专业英语期末考试题C卷

专业英语期末考试题C卷
一、True or false (2分*20=40分)
90%左右取自教材每章后面的self-test questions的内容
1. An income statement reports the difference between revenues and expensed during the
period ( F )
2. Notes Payable has a normal beginning balance of $30,000. During the period, new
borrowings total $63000 and the ending balance in Notes Payable is $41000. Then the beginning Cash amount must have $74000( 52000).( F )
3. The ending Cash account balance is $57600. During the period, Cash receipts equal
$124300. If the cash payments during the period total $135000, then the beginning Cash amount must have $46800(68300). ( F )
4. Failure to record an adjusting entry for an accrued expense, will result overtaking the
liabilities. ( F )
5. Sea and Ski purchased merchandise for $1600, terms 1/10 n/30, Sea and Ski later
returned $200 of the merchandise. The supplier paid the $40 freight and sent an invoice for the merchandise retained plus the freight. The entry to record the payment of the invoice within the discount period would include a credit to inventory for $1640.
( F )（没找到题，我个人觉得是错的）
6. In a worksheet, Sales Discounts appears in the debit column of the income statement.
( T )
7. On the balance sheet, accounts receivable are usually reported as total accounts
receivable plus the allowance for uncollectible accounts. ( F )
8. The FIFO inventory cost flow method may be applied to perpetual inventory system.
( F )
9. Estimated gross profit rates methods of inventory valuation is allowable interim dates
but not at year-end. ( T )
10. Depreciation of a plant asset is the process of asset valuation for statement of
financial position purposes. ( F )
11. When an investor uses the equity method to account for investments in common stock,
the investment account will be increased when the investor recognizes a cash dividend received from the investee. ( F )
12. When an asset is depreciated by the straight-line method for financial reporting
purposes and an accelerated method for tax purposes, its tax basis normally is less than its book value. ( T )
13. If a business ceases operations and liquidates, claims of all creditors have legal
priority over claims of the stockholders. ( T )
14. A capital lease is recorded in the accounting records of the lessee by an entry debiting
Rent Expense and crediting Cash each time a lease payment is made. ( F )
15. Stewart Corporation sells exercise equipment carrying a three-year-warranty. The
liability for repairs on the equipment should be recognized
in the accounting period when customers bring equipment in for repairs. ( F )
16. the following balances refer to Digital Clocks, a sole trader business
31/12/03 31/12/04
Assets $80000 $150000
Liabilities 5000 8000
Drawings of $15000 were paid in 2004 and additional capital of $40000 was contributed. The net profit for 2004 must have been $12000. ( F )
17. Xiamen Enterprise has the following assets and liabilities at 31 December 2003;
Cash at bank $1694
Machinery 22772
Accumulated depreciation of machinery 460
Unearned revenue 636
Accounts receivable 7020
Accounts payable 1790
Prepaid rent 600
Then the owners’ equity must be $28000 ( F )
18. Treasury stock transactions may result in decreases in the balance of retained
earnings. ( T )
19. Unlike a stock split, a stock dividend requires a formal journal entry in the financial
accounting records because stock dividends increase the relative book value of an individual’s stock holding. ( T )
20. Dade Corporation issued 5000 shares of its $10 par value stock in exchange for a
parcel of land which had been on the market for over a year
at a listed price of $300000. The journal entry to record the issuance of the stock includes a credit to Additional Paid-in Capital for $250000. ( T )
二、Put the following into Chinese (2分*15=30分)
1. Discount on notes payable 应付票据贴现
2. Contingent asset 或有资产
3. Operating lease 经营租赁
4. Declining-balance method 余额递减法
5. Inventory turnover 存货周转率
6. Work-in-process inventory 在产品存货
7. FIFO 先进先出法
8. Allowance method 备抵法
9. Internal control 内部控制
10. Acid-test ratio 酸性测试比率
11. Debit-memorandum 借记通知单
11. Accrued basis 应计制（权责发生制）
12. Working capital 营运资本
13. Trial balance 试算表
14. Debt ratio 负债比率
三，passage translation
In lesson 3 we were introduced to the preparation of a worksheet for a service business. The worksheet for a merchandising company differs from that for a service business in the following ways;
The adjusted trial balance columns have been omitted to expedite preparation of the worksheet. This could apply to a service business worksheet as well; the experienced accountant omits these columns to reduce time and effort. The following account titles appear in the worksheet of a merchandiser but do not exist for a service business; Merchandise inventory, Sales,
Sales returns and allowances, Sales discounts, and Cost of goods sold. The unadjusted merchandise inventory appearing in the trial balance is the unadjusted inventory prior to the adjustment for shrinkage. Shrinkage is an additional expense added to cost of goods sold on the income statement. Since cost of goods sold is an expense, any item that increases cost of goods sold will be extended to the income statement’s debit column. The adjusted merchandise inventory balance appears on the balance sheet as a current asset and is entered in the balance sheet’s debit column. The Sales, Sales returns and allowances, Sales discounts, and Cost of goods sold accounts are extended to the income statement columns. Note how the contra accounts (returns and allowances, discounts) are in the debit column. It is easy to make the mistake of putting these contra accounts in the credit column along with Sales. Both Sales returns and allowances and Sales discounts are debit balance accounts.
在第三课我们介绍了服务型企业的工作底稿制备，商业公司的工作底稿在以下几个方面不同于服务型行业的工作底稿。

