104年 - 104 淡江大學轉學考會計學#53343

科目：轉學考-會計學 | 年份：104年 | 選擇題數：5 | 申論題數：12

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所屬科目：轉學考-會計學

選擇題 (5)

1. As a result of a thorough physical inventory, Hastings Company determined that it had inventory worth $570,000 at December 31, 2014. This count did not take into consideration the following facts: Carlin Consignment store currently has goods worth $104,000 on its sales floor that belong to Hastings but are being sold on consignment by Carlin. The selling price of these goods is $150,000. Hastings purchased $40,000 of goods that were shipped on December 27 FOB destination, that will be received by Hastings on January 3. Determine the correct amount of inventory that Hastings should report. (A) $610,000. (B) $714,000. (C) $674,000. (D) $720,000.

2. Having one person responsible for the related activities of ordering merchandise, receiving goods, and paying for them (A) increases the potential for errors and irregularities. (B) decreases the potential for errors and irregularities. (C) is an example of good internal control. (D) is a good example of safeguarding the company's assets.

3. The time period assumption states that (A) a transaction can only affect one period of tim(E) (B) estimates should not be made if a transaction affects more than one time perioD (C) adjustments to the enterprise's accounts can only be made in the time period when the business terminates its operations. (D) the economic life of a business can be divided into artificial time periods.

4. Under the allowance method, writing off an uncollectible account (A) affects only statement of financial position accounts. (B) affects both statement of financial position and income statement accounts. (C) affects only income statement accounts. (D) is not acceptable practic(E)

5. Lending money and collecting the loans are (A) operating activities. (B) investing activities. (C) financing activities. (D) Non-cash investing and financing activities.

申論題 (12)

【已刪除】二、A comparative statement of financial position for Hartman Corporation is presented below: (20%)

Additional information: 1. Net loss for 2014 is $15,000. 2. Cash dividends of $9,000 were declared and paid in 2014. 3. Land was sold for cash at a loss of $7,000. This was the only land transaction during the year. 4. Equipment with a cost of $15,000 and accumulated depreciation of $10,000 was sold for $5,000 cash. 5. $12,000 of bonds were retired during the year at carrying (book) valu(E) 6. Equipment was acquired for ordinary shares. The fair value of the shares at the time of the exchange was $25,000. Instructions Prepare a statement of cash flows for the year ended 2014, using the indirect metho(D)

(a) Prepare a correct bank reconciliation.

(b) Journalize the entries required by the reconciliation.

(a) Journalize the 2014 transactions. (12%)

(b) If the company uses the percentage-of-sales basis to estimate bad debts expense and anticipates 2% of net sales to be uncollectible, what is the adjusting entry at December 31, 2014? (3%)

(c) If the company uses the percentage-of-receivables basis to estimate bad debts expense and determines that uncollectible accounts are expected to be 4% of accounts receivable, what is the adjusting entry at December 31, 2014? (3%)

(d) Which basis would produce a higher net income for 2014 and by how much? (5%)

(a) Prepare correct income statement data for the 2 years. (7%)

(b) What is the cumulative effect of the inventory error on total gross profit for the 2 years? (3%)

(a) Prepare the adjusting entry for Price Corporation on December 31, 2014, to report the portfolio at fair valu(E) (3%)

(b) Indicate the statement of financial position and income statement presentation of the fair value data for Price Corporation at December 31, 2014. (4%)

(c) Prepare the journal entry for the 2015 sal(E) (3%)