07会计期末试卷

•[写在前面~^_^]
•1、这份是岭院学生会学术部为大家整理的2007-2008学年第2学期2007级岭院班和逸仙班会计学期末考试卷，希望能够给大家的会计学习提供一些参考和帮助。

•2、由于录入者水平有限，可能难免会在录入过程中存在一些错误，在此先为给大家带来参阅的困难表示歉意。

有任何意见或建议欢迎联系学生会学术部任何一位成员。

•3、最后，希望大家享受会计的学习过程0(*_#)0
2007-2008学年第2学期2007级岭院班和逸仙班会计学期末考试卷
班级：专业：学号：姓名：
警示《中山大学授予学士学位工作细则》第六条：“考试作弊不授予学士学位。

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Time:2 hours
Instructions: The whole test includes five questions. Each question is independent. Total points is 60.The answers should be written clearly on the answer sheets.
Question 1:(15 points)
For each event in (a)-(e):
(1)Record the transaction using journal entries. Be specific about account names.
(2)Indicate the effect of each transaction (i.e., increase, decrease, or no effect) on the current ratio is 1. Similarly, when determining the effect of the transaction on Return on Equity, assume that prior to the transaction the ratio is 0.10.
(3)Ignore the taxes.
(4)Assume the firm uses the allowance method to account for doubtful accounts and straight-line
Question 2: (10 points)
Lusiano company invested two equity securities on January 1, year 1.They were treated as long
Required:
(a)Which method should be used to account for these two long term security investment?(2
points)
(b)Prepare the related journal entries for year 1 and year 2.(8 points)
Question 3 : (12 points)
On January 1, 2005, Mason Corporation issued 2-year bonds with a $40,000 face amount and a 8% annual coupon rate. The interest is paid on December 31 annually. The bonds were issued at $38612 when the effective interest rate was 10%. Mason Corporation paid the principal to the creditor on January 1, 2007.
(1)Complete the amortization table for the bonds using the effective interest method. Round all
amounts to the nearest dollar.(4 points)
(2)Prepare the related journal entries for each of the above dates. (8 points)
Question 4 : (13 points)
Lemmon Company provided the following information for the year ending December 31, 2005: Cost of goods sold $400,000
Gain on sale of business segment 20,000
Income tax rate 30%
Interest income 5,000
Interest expense 7,000
Loss from operation of discontinued business segment 12,000
Operating expenses 23,000
Revenue from sales 730,000
Number of shares of common stock outstanding 100,000
Prepare an income statement in good form. You may omit the heading. Include all earnings per share amounts required for the year ending December 31, 2005.
Question 5: (10 points)
Amulek Corporation had the following operating account balances for 2006:
December 31 January 1
Accounts payable $100,800 $87,300
Inventory 36,900 55,800
Accounts Receivable 126,000 99,900
Amulek’s 2006 net income was $675,000. Depreciation expense for the year was $139,500. Also, in2006 Amulek reported a $25,500 gain on the sale of land as part of the $675,000 net income. Requird:
Assuming no other accounts affected cash flow from operations during the year, what amount should Amulek include as net cash provided by operating activities in its 2006 statements of cash flow?。