國立成功大學九十七學年度第二學期
統二、企一初級會計學期中考試題
(一)簡答題(20%)
1. Please explain the basic concepts for revenue recognition principle and
matching principle, and compare the differences between them.
2. What is the depreciation？Is it a cost allocation process or an asset valuation
mean？Please explain its appropriate meaning.
3. Please illustrate the meanings of the following items:
(1)conservatism
(2)internal control
(3)free on board (FOB) (4)cash equivalent
4. Compare the differences between the following items:
(1) NSF vs. outstanding checks
(2)allowance method vs. direct write-off method
(二)配合題(10%)
Six internal control principles related to cash transactions are discussed in the textbook.
These principles, with code letters, are:
Code
A
B
C
D
E
F
Internal Control Principle
Documentation procedures
Establishment of responsibility
Independent internal verification
Physical, mechanical, and electronic controls
Segregation of duties
Other controls
Instructions: Match the above principles to the following applications related to cash
receipts and cash disbursements by placing the code in the space provided. Each code
letter can be used once, more than once, or not at all.
____ 1. Cash is received by one employee and recorded in the accounting records by
another.
____ 2. Daily cash counts should be made by cashier department supervisors.
____ 3. Payments are approved by one employee while the disbursement is made by
another.
____ 4. All checks are pre-numbered.
____ 5. Only the treasurer is authorized to sign checks.
____ 6. Cash register tapes are used for over-the-counter receipts.
____ 7. Each check is compared with an approved invoice before being issued.
____ 8. Employee hours are tracked using a time clock.
____ 9. All personnel who handle cash should be bonded.
____ 10. Inventory is stored in a locked warehouse with restricted access.
1
(三)配合題(10%)
Match the items below by entering the appropriate code letter in the space provided.
A.
B.
C.
D.
E.
___ 1.
___ 2.
___ 3.
___ 4.
___ 5.
___ 6.
___ 7.
___ 8.
___ 9.
___ 10.
Time period assumption
Fiscal year
Revenue recognition principle
Prepaid expenses
Matching principle
F.
G.
H.
I.
J.
Accrued revenues
Depreciation
Accumulated depreciation
Accrued expenses
Book value
A twelve month accounting period
Expenses paid before they are incurred
Cost less accumulated depreciation
Divides the economic life of a business into artificial time periods
Efforts are related to accomplishments
A contra asset account
Recognition of revenue when it is recorded when earned
Revenues earned but not yet received
Expenses incurred but not yet paid
A cost allocation process
(四)計算編表題(20%)
Unruh Company received a bank statement for the month of October 2008, which
showed a balance per bank of $3,600. The company's Cash account in the general
ledger showed a balance of $1,204 at October 31. Other information that may be
relevant in preparing a bank reconciliation for October follows:
1. The bank returned an NSF check from a customer for $480.
2. The company recorded cash receipts of $340 on October 31 but this amount does
not appear on the bank statement.
3. A check correctly written by Unruh and paid by the bank for $1,740 was incorrectly
recorded in the cash payments journal for $1,470. The check was a payment on
account.
4. Checks which were written in September but still had not been presented to the bank
for payment at October 31 amounted to $780.
5. The bank included a credit memorandum for $1,526, which represents a collection
of a customer's note by the bank for the company; principal amount of the note was
$1,400 and the remainder was interest.
6. The bank included a $20 debit memorandum for service charges for the month of
October.
7. Checks written in October which have not been paid by the bank at October 31
amounted to $1,200.
Instructions
1. Prepare a bank reconciliation for Unruh Company for October which reconciles the
balance per books and the balance per bank to their adjusted correct balances.
2. Prepare the necessary adjusting entries for Unruh Company at October 31, 2008.
2
(五)觀念分錄題(10%)
An inexperienced accountant for Elston Company made the following incorrect entries.
1. Notes Receivable .......................................................................
21,600
Accounts Receivable .........................................................
20,000
Interest Revenue................................................................
1,600
Facts: Accepted a $20,000, 1 year, 8% note from Joe Wood Company for balance
due.
2. Accounts Receivable .................................................................
25,000
Sales ..................................................................................
Facts: Accepted Visa credit card for $25,000; the service fee is 2%.
25,000
3. Allowance for Doubtful Accounts ............................................
12,300
Notes Receivable ..............................................................
12,000
Interest Revenue................................................................
300
Facts: M. Adler dishonored a $12,000, 10%, 3-month note because of bankruptcy.
Adler is expected to pay. No interest had been accrued on the note.
Instructions
Prepare entries to correct Elston Company's books based on the facts given. Do not
reverse out incorrect entries that were recorded above, but rather correct the account
balances so that they reflect the proper amounts.
(六)觀念計算題(15%)
The following information is available for Queen Company, which has an accounting
year end on December 31, 2008.
1. A delivery truck was purchased on June 1, 2006, for $80,000. It was estimated to
have an $8,000 salvage value after being driven 120,000 miles. During 2008, the
truck was driven 20,000 miles. The units-of-activity method of depreciation used.
2. A building was purchased on January 1, 1981, for $3,000,000. It is estimated to
have a $30,000 salvage value at the end of its 40-year useful life. The
straight-line method of depreciation is being used.
3. Store equipment was purchased on January 1, 2007, for $180,000. It was
estimated that the store equipment would have an $18,000 salvage value at the end
of its 5 year useful life. The double-declining balance method of depreciation is
being used.
Instructions：Complete the table shown below by filling in the appropriate amounts.
