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)。 l\JoWL
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: kF`2%g+
(Expressed in RMB thousands) yS %J$o&
FINANCLAL STATEMENTS ITEMS 5'Y @c
20×8 Bzw~OB{!=J
20×7
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Sales }]'Z~5T
64000 }PUQvIGZZ&
48000 YOqGFi~`
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Cost of sales b[%sKl
54000 ez@`&cJ7
42000 ?Bno?\
TW"
TgOfd
Net profit X3P~z8_
30 =]K;"
-20 S=*rWh8)%<
l
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{k
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December 31, 20×8 kl,I.2-
December 31, 20×7 IQAV`~_G
Rt} H.D
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Inventory Tu"bbc
16000 Gb4k5j
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12000 E3@G^Y
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Current assets omevF>b;
60000 dkVF
50000 i7_Nv
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Total assets JR] /\(
100000 0K<y
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90000 mnh>gl!l
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Current liabilities % put=I
20000 ?%-VSL>$w=
18000 bFD
vCF
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Total liabilities -.<fGhmU
30000 O9?t,1
25000 094~ s
h8B:}_Cu
-FftEeo7
During the audit, John has the following findings: 7)SG#|v[$
(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 T5H[~b|9-
Dr. Financial Expenses RMB 180000 5tfD*j n
Cr. Notes Receivable RMB 6000000 Aj#bhv
(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: ;n]GHqzY_
Dr. Non-operating Expenses RMB 3000000 V{4=,Ax
Cr. Provisions RMB 3000000 %Z_/MNI
On January 10, 20×9,Company A received a judgment on repaying RMB 2500000
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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: {| ~
Dr. Provisions RMB 3000000 5ar2Y$bY
Cr. Cash in Bank RMB 2500000 Ck.LsL-
Cr. Non-operating Income RMB 500000 Sp/t[\,'
Required: {x_SnZz &
(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. y.vYT{^
(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: $]LhE:!G
(a)Inventory Turnover Rate in 20×8; +5~5BZP
(b)Gross Profit Ratio in 20×8; 9BR/zQ2
(c)After Tax Return on Total Assets in 20×8; and @N+ }cej
(d)Current Ratio as at December 31, 20×8
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(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. 8G3CQ]G
【中文翻译】注册会计师约翰负责审计A公司20×8年12月31日的财务报表。 ]+4QsoFNt
以下是未经审计财务报表的部分信息: ^EtBo7^t
(单位:千元) <KY \sb9
项目 20×8 20×7 y950Q%B]
营业收入 64 000 48 000 4gD;X NrV
营业成本 54 000 42 000
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净利润 30 -20 q~:H>;:G-
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20×8年12月31日 20×7年12月31日 c+S<U*
存货 16 000 12 000 X;:q
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流动资产 60 000 50 000 j}s<Pn%4
总资产 100 000 90 000 hSkI]%
流动负债 20 000 18 000 ({&