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.
--
※ 發信站: 批踢踢實業坊(ptt.cc)
◆ From: 140.112.247.94
※ 編輯: jesonk 來自: 140.112.247.94 (12/22 03:54)