課程名稱︰會計學乙二下
課程性質︰必修
課程教師︰蔡彥卿
開課學院：管理學院
開課系所︰財金系
考試日期（年月日）︰99.05.05
考試時限（分鐘）：12:40-14:00 (80mins)
是否需發放獎勵金：是
（如未明確表示，則不予發放）
試題 :
Ⅰ. During January 2005, Jaguar Company for the first time decided to acquire
some equity securities as a means of putting some of its idle cash to
work. The securities are classified as available for sale. At March 31,
when Jaguar prepares its first quarter financial statements, the following
information about the acquired securities is available.
Securities Cost Market
A $22,000 $20,000
B 12,000 10,000
C 15,000 18,000
Required:
1. Prepare the journal entries to record the acquisition in January and
valuation at the end of the first quarter of 2005. (6 points)
2. Assume that on June 30, 2005, the company still has this same
portfolio. The market value of A is $25,000, B is $11,000, C is
$19,000. What journal entry, if any should be prepared at the end of
the second quarter? (3 points)
3. On Augest 15, 1005, Jaguar Company sold Security C for $20,000. Prepare
the journal entry to record this transaction. (6 points)
Ⅱ. Blank Co. acquired 25% of the 500,000 shares of outstanding common stock
of Overload Inc. on December 31, 2009. The purchase price was $3,600,000.
Overload declare and paid $2.40 per share cash divedend on June 18, 2010.
Overload reported net income of $1,200,000 for 2010. The fair value of
Overload common stock was $27 per share at December 31, 2010.
Required:
1. Prepare the journal entries for Blank Co. for 2010, assuming that Blank
cannot exercise significant influence over Overload. The securities
should be classified as available-for-sale. (8 points)
2. Prepare the journal entries for Blank Co. for 2010, assuming that Blank
can exercise significant influence over Overload. (8 points)
3. At what amount is the investment in securities reported on balance
sheet under each of these methods at December 31, 2010. What is the
total net net income reported in 2010 under each of these methods?
(12 points)
Ⅲ. On January 1, 2009, Hummer Company purchase 5% bonds, having a maturity
value of $500,000, for $428,938. The bonds provide the bondholder with a
7% yield. They are dated January 1, 2009, and mature January 1, 2019, with
interest receivable June 30 and December 31 of each year. Hummer Conpany
used the effective-interest method to allocate unamortized discount of or
premium. The bonds are classfied in the held-to-maturity category.
Required:
1. Prepare the journal entry at the date of the bond purchase. (4 points)
2. Prepare the journal entry to record the interest received and the
amortization for 2009. (8 points)
Ⅳ. Young Tree Construction Company uses the precentage-of-completion method
of accounting. In 2010, Young Tree began work under a contract with a
contract with a contract price of $1,500,000. Other details follow:
2010 2011
Cost incurred during the year. $980,000 $1,375,000
Estimated cost to complete, as of December 31. 420,000 -0-
Billings to date 800,000 1,500,000
Collections to date 250,000 1,500,000
Required:
1. What portion of the total contract price would be recognized as revenue
in 2010? In 2011? (6 points)
2. Assuming the same fact as those above except that Young Tree uses the
complete-contract method of accounting, what portion of the total
contract price would be recognized as revenue in 2010? In 2011?
(6 points)
3. Prepare a complete set of journal entries for 2010 (using precentage-
of-completion). (12 points)
Ⅴ. Sawyer Furniture Company conclude its first year of operations in which it
made sales of $600,000, all on installment. Colletion during the first
year from down payments and installment totaled $250,000. Purchases for
the year totaled $400,000; the cost of merchandise on hand at the end of
the year was $40,000.
Required:
1. Using the installment-sales method, make summary entries to record:
(1) The installment sales and cash collections. (6 points)
(2) The cost of installment sales. (3 points)
(3) The unrealized gross profit. (3 points)
(4) The realized gross profit. (3 points)
2. Using the cost-recovery method, compute the amount of gross profit
realized for the first year and the second year, assuming collections
during the second year totaled $250,000. (6 points)
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