会计专业英语模拟题(开卷)

中国地质大学 北京 继续教育学院 2016 年 03 课程考 试 第 1 页 共 10 页 会计专业英语会计专业英语 模拟题 补 模拟题 补 1 Complete the translation between Chinese and English 1 salvage value 2 depreciation 3 ratio analysis 4 所有者权益 5 fiscal year 6 uncollectible accounts 7 double entry system 8 petty cash 9 流动资产 10 gross profit 11 first in first out 12 资产负债表 13 common size analysis 14 corporations 15 经济业务 16 short term debt paying ability 2 Label the following accounts as asset A liability L owner s equity OE revenues R or expense E 1 Office Supplies 2 Professional Fees 3 Prepaid Insurance 4 Salary expense 5 Accounts Payable 6 Service Income 7 R L Osborn Capital 8 Rent Expense 9 Accounts Receivable 10 Notes payable 3 Answer the question related to the topic of the conversation WhyWhyWhy Isn tIsn tIsn t TheTheThe AccountingAccountingAccounting A A A MirrorMirrorMirror ofofof WhatWhatWhat Happened Happened Happened John John John Leanne Leanne Leanne cancancan youyouyou explainexplainexplain what swhat swhat s goinggoinggoing ononon hereherehere withwithwith thesethesethese monthlymonthlymonthly statements statements statements Leanne Leanne Leanne Sure Sure Sure John John John HowHowHow cancancan I I I helphelphelp you you you John John John I I I don tdon tdon t understandunderstandunderstand thisthisthis lastlastlast in in in firstfirstfirst outoutout inventoryinventoryinventory procedure procedure procedure It It It justjustjust doesn tdoesn tdoesn t makemakemake sense sense sense Leanne Leanne Leanne Well Well Well whatwhatwhat it it it meansmeansmeans is is is thatthatthat wewewe assumeassumeassume thatthatthat thethethe lastlastlast goodsgoodsgoods wewewe receivereceivereceive areareare thethethe firstfirstfirst onesonesones sold sold sold SoSoSo thethethe inventoryinventoryinventory is is is mademademade upupup ofofof thethethe itemsitemsitems wewewe purchasedpurchasedpurchased first first first John Yes but that s my problem It doesn t work that way We always distribute the oldest produce first Some of that produce is perishable We can t keep any of it very long or it ll spoil Leanne Leanne Leanne John John John youyouyou don tdon tdon t understand understand understand WeWeWe onlyonlyonly assumeassumeassume thatthatthat thethethe productsproductsproducts wewewe distributedistributedistribute areareare thethethe lastlastlast onesonesones received received received WeWeWe don tdon tdon t actuallyactuallyactually havehavehave to toto distributedistributedistribute thethethe goodsgoodsgoods in inin thisthisthis way way way John John John I I I alwaysalwaysalways thoughtthoughtthought thatthatthat accountingaccountingaccounting waswaswas supposedsupposedsupposed to toto showshowshow whatwhatwhat reallyreallyreally happened happened happened It It It allallall soundssoundssounds likelikelike make make make believe believe believe to toto me me me WhyWhyWhy notnotnot reportreportreport whatwhatwhat reallyreallyreally happens happens happens Question Question Question 中国地质大学 北京 继续教育学院 2016 年 03 课程考 试 第 2 页 共 10 页 HowHowHow wouldwouldwould youyouyou respondrespondrespond to toto JohnJohnJohn if if if youyouyou werewerewere Leanne Leanne Leanne 4 Casey Electronics ending inventory consists of 182 Model M43 CD players acquired through various purchases as follows Specific Purchase Number of Units Cost per Unit Total Cost BeginningBeginningBeginning inventoryinventoryinventory 343434 270 270 270 9180 9180 9180 First purchase 60 282 16 920 Second purchase 256 298 76 288 Third purchase 164 312 51 168Total units available 514 153 556 Of the 514 units available for sale 182 units are still on hand and 332 have been sold Under the periodic inventory system If Casey Electronics chooses LIFO method how should it calculate the cost of the 182 CD players on hand 5 You are given the following balance sheet and income statement for 2002 and 2003 Table A Balance Sheet for 2002 and 2003 all values in thousands of dollars 2002 2003 Assets Cash 200 300 Marketable securities 300 200 Receivables 800 1 000 Inventory 1 200 1 000 Fixed assets 3 300 3 700 Total assets 5 800 6 200 Liabilities and