中級(jí)財(cái)務(wù)會(huì)計(jì)書籍-預(yù)覽頁
【正文】 effect of the two transactions as an extraordinary gain.c.Effect of its own bond transaction as an extraordinary gain, and report the Iron bond transaction loss in ine before extraordinary items.d.Net effect of the two transactions in ine before extraordinary items.18. During the current year, both Raim Co. and Cane Co. suffered losses due to the flooding of the Mississippi River. Raim is located two miles from the river and sustains flood losses every two to three years. Cane, which has been located 50 miles from the river for the past 20 years, has never before had flood losses. How should the flood losses be reported in each pany39。s ine tax rate is 30%.Orca should report the cumulative effect of this accounting change as a(n):a.Adjustment to beginning retained earnings.b.Component of ine from continuing operations.c.Extraordinary item.d.Component of ine after extraordinary items.24. On October 1, Year 1, Wand, Inc. mitted itself to a formal plan to sell its Kam division39。notForeign currency translation loss120,000Revaluation loss from revaluation of intangible assets18,000What amount should the pany report as other prehensive ine as of December 31?a.$55,000b.$137,000c.$99,000d.$17,00029. Which of the following is included in other prehensive ine?a.Foreign currency translation adjustments.b.The difference between the accumulated benefit obligation and the fair value of pension plan assets.c.Unrealized holding gains and losses on trading securities.d.Unrealized holding gains and losses that result from a debt security being transferred into the heldtomaturity category from the availableforsale category.30. Which of the following is true regarding the presentation of prehensive ine.Must be shown onthe face of theine statementRelated tax effectsfor ponentsmust be discloseda.YesNob.NoYesc.NoNod.YesYes31. What is the purpose of reporting prehensive ine?a.To provide a consolidation of the ine of the firm39。 Foreign currency translation loss of $17,000s summary of significant accounting policies in the notes to the financial statements?a.Description of current year equity transactions.b.Summary of longterm debt outstanding.c.Revenue recognition policies.d.Schedule of fixed assets.38. Dean Co. acquired 100% of Morey Corp. prior to Year 3. During Year 3, the individual panies included in their financial statements the following:DeanMorey50,000Interpany Sales150,000What amount should be reported as related party disclosures in the notes to Dean39。75,000$Loans to officers125,00050,000What amount should be reported as related party disclosures in the notes to John39。s depreciation expense at January 2, the beginning of the third year, when the error was discovered?a.$30,000b.$0c.$60,000d.$150,00042. A pany39。be restated。 the cumulative effect of the error on Years 1 and 2 should be reflected in the carrying amounts of assets and liabilities as of the beginning of Year 3.d.The financial statements for Years 1 and 2 should be restated。s loss from discontinued operations before consideration of taxes for the year ended December 31, Year 1, would be:a.850,000b.750,000c.600,000d.950,00047. Timber Co., was evaluating the likelihood of collecting various accounts receivable currently on its books. This evaluation resulted in the decision to change from the direct recognition method to the installment method for recognizing receivables. The accounting treatment for this change is best characterized as:a.Restatement.b.Prospective.c.Cumulative.d.Retroactive.48. A pany39。s year 2 financial statements. What amount should Newport report for depreciation expense on the machine in the year 2 financial statements?a.$9,000b.$10,000c.$11,000d.$20,00050. A pany decided to sell an unprofitable division of its business. The pany can sell the entire operation for $800,000, and the buyer will assume all assets and liabilities of the operations. The tax rate is 30%. The assets and liabilities of the discontinued operation are as follows:Buildings$5,000,000Accumulated depreciation3,000,000Mortgage on buildings1,100,000Inventory500,000Accounts payable600,000Accounts receivable200,000What is the aftertax net loss on the disposal of the division?a.$1,540,000b.$2,200,000c.$140,000d.$200,000
畢業(yè)設(shè)計(jì)相關(guān)推薦
鄂ICP備17016276號(hào)-1