東吳大學 106 學年度碩士班研究生招生考試試題第 1 頁, 共 7 頁 鐘 作答注意事項 : 可使用計算機 ; 計算題請詳列算式, 否則不予計分 ; 請按題號順序作答於答案卷內 ( 切勿於本試題紙上作答 ) 一 選擇題 ( 每題 2%, 共計 30%) Use the following information for Questions 1 and 2. Gomez, Inc. began work in 2015 on contract #3814, which provided for a contract price of $7,200,000. Other details follow: 2015 2016 Costs incurred during the year $1,200,000 $3,675,000 Estimated costs to complete, as of December 31 3,600,000 0 Billings during the year 1,350,000 5,400,000 Collections during the year 900,000 5,850,000 1. Assume that Gomez uses the percentage-of-completion method of accounting. The portion of the total gross profit to be recognized as income in 2015 is a. $450,000. b. $600,000. c. $1,800,000. d. $2,400,000. 2. Assume that Gomez uses the cost-recovery method of accounting. The portion of the total gross profit to be recognized as income in 2016 is a. $900,000. b. $1,350,000. c. $2,325,000. d. $7,200,000. 3. Plank Co. uses the retail inventory method. The following information is available for the current year. Cost Retail Beginning inventory $ 78,000 $122,000 Purchases 293,000 413,000 Freight-in 3,000 Employee discounts 5,000 Sales discounts 3,000 Net markups 15,000 Net markdowns 20,000 Sales (after employee discounts) 390,000 The approximate cost of the ending inventory by the conventional retail method is a. $91,800. b. $97,240. c. $95,270. d. $95,200. Use the following information for Questions 4 and 5. Dub Dairy produces milk to sell to local and national ice cream producers. Dub Dairy began operations on January 1, 2015 by purchasing 840 milk cows for $1,176,000. The company controller had the following information available at year end relating to the cows:
東吳大學 106 學年度碩士班研究生招生考試試題第 2 頁, 共 7 頁 Milking cows Carrying value, January1, 2015 $1,176,000 Change in fair value due to growth and price changes 365,000 Decrease in fair value due to harvest (42,000) Milk harvested during 2015 but not yet sold $54,000 鐘 4. At December 31, 2015, what is the value of the milking cows on Dub Dairy s statement of financial position? a. $1,176,000. b. $1,541,000. c. $1,134,000. d. $1,499,000. 5. On Dub Dairy s income statement for the year ending December 31, 2015, what amount of unrealized gain on harvested milk will be reported? a. No gain is reported until the milk is sold. b. $12,000. c. $54,000. d. $311,000. 6. Ace Co. prepared an aging of its accounts receivable at December 31, 2015 and determined that the net realizable value of the receivables was $300,000. Additional information is available as follows: Allowance for uncollectible accounts at 1/1/15 credit balance $ 34,000 Accounts written off as uncollectible during 2015 23,000 Accounts receivable at 12/31/15 325,000 Uncollectible accounts recovered during 2015 5,000 For the year ended December 31, 2015, Ace s bad debt expense would be a. $25,000. b. $23,000. c. $9,000. d. $16,000. 7. Archer Company purchased equipment in January of 2005 for $90,000. The equipment was being depreciated on the straight-line method over an estimated useful life of 20 years, with no residual value. At the beginning of 2015, when the equipment had been in use for 10 years, the company paid $15,000 to overhaul the equipment. As a result of this improvement, the company estimated that the useful life of the equipment would be extended an additional 5 years. What should be the depreciation expense recorded for this equipment in 2015? a. $3,000. b. $4,000. c. $4,500. d. $5,500. 8. Jacob, Inc., changed from the average cost to the FIFO cost flow assumption in 2016. The increase in the prior year s income before taxes is $1,100,000. The tax rate is 35%. Jacob s 2016 journal entry to record the change in accounting policy will include. a. a debit to Retained Earnings for $1,100,000. b. a credit to Retained Earnings for $1,100,000. c. a debit to Inventory for $715,000. d. a credit to Deferred Tax Liability for $385,000.
