I. Single-choice questions (This category of questions ***15 small questions, 1 point per small question, ***15 points. Each sub-question alternative answer, there is only one correct answer that meets the meaning of the question. Please fill in the selected answer, according to the requirements of the answer card, with a 2B pencil to fill in the answer card question number 1 to 15 information points. (Multiple choices, wrong choices, and no choices are not scored)
1. The following foreign currency assets incurred in the exchange differences should not be recognized in the current period of profit or loss ( ).
A.Accounts receivable B.Trading amount assets
C.Held-to-maturity investments D.Available for investment in equity instruments
Answer D
2.The following statements about accounting estimates and changes in them are correct ( ).
A. Accounting estimates should be based on the most recently available information or data
B. Accounting estimates for transactions or events with uncertain results will weaken the reliability of accounting information
C. Changes in accounting estimates should be dealt with by the method of retrospective restatement or retrospective adjustment, depending on the circumstances
D. Where it is difficult to differentiate between a certain change as a change in accounting policy and a D. If a change is difficult to distinguish between a change in accounting policy and a change in accounting estimate, it should be treated as a change in accounting policy
Answer A
3. At December 31, 2010, Company A recognized an estimated liability of RMB 8 million for a pending lawsuit. on March 6, 2011, the court ruled that Company A should compensate Company B for RMB 6 million for the lawsuit; Company A and Company B will not appeal the ruling. Company A has an income tax rate of 25% and a statutory surplus reserve of 10% of net income. The approved reporting date for the 2010 annual financial report is March 31, 2011, and Company A expects to be able to obtain sufficient taxable income to offset the deductible temporary differences in future periods. Without taking into account other factors, this matter led to the Company A December 31, 2010 balance sheet "undistributed profits" item "closing balance" adjustment increase amount of ( ) million.
A.135 B.150
C.180 D.200
Answer A
4. April 1, 2011, the A utility using finance leases to rent a management equipment and put into use. The lease contract stipulates that the lease period of the equipment for five years, April 1 each year to pay the annual rent of 1 million yuan, after the expiration of the lease period of the A utility can be 10,000 yuan at a discounted price to buy the equipment. On that day, Utility A paid the first installment of rent. The recorded value of the equipment leased by the A utility financing is ( ) million yuan.
A.100 B.101
C.500 D.501
Answer D
5. If the subsequent measurement of investment property is converted from the cost model to the fair value model, the difference between the fair value of the investment property at the date of conversion and the book value of the investment property is higher than the book value of the investment property will have an impact on the following financial statement items ( ).
A. Capital surplus B. Non-operating income
C. Undistributed earnings D. Investment income
Answer C
6. On December 31, 2010, Company A constructed a nuclear power plant to reach its intended useable state and put it into operation, and incurred a cumulative total of 210,000,000 yuan of capitalized expenditure. On that date, Company A expects to incur abandonment costs of 100 million yuan for the restoration of the environment at the end of the useful life of the nuclear power plant, the present value of which is 82 million yuan. The recorded value of the nuclear power plant is ( ) million dollars.
A.200,000 B.210,000
C.218,200 D.220,000
Answer C
7. Of the following, the following affects the increase or decrease in the carrying value of long-term equity investments ( ).
A. Long-term equity investments accounted for using the equity method, the investee declared stock dividends during the holding period
B. Long-term equity investments accounted for using the equity method, the investee declared cash dividends during the holding period
C. Long-term equity investments accounted for using the cost method, the investee declared stock dividends during the holding period
D. Long-term equity investments accounted for by the cost method, the investee declares cash dividends during the holding period
Answer B
8. If it is not possible to distinguish between the research stage and the development stage of the research and development activities, research and development expenditures incurred in the current period should be recognized as ( ) at the balance sheet date.
A. Intangible Assets B. Administrative Expenses
C. Research and Development Expenditures D. Non-Operating Expenditures
Answer B
9. On March 2, 2011, Company A exchanged the plant with a book value of 3.5 million yuan and the patent right of 1.5 million yuan for Company B's long-term investment in the building under construction with a book value of 3 million yuan and 1 million yuan, with no premium involved. The fair values of the above assets are not available. Excluding other factors, the recorded value of Company A's exchange for the house under construction is ( ) million dollars.
A.280 B.300
C.350 D.375
Answer D
10. The following statements about the future cash flows expected by a company for the purpose of impairment testing of fixed assets are incorrect ( ).
