会计英语期末总复习0001

1、文档来源为 :从网络收集整理.word 版本可编辑.欢迎下载支持会计英语单元题第一章Answer of these questions appears at the end of lesson cases.1. Which of the following statements is false?A.A. The partnership form of business organization protects the personal assets of the owners from creditors of the businessB. A proprietorship has a s

2、ingle ownerC. Accounting is the information system that measures business activities, processes that information into reports, and communicates the results to decision makersD. The FASB determines how accounting is practiced in the United States2. The primary objective of financial reporting is C_.A

3、. to present information in an ethical mannerB. to provide information to the federal governmentC. to provide information useful for investment and lending decisionsD. to provide information useful to managers in making daily decisions3. The principle or concept that holds that an entity will remain

4、 in operation for the foreseeable future is theA.A. going-concern conceptB. stable-monetary-unit conceptC. reliability principleD. cost principle4. Which of the following statements is true?_B.A. Revenues are assets because they represent economic benefitsB. Assets are economic resources that are ex

5、pected to benefit future periodss EquiC. The accounting equation can be stated as Assets +Liabilities =OwnerD. Liabilities are economic obligations to insiders5. Aftin Co. performed services on account. When Aftin collects the account receivable, B.A. assets increaseB. assets do not changeC. owner s

6、 equity decreasesD. liabilities decrease6. Which of the following transactions would not affect ower s equity?_AA. Payment of an account payableB. Payment of salary expenseC. Service provided on accountD. Withdrawal of cash by owner7. An income statement reports_D.A. The assets, liabilities, and own

7、er s equuiltayrodnaatepatticB. the change in the owner s capital during the periodC. the cash receipts and cash payments during the periodD. the difference between revenues and expenses during the period8. If assets increase $80000 during the period and owner's eqlBty000ecreasesduring the period

8、, liabilities must have BA. increased $64000B. increased $96000C. decreased $64000 D. decreased $960009 .The following information about the assetsand liabilities at the end of 20*1 and 20*2 is given below:20*120*2Assets$75000$90000Liabilities3600045000If net income was $15000 and there were no with

9、drawals, how much did the owner invest A .A. $ 4500B. $ 6000C. $ 45000D. $ 4350010 .The amount of net income shown on the income statement also appearson the C_.A. statement of financial positionB. balance sheetC. statement of owner ' s equityD. statement of cash flows弟早1. Which of these is (are

10、) an example of an asset account?CA. Service RevenueB. WithdrawalsC. SuppliesD. All of the above2. Traylor Company paid $ 2 850 on account. The effect of this transaction on the accounting equation is to _D.A. Decrease assets and decrease owner ' s equityB. Increase liabilities and decrease owne

11、r equity ' sC. Have no effect on total assetsD. Decrease assets and decrease liabilities3. Which of these statements is false? A .A. Increase in assets and increase in revenues are recorded with a debitB. Increase in liabilities and increasesin owner' equity are recorded with a creditC. Incr

12、ease in both assets and withdrawals are recorded with a debitD. Decreases in liabilities and increases in expenses are recorded with a debit4. Not Payable has a normal beginning balance of $ 30 000. During the period, new borrowings total $ 63 000 and the ending balance in Notes Payable is $ 41 000.

13、 Determine the payments on loans during the period. _B_.A. $ 74 000B. $ 52 000C. $ 134 000D. Cannot be determined from the information given5. Which of these statements is not correct? _C_.A. The account is a basic summary device used in accountingB. A business transaction is recorded first in the j

14、ournal and then posted to de ledgerC. The ledger is a chronological listing of all transactionsD. The debit entry is recorded first in a journal entry , then the credit entry6. Which of these accounts has a normal debit balance? _D_.A. Rent ExpenseB. WithdrawalsC. Service RevenueD. Both A and B have

15、 a normal debit balance7. The journal entry to record the collection of $ 890 from a customer on account is_B_.A. Accounts Payable890Cash890B. Cash890Account Receivable890C. Cash890Accounts Payable890D. Cash890Service Revenue8908. The ending Cash account balance is $ 57 600. During the period, cash

