《会计专业英语》期末复习资料
会计专业英语复习资料.doc
会计专业英语复习资料.doc会计专业英语复习资料⼀、短语中英互译1、会计分录2、投资活动3、后进先出法4、客观性原则5、注册会计师6、权责发⽣制7、累计折旧8、资产负债表9、经营决策10、银⾏存款11、到期⽇12、历史成本13、source document14、nominal rate15、credit sale16、sum-of-years-digits method17、economic entity assumption18、financial position19、fixed assets20、public hearing21、income statement22、sales discount23、value added tax24、trade mark25、bank overdraft⼆、从下列选项中选出最佳答案1、Generally，revenue is recorded by a business enterprise at a point when ：( )A、Management decides it is appropriate to do soB、The product is available for sale to consumersC、An exchange has taken place and the earning process is virtually completeD、An order for merchandise has been received2、Why are certain costs capitalized when incurred and then depreciated or amortized over subsequent accounting periods？( )A、To reduce the income tax liabilityB、To aid management in making business decisionsC、To match the costs of production with revenue as earnedD、To adhere to the accounting concept of conservatism3、What accounting principle or concept justifies the use of accruals and deferrals？( )A、Going concernB、MaterialityC、ConsistencyD、Stable monetary unit4、An accrued expense can best be described as an amount ( )A、Paid and currently matched with revenueB、Paid and not currently matched with revenueC、Not paid and not currently matched with revenueD、Not paid and currently matched with revenue5、Continuation of a business enterprise in the absence of contrary evidence is an example of the principle or concept of ( )A、Business entityB、ConsistencyC、Going concernD、Substance over form6、In preparing a bank reconciliation，the amount of checks outstanding would be：( )A、added to the bank balance according to the bank statement.B、deducted from the bank balance according to the bank statement.C、added to the cash balance according to the depositor’s records.D、deducted from the cash balance according to the depositor’s records.7、Journal entries based on the bank reconciliation are required for：( )A、additions to the cash balance according to the depositor’s records.B、deductions from the cash balance according to the depositor’srecords.C、Both A and BD、Neither A nor B8、A petty cash fund is ：( )A、used to pay relatively small amounts。
会计英语期末复习
会计英语期末复习一、判断题20题20分二、多项选择题10题20分三、名词解释5题15分四、汉译英20题20分五、会计实践操作25分名词解释1、A ccounting （会计）P3Accounting is an information system that identifies, records, and com muni cates releva nt, reliable, and comparable in formati on about an orga ni zati on 'bus in ess activities that can be expressed in mon etary terms.2、A ccrual Basis Accounting （权责发生制）P183、L iability （负债）P148Liabilities are defi ned as probable future sacrifices of econo mic ben efits arising from present obligations of a particular entity to transfer assets or provide services to other en tities in the future as a result of past tran sact ions or eve nts4、C apital Expenditure （资本性支出）P29Capital expe nditure are expe nditures expected to yield ben efits bey ond the curre nt acco unting period, that is, have future cash flows , and thus should be added to the pla nt and equipme nt or capital asset acco unt.5、M atchi ng prin ciple （配比原则）P26Matchi ng refers to the tim ing of recog niti on of reve nues and expe nses in the in come stateme nt. Un der this con cept, all expe nses in curred in earning reve nue should be recog ni zed in the same period the reve nue is recog ni zed.6、Substanee Over Form （实质重于形式）P3oSubsta nee over form requires that tran sacti ons and other eve nts are accounted for and presented in accordance with their substance and economic reality and not merely their legal form.汉译英真实性和公允性truth and fairness收付实现制cash basis of acco unting持续经营假设going concern assumpti on谨慎性原贝V con servatism资本性支出capital expe nditures配比原贝V matchi ng prin ciple临时性账户temporary acco unt经营成果operat ing results盈余公积surplus reserve 未分配利润un distributed profit银行对账单bank stateme nt应付票据no tes payable实质重于形式substa nee over form 货币计量假设mon etary un it assumpti on重要性原则materiality可变现净值net realizable value完工百分比法perce ntage-of-completi on method 会计主体假设separate en tity assumpti on交易与事项transactions and eve nts会计分期假设acco unting period assumpti on 会计循环acco un ti ng cycle多选题1.会计信息外部使用者有哪些？Suppliers, regulators, lawyers, brokers, the in vestors , le nders, non-executive directors2.资产负债表的构成项目（资产，负债，所有者权益）Assets, liabilities, owners 'equity3.现金流量表的构成项目（经营，投资，筹资）Operating, investing , financing activities4 •所有者权益变动表In vestors, capital reserve, surplus reserve,reta ined5.应收款项的分类Acco unts receivable, no tes receivable, other receivable6.存货的计价方法Specific ide ntificati on, average cost, first-i n first-out7.制造业企业存货的构成Raw materials, good in process of manufacture, fini shed goods8.固定资产折旧的方法press shareholders /un distributed profit first-out, last-i n6。
会计专业英语复习题(1)(1)
【题型】：一、词汇默写10个，共10分已销商品成本cost of goods sold期初存货beginning inventory期末存货ending inventory在途物资goods in transit个别计价法specific identification method 加权平均法weighted average method先进先出法first-in，first-out method后进后出法last-in，first-out method货物流goods flow实地盘存制periodic inventory system永续盘存制perpetual inventory system实物资产，有形资产tangible assets固定百分比法fixed percentage method直线法straight line method余额递减法declining balance methods股本capital stock可折旧资产depreciable asset残值salvage value历史成本法historical cost systems公允价值fair value累计折旧accumulated depreciation账面值book value资本利得capital gain加速折旧法accelerated depreciation methods双倍余额递减法double-declining-balance method 工作量折旧法activity depreciation methods 多项资产multiple-asset长期投资long term investment短期投资current investment公允价值fair value市场价值market value股利，红利dividends账面价值carrying amount预付税款advance taxes paid应收票据note receivable应付票据note payable利息收入interest receivable拒绝承兑dishonor应收利息interest receivable利息费用interest expense应付利息interest payable预付账款prepayment应付工资salaries payable应交税金taxes payable不带息票据moninterest-bearing note匹配原则matching principle票据贴现discount on notes payable预收款项unearned revenues或有负债contingent liabilities现值present value商业票据commercial paper年金annuity面值face value市场利率market rate二、中译英5句，共25分1.会计师在记录经济业务时必须遵守经济主体原则。
会计专业英语期末复习资料
《会计英语》复习资料二、单项选择（红字为正确答案）：Financial reports are used byd.all of the above1. For accounting purposes, the business entity should be considered separate from its owners if the entity is（）d.all of the above2. Which of the following best describes accountingb.is an information system that provides reports to stakeholders3. Using accrual accounting, expenses are recorded and reported onlya.when they are incurred, whether or not cash is paid4. The measurement bases exclude( )c.Sale price5. Debts owed by a business are referred to as（）d.liabilities6. Which of the following financial statements reports information as of a specific datec.balance sheet7. Cash investments made by the owner to the business are reported on the statement of cash flows in thea.financing activities section8. The accounting equation may be expressed asd.Assets - Liabilities = Owner's Equity9. Which of the following groups of accounts have a normal credit balancea.revenues, liabilities, capital10. Which of the following groups of accounts have a normal debit balanced.assets, expenses11. Which of the following types of accounts have a normal credit balancec.revenues and liabilities12. In the accounting cycle, the last step is（）a.preparing a post-closing trial balance13. Which of the following should not be considered cash by an accountantc.postage stamps14. A bank reconciliation should be prepared periodically because （）c.any differences between the depositor's records and thebank's records should be determined, and any errors made byeither party should be discovered and corrected15. The amount of the outstanding checks is included on the bank reconciliationas a(n) （）c.deduction from the balance per bank statement16. The asset created by a business when it makes a sale on account is termedc.accounts receivable17. What is the type of account and normal balance of Allowance for Doubtful Accountsa.Contra asset, credit18. The term "inventory" indicates （）d.both A and B19. Merchandise inventory at the end of the year was understated. Which of the following statements correctly states the effect of the error income is understated20.Merchandise inventory at the end of the year is overstated. Which of the following statements correctly states the effect of the errorb.owner's equity is overstated21.The inventory method that assigns the most recent costs to cost of good sold isb.LIFO22.Under which method of cost flows is the inventory assumed to be composed of the most recent costsb.first-in, first-out23. When the perpetual inventory system is used, the inventory sold is debited to ( )b.cost of merchandise sold24．All of the following below are needed for the calculation of depreciation exceptd.book value25. A characteristic of a fixed asset is that it ised in the operations of a business26. Accumulated Depreciation ( )c.is a contra asset account27. The two methods of accounting for investments in stock are the cost method and the （）b.equity method28. A capital expenditure results in a debit to （）d.an asset account29. Current liabilities are（）d.due and payable within one year30. The debt created by a business when it makes a purchase on account is referred to as anb.account payable31. Notes may be issued （）d.all of the above32.The cost of a product warranty should be included as an expense in thec.period of the sale of the product33. If the market rate of interest is 8%, the price of 6% bonds paying interest semiannually with a face value of $100,000 will bec.Less than $100,00034. The interest rate specified in the bond indenture is called the （）b.contract rate35. When the corporation issuing the bonds has the right to repurchase the bonds prior to the maturity date for a specific price, the bonds ared.callable bonds36. When the market rate of interest on bonds is higher than the contract rate, the bonds will sell atd. a discount37. One potential advantage of financing corporations through the use of bonds rather than common stock isc.the interest expense is deductible for tax purposes by thecorporation38. Characteristics of a corporation include （）d.shareholders who have limited liability39. Stockholders' equity （）c.includes retained earnings and paid-in capital40. The excess of issue price over par of common stock is termed a(n) （）d.premium41. Cash dividends are usually not paid on which of the followingc.treasury stock42. Which of the following accounts below is reported in the paid-in capital/stockholders' equity section of the corporate balance sheetd.Preferred Stock43. If preferred stock has dividends in arrears, the preferred stock must bed.convertible44. The primary purpose of a stock split is tob.reduce the market price of the stock per share45. Which statement below is not a reason for a corporation to buy back its own stock.d.to increase the shares outstanding46. The liability for a dividend is recorded on which of the following datesd.the date of declaration47. In credit terms of 2/10, n/30, the "2" represents thed.percent of the cash discount48. Revenue should be recognized when（）b.the service is performed49. The ability of a business to pay its debts as they come due and to earn a reasonable amount of income is referred to as （）b.solvency and profitability50. Which of the following is not included in the computation of the quick ratioa.inventory四、问答题：3．Differentiate between financial accounting and managerial accounting.财务会计与管理会计的区别。
会计专业英语期末考试练习卷new)
