課程名稱︰中級會計學
課程性質︰必修
課程教師：劉心才 (助教名:謝昇峰)
開課學院：管理學院
開課系所︰財務金融學系
考試日期（年月日）︰101.10.03
考試時限（分鐘）：110
是否需發放獎勵金：是
（如未明確表示，則不予發放）
試題 : 範圍:Chapter 1~4
A. Multiple Choice (30 points)
1. What is a major objective of financial reporting?
a. Provide information that is useful to management in making decisions.
b. Provide information that clearly portray nonfinancial transactions.
c. Provide information that is useful to assess the amounts, timing, and
uncertainty of perspective cash receipts.
d. Provide information that excludes claims to the resources
2. The following published documents are part of the "due process" system used
by the IASB in the evolution of a typical IASB Standard (1) Exposure Draft
(2) IASB Standard (3) Discussion Paper
The chronological order in which these items are released is as follows:
a. (1) (2) (3) b. (1) (3) (2) c. (2) (3) (1) d. (3) (1) (2)
3. The International Accounting Standards Board (IASB) defines one of the 5
elements as follows: "the residual interest in the assets of the entity
after deducting all its liabilities" Which element matches this description?
a. Retained earnings. b. Income c. Equity
d. All of the choices match this definition.
4. Which basic assumption may not be followed when a firm in bankruptcy
reports financial results?
a. Economic entity assumption. b. Going concern assumption.
c. Periodicity assumption. d. Monetary unit assumption.
5. Under current IFRS, inflation is ignored in accounting due to the
a. economic entity assumption. b. going concern assumption.
c. periodicity assumption. d. monetary unit assumption.
6. Recognition of expense related to amortization of an intangible asset
illustrates which principle of accounting?
a. Expense recognition b. Full disclosure.
c. Revenue recognition. d. Historical cost.
7. Charging off the cost of a wastebasket with an estimated useful life of 10
years as an expense of the period when purchased is an example of the
application of the
a. consistency characteristic. b. matching principle.
c. materiality constraint. d. historical cost principle.
8. The omission of the adjusting entry to record depreciation expense will
result in an:
a. overstatement of assets and an overstatement of equity.
b. understatement of assets and an understatement of equity.
c. overstatement of assets and an overstatement of liabilities.
d. overstatement of liabilities and an understatement of equity.
9. IFRS requires that a single amount be disclosed within the income statement
for
a. the post-tax profit/loss on discontinued operations and the pre-tax gain/
loss on the disposal of discontinued operational assets.
b. the pre-tax profit/loss on discontinued operations and the post-tax gain/
loss on the disposal of discontinued operational assets.
c. the pre-tax profit/loss on discontinued operations and the pre-tax gain/
loss on the disposal of discontinued operational assets.
d. the post-tax profit/loss on discontinued operations and the post-tax gain/
loss on the disposal of discontinued operational assets.
10. The earnings per share computation is not required for .
a. Net income.
b. Gain on disposal of discontinued operation, net of tax.
c. Income from continuing operations.
d. Income from operations.
※選擇題答案: CDCBC / ACADD
B. Problems (70 points)
※ 不必抄題 / 分錄請注意日期資訊(若有必要)
I.
The qualitative characteristics that make accounting information useful for
decision-making purposes are as follows.
Relevance / Neutrality / Verifiability / Completeness / Understandability /
Timeliness / Comparability / Faithful representation / Predictive value /
Confirmative value
Instructions
Identify the appropriate qualitative characteristic(s) to be used given the
information provided below.
(a) Qualitative characteristic being employed when companies in the same
industry are using the same accounting principles.
(b) Quality of information that confirms users' earlier expectations.
(c) Imperative for providing comparisons of a company from period to period.
(d) Ignores the economic consequences of a standard or rule.
(e) Requires a high degree of consensus among individuals on a given
measurement.
(f) Predictive value is an ingredient of this fundamental quality of
information.
(g) Qualitative characteristics that enhance both relevance and faithful
representation.
(h) Neutrality and completeness are ingredients of this fundamental quality of
accounting information.
(i) Two fundamental qualities that make accounting , information useful for
decision-making purposes.
