会计循环习题答案

第六章会计循环中答案

第六章会计循环（中）试算平衡与账项调整一.名词解释1.收支期，是指收入和费用实际收到和支付的会计期间。

2.归属期，是指应获得收入和应负担费用的会计期间。

3.收付实现制也叫现金制、实收实付制，它以收入费用的收支期为标准确定本期的收入费用，也就是以款项的实际收付为标准。

4.权责发生制又叫应计制、应收应付制，它以收入费用的归属期为标准来确定本期的收入费用，也就是以应收应付为标准。

5. 实地盘存，又叫定期盘存或实物盘存。

这种方法下，其账面平时只记收入，不记发出；期末通过对库存品的实地盘点来确定存货数量，进而推算出存货成本和发货成本。

6.应收收入是指本期已经实现但尚未收到实际款项且尚未入账的收入，其归属期在前，收支期在后。

7.预收收入是指前期预收而后期实现的收入，其收支期在前，归属期在后。

企业向客户提供商品或劳务之前，就已经收到现款的收入就是预收收入。

8.应付费用是指应由本期负担但本期尚未实际支付且尚未入账的费用，其归属期在前，支付期在后。

9.永续盘存，又叫账面盘存。

这种方法下，要按照库存品的品种规格在原有的总分类账户基础上再逐一设置明细账户，逐日逐笔登记收、发、存的数量。

耗用和销售的成本根据需要，可以随时结转，也可以月底结转。

二.判断题三.单项选择题四.多项选择题5、6、7、8是单选五.业务题练习一1. 收付实现制：收入：6000+5200+9000=20200费用：2400+2500=9900利润：20200－4900=153002. 权责发生制：收入：6000+9000=15000费用：2500利润：15000－2500=12500练习二1. 收付实现制：收入：50000+1000=51000费用：800+2100+1200=4100利润：51000－4100=469002. 权责发生制：收入：80000+21000=101000费用：200+200=400利润：101000－400=100600练习三1借:管理费用900制造费用2,880贷:累计折旧3,780 2借:财务费用550应付利息1,000贷:银行存款1,550 3借:营业税金及附加1,860贷:应交税费1,860 4借:银行存款8,400贷:预收账款7,000其他业务收入1,400 5借:银行存款2,040贷:预收账款1,360其他业务收入680练习四1借:管理费用451制造费用564贷:现金1,015 2借:管理费用690制造费用1,610贷:累计折旧2,300 3借:营业税金及附加3,000贷:应交税费3,000 4借:预收账款700贷:其他业务收入700 5借:财务费用1,800贷:应付利息1,800 6借:管理费用20,000制造费用10,000生产成本60,000贷:应付职工薪酬--工资90,0007借:管理费用2,800 制造费用1,400 生产成本8,400贷:应付职工薪酬--福利费12,6008借:生产成本7,500贷:制造费用7,5009借:库存商品20,000贷:生产成本20,00010借:本年利润28,741贷:管理费用23,941财务费用1,800 营业税金及附加3,000借:其他业务收入700贷:本年利润700习题五材料单位成本33.52308040120)55305580524050120(=+++⨯+⨯+⨯+⨯领用材料成本 52.33×（100+50+120）=14130 期末库存 0习题六1.A 产品应分配的的制造费用：204807500280002800030530=+⨯B 产品应分配的的制造费用6450750028000750030530=+⨯借:生产成本--A产品24,080 --B产品6,450贷:制造费用30,5302.月末A 产品分配的制造费用： 500×59.5=29750 完工A 产品成本：25960+88500+28000+24080－29750=136790 完工B 产品成本：15306+40200+7500+6450=69456借:库存商品--A产品136,790 --B产品69,456贷:生产成本--A产品136,790--B产品69,456习题七 A 产品2515002003810022200=++⨯B 产品98280050027590095500=++⨯本月销售成本A 产品 25×1200=30000B 产品 98×2500=245000借:主营业务成本--A产品30,000 --B产品245,000贷:库存商品--A产品30,000--B产品245,000。

29、会计循环测试题及答案

中级经济师基础知识第 1题：单选题(本题1分)会计账务处理程序有多种形式，各单位应采用何种账务处理程序，由各单位自主选用或设计，在这些账务处理程序中最基本的是（）。

A、记账凭证账务处理程序B、多栏式日记账账务处理程序C、日记总账账务处理程序D、科目汇总表账务处理程序【正确答案】：A【答案解析】：我国各经济单位通常选择5种账务处理程序，最基本的是记账凭证账务处理程序。

通过本题还需掌握各种账务处理程序的优缺点及适用范围。

第 2题：单选题(本题1分)各种会计账务处理程序的主要区别在于（）。

A、编制记账凭证对依据不同B、编制会计报表的依据和方法不同C、登记明细账的依据和方法不同D、登记总账的依据和方法不同【正确答案】：D【答案解析】：考核账务处理程序的基本模式，可以概括为：原始凭证—记账凭证—会计账簿—会计报表。

目前，我国各经济单位通常采用的主要账务处理程序有五种：记账凭证账务处理程序、汇总记账凭证账务处理程序、科目汇总表账务处理程序、多栏式日记账账务处理程序、日记总账账务处理程序。

各种账务处理程序的主要区别是登记总账的依据和方法不同。

第 3题：单选题(本题1分)下列账户记录方法中，符合负债类账户记账规则的是( )。

A、增加记借方B、增加记贷方C、减少记贷方D、期末无余额【正确答案】：B【答案解析】：借贷记账法下：账户借方核算资产期初余额、资产增加、负债与所有者权益减少和资产期末余额账户贷方核算负债与所有者权益期初余额、负债与所有者权益增加、资产减少和负债与所有者权益期末余额。

第 4题：单选题(本题1分)在会计账务处理中，对发生的经济业务事项都要根据原始凭证或汇总原始凭证编制记账凭证，然后直接根据记账凭证逐笔登记总分类账。

这种账务处理程序是( )。

A、记账凭证账务处理程序B、汇总记账凭证账务处理程序C、科目汇总表账务处理程序D、日记总账账务处理程序【正确答案】：A【答案解析】：各种账务处理程序的主要区别在于登记总分类账的依据和方法不同，记账凭证账务处理程序的特点是直接根据记账凭证逐笔登记总分类账，它是最基本的账务处理程序。

会计循环试题及答案

会计循环试题及答案1. 选择题：（每题4分，共40分）1) 以下哪个不是会计循环的组成部分？A. 凭证记录B. 分类帐C. 试算平衡D. 利润表答案：D2) 会计循环的基本目的是什么？A. 监控经营业务B. 分析财务状况C. 对资金流动进行控制D. 实现税务要求答案：A3) 会计循环试算平衡指的是：A. 资产 = 负债 + 所有者权益B. 资产 - 负债 = 所有者权益C. 资产 + 负债 = 所有者权益D. 资产 - 所有者权益 = 负债答案：C4) 以下哪个不属于会计循环的步骤？A. 凭证记录B. 期末调整C. 资产负债表编制D. 利润表编制答案：B5) 会计循环中，凭证记录的目的是：A. 记录所有经济业务B. 查询和核对会计账目C. 汇总会计数据D. 提供给外部审计答案：A6) 以下哪个是会计循环的最后一步？A. 资产负债表编制B. 利润表编制C. 总账调整D. 凭证记录答案：B7) 会计循环的核心内容是：A. 分类帐B. 试算平衡C. 资产负债表D. 总账调整答案：A8) 会计循环的周期一般为：A. 日B. 月C. 季度D. 年答案：B9) 以下哪个是会计循环中的调整步骤？A. 凭证记录B. 资产负债表编制C. 总账调整D. 分类帐答案：C10) 会计循环试算平衡的目的是：A. 检查账目是否准确B. 获得收入和支出的明细C. 计算利润和损失D. 监控所有者权益答案：A2. 解答题：（每题10分，共30分）1) 简述会计循环的基本步骤。

