【每日一练】ACCA F7（Sep 2016）

Please use the grid provided on page two of the Candidate Answer Booklet to record your answers to each multiple choice question. Do not write out the answers to the MCQs on the lined pages of the answer booklet.
Each question is worth 2 marks.

On 1 October 20X1, Bash Co borrowed $6m for a term of one year, exclusively to finance the construction of a new piece of production equipment. The interest rate on the loan is 6% and is payable on maturity of the loan. The construction commenced on 1 November 20X1 but no construction took place between 1 December 20X1 to 31 January 20X2 due to employees taking industrial action. The asset was available for use on 30 September 20X2 having a construction cost of $6m. 
What is the carrying amount of the production equipment in Bash Co’s statement of financial position as at 30 September 20X2?
A $5,016,000 
B $6,270,000 
C $6,330,000 
D $6,360,000

Answer：

B
                                                                                                                $’000
Production cost of PPE                                                                              6,000
Capitalisation of borrowing costs:
$6m x 6% x 9/12 =                                                                                       270

                                                                                                                  ––––––
Total cost capitalised (and carrying amount) at 30 September 20X2        6,270
                                                                                                                  ––––––

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