课程名称︰会计学甲一下 课程性质︰必修 课程教师︰王泰昌 (助教名:杨景雯) 开课学院：管理学院 开课系所︰财务金融学系 考试日期（年月日）︰101.03.28 考试时限（分钟）：170 是否需发放奖励金：是 （如未明确表示，则不予发放） 试题 : 一、Plant, property and Equipment : 1. (a) Yang Company purchased an equipment at price of $600,000,but Yang was given a $30,000 cash discount. Yang paid $25,000 sales tax and installation on charges of $10,000. Besides, Yang paid $15,000 to buy an essential element to set up the machine. During the freight, Yang paid $30,000 to repair a damage, which could be avoided if they had been more careful. What is the total cost of the new equipment? (5%) (b) De Corporation purchased a land and expenditures were as follows: purchase price, €80,000; broker’s fees, €3,000; title search and other fees, €8,000; demolition of an old building, €7,000; grading, €2,000; lighting, €5,500; signs, €5,000. What is the cost that should be included in the Land account (excluding land improvements)? (5%) 2. Liu Com. purchases a building at $640,000 and estimates useful life of 4 years and a residual value of $60,000. Prepare the journal entries to record the depreciation expense each year under (1) double-declining-balance method (be careful in the last year) (2) straight-line method. (20%) 3. On July 1 ,2009, Reyes Company purchased a machine for $200,000 and used the straight-line method. The machine had an estimated useful life of 5 years and no residual value. Qn July l, 2011, the company revised the remaining life to four years and changed to the double-declining-balance method. How much depreciation will be recorded for 2011 and 2012? (10%) 4. Continued from 3, Reyes decided to dispose the machine on 12/31, 2012. There were two disposal methods: (a) sell at $60,000 (b) exchange for a machine from the Dell company and additionally paid them $20,000.The market value of the old machine was $60,000. The transaction has commercial substance. (10%) Prepare the journal to record the “disposal” transaction under two independent methods. 5. (a) A company purchased a patent on January 1, 2011, for $2,000,000. The patent’s legal life is 20 years but the company estimates that the patent's useful life will only be 5 ears from the date of acquisition. On June 30, 2011, the company paid legal costs of $135,000 in successfully defending the patent in an infringement suit. Prepare the journal entry to amortize the patent at year end on December 31, 2011.(5%) (b) Hulse Company incurred research costs of $500,000 in 2011 in developing a new product. Prepare the necessary journal entries during 2011 to record these events and any adjustments at year end on December 31, 2011. (5%) 二、Liabilities : 1. On March 1, Jordan Company borrows $120,000 from Ottawa State Bank by signing a 6-month, 8%, interest-bearing note.(10%) Instructions Prepare the necessary entries below associated with the note payable. (a) Prepare the entry on March 1 when the issued. (b) Prepare any adjusting entries necessary on June 30 in order to prepare the semi-annual financial statements. Assume no other interest accrual entries have been made. (c) Prepare the adjusting entry at August 31 to accrue interest (d) Prepare the entry to record payment of the note at at maturity . 2. Wenger Corporation is issuing €100,000 of 10%, 5-year bonds and interest is payable semiannually. The present value of 1 factors for n=10 are 4%, 0.67556; 5%, 0.61391; 6%, 0.55839. The present value of an annuity factors for n=10 are 4%, 8.1109; 5%, 7.72173; 6%, 7.36009 (15%) Compute the market price (present value) of. the bonds when market interest is (a) 8% (b)12%. (计算利息与本金现值时，在整数位四舍五入) 3. Hibbett Company does not segregate sales and sales taxes on its cash register. Its register total for the month is $259,700, which includes a 6% sales tax. Compute sales taxes payable, and make the entry to record sales and sales taxes payable. (5%) 三、Fraud and internal control(10%) 1. Match the principle of internal control to each of the following cases. (a) Establishment of responsibility (b) Segregation of duties (c) Accountability for assets (d) Documentation procedures (e) Physical controls (f) Independent internal verification (g) Human resource controls (1) Employees' time is tracked using a time clock. (2) Employees who receive shipments of goods do not have access to the accounting records for merchandise. (3) Shipping documents are prenumbered (4) The bookkeeper does not have physical custody of assets. (5) Only the treasurer of the company can sign checks. (6) Involves the review, comparison, and reconciliation of data prepared by other employees. (7) Provide evidence transactions and events have occurred. (8) Includes the authorization and approval of transactions. (9) Rotating employees’ duties and requiring the employees to take vacations. (10)Related activities should be assigned to different individuals. --

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