答案：会计循环的基本步骤包括凭证记录、分类帐和试算平衡。

首先，通过凭证记录将经济业务明细记录下来，包括借方和贷方金额。

然后，将凭证记录的数据按照科目分类，形成分类帐，以便更好地掌握财务状况。

最后，通过试算平衡，检查资产、负债和所有者权益是否平衡，确保账目的准确性和一致性。

2) 请说明会计循环的重要性。

答案：会计循环是企业财务管理的基础，具有以下重要性：首先，会计循环可以监控经营业务，了解企业的经济状况和财务状况，为经营决策提供依据。

(完整版)会计循环1习题精选含答案

True / False Questions1. Accounts that appear in the balance sheet are often called temporary (nominal) accounts.FALSE2. Income Summary is a temporary account only used for the closing process. TRUE3. Revenue accounts should begin each accounting period with zero balances. TRUE4. Closing revenue and expense accounts at the end of the accounting period serves to make the revenue and expense accounts ready for use in the next period.TRUE5. The closing process takes place after financial statements have been prepared. TRUE6. Revenue and expense accounts are permanent (real) accounts and should not be closed at the end of the accounting period.FALSE7. Closing entries result in revenues and expenses being reflected in the owner's capital account.TRUE8. The closing process is a step in the accounting cycle that prepares accounts for the next accounting period.TRUE9. The closing process is a two-step process. First revenue, expense, and withdrawals are set to a zero balance. Second, the process summarizes a period's assets and expenses.FALSE10. Closing entries are required at the end of each accounting period to close all ledger accounts.FALSE11. Closing entries are designed to transfer the end-of-period balances in the revenue accounts, the expense accounts, and the withdrawals account to owner's capital. TRUE12. The Income Summary account is a permanent account that will be carried forward period after period.FALSE13. Closing entries are necessary so that owner's capital will begin each period with a zero balance.FALSE14. Permanent accounts carry their balances into the next accounting period. Moreover, asset, liability and revenue accounts are not closed as long as a company continues in business.FALSE15. The first step in the accounting cycle is to analyze transactions and events to prepare for journalizing.TRUE16. The accounting cycle refers to the sequence of steps in preparing the work sheet. FALSE17. The first five steps in the accounting cycle include analyzing transactions, journalizing, posting, preparing an unadjusted trial balance, and recording adjusting entries.TRUE18. The last four steps in the accounting cycle include preparing the adjusted trial balance, preparing financial statements and recording closing and adjusting entries. FALSE19. A classified balance sheet organizes assets and liabilities into important subgroups that provide more information to decision makers.TRUE20. An unclassified balance sheet provides more information to users than a classified balance sheet.FALSE21. Current assets and current liabilities are expected to be used up or come due within one year or the company's operating cycle whichever is longer.TRUE22. Intangible assets are long-term resources that benefit business operations that usually lack physical form and have uncertain benefits.TRUE23. Assets are often classified into current assets, long-term investments, plant assets, and intangible assets.TRUE24. Current liabilities are cash and other resources that are expected to be sold, collected or used within one year or the company's operating cycle whichever is longer.FALSE25. Long-term investments can include land held for future expansion.TRUE26. Plant assets and intangible assets are usually long-term assets used to produce or sell products and services.TRUE27. Current liabilities include accounts receivable, unearned revenues, and salaries payable.FALSE28. Cash and office supplies are both classified as current assets.TRUE29. Plant assets are also called fixed assets or property, plant, and equipment. TRUE30. The current ratio is used to help assess a company's ability to pay its debts in the near future.TRUEMultiple Choice Questions64. Another name for temporary accounts is:A. Real accounts.B. Contra accounts.C. Accrued accounts.D. Balance column accounts.E. Nominal accounts.65. When closing entries are made:A. All ledger accounts are closed to start the new accounting period.B. All temporary accounts are closed but not the permanent accounts.C. All real accounts are closed but not the nominal accounts.D. All permanent accounts are closed but not the nominal accounts.E. All balance sheet accounts are closed.66. Revenues, expenses, and withdrawals accounts, which are closed at the end of each accounting period are:A. Real accounts.B. Temporary accounts.C. Closing accounts.D. Permanent accounts.E. Balance sheet accounts.67. Which of the following statements is incorrect?A. Permanent accounts is another name for nominal accounts.B. Temporary accounts carry a zero balance at the beginning of each accounting period.C. The Income Summary account is a temporary account.D. Real accounts remain open as long as the asset, liability, or equity items recorded in the accounts continue in existence.E. The closing process applies only to temporary accounts.68. Assets, liabilities, and equity accounts are not closed; these accounts are called:A. Nominal accounts.B. Temporary accounts.C. Permanent accounts.D. Contra accounts.E. Accrued accounts.69. Closing the temporary accounts at the end of each accounting period:A. Serves to transfer the effects of these accounts to the owner's capital account on the balance sheet.B. Prepares the withdrawals account for use in the next period.C. Gives the revenue and expense accounts zero balances.D. Causes owner's capital to reflect increases from revenues and decreases from expenses and withdrawals.E. All of these.70. Journal entries recorded at the end of each accounting period to prepare the revenue, expense, and withdrawals accounts for the upcoming period and to update the owner's capital account for the events of the period just finished are referred to as:A. Adjusting entries.B. Closing entries.C. Final entries.D. Work sheet entries.E. Updating entries.71. The closing process is necessary in order to:A. calculate net income or net loss for an accounting period.B. ensure that all permanent accounts are closed to zero at the end of each accounting period.C. ensure that the company complies with state laws.D. ensure that net income or net loss and owner withdrawals for the period are closed into the owner's capital account.E. ensure that management is aware of how well the company is operating.72. Closing entries are required:A. if management has decided to cease operating the business.B. only if the company adheres to the accrual method of accounting.C. if a company's bookkeeper forgets to prepare reversing entries.D. if the temporary accounts are to reflect correct amounts for each accounting period.E. in order to satisfy the Internal Revenue Service.73. The recurring steps performed each reporting period, starting with analyzing and recording transactions in the journal and continuing through the post-closing trial balance, is referred to as the:A. Accounting period.B. Operating cycle.C. Accounting cycle.D. Closing cycle.E. Natural business year.74. Which of the following is the usual final step in the accounting cycle?A. Journalizing transactions.B. Preparing an adjusted trial balance.C. Preparing a post-closing trial balance.D. Preparing the financial statements.E. Preparing a work sheet.75. A classified balance sheet:A. Measures a company's ability to pay its bills on time.B. Organizes assets and liabilities into important subgroups.C. Presents revenues, expenses, and net income.D. Reports operating, investing, and financing activities.E. Reports the effect of profit and withdrawals on owner's capital.76. The assets section of a classified balance sheet usually includes:A. Current assets, long-term investments, plant assets, and intangible assets.B. Current assets, long-term assets, revenues, and intangible assets.C. Current assets, long-term investments, plant assets, and equity.D. Current liabilities, long-term investments, plant assets, and intangible assets.E. Current assets, liabilities, plant assets, and intangible assets.77. The usual order for the asset section of a classified balance sheet is:A. Current assets, prepaid expenses, long-term investments, intangible assets.B. Long-term investments, current assets, plant assets, intangible assets.C. Current assets, long-term investments, plant assets, intangible assets.D. Intangible assets, current assets, long-term investments, plant assets.E. Plant assets, intangible assets, long-term investments, current assets.78. A classified balance sheet differs from an unclassified balance sheet in thatA. a unclassified balance sheet is never used by large companies.B. a classified balance sheet normally includes only three subgroups.C. a classified balance sheet presents information in a manner that makes it easier to calculate a company's current ratio.D. a classified balance sheet will include more accounts than an unclassified balance sheet for the same company on the same date.E. a classified balance sheet cannot be provided to outside parties.79. Two common subgroups for liabilities on a classified balance sheet are:A. current liabilities and intangible liabilities.B. present liabilities and operating liabilities.C. general liabilities and specific liabilities.D. intangible liabilities and long-term liabilities.E. current liabilities and long-term liabilities.80. The current ratio:A. Is used to measure a company's profitability.B. Is used to measure the relation between assets and long-term debt.C. Measures the effect of operating income on profit.D. Is used to help evaluate a company's ability to pay its debts in the near future.E. Is calculated by dividing current assets by equity.81. The current ratio:A. Is calculated by dividing current assets by current liabilities.B. Helps to assess a company's ability to pay its debts in the near future.C. Can reveal problems in a company if it is less than 1.D. Can affect a creditor's decision about whether to lend money to a company.E. All of these.AACSB: CommunicationsAICPA BB: IndustryAICPA FN: Risk AnalysisDifficulty: HardLearning Objective: A182. The Unadjusted Trial Balance columns of a company's work sheet show the balance in the Office Supplies account as $750. The Adjustments columns show that $425 of these supplies were used during the period. The amount shown as Office Supplies in the Balance Sheet columns of the work sheet is:A. $325 debit.B. $325 credit.C. $425 debit.D. $750 debit.E. $750 credit.83. A 10-column spreadsheet used to draft a company's unadjusted trial balance, adjusting entries, adjusted trial balance, and financial statements, and which is an optional tool in the accounting process is a(n) :A. Adjusted trial balance.B. Work sheet.C. Post-closing trial balance.D. Unadjusted trial balance.E. General ledger.84. Accumulated Depreciation, Accounts Receivable, and Service Fees Earned would be sorted to which respective columns in completing a work sheet?A. Balance Sheet or Statement of Owner's Equity-Credit; Balance Sheet or Statement of Owner's Equity Debit; and Income Statement-Credit.B. Balance Sheet or Statement of Owner's Equity-Debit; Balance Sheet or Statement of Owner's Equity-Credit; and Income Statement-Credit.C. Income Statement-Debit; Balance Sheet or Statement of Owner's Equity-Debit; and Income Statement-Credit.D. Income Statement-Debit; Income Statement-Debit; and Balance Sheet or Statement of Owner's Equity-Credit.E. Balance Sheet or Statement of Owner's Equity-Credit; Income Statement-Debit; and Income Statement-Credit.85. Which of the following statements is incorrect?A. Working papers are useful aids in the accounting process.B. On the work sheet, the effects of the accounting adjustments are shown on the account balances.C. After the work sheet is completed, it can be used to help prepare the financial statements.D. On the work sheet, the adjusted amounts are sorted into columns according to whether the accounts are used in preparing the unadjusted trial balance or the adjusted trial balance.E. A worksheet is not a substitute for financial statements86. A company shows a $600 balance in Prepaid Insurance in the Unadjusted Trial Balance columns of the work sheet. The Adjustments columns show expired insurance of $200. This adjusting entry results in:A. $200 decrease in net income.B. $200 increase in net income.C. $200 difference between the debit and credit columns of the Unadjusted Trial Balance.D. $200 of prepaid insurance.E. An error in the financial statements.87. Statements that show the effects of proposed transactions as if the transactions had already occurred are called:A. Pro forma statements.B. Professional statements.C. Simplified statements.D. Temporary statements.E. Interim statements.88. If in preparing a work sheet an adjusted trial balance amount is mistakenly sorted to the wrong work sheet column. The Balance Sheet columns will balance on completing the work sheet but with the wrong net income, if the amount sorted in error is:A. An expense amount placed in the Balance Sheet Credit column.B. A revenue amount placed in the Balance Sheet Debit column.C. A liability amount placed in the Income Statement Credit column.D. An asset amount placed in the Balance Sheet Credit column.E. A liability amount placed in the Balance Sheet Debit column.89. If the Balance Sheet and Statement of Owner's Equity columns of a work sheet fail to balance when the amount of the net income is added to the Balance Sheet and Statement of Owner's Equity Credit column, the cause could be:A. An expense amount entered in the Balance Sheet and Statement of Owner's Equity Debit column.B. A revenue amount entered in the Balance Sheet and Statement of Owner's Equity Credit column.C. An asset amount entered in the Income Statement and Statement of Owner's Equity Debit column.D. A liability amount entered in the Income Statement and Statement of Owner's Equity Credit column.E. An expense amount entered in the Balance Sheet and Statement of Owner's Equity Credit column.Problems129. In the table below, indicate with an "X" in the proper column whether the account is a (nominal) temporary account or a (real) permanent account.132. Based on the adjusted trial balance shown below, prepare a classified balance sheet for Focus Package Delivery.* $2,000 of the long-term note payable is due during the next year.135. Use the following partial work sheet from Matthews Lanes to prepare its income statement, statement of owner's equity and a balance sheet (Assume the owner did not make any investments in the business this year.)137. A partially completed work sheet is shown below. The unadjusted trial balance columns are complete. Complete the adjustments, adjusted trial balance, income statement, and balance sheet and statement of owner's equity columns.140. The adjusted trial balance of Sara's Web Services follows:(a) Prepare the closing entries for Sara's Web Services.(b) What is the balance of Sara's capital account after the closing entries are posted?Problems159. The unadjusted trial balance of Quick Delivery is entered on the partial work sheet below. Complete the work sheet using the following information:(a) Salaries earned by employees that are unpaid and unrecorded, $5,000.(b) An inventory of supplies showed $1,000 of unused supplies still on hand.(c) Depreciation on delivery vans, $24,000.(d) Services paid in advance by customers of $10,000 have now been provided tocustomers.。

