2008春季会计学期中试卷.docVIP

中山大学岭南学院2007学年第2学期《会计学》期中试题 班级：2007级岭院双语班 2007级逸仙班 时间：4th,May,2008 专业：　　 　 学号：　　 姓名： 《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。” Time: 2.5 hours (19:00-21:30) Instructions: The whole test includes six questions. Full points is 60.Each question is independent. The answers should be written clearly on the answer sheets. Question 1: Accounting Mechanics (12 points) Ryan Hope,controller of Hope,Inc., provides you with the following information concerning Hope during 2006.(Hope, Inc., began operations on January 1,2006) Issued 1,000 shares of common stock at $95 per share. Paid $2,600 per month to rent office and warehouse space. The rent was paid on the last day of each month. Made total sales for services of $190,000: $65,000 for cash and $125,000 on account. Purchased land for $32,000. Borrowed $75,000 on December 31. The note payable matures in two years. Salaries totaling $80,000 were paid during the year. Other expenses totaling $40,000 were paid during the year. $56,000 was received from customers as payment on account. Declared and paid a dividend of $26,000. Required: Prepare journal entries for these transactions. Establish T-accounts for each account, and post the jornal entries to these T-accounts. Prepare an Income Statement , Balance Sheet and Statement of Cash Flow for 2006. Question 2. Financial Ratio Analysis(10 points) Buchanan Company has the following financial data on December 31, 2005 and 2004: 12/31/04 12/31/05 Cash $14,000 $19,000 Accounts receivable 12,000 4,000 Inventory 15,000 12,000 Net plant and equipment 5,000 3,000 Current liabilities 8,000 18,000 Common stock 5,000 5,000 Retained earnings 31,000 2,000 Buchanan s 2005 income statement reported: Revenue $160,000 Cost of goods sold 150,000 Gross margin $ 10,000 Depreciation expense 2,000 Net income $ 8,000 Buchanan s 2005 data from its statement of cash flows: Cash flow from operations $ 42,000 Cash flow from investing activities