16、receipts equal $ 124 300. If the cash payments during the period total $ 135 100, then the beginning Cash amount must have _AA. $ 68 400B. $ 46 800C. $ 181 900D. Cannot be determined from the information given9. Use the following selected information for the Alecia Company to calculate the correct c

17、redit column total for a trial balance _C_.Accounts receivable$ 7 200Accounts payable6900Building179400Cash15800Capital64000Insurance expense6500Salary expense56100文档来源为：从网络收集整理.word版本可编辑.欢迎下载支持Salary payableService revenue3 600190 500A. $ 201 000B. $ 137 100C. $ 265 000D. $ 74 50010. Which of the f

18、ollowing statements is correct? D_A. The chart of accounts is a list of all accounts with their balancesB. The trial balance is a list of all accounts with their balances, divided as debitor creditC.D.The ledger is maintained in chart-of-accounts order Both B and C are correctATy 1 第三章1. When should

19、 revenue be recorded under the accrual-basis and cash-basis ofaccounting? D_Accrual-BasisCash-BasisA.When receivedB.When the service is performedC.When the customer is billedWhen the service is performedWhen the customer is billedWhen received2.3.4.D.When the service is performed When receivedDuring

20、 20*4, Bustamante Co. incurred salary expense of $240,000.Begining and ending Salary Payable was $4,000 and$ 8,000 , respectively. In20*4,Bustamante paid salaries of C_A.$ 248,000B.$ 240,000C.$ 236,000D.$244,000During 20*4, Bustamante received $ 600,000 for service revenue. Bustamante has not receiv

21、ed $ 30,000 for service already performed in 20*4, Bustamante also invested $ 20,000 into the business. Bustamante should report service revenue for 20*4 of DA.$ 550,000B.$570,000C.$580,000D.$630,000Recording an expense when it is paid instead of when incurred is a violation ofCA.The matching princi

22、pleB.The time period conceptC.The reliability conceptD.The revenue principle5. On July 31, $3,600 is paid for a one-year insurance policy. On December 31,the adjusting entry for prepaid insurance would include C_A.a debit to Insurance Expense, $ 3,600B.a credit to Prepaid Insurance, $ 3,600C.a debit

23、 to Insurance Expense, $ 1,500D.a credit to Prepaid Insurance, $ 1,5006. Failure to record an adjusting entry for an accrued expense, will result in the following BLiabilitiesNet IncomeA. no effectunderstateB. understateoverstateC. overstateunderstateD. understateno effect7. An adjusting entry could

24、 contain all of the following except BA. a debit to Unearned RevenueB. a credit to CashC. a debit to Interest ReceivableD. a credit to Salary Payable8. The 20*3 income statement showed Rend Expense of $ 6,100. The related balance sheet account, Prepaid Rent, had a beginning balance of $ 1,400 and a

25、ending balance of $ 1,200. The amount of cash paid for rent during 20*3 is (D )A. $ 6,100B. $ 1,200C. $ 6,300D. $ 5,900Exhibit 3-2Lemon Car Rental Trial BalanceDecember 31,20x4AccountDebitCreditCash$7,450Prepaid insurance1,600Equipment19,000Accumulated depreciation$4,200Accounts payable5,000Lemon ,

26、capital15,600Withdrawals6,000Rental revenue23,400Insurance expense7,000Salary expense4,000Repair expense3,150Total$48 200$48 200Adjusting entries include(1)Prepaid insurance used1,600(2)Depreciation1,3002 9009. Refer to Exhibit 3-2. The credit column of the adjusted trial balance should total _C_A.

