107年 - [非官方正解]107 東吳大學_暑假轉學生招生考試_會計學系三年級：會計學（二）#105769

科目：研究所、轉學考(插大)◆會計學（二） | 年份：107年 | 選擇題數：18 | 申論題數：23

試卷資訊

選擇題 (18)

1. To be a faithful representation as described by the International Accounting Standards Board’s (IASB’s) Conceptual Framework, information must be all of the following except: (A) Confirmatory. (B) Neutral. (C)Complete. (D) Free from error.

2. Which of the following basic assumptions of accounting (used by the International Accounting Standards Board) makes depreciation and amortization policies justifiable and appropriate? (A) Periodicity. (B) Monetary unit. (C)Going concern. (D) Decision usefulness

3. Which of the following is not treated as a change in accounting policy? (A) A change from cost-recovery to percentage-of-completion (B) A change from average cost to FIFO for inventory valuation (C)A change to a different method of depreciation for plant assets (D) A change from full-cost to successful efforts in the extractive industry

4. An example of a correction of an error in previously issued financial statements is a change (A) in the service life of plant assets, based on changes in the economic environment. (B) from the FIFO method of inventory valuation to the average cost method. (C)from the cash basis of accounting to the accrual basis of accounting. (D) in the tax assessment related to a prior period.

5. KKK, Inc.estimates the cost of its physical inventory at March 31 for use in an interim financial
statement. The rate of markup on cost is 25%. The following account balances are available:

The estimate of the cost of inventory at March 31 would be
(A) £144,000. (B) £84,000. (C)£159,000. (D) £112,000.

6. In an exchange with commercial substance, HHH Company traded equipment with a cost of ¥8,200,000 and book value of ¥3,120,000 and gave ¥4,698,000 cash. The old machine had a fair value of ¥2,960,000. Which of the following journal entries would HHH make to record the exchange?
(A)
(B)
(C)
(D)

7. On September 19, 2018, MMM Co. purchased machinery for £190,000. Residual value was estimated to be £10,000. The machinery will be depreciated over eight years using the sum-of-the-years'-digits method. If depreciation is computed on the basis of the nearest full month, MMM should record depreciation expense for 2019 on this machinery of (A) £40,903. (B) £38,750. (C)£38,845. (D) £35,000.

8. The journal entry to record depreciation for year one will include a (A) debit to Accumulated Depreciation for €200,000. (B) debit to Depreciation Expense for €200,000. (C)debit to Depreciation Expense for €50,000. (D) credit to Accumulated Depreciation for €50,000.

9. The journal entry to adjust the plant assets to fair value and record revaluation surplus in year one will include a (A) debit to Accumulated Depreciation for €50,000. (B) credit to Revaluation Surplus for €150,000. (C)credit to Depreciation Expense for €150,000. (D) credit to Plant Assets for €150,000.

10. The financial statements for year one will include the following information (A) Plant assets €750,000. (B) Accumulated depreciation €200,000. (C)Depreciation expense €50,000. (D) Revaluation surplus €50,000.

11. The entry to record depreciation for this same asset in year two will include a (A) debit to Accumulated Depreciation for €200,000. (B) credit to Accumulated Depreciation for €150,000. (C)debit to Depreciation Expense for €200,000. (D) debit to Depreciation Expense for €250,000.

12. TTT, Inc.sells collectible jewelry on consignment from various manufacturers. Additionally, TTT sells its own line of specialty jewelry manufactured in-house. On December 31, 2019, during TTT, Inc 's annual inventory count, an inexperienced new staff member included in TTT’s ending inventory €350,000 worth of inventory held on consignment from MMM Associates. Which of the following is correct regarding the impact of this error on TTT’s income statement and statement of financial position at December 31, 2019? (A) Ending inventory is understated by €350,000. (B) Cost of goods sold is overstated by €350,000. (C)Retained earnings is overstated by €350,000. (D) The financial statements are correctly stated.

13. If the beginning inventory for 2018 is overstated, the effects of this error on cost of goods sold for 2018, net income for 2018, and assets at December 31, 2019, respectively, are (A) overstatement, understatement, overstatement. (B) understatement, overstatement, overstatement. (C)understatement, overstatement, no effect. (D) overstatement, understatement, no effect.

14. Basic earnings per share for 2019 is (rounded to the nearest penny) (A) €2.94. (B) €3.22. (C)€3.60. (D) €3.35.

15. Diluted earnings per share for 2019 is (rounded to the nearest penny) (A) €2.77. (B) €2.81. (C)€3.33. (D) €3.05.

16. The 2018 income statement will report Loss on Impairment of (A) €205,000. (B) €0. (C)€440,000. (D) €460,000.

17. The 2019 (second year) income statement will report depreciation expense for the equipment of (A) €216,667. (B) €236,364. (C)€255,000. (D) €260,000.

18. On January 2, 2018, QQQ Inc.purchased equipment with a cost of HK$10,440,000, a useful life of 10
years and no salvage value. The Company uses straight-line depreciation. At December 31, 2018 and
December 31, 2019, the company determines that impairment indicators are present. The following
information is available for impairment testing at each year end:

There is no change in the asset’s useful life or salvage value. The 2019 income statement will report (A) Recovery of Impairment Loss of HK$38,889. (B)Impairment Loss of HK$10,000.(C)Recovery of Impairment Loss of HK$3,889. (D) Impairment Loss of HK$1,000,000.

申論題 (23)

(a) Prepare the journal entries required for the depot and the environmental liability on January 1, 2015.

(b) Prepare any journal entries required for the depot and the environmental liability on December 31, 2015. BBB uses straight-line depreciation； the estimated residual value for the depot is zero.

(c) On December 31, 2024, BBB pays a demolition firm to dismantle the depot and remove the tanks at a price of $30,000. Prepare the journal entry for the settlement of the environmental liability.

(a) Compute deferred tax asset and deferred tax liability at December 31, 2015.

(b) Compute taxable income for 2015.

(d) Assuming that the company reports pretax financial income of £200,000 in 2016, prepare the journal entry to record income taxes payable, deferred taxes, and income tax expense for 2016.

(a) Compute pension expense for 2015 and 2016.

(b) Compute “asset gains and losses” for 2015 and 2016 and “liability gains and losses” for 2015.

(c) Prepare the journal entries to record the pension expense and the company's funding of the pension plan for both years.

(a) Prepare the journal entry to record this transaction (sales and warranty arrangement) on December 31, 2018.

(b) Repeat the requirements for (a), assuming that in addition to the assurance warranty, Dieker sold an extended warranty (service type warranty) for an additional 2 years (2020–2021) for $2,000.

(a) From the information above, prepare the operating activity section of statement of cash flows (indirect method) for HHH, In(C)for the year ended December 31, 2016.

(b) From the information above, prepare a schedule of cash provided by operating activities using the direct metho(D)

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(1) Sales and receivables are entered at gross selling price.

(2) Sales and receivables are entered at net of cash discounts.

6. On June 3, BBB Company sold to AAA Company merchandise having a sales price of £3,000 with terms of 2/10, n/60. An invoice totaling £90, terms n/30, was received by AAA on June 8 from JB Transport Service for the freight cost. On June 12, the company received a check for the balance due from AAA Company. Instructions (b) Prepare the journal entry under basis (a)(2), assuming that AAA Company did not remit payment until July 29.

(a) December 31, 2014.

(b) December 31, 2015.

(d) December 31, 2017.

(e) December 31, 2018.