会计英语课后习题及参考答案
Suggested Solution
Chapter 1
3.
4.
5.
(b) net income = 9,260-7,470=1,790
(c) net income = 1,790+2,500=4,290
Chapter 2
1.
a.To increase Notes Payable -CR
b.To decrease Accounts Receivable-CR
c.To increase Owner, Capital -CR
d.To decrease Unearned Fees -DR
e.To decrease Prepaid Insurance -CR
f.To decrease Cash - CR
g.To increase Utilities Expense -DR
h.To increase Fees Earned -CR
i.To increase Store Equipment -DR
j.To increase Owner, Withdrawal -DR
2.
a.
Cash 1,800
Accounts payable ................................................... 1,800 b.
Revenue ................................................................... 4,500
Accounts receivable ...................................... 4,500
c.
Owner’s withdrawals ................................................ 1,500
Salaries Expense ............................................ 1,500 d.
Accounts Receivable (750)
Revenue (750)
3.
Prepare adjusting journal entries at December 31, the end of the year.
Advertising expense 600
Prepaid advertising 600
Insurance expense (2160/12*2) 360
Prepaid insurance 360
Unearned revenue 2,100
Service revenue 2,100
Consultant expense 900
Prepaid consultant 900
Unearned revenue 3,000
Service revenue 3,000 4.
1. $388,400
2. $22,520
3. $366,600
4. $21,800
5.
1. net loss for the year ended June 30, 2002: $60,000
2. DR Jon Nissen, Capital 60,000
CR income summary 60,000
3. post-closing balance in Jon Nissen, Capital at June 30, 2002: $54,000
Chapter 3
1. Dundee Realty bank reconciliation
October 31, 2009
Reconciled balance $6,220 Reconciled balance $6,220
2. April 7 Dr: Notes receivable—A company 5400
Cr: Accounts receivable—A company 5400
12 Dr: Cash 5394.5
Interest expense 5.5
Cr: Notes receivable 5400
June 6 Dr: Accounts receivable—A company 5533
Cr: Cash 5533
18 Dr: Cash 5560.7
Cr: Accounts receivable—A company 5533
Interest revenue 27.7
3. (a) As a whole: the ending inventory=685
(b) applied separately to each product: the ending inventory=625
4. The cost of goods available for sale=ending inventory + the cost of goods=80,000+200,000*500%=80,000+1,000,000=1,080,000
5.(1) 24,000+60,000-90,000*0.8=12000
(2) (60,000+24,000)/( 85,000+31,000)*( 85,000+31,000-90,000)=18828
Chapter 4
1. (a) second-year depreciation = (114,000 – 5,700) / 5 = 21,660;
(b) second-year depreciation = 8,600 * (114,000 – 5,700) / 36,100 = 25,800;
(c) first-year depreciation = 114,000 * 40% = 45,600
second-year depreciation = (114,000 – 45,600) * 40% = 27,360;
(d) second-year depreciation = (114,000 – 5,700) * 4/15 = 28,880.
2. (a) weighted-average accumulated expenditures (2008) = 75,000 * 12/12 + 84,000 * 9/12 + 180,000 * 8/12 + 300,000 * 7/12 + 100,000 * 6/12 = 483,000
(b) interest capitalized during 2008 = 60,000 * 12% + ( 483,000 –60,000) * 10% =49,500
3. (1) depreciation expense = 30,000
(2) book value = 600,000 – 30,000 * 2=540,000
(3) depreciation expense = ( 600,000 – 30,000 * 8)/16 =22,500
(4) book value = 600,000 – 30,000 * 8 – 22,500 = 337,500
4. Situation 1:
Jan 1st, 2008 Investment in M 260,000
Cash 260,000
June 30 Cash 6000
Dividend revenue 6000
Situation 2:
January 1, 2008 Investment in S 81,000
Cash 81,000
June 15 Cash 10,800
Investment in S 10,800
December 31 Investment in S 25,500
Investment Revenue 25,500
5. a. December 31, 2008 Investment in K 1,200,000
Cash 1,200,000
June 30, 2009 Dividend Receivable 42,500
Dividend Revenue 42,500
December 31, 2009 Cash 42,500
Dividend Receivable 42,500
b. December 31, 2008 Investment in K 1,200,000
Cash 1,200,000 December 31, 2009 Cash 42,500
Investment in K 42,500
Investment in K 146,000
Investment revenue 146,000 c. In a, the investment amount is 1,200,000
net income reposed is 42,500
In b, the investment amount is 1,303,500
Net income reposed is 146,000
Chapter 5
1.
a. June 1: Dr: Inventory 198,000
Cr: Accounts Payable 198,000 June 11: Dr: Accounts Payable 198,000
Cr: Notes Payable 198,000 June 12: Dr: Cash 300,000
Cr: Notes Payable 300,000
b. Dr: Interest Expenses (for notes on June 11) 12,100
Cr: Interest Payable 12,100
Dr: Interest Expenses (for notes on June 12) 8,175
Cr: Interest Payable 8,175
c. Balance sheet presentation:
Notes Payable 498,000 Accrued Interest on Notes Payable 20,275
d. For Green:
Dr: Notes Payable 198,000 Interest Payable 12,100
Interest Expense 7,700
Cr: Cash 217,800
For Western:
Dr: Notes Payable 300,000
Interest Payable 8,175
Interest Expense 18,825
Cr: Cash 327,000
2.
