五、英文附加題(本題型共1題，共10分，答案中的金額單位以元表示，有小數的，保留兩位小數，兩位小數后四舍五入。用英文在答題卷上解答，答在試題卷上無效)。

　　Company A is a listed company located in P. R. China. On January 1,20×4,Company A signed two share-based payment arrangements as follow:

　　A.The company granted 100 cash share appreciation rights (SARs) to each of its 300 senior management employees, conditional upon the employees remaining in the company’s employ for the next three years. The cash share appreciation rights provided the employees with the right to receive, at the date the rights were exercised, cash equal to the appreciation in the company’s share price since the grant date. On Dece,ber 31,20×6,all SARs held by the remaining employees vested. They could be exercised during 20×7 and 20×8. The fair value and the intrinsic value(Which equals the cash paid out) of SARs are shown below.

　　Management estimated, on the grant date, that 20% of the employees would leave evenly during the three-year period. During 20×4,22 employees left the company and management predicted the same level of departure for the next two years. During 20×5,20 employees left and management estimated that a further 15 employees would leave during year 3.Only 10 employees left during 20×6. At the end of 20×7,110 employees exercised their SARs, another 138 employees exercised their SARs on December 12,20×8.

　　Answer:

　　Journal entries:

　　1. December 31, 20X4

　　Dr: Administrative expense 171,600

　　Cr: Wages payable 171,600

　　(300-22×3)×100×22×1/3=171,600