A. Projected future cash flows include cash flows related to income taxes
B. Projected future cash flows should be based on the current condition of the fixed assets
C. Projected future cash flows do not include cash flows related to financing activities
D. Projected future cash flows do not include cash flows related to the reclothing of fixed assets
Answer A
11.If part of an enterprise's held-to-maturity investments makes the remaining portion no longer suitable for classification as held-to-maturity investments, it should reclassify that remaining portion as ( ).
A. Long-term equity investments B. Payments and receivables
C. Financial assets held for trading D. Available-for-sale financial assets
Answer D
12. For cash-settled share-based payments, if there is a change in the fair value of the relevant responsible after the feasible date, the amount of the change should be included in the financial statements as at the date of the statement of assets and liabilities ( ).
A. Capital surplus B. Administrative expenses
C. Non-operating expenses D. Gain on change in fair value
Answer D
13. February 1, 2010, Company A for the construction of a factory building to the bank to obtain a special borrowing. on March 5, 2010, the borrowing to pay for the pre-ordered engineering materials. Due to the dispute over land acquisition and relocation, the construction of the building was delayed until July 1, 2010, and other payments for the project were made. on February 28, 2011, the construction of the building was completed, and it reached the intended state of use. on April 30, 2011, Company A handled the final accounts for the completion of the construction project. Without considering other factors, the capitalization period of the borrowing cost of Company A is ( ).
A. February 1, 2010 to April 30, 2011
B. March 5, 2010 to February 28, 2011
C. July 1, 2010 to February 28, 2011
D. July 1, 2010 to April 30, 2011
Answer C
14.In a debt restructuring in which the debt is settled with non-cash assets, the creditor should recognize a loss on debt restructuring for each of the following ( ).
A. The difference between the fair value of the non-cash assets received and the original book value of the assets
B. The difference between the fair value of the non-cash assets received and the original book value of the assets
C. The difference between the fair value of the non-cash assets received and the book value of the restructured claim
D. The difference between the original book value of the non-cash assets received and the book value of the restructured claim
D. The difference between the original book value of the non-cash assets received and the book value of the restructured claim
D. The difference between the original book value of the restructured claim
D. The difference between the original carrying value of the non-cash asset received and the carrying value of the restructured claim
Answer C
15.The following statements regarding the accounting treatment related to construction contracts are incorrect ( ).
A.Sporadic gains from snoring related salvage materials after the completion of a construction contract should be recognized as non-operating income
B.If the total estimated cost of a construction contract in execution exceeds the total contract revenue, an asset impairment loss should be recognized
C.Revenue from a construction contract includes the initial revenue stipulated in the contract as well as revenues arising from contractual variations, claims, incentives, etc.
D. If the results of a construction contract can be reliably estimated at the balance sheet date, the percentage-of-completion method should be used to recognize contract revenue and contract costs
Answer A
II. Multiple-choice questions (This category of questions *** 10 subquestions, each subquestion of 2 points, *** 20 points. Each sub-question alternative answer, there are two or more correct answers that meet the meaning of the question. Please fill in the selected answers, according to the requirements of the answer card, with a 2B pencil to fill in the answer card in the question number 16 to 25 information points. (No points for multiple choices, fewer choices, wrong choices, or no choices)
16. The following statements about accounting policies and their changes are correct ( ).
A. Accounting policies relate to accounting principles, accounting bases and specific accounting treatments
B. Changes in accounting policies indicate that there were errors in the accounting policies adopted in previous accounting periods
C. Changes in accounting policies should be able to better reflect the financial position of the enterprise and the results of the business
D. Transactions or events occurring in the current period compared with previous periods have essential differences and new accounting policies are useful. A new accounting policy that is useful because it is different from that of the previous period is not a change in accounting policy
Answer ACD
17.The following statements about events after the balance sheet date are correct ( ).
A. Non-adjusting events after the balance sheet date that have a material impact should be disclosed in the notes
B. Adjusting events after the balance sheet date should adjust the financial statements at the balance sheet date
C. Events after the balance sheet date include all the events occurring between the balance sheet date and the date of the approval of the financial report
D. Judgement of the asset Adjustments after the balance sheet date are judged on the basis that they provide new or further evidence of circumstances that existed at the balance sheet date
Answer ABD
18.Of the following, the following are among those that should be recognized as donation revenue by a private non-profit organization ( ).
A. Acceptance of donations of labor services
B. Acceptance of donations of marketable securities
C. Acceptance of donations of office space
D. Acceptance of donations of monetary funds
Answer BCD
19. For the products in progress that need to be processed before they can be sold to the outside world, the following are among the factors to be taken into account in determining their net realizable value ().
