中正97年 中會 - 會計

1.Rensing Company's December 31 year-end financial statements contained
the following errors:
Dec/31/2007 Dec/31/2008

Ending inventory $7,500 understated $11,000 overstated
Depreciation expense 2,000 understated

An insurance premium of $18,000 was prepaid in 2007 covering the years
2007, 2008, and 2009. The prepayment was recorded with a debit to
insurance expense. In addition, on December 31,2008, fully depreciated
machinery was sold for $9,500 cash, but the sale was not recorded until
2009. There were no other errors during 2008 or 2009 and no corrections
have been made for any of the errors.Ignore income tax considerations.

What is the total net effect of the errors on Rensing's 2008 net income?
(A)Net income understated by $14,500.
(B)Net income overstated by $7,500.
(C)Net income overstated by $13,000.
(D)Net income overstated by $15,000.
(E)Net income understated by $13,000.

答案是(D)...但我算不出來

2. On March 1,2007, Yang Corporation issued $800,000 of 8% nonconvertible
bonds at 104, which are due on February 28, 2007. In addition, each $1,000
bond was issued with 25 detachable stock warrants, each of which entitled
the bondholder to purchase for $50 one share of Yang common stock, par
value $25. The bonds without the warrants would normally sell at 95. On
March 1,2007, the fair market value of Yang's common stock was $40 per
share and fair market value of the warrants was $2.00. What amount should
Yang record on March 1, 2007 as paid-in capital from stock warrants?

(A) $28,800 (B)$33,600 (C)$41,600 (D)$40,000 (E) $35,000

答案是(C)

請會的板友幫我解答~謝謝



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