(6) W Company computed the following items from its financial records for 1999：
Price-earning ratio 12
Pay-out ratio 0.6
Assets turnover ratio 0.9
The dividend yield on W‘s common stock for 1999 is ：
A. 5% B. 7.2% C. 7.5% D. 10.2%
(7) the data about Accounts receivable of Newton Company for 1999 as follows：
Accounts receivable 12/31/1999 $150000
Allowance for uncollectible accounts 12/31/1999 5000(credit)
Bad debt expenses for the year 2000
During 1999 recoveries on bad debts previously written off were correctly recorded at $500. If the beginning balance in the allowance for uncollectible accounts was $4700， What was the amount of accounts receivable written off as bad debts during 1999：
A. $1200 B. $1800 C. $2200 D. $2400
(8) Which one of the following items would likely increase earnings per share (EPS) of a corporation？
A. Declaration of a stock dividend；
B. Declaration of a stock split；
C. Purchase treasury stock；
D. A reduction in the amount of cash dividends paid；
E. None of above；
(9) The primary purpose for using an inventory flow assumption is to：
A. Parallel the physical flow of units merchandise；
B. Offset against revenue an appropriate cost of goods sold；
C. Minimize income taxes；
D. Maximize the reported amount of net income.
(10) Delta company sold a plant assets that originally had cost of $50000 for $22000 cash. If Delta company correctly reports a $5000 gain on this sale. The accumulated depreciation on the asset at the date of sale must have been：
A. $28000； B. $23000 C. $33000； D. $27000； E. Some other amount
6. Bonds payable issue and recording interest expenses.(15%)
The ABC Company sold $600000 of its 9.5%， 12 years bonds on April 1， 2000， at 106. The semi-annual interest payment dates are April 1 and October 1. The effective interest rate is approximately 8.9%. The company‘s fiscal year ends December 31.
Required：
Prepare journal entries to record：
(1) The issue of the bonds on April 1，2000
(2) The first interest payment on October 1， 2000
(3) The Amortization of premium or discount and interest expenses on December 31， 2001.
7. Statement of Cash Flows (14%)
The net income of the ZY Company for 1999 was $260000. Additional data available relative to activities for the year are given below：
A. Depreciation expenses for the year， $90000；
B. Loss on sale of machinery used in operations was $2400；
C. Accounts receivable increased by $2000；
D. Accounts payable increased by $8400；
E. Patent amortization for the year was $14800；
F. Amortization of premium on bonds payable for the year was $4600.
Required
Prepare the cash flows from operating activities section of a statement of cash flows under the indirect method.
8. Determining Revenue and Capital Expenditures (11%)
The controller for XYZ Co. Asks you to review the Repair and Maintenance Expenses account to determine if all of the charges are appropriate. The account contains many transactions totaling $215540. All of the transactions are considered material.
Required：
You examine three of the transactions. Indicate whether each transaction is properly charged to the reqair and maintenance account and， if not， indicate why not and to which account the transaction should be charged. The three transactions as follows：
Item Date Amount Decription
1 01/03/00 $10000 Two-year service contract on office equipment
2 05/18/00 $38500 Sealing roof leaks over entire production plant
3 10/20/00 $48500 Purchase a crane for the assembly departement
推薦：2007年注冊(cè)會(huì)計(jì)師考試考前沖刺輔導(dǎo)，名師講課
更多信息請(qǐng)?jiān)L問：考試吧注冊(cè)會(huì)計(jì)師欄目
希望與其他注會(huì)考生進(jìn)行交流？點(diǎn)擊進(jìn)入注冊(cè)會(huì)計(jì)師論壇>>>
進(jìn)入考試吧博客記錄下自己的備考?xì)v程吧
