暨南大学-基础会计学考试试卷及答案(共13页).doc

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1、精选优质文档-倾情为你奉上暨南大学考试试卷教师填写课程2005 2006 学年第 二 学期 基础会计学FA（1） 试题 授课教师考试时间 2006 年 7 月7日 姓 名 沈 红 涛 课程类别必修 选修 考试方式开卷 闭卷 试卷类别(A、B、) A 共 8 页考生填写 国 际 学院 C G A 专业 2005 级姓名 学号 内招 外招 试题号一二三四五六七八九十总 分成 绩Question 1 (20 marks) Select the best answer for each of the following unrelated items. If more than one answer

2、is given for an item, that item will not be marked. Incorrect answers will be marked as zero. No account will be taken of any explanations you offer. (2 marks each)123456789101. The idea that a business be accounted for separately and independently from its owner or owners is known as the:a. objecti

3、vity principle.b.business entity principle.c. going-concern principle.d. revenue recognition principle.2. Expenses that are incurred during an accounting period but that, prior to end-of-period adjustments, remain unrecorded because payment is not due are: a. prepaid expenses.b.unearned expenses.d.

4、accrued expenses.3. When a petty cash fund is in use: a. expenses paid with petty cash are recorded when the fund is replenished.b. the Cash account is not affected when the fund is replenished.c. Petty Cash is debited when the fund is replenished.d. Petty Cash is credited when the fund is replenish

5、ed.4. In reconciling the bank balance, the amount of an unrecorded bank service charge should be: a. added to the book balance of cash.b. deducted from the book balance of cash.c. added to the bank statement balance.d. deducted from the bank statement balance.5. A partnership that has two classes of

6、 partners, limited partners and one or more general partners is a: a. permanent partnership.b. temporary partnership.c. limited partnership.d. general partnership.6. If an invoice for $300, dated January 27, with credit terms of 2/10, n/30, is paid on February 7, the amount paid would be: a. $294.b.

7、$270.c .$300.d.$306.7. On December 31, 1993, ADT Companys unadjusted trial balance included the following items: DebitAccounts receivable61,500 Allowance for doubtful accounts 690 What amount should be debited to Bad Debts Expense assuming 6% of outstanding accounts receivable on December 31, 1993,

8、will be uncollectible? a. $3,648.60b.$3,731.40c. $4,380.00d. $3,000.008. An example of a capital expenditure is: a.a payment for the current years insurance coverage against fire loss on a building.b.the payment of an employees wages.c.a payment for an office typewriter.d.none of these.9. X-Ray Comp

9、any sold for $6,000 an x-ray machine that originally cost $10,000. The accumulated depreciation on this machine was $4,000. X-Ray Companys gain (loss) on this sale is: a. $ -O-.b. $ 2,000.c. $ 4,000.d. $ 6,000.10. Ford and Lincoln formed a partnership with capital contributions worth $45,000 and $55

10、,000, respectively. Their partnership agreement calls for Ford to receive a $12,000 per year salary. Also, each partner is to receive a share of earnings equal to a 10% return on capital investments. The remaining income or loss is to be divided equally. If the net income for the year is $28,000, th

11、en Ford and Lincolns respective shares are: a.$14,000; $14,000b.$20,000;$ 8,000c.$12,000; $16,000d.$19,500;$ 8,500Question 2 (12 marks)The owner of a lawn service company prepares monthly financial statements. The following information is available at the end of July. a) The annual insurance amounti

12、ng to $1,200 went into effect on July 1. The prepaid insurance account was debited and cash credited on the same date.b) The lawn service companys lawn tractor was purchased for $3,200 last year. The value of the lawn tractor at the end of its estimated four-year useful life was determined to be $80

13、0. This information was made available to record amortization for July.c) A customer paid for the entire summers service in April. The journal entry credited the Unearned Service Fees account when the payment was received. The monthly fee is $500.d) The last weekly salary of $1,400 was paid to emplo

14、yees on Friday, July 27. Employees are paid based on a five-day workweek.e)Revenues of $1,800 were earned by July 31 but not recorded. Required Prepare the appropriate adjusting entries for July 31.Question 3 (8 marks)Timmons Company had a January 1, 2002, balance in Allowance for Doubtful Accounts

15、of $7,000. a) Apr. 15 Joe Blows account receivable of $5,700 was deemed uncollectible.b) July 1 Badman Duke paid the full amount of his previously written-off account receivable. The receivable of $2,300 had been written off in 2001.c) Dec. 31 Bad debts expense was estimated to be 2.0% of credit sal

16、es, which had amounted to be $375,000.RequiredPrepare journal entries to record these events during 2002.Question 4 (15 marks)On February 1, 2002, Enviro-Engineering Inc. has issued a $416,000 5% three-year bond. Interest is to be paid semi-annually beginning August 1, 2002. Assuming the market inte

17、rest rate is 4% and the straight-line amortization method is used.RequiredPrepare journal entries for the transactions on the following dates (Show your calculations): a) February 1, 2002 (date of issue)b) August 1, 2002 (interest payment date)c) September 30, 2002 (Enviros year-end) Question 5 (6 m

18、arks)Norton Construction Company purchased a cement mixer for $14,500. The mixer is expected to have a useful life of five years and a salvage value of $1,000. The company engineers estimate the mixer will have a useful life of 7,500 hours, of which 2,625 hours were used in 2001. The companys year e