A. In the product has been incurred production costs
B. In the product processed into finished products after the expected sales price of external sales
C. In the product in the future processed into finished products is estimated to be incurred in the processing costs
D. In the product processed into finished products after the expected cost of sales to external sales
Answer BCD
20.
20.The following statements about the accounting treatment of patent rights used exclusively in the production of products are correct ().
A. The amount of amortization of the patent right should be included in administrative expenses
B. The useful life of the patent right should be reviewed at least annually at the end of each year
C. The amortization method of the patent right should be reviewed at least annually at the end of each year
D. The patent right should be subsequently measured at cost less accumulated amortization and provision for impairment
Answer BCD
21.The following statements about the group of assets recognized in an asset impairment test are correct ().
A. An asset group is the smallest combination of assets that an enterprise can identify
B. Identifying an asset group should take into account the way in which decisions are made about the continued use or disposal of the assets
C. Identifying an asset group should take into account the way in which the management of the enterprise manages its production and operating activities
D. Cash inflows generated by an asset group should be independent of the cash inflows generated by the other assets or groups of assets
C. Cash inflows generated by an asset group should be independent of the cash inflows generated by other assets or groups of assets. Cash inflows
Answer ABCD
22. In determining the period during which capitalization of borrowing costs is suspended, a distinction should be made between normal and abnormal interruptions. Of the following, the following are non-normal interruptions ().
A. Interruption caused by quality disputes
B. Interruption caused by safety accidents
C. Interruption caused by labor disputes
D. Interruption caused by liquidity difficulties
Answer ABCD
23. July 31, 2010, A company payable to company B 4.2 million yuan due, due to operating difficulties, it is not expected to be repaid in the short term. On that day, Company A reached the following debt repayment agreement with Company B on the debt, which belongs to debt restructuring ().
A. Company A settles the debt with fixed assets with a fair value of 4.1 million yuan
B. Company A settles the debt with long-term equity investment with a fair value of 4.2 million yuan
C. Company A reduces the debt of 2.2 million yuan, and the remaining part of the debt is postponed for two years to be repaid by Company A
D. Company A reduces the debt of 2.2 million yuan, and the remaining part of the debt is repaid immediately in cash
C. Company B reimburses the debt of 2.2 million yuan, and the remaining part of the debt is repaid immediately in cash. cash repayment
Answer ACD
24. On January 1, 2010, Company A sells a batch of goods to Company B by installment collection, with a contracted sales value of 50 million yuan, to be collected in equal amounts over five years on December 31 of each year. The cost of the goods is RMB 38 million. If sold on a cash basis, the selling price of the goods is RMB 45 million. Without considering the value-added tax and other factors, on January 1, 2010, Company A's sales of the business on the financial statements of the relevant items of the impact of the sale of the business, the correct are ().
A. Increase long-term receivables by 45 million yuan
B. Increase operating costs by 38 million yuan
C. Increase operating income by 50 million yuan
D. Decrease inventory by 38 million yuan
Answer ABD
25. Among the following, the factors that should be considered by an enterprise in determining the home currency of its accounts There are ().
A. The main currency used to obtain borrowings
B. Determine the main currency used to determine the cost of production of goods
C. Determine the main currency used to determine the sales price of goods
D. Receive payment from the operating activities of the main currency used to collect payments
Answer ABCD
Three, judgmental questions ( This category of questions *** 10 sub-questions, each sub-question 1 point, *** 10 points. Please judge whether the expression of each sub-question is correct or not, and according to the requirements of the answer card, with a 2B pencil to fill in the answer card in the question number 46 to 55 information points. If you think the statement is correct, fill in the information dot [√] in the answer card; if you think the statement is wrong, fill in the information dot [×] in the answer card. Each sub-question will be awarded one mark for a correct answer, 0.5 marks will be deducted for an incorrect answer, and no marks will be scored or deducted for a non-answer. (The minimum score for this category is zero.)