会计学(会计循环)习题与答案

一、单选题1、下列会计分录中，属于简单会计分录的是（）。

A.一借多贷会计分录B.多借多贷会计分录C.一贷多借会计分录D.一借一贷会计分录正确答案：D2、“本年利润”账户月末贷方余额表示的是（）。

A.累计发生的亏损总额B.利润分配额C.未分配利润额D.累计实现的净利润额正确答案：D3、下列各项中，属于借贷记账法理论基础的是（）。

A.资产＝负债＋所有者权益B.借方发生额合计数＝贷方发生额合计数C.收入-费用＝利润D.权责发生制正确答案：A4、借贷记账法下，账户哪一方记增加数，哪一方记减少数，是由（）决定的。

A.账户性质B.账户格式C.记账方法D.账户结构正确答案：A5、下列账户中，通常期末没有余额的账户是（）。

A.资产账户B.损益账户C.负债账户D.所有者权益账户正确答案：B6、（）是标明某项经济业务中应借应贷账户及金额的记录。

A.原始凭证B.会计分录C.会计凭证D.会计账簿正确答案：B7、下列账户期末余额一般在贷方的是（）账户。

A.待处理财产损溢B.应收账款C.制造费用D.累计折旧正确答案：D8、“短期借款”账户期初余额60 000元，本期借方发生额40 000元，本期贷方发生额30 000元，该账户的期末余额（）元。

