multiple-choice
In 20 1 and 20 14 years, Company A sold products A and B 1000 and 20,000 respectively, and the unit sales price was 100 yuan and 50 yuan respectively. The company provides the buyer with free warranty service within 2 years after the product is sold. It is estimated that the warranty cost is between 2% and 8% of the sales. The actual warranty fee of 20 14 is 50,000 yuan, and the estimated debt at the beginning of 20 14+0 is 30,000 yuan. Assuming that there are no other contingencies, the amount of "estimated liabilities" in the balance sheet of Company A at the end of 2065438+2004 is () ten thousand yuan.
A.8
B 13
C5
D.0
Answer a
Analysis of the "estimated liabilities" in the balance sheet of Company A at the end of 20 14 = 3+(1×100+2× 50) × (2%+8%)/2-5 = 8 (ten thousand yuan).
2.20×2 years 65438+February 1 day, Company A and Company B signed an irrevocable product sales contract, stipulating that Company A would submit a batch of products to Company B three months later, and the contract price (excluding VAT) was 5 million yuan. If Company A breaches the contract, it will pay a penalty of1000000 yuan. By the end of 20×2, the production cost of this product by Company A has reached 200,000 yuan. Due to the rising price of raw materials, Company A estimated that the total cost of producing this product was 5.8 million yuan. Without considering other factors, the estimated liabilities confirmed by Company A for this contract are () 20×2 65438+February 3 1.
0.20 million yuan
0.60 million yuan
800,000 yuan
100000 yuan
Answer b
Company A continues to perform contract loss analysis =580-500=80 (ten thousand yuan). If the company breaches the contract, it will pay a penalty of 6,543,800,000 yuan, and may bear the cost loss of 200,000 yuan. Company A shall continue to execute the contract, and the expenses incurred in executing the contract =580-20=560 (ten thousand yuan), and the estimated liabilities = 560-5000 yuan shall be confirmed.
3.20× 2,65438 February, with the approval of the board of directors, Company A cancelled a marketing outlet from 20×3, 1 year1month, and the business restructuring plan was announced to the public. In order to implement the business restructuring plan, Company A is expected to incur the following expenses or losses: paying compensation of 6,543,800 yuan for dismissing employees, paying liquidated damages of 200,000 yuan for canceling the store lease contract, losing 650,000 yuan for disposing the equipment in the store, and transporting the goods in the store back to the company headquarters for 50,000 yuan. The impact of the 20×2-year business restructuring plan on the total profit of Company A is ().
A.-65438+200,000 yuan
B.-65,438+650,000 yuan
C.-65438+850,000 yuan
D.- 1.9 million yuan
Answer c
According to the analysis, the compensation for dismissing employees of 6,543,800 yuan and the liquidated damages for canceling the store lease contract of 200,000 yuan belong to the direct expenses of reorganization, and the equipment in the store will lose 650,000 yuan, which belongs to equipment impairment, and both of them will affect the total profit of Company A. Therefore, the amount of influence of this business reorganization plan on the total profit of Company A in 20×2 years is =100+20+65 =/kloc-0.
multiple-choice question
1. Of the following statements about contingencies, the correct one is ().
A. contingent assets or contingent liabilities are not recognized.
When contingent assets may bring economic benefits to the enterprise, they should be disclosed in the notes to the accounting statements.
C contingent assets should not be disclosed in the notes to accounting statements, but when contingent assets are likely to bring economic benefits to enterprises, they should be disclosed in the notes to accounting statements.
D An economic case should be recognized as an asset if the enterprise has a 98% possibility of obtaining compensation of 6,543,800 yuan.
E. When contingent liabilities meet certain conditions, the enterprise shall recognize them as liabilities.
Answer communication
When contingencies meet certain conditions, enterprises can recognize them as liabilities or assets, while contingent liabilities and contingent assets should not be recognized. Contingent assets should generally not be disclosed in the notes to accounting statements, but when contingent assets are likely to bring economic benefits to enterprises, they should be disclosed in the notes to accounting statements. Therefore, options a and c are correct. Contingencies recognized as assets must meet two conditions at the same time: (1) related obligations have been recognized as liabilities; (2) Obtaining compensation from the third party or other parties is basically certain.
