ADM3340 F2011 FinalExam docdepot

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Final Exam
Intermediate Financial Accounting II
Fall 2011
ADM3340 Sections A & B


Tuesday & Friday

Tuesday evening


Write your name and student ID number above.
Turn off all cell phones.
This examination comprises 5 questions over 20 numbered pages. Answer Question 1’s multiple-choice questions on the SCANTRON sheet provided. Answer Questions 2-5 in this booklet. Booklet is not to be removed from the examination room. You may not separate the pages.

Limit your answer to the space provided. Blank sheets for rough work and supporting calculations are given at the end of each question.
This exam will be marked out of 100 marks for convenience and is 3 hours long. You should budget approximately 1.8 minutes per mark. The exam is worth 50% of the overall course mark. Please do not ask the invigilator or the professor any questions, as they will not be answered. State reasonable assumptions, if you feel they are necessary.

Present value tables are provided on pages 19-20.
Language (non-electronic) dictionaries are allowed if permitted by the professor. You must sign the Statement of Academic integrity on page 2 of this exam. Marks


20 x 1-mark multiple choice

2: part 1

Financial instrument


2: part 2

Convertible bond: issuance


2: part 3

Convertible bond: conversion


2: part 4

Non-financial derivative






4: part 1



4: part 2



4: part 3
4: part 4

Statement of Cash Flows


ADM3340 Fall 2011 Final Examination for posting to docdepot



Statement of Academic Integrity
The Telfer School of Management does not condone academic fraud, an act by a student that may result in a false academic evaluation of that student or of another student. Without limiting the generality of this definition, academic fraud occurs when a student commits any of the following offences: plagiarism or cheating of any kind, use of books, notes, mathematical tables, dictionaries or other study aid unless an explicit written note to the contrary appears on the exam, to have in his/her possession cameras, radios (radios with head sets), tape recorders, pagers, cell phones, or any other communication device which has not been previously authorized in writing. Statement to be signed by the student:

I have read the text on academic integrity and I pledge not to have committed or attempted to commit academic fraud in this examination.
Note: an examination copy or booklet without that signed statement will not be graded and will receive an exam grade of zero.

ADM3340 Fall 2011 Final Examination for posting to docdepot


QUESTION 1 (20 marks: 1 mark each)
Answer ALL parts to this question on the SCANTRON sheet provided. Each part is independent. The marker will not assess anything you write on this or the following page.

This page has

ADM3340 Fall 2011 Final Examination for posting to docdepot


QUESTION 1 (20 marks: 1 mark each) (continued)

This page has

ADM3340 Fall 2011 Final Examination for posting to docdepot


QUESTION 2 (26 marks)
Answer ALL parts to this question. Each part is independent. PART 1: (6 marks)
A description of several different financial instruments follows : a.

Subordinated debentures payable, bearing an interest rate of 9%, interest reset every three years with reference to market rates; principal due to be repaid only on the dissolution of the company, if ever, although may be repaid at the company’s option on interest re-pricing dates.


Subordinated 8% debentures payable, interest payable semi-annually, due in the year 2020. At maturity, the face value of the...
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