A.10 000B.130 000C.70 000D.50 000正确答案：D9、借贷记账法下的发生额平衡法的依据是（）。

A.平行登记要点B.账户的结构C.“资产=权益”的会计等式D.“有借必有贷.有贷必相等”的规则正确答案：D10、原始凭证金额有错误的，应当（）。

A.在原始凭证上更正B.由经办人更正C.由出具单位更正并且加盖公章D.由出具单位重开，不得在原始凭证上更正正确答案：D11、记账凭证的填制应该由（）完成。

A.会计人员B.经办人员C.主管人员D.出纳人员正确答案：A12、会计机构和会计人员对不真实、不合法的原始凭证和违法收支，应当（）。

A.予以退回B.予以纠正C.不予接受D.不予接受，并向单位负责人汇报正确答案：D13、一般情况下登记账簿的直接依据是（）。

会计循环1习题精选含答案.docx

True / False Questions1.Accounts that appear in the balance sheet are often called temporary (nominal) accounts.FALSE2.Income Summary is a temporary account only used for the closing process.TRUE3.Revenue accounts should begin each accounting period with zero balances.TRUE4.Closing revenue and expense accounts at the end of the accounting period serves to make the revenue and expense accounts ready for use in the next period・TRUE5.The closing process takes place after financial statements have been prepared. TRUE6.Revenue and expense accounts are permanent (real) accounts and should not be closed at the end of the accounting period・FALSE7.Closing entries result in revenues and expenses being reflected in the owner's capital account.TRUE8.The closing process is a step in the accounting cycle that prepares accounts for the next accounting period.TRUE9.The closing process is a two-step process. First revenue, expense, and withdrawals are set to a zero balance. Second, the process summarizes a period's assets and expenses. FALSE10.Closing entries are required at the end of each accounting period to close all ledger accounts.FALSE11.Closing entries are designed to transfer the end-of-period balances in the revenue accounts, the expense accounts, and the withdrawals account to ownefs capital TRUE12.The Income Summary account is a permanent account that will be carried forward period after period.FALSE13.Closing entries are necessary so that owner's capital will begin each period with a zero balance.FALSE14.Permanent accounts carry their balances into the next accounting period・ Moreover, asset, liability and revenue accounts are not closed as long as a company continues in business.FALSE15.The first step in the accounting cycle is to analyze transactions and events to prepare for journalizing.TRUE16.The accounting cycle refers to the sequence of steps in preparing the work sheet. FALSE17.The first five steps in the accounting cycle include analyzing transactions, journalizing, posting, preparing an unadjusted trial balance, and recording adjusting entries.TRUE18.The last four steps in the accounting cycle include preparing the adjusted trial balance, preparing financial statements and recording closing and adjusting entries. FALSE19・ A classified balance sheet organizes assets and liabilities into important subgroups that provide more information to decision makers.TRUE20.An unclassified balance sheet provides more information to users than a classified balance sheet.FALSE21.Current assets and current liabilities are expected to be used up or come due within one year or the company's operating cycle whichever is longer.TRUE22.Intangible assets are long-term resources that benefit business operations that usually lack physical form and have uncertain benefits.TRUE23.Assets are often classified into current assets, long-term investments, plant assets, and intangible assets.TRUE24.Current liabilities are cash and other resources that are expected to be sold, collected or used within one year or the company's operating cycle whichever is longer.FALSE25.Long-term investments can include land held for future expansion.TRUE26.Plant assets and intangible assets are usually long-term assets used to produce or sell products and services.TRUE27.Current liabilities include accounts receivable, unearned revenues, and salaries payable.FALSE2& Cash and office supplies are both classified as current assets.TRUE29.Plant assets are also called fixed assets or property, plant, and equipment.TRUE30.The current ratio is used to help assess a company's ability to pay its debts in the near future.TRUEMultiple Choice Questions64.Another name for temporary accounts is:A.Real accounts.B.Contra accounts.C・ Accrued accounts.D. Balance column accounts.E・Nominal accounts.65.When closing entries are made:A.All ledger accounts are closed to start the new accounting period.K All temporary accounts are closed but not the permanent accounts.C.All real accounts are closed but not the nominal accounts.D.All permanent accounts are closed but not the nominal accounts.E.All balance sheet accounts are closed.66.Revenues, expenses, and withdrawals accounts, which are closed at the end of each accounting period are:A.Real accounts.K Temporary accounts-C.Closing accounts.D.Permanent accounts.E.Balance sheet accounts.67.Which of the following statements is incorrect?A.Permanent accounts is another name for nominal accounts.B・ Temporary accounts carry a zero balance at the beginning of each accounting period. C・ The Income Summary account is a temporary account.D.Real accounts remain open as long as the asset, liability, or equity items recorded in the accounts continue in existence.E.The closing process applies only to temporary accounts.68.Assets, liabilities, and equity accounts are not closed; these accounts are called:A.Nominal accounts.B.Temporary accounts.C.Permanent accounts.D.Contra accounts.E.Accrued accounts.69.Closing the temporary accounts at the end of each accounting period:A・ Serves to transfer the effects of these accounts to the owners capital account on the balance sheet.B.Prepares the withdrawals account for use in the next period.C・ Gives the revenue and expense accounts zero balances.D. Causes owner's capital to reflect increases from revenues and decreases from expenses and withdrawals.E・All of these.70.Journal entries recorded at the end of each accounting period to prepare the revenue, expense, and withdrawals accounts for the upcoming period and to update the ownefs capital account for the events of the period just finished are referred to as:A.Adjusting entries• K Closing entries.C.Final entries.D.Work sheet entries.E.Updating entries.71.The closing process is necessary in order to:A・ calculate net income or net loss for an accounting period.B.ensure that all permanent accounts are closed to zero at the end of each accounting period.CL ensure that the company complies with state laws.ensure that net income or net loss and owner withdrawals for the period are closed into the ownefs capital account.E. ensure that management is aware of how well the company is operating・72.Closing entries are required:A.讦management has decided to cease operating the business.B.only if the company adheres to the accrual method of accounting.C.if a compan/s bookkeeper forgets to prepare reversing entries.D・if the temporary accounts are to reflect correct amounts for each accounting period.E. in order to satisfy the Internal Revenue Service.73.The recurring steps performed each reporting period, starting with analyzing and recording transactions in the journal and continuing through the post-closing trial balance, is referred to as the:A・ Accounting period.B.Operating cycle.C.Accounting cycle.D.Closing cycle.E.Natural business year.74.Which of the following is the usual final step in the accounting cycle?A.Journalizing transactions.B.Preparing an adjusted trial balance・C.Preparing a post-closing trial balance.D.Preparing the financial statements.E.Preparing a work shee匚75.A classified balance sheet:A.Measures a company's ability to pay its bills on time.K Organizes assets and liabilities into important subgroups-C・ Presents revenues, expenses, and net income.D・ Reports operating, investing, and financing activities.E. Reports the effect of profit and withdrawals on ownefs capital.76.The assets section of a classified balance sheet usually includes:A.Current assets, long-term investments, plant assets, and intangible assets.B.Current assets, long-term assets, revenues, and intangible assets.C・ Current assets, long-term investments, plant assets, and equity.D.CuiTent liabilities, long-term investments, plant assets, and intangible assets.E.Current assets, liabilities, plant assets, and intangible assets.77.The usual order for the asset section of a classified balance sheet is:A.Current assets, prepaid expenses, long-term investments, intangible assets-B.Long-term investments, current assets, plant assets, intangible assets.C・Current assets, long-term investments, plant assets, intangible assets.D.Intangible assets, current assets, long-term investments, plant assets.E.Plant assets, intangible assets, long-term investments, current assets.78.A classified balance sheet differs from an unclassified balance sheet in thatA.a unclassified balance sheet is never used by large companies.B.a classified balance sheet normally includes only three subgroups.C.a classified balance sheet presents information in a manner that makes it easier to calculate a company's current ratio.D.a classified balance sheet will include more accounts than an unclassified balance sheet for the same company on the same