中 原 大 學 97 學 年 度 碩 士 班 入 學 考 試

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1 中 原 大 學 97 學 年 度 碩 士 班 入 學 考 試 4 月 13 日 11:00~12:30 會 計 學 系 甲 組 誠 實 是 我 們 珍 視 的 美 德, 我 們 喜 愛 拒 絕 作 弊, 堅 守 正 直 的 你! 科 目 : 中 級 會 計 學 ( 共 4 頁 第 1 頁 ) 可 使 用 計 算 機, 惟 僅 限 不 具 可 程 式 及 多 重 記 憶 者 不 可 使 用 計 算 機 1. Conn Co. reported a retained earnings balance of $400,000 at December 31, In August 2007, Conn determined that insurance premiums of $60,000 for the three-year period beginning January 1, 2006, had been paid and fully expensed in Conn has a 30% income tax rate. What amount should Conn report as adjusted beginning retained earnings in its 2007 statement of retained earnings?(3 2. Hansen Construction, Inc. has consistently used the percentage-of-completion method of recognizing income. During 2007, Hansen started work on a $3,000,000 fixed-price construction contract. The accounting records disclosed the following data for the year ended December 31, 2007: Costs incurred $930,000 Estimated cost to complete 2,170,000 Progress billings 1,100,000 Collections 700,000 How much loss should Hansen have recognized in 2007?(3 3. Pay, Inc., implemented a defined benefit pension plan for its employees on January 2, The following data are provided for 2007, as of December 31, 2007: Projected benefit obligation $103,000 Plan assets at fair value 78,000 Net periodic pension cost 90,000 Employer s contribution 70,000 What amount should Pay record as pension liability at December 31, 2007?(3 4. On December 1, 2007, Clark Co. leased office space for five years at a monthly rental of $60,000. On the same date, Clark paid the lessor the following amounts: First month s rent $60,000 Last month s rent 60,000 Security deposit (refundable at lease expiration) 80,000 Installation of new walls and offices 360,000

2 ( 共 4 頁 第 2 頁 ) What should be Clark s 2007 expense relating to utilization of the office space?(3 5. Ray Corp. declared a 5% stock dividend on its 10,000 issued and outstanding shares of $2 par value common stock, which had a fair value of $5 per share before the stock dividend was declared. This stock dividend was distributed sixty days after the declaration date. By what amount did Ray s current liabilities increase as a result of the stock dividend declaration?(3 6. Silas Company exchanged machinery with an appraised value of $1,755,000, a recorded cost of $2,700,000 and Accumulated Depreciation of $1,350,000 with Rosen Corporation for machinery Rosen owns. The machinery has an appraised value of $1,695,000, a recorded cost of $3,240,000, and Accumulated Depreciation of $1,782,000. Rosen also gave Silas $60,000 in the exchange. Assume depreciation has already been updated. Prepare the entries on Silas companies' books assuming that the exchange lacked commercial substance. (Round all computations to the nearest dollar.) (3 7. Lynne Corporation purchased a limited-life intangible asset for $180,000 on May 1, It has a useful life of 10 years. What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2008? (3 8. On 1/1/08, the stockholders adopted a stock option plan for top executives whereby each might receive rights to purchase up to 10,000 shares of common stock at $30 per share. The par value is $10 per share. Prepare the necessary entries. (3 9. On December 31, 2007, the net assets of Abel Manufacturing amounted to $40,000. Net income calculated by using the financial capital maintenance concept amounted to $12,000. During the year, additional common stock was issued for $8,000, and $5,000 of dividends were paid. What amount are the net assets at January 1, 2007? (3 10. Before year-end adjusting entries, Jane Company's account balances at December 31, 2007, for accounts receivable and the related allowance for uncollectible accounts were $600,000 and $45,000, respectively. An aging of accounts receivable indicated that $62,500 of the December 31 receivables are expected to

3 ( 共 4 頁 第 3 頁 ) be uncollectible. What is the net realizable value of accounts receivable after adjustment? (3 11. Draper Corp. purchased 100 shares of Smart Co. for $8 a share. They purchased 200 shares of Super Inc. for $12 a share. As December 31, Smart Co. is selling for $9 a share and Super Inc. is selling for $13 a share. Smart Co. will be held at lest 3 years and is classified as Available-for-Sale and Super is classified as Trading. Draper had Net Income of $10,000 before reporting the impact of investment transactions. What is Draper Corp. s Net Income after adjusting for Investments? (3 12. During 2007, Fox-Solutions, Inc. developed a new financial accounting software package for sale. The company spent $15,000,000 on the system, 30% of which was incurred prior to technological feasibility being established. The package was put on sale January 1, 2008, and the company estimates that over the 5-year life of the package it will generate $100 million in sales. During 2008, sales amounted to $30 million. (8 Required: 1. Prepare the journal entry to record the development costs incurred in Compute the amortization expense of the capitalized software costs for On January 1, 2005, Cyberspace Company awarded a fixed compensation stock option plan to 40 executives. The plan allows each executive to buy 2,000 shares of the company's $10 par common stock for $25 a share after a four-year service period. The fair value of each option on the grant date is $12. The company expects an executive turnover rate of 4%. In 2006, the rate changed to 2% for the entire service period. On December 31, 2008, 60,000 options vest and the rest are forfeited. On January 5, 2009, 10 executives exercised their options. Cyberspace Company accounts for this plan using the Fair Value Method. (24 Required: a. Prepare the journal entries for 2005 through b. Prepare the journal entry for January 5, 員 工 分 紅 費 用 化 自 97 年 1 月 1 日 起 開 始 實 施, 請 簡 述 公 司 在 會 計 處 理 方 面 的 主 要 變 動 為 何?(5

4 ( 共 4 頁 第 4 頁 ) 15. On January 2, 2007, Parker Co. issued 6% bonds with a face value of $400,000 when the market interest rate was 8%. The bonds are due in ten years, and interest is payable every June 30 and December 31. Parker Co. $50 par value common stock has always traded above par. During 2007, Parker had several transactions that affected the following balance sheet accounts: discounts, premium, payable, Common stock, Additional paid-in capital, Retained earnings. For each of the following items, determine whether the transaction Increased, Decreased, or had No effect for each of the items in the chart. Fill the answer in prescribed number on the answer sheet.(30 discounts premium payable Common stock Additional paid-in capital Retained earnings 1. Parker issued bonds payable 15-1a 15-1b 15-1c 15-1d 15-1e 15-1f with a nominal interest rate that was less than the market rate of interest. 2. Parker issued convertible 15-2a 15-2b 15-2c 15-2d 15-2e 15-2f bonds, which are common stock equivalents, for an amount in excess of the bonds face amount. 3. Parker issued common stock 15-3a 15-3b 15-3c 15-3d 15-3e 15-3f when the convertible bonds described in item 2 were submitted for conversion. Each $1,000 bond was converted into twenty common shares. The book value method was used for the early conversion. 4. Parker issued bonds, with 15-4a 15-4b 15-4c 15-4d 15-4e 15-4f attachable stock warrant, for an amount equal to the face amount of the bonds. The stock warrants have a determinable value. 5. Parker redeemed a bond issued at 8% at a discount for an amount that was 102% of face value. 15-5a 15-5b 15-5c 15-5d 15-5e 15-5f

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