27、$ 45,300B. $ 49,300C. $ 49,500D. $ 51,10010. Refer to Exhibit 3-2.Assume the net income is $ 8,000. The ending balance of Lemon, Capital should be _A_A. $ 17,600B. $ 15,600C $ 13,600D. $ 2,000第四章1.which of the following statements best describes the purpose of internal control _CA. To provide assura

28、nce that the entire business operates in accordance withmanagementpslaannd policiesB To prevent fraudC. To ensure that expenses and cash outlays are held to a minimumD. To provide adequate subdivision of duties within the organizationThe Data Co. has asked you to assist in the preparation of a bank

29、reconciliation at the end of July. Answer questions 2-4 using the following code letters to indicate how the item described would be reported on the bank reconciliation.a. Add to the book balanceb. Add to the bank balancec. Deduct from the bank balanced. Deduct from the book balancee. Dose not belon

30、g to the bank reconciliation2. Note and interest collected by the bank of the company ,$500(plus $25 interest).A_3. Deposit in transit ,$400_B_4. Check No.662 for which should have been written for $730 was incorrectly recorded by the bank as $370.C_.5. If a bank reconciliation include an NSF check

31、for $45, the journal entry to record this reconciliation item would include A.A.credit to CashB.debit to CashC.credit to Accounts ReceivableD.no entry is required6. All of the following are controls over cash received in a store except C_.A. the clerk should have access to the cash register tape to

32、make corrections when necessaryB. the customer should be able to see the amounts entered into the registerC it should be a requirement that a receipt be given to the customerD. the cash drawer should open only when the sale clerk enters an amount on the keys7. Which of the following statements relat

33、ed to receivables is true ?CA. On the balance sheet , accounts receivable are usually reported as total accounts receivable plus the allowance for uncollectible accountsB A dishonored notes receivable should be shown as a current liabilityC. When a notes receivable is not paid at maturity, the princ

34、ipal plus any interest due should be charged back to the customer ' s accounts receivableD When a customer overpays his accounts receivable ,the resulting balance should be properly shown among the long-term (noncurrent) assets on the balance sheet8. Cox Company began the month of July with a ba

35、lance in Accounts Receivable of $51600.During July , Cox reported cash sales of $50000, credit sales on account of $228000, collections from customers on account , $201400 , and write-offs of $750.Uncollectibe-Account expense for July was estimated to be 1% of credit sales . The balance in Account R

36、eceivable on July 31 is A .A. $ 77450B $ 75170C. $ 75920D $ 80550Exhibit 4-1Carrington Crop. reported the following selected data for 20*1Accounts receivable (1/1)35000Inventory (1/1)67000Accountsreceivable(12/31)28000 (12/31)Inventory68100Net sales310250Prepaid expenses300Cash27500 liabilitiesCurre

37、nt973009. Refer to Exhibit 4- 1. Compute days salereceivable ( 365 / net sales / average accounts receivable ).D.A. 41 daysB. 11 daysC. 33 daysD. 37 days10. Refer to Exhibit 4-1. Compute the acid-test ratio B.A. 0.31B 0.57C. 0.13D. 0.27/WE弟五早1 . The weighted average for the year inventory cost flow

38、methostd is applicable to which of the following inventory systems?B.PeriodicPerpertualA.YesYesB.YesNoC.NoYesD.NoNo2 .The LIFO inventory cost flow method may be applied to which of the following inventory systems? _C.PeriodicPerpertualA.NoNoB.NoYesC.YesYesD.YesNo3 .Crow Company bagan a year and purc

39、hased merchandise as follows:Jan.1 Beginning inventoryFeb.4 PurchasedMay.12 PurchasedAug.9 PurchasedNov.23 Purchased40 units $ 17.0080 units $ 16.0080 units $ 16.5060 units $ 17.50100 units $ 18.00The company uses a periodic inventory system and the ending inventory consists of 60 units ,20 from eac

40、h of the last three purchases. Determine the ending inventory assuming costs are assigned on a weighted-average basis. _DA.$1000.00C.$1040.00C.$1080.00D.$1022.004 .A Company uses a periodic inventory system and made an error at the end of year I that caused its year I ending inventory to be understa

41、ted by $ 5000.What effect doesthis error have on the companys financial statements? AA.Net income is understated;assets are understatedB.Net income is understated;assets are overstatedC.Net income is overstated;assets are understatedD.Net income is overstated;assets are overstated5 .ABC Company esti

