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)。 Ig*!0(v5$
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: H"].G^V\6
(Expressed in RMB thousands) `G6Nk@9.
FINANCLAL STATEMENTS ITEMS NgQ {'H[Y
20×8 ,"5Fw4G6*
20×7 l. !5/\
,\xeNUZd
Sales ~O&3OL:L
64000 +Z#lf
48000 u0Irf"Ab
vaS/WEY
Cost of sales _L<IxOZh+
54000 utfD$8UI
42000 ?kISAA4x
t@.M;b8
Net profit e%u1O-*
30 ESL(Mf'
-20 Ks7DoXCvE
K9:I8E<
c"H*9u:
December 31, 20×8 P]bI".A8
December 31, 20×7 #'_i6
":tQYo]d
Inventory ;gP@d`s
16000 Vd1.g{yPV
12000 t,)`
Zu$
^ dM,K
p
Current assets IhhB^E|
60000 &Vd,{JU
50000 9Qst5n\Z
gk1I1)p
Total assets ]KBzuz%
100000 ~L<q9B( @
90000 37Q9goMov
%lF}!
Current liabilities =I-SQI8
20000 UMuRB>ey
18000 b<u
2zZ" }Zr#
Total liabilities }YfM<
30000 -NGY+1
25000 n3SCiSr
Xb@lKX5Re
7`9J.L&,;
During the audit, John has the following findings: y 4j
0n
F
(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: KU|dw^Y k
Dr. Cash in Bank RMB 5820000 o4^rE<vJ
Dr. Financial Expenses RMB 180000 FZ)_WaqGf
Cr. Notes Receivable RMB 6000000 dj3}Tjt
(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: }\!&3^I
Dr. Non-operating Expenses RMB 3000000 ZaIlo5
Cr. Provisions RMB 3000000 c!{v/zOz
On January 10, 20×9,Company A received a judgment on repaying RMB 2500000 NifzZEX
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: RP?UKOc
Dr. Provisions RMB 3000000 mI_ ?hl?Pv
Cr. Cash in Bank RMB 2500000 XT~!dq5
Cr. Non-operating Income RMB 500000 vN=e
1\
Required: .'.#bH9K
(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. @)owj^sA
(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: ?`#)JG,A7
(a)Inventory Turnover Rate in 20×8; aY&