東吳大學 106 學年度碩士班研究生招生考試試題第 3 頁, 共 7 頁 鐘 9. On January 2, 2015, Tong Inc. purchased equipment with a cost of $10,440,000, a useful life of 10 years and no salvage value. The Company uses straight-line depreciation. At December 31, 2015 and December 31, 2016, the company determines that impairment indicators are present. The following information is available for impairment testing at each year end: 12/31/2015 12/31/2016 Fair value less cost to sell $9,315,000 $8,350,000 Value-in-use $9,350,000 $8,315,000 There is no change in the asset s useful life or salvage value. The 2016 income statement will report a. Recovery of Impairment Loss of $3,889. b. Impairment Loss of $10,000. c. Recovery of Impairment Loss of $38,889. d. Recovery of Impairment Loss of $2,000. Use the following information for questions 10 and 11. Langley Company s December 31 year-end financial statements contained the following errors: Dec. 31, 2014 Dec. 31, 2015 Ending inventory $7,500 understated $11,000 overstated Depreciation expense 2,000 understated An insurance premium of $18,000 was prepaid in 2014 covering the years 2014, 2015, and 2016. The prepayment was recorded with a debit to insurance expense. In addition, on December 31, 2015, fully depreciated machinery was sold for $9,500 cash, but the sale was not recorded until 2016. There were no other errors during 2015 or 2016 and no corrections have been made for any of the errors. Ignore income tax considerations. 10. What is the total net effect of the errors on Langley s 2015 net income? a. Net income understated by $14,500. b. Net income overstated by $7,500. c. Net income overstated by $13,000. d. Net income overstated by $15,000. 11. What is the total net effect of the errors on the amount of Langley s working capital at December 31, 2015? a. Working capital overstated by $5,000. b. Working capital overstated by $1,500. c. Working capital understated by $4,500. d. Working capital understated by $12,000.
東吳大學 106 學年度碩士班研究生招生考試試題第 4 頁, 共 7 頁 鐘 12. Strickland Industries purchased a 30% interest in Spartan, Inc. for $600,000. Spartan, Inc. has 100,000 $10 par value ordinary shares outstanding. This investment enables Strickland to exert significant influence over Spartan. During the year, Spartan earned net income of $360,000 and paid dividends of $120,000; Strickland earned net income of $48,000 and paid dividends of $160,000. At the end of the year, the shares of Spartan were trading on an organized exchange for $22 per share. On Strickland s year-end statement of financial position, its investment in Spartan, Inc. will be valued at a. $600,000. b. $660,000. c. $672,000. d. $696,000. 13. During 2016, equipment was sold for $156,000. The equipment cost $252,000 and had a book value of $144,000. Accumulated Depreciation Equipment was $687,000 at 12/31/15 and $735,000 at 12/31/16. Depreciation expense for 2016 was a. $60,000. b. $96,000. c. $156,000. d. $192,000. 14. The balance in retained earnings at December 31, 2015 was $720,000 and at December 31, 2016 was $582,000. Net income for 2016 was $500,000. A share dividend was declared and distributed which increased share capital $200,000 and share premium $110,000. A cash dividend was declared and paid. The amount of the cash dividend was a. $248,000. b. $328,000. c. $442,000. d. $638,000. 