客观性一词指进行计量时要无偏见并且能经受独立专家的

1、CAPITAL UNIVERSITY OF ECONOMICS AND BUSINESSEXAMINGATION OF ACCOUNTING (BACHELOR DEGREE 14)SCHOOL OF ACCOUNTINGDate: Class: Name Marks: I. Matching (10 marks):Listed below are technical terms in accounting. a. Trial balanceb. special journalc. P/e ratiod. Dividendse. Publicly owned corporationf. Flo

2、w assumptiong. Liabilitiesh. General partnersi. Retained earnings j. Double taxationEach of the following statements may describe one of these technical terms. For each statement, indicate the term described.1. Obligations of an entity arising from past transactions.2. A device that proves the equal

3、ity of debits and credits posted to the ledger.3. A pattern of transferring unit costs from the inventory account to the cost of goods sold account which may or may not parallel the physical flow of merchandise.4. A major disadvantages of the corporate form of organization.5. A corporation whose sha

4、res are traded on an organized stock exchange.6. The element of stockholders equity which is reduced by dividends.7. A journal used to recording unusual types of transactions.8.A measure of investors expectations of the future profitability of a business.9.The owners with managerial authority in a l

5、imited partnership.10. Distribution of assets to the owners of a corporation.I. Indicate true or false of the following sentences, use T for true F for false (10 points).1. A Statement of Cash Flow is a financial statement showing the financial position of a business entity at a specific date.2. A t

6、ransaction which increases total assets must decrease either total liabilities and owner's equity.3. A business document which might be issued to conceal the theft of cash collected from a credit customer is called a credit memorandum.4. The concept of materiality does not permit accountants to

7、ignore other generally accepted accounting principles in certain situations.5. Posting is a process of transferring debit and credit changes in account balances from ledger to the journal.6. The primary purpose of using a cost flow assumption is to: offset against revenue an appropriate cost of good

8、s sold.7. A limited personal partnership is a kind of partnership which has one or more limited partners, as well as one or more general partners.8. Under the direct write off method of accounting for uncollectible accounts, accounts receivable are not stated in the balance sheet at net realizable v

9、alue, but at the balance of the Accounts Receivable ledger account.9. The unused portion of a line of credit is neither an asset nor a liability; it is represents only the ability to borrow money more quickly and easily.10. Unearned revenue ordinarily is classified as current liability, as the activ

10、ities involved in earning revenue are part of the business's normal operating cycle.III. Translate the following sentence into Chinese (30 marks)1. An error in the cost assigned to ending inventory will cause an opposite error in the cost of goods sold and a repetition of the original error in t

11、he amount of gross profit. The error has exactly the opposite effects upon the cost of goods sold and the gross profit of the following year, because the error is now in the cost assigned to beginning inventory. 2. The major steps in achieving internal control over cash balances include:1) Separate

12、the function of handling cash from the maintenance of accounting records.2) Prepare for each department within the organization a cash budget of planned cash receipts, cash payments, and cash balances, scheduled month-by-month for the coming year. 3) Prepare a control listing of cash receipts at the

13、 time and place the money is received.4) Make all payments by check, but small payments should be made in cash from a petty cash fund.IV. Transactions (30 marks)Alta Sequoia Resort adjusts its accounts monthly and closes its accounts annually. Most guests of the resort pay at the time they check out

14、, and the amounts collected are credited to Rental Revenue. A few guests pay in advance for rooms, and these amounts are credited to Unearned Revenue at the time of receipt. The following information is available as a source for preparing adjusting entries at December 31. a. Salaries earned by emplo

15、yees but not yet recorded or paid amount to $7900. b. As of December 31, Alta Sequoia has earned $11075 rental revenue from current guests who will not be billed until they are ready to check out. (Debit Rent Receivable.)c. On November 1, a suite of rooms was rented to a corporation for 6 months at

16、a monthly rental $3200. The entire six months rent of $19200 was collected in advance and credited to Unearned Rental Revenue.d. A limousine t carry guests to and from the airport had been rented beginning December 19 from Transport Rentals, Inc., at a daily rate of $120. No rental payment has yet b

17、een made. (The limousine has been rented for 13 days in December.)e. A six-month loan in the amount of $30000 had been obtained on December 1. Interest is to be computed at a rate of 10% per year and is payable when the loan is due. No interest has been paid and no interest expense has been recorded

18、. f. Depreciation on resort buildings is based upon an estimated useful life of 30 years. The original cost of the buildings was $1755000. Alta Sequoia uses the straight-line method.g. In December, Alta Sequoia Resort entered into an agreement to host the annual symposium of ACE (Americans for Clean

19、 Environment) in April of next year. The resort expects to earn rental revenue of at least $45000.h. A one-year fire insurance policy had been purchased on September 1。 The premium of $7200 for the entire life of the policy had been paid on September 1 and recorded as Unexpired Insurance.Instruction

20、: For each of the above lettered paragraphs, draft a separate adjusting entry if the Information indicates that an adjusting entry is needed. One or more of the above paragraphs may not require any adjusting entry.V. The ledger account balances of April Stein, M.D. are as follows:Debit CreditCash195

21、0Accounts receivable2935Notes payable8000April Stein, capital12000April Stein, drawing975Fees earned 6060Accounts payable640Medical instruments9000Office equipment7200Accounts payable640Medical supplies expense 640Rent expense1700Salaries expense2000Utilities expense3001. Please prepare the trial ba

