[기출문제] 서울대학교 회계원리 2025-1 기말 기출문제 (정답 포함)

서울대학교 회계원리 2025-1 기말 기출문제 (정답 포함)

 

 

 

1. 시험 정보

 

학교/과목	서울대학교/회계원리
시험명	2025-1 기말
교수명	최선화 교수님
문항수/형식	OX형 5문제 / 선택형 15문제
정답/해설	✅ 있음
파일형식	docx

 

 

 

2. 출제 범위 & 키워드

 

중급회계(재무회계) 전반(채권·감가상각·현금흐름표·자본·배당·충당부채) 객관식+계산 종합

 

 

📚 키워드

 

 

 

 

 

3. 기출 미리보기

 

 

Part A: T/F and Multiple Choice Questions (20*3 marks = 60 marks)

 

 

 

4. 자료 보기

 

 

[기출 문제] 

 

Part A: T/F and Multiple Choice Questions (20*3 marks = 60 marks) [Q 1-5: Indicate whether the statement is true (T) or false (F)] 1. To accelerate the receipt of cash from receivables, owners may sell the receivables to another company or financial institutions for cash. 2. Under the double-declining-balance method, the depreciation rate used each year remains constant. 3. Discount on bonds is an additional cost of borrowing and should be recorded as interest expense over the life of the bonds. 4. If treasury shares that were purchased for €25 per share are resold at €20 per share, a Loss on the Sale of Treasury Shares will be reported on the income statement. 5. The payment of interest on bonds payable can be classified as a cash outflow from operating activities. [Q 6-20: Pick the best answer listed for each question below] 6. Nance Company estimates its annual warranty expense as 4% of annual net sales. The following data relate to the calendar year 2025: Net sales €1,500,000; Warranty liability account Balance, Dec. 31, 2025 $10,000 debit before adjustment; Balance, Dec. 31, 2025 50,000 credit after adjustment. Which one of the following entries was made to record the 2025 estimated warranty expense? a. Warranty Expense 60,000 / Retained Earnings 10,000, Warranty Liability 50,000 b. Warranty Expense 50,000, Retained Earnings 10,000 / Warranty Liability 60,000 c. Warranty Expense 40,000 / Warranty Liability 40,000 d. Warranty Expense 60,000 / Warranty Liability 60,000 7. On January 1, 2025, Istanbul Inc. sold bonds with a face amount of $7,000,000 and a contract rate of 10% for $6,197,065. The effective-interest rate is 12%. Interest is payable annually on January 1. Istanbul uses effective interest amortization of premiums and discounts. The journal entry to record the first interest accrual and amortization of discount on December 31, 2025 will include a. a credit to Bonds Payable of $43,648. b. a credit to Bonds Payable of $96,352. c. a credit to Cash of $743,648. d. a credit to Interest Payable of $840,000. 8. The times interest earned is computed by dividing a. net income by interest expense. b. income before income taxes by interest expense. c. income before interest expense by interest expense. d. income before income taxes and interest expense by interest expense. 9. Presto Company purchased equipment and these costs were incurred: Cash price $27,500; Sales taxes 1,800; Insurance during transit 320; Installation and testing 430. Presto will record the acquisition cost of the equipment as a. $27,500. b. $29,300. c. $29,620. d. $30,050. 10. Wilton Company reported net income of $80,000 for the year. During the year, accounts receivable decreased by $7,000, accounts payable increased by $3,000 and depreciation expense of $5,000 was recorded. Net cash provided by operating activities for the year is a. $70,000. b. $95,000. c. $79,000. d. $75,000. 11. Sargent Corporation bought equipment on January 1, 2025. The equipment cost €540,000 and had an expected residual value of €90,000. The life of the equipment was estimated to be 6 years. If the company uses the straight-line method for depreciation, the book value of the equipment at the beginning of the third year would be a. €540,000. b. €450,000. c. €390,000. d. €150,000. 12. If a company is given credit terms of 2/10 n/30, it should a. hold off paying the bill until the end of the credit period, while investing the money at 10% annual interest during this time. b. pay within the discount period and recognize a savings. c. pay within the credit period but don't take the trouble to invest the cash while waiting to pay the bill. d. recognize that the supplier is desperate for cash and withhold payment until the end of the credit period while negotiating a lower sales price. 13. Nicklaus Company has decided to sell one of its old machines on June 30, 2025. The machine was purchased for $160,000 on January 1, 2021, and was depreciated on a straight-line basis for 10 years with no residual value. If the machine was sold for $52,000, what was the amount of the gain or loss recorded at the time of the sale? a. $36,000. b. $108,000. c. $44,000. d. $92,000. 14. Which of the following show the proper effect of a share split and a share dividend? a. Total equity: Increase in the case of share split / Increase in the case of share dividend b. Total retained earnings: Decrease in the case of share split / Decrease in the case of share dividend c. Total par value (ordinary): Decrease in the case of share split / Increase in the case of share dividend d. Par value per share: Decrease in the case of share split / No change 15. IFRS allows companies to revalue plant assets to fair value. When an asset has increased in value, where is the account "Revaluation Surplus" reported? a. On the income statement as part of income from continuing operations (other revenues and gains). b. On the income statement as part of discontinued operations (discontinuing historical cost). c. On the statement of financial position as part of accumulated comprehensive income (equity). d. All of these answer choices are correct. 16. The sale(issuance) of bonds above face value a. is a rare occurrence. b. will cause the total cost of borrowing to be less than the bond interest paid. c. will cause the total cost of borrowing to be more than the bond interest paid. d. will have no net effect on interest expense by the time the bonds mature. 17. Gowns, Inc. uses the percentage of receivables basis to estimate its bad debts. At December 31, 2025, Gowns estimates total bad debts that will become uncollectible in the future as €6,608. The existing balance in the Allowance for Doubtful Accounts is a credit balance of €1,408. The Accounts Receivable balance at December 31, 2025 is €105,600. The amount of the bad debt adjusting entry at December 31, 2025 will impact the statement of financial position accounts by a. Increasing expenses by €6,608. b. Increasing the Allowance for Doubtful Accounts by €6,608. c. Increasing Accounts Receivable by €5,200. d. Increasing the Allowance for Doubtful Accounts by €5,200. 18. Irwin, Inc. had 200,000 ordinary shares outstanding before a share split occurred, and 600,000 shares outstanding after the share split. The share split was a. 2-for-6. b. 1-for-3. c. 1-for-6. d. 3-for-1. 19. Slaton Company originally issued 6,000 ordinary shares with a $10 par value for $90,000 ($15 per share). Slaton subsequently purchases 600 treasury shares for $27 per share and resells the 600 treasury shares for $29 per share. In the entry to record the sale of the treasury shares, there will be a a. credit to Share Capital-Ordinary for $16,200. b. credit to Treasury Shares for $6,000. c. debit to Gain from Disposal of Treasurey Shares of $18,000. d. credit to Gain from Disposal of Treasurey Shares for $1,200. 20. Joy Elle's Vegetable Market had the following transactions during 2025: Issued $100,000 of par value ordinary shares for cash. Repaid a 6-year note payable (borrowing) in the amount of $44,000. Declared and paid a cash dividend of $4,000. Sold a non-current investment (cost $84,000) for cash of $12,000. Acquired an investment in IBM shares for cash of $24,000. What is the net cash provided by financing activities? a. $52,000 b. $100,000 c. $56,000 d. $36,000 Part B: Problems (total 40 marks) Problem 21 (15 marks) On December 31, 2025, Potter Corporation issued $2,000,000, 6%, 5-year bonds for $1,837,750. The bonds were sold to yield an effective-interest rate of 8%. Interest is paid annually on December 31. The company uses the effective-interest method of amortization. Required: (a) Prepare a bond discount amortization schedule which shows the amortization of discount for the first two interest payment dates. (Round to the nearest dollar.) (b) Prepare the journal entries that Potter Corporation would make on December 31, 2026, related to the bond issue. Problem 22 (10 marks) On January 1, 2025, Dolan Corporation had 60,000 ordinary shares with a €1 par value issued and outstanding. During the year, the following transactions occurred: Mar. 1: Issued 20,000 ordinary shares for €400,000. June 1: Declared a cash dividend of €2 per share to shareholders of record on June 15. June 30: Paid the €2 cash dividend. Dec. 1: Purchased 4,000 ordinary shares for the treasury for €22 per share. Dec. 15: Declared a cash dividend on outstanding shares of €2.25 per share to shareholders of record on December 31. Instructions: Prepare journal entries to record the above transactions. Problem 23 (15 marks) Newman Corporation's comparative statements of financial position are presented below. (2025/2024): Equipment ($60,000 / $70,000); Accumulated depreciation ($14,000 / $10,000); Investments ($25,000 / $16,000); Accounts receivable ($25,200 / $22,300); Cash ($12,200 / $17,700). (2025/2024): Share capital-ordinary ($50,000 / $45,000); Retained earnings ($33,800 / $29,900); Bonds payable ($10,000 / $30,000); Accounts payable ($14,600 / $11,100). Additional information: Net income was $19,300. Dividends declared and paid were $15,400. Equipment that cost $10,000 and had accumulated depreciation of $2,200 was sold for $3,800. All other changes in non-current account balances had a direct effect on cash flows except the change in accumulated depreciation. Instruction: Prepare a statement of cash flows for 2025 using the indirect method.

