USCPA　過去問　Fixed asset

これ、この問題、どのExpenseも同じような性質を持っているから、やるなら全額足すか、全額引くのどっちかだとは何となく想像つくけど。。

 

Dell Printing Co. icurred the following costs for one of its printing presses:

Purchase of collating and stapling attachment $84,000
Installation of attachment 36,000
Replacement parts for overhaul of press 26,000
Labor and overhead in connection with overhaul 14,000

The overhaul resulted in a significant increase in production. Neither the attachment nor the overhaul increased the estimated useful life of the press. What amount of the above costs should be capitalized?

  • $0
  • $ 84,000
  • $120,000
  • $160,000

 

解説で、先生は、これらの工事は全て、increse estimated useful life　だから、Future economic benefit が発生するので、全額Capitalizeできるそうです。

 

が、これ、Neitherって書いてない？

否定系だから、Future economic benefitにならないんじゃないの？Expenseになるんじゃないの？って不思議。

 

 

 資産計上できる、固定資産に関する費用は基本的に、Future economic benefitが伴うかどうかで判断する模様です。

A building suffered uninsured water and related damage. The damaged portion of the building was refurbished with upgraded materials. The cost and related accumulated depreciation of the damaged portion are identifiable. To account for these events, the owner should
  • Capitalize the cost of refurbishing and record a loss in the current period equal to the carrying amount of the damaged portion of the building
  • Capitalize the cost of refurbishing by adding the cost to the carrying amount of the building
  • Record a loss in the current period equal to the cost of refurbishing and continue to depreciate the original cost of the building
  • Record a loss in the current period equal to the sum of the cost of refurbishing and the carrying amount of the damaged portion of the building

 

Refurbishingに関しては、ビルの一部となるわけだし、future economic benefitも間違いなく発生する。

被害を受けた部分については、損失として認識する。

USCPA　？過去問　Fixed Asset interest capitalization場面別

金利系、苦手だな。。。
 
これも、加重平均を出す問題なのかな、と予想はついたけど、ブランク空きすぎて加重平均の出し方わからなくなったｗ
 
Sun Co. was constructing fixed assets that qualified for interest capitalization. Sun had the following outstanding debt issuances during the entire year of construction:

$6,000,000 face value, 8% interest
$8,000,000 face value, 9% interest

None of the borrowings were specified for the construction of the qualified fixed asset. Average expenditures for the year were $1,000,000. What interest rate should Sun use to calculate capitalized interest on the construction?
  • 8.00%
  • 8.50%
  • 8.57%
  • 9.00%

 

加重平均は、まず、掛け算して総額をだす。

6mil x 8% = 48 

8mil x 9% = 72 

合計　120

 

120　で　face valueの総額6mil + 8mil = 14mil　を割ると

 

14/120 = 8.57%

 

 

 以下、加重平均を出さなくてもいい問題。

月別にかかったコストに差が出てないので。

 

また、聞かれてる問題が、Capitalize interest なのか、Interest expenseなのか、よく読んで判断しましょう。

On January 2 of the current year, Cruises, Inc. borrowed $3 million at a rate of 10% for three years and began construction of a cruise ship. The note states that annual payments of principal and interest in the amount of $1.3 million are due every December 31. Cruises used all proceeds as a down payment for construction of a new cruise ship that is to be delivered two years after start of construction. What should Cruise report as interest expenses related to the note in its income statement for the second year?
  • $0
  • $300,000
  • $600,000
  • $900,000

 

上記の人は、ローンはＰｒｏｃｅｅｄｓ　を使って　Ｄｏｗｎ　Ｐａｙｍｅｎｔ　で一括返済しているので、

3mil/3yr

= 年間1mil x 10% = 300000 の金利は、全額Ｃａｐｉｔａｌｉｚｅでき、Ｅｘｐｅｎｓｅ にはしないこととする。

 

loan が建築行為（たとえば、工程費に使われたなど）に直接ながらない、支出だった場合（たとえば、建設道具の購入、建物内の設備投資等）

 

Down Paymentってなんだ？　

 

 

金利系の問題追加！
自社使い用で建造した資産、それに付随して発生した利子費用はどう処理されるかといいますと
 
An asset is being constructed for an enterprise's own use. The asset has been financed with a specific new borrowing. The interest cost incurred during the construction period as a result of expenditures for the asset is
  • Interest expense in the construction period
  • A prepaid asset to be written off over the estimated useful life of the asset
  • A part of the historical cost of acquiring the asset to be written off over the estimated useful life of the asset
  • A part of the historical cost of acquiring the asset to be written off over the term of the borrowing used to finance the construction of the asset

 

取得原価の一部となり、耐用年数で徐々に償却できます！

 

 
また追加
 
Cole Co. began constructing a building for its own use in January of the current year. During the year, Cole incurred interest of $50,000 on specific construction debt, and $20,000 on other borrowings. Interest computed on the weighted-average amount of accumulated expenditures for the building during the year was $40,000. What amount of interest cost should Cole capitalize?
  • $20,000
  • $40,000
  • $50,000
  • $70,000

 

実際に発生した利息は、50000　と　20000　で　70000だけど、

Weighted average で計算された40000　が　Avoidable interest

 

Capitalize できるのは、上記の40000までです。

それを超えた分については、interest exoenseとする必要があります。

 

 

 

USCPA 過去問　Cash-flow Accrued Interest Payable vs. Depreciation expense

間違えた問題！

Depreciation Expense は、Operating Expense のプラスになるはずです。

下の問題で聞かれてるのは、Subtracted from- だったね。

 

Increase in accrued interest payable についても？かな。

Payableが増えてる＝払わなくていいものが増えてる＝Cashではプラス

と考えると、Subtracted from Operating activityではNoになるのかな。

 

In a statement of cash flows (indirect method), which of the following are subtracted from net income to determine net cash flow from operating activities?