1. The economic resources of a business are called: BA.Owner’s EquityB.AssetsC.Accounting equationD.Liabilities2. DTK Company has a $3500 accounts receivable from GRS Company. On January 20, GRS Company makes a partial payment of $2100 to DTK Company. The journal entry made on January 20 by DTK Company to record this transaction includes: DA. A debit to the cash receivable account of $2100.B. A credit to the accounts receivable account of $2100.C. A debit to the cash account of $1400.D. A debit to the accounts receivable account of $1400.3. In general terms, financial assets appear in the balance sheet at: AA.Face value.账面价值B.Current value.现值C.Market value.市场价值D.Estimated future sales value.4. Each of the following measures strengthens internal control over cash receipts except: DA.The use of a voucher system.B.Preparation of a daily listing of all checks received through the mail.C.The deposit of cash receipts intact in the bank on a daily basis.D.The use of cash registers.5. Which of the following items is the greatest in dollar amount? DA.Beginning inventoryB.Cost of goods sold.C.Cost of goods available for saleD.Ending inventory6.Why do companies prefer the LIFO inventory后进先出法 method during a period of risingprices? BA.Higher reported incomeB.Lower income taxesC.Lower reported incomeD.Higher ending inventory7. Which of the following characteristics would prevent an item from being included in the classification of plant and equipment? DA.IntangibleB.Unlimited lifeC.Being sold in its useful lifeD.Not capable of rendering benefits to the business in the future.8. Which account is not a contra-asset account? BA.Depreciation ExpenseB.Accumulated DepletionC.Accumulated DepreciationD.Allowance for Doubtful Accounts9.What are the two factors that make ownership of an interest in a general partnership particularly risky? AA.Mutual agency and unlimited personal liabilityB.Limited life and unlimited personal liability.C.Limited life and mutual agency.D.Double taxation and mutual agency10. Which of the following types of business owners do not take an active role in the daily management of the business? DA.General partnersB.Limited liability partnersC.Sole proprietors 个体经营者D.Stockholders in a publicly owned corporation11. Analysts can use the footnotes to the financial statements to DA.Help their analysis of financial statementsB.Help their understanding of financial statementsC.Help their checking of financial statements.D.All of the above12. The current liabilities are $30 000, the long-term liabilities are $50 000, and the total assets are $240 000. What is the debt ratio? CA. 0.125B. 0.208C. 0.333D. 3.013. The horizontal analysis is used mainly to AA.Analyzing financial trendsB.Evaluating financial structureC.Assessing the pat performancesD.Measuring the term-paying ability14. Among the following ratios, which is used for long-term solvency analysis?长期偿债能力分析 AA.Current ratio 流动比率B.Times-interest-earned ratioC.Operating cycleD.Book value per share15. A profit-making business that is a separate legal entity and in which ownership is divided into shares of stock is known as a DA.Sole proprietorship 个体独资公司B.Single proprietorshipC.Partnership 合伙公司D.Corporation 股份有限公司一、名词解释(10分)(1) Journal entry：日记账Journal entry is a logging of transactions into accounting journal items. It can consist of several items, each of which is either a debit or a credit. The total of the debits must equal the total of the credits or the journal entry is said to be "unbalanced". Journal entries can record unique items or recurring items such as depreciation or bond amortization.(2) Going concern：持续经营 The company will continue to operate in the near future, unless substantial evidence to the contrary exists.(3) Matching principle：一致性原则(4) Working capital：营运资金(5) Revenue expenditure：收入费用二、会计业务（共35分）1. On December 1, ME Company borrowed $250 000 from a bank, and promise to repay that amount plus 12% interest (per year) at the end of 6 months.(1)Prepare the general journal entry to record obtaining the loan from the bankon December 1.(2)Prepare the adjusting journal entry to record accrual of the interest payableon the loan on December 31.(3)Prepare the presentation of the liability to the bank on ME’s December balancesheet.Answer:(1)D ebit: cash $250000Credit: current liabilities $250000(2)D ebit: Accrual Expense $5000 不确定Credit: Interest Payable $5000(3) P392. The following information relating to the bank checking account is available for Music Hall at July 31:Balance per bank statement at July 31 $20 0000Balance per depositor’s records 18 860 Outstanding checks 2 000Deposits in transit 800Service charge by bank 60Prepare a bank reconciliation银行对账工作 fro Music Hall at July 31.Answer:P423. Please prepare the related entries according to the following accounting events.1) Assume the Healy Furniture has credit sale of $1,200,000 in 2002. Of this amount, $200,000 remains uncollected at December 31. The credit manager estimates that $12,000 of these sales will be uncollectible. Please prepare the adjusting entry to record the estimated uncollectible.2) On March 1, 2003 the manager of finance of Healy Furniture authorizes a write-off of the $500 balance owed by Nick Company. Please make the entry to record the write-off.3) On July 1, Nick Company paid the $500 amount that had been written off on March 1.Answer:(1)D ebit: Uncollectible Accounts Expense坏账损失 $12000Credit: Allowance for Doubtful Accounts坏账准备 $12000(2)D ebit: Allowance for Doubtful Accounts $500Credit: Accounts Receivable $500(3)D ebit: Accounts Receivable $500Credit: Allowance for Doubtful Accounts $500Debit: Cash $500Credit: Accounts Receivable $500四、英译汉（40分）(1) Accounting principles are not like physical laws; they do not exist in nature, awaiting discovery man. Rather, they are developed by man, in light of what we consider to be the most important objectives of financial reporting. In many ways generally accepted accounting principles are similar to the rules established for an organized sport such as football or basketball.会计准则不像自然法则那样天生就存在等待人类去探索。
会计英语复习资料
会计英语复习资料会计英语期末复习资料⼀、单词1.accounting 会计学2.accounting elements 会计要素3.accounting equation 会计等式4.assets 资产5.liabilities 负债6.owner`s equity 所有者权益7.revenue 收⼊8.expenses 费⽤9.profits 利润10.accounting period 会计期间11.transaction 经济业务/会计事项12.double-entry system 复式记账法13.debit 借⽅14.credit 贷⽅15.ledger 分类账16.chart of accounts 会计科⽬表17.journal ⽇记账18.current assets 流动资产19.cash 现⾦20.cash equivalents 现⾦等价物21.check ⽀票22.bank deposits 银⾏存款23.cash in bank 银⾏存款24.money orders 汇票25.cash on band 库存现⾦26.accounts receivable 应收账款27.allowance for bad debts 坏账准备/doc/be38e1fd80eb6294dd886c5c.html realizable value 可变现净值29.inventory 存货30.finished goods 产成品31.semi-finished goods 半成品32.goods in process 在产品33.historical cost 历史成本34.specific identification 个别计价法35.first-in, first-out 先进先出法/doc/be38e1fd80eb6294dd886c5c.html st-in, first-out 后进先出法37.weighted average 加权平均法38.raw materials 原材料39.short-term investment 短期投资40.marketable securities 有价证券41.shareholder 股东42.bonds 债券43.debentures 债券44.long-term assets 长期资产45.fixed assets 固定资产46.intangible assets ⽆形资产47.deferred assets 递延资产/doc/be38e1fd80eb6294dd886c5c.html eful life 使⽤寿命49.depreciation 折旧50.depreciable amount 应计折旧额51.depreciation method 折旧⽅法52.estimated net residual value 预计净残值53.straight-line method 直线法54.units of production method ⼯作量法55.double declining balance method 双倍余额递减法56.sum-of-the-years-digits method 年数总和法57.amortization 摊销58.impairment 减值59.current liabilities 流动负债60.accounts payable 应付账款61.notes payable 应付票据62.unearned revenue 预收账款63.income taxes payable 应交所得税64.contingent liabilities 或有负债65.long-term liabilities 长期负债66.bonds payable 应付债券67.ownership 所有权68.sole proprietorship 独资企业69.partnership 合伙企业70.corporation 公司/doc/be38e1fd80eb6294dd886c5c.html mon shareholders 普通股股东72.preferred shareholders 优先股股东/doc/be38e1fd80eb6294dd886c5c.html mon stock 普通股74.preferred stock 优先股75.dividends 股利76.retained earnings 留存收益77.paid-in capital 实收资本78.capital stock 股本79.addtional paid-in capital 附加投⼊资本80.capital surplus 资本公积81.undistributed profit 未分配利润82.par value ⾯值83.fair value 公允价值84.reserve fund 盈余公积85.legal reserve 法定盈余86.stock split 股利分割87.cash dividends 现⾦股利88.stock dividends 股票股利89.sales revenue 销售收⼊90.service revenue 劳务收⼊91.product costs 产品成本92.direct material costs 直接材料成本93.direct labor costs 直接⼈⼯成本94.indirect costs 间接成本95.manufacturing overhead 制造费⽤96.period expenses 期间费⽤97.operating expense 营业费⽤98.administrative expense 管理费⽤99.finance expense 财务费⽤100.balance sheet 资产负债表101.income statement 利润表/损益表102.cash flow statement 现⾦流量表⼆、填空1. The accounting elements include , , , , , and .2. Liabilities are of a business.3. Borrowing cash from a bank does not belong to ; it simply belongs to liability.4. Profit is the of revenue over expenses for the accounting period.5. The accounting equation is : = + .6.“Dr.” stands for debits ,while “Cr.” is the abbreviation for .7. Liability, owner`s equity, revenue and profit decreases are recorded as .8. Short-term investments refer to various of .9. Marketable securities include and to be realized within one year from the balance sheet date and shall be accounted for at cost.10. Depreciation refers to the systematic allocation of the of a fixed asset over its useful life.11. The four common depreciation methods are .12. shall be employed when it is assumed that an asset`s economic revenue is the same each year, and the repair and maintenance cost is also the same for each period.13. When depreciation is mainly due to wear and tear, are usually used.14. The two types of intangible assets are finite and intangibles.15. Please name five most commonly seen intangibles , i.e., , , , , and .16. Intangible assets do not include internally generated , and .17. Intangible assets should be measured initially at .18. For intangible assets with finite useful lives enterprises shall consider their while intangible assets with indefinite useful lives shall not be amortized.19. The account of should be decreased when the service paid for in advancehas been provided.20. The account of should be recorded when the business purchased supplies on credit.21. The account of used to show what the business owes the bank.22. A corporation`s balance sheet contains assets, liabilities, and .23. and are the two common capital stocks issued by a corporation.24. and are the usual forms of distribution to share holders.25. A is a proportional distribution to shareholders of additional shares of the corporation`s common or preferred stocks.26. represents the corporation`s accumulated net income, less accumulated dividends and other amounts transferred to paid-in capital accounts.三、单选1. Matching each of the following statements with its poper term.(1) accounts receivable ( )(2) dishonored notes receivable ( )(3) allowance method ( )(4) direct write-off method ( )A. The method of accounting for un-collectible accounts that provides an expense for un-collectible receivables in advance of their write-off.B. A receivable created by selling merchandise or service on credit.C. A note that maker fails to pay on the due date.D. The method of accounting for un-collectible accounts that recognizes the expense only when accounts are judged to be worthless.2. At the end of the fiscal year, accounts receivable has a balance of $100000 and allowance for doubtful accounts has a balance of $7000, The expected net realizable value of the accounts receivable is ( )A. $7000B. $93000C. $100000D. $1070003. If merchandise inventory is being valued at cost and the price level is steadily rising, the method of costing that will yield the higher net income is ( )A.LIFOB.FIFOC.AverageD.Periodic4. Given the following information, which of the following accounting transactions is true?