 

 

[정답]

 

Part A: T/F and MCQs Answers 1. T | 2. T | 3. T | 4. F | 5. T 6. d | 7. a | 8. d | 9. d | 10. b | 11. c | 12. b | 13. a | 14. d | 15. c | 16. b | 17. d | 18. d | 19. d | 20. a Part B: Problem 21 Solution (a) Bond Discount Amortization Schedule: 12/31/25 (Issue date): Carrying Value = $1,837,750 12/31/26: Interest Paid ($120,000); Interest Expense ($147,020); Amortization ($27,020); Carrying Value = $1,864,770 12/31/27: Interest Paid ($120,000); Interest Expense ($149,182); Amortization ($29,182); Carrying Value = $1,893,952 (b) Journal Entries (Dec 31, 2026): Interest Expense: 147,020 (Debit) Bonds Payable: 27,020 (Credit) Cash: 120,000 (Credit) Problem 22 Solution Mar. 1: Cash 400,000 / Share Capital-Ordinary 20,000, Share Premium-Ordinary 380,000 June 1: Cash Dividends 160,000 / Dividends Payable 160,000 $(80,000 \times €2) June 30: Dividends Payable 160,000 / Cash 160,000 Dec. 1: Treasury Shares 88,000 / Cash 88,000 $(4,000 \times €22)$ Dec. 15: Cash Dividends 171,000 / Dividends Payable 171,000 $(76,000 \times €2.25)$ Problem 23 Solution (Statement of Cash Flows) Operating: Net Income $19,300 + Depreciation $6,200 + Loss on disposal $4,000 + Increase in A/P $3,500 - Increase in A/R $2,900 = $30,100 Investing: Sale of equipment $3,800 - Purchase of investments $9,000 = ($5,200) Financing: Issuance of shares $5,000 - Retirement of bonds $20,000 - Dividends $15,400 = ($30,400) Net decrease in cash: ($5,500) Cash at end of period: $12,200