会计英语课后习题参考答案

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.

Cash1,800

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 expense600

Prepaid advertising 600

Insurance expense (2160/12*2)360

Prepaid insurance360

Unearned revenue2,100

Service revenue2,100

Consultant expense900

Prepaid consultant900

Unearned revenue3,000

Service revenue3,000 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