Intermediat Acc. - 1st exam Download

Transcript
‫جامعــــة فيــالدلفيـــا‬
‫قسم المحاسبة‬
‫‪PhiladelphiaUniversity‬‬
‫‪Department of Accounting‬‬
‫نموذج رقم‬
‫ورقة االمتحــان‬
‫‪Examination sheet‬‬
‫‪Form :‬‬
‫القسم األول ‪:‬‬
‫أ‪ -‬معلومات‬
‫‪PART 1 :‬‬
‫‪A : Information‬‬
‫الرقم الجامعي للطالب ‪:‬‬
‫اسم الطالب ‪:‬‬
‫‪Student No:‬‬
‫المسائية‬
‫‪Student Name :‬‬
‫الصباحية‬
‫الفترة ‪:‬‬
‫الفصل الدراسي ‪:‬الصيفي‬
‫السنة الدراسية ‪3101\3102‬‬
‫‪first exam‬‬
‫‪Academic year :‬‬
‫اسم مدرس المادة‪Dr.Abdul Aziz Abdul Rahman:‬‬
‫اسم المادة ‪ Intermediate Accounting :‬رقم المادة‪:‬‬
‫اليوم ‪:‬الثالثاء‬
‫التاريخ ‪3101-7-01 :‬‬
‫المنسق الداخلي‪:‬‬
‫ب‪ -‬إرشادات‬
‫ االمتحان يتكون من فئتين من األسئلة ومجموع العالمات ( ‪)31‬‬‫العالمة مكتوبة إزاء كل سؤال‪.‬‬‫ يجب كتابة اإلجابة بوضوح وتحديد رقم السؤال المتعلق باإلجابة‪.‬‬‫ يمنع منعا ً باتا ً االلتفات‪ /‬أو الكالم ‪./‬‬‫أو الغش خالل االمتحان تحتطائلة العقاب‬
‫جـ ‪ -‬مالحظات الطالب حول األسئلة ( إذا وجد )‬
‫الوقت ‪00.31 – 01.31‬‬
‫الممتحن الداخلي‬
‫‪B -Guidelines‬‬
‫) ‪-The exam consist of two categories and the total mark is( 20‬‬
‫‪- Each question has its own mark beside it.‬‬
‫‪-The answer must be written clearly and writ the‬‬
‫‪question number relevant to the answer.‬‬
‫‪- Student must not talk or cheat during the exam or‬‬
‫‪He / She will be subject to penalty‬‬
‫) ‪C- student Comments about the Questions ( If any‬‬
‫‪.0‬‬
‫‪1.‬‬
‫‪.3‬‬
‫‪2.‬‬
‫القسم الثاني ‪ :‬األسئلة‬
‫‪1‬‬
‫‪PART II‬‬
Q1: choose the right answer for the following:
1.
(10 Marks)
Use the following information (in thousands):
Revenues
¥1,200,000
Income from continuing operations150,000
Net Income
135,000
Income from operations
330,000
Selling & administrative expenses750,000
Income before income tax
300,000
a.
Determine the amount of financing costs.
¥30,000
b.
¥15,000
c.
¥150,000
d.
¥120,000
2 .What is a purpose of having a conceptual framework?
a. To enable the profession to more quickly solve emerging practical problems.
b. To provide a foundation from which to build more useful standards.
c. Neither a nor b.
d. Both a and b.
3. In the conceptual framework for financial reporting, what provides "the why"--the
goals and purposes of accounting?
a. Measurement and recognition concepts such as assumptions, principles, and
constraints
b. Qualitative characteristics of accounting information
c. Elements of financial statements
d. Objective of financial reporting
4 .Which of the following is an ingredient of relevance?
a. Completeness.
b. Representational faithfulness.
c. Neutrality.
d. Predictive value
5 .The quality of information that gives assurance that it is reasonably free of error and
bias
a. relevance.
b. faithful representation.
c. verifiability.
d. neutrality.
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6 .The second level of the International Accounting Standards Board’s (IASB’s)
Conceptual Framework
a. provides conceptual building blocks that explain the qualitative characteristics
of accounting information.
b. defines the elements of financial statements.
c. serves as a bridge between the “why” of accounting and the “how” of
accounting.
d. all of the choices are correct.
7 .What is the general approach as to when product costs are recognized as expenses?
a. In the period when the expenses are paid.
b. In the period when the expenses are incurred.
c. In the period when the vendor invoice is received.
d. In the period when the related revenue is recognized
8 .Which of the following is not a time when revenue may be recognized?
a. At time of sale
b. At receipt of cash
c. During production
d. All of these are possible times of revenue recognition.
9 .Benedict Corporation reports the following information:
Net income
$500,000
Dividends on ordinary shares
140,000
Dividends on preference shares
60,000
Weighted average ordinary shares outstanding 100,000
a.
Benedict should report earnings per share of
$3.00.
b.
$3.60.
c.
$4.40.
d.
$5.00.
10.1. Which of the following is a constraint in presenting financial information?
a. Materiality.
b. Full disclosure.
c. Relevance.
d. Consistency.
Q2:
(2 marks)
3
Majors Corporation had income from continuing operations of $1,600,000 in 2011.
During 2011 it disposed of its repair division at a pre-tax gain of $90,000. Prior to
disposal, the division operated at a pre-tax loss of $45,000. The tax rate was 30%.
Compute the net income?
Q3:
( 8 Marks)
Presented below is information (in thousands) related to Chen Company.
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Retained earnings, December 31, 2010
¥ 650,000
Sales
1,400,000
Selling and administrative expenses
240,000
Loss on disposal of component (pre-tax)
290,000
Cash dividends declared on common stock
33,600
Cost of goods sold
780,000
Gain resulting from computation error on depreciation charge in 2009 (pre-tax) 520,000
Rent revenue
120,000
Impairment loss
90,000
Interest expense
10,000
Instructions
Prepare in good form an income statement for the year 2011. Assume a 30% tax rate and that
there were 80,000 ordinary shares outstanding during the year.
Good luck
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