初會期末考解答 (一_)
第一題 課本P16-7A
第二題 課本P16-5A
第三題 課本 P19-7B
第四題
General Journal
Date Accounts and Explanations Post.Ref. Debit Credit
19X1
Dec. 31 Long-Term Investment in Bonds 387,578
Cash 387,578
To purchase bond investment.
19X2
June 30 Cash 19,000
Long-Term Investment in Bonds 379
Interest Revenue 19,379
To receive semiannual interest revenue and amortize discounton investment.
Dec. 31 Cash 19,000
Long-Term Investment in Bonds 398
Interest Revenue 19,398
To receive semiannual interest revenue and amortize discounton investment.
Amortized table :
A B C D E
Semiannualinterestdate Interest receip(0.0475 of maturity value) Interest revenue(0.05 of preceding investment carryingamount Discount amortization (B-A) Discountbalance (preceding D-C) Investment Carrying Amount($400,000-D)
12-31-X1 $ 12,422 $ 387,578
6-30-X2 $19,000 $19,379 $ 379 12,043 387,957
12-31-X2 19,000 19,398 398 11,645 388,355
Note : At June 30 and December 31, 19X2, the investor can make separate entries for the accrual of cash interest and for the amortization of discount on the investment.
第五題
Req.1
General Journal
Date Accounts and Explanations Post. Ref. Debit Credit
Mar. 3 Long-term Available-for sale Investment(5,000*$9.25) 46,250
Cash 46,250
Purchased investment.
4 Long-term Equity-Method Investment 408,000
Cash 408,000
Purchased equity-method investment.
May 14 Cash(5,000*$8.2) 4,100
Dividend Revenue 4,100
Received cash dividend.
June 15 Cash 27,000
Long-term Equity-Method Investment 27,000
Received cash dividends on equity-method investment.
Oct. 24 Long-term Available-for-Sale Investment 226,000
Cash 226,000
Purchased investment.
Dec. 15 Cash 29,000
Long-term Equity-Method Investment 29,000
Received cash dividends on equity-method investment.
31 Long-term Available-for-Sale Investment($620,000*0.3) 186,000
Equity-Method Investment Revenue 186,000
To record investment revenue.
31 Unrealized Loss on Available-for-Sale Investment 5,150
Market Adjustment-Long-Term Available-for-Sale Investments ($272,250-$267,100)※ 5,150
Adjusted investment to market value.
※Stock Cost Market Value
BCM $ 46,250 $ 48,100
Northern 226,000 219,000
$272,250 $ 267,100
Req.2
Long-Term Equity-Method Investments
Jan. 1 Balance 657,000 June. 15 Dividends 27,000
Mar.4 Purchase 408,000 Dec.15 Dividends 29,000
Dec.31 Net income 186,000
Dec.31 Balance 1,195,000
Long-Term Available-for-Sale Investments
Mar.3 Purchase 657,000
Oct. 24 Purchase 186,000
Dec.31 Balance 1,195,000
Market Adjustment-Long-Term Available-for-Sale Investments
Dec. 31 Adjustment 5,150
Req.3
Total currant assets $ XXX
Long-term available-for-sale investments, at market value($272,250-$5,150) 267,100
Long-term equity-method investments 1,195,000
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