专业英语练习

1、One summer, Bill Smith decided to earn money as a lawn （草坪）service professional. He solicited（请求）business in the neighborhood and obtained （获得，得到）enough lawn servicing jobs that he thought he could be successful at it. On the basis of these commitments, Bill went to the bank, withdrew（收回) $2,000 of his savings and deposited the funds（资金）in a business bank account. At the end of the summer, Bill tried to figure out how well he’d done. He examined his business bank account checkbook and noted the following:▪Deposits（存款）, all from customer collections, totaled $11,400.Checks written:▪Truck and equipment rental（卡车及其设备的租金）, $1,800 ▪Gas, oil, and lubrication（润滑剂）, $880▪Miscellaneous supplies used（杂用品的使用）, $90▪Helpers, $4,700; including payroll taxes, $500▪Insurance（保险）, $175▪Telephone, $100▪Transfer from business bank account to his personal savings account （从商业用行账户转移到他的个人储蓄账户）, $2,000.Bill also had records that showed:▪Customers still owed him $600 for services that were performed. ▪He still owed another $100 to a vendor（厂商）for gas and oil.Required:1. Show the effect of each transaction on the accountingequation.2. Prepare an income statement for Bill for his summer business.3. Prepare a balance sheet for Bill at the end of the summer.4. Explain why the company’s cash balance at the end of thesummer does not agree with the amount of net income earned during the summer.accounting period is as follows:LARGE COMPANY, INC.Trial BalanceDecember 31, 2007Cash .......................................................................... $ 4,00Prepaid Insurance ................................................... 1,600Supplies .................................................................. 2,100 Equipment .............................................................. 20,000 Accumulated Depreciation—Equipment ............... $ 2,000 C. Large, Capital .................................................... 19,000 C. Large, Withdrawals ............................................. 2,000 Revenue ................................................................... 33,000 Salaries Expense ..................................................... 18,300Rent Expense .........................................................______6,000Totals ........................................................................ $54,000 $54,000 Additional information:1. Expired insurance, $600.2. Unused supplies, per inventory, $800.3. Estimated depreciation, $1,000.4. Earned but unpaid salaries, $700Required ：1. Prepare adjusting entries.2. Prepare closing entries.3. Prepare a post-closing trial balance.and supplementary data for the Whisk Company.Merchandise inventory, beginning ................................................ $ 20,000 Merchandise inventory, ending ..................................................... 23,000 Purchases ........................................................................................ 215,000 Purchases discounts ...................................................................... 6,000 Purchases returns and allowances ............................................... 3,000 Sales ................................................................................................. 400,000 Sales discounts ............................................................................... 3,200 Sales returns and allowances ........................................................ 1,800 Transportation-in ............................................................................. 10,000 Required:Show the computation, in Income Statement format, of net sales,cost of goods sold, and gross profit for the year ended December31, 20XX.ABC Company issued $200,000 face value bonds on January 1, 2007, with semiannual interest payments to be made on June 30and December 31 at a contract rate of 10%. The bonds were scheduled to mature five years after they were issued. Threeyears after they were issued, on January 1, 2010, the company repurchased 40% of the outstanding bonds for $79,000.Required:Part A1. Assume that the bonds were issued when the market rate ofinterest was 9%. Prepare a schedule showing the bondinterest expense and amounts of amortization for the life of thebonds.2. Prepare the journal entry to record the bond issuance.3. Prepare journal entries for the first two interest payments.4. Prepare the journal entry to recognize the partial repurchase ofthe bonds.reconciliation for the month of June. When the bank statement for the month of June arrives from the bank, the following steps are performed:1. The deposits to the bank account, as recorded on the bankstatement, are compared to the deposit slips retained by the company. It is noted that the last deposit, of $400, occurred after banking hours on the day of the bank statement and therefore has not been recorded by the bank on this bank statement.2. Checks returned with the bank statement are compared to thechecks written and listed in checkbook. This comparison shows that there are checks outstanding amounting to $1,456.3. The ending bala nces on the statement and in the company’sbooks are determined. The ending bank statement balance is exactly $10,129 whereas the books show $9,000.4. Other information contained on the bank statement, notpreviously known to the company, is determined. This includes the following: (a) a note from a customer for $200 has been collected by the bank and credited to our account; (b) a check from Frank Ony for $120 previously deposited by us has been returned for lack of sufficient funds; (c) the bank has charged us $25 for its services (this includes a $10 fee for the NSF check).5. A bank reconciliation is prepared; it does not balance! Thedifference is $18, so a transposition error is looked for (whenever the difference is a multiple of 9, there is a very good chance that there has been an inadvertent exchange of two digits (for example, writing 29 when it should have been 92). An error is found. Check number 141 was written for $235 and cleared the bank for $235, but was recorded in the company records as $253.Required:Prepare a bank reconciliation for the Betsy Dough Company at June 30, 2007.5、A new machine costs $120,000, has an estimated useful life of five years and an estimated salvage value of $15,000 at the end of that time. It is expected that the machine can produce 210,000 widgets during its useful life.The New Times Company purchases this machine on January 1, 2006, and uses it for exactly three years. During these years the annual production of widgets has been 80,000, 50,000, and 30,000 units, respectively. On January 1, 20X9, the machine is sold for $45,000.Required:1. Calculate the depreciation expense for each of the first threeyears using:a. Straight-lineb. Units-of-productionc. Double-declining-balance2. Prepare the proper journal entry for the sale of the machineunder the three different depreciation methods.6、ABC Company issued $200,000 face value bonds on January 1, 2007, with semiannual interest payments to be made on June 30 and December 31 at a contract rate of 10%. The bonds were scheduled to mature five years after they were issued. Three years after they were issued, on January 1, 2010, the company repurchased 40% of the outstanding bonds for $79,000. Required:Part AAssume that the bonds were issued when the market rate of interest was 9%. Prepare a schedule showing the bond interest expense and amounts of amortization for the life of the bonds.Prepare the journal entry to record the bond issuance.Prepare journal entries for the first two interest payments.Prepare the journal entry to recognize the partial repurchase of the bonds.思考题Pls describe the closing process and analyze why an organization need closing at the end of a certain period?1、Pls describe accounting equation and explain why3 Pls describe accoung on plant assets’subsequent expenditure and explain what is capital expenditure4.Pls decribe all acounting treatment about retail earings and the related accounting transaction5 Pls explain major financial statement’s analysis method and describe major financial ratio.。