( )Gross payroll $20000Federal income tax withheld $4000Social security tax withheld $1600A. $1600 is recorded as salary expense.B. $14400 is recorded as salary payableC. The $1600 deducted for employee social security tax belongs to the companyD. Payroll is an example of an estimated liability5.If a corporation has outstanding 1000 shares of $9 cumulative preferred stock of $100 par and dividends have been passed for the preceding three years, what is the amount of preferred dividends that must be declared in the current year before a dividend can be declared on common stock?( )A. $9000B. $27000C. $36000D. $450006. All of the following are reasons for purchasing treasury stock except to ( )A. make a market for the stockB. increase the number of shareholdersC. increase the earnings per share and return on equityD. give employee as compensation7. Paid-in capital for a corporation may arise from which of the following sources?( )A. Issuing cumulative preferred stockB. Receiving donations of real estateC. Selling the corporation`s treasury stockD. All of the above8. Under the equity method, the investment account is decreased by all of the following except the investor`s proportionate share of ( )A. dividends paid by the investeeB. declines in the fair value of the investmentC. the losses of the investeeD. all of the options9. Cash dividends are paid on the basis of the number of shares ( )A. authorizedB. issuedC. OutstandingD. outstanding less the number of treasury shares10. The stockholders` equity section of the balance sheet may include ( )A. common stockB. preferred stockC. donated capitalD. all of the above11. Declaration and issuance of a dividend in stock ( )A. increases the current ratioB. decreases the amount of working capitalC. decreases total stockholders` equityD. has no effect on total assets, liabilities, or stockholders` equity12. If a corporation reacquires its own stock, the stock is listed on the balance sheet in the ( )A. current assets sectionB. long term liability sectionC. stockholders` equity sectionD. investments section13. A corporation has issued 25000 shares of $100 par common stock and holds 3000 of these shares as treasury stock. If the corporation declares a $2 per share cash dividend, what amount will be recorded as cash dividend?( )A. $22000B. $2500014. A company declared a cash dividend on its common stock on December 15, 2004, payable on January 12, 2005. How would this dividend affect shareholders` equity on the following dates? ( ) December 15, January 122004 2005A. Decrease. Decrease.B. No effect. No effect.C. No effect. No effect.D. Decrease. Decrease.15. An example of a cash flow from an operating activity is ( )A. the receipt of cash from issuing stockB. the receipt of cash from issuing bondsC. the payment of cash for dividendsD. the receipt of cash from customers on account16. An example of a cash flow from an investing activity is ( )A. the receipt of cash from the sale of equipmentB. the receipt of cash from issuing bondsC. the payment of cash for dividendsD. the payment of cash to acquire treasury stock17. An example of a cash flow from a financing activity is ( )A. the receipt of cash from customers on accountB. the receipt of cash from the sale of equipmentC. the payment of cash for dividendsD. the payment of cash to acquire marketable securities18. A receivable created by selling merchandise or services on credit. ( )A. accounts receivableB. dishonored notes payableC. allowance methodD. direct write-off method19. At the end of the fiscal year, accounts receivable has a balance of $100000 and allowance for doubtful accounts has a balance of $7000. The expected net realizable value of the accounts receivable is ( )A. $7000B. $93000C. $100000D. $10700020.( ) are valuable resources owned by the entity.C. EquityD. None of them21. Which is intangible asset ( )A. internally generated goodwillB. internally generated publishing titlesC. franchises and licenseD. internally generated brands22.( ) shall be employed when it is assumed that an asset`s economic revenue is the same each year, and the repair and maintenance cost is also the same for each period.A. straight-line methodB. units of production methodC. double declining balance methodD. sum-of-the-years-digits(SYD) method四、判断1. Fixed assets are intangible assets. ( )2. Internally generated goodwill can be viewed as intangible assets. ( )3. Land doesn`t need depreciation and is considered to have an infinite life. （）4. Fixed assets are usually subjected to depreciation. ( )5. Bonds and stocks are classified as intangible assets.( )6. Once the expected useful life and estimated net residual value are determined, they shall not be changed under any circumstances.( )7. When a corporation issues one type of capital stocks, common stocks are always issued. ( )8. Par value is strictly a legal matter, and it establishes the legal capital of a corporation. ( )9. The balance of the additional paid-in capital account represents a gain on the sale of stocks and increases net income. ( )10. A corporation must, by law, pay a dividend once a year. ( )11. Dividends are an expense of a corporation and should be charged to the periodic income. ( )12. Revenue increase owner`s equity. ( )13. Revenue is recognized when we receive cash from the buyers. ( )14. Advertising expense is usually collected as period expense. ( )15. Interest revenue should be measured based on the length of time. ( )16. If revenue exceed expenses for the same accounting period, the entity is deemed to suffera loss. ( )17. Asset = liabilities + Expense. ( )18. Liabilities are debts of a business. ( )19. Borrowing cash from a bank belongs to revenue. ( )20. Increase in asset is recorded in credit side. ( )21. When depreciation is mainly due to wear and tear, straight-line method shall be employed. ( )22. Bonds payable belong to current liabilities.( )23. All fixed assets are depreciable over their limited useful life.( )24. Fixed assets are intangible assets. ( )25. Internally generated goodwill can be viewed as intangible assets. ( )26. Land doesn`t need depreciation and is considered to have an infinite life. ( )五、翻译1. Accounting contains elements both of science and art. The important thing is that it is not merely a collection of arithmetical techniques but a set of complex processes depending on and prepared for people.2. Inventories refer to merchandise, finished goods, semi-finished goods, goods in process, and all kinds of materials, fuels, containers, low-value and perishable articles and so on that stocked for the purpose of sale, production or consumption during the production operational process, Inventories are normally accounted for at historical cost, as the cost principle requires. Normally, a company may account inventories under the following methods:(1)Specific identification (2)first-in, first-out(FIFO) (3)last-in, first-out(LIFO) (4)weighted average3. In contrast to current assets, long-term assets refer to those assets that will be realized or consumed within a period longer than one year of their acquisition, which are normally divided into fixed assets, intangible assets and deferred assets.Fixed assets refer to the assets whose useful life is over one year, unit value is above the prescribed criteria and where original physical form remains during the process of utilization.4. Depreciation is defined as the accounting process of systematically allocating the depreciable amount of a fixed asset over its useful life by a selected depreciation method. When calculating the depreciation expense of a fixed asset, an enterprise should consider its depreciable amount,estimated net residual value, estimated useful life, and the depreciation methods.5. The amount of retained earnings represents the cumulative net income of the firm since its beginning, less the total dividends that have been distributed to shareholders. It is important to note that retained earnings are not the assets, but the existence of retained earnings means that net assets generated by profitable operations have been kept in the company to help it grow or to meet other business needs. However, a credit balance in Retained Earnings does not mean that cash or any designated set of assets is directly associated with retained earnings. The fact that earnings have been retained means that net assets as a whole have been increased.6. In China, companies must provide “legal reserve.”Today in USA, appropriations of retained earnings are seldom seen on balance sheets.7. Revenue is the gross inflow of economic benefits arising in the course of the ordinary activities of an enterprise from such events as the sale of goods, the rendering of service and the use of enterprise by others. Revenue growth is an important indicator of the market reception of a company`s products and services.8. Sales revenue arises from the sale of goods.Service revenue arises from the rendering of services.9. Expenses refer to the outlays incurred by an enterprise in the course of production and operation. It means the outflows or other using up of assets or incurrence of liabilities during a period. According to the relationship with products, we can divide expenses into two categories: product costs and period expense.Product costs are directly related to the products, which are composed of direct material costs, direct labor costs and the indirect costs.10. Period expenses are not directly associated with products, but they are indispensable for generating the current revenue.11. A balance sheet is a summary of a company`s balances. Assets, liabilities and owner`s equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a snapshot of a company`s financial condition.12. The income statement is a financial statement that summarizes the results of a company`s operation by matching revenue and related expenses for a particular accounting period. It shows the net income or net loss. It is also called earnings statement, statement of operations, and profit and loss statement.13. The cash flow statement is a financial statement that reports the cash receipts and cash payments of an entity during a particular period. The term cash refers not only to the bills and coins we normally think of as cash, but also to cash equivalents. Cash equivalents are highly liquid short-term investment that can easily and quickly be converted into cash, usually with maturity of three months or less at the date of purchase.The cash flows of an entity usually come from cash flows from operating activities, cash flows from investing activities, and cash flows from financing activities.14. Assets are economic resources that are possessed or controlled by an enterprise to generate revenue to the enterprise. Assets of an enterprise are usually divided into the following categories: current assets, long-term investment, fixed assets, intangible assets and other assets. Current assets are assets that will be realized or consumed within one year or within an operating cycle. Typical current assets include cash, bank deposit, accounts receivables and so on. Cash is listed first of all current assets because it is the most liquid of all assets.15. Long-term liabilities are obligations of business that are due to be paid after one year or beyond the operating cycle, whichever is longer. Decisions related to long-term debt are critical because how a company finances its operations is the most important factor in the company`s long-term liability. The amount and type of debt a company incurs depends on many factors, including the nature of the business, its competitive environment, the state of the financial markets, and the predictability of its earnings.六、业务题1.