2008年6月ACCA F7真题.pdfVIP

Fundamentals Level – Skills Module ) K U Financial Reporting ( (United Kingdom) Tuesday 10 June 2008 7 F r e Time allowed Reading and planning: 15 minutes p Writing: 3 hours ALL FIVE questions are compulsory and MUST be attempted. a Do NOT open this paper until instructed by the supervisor. P During reading and planning time only the question paper may be annotated. You must NOT write in your answer booklet until instructed by the supervisor. This question paper must not be removed from the examination hall. The Association of Chartered Certified Accountants ALL FIVE questions are compulsory and MUST be attempted 1 On 1 August 2007 Patronic purchased 18 million of a total of 24 million equity shares in Sardonic. The acquisition was through a share exchange of two shares in Patronic for every three shares in Sardonic. Both companies have shares with a par value of £1 each. The market price of Patronic’s shares at 1 August 2007 was £5·75 per share. Patronic will also pay in cash on 31 July 2009 (two years after acquisition) £2·42 per acquired share of Sardonic. Patronic’s cost of capital is 10% per annum. The reserves of Sardonic on 1 April 2007 were £69 million. Patronic has held an investment of 30% of the equity shares in Acerbic for many years. The summarised profi