國立政治大學 109 學年度第二學期 初級會計學(二) 第一次小考試題 答案卷

NATIONAL CHENGCHI UNIVERSITY EXAMINATION FORM

110.04.12
考試時間 系級 學號 姓名
12:10-13:00
請用原子筆作答，違者0分。沒有金錢符號、進位符號、分錄位置擺錯等等都要扣1分。
第一部分：選擇題(每題2分，共20分) 注意:答案需填於空格內，否則不予計分。
1 2 3 4 5 6 7 8 9 10

C B D B B B B C D A

第二部分：問答與計算題(共三題，共 80 分)
若無計算過程將不予以計分，並且請將答案標明清楚。
一、(12%) Answer the following questions.
1. Find the present value (rounded to the nearest dollar) of $80,000 due in 4 years at 6% compounded
annually.
2. Compute the future value (rounded to the nearest dollar) of $30,800 invested to earn interest at 4%
compounded semiannually for 6½ years.
3. What is the present value (rounded to the nearest dollar) of an annuity of $80,000 per year for five years
if the interest rate is 8% compounded annually.
4. Howard Company has just borrowed $250,000. The loan is to be repaid in regular annual payments made
at the end of each year. What is the amount of each annual payment under the following sets of terms:
interest rate of 8% compounded annually; repayment in four annual payments

ANS:
1. $80,000 × 0.7921 = $63,368 (6% for 4 periods)
2. $30,800 × 1.2936 = $39,843 (2% for 13 periods)
3. $80,000 × 3.9927 = $319,416 (8% for 5 payments)
4. $250,000 = Payment [PVANN Factor: n = 4, i = 8%]
$250,000 = Payment [3.3121]
Payment = $250,000/3.3121
Payment = $75,48

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二、(36%)Prepare all journal entries relating to the two notes for 2017, 2018, 2019, and 2020. Assume that Sweet’s
Candy Company uses the calendar year for financial reporting. (Round all amounts to the nearest dollar.)

ANS:
2017
Jan.1 Cash ....................................................................................... 10,000
Note Payable .................................................................... 10,000
Borrowed $10,000 from Peterson Bank, issuing
a 2-year, 10% note.

Dec. 31 Interest Expense..................................................................... 1,000

Interest Payable ............................................................... 1,000
To recognize interest expense on 2-year note of
$1,000 ($10,000  0.10) and on 3-year note of $605
($5,500  0.11).
2018
Jan.1 Interest Payable ..................................................................... 1,000
Cash ................................................................................. 1,000
To record payment of interest on notes payable.

Dec. 31 Interest Expense..................................................................... 1,000

Interest Payable ............................................................... 1,000
To recognize interest expense on 2-year note of
$1,000 ($10,000  0.10) and on 3-year note of $605
($5,500  0.11).

2019
Jan.1 Interest Payable ..................................................................... 1,000
Cash ................................................................................. 1,000
To record payment of interest on notes payable.

1 Note Payable .......................................................................... 10,000

Cash ................................................................................. 10,000
To record payment of 2-year note from Peterson
Bank.

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 三、(20%)

Assume that Korea Fish Company exchanged one used truck plus cash of NT$50,000 for another type of truck.
The carrying amount of the old truck is NT$300,000 (cost of NT$800,000 less accumulated depreciation of
NT$500,000), and a fair value of NT$350,000. Suppose the exchange has commercial substance. Help Korea
Fish Company to record the exchange entry.

ANS.

Truck (New) (NT$50,000 + NT$350,000) 400,000

Accumulated Depreciation, Truck (Old) 500,000

Truck (Old) 800,000

Gain on Disposal of Truck (NT$350,000-NT$300,000) 50,000

Cash 50,000

To record exchange of used machine for a new machine

四、（12%）On March 1, 2017, Lloyd Corporation sold $400,000 of 12 percent, 5-year bonds at a yield of 10
percent compounded semiannually. Interest is payable on March 1 and September 1 of each year. Determine
the issue price of the bonds. Show your computations. (請列式求債券發行價格，現值因子請四捨五入至
小數點後第四位。)
Amount of semi-annual interest payment: $400,000 x 0.12  2 = $24,000
Present value of interest payments: $24,000 x 7.7217 = $185,321
Present value of principal amount: $400,000 x 0.6139 = $245,560
Issuance price of bond: $430,881
Using a calculator results in $430,887

測驗結束，大家辛苦了

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