（1）According to the above information, use weighted-average method and the ending inventory should be（2）According to the above information, use LIFO method, the most assigned to the sold should be（3）According to the above information, use FIFO method, the cost assigned to the sold should be（4）According to the above information, use LIFO method, the cost assigned to the ending inventory is2.(1)On June 5, K. Company purchased $6000 of inventory, paying cash.(2)On June 10, K. Company received $10000 of good sales.(3)On June 12, K. Company paid $5000 in salaries by bank deposit.(4)Bought office furniture from Simple Company on account, $30000(5)On June 30, K. Company paid $10000 to Simple Company on account.3. Record each transaction in the accompanying account of L & T Co.(1) Bought supplies on account for $600.(2) Bought equipment for $2700, paying one third down and owing the balance.(3) Gave a note in settlement of transaction (2).(4) Received $500 as an income.4. Record the following entries in the general journal for Stephens Cleaning Company.(1) Invested $10000 cash in the business.(2) Paid $2000 for office furniture.(3) Bought equipment costing $6000 on account.(4) Received $2200 in cleaning income.(5) Paid a quarter of the amount owed on the equipment.5.(1)Accounting to the following information, use weighted-average method and the ending inventory should be(2)Using the information from question(1), the LIFO method, the cost assigned to the ending inventory is6.Assuming that net purchase cost $250000 during the year and that the ending stock was $4000 less than the beginning stock of $30000, the cost of goods would be7. Emily started her business-Emily`s Bakery. The transaction in the year of 2008 are as follow.(1) Emily contributed $10000 in cash.(2) The company borrowed $3000 from a bank.(3) The company purchased equipment for $5000 cash.(4) The company performed service for $12000. The customer paid $8000 in cash and promised to pay the rest amount at a later date.(5) The company paid $9000 for expenses (wages, interest and maintenance)(6) The company paid dividend of $1000.The balance sheet of Emily`s bakeryDecember31, 2008Current Assets Current LiabilitiesLong-term Assets Long-term LiabilitiesOwner`s equityTotal Assets Total Liabilities and Owner`s Equity七、例题1.1 During the month of January, Ted Lott, a lawyer(1) Invested $8000 to open his practice.(2)Bought office supplies (stationery, forms, pencils, and so on)for cash, $700.(3) Bought several pieces of office furniture from Ferraro Furniture Company on account, $2000.(4) Receive $3500 in service fees earned during the month.(5) Paid office rent for January, $600.(6) Paid salary for part-time help, $800.(7) Paid $1600 to Ferraro Furniture Company on account.(8) After taking inventory at the end of the month, Lott found that he had used $200 worth of supplies.(9) Withdrew $470 for personal use.2.1 ABC Company had the following transaction in 2007.(1) Recognized $5000 of sales revenue earned on account.(2) Collected $3000 cash from accounts receivable.(3) Recognized $500 of bad debt expense for accounts receivable that are expected to be un-collectible in the future.2.3 Assume that ABC Company is a listed company. Simple buys 10000 shares of ABC Company`s common stock in New York Securities Exchange on November 1, 2007, at the price of $20 per share.2.4 (1) Assume that, on March 15, 2008, ABC company declared that they decided to give dividends at S3 per common stock. Thus, Simple Company would receive $30000 of dividend. At this time the cash was not given but an accounting record was requested.(2) On April, Simple Company received $30000 of cash dividend. So they need a new accounting record.4.1 Simple Company buys goods for $50000 on credit. The journal entry in Simple Company`s accounting records for this transaction.4.2 (1) On March 1, Simple Company borrows $40000 from its bank for a period of six months at an annual interest rate of 10%. Six months later on September 1, Simple Company will have to pay the bank the principal amount of $40000 plus $2000 interest. As an evidence of this loan, the bank requires Simple Company to issue a note payable. The journal entry in Simple Company`s accounting records for this March 1 borrowing is as follow.(2) Borrowed $40000 for six months at 10% interest per year.(3) The entry on September 1 to record payment of the note will be as follow.4.3 (1) Simple Company signed up a contract with another company to perform services. Simple Company received an advanced cash payment in the amount of $20000 and the term of the contract was one month. The transaction acts to increase assets (cash) and liabilities (unearned revenue). The journal entry in Simple Company`s accounting records for this transaction is as follow.(2) At this time, Simple Company received cash but didn`t perform the services. So the cash of $20000 was not the real revenue. Only when Simple Company performed the services, a new journal entry would be made in the follow.4.4 Bonds issued at a discountAssume that ABC Company plans to issue $1000000 face value of 10%, 10-year bonds. At the issuance date of May 1, the going market rate of interest is slightly above 10% and the bonds sell at a market price of only $950. The issuance of the bonds will be recorded by the following entry.4.5 In this example, the discount on bonds payable has a beginning debit balance of $50000. Each year $5000 will be amortized into Bond Interest Expense.Assuming that the interest payment dates are October 31 and April 30, the entries to be made each six months to record bond interest expense are as follow.(1) Paid semi-annual interest on $1000000 of 10%, 10-year bonds.(2) Amortized discount for six months on 10-year bond issue ($50000/20=$2500)5.1On January 1, Joan Adams and Richard Brown decide to form a partnership by consolidating their two retail stores. A capital account will be opened for each partner and credited, with the agreed valuation of the net assets that the partner contributes. The journal entries to open the accounts of the partnership of Adams and Brown are as follow.(1) To record the investment by Joan Adams in the partnership of Adams and Brown.(2) To record the investment by Richard Brown in the partnership of Adams and Brown.(3) After six months of operation the firm is in need of more cash, and the partners make additional investments of $10000 each on July 1. These additional investments are credited to the capital accounts as shown below.5.3 Adams and Brown have agreed to share profits equally. Assuming that the partnership earns net income of $60000 in the first year of operations, the entry to close the income summary account is as follow.(1) To divide net income for the year in accordance with partnership agreement to share profits equally.The next step in closing the accounts is to transfer the balance of each partner`s drawing account to his capital account. Assuming that withdrawals during the year amounted to $24000 for Adams and $16000 for Brown, the entry at December 31 to close the drawing accounts is as follow.(2) To transfer debit balances in partner`s drawing accounts to their respective capital accounts.5.4 The issuance of 100000 shares of common stock, par $1, for cash of $1.2 per share would be recorded as follow.5.5 Assume that a corporation issues 10000 shares of no-par common stock at $40 a share and ata later date issues 1000 additional shares at $36. The entries to record the no-par stock are as follow.(1) Issued 10000 shares of no-par common stock at $40.(2) Issued 1000 shares of no-par common stock at $36.5.6 Assume that a corporation has a balance of $300000 in retained earnings and 50000 shares of $10 par value common stock. The current fair market value of its stock is $15 per share.(1) If the corporation declares a 10% stock dividend, the entry to record this transaction at the declaration and payment date is as follow.(2) If the corporation declares a 40% stock dividend, the entry to record this transaction at the declaration and payment date is as follow.5.7 Assume that on December 1,2005, the directors of A corporation declare a 40 cents per share cash dividend on 100000 shares of $10 par value common stock. The dividend is $40000 (100000*0.4).(1) the entry to record the declaration is as follow.(2) At the end of the year, the dividends account is closed to retained earnings by the following entry.⼋、附加题1.Whether an account is to be debited or credited depends on the accounting elements. By convention, increases in assets and expenses are recorded as debits, whereas increases in liability, owner`s equity, revenue and profit are recorded as credits. Assets and expense decreases are recorded as credits, whereas liability, owner`s equity, revenue and profit decreases are recorded as debits.2.In an accounting system, a separate account is designated for each asset, each liability, and each component of owner`s equity, including revenues and expenses. That`s to say, accounts are grouped according to accounting elements. These groups of accounts are called the ledger.3. The chart of accounts is a listing of the accounts by title and number. Assets and liability accounts are arranged according to their liquidity. While income, expense and owner`s equity accounts are listed according to their importance.4.A business`s accounts receivable are the amounts that its customers owe it and these accounts receivable are sometimes called trade creditors.Allowance for bad debts is the estimated amount of accounts receivable that will not be collected.The net realizable value is the amount that a company is actually expecting to get in the future. Net realizable = accounts receivable — allowance for bad debts4. Short-term investments refer to various marketable securities, which can be realized at any time and will be held less thana year, as well as other investment with a life of no longer thana year.。
会计英语期末知识点
会计英语期末知识点会计是一门涉及财务和商业运作的重要学科，它有着自己独特的术语和词汇。
在学习会计的过程中，了解和掌握会计英语是非常重要的。
下面将介绍一些会计英语的常见知识点。
1. 会计基础词汇会计英语中有一些基础的词汇需要掌握，比如：“accounting”（会计）、“asset”（资产）、“liability”（负债）、“revenue”（收入）和“expense”（费用）等。
这些词汇是会计学中的基本概念，理解它们有助于理解会计的核心原则和概念。
2. 财务报表财务报表是记录和反映企业财务状况和经营成果的重要工具。
在会计英语中，有一些词汇和短语与财务报表相关。
- "balance sheet"（资产负债表）: 显示企业在特定日期的资产、负债和股东权益。
- "income statement"（利润表）: 描述企业在一定期间内的收入、费用和利润情况。
- "statement of cash flow"（现金流量表）: 汇报企业现金流动的进出情况。
- "financial statement analysis"（财务报表分析）: 通过对财务报表进行分析，评估企业的财务状况和经营表现。
了解这些词汇和短语有助于理解和解读财务报表。
3. 会计准则会计准则是规范会计行为的准则和原则，它们对财务报表的编制和披露提供了一套标准规范。
会计准则在不同国家和地区可能有所不同，但有一些国际通用的准则，如国际财务报告准则（IFRS）。
- "generally accepted accounting principles"（普遍认可的会计准则，简称GAAP）: 是一套被广泛接受而通用的会计准则，用于编制和呈报财务报表。
- "International Financial Reporting Standards"（国际财务报告准则，简称IFRS）: 是国际会计准则委员会（IASB）制定的一套国际会计准则，广泛应用于世界各国的财务报告编制。
会计英语期末总复习
