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1 中 原 大 學 95 學 年 度 轉 學 考 招 生 入 學 考 試 7 月 12 日 14:00~15:30 商 學 群 組 二 年 級 科 目 : 會 計 學 ( 共 七 頁 第 一 頁 ) 可 使 用 計 算 機, 惟 僅 限 不 具 可 程 式 及 多 重 記 憶 者 一 MULTIPLE CHOICE QUESTIONS: (50%) 誠 實 是 我 們 珍 視 的 美 德, 我 們 喜 愛 拒 絕 作 弊, 堅 守 正 直 的 你! 1.Stock dividends and stock splits have the following effects on retained earnings: Stock Splits Stock Dividends a. Increase No change b. No change Decrease c. Decrease Decrease d. No change No change 2.The revenue recognition principle dictates that revenue should be recognized in the accounting records a. when cash is received. b. when it is earned. c. at the end of the month. d. in the period that income taxes are paid. 3.Simon Company issued 4,000 shares of its $5 par value common stock in payment of its attorney's bill of $30,000. The bill was for services performed in helping the company incorporate. Simon should record this transaction by debiting a. Legal Expense for $20,000. b. Legal Expense for $30,000. c. Organization Expense for $20,000. d. Organization Expense for $30, Reeves Company originally issued 1,000 shares of $10 par value common stock for $30,000 ($30 per share). Reeves subsequently purchases 100 shares of treasury stock for $27 per share and resells the 100 shares of treasury stock for $29 per share. In the entry to record the sale of the treasury stock, there will be a a. credit to Common Stock for $2,700. b. credit to Treasury Stock for $1,000. c. debit to Paid-In Capital in Excess of Par Value of $3,000. d. credit to Paid-In Capital from Treasury Stock for $ The accounting process is correctly sequenced as a. identification, communication, recording. b. recording, communication, identification. c. identification, recording, communication. d. communication, recording, identification. 6.The cost principle requires that when assets are acquired, they be recorded at a. appraisal value.

2 b. exchange price paid. c. selling price. d. list price. 7.The relationship between current assets and current liabilities is important in evaluating a company's a. profitability. b. liquidity. c. market value. d. accounting cycle. 8.Correcting entries a. always affect at least one balance sheet account and one income statement account. b. affect income statement accounts only. c. affect balance sheet accounts only. d. may involve any combination of accounts in need of correction. 9.If a purchaser using a perpetual system agrees to freight terms of FOB shipping point, then the a. Merchandise Inventory account will be increased. b. Merchandise Inventory account will not be affected. c. seller will bear the freight cost. d. carrier will bear the freight cost. 10.Flynn Company purchased merchandise inventory with an invoice price of $3,000 and credit terms of 2/10, n/30. What is the net cost of the goods if Flynn Company pays within the discount period? a. $3,000. b. $2,940. c. $2,700. d. $2, Baden Shoe Store has a beginning merchandise inventory of $15,000. During the period, purchases were $70,000; purchase returns, $2,000; and freight-in $5,000. A physical count of inventory at the end of the period revealed that $10,000 was still on hand. The cost of goods available for sale was a. $82,000 b. $78,000 c. $88,000 d. $92, Westcoe Company's goods in transit at December 31 include: sales made purchases made (1) FOB destination (3) FOB destination (2) FOB shipping point (4) FOB shipping point Which items should be included in Westcoe's inventory at December 31? a. (2) and (3)

3 b. (1) and (4) c. (1) and (3) d. (2) and (4) 13.In periods of rising prices, the inventory method which results in the inventory value on the balance sheet that is closest to current cost is the a. FIFO method. b. LIFO method. c. average cost method. d. tax method. 14.If beginning inventory is understated by $10,000, the effect of this error in the current period is Cost of Goods Sold Net Income a. Understated Understated b. Overstated Overstated c. Understated Overstated d. Overstated Understated 15.Dolan Company had checks outstanding totaling $5,400 on its June bank reconciliation. In July, Dolan Company issued checks totaling $38,900. The July bank statement shows that $26,300 in checks cleared the bank in July. A check from one of Dolan Company's customers in the amount of $300 was also returned marked "NSF." The amount of outstanding checks on Dolan Company's July bank reconciliation should be a. $12,600. b. $18,000. c. $17,700. d. $7, Compensating balances are a restriction on the use of a company's cash and should be a. reported as a current asset. b. reported as a noncurrent asset. c. disclosed in the financial statements. d. reported as a reduction of cash. 17.Under the allowance method, writing off an uncollectible account a. affects only balance sheet accounts. b. affects both balance sheet and income statement accounts. c. affects only income statement accounts. d. is not acceptable practice. 18.An aging of a company's accounts receivable indicates that $8,000 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $1,100 credit balance, the adjustment to record bad debts for the period will require a a. debit to Bad Debts Expense for $8,000. b. debit to Allowance for Doubtful Accounts for $6,900.