22、lance in the proper order. 2. Prepare adjusting entries to record depreciation for the month of May and post to ledger accounts. (For medical instruments, cost $9000÷3 years × 1/12. For office equipment, cost $7200÷5 years × 1/12.)3. Prepare an adjusted trial balance. 4. Prepare

23、an income statement and a balance sheet.VI. A recent balance sheet of Tootsie Roll Industries included the following items, among others. (Dollar amounts are listed in thousands.)Cash and cash equivalents995Investments (in marketable securities)87947Accounts receivable12889Inventories24845Prepaid ex

24、penses2989Retained earnings90285Notes payable to banks (due within one year)253Accounts payable4674Dividends payable791Accrued liabilities (short-term)13661Income taxes payable3119Postretirement care and life insurance benefits (a long-term liability)3976The company also reported total assets of $22

25、2478, total liabilities of $40774, and a return on assets of 23.6%.Instructions:a. Compute Tootsie Rolls 1) quick assets, 2) current assets3) current liabilitiesb. 1) quick ratio,2) current ratio,3) debt ratio. Round to one decimal place. (12 marks)CAPITAL UNIVERSITY OF ECONOMICS AND BUSINESSEXAMING

26、ATION OF ACCOUNTING (BACHELOR DEGREE 14)SCHOOL OF ACCOUNTINGDate: Class: Name Marks: Summary of Marks IIIIIIIVVVIVIIVIIIIXXAnswers Sheet for Exam (14)I. (10 marks)12345678910II.(10 marks)12345678910III. (30 marks)1. (10 marks) 2. (20 marks)IV. (15 marks)aDec. 31bDec. 31cDec. 31dDec. 31eDec. 31fDec.

27、31gDec. 31hDec. 31V. (23 marks)a. (4 marks)Dr. Cr. Dr. Cr. (6 marks)April Stein, M.D.Adjusted Trial BalanceMay 31, 19_CashAccounts receivableMedical instrumentsAccumulated depreciation: Medical instrumentsOffice equipmentAccumulated depreciation: Office equipmentNotes payableAccounts payableApril St

28、ein, capitalApril Stein, drawingFees earned Medical supplies expense Rent expenseDepreciation expense: Medical instrumentsDepreciation expense: Office equipmentSalaries expenseUtilities expenseTotal(6 marks)Income StatementFor the Month Ended May 31, 19_Revenue: Fees earnedExpenses: Medical supplies

29、 expense Rent expense Salaries expense Utilities expense Depreciation expense: Medical instruments Depreciation expense: Office equipmentNet income(7 marks)April Stein, M.D.Balance Sheet May 31, 19_AssetsLiabilities & Owners EquityCashLiabilities:Accounts receivableNotes payableMedical instrumen

30、tsAccounts payableAccu. depr: Medical instrumentsOffice equipmentOwners equity:Accu. Depr: Office equipmentApril Stein, capitalTotal TotalVI. (12 marks)Quick assets =Current assets =Current liabilities =Quick ratio =Current ratio =Debt ratio =CAPITAL UNIVERSITY OF ECONOMICS AND BUSINESSEXAMINGATION

31、OF ACCOUNTING (BACHELOR DEGREE 14)SCHOOL OF ACCOUNTINGDate: Class: Name Marks: Summary of Marks IIIIIIIVVVIVIIVIIIIXXAnswers Sheet for Exam (14)I. (10 marks)12345678910gafjeibchdII.(10 marks)12345678910FTTFFTFFTTIII. (30 marks)1. (10 marks) 客观性一词指进行计量时要无偏见并且能经受独立专家的验证。尽管客观性原则的目标，仍不可能将会计信息与意见和个人判断相隔绝

32、。会计中的客观性源于对可靠性的追求。在对可靠性和相关性之间进行权衡时，界限划在哪，是会计理论中的难题之一。2. (20 marks)对现金余额实现内部控制的步骤为：1) 将管理现金和维护会计记录的职能分开。2) 下一年按月份为组织内部的每一个部门编制计划现金收入、现金支出、和现金余额的现金预算.3) 按照资金收到的时间和地点编制现金收入控制清单。4) 签发支票进行所有的支出，但是小额付款应从零用金基金以现金的形式支付。IV. (15 marks)aDec. 31Salaries Expense7900 Salaries Payable7900bDec. 31Rent Receivable110

33、75 Rental Revenue11075cDec. 31Unearned Rental Revenue3200 Rental Revenue3200dDec. 31Rental Expense1560 Rentals Payable1560eDec. 31Interest Expense2500 Interest Payable2500fDec. 31Depreciation expense: Building4875 Accumulated Depreciation: Building4875gDec. 31No entry neededhDec. 31Insurance Expense

34、600 Un-expired Insurance600V. (23 marks)a. (4 marks)Dr. Depreciation Expense: Medical instruments 250Cr. Accumulated Depreciation: Medical instruments 250Dr. Depreciation Expense: Office equipment 120 Cr. Accumulated Depreciation: Office equipment 120(6 marks)April Stein, M.D.Adjusted Trial BalanceMay 31, 19_Cash1950Accounts receivable2935Medical instruments9000Accumulated depreciation: Medical instruments250Office equipment7200Accumulated depreciation: Office equipment120Notes payable8000Accounts payable64