会计英语单元题第一章Answer of these questions appears at the end of lesson cases.1.Which of the following statements is false?____A____.A.The partnership form of business organization protects the personal assets ofthe owners from creditors of the businessB. A proprietorship has a single ownerC.Accounting is the information system that measures business activities,processes that information into reports, and communicates the results to decision makersD.The FASB determines how accounting is practiced in the United States2.The primary objective of financial reporting is _______C_.A.to present information in an ethical mannerB.to provide information to the federal governmentC.to provide information useful for investment and lending decisionsD.to provide information useful to managers in making daily decisions3.The principle or concept that holds that an entity will remain in operation for theforeseeable future is the_____A____.A.going-concern conceptB.stable-monetary-unit conceptC.reliability principleD.cost principle4.Which of the following statements is true?___B_____.A.Revenues are assets because they represent economic benefitsB.Assets are economic resources that are expected to benefit future periodsC.The accounting equation can be stated as Assets +Liabilities =Owner’s EquityD.Liabilities are economic obligations to insiders5.Aftin Co. performed services on account. When Aftin collects the accountreceivable, ____B____.A.assets increaseB.assets do not changeC.owner’s equity decreasesD.liabilities decrease6.Which of the following trans actions would not affect ower’s equity?___A_____.A.Payment of an account payableB.Payment of salary expenseC.Service provided on accountD.Withdrawal of cash by owner7.An income statement reports___D______.A.The assets, liabilities, and owner’s equity on a pattic ular dateB.the change in the owner’s capital during the periodC.the cash receipts and cash payments during the periodD.the difference between revenues and expenses during the period8. If assets increase $80000 during the period and owner’s equity decreases $16000during the period, liabilities must have___B______.A. increased $64000B. increased $96000C. decreased $64000 \D. decreased $960009.The following information about the assets and liabilities at the end of 20*1 and 20*2 is given below:20*1 20*2Assets $75000 $90000Liabilities 36000 45000If net income was $15000 and there were no withdrawals, how much did the owner invest____A___.A.$ 4500B.$ 6000C.$ 45000D.$ 4350010.The amount of net income shown on the income statement also appears on the ______C__.A. statement of financial positionB. balance sheetC. statement of owner’s equityD. statement of cash flows第二章1.Which of these is (are) an example of an asset account? ___C___A.Service RevenueB.WithdrawalsC.SuppliesD.All of the above2.Traylor Company paid $ 2 850 on account. The effect of this transaction on theaccounting equation is to __D___.A.Decrease assets and d ecrease owner’s equityB.Increase liabilities and decrease owner’s equityC.Have no effect on total assetsD.Decrease assets and decrease liabilities3.Which of these statements is false? __A____.A.Increase in assets and increase in revenues are recorded with a debitB.Increase in liabilities and increases in owner’s equity are recorded with acreditC.Increase in both assets and withdrawals are recorded with a debitD.Decreases in liabilities and increases in expenses are recorded with a debit4.Not Payable has a normal beginning balance of $ 30 000. During the period, newborrowings total $ 63 000 and the ending balance in Notes Payable is $ 41 000.Determine the payments on loans during the period. __B___.A.$ 74 000B.$ 52 000C.$ 134 000D.Cannot be determined from the information given5.Which of these statements is not correct? __C___.A.The account is a basic summary device used in accountingB. A business transaction is recorded first in the journal and then posted to deledgerC.The ledger is a chronological listing of all transactionsD.The debit entry is recorded first in a journal entry , then the credit entry6.Which of these accounts has a normal debit balance? ___D___.A.Rent ExpenseB.WithdrawalsC.Service RevenueD.Both A and B have a normal debit balance7.The journal entry to record the collection of $ 890 from a customer on account is___B___.A. Accounts Payable 890Cash 890B. Cash 890Account Receivable 890C. Cash 890Accounts Payable 890D. Cash 890Service Revenue 8908.The ending Cash account balance is $ 57 600. During the period, cash receiptsequal $ 124 300. If the cash payments during the period total $ 135 100, then the beginning Cash amount must have __A____.A.$ 68 400B.$ 46 800C.$ 181 900D.Cannot be determined from the information givene the following selected information for the Alecia Company to calculate thecorrect credit column total for a trial balance ___C___.Accounts receivable $ 7 200Accounts payable 6 900Building 179 400Cash 15 800Capital 64 000Insurance expense 6 500Salary expense 56 100Salary payable 3 600Service revenue 190 500A.$ 201 000B.$ 137 100C.$ 265 000D.$ 74 50010.Which of the following statements is correct? ____D___.A.The chart of accounts is a list of all accounts with their balancesB.The trial balance is a list of all accounts with their balances, divided as debitor creditC.The ledger is maintained in chart-of-accounts orderD.Both B and C are correct第三章1.When should revenue be recorded under the accrual-basis and cash-basis ofaccounting? ____D___Accrual-Basis Cash-BasisA.When received When the service is performedB.When the service is performed When the customer is billedC.When the customer is billed When receivedD.When the service is performed When received2.During 20*4, Bustamante Co. incurred salary expense of $240,000.Begining andending Salary Payable was $4,000 and $ 8,000 , respectively. In 20*4,Bustamante paid salaries of ____C___A.$ 248,000B.$ 240,000C.$ 236,000D.$244,0003.During 20*4, Bustamante received $ 600,000 for service revenue. Bustamante hasnot received $ 30,000 for service already performed in 20*4, Bustamante also invested $ 20,000 into the business. Bustamante should report service revenue for 20*4 of ____D___A.$ 550,000B.$570,000C.$580,000D.$630,0004.Recording an expense when it is paid instead of when incurred is a violation of____C___A.The matching principleB.The time period conceptC.The reliability conceptD.The revenue principle5.On July 31, $3,600 is paid for a one-year insurance policy. On December 31,theadjusting entry for prepaid insurance would include ____C___A.a debit to Insurance Expense, $ 3,600B.a credit to Prepaid Insurance, $ 3,600C.a debit to Insurance Expense, $ 1,500D.a credit to Prepaid Insurance, $ 1,5006. Failure to record an adjusting entry for an accrued expense , will result in the following____B___Liabilities Net IncomeA. no effect understateB. understate overstateC. overstate understateD. understate no effect7. An adjusting entry could contain all of the following except___B___A. a debit to Unearned RevenueB. a credit to CashC. a debit to Interest ReceivableD. a credit to Salary Payable8. The 20*3 income statement showed Rend Expense of $ 6,100. The related balance sheet account, Prepaid Rent, had a beginning balance of $ 1,400 and a ending balance of $ 1,200. The amount of cash paid for rent during 20*3 is (D )A. $ 6,100B. $ 1,200C. $ 6,300D. $ 5,9009. Refer to Exhibit 3-2. The credit column of the adjusted trial balance should total ___C___A. $ 45,300B. $ 49,300C. $ 49,500D. $ 51,10010. Refer to Exhibit 3-2.Assume the net income is $ 8,000. The ending balance of Lemon, Capital should be ___A__A. $ 17,600B. $ 15,600C $ 13,600D. $ 2,000第四章1.which of the following statements best describes the purpose of internal control ? __C____A. To provide assurance that the entire business operates in accordance with management ’s plans and policiesB To prevent fraudC. To ensure that expenses and cash outlays are held to a minimumD. To provide adequate subdivision of duties within the organizationThe Data Co. has asked you to assist in the preparation of a bank reconciliation at the end of July. Answer questions 2-4 using the following code letters to indicate how the item described would be reported on the bank reconciliation.a.Add to the book balanceb.Add to the bank balancec.Deduct from the bank balanced.Deduct from the book balancee.Dose not belong to the bank reconciliation2. Note and interest collected by the bank of the company ,$500(plus $25 interest).____A__3. Deposit in transit ,$400___B___4. Check No.662 for which should have been written for $730 was incorrectly recorded by the bank as $370.____C__.5 If a bank reconciliation include an NSF check for $45, the journal entry to record this reconciliation item would include ___A___.A.credit to CashB.debit to CashC.credit to Accounts ReceivableD.no entry is required6. All of the following are controls over cash received in a store except ____C___.A. the clerk should have access to the cash register tape to make corrections when necessaryB. the customer should be able to see the amounts entered into the registerC it should be a requirement that a receipt be given to the customerD. the cash drawer should open only when the sale clerk enters an amount on the keys7. Which of the following statements related to receivables is true ? ___C___A. On the balance sheet , accounts receivable are usually reported as total accounts receivable plus the allowance for uncollectible accountsB A dishonored notes receivable should be shown as a current liabilityC. When a notes receivable is not paid at maturity, the principal plus any interest due should be charged back to the cus tomer’s accounts receivableD When a customer overpays his accounts receivable ,the resulting balance should be properly shown among the long-term (noncurrent) assets on the balance sheet8. Cox Company began the month of July with a balance in Accounts Receivable of $51600.During July , Cox reported cash sales of $50000, credit sales on account of $228000, collections from customers on account , $201400 , and write-offs of $750.Uncollectibe-Account expense for July was estimated to be 1% of credit sales . The balance in Account Receivable on July 31 is ___A____.A. $ 77450B $ 75170C. $ 75920D $ 80550accounts receivable ).___D___.A. 41 daysB. 11 daysC. 33 daysD. 37 days10. Refer to Exhibit 4-1. Compute the acid-test ratio ___B____.A. 0.31B 0.57C. 0.13D. 0.27第五章1.The weighted average for the year inventory cost flow methostd is applicable towhich of the following inventory systems? ___B____.Periodic PerpertualA. Yes YesB. Yes NoC. No YesD. No No2.The LIFO inventory cost flow method may be applied to which of the following inventory systems? ___C____.Periodic PerpertualA. No NoB. No YesC. Yes YesD. Yes No3.Crow Company bagan a year and purchased merchandise as follows:Jan.1 Beginning inventory 40 units @ $ 17.00Feb.4 Purchased 80 units @ $ 16.00May.12 Purchased 80 units @ $ 16.50Aug.9 Purchased 60 units @ $ 17.50Nov.23 Purchased 100 units @ $ 18.00The company uses a periodic inventory system and the ending inventory consists of 60 units ,20 from each of the last three purchases. Determine the ending inventory assuming costs are assigned on a weighted-average basis. ___D____A.$1000.00C.$1040.00C.$1080.00D.$1022.004.A Company uses a periodic inventory system and made an error at the end of year I that caused its year I ending inventory to be understated by $ 5000.What effect does this error have on the company’s financial statements? ___A___ income is understated;assets are understated income is understated;assets are overstated income is overstated;assets are understated income is overstated;assets are overstated5.ABC Company estimates the cost of its physical on June 30,20*2 for use in an interim financial statement.The rate of markup on cost is 25%.The following account balances are available:Inventory,March 31,20*2 $150000Purchases 86000Purchases returns 4000Sales during the second quarter of 20*2 190000The estimate of the cost of the inventory on June 30 would be ___C____.A.$80000B.$88000C.$89500D.$1845006.Which of the following factors would not be considered in the selection of LIFO as an inventory costing method? ___C____.A.Tax benbefitsB.MatchingC.Physical flowD.Improved cash flow7.Which of the following methods of inventory valuation is allowable at interim dates but not at year-eng? __B____A.Weighted averageB.Estimated gross profit ratesC.Retail methodD.Specific identication8.Dart Company’s accounting records indicated the followi ng information: Inventory,1/ 1/20*2 $ 500000Purchases during 20*2 2500000Sales during 20*2 3200000A physical inventory taken on December 31,20*2,resulted in an ending inventory of $ 575000.Dart’s gross profit on sales has remained constant at 25% in recent years.Dart suspects some inventory may have been taken by a new employee.At December 31,20*2,what is the estimated cost of missing inventory? __A____A.