正文
今天終於結束了魔鬼式的暑期班，好累好累，上網到處看看，可就是說不話來，腦子不好使用咯。 今天就說說早上考試的情況。嗬嗬，你一定問什麽時候上學啊？ 就在這個月底27號，所以.......還沒想到要做什麽，大概除了睡覺就是睡覺了。
考試跟平時的功課差不多，不過要在三個鍾頭半裏完成，所以情況好壞參半。我今次沒有將對的答案改為錯的，隻是算錯數了，索性就錯到底，因為沒有多餘的時間來更改。因此我才有足夠的時間來完成考試。 我也見到有些學生幾乎是交白卷，唉！ 我不求很高的分數，能通過就是啦。
以下是考試模仿題，一看就知道我說的是什麽了，誰能在三個小時裏完成呢？必有獎賞！
問答題：
1. Under what conditions, if any, should a company NOT use the equity method for an investment of 30% of the outstanding voting shares of another company? Provide a general rule and provide explicit examples.
2. From a conceptual perspective, assumming that most convertible bonds are converted into common stock rather than redeemed for cash, do convertible bonds meet the definition of liability?
3. What is the definition of an asset?
4. When should revenue be recognized?
5. What are the primary classifications of owner's equity and what are their definitions?
6. What is the effect of a stock dividend on total owner's equity? Explain.
7. What is the effect of a stock split on contributed capital? Explain.
8. Recording the foreign exchange transaction, one uses the exchange rate at the end of period and other uses the exchange rate at the transaction occur during the period. Which exchange rate will FASB choose based on the two processes in GAAP? (我都搞不懂問題問啥，大概意思是說：按照GAAP， FASB該用那種exchange rate吧？）
算題：
1. On May 1, 2001, MPP, Inc. issued 30,000 bonds, each with a face value of $1,000. The bonds are dated March 1, 2001. Interest payments are semi-annual at the face interest rate is 9.5% (annual) with interest payment dates of 3/1 and 9/1. The term of the bonds is 15 years. Each bond in convertible into 16 shares of common stock which has a par value of $10/share.
a. Provide the journal entry to record the issue of the bonds if they were issued when the (annual) market rate of interest what 10.5%.
b1. Assume that the bonds were issued when the (annual) market rate of interest was 8.5% for a total of 32,977,515. If the bonds had been issued on 3/1/2001, their value would have been $32,516,859. Record the first interest payment on 9/1/2001.
b2. Provide any adjusting entry as of 12/31/2001.
b3. Provide the journal entry for the second interest payment on 3/1/2002.
c. Assume that the bonds were issued when the market rate of interest was 8.5%. As of 9/1/2013, after the interest payment, the balance in the premium account is $663,130. Provide the journal entry(ies) that would be necessary if on 12/1/2013, MPP, inc. purchased 40% of the bonds for a total of $12,800,000, including any accrued interest.
d. Assume that the bonds were issued when the market rate of interest was 8.5%. As of 9/1/2013, after the interest payment, the balance in the premium account is $663,130. Suppose that in order to induce bondholders to convert, the company agreed to issue 17 shares of stock for each that was converted and that 30% of the bondholders converted their bonds on 9/1/2013, after the interest payment, when the market price of the stock was $80 per share. Record the conversion assuming the book value method.
2. During 2001, MPP, Inc. purchased the following equity securities:
Number of shares total cost fair value/share
AAA 20,000 $1,080,000 $67
BBB 15,000 930,000 59
CCC 12,000 972,000 74
a. provide any necessary adjusting entry as of 12/31/2001 assuming that these securities are classifed as Trading securities
provide any necessary adjusting entry as of 12/31 assuming that these securities are classified as Securities Available for sale.
what would be the difference in comprehensive income in 2001 between treating them as Trading securities and treating them as Securities Available for sale
b. On 10/1/2001, Mpp, inc. purchased some debt securities that have a face value of $30,000 fpr $330,000. The securities bear an (annual) interest rate of 9% and pay interest quarterly, on 3/1, 6/1,9/1, and 12/1. Assuming that these are classified as Trading Securities:
Record the acquisition
Record the receipt of interest on 12/1/2001
Record any necessary adjusting entry(ies) as of 12/31/2001 assuming that the fair value f these securities, including accrued interest, was $324,000 as of 12/31/2001.