(j) Issuance of interim reports is an example of what enhancing ingredient?
II. The following trial balance was taken from the books of Fisk Corporation on December 31, 2010.
Account Debit Credit
Cash $12,000
Accounts Receivable 40,000
Note Receivable 7,000
Allowance for Doubtful Accounts $1,800
Merchandise inventory 44,000
Prepaid Insurance 4,800
Furniture and Equipment 125,000
Accumulated Depredation—F. & E. 15,000
Accounts Payable 10,800
Share Capital—Ordinary 44,000
Retained Earnings 55,000
Sales 280,000
Cost of Goods Sold 111,000
Salaries Expense 50,000
Rent Expense 12,800
Totals $406,600 $406,600
======== ========
At year end, the following items have not yet been recorded.
a. Insurance expired during the year, $2,000.
b. Estimated bad debts, 1% of gross sales.
c. Depreciation on furniture and equipment, 10% per year.
d. Interest at 6% is receivable the note for one full year.
e. Rent paid in advance at December 31, $5,400 (originally charged to expense)
f. Accrued salaries at December 31, $5,800.
Instructions
(a) Prepare the necessary adjusting entries.
(b) Prepare the necessary closing entries.
III.
Presented below is an income statement for Kinder Company for the year ended
December 31, 2011.
Kinder Company
Income Statement
For the Year Ended December 31, 2011
Net Sales $800,000
Cost and expenses:
Cost of goods sold 640,000
Selling, general, and administrative expenses 70,000
Other, net 20,000 730,000
Income before income taxes 70,000
Income taxes 21,000
Net income $49,000
=======
Additional information:
1. "Selling, general, and administrative expenses" included a charge of $7,000
for impairment of intangibles.
2. "Other, net" consisted of interest expense, $10,000, and a discontinued
operations loss of $10,000 before taxes. If the loss had not occurred,
income taxes for 2011 would have been $24,000 instead of $21,000.
3. Kinder had 20,000 ordinary shares outstanding during 2011.
Instructions
Prepare a corrected income statement, including the appropriate per share
disclosures.
IV.
Data relating to the balances of various accounts affected by adjusting or
closing entries appear below. (The entries which caused the changes in the
balances are not given.) You are asked to supply the missing journal entries
which would logically account for the changes in the account balances.
1.
Interest receivable at 1/1/10 was ￡1,000. During 2010 cash received from
debtors for interest on outstanding notes receivable amounted to ￡5,000. The
2010 income statement showed interest revenue in the amount of ￡5,400. You are
to provide the missing adjusting entry that must have been made, assuring
reversing entries are not made.
2.
Unearned rent at 1/1/10 was ￡5,300 and at 12/31/10 was ￡8,000. The records in
dicate cash receipts from rental sources during 2010 amounted to ￡40,000, all
of which was credited to the Unearned Rent Account. You are to prepare the
missing adjusting entry
3.
Accumulated depreciation—equipment at 1/1/10 was ￡230,000. At 12/31/10 the
balance of the account was ￡270,000. During 2010, one piece of equipment was
sold. The equipment had an original cost of ￡40,000 and was 3/4 depreciated
when sold. You are to prepare the missing adjusting entry.
4.
Allowance for doubtful accounts on 1/1/10 was ￡50,000. The balance in the
allowance account on 12/31/10 after making the annual adjusting entry was
￡65,000 and during 2010 bad debts written off amounted to ￡30,000. You are to
provide the missing adjusting entry.
5.
Prepaid rent at 1/1/10 was ￡9,000. During 2010 rent payments of ￡120,000 were
made and charged to "rent expense." The 2010 income statement shows as a
general expense the item "rent expense" in the amount, of ￡125,000.
You are to prepare the missing adjusting entry that must have been made,
assuming reversing entries are not made.
6.
Retained earnings at 1/1/10 was ￡150,000 and at 12/31/10 it was ￡210,000.
During 2010, cash dividends of ￡50,000 were paid and a share dividend of
￡40;000 was issued. Both dividends were properly charged to retained earnings. You are to provide the missing closing entry.