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Which of the following is the correct treatment of the revaluation gain and the value of the property in the statement of financial position at 31 December 20X5?

Options:

A gain of $134,000 taken to the statement of profit or loss and $750,000 shown on the statement of financial position.

A gain of $106,000 taken to the statement of profit or loss and $720,000 shown on the statement of financial position.

A gain of $134,000 taken to other comprehensive income and $750,000 is shown on the statement of financial position.

A gain of $106,000 taken to other comprehensive income and $720,000 is shown on the statement of financial position.

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Question 2

The following information relates to ABC.

Which of the following would be a reason for the movement in the trade receivable days?

Options:

A new credit controller was appointed during the year ended 30 June 20X3 who has been chasing customers for payment.

A system of early settlement discount was introduced during the year ended 30 June 20X3 which was taken up by quite a few customers.

One customer who regularly took 120 days to pay their invoices stopped buying goods from ABC during the year ended 30 June 20X3.

It was decided during the year ended 30 June 20X3 to stop undertaking credit checks on new customers.

Question 3

Country Q has the following rules in respect of capital tax on the disposal of assets:

*Capital gains are subject to tax at 25%.

*Capital losses can only be carried forward and offset against future capital gains.

The following data relates to ABC:

How much capital tax will be payable on the capital gain recorded in 20X3?

Give your answer to the nearest $.

Options:

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