4 c. debit to Bad Debts Expense for $6,900. d. credit to Allowance for Doubtful Accounts for $8, When a note receivable is dishonored, a. interest revenue is never recorded. b. bad debts expense is recorded. c. the maturity value of the note is written off. d. Accounts Receivable is debited if eventual collection is expected. 20.Recording depreciation each period is necessary in accordance with the a. going concern principle. b. cost principle. c. matching principle. d. asset valuation principle. 21.Costs incurred to increase the operating efficiency or useful life of a plant asset are referred to as a. capital expenditures. b. expense expenditures. c. ordinary repairs. d. revenue expenditures. 22.A truck costing $88,000 was destroyed when its engine caught fire. At the date of the fire, the accumulated depreciation on the truck was $40,000. An insurance check for $100,000 was received based on the replacement cost of the truck. The entry to record the insurance proceeds and the disposition of the truck will include a a. Gain on Disposal of $12,000. b. credit to the Truck account of $48,000. c. credit to the Accumulated Depreciation account for $40,000. d. Gain on Disposal of $52, A contingent liability is recorded when the amount can be reasonably estimated and the likelihood of the contingency is a. remote. b. reasonably possible. c. probable. d. unlikely. 24.On August 1, 2005, a company borrowed cash and signed a one-year interest-bearing note on which both the face value and interest are payable on August 1, How will the note payable and the related interest be classified in the December 31, 2005, balance sheet? Note Payable Interest Payable a. Current liability Noncurrent liability b. Noncurrent liability Current liability c. Current liability Current liability d. Noncurrent liability Not shown

5 25.The partnership of Nott and Starr reports net income of $80,000. The partners share equally in income and losses. The entry to record the partners' share of net income will include a a. credit to Income Summary for $80,000. b. credit to Nott, Capital for $40,000. c. debit to Starr, Capital for $40,000. d. credit to Starr, Drawing for $40,000. 二 1. Harry Corp. provides the following financial data: Items Year 2007 Year 2006 Assets Cash $143,050 $123,925 Accounts receivable 34,125 39,825 Inventory 156, ,475 Prepaid insurance 3,600 1,650 Land 200,000 0 Equipment 135, ,700 Accum. depreciation, Equipment (61,950) (47,550) Totals $310,650 $311,025 Liabilities and shareholders equity Accounts payable $ 28,800 $ 33,750 Income taxes payable 5,100 4,425 Dividends payable 0 4,500 Notes payable 200,000 0 Bonds payable 0 37,500 Common stock, $10 par 176, ,750 Retained earnings 100,000 54,100 Totals $310,650 $311,025 Income statement Sales $ 446,100 Cost of goods sold $222,300 Other operating expenses 120,300 Depreciation expenses 25,500 Income taxes expense 13,725 (381,825) Loss on sale of equipment (3,300) Loss on retirement of bonds (825) Net income $ 60,150 Other information:

6 a. All sales and all are made on credit. b. All inventory purchases are on credit. c. Accounts payable balances result from inventory purchases. d. Prepaid insurance relate to other operating expenses. e. Equipment was purchased for cash. And equipment costing $21,375 with accumulated depreciation of $11,000 was sold for cash. f. Land costing $200,000 was purchased for long-term notes payable. g. The change in the balance of accumulated depreciation resulted from depreciation expense and from the sale of equipment. h. The change in the balance of retained earnings resulted from dividend declarations and net income. Required: Prepare a statement of cash flows using the direct method for year 2007.(25%) 2. Apple Corp. issues $200,000 of bonds that pay 8%annual interest with two semiannual payments. The date of issuance is January 1, 2006, and the interest is paid on June 30 and December 31. The bonds mature after 3 years and the market interest rate is 10%. (rounded to the nearest dollar) Required: a. Determine the issued price of the bonds.(5%) b. Determine the total bond interest that will be recognized over the life of these bonds. (4%) c. Prepare the journal entries that Apple Corp. would make to record the third and fourth interest payments. (8%) d. Prepare the journal entry that would be made to record the retirement of these bonds on November 30, 2008, at a price of 95. (8%)

a. $ 65,000. b. $ 80,000. c. $130,000. d. $145,000.

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