(1) 20?8 Deferred income tax is a liability 2,400
Income tax payable 21,600 20?9 Deferred income tax is an asset 600
Income tax payable 26,100
(2) 20?8: Dr: Tax expense 24,000
Cr: Income tax payable 21,600 Deferred income tax 2,400 20?9: Dr: Tax expense 25,500
Deferred income tax 600
Cr: Income tax payable 26,100 (3) 20?8: Income statement: tax expense 24,000
Balance sheet: income tax payable 21,600 20?9: Income statement: tax expense 25,500 Balance sheet: income tax payable 26,100
3.
a. 1,560,000 (20000000*12 %* (1-35%))
b. 7.8% (20000000*12 %* (1-35%)/20000000)
5.
Notes Payable 14,400 Interest Payable 1,296 Accounts Payable 60,000 +Unearned Rent Revenue 7,200 Current Liabilities 82,896
Chapter 6
1. Mar. 1
Cash 1,200,000
Common Stock 1,000,000
Paid-in Capital in Excess of Par Value 200,000
Mar. 15
Organization Expense 50,000
Common Stock 50,000
Mar. 23
Patent 120,000
Common Stock 100,000
Paid-in Capital in Excess of Par Value 20,000
The value of the patent is not easily determinable, so use the issue price of $12 per share on March 1 which is the issuing price of common stock.
2. July.1
Treasury Stock 180,000
Cash 180,000
The cost of treasury purchased is 180,000/30,000=60 per share.
Nov. 1
Cash 70,000
Treasury Stock 60,000
Paid-in Capital from Treasury Stock 10,000
Sell the treasury at the cost of $60 per share, and selling price is $70 per share. The treasury stock is sold above the cost.
Dec. 20
Cash 75,000
Paid-in Capital from Treasury Stock 15,000
Treasury Stock 90,000
The cost of treasury is $60 per share while the selling price is $50 which is lower than the cost.
3. a. July 1
Retained Earnings 24,000
Dividends Payable—Preferred Stock 24,000
b.Sept.1
Dividends Payable—Preferred Stock 24,000
Cash 24,000
c. Dec.1
Retained Earnings 80,000
Dividends Payable—Common Stock 80,000
d. Dec.31
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Suggested Solution Chapter 1 3. 4.
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会计专业英语期末试题期期末测试题 Ⅰ、Translate The Following Terms Into Chinese. 1.entity concept主题概念 2.depreciation折旧 3.double entry system 4.inventories 5.stable monetary unit 6.opening balance 7.current asset8.financial report 9.prepaid expense10.internal control 11.cash flow statement12.cash basis 13.tangible fixed asset14.managerial accounting 15.current liability16.internal control 17.sales return and allowance18.financial position 19.balance sheet20.direct write-off method Ⅱ、Translate The Following Sentences Into Chinese. 1.Accounting is often described as an information system. It is the system that measures business activities, processes into reports and communicates these findings to decision makers. 2.The primary users of financial information are investors and creditors.Secondary users include the
《会计专业英语》期末试题(A卷)答案
2001会计专业英语试题答案 1. (1) Journal entry—A chronological record of transactions, showing for each transaction the debits and credits to be entered in specific ledger accounts. (2) Going concern ——An assumption that a business entity will continue in operation indefinitely and thus will carry out its existing commitments. (3) Matching principle——The revenue earned druing an accounting period is offset with the expenses incurred in generating this revenue. (4) Working capital——Current assets minus current liabilities (5) Revenue expenditure——Any expenditure that will benefit only the current accounting period. 2. 每空1分，其中两个debit合计1分 (1) (two). (debit). (debit). (equal). (2) (adjusting). (assign). (end). (prior) (3) (liquid). (that). (at) 3.题一10分，第一小段6分，第二小段4分。题二8分 (1) Financial statements show the financial position of a business and the results of its operations, presented in conformity with generally accepted accounting principles. These statements are intended for use by many different decision makers, for many different purposes. Tax returns show the computation of taxable income, legal concept by tax laws and regulations. In many cases, tax laws are similar to generally accepted accounting principles, but substantial differences do exist. (2) Auditors do not guarantee the accuracy of financial statements; they express only their expert opinion as to the fairness of the statements. However, CPA firms stake their reputations on the thoroughness of their audits and the dependability of their audit reports. 4.每小题6分，每小题包括三小句，每小句2分。 (1) 会计原则不象自然法则，从性质上来说不是等待人们去发现，而是我们考虑财务报告 的最重要目标后据此由人制定的。在很多方面公认会计准则类似于为有组织的体育比赛， 如足球或篮球比赛制定的比赛规则。 (2) 会计师制定了一些会计程序，据此将现金收支分配于一定期间，以某种方式确定出收 益，该收益代表这个企业特定期间的经济成果。收益概念应用于现实生活涉及许多的抉择 和判断。 5.每小题选对1分 （1）C，（2）A，（3）B，（4）C，（5）C，（6）A，（7）C，（8）C，（9）B，（10）B 6.（1）全对4分，（2）全对5分，（3）全对6分 (1) Debit: cash Credit: Bonds payable Premium on bonds payable 36000 (2) Debit: Interest Expenses 28302 Premium on bonds payable 198 Credit: Cash 28500 (3) Debit: Interest Expenses 14137 Premium on bonds payable 113 Credit: Interest payable 14250 7.共6个调整数据，做对一个2分，合计数对2分，计14分。 Cash flows from operating activities: Net income …………………………………………………………… $ Adjustment for non cash revenue and expenses: Added (less): depreciation ………………………..$90000 Loss on sale of machine ry ………..$2400 Patent amortization ……………...$14800 Amortization of premium on bond ….($4600) $ Working capital changes: Accounts receivable increase ……..($2000) Accounts payable increase …………$8400 $6400 Cash flows from operating activities ………………………………$ 8.项目1和项目3正确表述各4分，项目2正确表述3分。 Item 1: This item is a prepaid expenses and not properly recorded. Half of this expenses should be charged to the