46. Translation differences arising from the translation of financial statements in foreign currencies should be shown in the balance sheet under the item "Undistributed Profit". (√)
47. If an error in the accounting estimate of a previous accounting period is found, the accounting treatment should be carried out in accordance with the provisions of the correction of prior period errors. (√)
48. In order to cope with the risks and uncertainties faced by production and operation activities in the market economic environment, an enterprise should overestimate liabilities and expenses and underestimate assets and income. (√)
49. If the influencing factors that led to the write-down of the value of inventories in previous periods have disappeared in the current period, the amount of the write-down should be restored within the amount of the original provision for decline in the value of inventories that has been made. (√)
50.Environmental protection equipment purchased by an enterprise that cannot directly bring economic benefits to the enterprise through its use should not be managed and accounted for as fixed assets. (√)
51. The effective interest rate used to calculate interest income from a held-to-maturity investment should be determined at the time the investment is acquired and remain constant over the expected life of the investment or a shorter period if applicable. (√)
52. If the Company repurchases shares to form treasury stock for the purpose of employee equity incentives, the difference between the sum of the amount received and the cumulative amount of the related capital surplus recognized during the waiting period based on the services provided by the employees and the cost of the treasury stock delivered to the employees when the employees exercise their rights to purchase the Company's shares, and the cost of the treasury stock delivered to the employees shall be recognized as a non-operating income and expense. (×)
53. If a debt restructuring with modified debt terms involves a contingent receivable amount, the creditor shall recognize as a loss on debt restructuring the difference between the book value of the restructured claim, which is higher than the sum of the book value of the restructured claim and the contingent receivable amount. (√)
54. Contingent liabilities, whether they involve potential or present obligations, should not be recognized in the financial statements, but should be disclosed in the notes in accordance with the relevant provisions. (√)
55. Deferred income tax liabilities are not recognized for taxable temporary differences arising from the difference between the initial measurement amounts of assets and liabilities recognized at the time of the business combination and their tax bases. (×)
Subjective part of the test
(Subjective questions require that you must use a 0.5-0.7 mm black ink signature pen to answer in the designated answer area in the answer card)
Four, calculation and analysis of the questions (this type of questions *** 2 sub-topics, sub-topic 1, 12 points, sub-topic 2, 10 points, *** 22 points. Where required to calculate the project, unless otherwise specified, are required to set out the calculation process; calculation of the results of decimals, are retained to two decimal places after the decimal point. (Where accounting entries are required to be prepared, except for special requirements in the question, only the first level of accounts need to be written)
1. Company A is a listed company, and the materials relating to its investment in Company B's shares from 2009 to 2010 are as follows:
(1) On May 20, 2009, Company A purchased from the secondary market with a bank deposit of 3 million yuan (which contains cash dividends declared but not yet paid by Company B) 60,000 yuan) to purchase 100,000 shares of Company B's common stock from the secondary market, and paid another 18,000 yuan in related transaction costs. Company A classifies the stock investment as an available-for-sale financial asset.
(2) On May 27, 2009, Company A receives cash dividends of RMB 60,000 from Company B.
(3) On June 30, 2009, the closing price of Company B's stock fell to $26 per share, and Company A expects the decline in Company B's stock price to be temporary.
(4) Starting from July 2009, the stock price of Company B continues to fall; by December 31, the closing price of Company B's stock falls to $20 per share, and Company A determines that the stock investment is impaired.
(5) On April 26, 2010, Company B declared a cash dividend of $0.1 per share.
(6) On May 10, 2010, Company A receives $10,000 from Company B in cash dividends.
(7) Since January 2010, Company B's stock price has continued to rise; by June 30, the closing price of Company B's stock rose to $25 per share.
(8) On December 24, 2010, Company A sold all of its shares of Company B in the secondary market at a price of $28 per share, while paying $16,800 in related transaction costs.
Assuming that Company A recognizes changes in fair value and performs an impairment test on June 30 and December 31 of each year, without regard to income taxes, and that all payments are received and paid in bank deposits.
Required:
(1) Based on the above information, prepare the accounting entries for the relevant operations of Company A on a line-by-line basis.
(2) Calculate the effect of the investment on the operating profit of Company A in 2009 and 2010 respectively.
