2008年会计学真题.pdf

对外经济贸易大学2008年硕士学位研究生入学考试初试试题考试科目：831会计综合请将答案写在答题纸上，并注明题号时间：3小时提示：本张试卷分为两部分：英文试题和中文试题。满分150分。第一部分：英文试题（共70分）1.Give a brief explanation for the following terms(9 points)(1)Residual salvage(2)Price-earnings(p/e)ratio(3)Stock split(4)Accrue basis(5)Quick ratio(6)Accelerated depreciation method2.True and false(8 points)For each of the following statements,write the T or the F to indicate whether thestatement is True or False.(1)Liabilities appearing in balance sheet all arose from past transactions or events.(2)The primary role of external auditors is to report on the clients financial statementto its shareholders.(3)A balance sheet reports financial performance for specific time period such as onemonth or one year.(4)An adjusting entry to recognize wages payable at year-end causes a decrease intotal assets and increase total liabilities.(5)The return on assets ignores how the assets of business have been financed.Thereturn on equity,in contrast,takes financing cost,and also income taxes intoconsideration.(6)When par value capital stock is issued,Capital Stock is credited with the par valueof the shares issued,regardless of whether the issuance price is equal to par,morethan par,or less than par.(7)The sales of treasury stock at a price in excess of its cost results in a realized gainwhich should be presented as non-operating item in the income statement.(8)The statement of retain earnings shows revenue,expenses,and dividends for theaccounting period.3.Multiple choice questions(please choose the best one for each of the followingquestions(13 points)(1)On December 15,2006,ABC Company reacquired 2000 shares of its own$10par stock at a price of$50 per share.In 2007,500 shares of the treasury shares arereissued at a price of$60 per share.The correct one of the following statements is:A.ABC Company recognized a gain of$10 per share on the re-issuance of the 500treasury stock in 2006;B.ABC stockholdersequity was in creased by$110000 when the treasury stockwas acquired;C.The two treasury stock transactions result in an overall reduction in ABCsstockholdersequity of$85000;D.The treasury purchased was recorded at cost and was shown in ABC CompanysDecember 31,2007,Balance Sheet as an asset.E.None of the above.(2)Which of the following transaction would cause a companys net income toincrease?A.Issue of 10000 bonds payable at premium;B.Disposal of an item of equipment for$10500,which originally cost 22000 andhas a net book value of$11200;C.Receipt of$2300 from a credit customer,previously written off as bad debt;D.Reacquired the companys own common stock at a price over par;E.None of the above.(3)After the income statement had been prepared,the chief accountants found thataccrued expenses of$4150 had been omitted from one of the expenses accounts,andthat ending inventory had been overstated by$2500.Which of the followingstatements is correct?A.Income is overstated by$1650;B.The cost of sales will be understated next year;C.Income is overstated by$6650;D.Income is understated by$1650;E.None of the above.(4)Extracts from a companys income statements are given below:ItemsAmountsSales revenue$150000Cash discount1500Inventory January 1,2007)17500Purchases102000Inventory December 31,2007)19500The average days of inventory is(the nearest day):A.47days;B.68 days;C.71 days;D.45 days.(5)Which of the following entries causes an immediate decrease both in assets andin stockholdersequity?A.The entry to record revenue earned but not yet received;B.The entry to record depreciation expenses;C.The entry to record the earned portion of rent received in advance;D.The entry to record revenue and accrued wages payable.(6)At December 31,2007,W companys allowance for bad debt was$49000 andthe accounts receivable totaled$527000 before year-end adjustment.W companydecided to write off bad debts totaling$47000 and to adjust the allowance foraccounts receivables to 5%of the balance of the accounts receivables.The correctfigure should appear in the income statement for expenses of bad debt is:A.$15000;B.$24000;C.$22000,D.$25000;E.None of these.(7)After bonds have been issued,their market value can be expected to:A.Rise as any discount is amortized;B.Fall if market interest rate rise;C.Fall if market interest rate decrease;D.Rise if the issue company reports an increase of profit;E.None of the above.(8)SA Company has net assets of$1500000 and paid-in capital of$450000.Theonly stock issue consists of 75000 outstanding shares of common stock.From thisinformation,it can be deduced that the company has:A.Retained earnings of$1500000;B.Additional paid-in capital of$1050000;C.A book value of$20 per share of common stock;D.A book value of$6 per share of common stock.(9)As a result of a 5%stock dividend:A.Total stockholdersequity decrease by 5%;B.The par value per share decrease by 5%;C.The number of shares owned by each stockholder increase by 5%,but totalstockholdersequity does not change;D.Both the number of shares outstanding and the total stockholdersequity increasey5%(10)Dividend yield on common stocks owned by an investor is computed by:A.Dividing annual dividend per share by the investors average cost per share;B.Dividing annual dividend per share by current market price per share;C.Dividing annual dividend per share by the investors average cost per share or thecurrent market price per share,whichever is lower;D.Dividing annual dividend per share by the price-earning ratio.(11)Which of the following actions by management will increase the qualityofearnings,even though the total amount of earnings may decline?A.Change from the FIFO to LIFO method of inventory valuation during a period ofrising prices;B.Lengthening the estimated useful lives of depreciable assets;C.Estimating the allowance for bad debt at a smaller amount than in prior period;D.Replacing a long-term assets by credit;E.None of the above.(12)The common practice of charging low-cost items such as wastebaskets andpencil sharpeners directly to expense is an application of the:A.Matching principle and historical principle;for the amount of revenue recognized to be less than the selling price of the goodsand services sold.One obvious situation is the sales merchandise at a discount-at an amount less than its normal selling price.6.Long-term liabilities(6 points)On December 31,2006,XY Company issued$2000000 face amount of 8%,10-year bondspayable,with interest payable each June 30 and December 31.The bonds sell at price of 102.XYuses the straight-line method of amortizing any discount or premium.Required:(1)To make the journal entry for XY company to record the first payment of interest and interestexpenses at June 30,2007:(2)To compute the carrying value of the bonds payable at balance sheet of XY,on December 31,2007.7.Statement of cash flows(13 points)The data below are taken from the financial statements of the Marlow Company:Accounts12/31/200712/312006Accounts receivable$670000$575000Inventory980000818000Prepaid expenses4500070000Accounts payable750000680000Accrued expenses payable360000408000Items of Income statementNet income$900000Depreciation expenses270000Amortization expenses of patent90000Amortization of discount on bonds payable12000Gain on sales of equipment180000Required:Using only the above information,prepare the section of Cash flows fromoperating activities on the Statement of Cash Flows of 2007 for Marlow Companyby indirect method(list each component of cash flows from operating activities).6