42、mates the cost of its physical on June 30,20*2 for use in an interim financial statement.The rate of markup on cost is 25%.The following account balances are available:Inventory,March 31,20*2$150000Purchases86000Purchases returns4000Sales during the second quarter of 20*2190000The estimate of the co

43、st of the inventory on June 30 would be _CA.$80000B.$88000C.$89500文档来源为 :从网络收集整理.word 版本可编辑.欢迎下载支持D.$1845006 .Which of the following factors would not be considered in the selection of LIFO as an inventory costing method? _C.A.Tax benbefitsB.MatchingC.Physical flowD.Improved cash flow7 .Which of the

44、 following methods of inventory valuation is allowable at interim dates but not at year-eng? _BA.Weighted average8 .Estimated gross profit ratesC.Retail methodD.Specific identication8 .Dart Company s accounting records indicated the following information: Inventory,1/ 1/20*2$ 500000Purchases during

45、20*22500000Sales during 20*23200000A physical inventory taken on December 31,20*2,resulted in an ending inventory of $ 575000.Dart grsoss profit on sales has remained constant at 25% in recent years.Dart suspectssome inventory may have been taken by a new employee.At December 31,20*2,what is the est

46、imated cost of missing inventory? _AA.$ 25000B.$ 100000C.$ 175000D.$ 2250009 .Which of the following is not affected by the inventory valuation method used by a business? _CA.Amounts owed for income taxesB.Cost of merchandise soldC.Amounts paid to acquire merchandiseD.Net income of the business10 .U

47、nder the retail inventory method,freight-in would be included in the calculation of the goods available for sale for which of the following? _CCostRetailA.NoNoB.NoYesC.YesNoD.YesYes会计英语业务题1. The following selected transactions were completed by Castell Delivery SeeviceduringNovember :(1) Received ca

48、sh from owner as additional investment , $20 000(2) Paid advertising expense , $ 520(3) Purchased supplies of gas and oil for cash $ 780(4) Received cash from cash customers , $ 1 500(5) Charged customers for delivery services on account , $ 2 100(6) Paid creditors on account , $ 470(7) Paid rent fo

49、r November , $ 1 000(8) Received cash from customers on account , $ 1 810(9) Paid cash to owner for personal use , $ 900(10) Determined by taking an inventory that $ 650 of supplies of gas and oil had been used during the monthIndicate the effect of each transactions on the accounting equation by li

50、sting the numbers identifying the transactions , (1) through (10) ,in a vertical column , and inserting at the right of each number the appropriate letter from the following list : (a) Increase in one asset , decrease in another asset(11) Increase in an asset , increase in a liability(12) Increase i

51、n an asset , increase in capital(13) Decrease in an asset , decrease in a liability(14) Decrease in an asset , decrease in capital2. Prepare the following columnar form . Then enter the word debit or credit in eachof the last three columns to indicate the action necessary to increase the account , t

52、o indicate the action necessary to decrease the account , and to show the normal balance of the account .Kind of AccountIncreaseDecreaseNormal BalanceAssetLiabilityOwner's capitalOwner's withdrawalsRevenueExpense3. Ora Company" s two employees each earn $ 90 per day for a four day week

53、that begains on Monday and ends on Thursday . They were paid for the week ended Thursday , December 27 and both worked a full day on Monday , December 31 . January 1 of the next year was an unpaid holiday ,but the employees all worked on Wednesday and Thursday , Journalize the year-end adjusting ent

54、ry to record the accrued wages and the entry to pay the employees on January 3 .4. Botello Company began operations on January 1,202. During the next two years , the company completed a number of transactions involving credit sales, accounts receivable collections ,and bad debts. These transactions

55、are summarized as follows :20 >2a . Sold merchandise on credit for $54 500, terms n/60.b. Wrote off uncollectible accounts receivable in the amount of $850.c. Received cash of $45100 in payment of outstanding accounts receivable.d. In adjusting the accounts on December 31 , concluded that 2% of the outstanding accounts receivable would become uncollecti