 

Increase in accrued interest payable

Depreciation expense
a. Yes Yes
b. Yes No
c. No Yes
d. No No

 

後で解説を聞いてみよう

 

USCPA ？過去問　Cash Flow Financing Activity

During the current year, Xan Inc. had the following activities related to its financial operations:

Payment for the early retirement of long-term bonds payable (carrying amount $370,000) $375,000
Distribution of cash dividend declared in previous year to preferred shareholders 31,000
Carrying amount of convertible preferred stock in Xan, converted into common shares 60,000
Proceeds from sale of treasury stock (carrying amount at cost, $43,000) 50,000

In Xan's current year statement of cash flows, net cash used in financing operations should be

  • $265,000
  • $296,000
  • $356,000
  • $358,000

 

あれ、この問題、

 

Carrying amount of convertible preferred stock　は、 Non cash activity です！！！

なので、キャッシュフローは動きません。

 

Proceeds from sales of treasury stock は、financing activityなんだっけ？？

Treasury stock 関連はOperating activity だったような気もするんだが。

 

後確認します。

USCPA　過去問　 Cash inflow/outflow 子会社投資

これは知らないと難しい問題です。
 
通常、Note Receivableの回収などは、資金調達ですから、Financing Activityに該当します。
 
Which of the following would be reported as an investing activity in a company's statement of cash flows?
  • Collection of proceeds from a note payable
  • Collection of a note receivable from a related party
  • Collection of an overdue account receivable from a customer
  • Collection of a tax refund from the government

 

が、上のような問題にでてくる、

Receivable from a related party　（子会社との取引）

は

Investment Activity　に該当します！

覚えるしかないね。。

USCPA　過去問　Cash-flow Investment Activity　間違えやすいやつ

これ、できた❤
できたけど、忘れるから記録
 
Investing Activityは一転、固定資産とSecuritiesのやりとりが主。
 
For the year ended December 31, Ion Corp. had cash inflows of $25,000 from the purchases, sales, and maturities of held-to-maturity securities and $40,000 from the purchases, sales, and maturities of available-for-sale securities. What amount of net cash from investing activities should Ion report in its cash flow statement?
  • $0
  • $25,000
  • $40,000
  • $65,000

 

でもね、Securityといっても、Trading securitのような、期限が短くてすぐに監禁できちゃうようなものは、Operating activityに入ってしまいます。

 

HTMとかAFSは、満期まで待つとか、長期戦ですぐに換金されないので、立派な投資活動とみなされます。

よって、この問題では両方投資活動であり、どちらもCash Inflowなので、

2つを足し合わせた金額がトータルのInvestment activityのキャッシュフローです。

 

 

 また、下の問題のように、固定資産を、頭金＋手形で買った場合、手形の部分はFinancing Activityとなるようです。（問題文にも、残りはFinanceと書いてあるしね）

Polk Co. acquires a forklift from Quest Co. for $30,000. The terms require Polk to pay $3,000 down and finance the remaining $27,000. On March 1, year 1, Polk pays the $3,000 down and accepted delivery of the forklift. Polk signed a note that requires Polk to pay principal payments of $1,000 per month for 27 months beginning July 1, year 1. What amount should Polk report as an investing activity in the statement of cash flows for the year ended December 31, year 1?
  • $ 3,000
  • $ 9,000
  • $12,000
  • $30,000

 

よって、Investing activityとなるのは、頭金のみ！！！

 

 

 

 更に下。

A company acquired a building, paying a portion of the purchase price in cash and issuing a mortgage note payable to the seller for the balance. In a statement of cash flows, what amount is included in financing activities for the transaction?
  • Cash payment
  • Acquisition price
  • Zero
  • Mortgage amount

 

Cashでビルを買った分については投資となりますが！

 

Mortgage note payable　は、本来であればこれはFinancing activityであっているのですが！！！！

 

手形を振り出しただけでは、Cashに何の影響もでません。

 

手形に対するお金を支払った（受け取った）って、初めて Cash Flow financing activityが認識されます。

USCPA 過去問　 Cash flow Indirect method, Bond discount amoritzation

Ｉｎｄｉｒｅｃｔ　Ｍｅｔｈｏｄがいまだによくわかってないぞ。

あれ、でもあの、一行で収まる式が、Ｄｉｒｅｃｔ　Ｍｅｔｈｏｄだから、それ以外の、やたら手順が多い方がＩｎｄｉｒｅｃｔよね。

Would the following be added back to net income when reporting operating activities' cash flows by the indirect method?

 

Excess of treasury stock acquisition cost over sales proceeds (cost method)

Bond discount amortization
a. Yes Yes
b. No No
c. No Yes
d. Yes No

 

Treasury stock acquisition costは、Financing Activityに行きます。

Bond discount amortizationは仕訳をかくと、

 

dr Interest Expense 

             cr  Bond Discount 

 

となり、このinterest expense というのはP/L itemで、operating activityに引っかかってきます！