課程名稱：會計學
課程性質：整開
課程範圍：
開課教師：林禹銘
開課學院：商學院
開課系級：會計系
考試日期(年月日)：
考試時限(Mins)：
附註：


試題本文：

Part1(20%)

1. To be classified as a current liability, a debt must be expected to paid:
a. within one year or the operating cycle, whichever is longer.
b. within one year or the operating cycle, whichever is shoter.
c. within 2 years.
d. out of non-currency assets.

2. Becky Sherrick Company has total proceeds from sales of $4,515. If the
procceds include sale taxes of 5%, the amount to be credit to Sale Revenue
is:
a. $4,000.
b. $4,300.
c. $4,289.25.
d. No correct answer given.

3. Lake Coffe Company reported net sales of HK$1,800,000, net income of
HK$540,000, beginning total assets of HK$2,000,000, and ending total
assets of HK$3,000,000. What was the company's asset turnover ratio?
a. 0.90.
b.0.20.
c.0.72.
d.1.39.

4. Gester Corporation retires its HK$1,000,000 face value bonds at 105 on
January 1, following the payment of semiannual interest. The carrying value
of the bonds at the redemption date is HK$1,037,450. The entry to record
the redemption will include a:
a. credit of HK$37,450 to Loss on Bond Redemption.
b. debit of HK$1,037,450 to Bonds Payable.
c. credit of HK$12,550 to Gain on Bond Redemption.
d. debit of HK$50,000 to Bonds Payable.

5. On July 4,2014,Wyoming Company purchased the mineral rights to a granite
deposit for $1,600,000. It is estimated that the recoverable granite will
be 400,000 tons. During 2014, 60,000 tons of grantie was extracted and
sold. The amount of the Depletion Expense recognized for 2014 would be
a. $200,000.
b. $120,000.
c. $240,000.
d. $400,000.

6. Which of the following is notan advantage of issuing bonds instead of
ordinary shares?
a. Shareholder control is not affected.
b. Earnings per share may be lower.
c. Income to ordinary shareholders may increase.
d. Tax savings result.

7. Most companies pay current liabilities.
a. out of current assets.
b. by issuing interest-bearing notes payable.
c. by issuing stock.
d. All of the above.

8. Bonds that may be exchanged for ordinary shares at the bondholder's option
are called
a. options.
b. stock bonds.
c. convertible bonds.
d. callable bonds.

9. A bond with a face value of ￥200,000,000 and a quoted price of 101.25 has
a selling price of
a. ￥220,450,000.
b. ￥202,050,000.
c. ￥200,250,000.

10. Each payment on a mortgage note payable consists of
a. interest on the original balance of the loan.
b. reduction of loan principal only.
c. interest on the original balance of the loan and reduction of loan
principal.
d. interest on the unpaid balance of the loan and reduction of loan
principal.

Part2(80%)

1.(12%) journalized subscription revenue.

Nevin Company publishes a monthly sports magazine, Fishing Preview.
Subscriptions to the magazine cost $18 per year. During November 2014,
Nevin sells 12,000 subscriptions beginning with the December issue.
Nevin prepares financial statements quarterly and recognizes subscription
revenue at the end of the quarter. The company uses the accounts Unearned
Subscription revenue at the end of the quarter. The company uses the accounts
Uneared Subscription Revenue and Subscription Revenue.

Instructions
a. Prepare the entry in November for receipt of the subscriptions.
b. Prepare the adjusting entry at December 31,2015, to record sales revenue
recongnized in the first quarter of 2015.

2.(20%)
Prepare entries to record issuance of bonds, interest accrual, and bond
redemption. On June 1 ,2014, Sator Corp. issued $1,200,000, 8%, 5-year
bonds at face value. The bonds were June 1, 2014, and pay interest
semiannually on June 1 and December 1. Financial statments are prepared
annually on December 31.

Instructions
a. Prepare the journal entry to record the issuance of the bonds.
b. prepare the adjusting entry to record the accrual of interest on December
314,2014.
c. Prepare the journal entry to record payment of interest on June 1,2015,
assuming no accrual of interest from January 1,2015, to June 1,2015.
d. Prepare the journal entry to record payment of interest on December 1,2015.
e. Assume that on December 1,2015,Sator calls the bonds at 101. Record the
redemption of the bonds.

3.(16%) Prepare entries to record issuance of bonds at discount and premium.
Pueblo Company issued $300,00 of 5-year,8% bonds at 98 on January 1,2014.
The conds pay interest twice a year.

Instructions

(a)1. Prepare the journal rntey to record the issuance of the bonds.
2. Compute the total cost of borrowing for bonds.

(b) Repeat the requirements from part (a), assuming the bonds were issued at
104.

4.(12%) Prepare entries to record mortgage note and installment payments.

Tucki Co. receives $240,000 when it issues a $240,000,8%,mortgage note
payable to finance the construction at December 31,2014. The terms provide
for semiannual installment payments of $17,660 on June 30 and December 31.

Instructions

Prepare the journal entries to record the mortgage loan and the first two
installment payments.

5.(10%)

(a) Clark Company purchased a francise from Tastee Food Company for $400,000
on January 1,2014. The franchise is for an indefinite time period and
gives Clark Company the exclusive rights to sell Tastee Wings in a
particular territory. Prepare the journal entry to record the acquisition
of the franchise and necessary adjusting entry at year end on December 31,
2014.

(b) Hulse Company incurred research costs of $500,000 in 2014 in developing a
new product. Prepare the necessary journal entries during 2014 record it.

6.(10%) Fill out the following blanks:

a. Assume that you are willing to invest a sum of monsy that will yield
HK$2,000 at the end of one year, and you can earn 20% on your money. What
is the HK$2,000 worth today? (1)

b. Selling price of a bond is equal to the sum of: (2)(present or future ?)
value of the face value of the bond discounted at the investor's (3) rate
of return PLUS (4) (present or future?) value of the periodic (5) payments
discounted at the investor's (6) rate of return

c. The issuance of bonds above face value:
The total cost of borrowing (7) (> or< ?) the bond interest paid;
bond contractual rate (8) (> or< ?) market interest rate;
bond contractual rate (9) (> or < ?) investor's required rate;
bond sell at (10) (premium or discount ?)

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