会计学原理复习

2. The accounting guideline that requires financial statement information to be supported by independent, unbiased evidence other than someone's belief or opinion is the:

A. Business entity principle.

B. Monetary unit principle.

C. Going-concern principle.

D. Cost principle.

E. Objectivity principle.

7. The following transactions occurred during July: B

1) Received $900 cash for services provided to

a customer during July.

2) Received $2,200 cash investment from Barbara Hanson, the owner of the business. 3) Received $750 from a customer in partial payment of his account receivable which arose from sales

in June.

4) Provided services to a customer on credit, $375.

5) Borrowed $6,000 from the bank by signing a promissory note.

6) Received $1,250 cash from a customer for services to be rendered next year.

What was the amount of revenue for July? A. $ 900. B. $ 1,275. C. $ 2,525. D. $ 3,275. E. $11,100.

Each adjusting entry affects one or more income statement accounts and one or more balance sheet account (but never the cash account)

14. The usual order for the asset section of

a classified balance sheet is:

Current assets, long-term investments, plant assets, intangible assets.

16. Which of the following inventory costing methods will always result in the same values for ending

inventory and cost of goods sold regardless of whether a perpetual or periodic inventory system is used?

A. FIFO and LIFO

B. LIFO and weighted-average cost

C. Specific identification and FIFO

D. FIFO and weighted-average cost

E. LIFO and specific identification

9. Account time periods that are one year in length are referred to as interim periods.(F) Reports covering a one-year period are known as annual financial statements. Interim financial statement covering one, three, or six months of avtivity.

18. The responsibility for ordering, receiving, and paying for merchandise should be assigned to different individuals. (T)

20. The sales returns and allowances account and the sales discount account are both classified as expense accounts (F)

Sales discounts account 在中国记为Financial expense 在美国记为contra-A/C(资产的备抵账户)

22. A company’s unadjusted balance in inventory will usually not agree with the actual amount of inventory on hand at year-end. (T)

25. The specific identification method of inventory valuation is desirable when a company sells a large number of low-unit cost items. (F)

27. An account receivable subsidiary ledger has all the detailed information about the cash sales to individual customers. (F)

30. Each general ledger control account balance must equal the composite balance of the individual accounts in the related subsidiary ledger at the end of an accounting period. (T)

CD

In which journal would a cash purchase of

Sales of inventory for cash are not recorded in a sales journal but in a cash receipts journal. Sales of inventory assets on credit are recorded in the general journal.

Cash receipts journal

1)C ash from credit customers in payment of their accounts.

2)C ash from cash sales

Chapter 9 Accounting for Receivables

Uncollectible accounts——Bad debts Direct write-off method

1)M atching principle applied to bad debts Allowance method

收入

Percent of sales method

Percent of receivables method

Chapter 13 Investments and international operations Companies make investments for at least

短期内不准备转换为现金的证券投资。包括债券偿债基金，土地投资或者其他不用于企业经营的资产投资。

证券投资

Debt Securities: Accounting Basics债权证券

Acquisition

Dr: Long-Term Investments—HTM 30,000 Cr: Cash 30,000 Interest earned

Dr: interest receivable 700 Cr: interest revenue 700 Dr: Cash 1050 Cr: interest receivable 700

Interest revenue 350 Equity Securities: Accounting Basics权益证券

Acquisition: Equity securities are recorded at cost when acquired, including commissions or brokerage fees paid.

Acquisition

Dr: Long-term investments 86,000 Cr: cash 86,000 Dividend earned

Dr: cash 1,720 Cr: dividend revenue 1,720

Disposition

Dr: cash 45,000

Dr: FV adjustment—AFS 20 Cr: UG—Equity 20

负债表的权益部分综合收益项下

The Equity method of accounting and reporting is used for long-term investments in equity securities with significant influence

Dr: Long-term investments—star 70,650 Cr: cash 70,650 To record purchase of 3000 star shares.

Dr: Long-term investments—star 6,000 Cr: Earnings from LTI 6,000 To record 30% equity in investee earnings.

Dr: cash 3,000 Cr: LTI—Star 3,000 To record share of dividend paid by Star.

Dr: cash 80,000 Cr: LTI—Star 73,650 Gain on sale of investment 6,350

Consolidated financial statements show the financial position, results of operations, and cash flows of all entities under the parent’s control.

证券投资的会计核算

证券投资类型会计核算方法

短期投资

Held-to-maturity(debt) Cost (无任何折价或溢价摊销) Trading (debt and equity)Fair value (收益的市场调整) Available-for-sale

(debt and equity)

Fair value (权益的市场调整)

长期投资

Held-to-maturity(debt) Cost (存在折价或溢价摊销) AFS (Debt and equity) Fair value

(收益的市场调整)

具有重大影响的长期

股权投资

权益法

具有控制权的长期股权投资权益法（合并财务报表）

Comprehensive income(综合收益)