$ 25000B.$ 100000C.$ 175000D.$ 2250009.Which of the following is not affected by the inventory valuation method used by a business? __C____A.Amounts owed for income taxesB.Cost of merchandise soldC.Amounts paid to acquire merchandise income of the business10.Under the retail inventory method,freight-in would be included in the calculation of the goods available for sale for which of the following? __C____Cost RetailA. No NoB. No YesC. Yes NoD. Yes Yes会计英语业务题1.The following selected transactions were completed by Castell Delivery SeeviceduringNovember :(1) Received cash from owner as additional investment , $20 000(2) Paid advertising expense , $ 520(3) Purchased supplies of gas and oil for cash $ 780(4) Received cash from cash customers , $ 1 500(5) Charged customers for delivery services on account , $ 2 100(6) Paid creditors on account , $ 470(7) Paid rent for November , $ 1 000(8) Received cash from customers on account , $ 1 810(9) Paid cash to owner for personal use , $ 900(10) Determined by taking an inventory that $ 650 of supplies of gas and oil hadbeen used during the monthIndicate the effect of each transactions on the accounting equation by listing the numbers identifying the transactions , (1) through (10) ,in a vertical column , and inserting at the right of each number the appropriate letter from the following list :(a)Increase in one asset , decrease in another asset(b)Increase in an asset , increase in a liability(c)Increase in an asset , increase in capital(d)Decrease in an asset , decrease in a liability(e)Decrease in an asset , decrease in capital2.Prepare the following columnar form . Then enter the word debit or credit in eachof the last three columns to indicate the action necessary to increase the account , to indicate the action necessary to decrease the account , and to show the normal3.Ora Company’s two employees each earn $ 90 per day for a four day week thatbegains on Monday and ends on Thursday . They were paid for the week ended Thursday , December 27 and both worked a full day on Monday , December 31 .January 1 of the next year was an unpaid holiday ,but the employees all worked on Wednesday and Thursday , Journalize the year-end adjusting entry to record the accrued wages and the entry to pay the employees on January 3 .4. Botello Company began operations on January 1,20×2. During the next two years , the company completed a number of transactions involving credit sales, accounts receivable collections ,and bad debts. These transactions are summarized as follows :20×2a . Sold merchandise on credit for $54 500, terms n/60.b. Wrote off uncollectible accounts receivable in the amount of $850.c. Received cash of $45100 in payment of outstanding accounts receivable.d. In adjusting the accounts on December 31 , concluded that 2% of the outstandingaccounts receivable would become uncollectible .20×3e. Sold merchandise on credit for $ 67 800, terms n/60.f. Wrote off uncollectible accounts receivable in the amount of $1280.g. Received cash of $65 900 in payment of outstanding accounts receivable , Inadjusting the accounts on December 31 , concluded that 2% of the outstanding accounts receivable would become uncollectibleRequired:Prepare general journal entries to record the 20×2 and 20×3 summarized transactions of Botello Company and the adjusting entries to record bad debts expense at the end of each year,5. The following information is available for Carson ,Inc. for 20×2:Freight-in $20 000 Purchase returns 70 000Selling expenses 200 000Ending inventory 80 000The cost of goods sold is equal to 600 percent of selling expenses.:Required:Calculate the cost of goods available for sale.6.The accounting records of Classic Stores provides the following information for 20×2Beginning inventory $120 000 Purchases 790 000 Transportation-in 45 000Purchases discounts 15 000 Purchases returns and allowances 10 000 Ending inventory 130 000 Requireda.Calculate the inventory turnover ratio for 20×2 .b. If asked by management, how would you interpret the ratio that you calculated?1.posting2.revenues3.cash flow statement4.GAAPs5.chart of accounts6.debit and credit rules7. accrual accounting8. depreciation9. trial balance10.retailers11.perpetual inventory system12.liquidity1.Please state the types of accountants.2.What are the transaction recorded using debits？3.What are the steps in closing？4. Please tell us what about vouchers.5.How to account for sales using net method？6.What are the objectives of cash management？Answers1.2.3.4.5.6. In the double-entry accounting system, every transaction is recorded by equal dollar amounts of debits and credits.7.8.9.10.11.12.1.2.3.4.5.6.。
会计专业英语复习资料10页word文档
会计专业英语复习资料一、短语中英互译1、会计分录2、投资活动3、后进先出法4、客观性原则5、注册会计师6、权责发生制7、累计折旧8、资产负债表9、经营决策10、银行存款11、到期日12、历史成本13、source document14、nominal rate15、credit sale16、sum-of-years-digits method17、economic entity assumption18、financial position19、fixed assets20、public hearing21、income statement22、sales discount23、value added tax24、trade mark25、bank overdraft二、从下列选项中选出最佳答案1、Generally，revenue is recorded by a business enterprise at a pointwhen ：( )A、Management decides it is appropriate to do soB、The product is available for sale to consumersC、An exchange has taken place and the earning process isvirtually completeD、An order for merchandise has been received2、Why are certain costs capitalized when incurred and then depreciated or amortized over subsequent accounting periods？( )A、To reduce the income tax liabilityB、To aid management in making business decisionsC、To match the costs of production with revenue as earnedD、To adhere to the accounting concept of conservatism3、What accounting principle or concept justifies the use of accruals and deferrals？( )A、Going concernB、MaterialityC、ConsistencyD、Stable monetary unit4、An accrued expense can best be described as an amount ( )A、Paid and currently matched with revenueB、Paid and not currently matched with revenueC、Not paid and not currently matched with revenueD、Not paid and currently matched with revenue5、Continuation of a business enterprise in the absence of contrary evidence is an example of the principle or concept of ( )A、Business entityB、ConsistencyC、Going concernD、Substance over form6、In preparing a bank reconciliation，the amount of checks outstanding would be：( )A、added to the bank balance according to the bank statement.B、deducted from the bank balance according to the bank statement.C、added to the cash balance according to the depositor’s records.D、deducted from the cash balance according to the depositor’srecords.7、Journal entries based on the bank reconciliation are requiredfor：( )A、additions to the cash balance according to the depositor’srecords.B、deductions from the cash balance according to the depositor’srecords.C、Both A and BD、Neither A nor B8、A petty cash fund is ：( )A、used to pay relatively small amounts。
会计专业英语期末试题及答案
会计专业英语期末试题及答案1、In many cities, a low-carbon lifestyle has become（）. [单选题] *A. more popular and more popularB. more and more popular(正确答案)C. the most popularD. most and most popular2、We all wondered（）Tom broke up with his girlfriend. [单选题] *A. thatB. whatC. whoD. why(正确答案)3、He went to America last Friday. Alice came to the airport to _______ him _______. [单选题] *A. take; offB. see; off(正确答案)C. send; upD. put; away4、The rain is very heavy _______ we have to stay at home. [单选题] *A. butB. becauseC. so(正确答案)D. and5、______! It’s not the end of the world. Let’s try it again.（）[单选题] *A. Put upB. Set upC. Cheer up(正确答案)D. Pick up6、--_______ do you have to do after school?--Do my homework, of course. [单选题] *A. What(正确答案)B. WhenC. WhereD. How7、39．—What do you ________ my new dress?—Very beautiful. [单选题] * A．look atB．think aboutC．think of(正确答案)D．look through8、They may not be very exciting, but you can expect ______ a lot from them.（）[单选题] *A. to learn(正确答案)B. learnC. learningD. learned9、The hall in our school is _____ to hold 500 people. [单选题] *A. big enough(正确答案)B. enough bigC. very smallD. very big10、What do you think of the idea that _____ honest man who married and brought up a large family did more service than he who continued single and only talked of _____ population. [单选题] *A. a, /B. an, /C. a, theD. an, the(正确答案)11、20．Jerry is hard-working. It’s not ______ that he can pass the exam easily. [单选题] * A．surpriseB．surprising (正确答案)C．surprisedD．surprises12、You wouldn't have seen her if it _____ not been for him . [单选题] *A. hasB. had(正确答案)C. haveD．is having13、My home is about _______ away from the school. [单选题] *A. three hundred metreB. three hundreds metresC. three hundred metres(正确答案)D. three hundreds metre14、30．I want to find ______ and make much money. [单选题] *A．worksB．jobC．a job(正确答案)D．a work15、Many people prefer the bowls made of steel to the _____ made of plastic. [单选题] *A. itB. ones(正确答案)C. oneD. them16、The red jacket is _______ than the green one. [单选题] *A. cheapB. cheapestC. cheaper(正确答案)D. more cheap17、Grandfather lives with us. We all _______ him when he gets ill. [单选题] *A. look after(正确答案)B. look atC. look forD. look like18、By the end of this month, all this _____. [单选题] *A. is changedB．will changeC. will have changed(正确答案)D. has changed19、Customers see location as the first factor when_____a decision about buying a house. [单选题] *A.makeB.to makeC.making(正确答案)D.made20、Can I _______ your order now? [单选题] *A. makeB. likeC. giveD. take(正确答案)21、Which animal do you like _______, a cat, a dog or a bird? [单选题] *A. very muchB. best(正确答案)C. betterD. well22、Now people can _______ with their friends far away by e-mail, cellphone or letter. [单选题] *A. keep onB. keep in touch(正确答案)C. keep upD. keep off23、If we want to keep fit, we should try to _______ bad habits. [单选题] *A. keepB. haveC. getD. get rid of(正确答案)24、Her ideas sound right, but _____ I'm not completely sure. [单选题] *A. somehow(正确答案)B. somewhatC. somewhereD. sometime25、The flowers _______ sweet. [单选题] *A. tasteB. smell(正确答案)C. soundD. feel26、( ) You had your birthday party the other day,_________ [单选题] *A. hadn't you?B. had you?C. did you?D. didn't you?(正确答案)27、The work will be finished _______ this month. [单选题] *A. at the endB. in the endC. by the endD. at the end of(正确答案)28、The students _____ outdoors when the visitors arrived. [单选题] *A. were playing(正确答案)B. have playedC. would playD. could play29、Why don’t you _______ the bad habit of smoking. [单选题] *A. apply forB. get rid of(正确答案)C. work asD. graduate from30、pencil - box is beautiful. But ____ is more beautiful than ____. [单选题] *A. Tom's; my; heB. Tom's; mine; his(正确答案)C. Tom's; mine; himD. Tom's; my; his。
(完整word版)会计英语期末复习资料v.docx
