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)。 F35e/YfG
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: lD{9o
2
(Expressed in RMB thousands) ;ymUMQ%;/
FINANCLAL STATEMENTS ITEMS B^KC~W
20×8 k6dSj>F>
20×7 4YdmG.CU
lfCoL@$6D
Sales $#0%gs/x
64000 wD*_S}]
48000 ;Yi ;2ttW
&<L+;k~P%
Cost of sales h88
3pe=
54000 4u"O/rt
42000 `f b}cJUa
ql],Wplg
Net profit d,$[633It}
30 0C0iAp
-20 %]NbTTL
Z EG
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December 31, 20×8 {At1]>
December 31, 20×7 aLP
2p]
K+n6.BzW
Inventory n#m )]YQC
16000 qG~O]($
12000 |JrG?:n
~u
V.jh
Current assets A/GEDG
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60000 6n<:ph,h;
50000 eoow]me
_sw,Y!x%dF
Total assets pnVtjWrbG
100000 R$v{ p[
90000 [ UQzCqV
,u!c|4
Current liabilities m,Os$>{Ok
20000 HSyohP8 7
18000 x@Q}sW92
;c~6^s`2
Total liabilities G+=&\+{#4
30000 fq_ 6xs
25000 )}vQ?n[:'
Rm"lRkY4I[
"wA3l%d[Y
During the audit, John has the following findings: wbVM'E/&
(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:
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Dr. Cash in Bank RMB 5820000 ]#TL~u[
Dr. Financial Expenses RMB 180000 R7( + ^%
Cr. Notes Receivable RMB 6000000 l8n#sGA %
(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: >\[sNCkf
Dr. Non-operating Expenses RMB 3000000 <HI5xB_
Cr. Provisions RMB 3000000 p%_r0
On January 10, 20×9,Company A received a judgment on repaying RMB 2500000 v~uQ_ae$>
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: H+\rCefba
Dr. Provisions RMB 3000000 cBiv=!n
Cr. Cash in Bank RMB 2500000 E.
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Cr. Non-operating Income RMB 500000 H>a3\M
Required: K-(,,wS
(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. )%f]`<