课程名称︰中级会计学 课程性质︰必修 课程教师：刘心才 (助教名:谢昇峰) 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）︰101.10.03 考试时限（分钟）：110 是否需发放奖励金：是 （如未明确表示，则不予发放） 试题 : 范围: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. ※选择题答案: CDCBC / ACADD B. Problems (70 points) ※ 不必抄题 / 分录请注意日期资讯(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. --

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