09《会计英语》期末复习资料eful Phrases （短语）这个是给出中文让写英文1.Trading securities交易性金融资产2.Notes/accounts receivable应收票据 /帐款3.Provision for bad debts 坏帐准备4.Advances to suppliers 预付帐款5.Prepaid expenses待摊费用 (考过 )6.Accrued expenses 预提费用7.Accrued payroll 应付工资8.Dividends payable 应付股利9.Provision for loss on realization of inventory 存货变现损失准备10.Available-for-sale securities 可供出售的金融资产11.Hold-to-maturity securities 持有至到期投资12.Long-term investment in equity 长期股权投资13.Long-term investment maturing within one year 一年内到期的长期投资14.Receivables collectible after one year 一年以上应收款项15.Fixed assets - cost固定资产原价16.Fixed assets–net book value 固定资产净值17.Fixed assets–pending disposal 固定资产清理18.Accumulated depreciation 累计折旧19.Construction in progress 在建工程20.Intangible assets 无形资产21.Proprietary technology and patents 工业产权及专有技术22.Deferred tax assets递延所得税资产23.Current liabilities 流动债务24.Provisions for foreseeable liabilities 预计负债准备25.Premium/discount on debentures payable应付公司债券溢价 /折价26.Deferred tax liabilities 递延所得税负债27.Paid-in capital 实收资本28.Capital/Earnings surplus 资本 /盈余公积29.Undistributed profits 末分配利润30.Accumulated losses 累计亏损31.Profit and loss account利润表32.Sales discounts and allowances销售折扣与折让33.Impairment losses of assets资产减值损失34.Gain/loss on changes in fair value 公允价值变动收益 /损失35.Operating profit/loss 营业利润 / 亏损36.Non-operating income/expenses营业外收入 /支出 profit/loss after tax 税后净利润 /亏损38.Earnings per share (EPS)每股收益39.Basic/diluted EPS 基本 /稀释每股收益II.Abbreviations （缩略语）这个是给简写让你写出英语跟中文1.GAAP : Generally Accepted Accounting Principles .公认会计原则2.FASB : Financial Accounting Standards Board.财务会计准则委员会3.AICPA : American Institute of Certified Public Accountants.美国注册会计师协会4.CICPA : Chinese Institute of Certified Public Accountants.中国注册会计师协会5.MOF : the Ministry of Finance财政部6.SL Method : straight-line method.直线法P.252/77.ROA :return on assets资.产报酬率P.267/78.EPS :earning per share每.股收益P.351/99.P/E Ratio : the price/earning ration市盈率10.SCF : the statement of cash flows现金流量表III.Questions （回答问题）Lesson 1 --- Home AssignmentsDiscussion Questions: p.221.What are the four financial statements prepared by a proprietorship toprovide information for decision making?√They are: income statement (profit and loss account), statement of owner’s equity (capital statement, statement of retained earnings), balance sheet and cash flow statement.2.What is the proper formula presentation of the accounting equation?√Assets = Liabilities + [owner ’s equity + (Revenue–Expenses)]Exercise 1 - 2: p.23Foreman Corporation, engaged in a service business,completed the following selected transactions during the period:√1)Issued additional capital stock, receiving cash;2)Purchased supplies on account;3)Returned defective supplies purchased on account and not yet paid for;4)Received cash as a refund from the erroneous overpayment of anexpense;5)Charged customers for services sold on account;6)Paid utilities expense;7)Paid a creditor on account;8)Received cash on account from charge customers;9)Paid cash dividends to stockholders;10)Determined the amount of supplies used during the month.Lesson 2 --- Home AssignmentsDiscussion Questions: p.631.Does debit always mean increase and credit always mean decrease?√No, it does not. And debit or credit should not be confused with increase ordecrease. It depends on which side of an account is used for debit or credit.2.Given that assets have economic value and that they have debit balances,why do expenses also have debit balances?√Because expenses have the effect of decreasing capital, and just as decreases incapital are recorded as debit, increases in expense accounts are recorded as debits. Lesson 3---Home AssignmentsAnswer the following questions:1.Briefly explain the matching principle. （考过）√The matching principle states that expenses should be deducted (matched against) from the revenues earned in the same period.2.Why is an unearned revenue a liability? √Unearned revenue is a liability because the business owes the customer a good or service.Lesson 7---Home Assignments1.What do determinable current liabilities include? P.291 √They include trade accounts payable, current notes payable, current maturities of long-term obligations, cash dividends payable, accrued liabilities, and prepayments or deposits from customers.2.What does non-current liabilities represent? P.306 √It represents obligations of the firm that generally are due more than one yearafter the balance sheet date.3.What does the major portion of non-current liabilities consist of?P.306It consists of notes and bonds payable.Lesson 8---Home AssignmentsAnswer the following questions:1.What determines the yield rate of a company’s stock? √Dividends per share divided by market price per share determine the yield rateof a company‘s stock.2.What is P/E ratio? √The Price/Earning (P/E) ratio is the ratio of the market price per share toearnings per share.Lesson 9---Home AssignmentsAnswer the following questions:1.What are the three categories into which the SCF should be classified?They are a) cash flow from operating activities, b) cash flow from investing activities, cash flow from financing activities. √2.What is the usefulness of the SCF?√From SCF, the information users can know the reasons for the difference between net income and net cash flows from operating activities.IV .E-C Translation （英汉语篇翻译）让你写中文意思P.49/L.21.Preparing a Trial BalanceAccountants usually complete the posting of journal entries to the ledger accounts at the end of each month if they are using a manual system. With a computerized system, each posting is done automatically as each journal entry is recorded. The equality of debits and credits in the ledger should be verified at the end of each accounting period. To verify the accuracy of the recording process, accountants prepare a trial balance of the ledger accounts. A trial balance not only provides a check on the equality of debits and credits but also is a useful summary of account balances for preparing financial statements.[参考译文 ]编制试算表（考过）若使用的是手工录入系统的话，会计师通常是在每个月的月底完成日记帐到分类帐的过帐工作；若是用计算机系统的话，则每次过帐均在完成每笔日记帐的同时就自动完成了。
会计英语期末知识点总结
会计英语期末知识点总结一、会计的基本概念和理论会计是一门管理经济活动信息的学科，主要包括财务会计和管理会计。
财务会计是面向外部用户提供财务信息的，而管理会计则是为管理者做出决策提供信息的。
会计的基本原则是"货币计量"原则，即所有的经济交易必须以货币形式记录。
二、会计凭证会计凭证是会计记录的基本单元，包括借方和贷方。
一般常见的凭证有收据、发票、凭证和支票等。
三、会计主要财务报表1. 资产负债表资产负债表是一张反映企业资产、负债和所有者权益状况的报表。
其中资产分为流动资产和非流动资产，负债分为流动负债和非流动负债。
2. 利润表利润表是一张反映企业盈利情况的报表。
其中包括营业收入、营业成本、营业利润和净利润等项目。
3. 现金流量表现金流量表是反映企业现金流动情况的报表，主要包括经营活动、投资活动和筹资活动三个方面。
四、会计核算方法1. 库存核算库存核算主要包括先进先出法（FIFO）和后进先出法（LIFO）两种方法。
2. 固定资产核算固定资产核算是指对企业固定资产的计量、记录和报告。
3. 投资核算投资核算是对企业投资项目的计量和分析。
五、会计分录和账务处理会计分录是根据交易事项，按照借贷方向进行分类，以记录交易信息。
账务处理则是将分录进行汇总和分类，形成总账和各个明细账。
六、会计核算报表的编制和分析会计核算报表的编制包括将账务处理后的数据整理成各种报表，如资产负债表、利润表和现金流量表等。
报表分析则是对会计报表数据进行比较和解读，以评估企业的经营状况和盈利能力。
七、国际会计准则国际会计准则是制定会计规范的国际组织，用于统一不同国家和地区的会计准则，以提高国际财务报告的比较准确性和可靠性。
八、会计信息系统会计信息系统是将信息技术与会计学相结合，用于处理和管理企业的会计信息。
常见的会计信息系统包括财务管理系统、成本管理系统和绩效管理系统等。
九、会计职业道德和规范会计职业道德和规范是对会计从业人员的行为规范和职责要求的总结和归纳。
(完整word版)会计专业英语复习单词和句子翻译
(完整word版)会计专业英语复习单词和句子翻译Lession 1Information system 信息系统Modern business 现代企业Financinal position 财务状况Financial data 财务数据Financial strength 财务实力Financial report 财务报告Accounting process 会计过程，会计处理方法Financial accounting 财务会计Decision making 决策Managerial accounting 管理会计Financial executives 财务经理Performance report 业绩报告Cost-benefit data 成本—效益数据Cost accounting 成本会计Tax accounting 税务会计Budgetary accounting 预算会计Governmental and not-for—profit accounting 政府及非营利组织会计Human resources accounting 人力资源会计Environmental accounting 环境会计Social accounting 社会会计International accounting 国际会计Tax returns 纳税申报单Lesson 2Financial statement (report）财务报表（报告) Balance sheet 平衡表，资产负债表Income statement 收益表，损益表Statement of cash flows 现金流量表Owners' equity 业主权益At a glance 一瞥Accounting equation 会计等式,会计平衡式，会计方程式Current asset 流动资产Long—term asset 长期资产Normal operating cycle 正常经营周期Other than 除……外，处了Marketable securities 上市证券,有价证券Accounts receivable 应收帐款Prepaid insurance 预付保险费Supplies on hand 在用物料Fixed assets 固定资产Rather than 而不是Plant and equipment 厂场设备Depreciable asset 应折旧资产Original cost 原始成本Store fixtures 店面装置Accumulated depreciation 累计折旧，累积折旧Book value 账面价值Intangible asset 无形资产Lession3Current liability 流动负债Notes payable 应付票据Accrued salaries payable 应付账款Accured salaries payable 应计未付薪金Income tax payable 应付所得税Property tax payable 应付财产税Mortgage payable 应付抵押借款Bonds payable 应付债券，应付公司券Sole proprietorship 独资State corporation law 州公司法(美国）Capital stock 股本Retained earnings 留存收益，保留盈利Legal restrictions 法律约束Undistributed earnings 未分配收益，未分配盈利Engage in 参与Board of directors 董事会Divedend payable 应付股利Lesson4Merchandising company 商业公司Net income 净收益Net loss 净损失Operating results 经营成果Cost of goods sold 销售成本,商品销售成本Operating expenses 营业费用,经营费用Sales returns and allowances 销货退回及折让Sales discounts 销货（售）折让Gross sales 销货（售）总额Net sales 销货（售)净额Beginning inventory 期初存货Net purchases 购货净额Ending inventory 期末存货Purchases returns and allowances 购货退还及折让Purchases discounts 购货折扣Transportation in 购货运费Transportation out 销货运费Cost of goods available for sale 可供销售的商品成本Gross profit on sales 销货（售）毛利Selling expenses 销货（售）费用Administrative expenses 管理费用Sales salaries expense 销货（售）人员薪金Advertising expenses 广告费Depreciation expense 折旧费Insurance expense 保险费Rent expense 租赁费,租金Office salaries expense 办事人员薪金Utilities expense 公用事业(水、电、热）费Supplies expense 物料用品费Interest expense 利息收益Interest income 利息费用Relate to 与……有关Financial income and expense 财务收益和费用Extraordinary items 非常项目Lession5“two-column" account 两栏式账户Normal balance 正常余额Double—entry bookkeeping system 复式记账法，复式记账系统Source document 原始凭证Check stub 支票存根A set of 一组，一套Records of original entry 原始记录簿Chart of accounts 账户一览表，会计科目表Income summary 收益汇总,损益汇总Control account 控制账户，统驭账户,统制账户Subsidiary ledger 辅助分类账，明细分类账Perpetual inventory system 永续盘存制Lession 6Special journal 特种日记账General journal 普通日记账In consrast to 与此对比，与此相反In addition to 除。
会计英语期末知识点汇总
会计英语期末知识点汇总会计是一门涉及记录、报告和分析财务数据的学科。
在全球范围内，英语是会计领域的共通语言。
掌握会计英语是会计专业学生的基本要求。
为了帮助大家复习期末考试，本文将汇总一些会计英语的重要知识点。
1. 财务报表财务报表是记录和反映一个企业财务状况、经营业绩的文件。
常见的财务报表包括资产负债表、利润表和现金流量表。
1.1 资产负债表（Balance Sheet）资产负债表展示了一个企业在特定日期的资产、负债和所有者权益。
其中，资产包括固定资产、流动资产等；负债包括短期负债、长期负债等；所有者权益是指企业资产减去负债后剩余的部分。
1.2 利润表（Income Statement）利润表显示了一个企业在特定期间内的营业收入、营业成本、税前利润和净利润。
利润表反映了一个企业的盈亏情况。
1.3 现金流量表（Cash Flow Statement）现金流量表记录了一个企业在特定期间内的现金流入和流出情况。
它分为经营活动、投资活动和筹资活动三个部分。
2. 会计原则和概念2.1 会计原则（Accounting Principles）会计原则是会计行业的标准规范，确保财务报表的准确性和可比性。
常见的会计原则包括实体概念、会计周期概念、成本概念等。
2.2 会计概念（Accounting Concepts）会计概念是会计原则的细化和解释。
常见的会计概念包括货币计量、持续性、历史成本等。
3. 账户和分类3.1 资产账户（Asset Accounts）资产账户是用来记录企业拥有的资源，如现金、存货、应收账款等。
3.2 负债账户（Liability Accounts）负债账户是用来记录企业所欠的债务，如应付账款、短期借款等。
3.3 所有者权益账户（Equity Accounts）所有者权益账户用来记录企业的资本和所有者的权益，如股本、留存收益等。
3.4 收入账户（Revenue Accounts）收入账户用来记录企业的收入来源，如销售收入、利息收入等。
最新会计专业英语期末考试试卷和答案
会计专业英语期末考试试卷和答案1. The economic resources of a business are called: BA.Owner’s EquityB.AssetsC.Accounting equationD.Liabilities2. DTK Company has a $3500 accounts receivable from GRS Company. On January 20, GRS Company makes a partial payment of $2100 to DTK Company. The journal entry made on January 20 by DTK Company to record this transaction includes: DA.A debit to the cash receivable account of $2100.B.A credit to the accounts receivable account of $2100.C.A debit to the cash account of $1400.D.A debit to the accounts receivable account of $1400.3. In general terms, financial assets appear in the balance sheet at: AA.Face value.账面价值B.Current value.现值C.Market value.市场价值D.Estimated future sales value.4. Each of the following measures strengthens internal control over cash receipts except: DA.The use of a voucher system.B.Preparation of a daily listing of all checks received through the mail.C.The deposit of cash receipts intact in the bank on a daily basis.D.The use of cash registers.5. Which of the following items is the greatest in dollar amount? DA.Beginning inventoryB.Cost of goods sold.C.Cost of goods available for saleD.Ending inventory6.Why do companies prefer the LIFO inventory后进先出法method during a period of rising prices? BA.Higher reported incomeB.Lower income taxesC.Lower reported incomeD.Higher ending inventory7. Which of the following characteristics would prevent an item from being included in the classification of plant and equipment? DA.IntangibleB.Unlimited lifeC.Being sold in its useful lifeD.Not capable of rendering benefits to the business in the future.8. Which account is not a contra-asset account? BA.Depreciation ExpenseB.Accumulated DepletionC.Accumulated DepreciationD.Allowance for Doubtful Accounts9. What are the two factors that make ownership of an interest in a general partnership particularly risky? AA.Mutual agency and unlimited personal liabilityB.Limited life and unlimited personal liability.C.Limited life and mutual agency.D.Double taxation and mutual agency10. Which of the following types of business owners do not take an active role in the daily management of the business? DA.General partnersB.Limited liability partnersC.Sole proprietors 个体经营者D.Stockholders in a publicly owned corporation11. Analysts can use the footnotes to the financial statements to DA.Help their analysis of financial statementsB.Help their understanding of financial statementsC.Help their checking of financial statements.D.All of the above12. The current liabilities are $30 000, the long-term liabilities are $50 000, and the total assets are $240 000. What is the debt ratio? CA. 0.125B. 0.208C. 0.333D. 3.013. The horizontal analysis is used mainly to AA.Analyzing financial trendsB.Evaluating financial structureC.Assessing the pat performancesD.Measuring the term-paying ability14. Among the following ratios, which is used for long-term solvency analysis?