19、nd is December 31. Required Compute the depreciation expense for 2001 assuming the cement mixer was purchased on July 1, 2001, using the following methods: (a) straight-line, (b) units-of-production, and (c) double-declining-balance.Question 6 (10 marks)The comparative balance sheets for 2000 and 20

20、01 and the 2001 income statement for Morriss Costume Shop are as follows:MORRISS COSTUME SHOPBalance SheetDecember 31 2001 2000AssetsCash .$ 110,000$ 36,000Accounts Receivable 220,000 360,000Merchandise Inventory 660,000 480,000Property, Plant, and Equipment 1,540,0001,644,000Total Assets$2,530,000$

21、2,520,000Liabilities and Shareholders EquityCurrent Liabilities$ 495,000$ 600,000Mortgage Payable940,000996,000Common Stock (150,000 shares outstanding)600,000600,000Retained Earnings495,000324,000Total Liabilities and Shareholders Equity$2,530,000$2,520,000MORRISS COSTUME SHOPIncome StatementFor Ye

22、ar Ended December 31, 2001Sales$1,703,000Less: Cost of Goods Sold950,000Gross Profit on Sales$ 753,000Operating Expenses:Administrative Expenses$215,000Selling Expenses231,000Total Operating Expenses446,000Operating Income$ 307,000Other Expenses:Interest Expense44,000Income before Taxes$ 263,000Inco

23、me Tax Expense92,000Net Income$ 171,000Additional Information:1.Morriss common stock is currently selling for $20.50 per share.2.Morriss paid a dividend of $1.00 per share during 2001.RequiredCalculate the following ratios:a) Quick ratiob) Inventory turnoverc) Stockholders equity to total assets rat

24、io d) Rate of return on common stockholders equity e) Earnings per shareQuestion 7 (13 marks)Arrowhead Optics has hired you as a consultant. Your assistance is needed in preparing income statement to submit to the Kansas National Bank for a $1,000,000 loan.Arrowhead sells fiber optic telephone syste

25、ms to large businesses. Arrowhead buys systems from Santa Fe Communications Electronics. Purchases during the first year of operations were as follows:Month ofUnitsCost perTotal PurchasePurchasedUnitCostFeb.1,000$1,500$1,500,000May5,0001,4007,000,000Nov.4,0001,2004,800,000Dec.2,0001,1002,200,000Arro

26、whead has 3,500 units on hand on Dec. 31, the companys fiscal year-end. Since this is its first year of operations, Arrowhead has not formally chosen an inventory cost method. Sales for the year totaled $14,800,000; operating expenses amounted to $1,700,000.Requireda) Which inventory cost method wou

27、ld you recommend that Arrowhead use for the income statement submitted to the bank for the loan? Why? b)Assuming that Arrowheads income tax rate is 40%, which inventory cost method would you recommend that Arrowhead use for income tax purposes? Why?Support your answer with the Income Statement and s

28、how your calculations Question 8 (16 marks)暨南大学考试试卷参考答案课程2005 2006 学年第 二 学期 基础会计学FA（1） 试题 授课教师考试时间 2006 年 7 月7日 姓 名 沈 红 涛 课程类别必修 选修 考试方式开卷 闭卷 试卷类别(A、B、) A 共 8 页 国 际 学院 C G A 专业 2005 级Question 11 B2 D3 A4 B5 C6 C7 C8 C9 A10 DQuestion 2 (12 marks)2 marksa) Dec.31 Insurance Expense100Prepaid Insurance

29、1003 marksb) 31 Amortization Expense, lawn tractor 50 Accumulated Amortization, lawn tractor 502 marksc) 31 Unearned Service Fees500Earned Service Fees 5003 marksd) 31 Salaries Expense560Salaries Payable 5602 markse) 31 Accounts Receivable (Rent Receivable).1,800Earned Revenues 1,800 Question 3 (8 m

30、arks)2 marks a) Apr. 15 Allowance for Doubtful Accounts 5,700 Accounts Receivable 5,7003 marks b) July 1 Accounts Receivable 2,300 Allowance for Doubtful Accounts 2,300Cash 2,300 Accounts Receivable 2,3003 marks c) Dec. 31 Bad debts Expense 7,500 (=75,000x0.02) Allowance for Doubtful Accounts 7,500Q

31、uestion 4 (15 marks)Feb. 1 Cash 427,663 (416,000x0.888+10400x5.6014) 3 for calPremium on Bonds Payable11,663 2 for entryBonds Payable416,000Aug 1Bond Interest Expense8,456Premium on Bonds Payable1,944 3 for calCash10,400 2 for entrySept 30Bond Interest Expense2,819 (8456x2/6) 3 for calPremium on Bon

32、ds Payable 648 (1944x2/6) 2 for entryInterest Payable3,467 (10400x2/6) Question 5 (6 marks)a. (14500-1000)/5/2=1350 2 marksb. (14500-1000)*2625/7500=4725 2 marksc. 14500*0.4/2=2900 2 marksQuestion 6 (10 marks)Calculate the following ratios:2 marks a) Quick ratio (110+220)/495=0.6672 marks b) Invento

33、ry turnover 950/(660+480)/2=1.672 marks c) Stockholders equity to total assets ratio 1095/2530=0.4332 marks d) Rate of return on common stockholders equity 171/(1095+924)/2=0.1692 marks e) Earnings per share 171/150=1.14Question 7 (13 marks) FIFO: COGS 11,500,000, Net Income 1,6002 for cal 2 for statement 3 for explanation LIFO: 10,500,000 2,600 2 for cal 2 for statement 2 for explanationQuestion 8 (16 marks)专心-专注-专业