課程名稱︰會計學乙
課程性質︰系定必修
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）︰2009.11.18
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.Prepare journal entries for the following events in(A)Gross Method,
(B)Net Method
(1)Sales of $15,000,terms 2/10, n/30.
(2)Payment of $6,000 received within discount period
(3)Payment of $9,000 received after discount period
2.Prepare journal entries for Lott Co. for:
(a)Accounts receivable in the amount of $500,000 were assigned to
Vance Finace Co. by Lott as security for a loan of $425,000. Vance charged
a 3% commission on the accounts; the interest rate on the note is 12%.
(b)During the first month, Lott collected $200,000 on assigned accounts after
deducting $450 of discounts. Lott wrote off a $530 assigned account.
(c)Lott paid to Vance the amount collected plus one month's interst on the
note.
3.Baker Company owns a plot of land on which buried toxic wastes have been
discovered.Since it will require several tears and a considerable sum of
money before the property is fully detoxified and capable of generating
revenues, Baker wishes to sell the land now.It has located two potential
buyers: Buyer A, who is willing to pay $320,000 for the land now, and Buyer
B, who is willing to make 20 annual payments of $50,000 each, with the first
payment to be made 5 years from today.Assuming that the appropriate rate of
interest is 9%, to whom should Baker sell the land? Show calculations.
4.Find the present value of an investment in equipment if it is expected to
provide annual savings of $10,000 for 10 years and to have a resale value of
$25,000 at the end of that period.Assume an interest rate of 9% and that
savings are realized at year end.
5.How much must be invested now to receive $20,000 for ten years if the first
$20,000 is received today and the rate is 8%?
6.The trial balance before adjustment of Pratt Company reports the following
balances:
Dr. Cr.
──────────────
Accounts receivable $100,000
Allowance for doubtful accounts $ 2,500
Sales(all on credit) 750,000
Sales returns and allowances 40,000
Instructions
(a)Prepare the entries for estimated bad debts assuming that doubtful accounts
are estimated to be(1)6% of gross accounts receicables and(2)1% of net sales.
(b)Assume that all the information above is the same, except that the Allowance
for Doubtful Accounts has a debit balance of $2,500 instead of a credit
balance.How will this difference affect the journal entries in part (a)?
7.If the month-end bank statement shows a balance of $36,000, outstanding
checks are $12,000, a deposit of $4,000 was in transit at month end, and a
check for $500 was erroneously charged by the bank against the account, the
correct balance in the bank account at month end is
a.$27,500. b.$28,500
c.$20,500. d.$43,500
Use the following information for question 8. and 9.
On February 1,2010, Henson Company factored receivables with a carrying amount
of $300,000 to Agee Company.Agee Company assesses a finance charge of 3% of the
receivables and retains 5% of the receivables. Relative to this trnsaction, you
are to determine the amount of loss on sale to be reported in the income
statement of Henson Company for February.
8.Assume that Henson factors the receivables on a without recourse basis.The
loss to be reported is
a.$0. b.$9,000.
c.$15,000. d.$24,000.
9. Assume that Henson factors the receivables on a with recourse basis.The
recourse obligation has a fair value of $1,500. The loss to be reported is
a.$9,000. b.$10,500.
c.$15,000. d.$25,500.
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