common equity Accounts payable 300 200 Notes payable 200 300 Other current liabilities 1 000 800 Long term debt 1 000 1 200 Common equity 3 300 3 700 Total liabilities and common equity 5 800 6 200 Table B Income Statement for 2003 Sales 1 000 000 Operating and other costs 700 000 EBIT 300 000 Interest 100 000 Profits before taxes 200 000 Tax at 40 rate 80 000 Profits after taxes 120 000 中国地质大学 北京 继续教育学院 2016 年 03 课程考 试 第 3 页 共 10 页 Calculate the following ratios for 2002 1 the current ratio 2 the debt to equity ratio 3 the quick ratio 6 Translate the followings into Chinese There are several specialized fields of accounting in practice The two most common are financial accounting and management accounting Other fields include cost accounting environmental accounting tax accounting international accounting not for profit accounting and social accounting 7 Choose the best answer from A B C D to complete the sentence or to answer the question 1 Which of these is are an example of an asset account A Service Revenue B Withdrawals C Supplies D All of the above 2 Which of the following is not affected by the inventory valuation method used by a business A Amounts owed for income taxes B Cost of merchandise sold C Amounts paid to acquire merchandise D Net income of the business 3 Aftin Co performs services on account when Aftin collects the account receivable A assets increase B assets do not change C owner s equity decreases D liabilities decrease 8 Casey Electronics ending inventory consists of 182 Model M43 CD players acquired through various purchases as follows Specific PurchaseNumber of UnitsCost per UnitTotal Cost BeginningBeginningBeginning inventoryinventoryinventory343434 270 270 270 9180 9180 9180 First purchase6028216 920 Second purchase25629876 288 Third purchase16431251 168 Total units available514 153 556 Of the 514 units available for sale 182 units are still on hand and 332 have been sold Under the periodic inventory system If Casey Electronics chooses FIFO method how should it calculate the cost of the 182 CD players on hand 9 On July 1 Cruz opened Cruz Auto Detail company During July the following transactions were completed 中国地质大学 北京 继续教育学院 2016 年 03 课程考 试 第 4 页 共 10 页 1 Cruz invests 70 000 cash in her new business 2 Buys equipment costing 43 000 paying cash 3 Buys equipment costing 7 000 on credit from Williams Auto Supply 4 Pays 2 000 to Williams Auto Supply to be applied against the firm s liability of 7 000 5 Buys buffer pads cleaners and waxes on account from Rossi and Company 800 6 Cash revenue received 3 520 7 Pays rent for the month 900 8 Pays for a one year vehicle insurance policy 360 9 Receives bill for newspaper advertising from Valley News 400 10 Cruz Auto Detail signed a contract with Costello Taxi to perform detailing work and then bills Costello Taxi 1 050 for services performed 11 Pays 2 000 to Williams Auto Supply as part payment on account 12 Receives and pays bill for utilities from Midwest Power Inc 160 13 Pays Valley News for advertising 400 in full This bill has been previously recorded 14 Pays wages of part time employees 1 400 15 Buys additional equipment costing 1 500 from Williams Auto Supply paying 600 down with the remaining 900 on account 16 Receives 850 from Costello Taxi to apply on account previously billed 17 Cash revenue received 2 700 18 Cruz withdraws cash for personal use 3 000 Instructions 1 Record the transactions with Dr and Cr 2 At the end of June Company needs make adjustment as follows a To record the cost of supplies used during July 540 b To record the insurance expired during July 30 c To record the depreciation for the month of July 520 d To record accrued waged owed at the end of July 290 Prepare Adjusted Trail Balance on July 31 Cruz Auto Detail Adjusted Trail Balance July 31 20 Account Name Debit Credit Cash Account Received Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Wages Payable LA Cruz Capital 中国地质大学 北京 继续教育学院 2016 年 03 课程考 试 第 5 页 共 10 页 LA Cruz Drawing Income from Servicing Wages Expense Rent Expense Advertising Expense Utilities Expense Supplies Expense Insurance