Computational problem
1.A company is a manufacturer of household appliances, mainly producing three kinds of household appliances, A, B and C. The related matters of Company A's 20×8 are as follows:
(1) The management of Company A has made a business restructuring plan of 20×8 years (1 1). The main contents of the business restructuring plan are as follows: C product production line will be closed from 20×9 years 65438+ 10/month 1; There are 250 employees engaged in the production of C products. Except for 50 department heads and technical backbones who are retained and transferred to other departments, the remaining 200 people will be dismissed. According to the positions and working years of the dismissed employees, Company A gives the dismissed employees different standards of compensation at one time, and the compensation expenditure is 8 million yuan. On the day when the production line of product C was closed, the rented factory was vacated, the lease contract was cancelled and handed over to the lessor, and the fixed assets used to produce product C were transferred to the warehouse of company A. The above business restructuring plan was reviewed and approved by the board of directors of company A on February 2, 20865438, and announced to the public on February 3, 65438. 20×8 years 65438+February 3 1 day, the above business restructuring plan has not been actually implemented, and the staff salaries and related expenses have not been paid. In order to implement the above business restructuring plan, Company A is expected to incur the following expenses or losses: paying 8 million yuan as compensation for dismissing employees; Termination of the factory lease contract will pay a penalty of 250,000 yuan; Because the fixed assets used in the production of C products are transferred to the warehouse, the transportation fee is 30,000 yuan; Retained staff training expenditure is 6,543,800 yuan; Due to the promotion of new product B, the advertising cost will be 25 million yuan; Due to the disposal of fixed assets used for the production of C products, an impairment loss of 65,438 yuan+500,000 yuan will occur.
Requirements: (1) According to the data (1), determine which direct expenses are related to the business restructuring of Company A, and calculate the estimated amount of liabilities to be recognized due to the restructuring obligations.
Requirements: (2) According to the data (1), calculate the amount of total profit of Company A reduced by 20×8 due to the business restructuring plan, and prepare relevant accounting entries.
The answer is (1) 8 million yuan is required for dismissing employees and 250,000 yuan is required for canceling the factory lease contract. These are the direct expenses related to restructuring. Estimated amount of liabilities to be confirmed due to restructuring obligations =800+25=825 (ten thousand yuan).
Answer (2) The total annual profit is reduced by 20×8 = 825+ 150 = 975 (ten thousand yuan) due to the reorganization plan.
Debit: non-operating expenses 25
Loans: estimated liabilities 25
Debit: management fee 800
Loan: Payable to employees, 800 yuan.
Debit: asset impairment loss 150
Loan: fixed assets impairment reserve 150
Requirements: (3) According to data (2) and (3), judge whether Company A should recognize the obligations related to these contingencies as estimated liabilities. If confirmed, calculate the estimated liabilities and prepare relevant accounting entries; If not, explain why.
(2) In 20× 8 years, 65,438+February, 65,438+May, consumers brought a lawsuit to the court for property losses caused by the use of product C, demanding that Company A compensate for the losses of 5.6 million yuan. 65438+February 3 1, the court has not yet made a judgment on this case. After consulting legal counsel, Company A thinks that the case is likely to lose. According to professional calculations, the compensation amount of Company A may be between 4.5 million yuan and 5.5 million yuan, and the possibility of each amount in the above range is the same.
(3) On February 25th, 20× 8, 12, Company C (a subsidiary of Company A) borrowed 32 million yuan from the bank for a term of 3 years. With the approval of the board of directors, Company A provides full guarantee for the above-mentioned bank loan of Company C ... 65438+February 3 1, Company C is in good operating condition, and it is expected that there will be no repayment difficulties.
Answer (3) Information (2) Estimated liabilities should be confirmed. Estimated liabilities =(450+550)÷2=500 (ten thousand yuan)
Debit: non-operating expenses 500
Loan: estimated debt 500
Data (3) should not confirm the estimated liabilities. Reason: This project will probably not lead to the outflow of economic benefits from the enterprise, which does not meet the conditions for confirming the estimated amount of contingent liabilities.
Requirements: (4) According to the data (4), judge whether Party B should confirm the estimated liabilities in its balance sheet on 20× 8 65438+February 3 1 day, and explain the judgment basis.
(4) On May 20, 20× 8, the customer of Company B (Company C) filed a lawsuit with the court for product quality problems, requesting the court to order Company B to compensate for the loss of 6.5438+0.2 million yuan. As of June 30, 20× 8, the court has not yet made a judgment on the above cases. Company B, after knowing the situation from the court and consulting legal counsel, judged that the possibility of obtaining compensation in product quality litigation was less than 50%. On June 30th, 20× 8,65438+February 3rd1day, Company B evaluated the product quality litigation of Company C, and found that the litigation status was the same as that on June 30th, 20× 8. On June 5, 20×9, the court made a judgment on the product quality lawsuit of Company C, and rejected the lawsuit of Company C. ..