删掉调整后的试算平衡表栏可以加快工作表的准备。

这种方法也可以用于服务性行业的工作底稿；经验丰富的会计人员会省略这些栏目从而节省时间和工作量。

下列这些记账科目出现在商业行业业务工作表中，但并不存在于服务行业中：商品库存，存货，销售额，销售退货及折让，折扣额，以及产品销售成本。

试算平衡表中的未调整商品库存是未调整的库存额，它优先于对收缩量的调整。

收缩额是指在利润表中产品销售成本增加的额外支出。

由于产品销售成本就是一项支出，所以对于任何一项销售成本的增加都应加入到利润表中的借方。

出现在平衡表中的调整后的商品库存平衡表是做一项先进并进入平衡表中的借方。

销售，销售退回及折让，销售折扣和销售成本账户将结转到损益表中。

注意备抵账户（退回及折让，折扣）是在借方。

很容易错将这些备抵账户与销售记在贷方。

销售退回，折让与销售折扣余
额都在借方。

四，Exercise
A machine was installed on January 2, 2000, at a total cost of 45000. Straight-line depreciation was taken each year for four years, based on the assumption of a six-year life and no salvage value. The machine was disposed of on April 30, during its fifth year. Present the entries to record the partial year’s depreciation on April 30 and to record the disposal under each of the following unrelated assumptions: (a) the machine was sold for 17000; (b) the machine was sold for 7,000; and (c) the machine was totally destroyed in a fire and the insurance company settled the insurance claim for 10600.
a. (1) Dr: fixed assets pending disposal: 12500
Accumulated depreciation : 45000*4/6+45000*1/6*4/12=32500
Cr: fixed assets--machine: 45000
(2) Dr: cash in bank : 17000
Cr: fixed assets pending disposal: 17000
(3) Dr: fixed assets pending disposal: 4500
Cr: non-operating income: 4500
b. (1) Dr: fixed assets pending disposal: 12500
Accumulated depreciation : 45000*4/6+45000*1/6*4/12=32500 Cr: fixed assets ---machine: 45000
(3) Dr: cash in bank: 7000
Cr: fixed assets pending disposal: 7000
(3) Dr: non-operating expense: 5500
Cr: fixed assets pending disposal: 5500
c. (1) Dr: fixed assets pending disposal: 12500
Accumulated depreciation: 32500
Cr: fixed assets ---machine: 45000
(2) Dr: Cash in bank- (insurance company) : 10600 Cr: fixed assets pending disposal: 10600
(3) Dr: non-operating expense 1900
Cr: fixed assets pending disposal: 1900。