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4 (a) For this part, assume today’s date is 1 March 2006.Bill and Ben each own 50% of the ordinary share capital in Flower Limited, an unquoted UK trading companythat makes electronic toys. Flower Limited was incorporated on 1 August 2005 with 1,000 ￡1 or

题目

4 (a) For this part, assume today’s date is 1 March 2006.

Bill and Ben each own 50% of the ordinary share capital in Flower Limited, an unquoted UK trading company

that makes electronic toys. Flower Limited was incorporated on 1 August 2005 with 1,000 ￡1 ordinary shares,

and commenced trading on the same day. The business has been successful, and the company has accumulated

a large cash balance of ￡180,000, which is to be used to purchase a new factory. However, Bill and Ben have

received an offer from a rival company, which they are considering. The offer provides Bill and Ben with two

alternative methods of payment for the purchase of their shares:

(i) ￡480,000 for the company, inclusive of the ￡180,000 cash balance.

(ii) ￡300,000 for the company assuming the cash available for the factory purchase is extracted prior to sale.

Bill and Ben each currently receive a gross salary of ￡3,750 per month from Flower Limited. Part of the offer

terms is that Bill and Ben would be retained as employees of the company on the same salary.

Neither Bill nor Ben has used any of their capital gains tax annual exemption for the tax year 2005/06.

Required:

(i) Calculate which of the following means of extracting the ￡180,000 from Flower Limited on 31 March

2006 will result in the highest after tax cash amount for Bill and Ben:

(1) payment of a dividend, or

(2) payment of a salary bonus.

You are not required to consider the corporation tax (CT) implications for Flower Limited in your

answer. (5 marks)

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1.根据以下材料回答第 1～5 题：A．What about you?B．Would you like black tea?C．Do you have any eggs，madam?D．Would you like something to eat?E．Black tea or iced tea?F．Can I help you?G．Thank you very much．H．It is very tasty．第 56 题 Woman： 1Ben：Yes，madam．What would you like to drink，Tony?Tony：I'd like some tea．Ben： 2Tony：Iced tea，please． 3Ben：I'd like some lemonade． 4Tony：Yes，I'd like a pizza，please．Woann：What would you like on it，sir?Tony：Mushrooms，green peppers and onions，please．Ben：All right， 5Woman：Yes．Ben：We want a cup of iced tea，a glass of milk，a glass of lemonade，a pizza and two eggs，please．Woman：OK．

2.(b) You are the audit manager of Johnston Co, a private company. The draft consolidated financial statements forthe year ended 31 March 2006 show profit before taxation of $10·5 million (2005 – $9·4 million) and totalassets of $55·2 million (2005 – $50·7 million).Your firm was appointed auditor of Tiltman Co when Johnston Co acquired all the shares of Tiltman Co in March2006. Tiltman’s draft financial statements for the year ended 31 March 2006 show profit before taxation of$0·7 million (2005 – $1·7 million) and total assets of $16·1 million (2005 – $16·6 million). The auditor’sreport on the financial statements for the year ended 31 March 2005 was unmodified.You are currently reviewing two matters that have been left for your attention on the audit working paper files forthe year ended 31 March 2006:(i) In December 2004 Tiltman installed a new computer system that properly quantified an overvaluation ofinventory amounting to $2·7 million. This is being written off over three years.(ii) In May 2006, Tiltman’s head office was relocated to Johnston’s premises as part of a restructuring.Provisions for the resulting redundancies and non-cancellable lease payments amounting to $2·3 millionhave been made in the financial statements of Tiltman for the year ended 31 March 2006.Required:Identify and comment on the implications of these two matters for your auditor’s reports on the financialstatements of Johnston Co and Tiltman Co for the year ended 31 March 2006. (10 marks)

3.在Visual FoxPro中，在执行了SET DATE AMERICAN之后：不能显示4位年份的命令是( )。A．?YEAR(DATE())B．?LEFT(DTOC(DATE()),4)C．?LEFT(口TOC(DATE(),1),4)D．?SUBSTR(DTOC(DATE(),1),1,4)

4.Ben：I'd like some lemonade． 4

更多“4 (a) For this part, assume today’s date is 1 March 2006.Bill and Ben each own 50% of the ”相关问题

  • 第1题：

    Visual FoxPro中,执行了SET DATE AMERICAN后,不能显示4位年份的命令是( )A.?YEAR(DATE)

    Visual FoxPro中，执行了SET DATE AMERICAN后，不能显示4位年份的命令是（ ）

    A.?YEAR(DATE)

    B.?LEFT(DTOC(DATE)，4)

    C.?LEFT(DTOC(DATE，1)，4)

    D.?SUBSTR(DTOC(DATE，1)，1，4)


    正确答案：B

  • 第2题：

    1、请同学们在做题之前先下载此音频。https://pan.baidu.com/s/1LmDJ3A8HW3rqWz5tqGAZcw 1. The school begins on _____________.

    A．March 7th

    B．March 11th

    C．March 17th

    D．March 20th


    无

  • 第3题：

    请同学们在做题之前先下载此音频。https://pan.baidu.com/s/1LmDJ3A8HW3rqWz5tqGAZcw 1. The school begins on _____________.

    A．March 7th

    B．March 11th

    C．March 17th

    D．March 20th


    *.wma;*.mp3

  • 第4题：

    客（货）比例分摊过程中需要遵守的规则来自于客（货）分摊手册（　　）中Section B的多边比例分摊协议（MPA）。
    A．Part 1
    B．Part 2
    C．Part 3
    D．Part 4


    答案：C
    解析：
    分摊手册的公布分为客货两个方面，即《客运分摊手册》（Prorate Manual Passenger,PMP）和《货运分摊手册》（Prorate Manual Cargo,PMC）。客（货）比例分摊过程中需要遵守的规则来自于客（货）分摊手册Part3中Section B的多边比例分摊协议（MPA）。

  • 第5题：

    以下哪个是显示当前时间的函数？

    A．=today()

    B．=time()

    C．=year()

    D．=date()


    NOW()

  • 第6题：

    如果采用延迟转移技术（延迟数为1），那么执行完下面这些指令之后，$s1的内容是什么？ xor $s1, $s1, $s1 addi $t1, $t3, 1 subi $t2, $t4, 2 beq $t1, $t2, Next; Assume $t1 == $t2 is True addi $s1, $s1, 1 addi $s1, $s1, 2 Next： addi $s1, $s1, 3

    A．4

    B．0

    C．1

    D．2

    E．3

    F．5

    G．6


    4

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