会计专业英语模拟题(开卷)

《会计专业英语》模拟题（补）

1．Complete the translation between Chinese and English:

（1）salvage value

（2）depreciation

（3）ratio analysis

（4）所有者权益

（5）fiscal year

（6）uncollectible accounts

（7）double entry system

（8）petty cash

（9）流动资产

（10）gross profit

（11）first in first out

（12）资产负债表

（13）common-size analysis

（14）corporations

（15）经济业务

（16）short-term debt-paying ability

2．Label the following accounts as asset (A), liability (L), owner’s equity (OE), revenues (R) or expense (E)

（1）Office Supplies

（2）Professional Fees

（3）Prepaid Insurance

（4）Salary expense

（5）Accounts Payable

（6）Service Income

（7）R. L. Osborn, Capital

（8）Rent Expense

（9）Accounts Receivable

（10）Notes payable

3. Answer the question related to the topic of the conversation

W h y I s n’t T h e A c c o u n t i n g A M i r r o r o f W h a t H a p p e n e d?

J o h n:L e a n n e,c a n y o u e x p l a i n w h a t’s g o i n g o n h e r e w i t h t h e s e m o n t h l y s t a t e m e n t s?

L e a n n e:S u r e,J o h n.H o w c a n I h e l p y o u?

J o h n:I d o n’t u n d e r s t a n d t h i s l a s t–i n,f i r s t–o u t i n v e n t o r y p r o c e d u r e.I t j u s t d o e s n’t m a k e s e n s e.

L e a n n e:W e l l,w h a t i t m e a n s i s t h a t w e a s s u m e t h a t t h e l a s t g o o d s w e r e c e i v e a r e t h e f i r s t o n e s s o l d.S o t h e i n v e n t o r y i s m a d e u p o f t h e i t e m s w e p u r c h a s e d f i r s t.

John: Yes, but that’s my problem. It doesn’t work that way! We always distribute the oldest produce first. Some o f that produce is perishable! We can’t keep any of it very long or

it’ll spoil.

L e a n n e:J o h n,y o u d o n’t u n d e r s t a n d.W e o n l y a s s u m e t h a t t h e p r o d u c t s w e d i s t r i b u t e a r e t h e l a s t o n e s r e c e i v e d.W e d o n’t a c t u a l l y h a v e t o d i s t r i b u t e t h e g o o d s i n t h i s w a y.

J o h n:I a l w a y s t h o u g h t t h a t a c c o u n t i n g w a s s u p p o s e d t o s h o w w h a t r e a l l y h a p p e n e d.I t a l l s o u n d s l i k e“m a k e b e l i e v e”t o m e!W h y n o t r e p o r t w h a t r e a l l y h a p p e n s?

Q u e s t i o n:

H o w w o u l d y o u r e s p o n d t o J o h n i f y o u w e r e L e a n n e?

4. Casey Electronics’ ending inventory co nsists of 182 Model M43 CD players acquired through various purchases, as follows:

Specific Purchase Number of Units Cost per Unit Total Cost

B e g i n n i n g i n v e n t o r y34$270$9180

First purchase 60 282 16,920

Second purchase 256 298 76,288

Third purchase 164 312 51,168Total units available 514 $153,556

Of the 514 units available for sale, 182 units are still on hand and 332 have been sold.

Under the periodic inventory system, If Casey Electronics chooses LIFO method, how should it calculate the cost of the 182 CD players on hand?

5. You are given the following balance sheet and income statement for 2002 and 2003:

Table A Balance Sheet for 2002 and 2003

(all values in thousands of dollars)

2002 2003 _______________________________________________________________ Assets

Cash 200 300

Marketable securities 300 200

Receivables. 800 1,000

Inventory 1,200 1,000

Fixed assets 3,300 3,700

Total assets. 5,800 6,200 Liabilities and common equity

Accounts payable 300 200

Notes payable 200 300

Other current liabilities 1,000 800

Long-term debt 1,000 1,200

Common equity . 3,300 3,700

Total liabilities and common equity 5,800 6,200

Table B Income Statement for 2003

__________________________________________________

Sales $1,000,000

Operating and other costs - 700,000

EBIT . 300,000

Interest . - 100,000

Profits before taxes 200,000

Tax at 40% rate - 80,000

Profits after taxes 120,000

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