Assets
Accumulated
Depreciation
1/1/08
Depreciation
Expense for
2008
Delivery truck
$ 31,200
$
$
Building
$2,004,750
$
$
Store equipment
$
$
$
72,000
3
Book Value at
12/31/08
(七)觀念分錄題(15%)
Kiley Company had a $700 credit balance in Allowance for Doubtful Accounts at
December 31, 2008, before the current year's provision for uncollectible accounts. An
aging of the accounts receivable revealed the following:
Estimated Percentage
Uncollectible
Current Accounts
$120,000
1%
1–30 days past due
12,000
3%
31–60 days past due
10,000
6%
61–90 days past due
5,000
12%
Over 90 days past due
8,000
30%
Total Accounts Receivable
$155,000
Instructions
(a) Prepare the adjusting entry on December 31, 2008 to recognize bad debts expense.
(b) Assume the same facts as above except that the Allowance for Doubtful Accounts
account had a $500 debit balance before the current year's provision for
uncollectible accounts. Prepare the adjusting entry for the current year's provision
for uncollectible accounts.
(c) Assume that the company has a policy of providing for bad debts at the rate of 1%
of sales, that sales for 2008 were $550,000, and that Allowance for Doubtful
Accounts had a $650 credit balance before adjustment. Prepare the adjusting entry
for the current year's provision for bad debts.
(八)觀念計算題(10%)
Equipment was acquired on January 1, 2005, at a cost of $80,000. The equipment was
originally estimated to have a salvage value of $5,000 and an estimated life of 10 years.
Depreciation has been recorded through December 31, 2008, using the straight-line
method. On January 1, 2009, the estimated salvage value was revised to $6,000 and the
useful life was revised to a total of 8 years.
Instructions：Determine the Depreciation Expense for 2009.
(九)配合題(10%)
Indicate whether each of the following expenditures should be classified as land (L),
land improvements (LI), buildings (B), equipment (E), or none of these (X).
_____ 1. Parking lots
_____ 2. Electricity used by a machine
_____ 3. Excavation costs
_____ 4. Interest on building construction loan
_____ 5. Cost of trial runs for machinery
_____ 6. Drainage costs
_____ 7. Cost to install a machine
_____ 8. Fences
_____ 9. Unpaid (past) property taxes assumed
_____10. Cost of tearing down a building when land and a building on it are purchased
4
Solution
(一)問答題(20%) 請見講義
(二)配合題(10%)
1.
2.
3.
4.
5.
E
C
E
A
B
6.
7.
8.
9.
10.
A
C
D
F
D
(三)配合題(10%)
1.
B
6.
H
2.
3.
4.
5.
D
J
A
E
7.
8.
9.
10.
C
F
I
G
(四)計算編表題(20%)
1.
UNRUH COMPANY
Bank Reconciliation
October 31, 2008
Cash balance per bank statement ............................................................
Add: Deposit in transit ...........................................................................
Less: Outstanding checks—September ..................................................
Outstanding checks—October ......................................................
Adjusted cash balance per bank ..............................................................
$3,600
340
3,940
$
780
1,200
Cash balance per books ...........................................................................
Add: Collection of note receivable and interest ....................................
Less: NSF check .....................................................................................
Bank service charge ......................................................................
Error in recording a check ............................................................
Adjusted cash balance per books ............................................................
2.
$1,204
1,526
2,730
480
20
270
Cash ...............................................................................................
Notes Receivable ...................................................................
Interest Revenue ....................................................................
1,526
Accounts Receivable ......................................................................
Cash .......................................................................................
480
5
1,980
$1,960
770
$1,960
1,400
126
480
Miscellaneous Expense ..................................................................
Cash .......................................................................................
20
Accounts Payable ...........................................................................
Cash .......................................................................................
270
20
270
(五)觀念分錄題(10%)
1. Interest Revenue ................................................................................
Notes Receivable ......................................................................
1,600
2. Cash ...................................................................................................
Service Charge Expense ....................................................................
Accounts Receivable ................................................................
24,500
500
3. Accounts Receivable—M. Adler.......................................................
Allowance for Doubtful Accounts............................................
12,300
1,600
25,000
12,300
(六)觀念計算題(15%)
Accumulated
Depreciation
Depreciation
Expense for
Assets
1/1/08
2008
Delivery truck
$
Building
Store equipment
31,200
Book Value at
12/31/08
$12,000
$ 36,800
$2,004,750
$74,250
$921,000
$
$43,200
$ 64,800
72,000
(七)觀念分錄題(15%)
(a) Bad Debts Expense ..........................................................................
Allowance for Doubtful Accounts ($5,160 – $700) ..............
4,460
4,460
(To adjust the allowance account to total estimated uncollectible)
(b) Bad Debts Expense ..........................................................................
5,660
Allowance for Doubtful Accounts ($5,160 + $500) ..............
(To adjust the allowance account to total estimated uncollectible)
(c) Bad Debts Expense ($550,000 × 1%) ..............................................
Allowance for Doubtful Accounts.........................................
6
5,660
5,500
5,500
(To record estimated bad debts for year)
(八)觀念計算題(10%)
Calculate the book value at the time of the revision:
$80,000 – $5,000
———————— = $7,500 annual depreciation expense
10 years
4 years have been depreciated:
$7,500 × 4 = $30,000
Book value at the time of the revision:
$80,000 – $30,000 = $50,000
Calculate the revised annual depreciation:
$50,000 – $6,000
————————
4 years remaining
= $11,000 revised annual depreciation
The Depreciation Expense for 2009 is $11,000.
(九)配合題(10%)
1. LI
2.
3.
4.
5.
X
B
B
E
6. L
7.
8.
9.
10.
E
LI
L
L
7