課程名稱︰高等會計學 課程性質︰會計系必修 課程教師︰許文馨 開課學院：管理學院 開課系所︰會計學系 考試日期（年月日）︰2014/05/13 考試時限（分鐘）：90分鐘 是否需發放獎勵金：是~ （如未明確表示，則不予發放） 試題 : 一、(29分) Pet Corp. acquired 80% of the commons stock of Sul for $4,000,000 on Jan. 2, 2011, when the stockholders' equity of Sul consisted of 5,000,000 euros capital stock and 2,000,000 euros retained earnings. The spot rate for euros on this date was $0.5. Any cost/book value difference attributable to a patent is to be amortized over a 10- year period, and Sul's funtional currency is the euro. Accounts from Sul's adjusted trial balance in euros at Dec. 31, 2011, are as follows: Debits Credits Cash €1,000,000 Accumulated depreciation €2,400,000 Account receivable 2,000,000 Account payable 3,600,000 Inventories 4,000,000 Capital stock 5,000,000 Equipment 8,000,000 Retained earnings 2,000,000 Cost of goods sold 4,000,000 Sales 10,000,000 Depreciation expenses 800,000 Operating expense 2,700,000 Dividends 500,000 Total €23,000,000 Total €23,000,000 Relevant exchange rated in U.S. dollars for euros are as follows: Current exchange rate Dec. 31, 2011 $0.60 Average exchange rate 2011 $0.55 Exchange rate applicable to dividends $0.54 Required: 1. Prepare a translation worksheet for Sul at Dec. 31,2011. 2. Calculate Pet's income from Sul for 2011 on the basis of a one-line consolidation. 3. Determine the correct balance of Pet's investment in Sul at Dec. 31, 2011. 4. Prepare Pet's all entry under the equity method for 2011. 二、(16分) American TV Corp. had 2 foreign currency transaction during Dec. 2011, as follows: Dec. 12: Purchased electronic parts from Toko Company of Japan at an invoice price of 50,000,000 yen when the spot rate for yen was $0.00750. Payment is due on Jan. 11, 2012. Dec. 15: Sold TV sets to British Products Ltd. for 40,000 pounds when the spot rate for British pounds and is due on Jan. 14, 2012. Required: 1. Prepare journal entries to record the foregoing tran- saction. 2. Prepare journal entries to adjust the accounts of Ame- rican TV Corp. at Dec. 31, 2011, if the current exchange rates are $0.00760 and $1.60 for Japanese yen and British pounds, respectively. 3. Prepare journal entries to record payments to Toko Company on Jan. 11, 2012, when the spot rate for Japanese yen is $0.00765, and to record receipt from British Products Ltd. on Jan. 14, 2012, when the spot rate for British pounds if $1.63. 三、(40分) Par of Chicago acquired all the outstanding capital stock and Sar Company of London on Jan. 1, 2011, for $1,300,000. The exchange rate for British pounds was $1.60 and Sar's stockholders' equity was ￡800,000, consisting of ￡500,000 capital stock and ￡300,000 re- tained earnings. The functional currency of Sar is the U.S. dollar. Exchange rated for British pounds for 2011 are as follows: Current rate Dec. 31, 2010 $1.60 Current rate Dec. 31, 2011 1.70 Average exchange rate for 2011 1.65 Exchange rate for dividends 1.64 Sar's cost of goods sold consists of ￡200,000 inventory on hand at Jan. 1, 2011, and purchases of ￡600,000 less ￡150,000 inventory on hand at Dec. 31, 2011, that was acquired at an exchange rate of ￡1.68. All of Sar's plant assets were on hand when Par acquired Sar, and Sar's other expenses were paid in cash or relate to accounts payable. Required: 1. Prepare a remeasurement worksheet to restate Sar's adjusted trial balance at Dec. 31, 2011, in U.S. dollars. 2. Prepare consolidation working papers entries for Par Corp. and subsidiary for the year ended Dec. 31, 2011. All the excess of cost over book value is treated as goodwill. 四、(15分) (1) Assume that Pin's Corp., a U.S. company, has a 100% equity investment in a British company, Ben Ltd, acquired at book value equal to fair value. Ben's functional currency is the British pound. The balance in investment at Dec. 31, 2011 is $1,280,000. (2) In order to hedge its investment in Ben, Pin borrows ￡800,000 for 1 year at 12% interest on Jan. 1, 2012, at a spot rate of $1.60. The loan is denominated in pounds, with principal and interest payable on Jan. 1, 2013. (3) On Nov. 1, 2012, Ben declares and pays ￡40,000 dividends when the exchange rate is $1.75. (4) For 2012, Ben reports net income of ￡160,000. The weighted average exchange rate for translation of Ben's revenue and expenses items for the year is $1.70, and the current exchange rate at Dec. 31, 2012, is $1.80. Required: Prepare the journal entries for 2012. --

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