他爹的，打字都打得我手都酸了，後麵還有兩大題呢
考試跟平時的功課差不多，不過要在三個鍾頭半裏完成，所以情況好壞參半。我今次沒有將對的答案改為錯的，隻是算錯數了，索性就錯到底，因為沒有多餘的時間來更改。因此我才有足夠的時間來完成考試。 我也見到有些學生幾乎是交白卷，唉！ 我不求很高的分數，能通過就是啦。
以下是考試模仿題，一看就知道我說的是什麽了，誰能在三個小時裏完成呢？必有獎賞！
問答題：
1. Under what conditions, if any, should a company NOT use the equity method for an investment of 30% of the outstanding voting shares of another company? Provide a general rule and provide explicit examples.
2. From a conceptual perspective, assumming that most convertible bonds are converted into common stock rather than redeemed for cash, do convertible bonds meet the definition of liability?
3. What is the definition of an asset?
4. When should revenue be recognized?
5. What are the primary classifications of owner's equity and what are their definitions?
6. What is the effect of a stock dividend on total owner's equity? Explain.
7. What is the effect of a stock split on contributed capital? Explain.
8. Recording the foreign exchange transaction, one uses the exchange rate at the end of period and other uses the exchange rate at the transaction occur during the period. Which exchange rate will FASB choose based on the two processes in GAAP? (我都搞不懂問題問啥，大概意思是說：按照GAAP， FASB該用那種exchange rate吧？）
算題：
1. On May 1, 2001, MPP, Inc. issued 30,000 bonds, each with a face value of $1,000. The bonds are dated March 1, 2001. Interest payments are semi-annual at the face interest rate is 9.5% (annual) with interest payment dates of 3/1 and 9/1. The term of the bonds is 15 years. Each bond in convertible into 16 shares of common stock which has a par value of $10/share.
a. Provide the journal entry to record the issue of the bonds if they were issued when the (annual) market rate of interest what 10.5%.
b1. Assume that the bonds were issued when the (annual) market rate of interest was 8.5% for a total of 32,977,515. If the bonds had been issued on 3/1/2001, their value would have been $32,516,859. Record the first interest payment on 9/1/2001.
b2. Provide any adjusting entry as of 12/31/2001.
b3. Provide the journal entry for the second interest payment on 3/1/2002.
c. Assume that the bonds were issued when the market rate of interest was 8.5%. As of 9/1/2013, after the interest payment, the balance in the premium account is $663,130. Provide the journal entry(ies) that would be necessary if on 12/1/2013, MPP, inc. purchased 40% of the bonds for a total of $12,800,000, including any accrued interest.
d. Assume that the bonds were issued when the market rate of interest was 8.5%. As of 9/1/2013, after the interest payment, the balance in the premium account is $663,130. Suppose that in order to induce bondholders to convert, the company agreed to issue 17 shares of stock for each that was converted and that 30% of the bondholders converted their bonds on 9/1/2013, after the interest payment, when the market price of the stock was $80 per share. Record the conversion assuming the book value method.
2. During 2001, MPP, Inc. purchased the following equity securities:
Number of shares total cost fair value/share
AAA 20,000 $1,080,000 $67
BBB 15,000 930,000 59
CCC 12,000 972,000 74
a. provide any necessary adjusting entry as of 12/31/2001 assuming that these securities are classifed as Trading securities
provide any necessary adjusting entry as of 12/31 assuming that these securities are classified as Securities Available for sale.
what would be the difference in comprehensive income in 2001 between treating them as Trading securities and treating them as Securities Available for sale
b. On 10/1/2001, Mpp, inc. purchased some debt securities that have a face value of $30,000 fpr $330,000. The securities bear an (annual) interest rate of 9% and pay interest quarterly, on 3/1, 6/1,9/1, and 12/1. Assuming that these are classified as Trading Securities:
Record the acquisition
Record the receipt of interest on 12/1/2001
Record any necessary adjusting entry(ies) as of 12/31/2001 assuming that the fair value f these securities, including accrued interest, was $324,000 as of 12/31/2001.
他爹的，打字都打得我手都酸了，後麵還有兩大題呢
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