Expense Depreciation Expense Equipment 10 On July 1 N B Edgar opened Coin Op Laundry Edgar s accountant listed the following chart of accounts Cash Supplies Prepaid Insurance Equipment Furniture and Fixtures Accounts Payable N B Edgar Capital N B Edgar Drawing Laundry Revenue Wages Expense Rent Expense Utilities Expense Miscellaneous Expense During July the following transactions were completed a Edgar deposited 20 000 in a bank account in the name of the business b Bought tables and chairs for cash 450 c Paid the rent for the current month 705 d Bought washers and dryers from Eldon Equipment 17 400 paying 4 000 in cash and placing the balance on account e Bought laundry supplies on account from Borkal Distributors 410 f Sold services for cash 862 g Bought insurance for one year 468 h Paid on account to Eldon Equipment a creditor 550 i Received and paid the electric bill 118 j Paid on account to Borkal Distributors a creditor 145 k Sold services to customers for cash for the second half of the month 881 l Received and paid the bill for the business license 45 m Paid wages to an employee 1 146 n Edgar withdrew cash for personal use 875 Instructions Record the transactions in the T accounts Prepare an income statement as for July 31 中国地质大学 北京 继续教育学院 2016 年 03 课程考 试 第 6 页 共 10 页 1 Complete the translation between Chinese and English 1 残值 2 折旧 3 比率分析法 4 owner s equity 5 会计年度 6 坏账 7 复式记账 8 备用金 9 current assets 10 毛利 11 先进先出法 12 balance sheet 13 结构分析法 14 集团公司 15 transaction 16 短期偿债能力 2 Label the following accounts as asset A liability L owner s equity OE revenues R or expense E 12345678910 ARAEL ROEEA L 3 Answer the question related to the topic of the conversation Answer in English the question related to the topic of the conversation In inventory accounting we need compute the amounts of cost for good sold and ending inventory However the inventory of some firms is sufficiently similar that the firm can t feasibly use specific identification costs So it must make some assumption to compute the cost of units sold and units remained in inventory which is called cost flow assumptions and one of them is LIFO LIFO usually doesn t reflect physical floes but firms use it since in a period of rising acquisition costs LIFO s higher than FIFO cost of goods sold figure reduces reported income and income taxes 4 Casey Electronics ending inventory consists of 182 Model M43 CD players acquired through various purchases as follows 34 Units beginning inventory 270 each 9180 60 Units first purchase 282 each 16920 88 Units second purchase 298 each 26224 182 Units 52324 5 You are given the following balance sheet and income statement for 2002 and 2003 1 current ratio current assets current liabilities 2 500 1 500 1 67 中国地质大学 北京 继续教育学院 2016 年 03 课程考 试 第 7 页 共 10 页 2 debt to equity ratio total liabilities total stockholders equity 2 500 3 300 75 76 3 quick ratio current assets inventories current liabilities 1 300 1 500 0 86 6 Translate the followings into Chinese 在实务中 会计有不同的分类 最通常的是财务会计和管理会计 其他领域包括成本会计 环境会计 税务会计 国际会计 非盈利会计和社会会计 7 Choose the best answer from A B C D to complete the sentence or to answer the question 1 C 2 C 3 B 8 Casey Electronics ending inventory consists of 182 Model M43 CD players acquired through various purchases as follows 164 Units 312 each 51168 18 Units 298 each 5364 182 Units 56532 9 On July 1 Cruz opened Cruz Auto Detail company 1 Record the transactions with Dr and Cr 1 Cash 70 000 L A Cruz Capital 70 000 2 Equipment 43 000 Cash 43 000 3 Equipment 7 000 Accounts Payable 7 000 4 Accounts Payable 2 000 Cash 2 000 5 Supplies 8 000 Accounts Payable 8 000 6 Cash 3 520 Income from Service 3 520 7 Rent Expense 900 Cash 900 8 Prepaid Insurance 360 Cash 360 9 Advertising Expense 400 Accounts Payable 400 10 Accounts Receivable 1 050 Income from Services 1 050 11 Accounts Payable 2 000 Cash 2 000 12 Utilities Expense 160 Cash 160 13 Accounts Payable 400 中国地质大学 北京 继续教育学院 2016 年 03 课程考 试 第 8 页 共 10 页 Cash 400 14 Wages Expense 1 400 Cash 1 400 15 Equipment 1 500 Cash 600 16 Cash 850 Accounts Receivable 850 17 Cash 2 700 Income from Service 2 70