課程名稱︰會計學甲一下 課程性質︰必修 課程教師︰許文馨 開課學院：管理學院 開課系所︰工管系 考試日期（年月日）︰100.3.22 考試時限（分鐘）：100分鐘 是否需發放獎勵金：是 試題 : 1.A machine with a cost of $80,000 has an estimated residual value of $5,000 and an estimated life of 5 years or 15,000 hours. It is to be depreciated by the units-of-production method. What is the amount of depreciation for the second full year, during which the machine was used 5,000 hours? a.$5,000 b.$25,000 c.$15,000 d.$26,667 2.Equipment with a cost of $160,000, an estimated residual value of $40,000, and an estimated life of 15 years was depreciated by the straight-line method for 4 years. Due to obsolescence, it was determined that the useful life should be shortened by 3 years and the residual value changed to zero. The depreciation expense for the current and future years is a.$11,636 b.$16,000 c.$11,000 d.$8,000 3.The Bacon Company acquired new machinery with a price of $15,200 by trading in similar old machinery and paying $12,700. The old machinery originally cost $9,000 and had accumulated depreciation of $5,000. In recording this transaction, Bacon Company should record a.the new machinery at $16,700 b.the new machinery at $12,700 c.a gain of $1,500 d.a loss of $1,500 4.The Weber Company purchased a mining site for $500,000 on July 1, 2009. The company expects to mine ore for the next 10 years and anticipates that a total of 100,000 tons will be recovered. The estimated residual value of the property is $80,000. During 2009 the company extracted 4,000 tons of ore. The depletion expense for 2009 is a.$10,500 b.$43,200 c.$16,800 d.$20,000 5.Xtra Company purchased goodwill from Argus for $144,000. Argus had developed the goodwill over 6 years. How much would Xtra amortize the goodwill for its first year? a.$8,640 b.$24,000 c.Goodwill is not amortized. d.Not enough information. 6.Proceeds of $48,750 were received from discounting a $50,000, 90-day note at a bank. Using the 360-day year in your calculations, the discount rate used by the bank in computing the proceeds was a.6.25% b.10.00% c.10.26% d.9.75% 7.An employee receives an hourly rate of $40, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $350; cumulative earnings for year prior to current week, $99,700; social security tax rate, 6.0% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings. What is the gross pay for the employee? a.$775.00 b.$1,840.00 c.$1,960.00 d.$1,562.60 8.An employee receives an hourly rate of $25, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 46 federal income tax withheld, $350; cumulative earnings for year prior to current week, $99,700; social security tax rate, 6.0% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid the employee? a.$875.00 b.$838.62 c.$857.00 d.$1133.14 9.Prior to the last weekly payroll period of the calendar year, the cumulative earnings of employees A and B are $99,350 and $91,000 respectively. Their earnings for the last completed payroll period of the year are $850 each. The amount of earnings subject to social security tax at 6% is $100,000. All earnings are subject to Medicare tax of 1.5%. Assuming that the payroll will be paid on December 29, what will be the employer's total FICA tax for this payroll period on the two salary amounts of $850 each? a.$127.50 b.$115.50 c.$112.50 d.$0 10.Elgin Company sells merchandise with a one year warranty. Sales consisted of 2,500 units in 2009 and 2,000 units in 2010. It is estimated that warranty repairs will average $10 per unit sold, and 30% of the repairs will be made in 2009 and 70% in 2010 for the 2009 sales. Similarly, 30% of repairs will be made in 2010 and 70% in 2011 for the 2010 sales. In the 2010 income statement, how much of the warranty expense shown will be due to 2009 sales? a.$7,500 b.$17,500 c.$25,000 d.$0 PROBLEM 2 At December 31, 2010, Starkey Company reported the following as plant assets. Land $2,000,000 Buildings $20,000,000 Less: Accumulated depreciation-buildings 8,000,000 12,000,000 Equipment 30,000,000 Less: Accumulated depreciation-equipment 4,000,000 26,000,000 Total plant assets $40,000,000 During 2011, the following selected cash transactions occurred. April 1 Purchased land for $1,200,000. May 1 Sold equipment that cost $420,000 when purchased on January 1, 2007.The equipment was sold for $240,000. June 1 Sold land purchased on June 1, 2001,for $1,000,000.The land cost $340,000. July 1 Purchased equipment for $1,100,000. Dec 31 Retired equipment that cost$300,000 when purchased on December 31,2001.No salvage value was received Instructions (a) Journalize the above transactions. Starkey uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 50-year useful life and no salvage value. The equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (b) Record adjusting entries for depreciation for 2011. (c) Prepare the plant assets section of Starkey’s balance sheet at December 31,2011. PROBLEM 3 The intangible assets section of Time Company at December 31, 2010, is presented below. Patent($100,000 cost less $10,000 amortization) $90,000 Copyright($60,000 cost less $24,000 amortization) 36,000 Total $126,000 The patent was acquired in January 2010 and has a useful life of 10 years. The copyright was acquired in January 2007 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2011. Jan.2 Paid $45,000 legal costs to successfully defend the patent against infringement by another company. Jan.-June Developed a new product, incurring $230,000 in research and development costs. A patent was granted for the product in July 1. Its useful life is equal to its legal life. Sept.1 Paid $125,000 to an Xgames star to appear in commercials advertising the company’s products. The commercials will air in September and October. Oct.1 Acquired a copyright for $200,000. The copyright has a useful life of 50 years. Instructions (a)Prepare journal entries to record the transactions above. (b)Prepare journal entries to record the 2011 amortization expense for intangible assets. (c)Prepare the intangible assets section of the balance sheet at December 31, 2011. PROBLEM 4 The following items were selected from among the transactions completed by Emerald Bay Stores Co. during the current year: Jan. 15. Purchased merchandise on account from Hood Co., $320,000, terms n/30. Feb. 14. Issued a 60-day, 9% note for $320,000 to Hood Co., on account. Apr. 15. Paid Hood Co. the amount owed on the note of February 14. June 2. Borrowed $487,500 from Acme Bank, issuing a 60-day, 8% note. July 10. Purchased tools by issuing a $690,000, 90-day note to Columbia Supply Co., which discounted the note at the rate of 6%. Aug. 1. Paid Acme Bank the interest due on the note of June 2 and renewed the loan by issuing a new 60-day, 12% note for $487,500. ( Journalize both the debit and credit to the notes payable account.) Sept. 30. Paid Acme Bank the amount due on the note of August 1. Oct. 8. Paid Columbia Supply Co. the amount due on the note of July 10. Dec. 1. Purchased office equipment from Mountain Equipment Co. for $320,000, paying $20,000 and issuing a series of ten 8% notes for $30,000 each, coming due at 30-day intervals. Dec. 5. Settled a product liability lawsuit with a customer for $176,000, payable in January. Emerald Bay accrued the loss in a litigation claims payable account. Dec. 31. Paid the amount due Mountain Equipment Co. on the first note in the series issued on December 1. Instructions 1.Journalize the transactions. 2.Journalize the adjusting entry for each of the following accrued expenses at the end of the current year: (a) Product warranty cost, $84,600; (b) Interest on the nine remaining notes owed to Mountain Equipment Co. --

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