課程名稱︰會計學乙下
課程性質︰必修
課程教師︰葉疏
開課學院：管理學院
開課系所︰財金系
考試日期（年月日）︰96.5.7
考試時限（分鐘）：100分鐘
是否需發放獎勵金：是
（如未明確表示，則不予發放）
試題 :
1. On Jan 1, 2008, Titania Inc. granted stock options to offers and key
employees for the purchase of 20000 shares of the company's $10 par common
stock at $25 per share. The options were exercisable within a 5-year period
beginning Jan 1, 2010, by grantees still in the employ of the company, and
expiring Dec. 31, 2014. The service period for the award is 2 years. Assume
that the fair value option pricing model determines total compensation
expense to be $350000.
On April 1, 2009, 2000 options were terminated when the employees resigned
from the company. The market value of the common stock was $35 per share
on the date. On March 31, 2010, 12000 options were exercised when the
market value of the common stock was $40 per share.
Required:
Prepare journal entries to record issuance of the stock options, termination
of the stock options, and charges to compensation expense, for the years
ended Dec 31, 2008, 2009 and 2010. (32%)
2. Kenseth Company has the following securities in its trading portfolio
of securities on Dec 31, 2006 (30%)
Investments (Trading) Cost FV
1500 shares of Gordon, Inc...Common $73500 $69000
5000 shares of Wallace Corp, ...Common 180000 175000
400 shares of Martin, Inc ...Preferred 60000 61500
--------- -------
$313500 $305600
All of the securities were purchased in 2006.
In 2007, Kenseth completed the following securities transactions.
March 1 Sold the 1500 shares of Gordon, Inc...Common
@ $45 less fees of $1200
April 1 Bought 700 shares of Earnhart Corp, Inc...Common
@ $75 plus fees of $1300
Kenseth Company's portfolio of trading securities appeared as follows on
Dec 31, 2007.
Investments (Trading) Cost FV
700 shares of Earnhart, Inc...Common $53800 $50400
5000 shares of Wallace Corp, ...Common 180000 175000
400 shares of Martin, Inc ...Preferred 60000 58000
--------- -------
$293800 $283400
Instructions:
Prepare the general journal entries for Kenseth Company for"
(a) The 2006 adjusting entry.
(b) The sale of the Gordon stock.
(c) The purchase of the Earnhart stock.
(d) The 2007 adjusting entry for the trading portfolio.
3. Assume that the following data relative to Eddy Company for 2007 is
available:
Net Income $2100000
Transactions in Common Shares Change Cumulative
Jan 1 ,2007, Beginning number 700000
Jan 1 ,2007, Purchase of treasury shares (60000) 640000
June 1 ,2007, Stock Split 2-1 640000 1280000
Nov 1, 2007, Issuance of shares 120000 1400000
8% Cumulative Convertible Preferred Stock
Sold at par, convertible into 200000 shares of common
(adjusted for split). $1000000
Stock Opions
Exercisable at the option price of $25 per share.
Average market price in 2007, $30 60000 shares
Required: (20%)
(a) Compute the basic earnings per share for 2007. (6%)
(b) Compute the diluted earnings per share for 2007. (14%)
4. On Jan 1, 2007, Pennington Corporation purchased 30% of the common shares
of Edwards Company for $180000. During the year, Edwards earned net income
of $80000 and paid dividends of $20000.
Required: Prepare the entries for Pennington to record the purchase and any
additional entries related to this investment in Edwards Company
in 2007 (18%)
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