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）︰100.6.7 考試時限（分鐘）：110分鐘 是否需發放獎勵金：是 試題 : Problem 1 The following are in Jamison Company’s portfolio of long-term available-for-sale securities at December 31, 2010. Cost 700 shares of Adler Corporation common stock $35,000 900 shares of Lynn Corporation common stock 42,000 800 shares of Swanson Corporation common stock 22,400 On December 31, the total cost of the portfolio equaled total fair value. Jamison Company had the following transaction related to the securities during 2011. Jan. 7 Sold 700 shares of Adler Corporation common stock at $56 per share, less brokerage fees of $700. 10 Purchased 300 shares, $70 par value common stock of Pesavento Corporation at $78 per share, plus brokerage fees of $240. 26 Received cash dividends of $1.15 per share on Lynn Corporation common stock. Feb. 2 Received cash dividends of $0.40 per share on Swanson Corporation common stock. 10 Sold all 800 shares of Swanson Corporation common stock at $26 per share less brokerage fees of $180. July 1 Received a cash dividend of $1.00 per share on Lynn Corporation common stock. Sept.1 Purchased an additional 800 shares of the $70 par value common stock of Pesavento Corporation at $75 per share, plus brokerage fees of $900. Dec.15 Received a cash dividend of $1.50 per share on Pesavento Corporation common stock. At December 31, 2011, the fair values of the securities were: Lynn Corporation common stock $48 per share Pesavento Corporation common stock $72 per share Instructions 1.Prepare journal entries to record the transactions. 2.Show the balance sheet presentation at December 31, 2011, for the investment-related accounts. Problem 2 The comparative balance sheet of Sorenson Company for December 31, 2010 and 2009, is as follows: Dowling Company Comparative balance sheet December 31, 2010 and 2009 Assets 2010 2009 Cash $164,350 $105,900 Account receivable(net) 95,300 102,300 Inventories 165,200 157,900 Prepaid expense 6,240 5,860 Investment(long-term) 35,700 84,700 Land 110,000 90,000 Buildings 300,000 260,000 Accumulated depreciation—buildings (71,300) (58,300) Machinery and equipment 500,000 428,300 Accumulated depreciation—machinery and equipment(148,500) (138,000) Patents 48,000 65,000 Total assets $1,204,990 $1,103,660 Liabilities and Stockholders’ Equity Accounts payable(merchandise creditors) $43,500 $46,700 Accrued expenses payable(operating expense) 14,000 12,500 Income taxes payable 7,900 8,400 Dividends payable 14,000 10,000 Mortgage note payable 40,000 10,000 Bonds payable 150,000 250,000 Common stock,$30 par 480,000 375,000 Excess of issue price over par—common stock 81,250 41,250 Retained earnings 374,340 349,810 Total liabilities and Stockholders’ Equity $1,204,990 $1,103,660 The income statement for Sorenson Company is shown here. Dowling Company Income Statement For the year ended December 31, 2010 Sales $1,100,000 Cost of merchandise sold 710,000 Gross profit $390,000 Operating expense Depreciation expense-building $13,000 Depreciation expense- machinery and equipment 10,500 Patent amortization 7,000 Other operating expense 196,000 Total other operating expense 226,500 Income from operations $163,500 Other income: Gain on sale of investments $11,000 Gain on sale of Buildings 5,000 Gain on sale of Patents 2,000 18,000 Other expense: Loss on sale of land 3,000 Loss on sale of machinery and equipment 3,300 Interest expense 26,000 (32,300) Income before income tax $149,200 Income tax expense 50,000 Net income $99,200 An examination of the accounting records revealed the following additional information applicable to 2010: a.Land was purchased $35,000 at beginning of the year. b.A building costing $80,000 was sold. c.Machinery and equipment was purchased at a cost $100,000. d.A mortgage note due $5,000. e.Common stock were issued at $40(per share) in exchange for the bonds payable at beginning of the year. Instructions 1.Prepare a statement of cash flows, using the indirect method of reporting cash flows from operating activities. --

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