課程名稱︰會計學甲一上
課程性質︰大一必修
課程教師︰卓佳慶
開課學院：社會科學院
開課系所︰經濟系
考試時間︰2006.12.1 3:30~6:00
是否需發放獎勵金：是
（如未明確表示，則不予發放）
試題 :
經濟系 會計學甲 第二次小考
考試時間︰3:30~6:00
一 (16 points) Neal Pharmacy reported cost of goods sold as follows:
2004 2005
Beginning inventory $ 54,000 $ 64,000
Cost of goods purchased 847,000 891,000
Cost of goods available for sale 901,000 955,000
Ending inventory 64,000 55,000
Cost of goods sold $ 837,000 $ 900,000
============ ============
Neal made two errors:
(1) 2004 ending inventory was overstated by $8,000.
(2) 2005 ending inventory was understated by $20,000.
Instructions
Assuming the errors had not been corrected, indicate the dollar effect that
the errors had on the items appearing on the financial statements listed
bellow. Also indicate if the amounts are overstated (O) or understated (U).
2004 2005
amounts O/U amounts O/U
Total assets
Owner's Equity
Cost of Goods Sold
Net Income
二 (15 points) Below are some typical transcations iccurred by Farley Company.
1. Purchase of merchandise on account.
2. Collection on account from customers.
3. Payment of employee's wages.
4. Sales of merchandise for cash.
5. Close Income Summary to owner's capital.
6. Adjusting entry for depreciation on machinery.
7. Payment of creditors on account.
8. Purchase of office equipment on credit.
9. Sales discount taken on goods sold on credit.
10.Sales of merchandise on account.
11.Purchase of a delivery truck for cash.
12.Return of merchandise purchased on credit.
13.Payment of rent in advance.
14.Adjusting entry for accrued interest expense.
15.Purchase of office supplies for cash.
For each transaction, indicate by the code letter the appropriate journal
where the transaction would be journalized.
CR--Cash Receipts Journal P--Single-Column Purchases Journal
CP--Cash Payments Journal G--General Journal
S--Sales Journal
三 (24 points) Romano Company had the following purchases and sales
during March.
Purchases Sales
Units Unit Cost Units Price/Unit
3/1 Beginning inventory 100 $40
3/3 Purchase 60 $50
3/4 Sales 70 $80
3/10 Purchase 200 $55
3/16 Sales 80 $90
3/19 Purchase 40 $60
3/25 Sales 150 $90
Required
Calculate the amount charged to cost of goods sold for March and inventory on
hand on March 31. Write your answers in the following table and show the
computation process.
┌─────────┬─────────────┬─────────────┐
│ │Periodic inventory system │Perpetual inventory system│
│ ├─────┬───────┼─────┬───────┤
│ │ COGS │ inventory │ COGS │ inventory │
├─────────┼─────┼───────┼─────┼───────┤
│ FIFO │(1) │(2) │(7) │(8) │
├─────────┼─────┼───────┼─────┼───────┤
│ *average method │(3) │(4) │(9) │(10) │
├─────────┼─────┼───────┼─────┼───────┤
│ LIFO │(5) │(6) │(11) │(12) │
└─────────┴─────┴───────┴─────┴───────┘
*Round per unit cost to the nearest cent, and final answer to the nearst dollar
四 (7 points) Moss Motors estimates its inventory by the gross profit method
when preparing monthly financial statements. For the past two years, gross
profit has averaged 30% of net sales. Assume further that the company's
inventory records reveal the following data(amounts in thousands):
Inventory, March 1 $ 292
Transactions during March
Purchases 6,585
Purchase discounts 149
Purchase returns 8
Sales 8,657
Sales returns 17
Required
1. Estimate the March 31 inventory using the gross profit method.
2. Prepare the March income statement through gross profit for Moss Motors.
五 (36 points) Assume the following transactions occurred between Bristol-Myers
Squibb (BMS), the health-care products company, and Walgreen Co., the pharmacy
chain, during February of the current year:
2/6 BMS sold $8,000 worth merchandise to Walgreen on terms of 3/10 n/30, FOB
shipping point. BMS prepaid freight charges of $500 and included this
amount in the invoice total. (BMS's entry to record the freight payment
debits Accounts Receivable and credits Cash). These goods cost BMS $6,100.
2/10 Walgreen returned $900 of the merchandise purchased on February 6. BMS
accounted for the $900 sales return and placed the goods back in inventory
(BMS's cost, $590)
2/15 Walgreen paid $3,000 of the invoice amount owed to BMS for the February 6
purchase, less the discount. This payment included none of the freight charge.
2/27 Walgreen paid the remaining amount owed to BMS for the February 6 purchase
Required
Journalize these transactions, first on the books of Walgreen and second on the
books of BMS.
1. Use the perpetual inventory system.
2. Use the periodic inventory system.
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