date.E.a classified balance sheet cannot be provided to outside parties.79.Two common subgroups for liabilities on a classified balance sheet are:A.current liabilities and intangible liabilities.B.present liabilities and operating liabilities.C・ general liabilities and specific liabilities.D.intangible liabilities and long-term liabilities.E> current liabilities and long-term liabilities.8(). The current ratio:A.Is used to measure a company's profitability.B・ Is used to measure the relation between assets and long-term debt.C.Measures the effect of operating income on profit.De Is used to help evaluate a company's ability to pay its debts in the near future・E.Is calculated by dividing current assets by equity.81.The current ratio:A.Is calculated by dividing current assets by current liabilities.B.Helps to assess a company's ability to pay its debts in the near future.C・ Can reveal problems in a company if it is less than 1.D・ Can affect a creditors decision about whether to lend money to a company. E・All of these.AACSB: CommunicationsAICPA BB: IndustryAICPA FN: Risk AnalysisDifficulty: HardEarning Objective: Al82.The Unadjusted Trial Balance columns of a compan/s work sheet show the balance in the Office Supplies account as $750. The Adjustments columns show that $425 of these supplies were used during the period. The amount shown as Office Supplies in the Balance Sheet columns of the work sheet is:A・$325 debit.B.$325 credit.C.$425 debit.D.$750 debit.E.$750 credit.83.A 10-column spreadsheet used to draft a company!s unadjusted trial balance, adjusting entries, adjusted trial balance, and financial statements, and which is an optional tool in the accounting process is a(n):A. Adjusted trial balance.B・Work sheet.C.Post-closing trial balance.D.Unadjusted trial balance.E.General ledger・84.Accumulated Depreciation, Accounts Receivable, and Service Fees Earned would be sorted to which respective columns in completing a work sheet?A.Balance Sheet or Statement of Ownefs Equity-Credit; Balance Sheet or Statement of Owner's Equity Debit; and Income Statement-Credit.B.Balance Sheet or Statement of Ownefs Equity-Debit; Balance Sheet or Statement of Ownefs Equity-Credit; and Income Statement-Credit.C.Income Statement-Debit; Balance Sheet or Statement of Owner's Equity-Debit; and Income Statement-Credit.D・ Income Statement-Debit; Income Statement-Debit; and Balance Sheet or Statement of Owner's Equity-Credit.E. Balance Sheet or Statement of Owner's Equity-Credit; Income Statement-Debit; and Income Statement-Credit.85.Which of the following statements is incorrect?A. Working papers are useful aids in the accounting process.B・ On the work sheet, the effects of the accounting adjustments are shown on the account balances・C.After the work sheet is completed, it can be used to help prepare the financial statements.De On the work sheet, the adjusted amounts are sorted into columns according to whether the accounts are used in preparing the unadjusted trial balance or the adjusted trial balance.E. A worksheet is not a substitute for financial statements86.A company shows a $600 balance in Prepaid Insurance in the Unadjusted Trial Balance columns of the work sheet. The Adjustments columns show expired insurance of $200. This adjusting entry results in:A・$200 decrease in net income.B. $200 increase in net income.C・ $200 difference between the debit and credit columns of the Unadjusted Trial Balance.D.$200 of prepaid insurance・E.An error in the financial statements.87.Statements that show the effects of proposed transactions as if the transactions had already occurred are called:A.Pro forma statements.B.Professional statements.C・ Simplified statements-D.Temporary statements.E.Interim statements.88.If in preparing a work sheet an adjusted trial balance amount is mistakenly sorted to the wrong work sheet column. The Balance Sheet columns will balance on completing the work sheet but with the wrong net income, if the amount sorted in error is:A.An expense amount placed in the Balance Sheet Credit column.B.A revenue amount placed in the Balance Sheet Debit column.C.A liability amount placed in the Income Statement Credit column.D.An asset amount placed in the Balance Sheet Credit column.E.A liability amount placed in the Balance Sheet Debit column.89.If the Balance Sheet and Statement of Ownefs Equity columns of a work sheet fail to balance when the amount of the net income is added to the Balance Sheet and Statement of Ownefs Equity Credit column, the cause could be:A.An expense amount entered in the Balance Sheet and Statement of Ownefs Equity Debit column.B.A revenue amount entered in the Balance Sheet and Statement of Ownefs Equity Credit column.C.An asset amount entered in the Income Statement and Statement of Owner's Equity Debit column.D.A liability amount entered in the Income Statement and Statement of Owner's Equity Credit column.E・An expense amount entered in the Balance Sheet and Statement of Ownefs Equity Credit column.Problems129. In the table below, indicate with an n X H in the proper column whether the account is a (nominal) temporary account or a (real) permanent account.Account Temporary(Nominal)Permanent(Real)a. Cash .......................................................... b・Prepaid insurance ......................................c. Unearned fees ...........................................d. Accounts receivable ..................................e. Insurance expense .....................................f. O. Ner, Capital .......................................... g- O. Ner. Withdrawals ................................. h・Rent expense .............................................•1. Fees earned ...............................................j. Supplies .................................................... k・Supplies expense .......................................1. Depreciation expense 一Building ............ m. Accumulated depreciation 一Building ..132. Based on the adjusted trial balance shown below, prepare a classified balance sheet for Focus Package Delivery.Focus Package Delivery Classified Balance SheetDecember 31AssetsCuiTent assetsCash .......................................................................................... $ 1&200Accounts receivable ....................................................................... 34,200Supplies ........................................................................................... 2,100Total current assets .............................................................Long-term investments ............................................................Plant assetsDelivery equipment .................................................................... $45,000 Less: accumulated depreciation ......................................... 11.080 Intangible assets .......................................................................Total assets ...............................................................................LiabilitiesCurrent liabilitiesCurrent portion of long-term debt .............................................. $ 2?000 Accounts payable ................................................................ 16,200Wages payable .................................................................... 4」20Total current liabilities........................................................Long-term liabilitiesLong-term note payable ......................................................Total liabilities .........................................................................EquityK. Ferman. Capital ...................................................................Total liabilities and equity ........................................................■ ■ • ]• ■ ■ • ■■・••$2,000 of the long-term note payable is due during the next year.$54,50025,00033,9206000 $129.420$ 22,32018.000 $ 40,32089 J 00 $129.420135. Use the following partial work sheet from Matthews Lanes to prepare its income statement, statement of ownefs equity and a balance sheet (Assume the owner did not make any investments in the business this year.)MATTHEWS LANESWork SheetFor Year Ended June 30BalanceSheetand Statement ofOwneFs EquityCash ............................................... Dr Cn Dr11,275CnAccounts Receivable ..................... 1,750Office Supplies (800)Prepaid Insurance .......................... 3,400Scoring Equipment ........................ 130,000 Accumulated depreciation-Scoring equipment .................... 21,700 Salaries payable .. (200)M. Matthews. Capital ....................................................... 50,000M. Matthews. Withdrawals ....................................................... 46,425Bowling revenue ............................ 13Z675Depreciation expense-Scoring equipment .................... ，.…10.825Salaries expense ............................. .… 1,800Insurance expense .......................... ，• (200)Rent expense .................................. .... 1,600Office supplies expense ................. ，. (400)Repairs expense ............................. ，• (350)Telephone expense ........................ ，• (750)Totals ............................................. ....15,925137,675 193,650 71,900 Net income ..................................... (121550121550)Totals ............................................. ，•…137.675 137,675 193.650 193.650 Account Income StatementMATTHEWS LANESIncome Statement________________________ For Year Ended June 30Bowling Revenue __________ $137,675Expenses:Depreciation expense-Scoring equipment .............................................................. $10,825Salaries expense ............................................................. 1,800Insurance expense (200)Rent expense .................................................................. 1,600Office supplies expense (400)Repairs expense (350)Telephone expense (750)Total expenses .............................................................................................. 15.925 Net Income ..................................................................................................... $121.750MATTHEWS LANESStatement of Owner's EquityFor Year Ended June 30M. Matthews, Beginning Balance ....................................... $ 50,000Plus net income ................................................................... 121,750$171,750 Less (46-425) withdrawals ....................................................................M. Matthews, Ending balance........................................................................ $125.325MATTHEWS LANES Balance Sheet June 30 ASSETSCash $ 11,275 Accounts receivable 1,750 Office supplies 800 Prepaid Insurance 3,400 Scoring Equipment $ 13(X000Less: Accumulated Depr 2L700 108,300 Total Assets $125.525 LIABILITIESSalaries payable $ 200Total Liabilities $ 200 EQUITYM. Matthews, Capital $125,325 Total Liabilities & Owner9s Equity $125,525137. A partially completed work sheet is shown below・ The unadjusted trial balance columns are complete. Complete the adjustments, adjusted trial balance, income statement, and balance sheet and statement of ownefs equity columns.Platen Company Work SheetFor the year ended December 31AccountUnadjusted TrialBalance Adjustments Adjusted TrialBalanceIncome StatementBalance Sheet andStatement ofOwner EquityDebit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash (40)Accounts receivable ........Prepaid insurance (25)Supplies .......................... 14 8Ofiice equipment............. 340 340Accum. Depr., Officeequipment (45)Accounts payable ............ 57 57 Rent payable ..................C. Platen, Capital ............ 132 132 C. Platen, Withdrawals.・35 35Fees earned .............. 300 380Rent expense ................... 60 90Utilities expense (20)hisurance expense (10)Supplies expense .............Deprec・ exp, Officeequipment (45)Totals .............................. 534 534Net income ......................Totals ..............................Platen Company Work SheetFor the year ended December 31 AccountUnadjusted TrialBalance Adjustments Adjusted TrialBalance Income StatementBalance Sheet andStatement ofOwner's EquityDebit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash ............................... 40 4040 Accounts receivable ...... (a) 808080 Prepaid insurance .......... 25 (b) 101515 Supplies ......................... 14 (c) 688Office equipment ........... 340 340340 Accum. DeprOfficeequipment 45 (d) 459090 Accounts payable .......... 57 5757 Rent payable .................. 何303030 C. Platen. Capital ............ 132 132132 C. Platen, Withdrawals. 35 3535Fees earned ..................... 300 (a) 80380380Rent expense ................. 60 (e) 309090Utilities expense ............. 20 2020Insurance expense .......... (b) 10 1010Supplies expense ........... (c) 666Deprec. exp., Officeequipment ................... (d) 45 矩45Totals .............................. 534 534 171171689689171380518309 Net income (209209)Totals .............................. 380380518卫140. The adjusted trial balance of Saras Web Services follows:SARAS WEB SERVICESAdjusted Trial BalanceDecember 31Cash ................................................................................ S 1,170Supplies .............................................................................. 1,930Prepaid insurance (600)Computer equipment ........................................................ 20,600Accumulated depreciation-Computer equipment $ 5,40() Accounts payable (325)Sara Pollis, Capital ........................................................................... 13,925Sara Pollis, Withdrawals .................................................... 4,800Services revenue .............................................................................. 21,720 Salaries expense ................................................................. 6,920Depreciation expense ......................................................... 2.000Rent expense ...................................................................... 1,200Supplies expense (800)Utilities expense (950)Insurance expense ................................................................. 400 _____ Totals ............................................................................... $41370 $41370(a)Prepare the closing entries for Sara's Web Services・(b)What is the balance of Sara's capital account after the closing entries are posted?a) Closing entries:Dec.31 Services Revenue .............................................. 21,720Income Summary .......................................................... 21,72031 Income Summary .............................................. 12,270Salaries Expense ............................................................. 6,920 Depreciation Expense ..................................................... 2,000 Rent Expense .................................................................. 1,200 Supplies Expense ............................................................... 800 Utilities Expense ................................................................ 950 Insurance Expense ............................................................. 400 31 Income Summary ................................................ 9,450Sara Pollis, Capital .......................................................... 9,450 31 Sara Pollis, Capital ............................................. 4,800Sara Pollis, Withdrawals ................................................. 4,800Balance of Sara fs capital account after closing entries: b) Beginning Balance ..........Add Net Income ............ Less Withdrawals .......... Ending Balance .............Problems159. The unadjusted trial balance of Quick Delivery is entered on the partial work sheet below. Complete the work sheet using the following information:(a) Salaries earned by employees that are unpaid and unrecorded, $5,000. (b) An inventory of supplies showed $ 1,000 of unused supplies still on hand. (c) Depreciation on delivery vans, $24,000.(d) Services paid in advance by customers of $10,000 have now been provided to customers.$13,925 9,450 (4,800) $18,575Quick DeliveryWork SheetFor tlie year ended December 31AccountUnadjusted TrialBalance AdjustmentsAdjusted TrialBalance Income StatementBalance Sheet andStatement of Owner'sEquityDebit Credit Debit Credit Debit Credit Debit Credit Debit CreditCash ................................ 70,000 Accounts Receivable….・10,000 Supplies ........................... 3,000 Delivery Vans ................. 120,000Accum. Dep匚• Vans.・・・•48,000Accounts payable ........... 15,000 Unearned fees................. 20,000 Salaries payable ...............B. Rapid Capital ............... 55,000B. Rapid. Withdrawals.・・50,000Fees earned .................... 320,000 Salary expense ................ 177,000Rent expense ................... 2&000 Supplies expense .............Depreciation expense,...Totals .............................. 458.000 458.000Quick Delivery Work Sheet For the year ended December 31AccountUnadjusted TrialBalance AdjustmentsAdjusted TrialBalanceIncome StatementBalance Sheet andStatement ofOwner's Equity Debit Credit Debit Credit Debit Credit Debit Credit Debit CreditCash ............................. 70,000 70,000 70,000 Accounts Receivable,... 10,000 10,000 ]0,000 Supplies ....................... 3,000 2,000 1,000 1,000 Delivery Vans .............. 120,000 120,000 120,000Accum・ Depr.・Vans ... 48,000 24,000 72,000 72,000Accomits payable ......... ]5,000 15,000 15,000 Unearned fees .............. 20,000 10,000 10,000 ]0,000 Salaries payable ........... 5,000 5,000 5,000 B. Rapid. Capital 55,000 55,000 55,000 B. Rapid. Withdrawals.. 50,000 50,000 50,000Fees earned ................... 320,000 10,000 330,000 330,000Salary expense .............. 177,000 5,000 182,000 182,000Rent expense ................ 2&000 2&000 2&000Supplies expense .......... 2,000 2,000 2,000Depreciation expense.... 24.000 24,000 24.000Totals ........................... 458.0QQ 458.0QQ 4k000 41.0QQ 4g7.0QQ 4S7.0QQ 236,000 330000 157,000 Net income 94.000 94000 Totals 330.0QQ 330.000 251.000 251,000。

