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1、中级财务会计英模拟试题（分录部分）考点一：应付账款与应付票据Ex.13-68—Notespayable.OnAugust31,FargoCo.partiallyrefunded$270,000ofitsoutstanding10%notepayablemadeoneyearagotoArmaStateBankbypaying$270,000plus$27,000interest,havingobtainedthe$297,000byusing$78,600cashandsigninganewone-year$240,000notedi
2、scountedat9%bythebank.Instructions(1)Maketheentrytorecordthepartialrefunding.AssumeFargoCo.makesreversingentrieswhenappropriate.(2)PreparetheadjustingentryatDecember31,assumingstraight-lineamortizationofthediscount.Solution13-68(1)NotesPayable270,000InterestExpense27,00
3、0DiscountonNotesPayable(9%×$240,000)21,600NotesPayable240,000Cash78,600(2)InterestExpense(1/3×$21,600)7,200DiscountonNotesPayable7,200Pr.13-75—AccountsandNotesPayable.DescribedbelowarecertaintransactionsofBeaconCompanyfor2004:1.OnMay10,thecompanypurchasedgoodsfromJayCom
4、panyfor$90,000,terms2/10,n/30.Purchasesandaccountspayablearerecordedatnetamounts.TheinvoicewaspaidonMay18.2.OnJune1,thecompanypurchasedequipmentfor$120,000fromNolanCompany,paying$40,000incashandgivingaone-year,9%noteforthebalance.3.OnSeptember30,thecompanydiscountedat10
5、%its$240,000,one-yearzero-interest-bearingnoteatFirstStateBank.Instructions(a)Preparethejournalentriesnecessarytorecordthetransactionsaboveusingappropriatedates.(b)PreparetheadjustingentriesnecessaryatDecember31,2004inordertoproperlyreportinterestexpenserelatedtotheabov
6、etransactions.Assumestraight-lineamortizationofdiscounts.(c)IndicatethemannerinwhichtheabovetransactionsshouldbereflectedintheCurrentLiabilitiessectionofBeaconCompany'sDecember31,2004balancesheet.Solution13-75(a)May10,2004Purchases/Inventory88,200AccountsPayable88,200Ma
7、y18,2004AccountsPayable88,200Cash88,200June1,2004Equipment120,000Cash40,000NotesPayable80,000Solution13-75(cont.)September30,2004Cash216,000DiscountonNotesPayable24,000NotesPayable240,000(b)InterestExpense4,200InterestPayable($80,000×.09×7/12)4,200InterestExpense6,000Di
8、scountonNotesPayable($24,000×3/12)6,000(c)CurrentLiabilitiesInterestpayable$4,200Notepayable—NolanCompany80,00