("Available-for-sale financial assets" requires detailed accounts; the unit of amount in the answer is expressed in ten thousand yuan)
Reference Answer:
(1) Purchase of stock on May 20, 2009:
1) Debit: available-for-sale financial assets -cost 295.8
Dividends receivable 6
Loan: bank deposits 301.8
On May 27, 2009, Company A receives cash dividends from Company B:
2) Borrow: bank deposits 6
Loan: dividends receivable 6
June 30, 2009 Temporary decline occurred on June 30, 2009:
3) Debit: capital surplus - other capital surplus 35.8
Loan: available-for-sale financial assets - change in fair value 35.8 (295.8-260)
Substantial decline occurred on Dec. 31, 2009:
4) Impairment occurred
Borrow: Asset impairment loss 95.8 (295.8-200)
Credit: Capital surplus - other capital surplus 35.8
Available-for-sale financial assets - provision for impairment 60
On April 26, 2010, Company B declared a cash dividend:
5) Debit: dividend receivable 1
Loan: investment income 1
6) Received the dividend on May 10, 2010:
Debit: bank deposits 1
Loan: dividend receivable 1
7) Changes in fair value on June 30, 2010 :
Borrow: available-for-sale financial assets - provision for impairment 50 (25-20)*10
Loan: capital surplus - other capital surplus 50
8) December 24, 2010:
Borrow: bank deposits 278.32 (28*10-1.68)
Available-for-sale financial assets - provision for impairment 10
- change in fair value 35.8
Loan: available for Available-for-sale financial assets - cost 295.8
Investment income 28.32
Borrow: capital surplus - other capital surplus 50
Loan: investment income 50
2. Company A is a Company A is a listed company, and the relevant information for 2010 is as follows:
(1) At the beginning of 2010, Company A has a debit balance of 1.9 million yuan of deferred tax assets and a credit balance of 100,000 yuan of deferred tax liabilities, which are composed of the following items:
Unit: 10,000 yuan
Items
Deductible temporary differences
Deferred income tax Assets
Taxable temporary differences
Deferred income tax liabilities
Accounts receivable
60
15
Trading financial assets
40
10
Available financial assets
200
50
Projected Liabilities
80
20
Operating Losses Deductible Before Tax
420
105
Total
760
190
40
10
(2) Company A's realized fiscal 2010 Profit totaled 16.1 million yuan. information on related transactions or events in 2010 is as follows:
①The provision for bad debts on accounts receivable was reversed by 200,000 yuan at the end of the year. According to the tax law, the transferred bad debt loss is not recognized as taxable income.
② Recognize a gain of RMB200,000 from changes in fair value based on changes in fair value of trading financial assets at year-end. According to the tax law, the gain on change in fair value of trading financial assets is not recognized as taxable income.
3) The capital surplus is increased by RMB400,000 at year-end based on the change in fair value of available-for-sale financial assets. According to the tax law, the amount of change in fair value of available financial assets is not included in taxable income.
④ The actual payment of product warranty expenses of RMB500,000 in the current year reduces the related projected liabilities recognized in the previous period; and the product warranty expenses of RMB100,000 are recognized in the current year, which increases the related projected liabilities. According to the tax law, the actual payment of product warranty expenses is allowed to be deducted before tax. However, the projected product warranty expenses are not allowed to be deducted before tax.
⑤ Research and development expenditures incurred during the year amounted to RMB 1 million, all of which were expensed to current profit or loss. According to the tax law, when calculating the taxable income, the actual incurred research and development expenditures incurred in the year can be deducted at 50%.
(3) The amounts of relevant balance sheet items and their tax bases at the end of 2010 are as follows:
Unit: RMB 10,000
Items
Book value
Tax basis
Accounts receivable
360
400
Trading financial assets
420
360
Available financial assets
400
560
Projected liabilities
40
0
Operating losses deductible before tax
0
0
(4) Company A applies an income tax rate of 25%, the applicable income tax rate is not expected to change in future periods, and sufficient taxable income can be generated in future periods to offset deductible temporary differences; no other factors will be considered.
Requirements:
(1) Based on the above information, calculate Company A's taxable income and the amount of income tax payable for 2010.
(2) Based on the above information, calculate the amount of temporary differences in each item of Company A at the end of 2010, and fill in the results in the table at the specified position on the answer card.
(3) Based on the above information, prepare the accounting entries related to deferred income tax assets or deferred income tax liabilities on a line-by-line basis.
(4) Based on the above information, calculate the amount of Company A's 2010 income tax expense.
(The unit of the amount in the answer is expressed in ten thousand yuan)
1) The effect on operating profit in 2009 = 958 (ten thousand) yuan. Decrease operating profit by 958,000 yuan; (debit asset impairment loss 958,000 yuan)
2) The effect on operating profit in 2010 = 1 + 28.32 + 50 = 793,200 (yuan). Increase in operating profit 793,200 yuan (credit investment income 10,000 yuan + credit investment income 283,200 yuan + credit investment income 500,000 yuan)
Reference Answer:
(1) Taxable Income = 1610-20-20-40-50-420=1060
Income Tax Payable = 1060*25% = 265
(2) Omitted
(3)
Borrow: capital surplus 10
Income tax expense 120
Credit: Deferred tax assets 130
Borrow: income tax expense 5
Credit: deferred income tax liabilities 5
(4) Income tax expense = 120 + 5 + 265 = 390 ( million yuan)