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True / False Questions1. Accounts that appear in the balance sheet are often called temporary (nominal) accounts.FALSE2. Income Summary is a temporary account only used for the closing process. TRUE3. Revenue accounts should begin each accounting period with zero balances. TRUE4. Closing revenue and expense accounts at the end of the accounting period serves to make the revenue and expense accounts ready for use in the next period.TRUE5. The closing process takes place after financial statements have been prepared. TRUE6. Revenue and expense accounts are permanent (real) accounts and should not be closed at the end of the accounting period.FALSE7. Closing entries result in revenues and expenses being reflected in the owner's capital account.TRUE8. The closing process is a step in the accounting cycle that prepares accounts for the next accounting period.TRUE9. The closing process is a two-step process. First revenue, expense, and withdrawals are set to a zero balance. Second, the process summarizes a period's assets and expenses.FALSE10. Closing entries are required at the end of each accounting period to close all ledger accounts.FALSE11. Closing entries are designed to transfer the end-of-period balances in the revenue accounts, the expense accounts, and the withdrawals account to owner's capital. TRUE12. The Income Summary account is a permanent account that will be carried forward period after period.FALSE13. Closing entries are necessary so that owner's capital will begin each period with a zero balance.FALSE14. Permanent accounts carry their balances into the next accounting period. Moreover, asset, liability and revenue accounts are not closed as long as a company continues in business.FALSE15. The first step in the accounting cycle is to analyze transactions and events to prepare for journalizing.TRUE16. The accounting cycle refers to the sequence of steps in preparing the work sheet. FALSE17. The first five steps in the accounting cycle include analyzing transactions, journalizing, posting, preparing an unadjusted trial balance, and recording adjusting entries.TRUE18. The last four steps in the accounting cycle include preparing the adjusted trial balance, preparing financial statements and recording closing and adjusting entries. FALSE19. A classified balance sheet organizes assets and liabilities into important subgroups that provide more information to decision makers.TRUE20. An unclassified balance sheet provides more information to users than a classified balance sheet.FALSE21. Current assets and current liabilities are expected to be used up or come due within one year or the company's operating cycle whichever is longer.TRUE22. Intangible assets are long-term resources that benefit business operations that usually lack physical form and have uncertain benefits.TRUE23. Assets are often classified into current assets, long-term investments, plant assets, and intangible assets.TRUE24. Current liabilities are cash and other resources that are expected to be sold, collected or used within one year or the company's operating cycle whichever is longer.FALSE25. Long-term investments can include land held for future expansion.TRUE26. Plant assets and intangible assets are usually long-term assets used to produce or sell products and services.TRUE27. Current liabilities include accounts receivable, unearned revenues, and salaries payable.FALSE28. Cash and office supplies are both classified as current assets.TRUE29. Plant assets are also called fixed assets or property, plant, and equipment. TRUE30. The current ratio is used to help assess a company's ability to pay its debts in the near future.TRUEMultiple Choice Questions64. Another name for temporary accounts is:A. Real accounts.B. Contra accounts.C. Accrued accounts.D. Balance column accounts.E. Nominal accounts.65. When closing entries are made:A. All ledger accounts are closed to start the new accounting period.B. All temporary accounts are closed but not the permanent accounts.C. All real accounts are closed but not the nominal accounts.D. All permanent accounts are closed but not the nominal accounts.E. All balance sheet accounts are closed.66. Revenues, expenses, and withdrawals accounts, which are closed at the end of each accounting period are:A. Real accounts.B. Temporary accounts.C. Closing accounts.D. Permanent accounts.E. Balance sheet accounts.67. Which of the following statements is incorrect?A. Permanent accounts is another name for nominal accounts.B. Temporary accounts carry a zero balance at the beginning of each accounting period.C. The Income Summary account is a temporary account.D. Real accounts remain open as long as the asset, liability, or equity items recorded in the accounts continue in existence.E. The closing process applies only to temporary accounts.68. Assets, liabilities, and equity accounts are not closed; these accounts are called:A. Nominal accounts.B. Temporary accounts.C. Permanent accounts.D. Contra accounts.E. Accrued accounts.69. Closing the temporary accounts at the end of each accounting period:A. Serves to transfer the effects of these accounts to the owner's capital account on the balance sheet.B. Prepares the withdrawals account for use in the next period.C. Gives the revenue and expense accounts zero balances.D. Causes owner's capital to reflect increases from revenues and decreases from expenses and withdrawals.E. All of these.70. Journal entries recorded at the end of each accounting period to prepare the revenue, expense, and withdrawals accounts for the upcoming period and to update the owner's capital account for the events of the period just finished are referred to as:A. Adjusting entries.B. Closing entries.C. Final entries.D. Work sheet entries.E. Updating entries.71. The closing process is necessary in order to:A. calculate net income or net loss for an accounting period.B. ensure that all permanent accounts are closed to zero at the end of each accounting period.C. ensure that the company complies with state laws.D. ensure that net income or net loss and owner withdrawals for the period are closed into the owner's capital account.E. ensure that management is aware of how well the company is operating.72. Closing entries are required:A. if management has decided to cease operating the business.B. only if the company adheres to the accrual method of accounting.C. if a company's bookkeeper forgets to prepare reversing entries.D. if the temporary accounts are to reflect correct amounts for each accounting period.E. in order to satisfy the Internal Revenue Service.73. The recurring steps performed each reporting period, starting with analyzing and recording transactions in the journal and continuing through the post-closing trial balance, is referred to as the:A. Accounting period.B. Operating cycle.C. Accounting cycle.D. Closing cycle.E. Natural business year.74. Which of the following is the usual final step in the accounting cycle?A. Journalizing transactions.B. Preparing an adjusted trial balance.C. Preparing a post-closing trial balance.D. Preparing the financial statements.E. Preparing a work sheet.75. A classified balance sheet:A. Measures a company's ability to pay its bills on time.B. Organizes assets and liabilities into important subgroups.C. Presents revenues, expenses, and net income.D. Reports operating, investing, and financing activities.E. Reports the effect of profit and withdrawals on owner's capital.76. The assets section of a classified balance sheet usually includes:A. Current assets, long-term investments, plant assets, and intangible assets.B. Current assets, long-term assets, revenues, and intangible assets.C. Current assets, long-term investments, plant assets, and equity.D. Current liabilities, long-term investments, plant assets, and intangible assets.E. Current assets, liabilities, plant assets, and intangible assets.77. The usual order for the asset section of a classified balance sheet is:A. Current assets, prepaid expenses, long-term investments, intangible assets.B. Long-term investments, current assets, plant assets, intangible assets.C. Current assets, long-term investments, plant assets, intangible assets.D. Intangible assets, current assets, long-term investments, plant assets.E. Plant assets, intangible assets, long-term investments, current assets.78. A classified balance sheet differs from an unclassified balance sheet in thatA. a unclassified balance sheet is never used by large companies.B. a classified balance sheet normally includes only three subgroups.C. a classified balance sheet presents information in a manner that makes it easier to calculate a company's current ratio.D. a classified balance sheet will include more accounts than an unclassified balance sheet for the same company on the same date.E. a classified balance sheet cannot be provided to outside parties.79. Two common subgroups for liabilities on a classified balance sheet are:A. current liabilities and intangible liabilities.B. present liabilities and operating liabilities.C. general liabilities and specific liabilities.D. intangible liabilities and long-term liabilities.E. current liabilities and long-term liabilities.80. The current ratio:A. Is used to measure a company's profitability.B. Is used to measure the relation between assets and long-term debt.C. Measures the effect of operating income on profit.D. Is used to help evaluate a company's ability to pay its debts in the near future.E. Is calculated by dividing current assets by equity.81. The current ratio:A. Is calculated by dividing current assets by current liabilities.B. Helps to assess a company's ability to pay its debts in the near future.C. Can reveal problems in a company if it is less than 1.D. Can affect a creditor's decision about whether to lend money to a company.E. All of these.AACSB: CommunicationsAICPA BB: IndustryAICPA FN: Risk AnalysisDifficulty: HardLearning Objective: A182. The Unadjusted Trial Balance columns of a company's work sheet show the balance in the Office Supplies account as $750. The Adjustments columns show that $425 of these supplies were used during the period. The amount shown as Office Supplies in the Balance Sheet columns of the work sheet is:A. $325 debit.B. $325 credit.C. $425 debit.D. $750 debit.E. $750 credit.83. A 10-column spreadsheet used to draft a company's unadjusted trial balance, adjusting entries, adjusted trial balance, and financial statements, and which is an optional tool in the accounting process is a(n) :A. Adjusted trial balance.B. Work sheet.C. Post-closing trial balance.D. Unadjusted trial balance.E. General ledger.84. Accumulated Depreciation, Accounts Receivable, and Service Fees Earned would be sorted to which respective columns in completing a work sheet?A. Balance Sheet or Statement of Owner's Equity-Credit; Balance Sheet or Statement of Owner's Equity Debit; and Income Statement-Credit.B. Balance Sheet or Statement of Owner's Equity-Debit; Balance Sheet or Statement of Owner's Equity-Credit; and Income Statement-Credit.C. Income Statement-Debit; Balance Sheet or Statement of Owner's Equity-Debit; and Income Statement-Credit.D. Income Statement-Debit; Income Statement-Debit; and Balance Sheet or Statement of Owner's Equity-Credit.E. Balance Sheet or Statement of Owner's Equity-Credit; Income Statement-Debit; and Income Statement-Credit.85. Which of the following statements is incorrect?A. Working papers are useful aids in the accounting process.B. On the work sheet, the effects of the accounting adjustments are shown on the account balances.C. After the work sheet is completed, it can be used to help prepare the financial statements.D. On the work sheet, the adjusted amounts are sorted into columns according to whether the accounts are used in preparing the unadjusted trial balance or the adjusted trial balance.E. A worksheet is not a substitute for financial statements86. A company shows a $600 balance in Prepaid Insurance in the Unadjusted Trial Balance columns of the work sheet. The Adjustments columns show expired insurance of $200. This adjusting entry results in:A. $200 decrease in net income.B. $200 increase in net income.C. $200 difference between the debit and credit columns of the Unadjusted Trial Balance.D. $200 of prepaid insurance.E. An error in the financial statements.87. Statements that show the effects of proposed transactions as if the transactions had already occurred are called:A. Pro forma statements.B. Professional statements.C. Simplified statements.D. Temporary statements.E. Interim statements.88. If in preparing a work sheet an adjusted trial balance amount is mistakenly sorted to the wrong work sheet column. The Balance Sheet columns will balance on completing the work sheet but with the wrong net income, if the amount sorted in error is:A. An expense amount placed in the Balance Sheet Credit column.B. A revenue amount placed in the Balance Sheet Debit column.C. A liability amount placed in the Income Statement Credit column.D. An asset amount placed in the Balance Sheet Credit column.E. A liability amount placed in the Balance Sheet Debit column.89. If the Balance Sheet and Statement of Owner's Equity columns of a work sheet fail to balance when the amount of the net income is added to the Balance Sheet and Statement of Owner's Equity Credit column, the cause could be:A. An expense amount entered in the Balance Sheet and Statement of Owner's Equity Debit column.B. A revenue amount entered in the Balance Sheet and Statement of Owner's Equity Credit column.C. An asset amount entered in the Income Statement and Statement of Owner's Equity Debit column.D. A liability amount entered in the Income Statement and Statement of Owner's Equity Credit column.E. An expense amount entered in the Balance Sheet and Statement of Owner's Equity Credit column.Problems129. In the table below, indicate with an "X" in the proper column whether the account is a (nominal) temporary account or a (real) permanent account.132. Based on the adjusted trial balance shown below, prepare a classified balance sheet for Focus Package Delivery.* $2,000 of the long-term note payable is due during the next year.135. Use the following partial work sheet from Matthews Lanes to prepare its income statement, statement of owner's equity and a balance sheet (Assume the owner did not make any investments in the business this year.)137. A partially completed work sheet is shown below. The unadjusted trial balance columns are complete. Complete the adjustments, adjusted trial balance, income statement, and balance sheet and statement of owner's equity columns.140. The adjusted trial balance of Sara's Web Services follows:(a) Prepare the closing entries for Sara's Web Services.(b) What is the balance of Sara's capital account after the closing entries are posted?Problems159. The unadjusted trial balance of Quick Delivery is entered on the partial work sheet below. Complete the work sheet using the following information:(a) Salaries earned by employees that are unpaid and unrecorded, $5,000.(b) An inventory of supplies showed $1,000 of unused supplies still on hand.(c) Depreciation on delivery vans, $24,000.(d) Services paid in advance by customers of $10,000 have now been provided tocustomers.。

