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AICPA考试模考:2017年FAR最新模拟精选练习!

来源:立信AICPA - 发布时间: 2018-05-04 - 【学会计到立信 相信品牌的力量!】 分享到

  美国纽约州从1896年开始,便以考试的方式来测试会计师的资格。随后各州亦立法要求以通过考试的方式取得会计师资格。自1917年美国会计师协会第一次实施统一会计师考试(Uniform CPA Examination)以来,美国注册会计师已经拥有90年以上的历史,美国注册会计师考试可以算是会计专业考试的始祖,同时,AICPA也是目前全球会员规模大的注册会计师协会。

  Fenn Stores, Inc. had sales of $1,000,000 during December. Experience has shown that merchandise equaling 7% of sales will be returned within 30 days and an additional 3% will be returned within 90 days. Returned merchandise is readily resalable. In addition, merchandise equaling 15% of sales will be exchanged for merchandise of equal or greater value. What amount should Fenn report for net sales in its income statement for the month of December?

  a. $850,000

  b. $750,000

  c. $780,000

  d. $900,000

  答案:D

  Explanation

  Choice "d" is correct. When sales returns can be estimated, a decrease in revenue with a debit to the allowance for sales returns is made. 10% returns are expected. $1,000,000 less 10% is $900,000. Expected exchanges do not affect net sales or inventory or cost of sales. The earnings process is complete for the exchanges. SFAS 48 para. 3,4.

  Choice "a" is incorrect. Net sales should reflect estimated sales returns but not exchanges.

  Choice "c" is incorrect. Net sales should be reduced by 10% as the allowance for returns, but should not be reduced for exchanges.

  Choice "b" is incorrect. Net sales should reflect estimated sales returns but not exchanges.

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