15. Roman Company leased equipment from Koenig Company on July 1, 2016, for an eight-year period expiring June 30, 2024. Equal annual payments under the lease are $300,000 and are due on July 1 of each year. The first payment was made on July 1, 2016. The rate of interest contemplated by Roman and Koenig is 8%. The cash selling price of the equipment is $1,861,875 and the cost of the equipment on Koenig s accounting records was $1,650,000. Assuming that the lease is appropriately recorded as a sale for accounting purposes by Koenig, what is the amount of profit on the sale and the interest income that Koenig would record for the year ended December 31, 2016? a. $0 and $0. b. $0 and $62,475. c. $211,875 and $62,475. d. $211,875 and $74,475. 二 計算及分錄 (70%, 配分如各題所示, 金額無法整除者, 請依各題之規定計算之 ) 1. ACC 公司於 8 月 31 日發生火災, 倉庫存貨幾乎全毀, 經搶救後, 存貨估計殘值為 $25,000 下列為該公司的相關紀錄: 期初存貨 $85,000 1 至 8 月份的進貨金額, 其中, 包含 8 月 30 日 FOB 起運點交貨的 400,000 在途存貨 $30,000 銷貨收入 500,000 若以銷貨成本表達的估計毛利率為 25%, 請依此計算存貨的損失金額 (5%)
東吳大學 106 學年度碩士班研究生招生考試試題第 5 頁, 共 7 頁 鐘 2. 大東公司所有收支均透過銀行支票存款帳戶, 下列資訊為其相關的現金 ( 支票存款 ) 記錄 : 5/31- 銀行往來調節表銀行對帳單餘額 $53,300 加 : 在途存款 4,200 減 : 未兌現支票 (6,000) 公司帳上餘額 $51,500 6 月份銀行往來記錄 銀行帳 公司帳 6/30 餘額 $? $? 6 月份收入 32,000 31,000 6 月份支出 25,000 21,000 6 月份代收票據 3,000-0- 6 月份手續費 95-0- 6 月份存款不足退票 1,000-0- 其他資訊 6/15 大東公司收到客戶支付帳款的支票一只, 金額為 $6,000, 會計人員卻誤記為 $9,000 公司簽發了二張支票用以購買設備, 經檢查發現 : 支票 #845 的金額為 $419, 但在現 金記錄簿上誤記為 $491; 而支票 #852 的金額為 $2,300, 亦被誤記為 $23 銀行誤將東大公司 6/20 的一筆存款 $1,500 計入大東公司的存款帳戶中 試作 :[ 不需編製銀行調節表 ] (a) 計算 6/30 的在途存款與未兌現支票 (8%) (b) 6 月底銀行對帳單的正確餘額 ( 調整後餘額 ) 為多少? (3%) (c) 請做必要的調整分錄 (4%) 3. 欣欣公司採發包方式興建辦公大樓一棟, 於 14 年 1 月 1 日正式動工建造, 並分別於下列日期支付相關的工程進度款 : 14 年 3 月 1 日 $2,000,000 15 年 3 月 1 日 $3,000,000 7 月 1 日 4,000,000 5 月 1 日 2,000,000 12 月 1 日 2,000,000 該項工程於 14 年 7 月 1 日至 9 月 30 日因承包公司事故而停工三個月, 並於 15 年 6 月
東吳大學 106 學年度碩士班研究生招生考試試題第 6 頁, 共 7 頁 系考試 鐘級時間科本科 目總分 30 日達到預定使用狀態,15 年 8 月 1 日正式落成啟用 欣欣公司為了興建該辦公大樓, 於 14 年 1 月 1 日向台灣銀行專案借款 $6,000,000, 期限為三年, 年利率 6%, 借款利息於每年 12 月 31 日支付 此外, 公司對於閒置借款資金均用於固定收益債券短期投資, 月收益率為 0.3% 欣欣公司另有兩筆非專案借款如下 : (1) 13 年 12 月 31 日向玉山銀行借款 $5,000,000, 五年期, 年利率 8%, 每年 12 月 31 日付息 (2) 12 年 12 月 31 日平價發行公司債 $50,000,000, 期限十年, 票面利率 10%, 每年 12 月 31 日付息 試計算以下各小題的相關金額 :[ 不需列示分錄, 但請詳列計算過程 加權平均借款利率請四捨五入後, 計算至小數點後二位, 如 3.25%] (a) 14 年度專案借款的應資本化淨利息成本 ( 請分別考慮利息費用與利息收入 ) (6%) (b) 14 年度動用一般借款資金的應資本化利息金額 (4%) (c) 14 年度實際付現利息 ( 即分錄中貸記現金的金額 ) (3%) (d) 15 年度專案借款的應資本化淨利息成本 (4%) (e) 15 年度動用一般借款資金的應資本化利息金額 (3%) 4. 東州公司 14 年度相關資料如下 : (1) 稅後淨利 $266,800 (2) 14 年 1 月 1 日普通股流通在外 50,000 股 (3) 14 年初發行認股證 6,000 張, 每張可按 $20 認購普通股 1 股,4 月 1 日有 4,000 張認股證行使認股權利, 其餘 2,000 張認股證至年底仍未行使 (14 年 1 月 1 日至 3 月 31 日普通股平均市價為 $25,3 月 31 日市價為 $30;14 年全年平均市價為 $40, 年底市價為 $45) (4) 14 年 1 月 1 日以面值每張 $1,000 發行 6%,5 年期轉換公司債 500 張, 每年 6 月 30 日及 12 月 31 日付息一次 自發行後半年起, 每張可轉換成普通股 10 股 14 年 7 月 1 日有 200 張之公司債持有人請求轉換 (5) 14 年 4 月 1 日發行 1,400 股 ( 股利率為 8%, 按季發放 ) 之可轉換特別股, 按每股面值 $100 發行, 每 1 股之特別股可轉換普通股 5 股,14 年 10 月 1 日有 800 股確實行使轉換權 (6) 所得稅率為 25% 試作 :[ 相關數據, 請計算至小數點後二位 ] 計算東州公司 14 年度之基本 (basic) 每股盈餘及稀釋 (diluted) 每股盈餘 (15%)
東吳大學 106 學年度碩士班研究生招生考試試題第 7 頁, 共 7 頁 鐘 5. SCU 公司已實施確定福利計畫多年, 下列為其精算師所提出之 2015 年度報告 : 2015 年 1 月 1 日 確定福利義務現值 $(1,200,000) 計畫資產公允價值 1,500,000 折現率 10% 2015 年度 當期服務成本 450,000 計畫資產之實際報酬 300,000 2015 年 12 月 31 日精算損失 225,000 提撥退休基金 375,000 支付退休福利 300,000 假設計畫剩餘中 40% 可由企業回收 試作 : (a) 計算 2015 年度退休福利成本中的 :[ 請詳細列示其組成項目, 不需編製工作底稿 ] 退休福利費用 (4%) 認列於其他綜合損益之淨確定福利資產再衡量數 (4%) (b) 計算 2015 年 12 月 31 日淨確定福利負債 ( 資產 ) (5%) (c) 作必要的分錄 (2%)