Answer (4) According to the conditions of contingent liabilities, it can be judged that Company B does not need to confirm the estimated liabilities. Because one of the conditions for recognizing liabilities is that the performance of this obligation is likely to lead to the outflow of economic benefits from the enterprise. At the beginning of the problem, after knowing the situation from the court and consulting the legal adviser, Company B judged that the possibility of loss compensation in the product quality lawsuit was less than 50%. If it is not satisfied, it is possible, so Company B does not need to confirm the estimated liabilities at the end of 20×8.
Requirements: (5) According to the data (5), judge whether the accounting treatment of Company A is correct; If it is not correct, briefly explain the reasons and prepare accounting entries to correct the mistakes. (The relevant error correction is treated as the current error, and it is not required to prepare accounting entries to carry forward profits and losses. )
(5) On February 3, 2012, Company A had the following two unfulfilled contracts:
(1)20 12 In February, Company A signed an irrevocable contract with Company B, agreeing to sell 20 100 boxes of A products to Company B at a price of 20,000 yuan per box in March; Company B pays a deposit of 300,000 yuan in advance, and Company A will double the deposit in case of default. 20 12 12 3 1 2, there was no product a and raw materials needed to produce it in the inventory of company a. Due to the sharp rise in the price of raw materials, Company A expects the production cost of each box of A products to be 24,000 yuan.
② In August, 2065438+02, Company A signed a sales contract with Company C, stipulating that 300 pieces of product B would be sold to Company C at the price of 3,000 yuan each at the end of February 20 13, and the liquidated damages would be 20% of the total contract price. 2012,65438+2,31,a company has 300 products in stock, with a total cost of 6.5438+0.2 million yuan, and the total market price calculated at the current market price is1/kloc-0.5 million yuan. Suppose company A sells product B without any sales expenses.
As the above-mentioned contract has not been fully performed as of 20 12 12 3 1 2, Company A confirmed the deposit received from Company B as an advance account on 20 12, and no other accounting treatment was carried out. Accounting treatment is as follows:
Debit: Bank deposit 30
Credit: accounts received in advance 30
Answer (5) Incorrect accounting treatment. Reason: When the executed contract becomes loss contract, if the enterprise owns the assets subject to the contract, it should first conduct impairment test on the assets subject to the contract and confirm the impairment loss according to the regulations. If the estimated loss exceeds the impairment loss, the excess shall be recognized as the estimated liability. If there are no assets subject to the contract, the relevant obligations under the contract shall be recognized as estimated liabilities when the conditions for recognizing the estimated liabilities are met. The estimated debt amount should be lower than the contract execution loss and contract termination loss.
① Product A: the loss occurred in the execution of the contract = 100×(2.4-2)=40 (ten thousand yuan), and the loss occurred in the non-execution of the contract is 300,000 yuan (overpaying the deposit), so the estimated debt should be confirmed to be 300,000 yuan. Enter correctly:
Debit: non-operating expenses 30
Loans: estimated liabilities 30
(2) Product B: loss caused by contract execution = 120-300×0.3=30 (ten thousand yuan); If the contract is not executed, the loss = 300× 0.3× 20%+(120-115) = 23 (ten thousand yuan); Company A should choose not to execute the contract, that is, pay liquidated damages. Enter correctly:
Debit: Asset impairment loss (120- 1 15)5
Credit: Inventory depreciation reserve 5
Debit: non-operating expenses 18
Loans: estimated liabilities 18
Requirements: (6) According to the data (6), judge whether the accounting treatment of Company A is correct; If it is not correct, briefly explain the reasons and prepare accounting entries to correct the mistakes. (The relevant error correction is treated as the current error, and it is not required to prepare accounting entries to carry forward profits and losses. )
(6) Company A provides "three guarantees" service for the products sold during the period from 20 10 to 1, and it is agreed that if the products have quality problems within a certain period after being sold, they will be responsible for returning the products or providing free repairs. At the beginning of 20 12, Company A confirmed an estimated debt of 70,000 yuan for the "three guarantees" service of product D. The production of product D stopped on July 3 1 1 and the "three guarantees" deadline of product D was 20 12 12 365438. All the D products in company A's inventory have been sold before the end of 20 1 1. 20 12 the "three guarantees" cost of product d in the fourth quarter was 50,000 yuan (all labor costs), and no "three guarantees" cost occurred in other quarters. The accounting treatment of Company A's 20 12 is as follows:
Debit: Estimated liabilities 5
Loan: Salary payable to employees 5
Answer (6) Incorrect accounting treatment. Reason: If an enterprise no longer produces products with confirmed estimated liabilities, it should write off the balance of "estimated liabilities-product quality assurance" after the expiration of the corresponding product quality assurance period, leaving no balance. Enter correctly:
Debit: Estimated Liabilities 2
Credit: Selling expenses 2