六、英文附加题（本题型共1题，共10分。有小数点的，保留两位小数。小数点两位后四舍五入。用英文在答题卷上解答，答在试题卷上无效）。 7uzk p &+:
John, CPA, is auditing the financial statements of Company A for the year ended December 31, 20×8. The un-audited information of selected financial statements items is as follows: 03C0 L&
（Expressed in RMB thousands） 6}r`/?"A1
FINANCLAL STATEMENTS ITEMS *}P~P$q%
20×8 c38D}k^):
20×7 2}8v(%s p
eJg8,7WC
Sales F$)[kP,wtO
64000 p5G? N(l
48000 Jv^h\~*jH
Bz,?{o6s)Q
Cost of sales >y"+ -7V)
54000 .9wk@C(Eh_
42000 J{Q|mD=
0Vx. nUQ
Net profit EN/,5<S<,[
30 `nu''B
H
-20 u?C#4
8i2n; LAz
ov, hI>0!D
December 31, 20×8 q<M2,YrbAI
December 31, 20×7 kGl~GOB
a
>7 ="8
Inventory Rb'|EiNPw
16000 L Gn:c;
12000 5 aCgjA11
vX.VfY
Current assets mHRiugb!
60000 7j-4TY~
50000 E 7{U |\
V- BiF>+
Total assets o 2F)%T DY
100000 : . Wr{"`
90000 `x*Pof!Io
nlc
"c5;jh
Current liabilities z:wutq ru
20000 , 5h)x"s
18000 iUN Ib
" )1V ]}+m
Total liabilities )P
sY($ &
30000
< J`0
25000 GB=X5<;
9P+-#B
9w7n 1k.
During the audit, John has the following findings: koug[5T5
(1)On December 31, 20×8,Company A discounted an undue commercial acceptance bill (with recourse) amounted to RMB 6000000, and was charged discounting interest of RMB 180000 by the bank. Company A made an accounting entry on December 31, 20×8 as follows: EFM5,gB.m
Dr. Cash in Bank
;{N!Eb`S
RMB 5820000 8)_XJ"9)G
Dr. Financial Expenses 1n;0?MIZ
RMB 180000 >G25m'&,7
Cr. Notes Receivable Wi)_H$KII
~x1$h#Cx'
RMB 6000000 + R~'7*EI
(2)In June 20×8, Company A provided guarantee for Company B’s borrowings from Bank C. In December 20×8, since Company B failed to repay the borrowings in time, Company A was sued by Bank C to make relevant repayment amounted to RMB 3000000. As at December 31, 20×8, the lawsuit was still pending, and, based on the reasonable estimate of the guarantee losses made by the management, Company A made an accounting entry as follows: ^'PWI{ O
Dr. Non-operating Expenses m+]K;}.}R
RMB 3000000 Fj2BnM3
#
Cr. Provisions cQ
R]le %(
RMB 3000000 ]>5/PD,wWy
On January 10, 20×9,Company A received a judgment on repaying RMB 2500000 \ "P%` C
to Bank C to settle the guarantee obligation. Company A made the payment and an accounting entry at the end of January 2009 as follows:
f*?]+rz
Dr. Provisions u0 `S5?
RMB 3000000 ?67Y -\}
Cr. Cash in Bank "ut 39s i
RMB 2500000 )"7iJb<E
Cr. Non-operating Income \!.B+7t=I
RMB 500000 *nkoPVpC
Required: 0AL=S$B)
(1)For Revenue and Net Profit, explain which one is more appropriate to be used to calculate planning materiality for Company A’s 20×8 financial statements as a whole. Explain the reasons of that conclusion. 4O^xY
6m
(2)Based on the un-audited in formation of selected financial statements items, for the purpose of using analytical procedures as risk assessment procedures, calculate the following ratios: lR6@
xJd:@
(a)Inventory Turnover Rate in 20×8; gCB |DY
(b)Gross Profit Ratio in 20×8; I; wp':
(c)After Tax Return on Total Assets in 20×8; and A P?R"%
(d)Current Ratio as at December 31, 20×8 ia!y!_L\'
(3)For each audit finding identified during the audit, list the suggested adjusting entries that John should made for Company A’s 20×8 financial statements. Tax effects, if any, are ignored.