会计循环习题答案--人大版

第二章会计循环习题答案《会计学》人大版11月11日借：银行存款 500 000贷：实收资本 500 00011月12日借：现金 10 000贷：银行存款 10 00011月14日借：预付帐款 30 000贷：银行存款 30 00011月16日借：固定资产 100 000贷：银行存款 80 000应付账款 20 00011月17日借：管理费用 800贷：现金 80011月20日借：库存商品 300 000贷：银行存款 200 000应付账款 100 00011月25日借：其他应收款 2 500贷：现金 2 50011月28日借：银行存款 150 000贷：主营业务收入 150 000借：主营业务成本 120 000贷：库存商品 120 00011月29日借：管理费用 2 200现金 300贷：其他应收款 2 50011月30日借：应付账款 20 000贷：银行存款 20 00011月30日借：管理费用 2 500贷：应付职工薪酬 2 50011月30日借：管理费用 5 000贷：预付帐款 5 0001（2）将分录登记至总分类账T型账户，为各账户结出余额。

其他应收款库存商品1(3)编制试算平衡表方华公司试算平衡表11月３0日1(4) 编制11月份方华公司的利润表和11月31日的资产负债表。

方华公司利润表11月营业收入150 000减：营业成本120 000毛利30 000减: 管理费用 10 500利润19 500方华公司资产负债表11月30日资产负债货币资金317 000应付账款100,000其他应收款0应付职工薪酬 2 500预付帐款25,000负债合计102 500库存商品180,000所有者权益固定资产100,000实收资本500 000利润分配19 500所有者权益合计519 500资产合计622 000负债和所有者权益合计622 0002(1) 为方华公司12月份发生的业务编制会计分录12月1日借：银行存款 200 000贷：短期借款 200 00012月5日借：固定资产 40 000贷：银行存款 40 00012月6日借：库存商品 150 000贷：应付账款 150 00012月14日借：现金 8 000贷：银行存款 8 00012月15日借：应付职工薪酬 5000贷：现金 5 00012月16日借：银行存款 180000贷：主营业务收入 180000借：主营业务成本 144000贷：库存商品 14400012月18日借：现金 1 600贷：主营业务收入 1 60012月25日借：应付账款 150000贷：银行存款 15000012月31日借：应付账款 100 000贷：银行存款 100 00012月31日借：管理费用 2 500贷：应付职工薪酬 2 50012月31日借：管理费用 2 000贷：累计折旧 2 00012月31日借：管理费用 10 000贷：预付帐款 10 00012月31日借：财务费用 1 000贷：应付利息 1 000注：12月利息费用=200 000*6%/12=1 000 2（2）更新收入、成本及费用账户，并编制结账分录主营业务收入主营业务成本借: 主营业务收入 331600贷：本年利润 331600借：本年利润 290000贷：主营业务成本 264000管理费用 25000财务费用 1 000借：利润分配 36 100贷：本年利润 36 100库存现金银行存款应付职工薪酬应付账款实收资本短期借款200020001(4) 编制12 月份方华公司的利润表和12月31日的资产负债表。

第三章会计循环

1. 账项调整是根据复式记账原理的需要进行的。

（）所选答案： [未给定] 正确答案：错问题 2得 0 分，满分 10 分2. 成本类账户和损益类中费用账户的结构相同。

（）所选答案： [未给定] 正确答案：错3. 会计账户是根据会计科目开设的，会计科目也是账户的名称。

（）所选答案： [未给定] 正确答案：对4. 试算平衡表中全部账户的期初余额合计数加上本期发生额合计数，应等于期末余额合计数。

（）所选答案： [未给定] 正确答案：错问题 5 得 0 分，满分 10 分5. 借贷记账法下，由账户的性质决定账户的哪一边登记增加数，哪一边登记减少数。

（）所选答案： [未给定] 正确答案：对6. 借贷记账法下试算平衡的依据是会计账户的基本结构。

（）所选答案： [未给定] 正确答案：错7. 对于一笔经济业务，单式记账法是只记一个账户，复式记账法是记两个账户。

（）所选答案： [未给定]正确答案：错8. 借贷记账法的记账规则是“账户借方登记增加数，贷方登记减少数”。

（）所选答案：[未给定]正确答案：错9. 企业赊购货物时，资产和负债同时增加。

（）所选答案：[未给定]正确答案：对10.账户按提供资料的详细程度不同，可因隶属关系分为总账账户和明细账账户。

（）所选答案：[未给定]正确答案：对1. “借”和“贷”记账符号表示（）。

所选答案：[未给定]正确答案： D. 记账的部位2. 下列账户中和“实收资本”账户结构相同的账户是（）。

所选答案：[未给定]正确答案： B. 应付账款3. 复式记账法下，每笔经济业务都以相等的金额在（）登记。

所选答案：[未给定]正确答案： C. 长期待摊费用4. 下列科目中属于损益类的是（）。

所选答案：[未给定]正确答案： D. 营业税金及附加5. 账户的对应关系是指（）。

所选答案：[未给定]正确答案： D. 一项业务中有关账户之间的应借应贷关系6. 下列记账差错中，能通过编制试算平衡表判断的记账差错是（）。

会计循环练习题答案(新)

《会计学》第三章会计循环练习题【资料】振兴股份有限公司2013年6月份发生下列经济业务：1.5日，购入原材料一批, 价款10 000元，款项尚未支付。

2.9日，收回购货单位前欠货款20 000，存入银行。

3.10日，销售商品一批（应税消费品），价款80 000，消费税税率5%，款项尚未收到。

4.14日, 以银行存款支付前欠供应商款项30 000元。

5.15日，从银行提取现金l 000元。

6.17日，以现金购买办公用品500元。

7.21日，以现金支付销售产品运费l 000元。

8.23日，以现金支付银行汇款手续费50元。

9.25日，以银行存款支付职工工资lO 000元。

10.30日，结转本月销售产品的成本30 000元。

11.30日，计算得出应交企业所得税10 000元。

12. 30日，结账。

13. 30日，按照净利润的10%提取法定盈余公积。

14. 30日，宣告向投资者分配现金股利共计5 000元。

15. 30日，结转利润分配各明细账。

振兴股份有限公司2013年5月31日的科目余额汇总表如表1所示：表1 科目余额汇总表编制单位：振兴股份有限公司 2013年5月31 日单位：元【要求1】根据以上15笔经济业务填写记账凭证。

1.记账凭证附原始凭证张会计主管：记账：出纳：复核：制单：2.记账凭证2013 年 6 月 9 日凭证编号：002附原始凭证张会计主管：记账：出纳：复核：制单：3.（1）记账凭证2013 年 6 月 10 日凭证编号：003附原始凭证张会计主管：记账：出纳：复核：制单：3.（2）记账凭证附原始凭证张会计主管：记账：出纳：复核：制单：4.记账凭证附原始凭证张会计主管：记账：出纳：复核：制单：记账凭证2013 年 6 月 15 日凭证编号：006附原始凭证张会计主管：记账：出纳：复核：制单：6.记账凭证附原始凭证张会计主管：记账：出纳：复核：制单：7.记账凭证附原始凭证张会计主管：记账：出纳：复核：制单：记账凭证2013 年 6 月 23 日凭证编号：009附原始凭证张会计主管：记账：出纳：复核：制单：9.记账凭证附原始凭证张会计主管：记账：出纳：复核：制单：10.记账凭证附原始凭证张会计主管：记账：出纳：复核：制单：记账凭证2013 年 6 月 30 日凭证编号：012附原始凭证张会计主管：记账：出纳：复核：制单：12.(1)记账凭证附原始凭证张会计主管：记账：出纳：复核：制单：12.(2)记账凭证2013 年 6 月 30 日凭证编号：013附原始凭证张会计主管：记账：出纳：复核：制单：12.(3)记账凭证附原始凭证张会计主管：记账：出纳：复核：制单：13.记账凭证附原始凭证张会计主管：记账：出纳：复核：制单：14.记账凭证2013 年 6 月 30 日凭证编号：017附原始凭证张会计主管：记账：出纳：复核：制单：15.记账凭证2013 年 6 月 30 日凭证编号：018附原始凭证张会计主管：记账：出纳：复核：制单：【要求2】根据记账凭证登记各账簿。