长期偿债能力分析AA.Current ratio 流动比率B.Times-interest-earned ratioC.Operating cycleD.Book value per share15. A profit-making business that is a separate legal entity and in which ownership is divided into shares of stock is known as a DA.Sole proprietorship 个体独资公司B.Single proprietorshipC.Partnership 合伙公司D.Corporation 股份有限公司二、名词解释(10分)(1) Journal entry：日记账Journal entry is a logging of transactions into accounting journal items. It can consist of several items, each of which is either a debit or a credit. The total of the debits must equal the total of the credits or the journal entry is said to be "unbalanced". Journal entries can record unique items or recurring items such as depreciation or bond amortization.(2) Going concern：持续经营The company will continue to operate in the near future, unless substantial evidence to the contrary exists.(3) Matching principle：一致性原则(4) Working capital：营运资金(5) Revenue expenditure：收入费用三、会计业务（共35分）1. On December 1, ME Company borrowed $250 000 from a bank, and promise to repay that amount plus 12% interest (per year) at the end of 6 months.(1)Prepare the general journal entry to record obtaining the loan from the bank on December 1.(2)Prepare the adjusting journal entry to record accrual of the interest payable on the loan on December 31.Answer:(1)Debit: cash $250000Credit: current liabilities $250000(2)Debit: Accrual Expense $5000 不确定Credit: Interest Payable $50003. Please prepare the related entries according to the following accounting events.1)Assume the Healy Furniture has credit sale of $1,200,000 in 2002. Of this amount, $200,000 remains uncollected at December 31. The credit manager estimates that $12,000 of these sales will be uncollectible. Please prepare the adjusting entry to record the estimated uncollectible.2)On March 1, 2003 the manager of finance of Healy Furniture authorizes a write-off of the $500 balance owed by Nick Company. Please make the entry to record the write-off.3)On July 1, Nick Company paid the $500 amount that had been written off on March 1.Answer:(1)Debit: Uncollectible Accounts Expense坏账损失$12000Credit: Allowance for Doubtful Accounts坏账准备$12000(2)Debit: Allowance for Doubtful Accounts $500Credit: Accounts Receivable $500(3)Debit: Accounts Receivable $500Credit: Allowance for Doubtful Accounts $500Debit: Cash $500Credit: Accounts Receivable $500四、英译汉（40分）1) Accounting principles are not like physical laws; they do not exist in nature, awaiting discovery man. Rather, they are developed by man, in light of what weconsider to be the most important objectives of financial reporting. In many ways generally accepted accounting principles are similar to the rules established for an organized sport such as football or basketball.会计准则不像自然法则那样天生就存在等待人类去探索。
会计专业英语期末考试练习卷new
1. The economic resources of a business are called: BA.Owner’s EquityB.AssetsC.Accounting equationD.Liabilities2. DTK Company has a $3500 accounts receivable from GRS Company. On January 20, GRS Company makes a partial payment of $2100 to DTK Company. The journal entry made on January 20 by DTK Company to record this transaction includes: DA.A debit to the cash receivable account of $2100.B.A credit to the accounts receivable account of $2100.C.A debit to the cash account of $1400.D.A debit to the accounts receivable account of $1400.3. In general terms, financial assets appear in the balance sheet at: AA.Face value.账面价值B.Current value.现值C.Market value.市场价值D.Estimated future sales value.4.Each of the following measures strengthens internal control over cash receipts except: DA.The use of a voucher system.B.Preparation of a daily listing of all checks received throughthe mail.C.The deposit of cash receipts intact in the bank on a daily basis.D.The use of cash registers.5. Which of the following items is the greatest in dollar amount DA.Beginning inventoryB.Cost of goods sold.C.Cost of goods available for saleD.Ending inventorydo companies prefer the LIFO inventory后进先出法 method during a period of rising prices BA.Higher reported incomeB.Lower income taxesC.Lower reported incomeD.Higher ending inventory7. Which of the following characteristics would prevent an item from being included in the classification of plant and equipment DA.IntangibleB.Unlimited lifeC.Being sold in its useful lifeD.Not capable of rendering benefits to the business in the future.8. Which account is not a contra-asset account BA.Depreciation ExpenseB.Accumulated DepletionC.Accumulated DepreciationD.Allowance for Doubtful Accounts9. What are the two factors that make ownership of an interest ina general partnership particularly risky AA.Mutual agency and unlimited personal liabilityB.Limited life and unlimited personal liability.C.Limited life and mutual agency.D.Double taxation and mutual agency10. Which of the following types of business owners do not take an active role in the daily management of the business DA.General partnersB.Limited liability partnersC.Sole proprietors 个体经营者D.Stockholders in a publicly owned corporation11. Analysts can use the footnotes to the financial statements to DA.Help their analysis of financial statementsB.Help their understanding of financial statementsC.Help their checking of financial statements.D.All of the above12. The current liabilities are $30 000, the long-term liabilities are $50 000, and the total assets are $240 000. What is the debt ratio CA.B.C.D.13. The horizontal analysis is used mainly to AA.Analyzing financial trendsB.Evaluating financial structureC.Assessing the pat performancesD.Measuring the term-paying ability14.Among the following ratios, which is used for long-term solvency analysis长期偿债能力分析 AA.Current ratio 流动比率B.Times-interest-earned ratioC.Operating cycleD.Book value per share15. A profit-making business that is a separate legal entity and in which ownership is divided into shares of stock is known as a DA.Sole proprietorship 个体独资公司B.Single proprietorshipC.Partnership 合伙公司D.Corporation 股份有限公司一、名词解释10分1 Journal entry：日记账Journal entry is a logging of transactions into accounting journal items. It can consist of several items, each of which is either a debit or a credit. The total of the debits must equal the total of the credits or the journal entry is said to be "unbalanced". Journal entries can record unique items or recurring items such as depreciation or bond amortization.2 Going concern：持续经营 The company will continue to operate in the near future, unless substantial evidence to the contrary exists.3 Matching principle：一致性原则4 Working capital：营运资金5 Revenue expenditure：收入费用二、会计业务共35分1. On December 1, ME Company borrowed $250 000 from a bank, and promise to repay that amount plus 12% interest per year at the end of 6 months.(1)Prepare the general journal entry to record obtaining theloan from the bank on December 1.(2)Prepare the adjusting journal entry to record accrual ofthe interest payable on the loan on December 31.(3)Prepare the presentation of the liability to the bank onME’s December balance sheet.Answer:(1)Debit: cash $250000Credit: current liabilities $250000(2)Debit: Accrual Expense $5000 不确定Credit: Interest Payable $50003 P392. The following information relating to the bank checking account is available for Music Hall at July 31:Balance per bank statement at$20 0000July 31Balance per depositor’s18 860 recordsOutstanding checks 2 000 Deposits in transit 800 Service charge by bank 60 Prepare a bank reconciliation银行对账工作 fro Music Hall at July 31.Answer:P423. Please prepare the related entries according to the following accounting events.1 Assume the Healy Furniture has credit sale of $1,200,000 in 2002. Of this amount, $200,000 remains uncollected at December 31. The credit manager estimates that $12,000 of these sales will be uncollectible. Please prepare the adjusting entry to record the estimated uncollectible.2 On March 1, 2003 the manager of finance of Healy Furniture authorizes a write-off of the $500 balance owed by Nick Company. Please make the entry to record the write-off.3 On July 1, Nick Company paid the $500 amount that had been written off on March 1.Answer:(1)Debit: Uncollectible Accounts Expense坏账损失 $12000Credit: Allowance for Doubtful Accounts坏账准备 $12000(2)Debit: Allowance for Doubtful Accounts $500Credit: Accounts Receivable $500(3)Debit: Accounts Receivable $500Credit: Allowance for Doubtful Accounts $500Debit: Cash $500Credit: Accounts Receivable $500四、英译汉40分1 Accounting principles are not like physical laws; they do not exist in nature, awaiting discovery man. Rather, they are developed by man, in light of what we consider to be the most important objectives of financial reporting. In many ways generally accepted accounting principles are similar to the rules established for an organized sport such as football or basketball.会计准则不像自然法则那样天生就存在等待人类去探索;会计准则需要人类在财务报告最重要目标的指引下去不断发展;很多时候我们认为会计准则就像一场组织运动的规则例如足球或篮球的规则2 Accounting have devised procedures whereby the flows of cash receipts and payments are spread over a period of time in a certain way to derive income, which is representative of the economic performance of the firm for the given period. The income concept as applied in the real world involves numerous decisions and judgments. 会计有特定的流程;在这个流程中现金收支在一定时间内通过一些特定方式流入流出并产生收入;收入代表一个公司在某一时间段的经济效益;收入这个概念在现实世界中包含着大量决策和评判;3Accounting is an information system of interpreting, recording, measuring, classifying, summarizing, reporting and describing business economic activities with monetary unit as its main criterion. The accounting information is primarily supplied to owners, managers and investors of every business, and other users to assist in the decision-making process. Therefore, accounting is also called “the language of business”.会计是一个翻译、记录、计量、认定、总结、报告和用现金作为主要标准来衡量企业经济活动的信息系统;会计信息主要提供给公司所有者、经营者、投资者和其他使用者以帮助他们决策;所以,会计又被称为“公司的语言”;4The use of accounting information is not limited to the business world. We live in an ear of accountability. An individual must account for his or her income and must file income tax returns. Often an individual must supply personal accounting information in order to qualify for a loan, to obtain a credit card, or to be eligible for a college scholarship.会计信息的运用并不限于商业界;会计在我们生活中无处不在;个人需要记录他的收入并整理他的纳税申报表;当一个需要申请贷款、信用卡或奖学金时,他通常需要提供个人会计信息来获得申请资格;。
会计专业英语复习资料
会计专业英语复习资料Post test 1 基本概念1. Things of value owned by an entity: assetsMoney: cashClaims of creditors: liabilitiesClaims of investors: equity2. 2 types of sources of funds：Stronger claim: liabilitiesLesser claim: equity3. A balance sheet reports the status of an entity ....at a point of time.4. Give the fundamental accounting equation: Assets = Liabilities + Equity5. The above equation is consistent with what concept?: Dual-aspect concept6. Money-measurement concept states that accounting reports only facts that can be expressed in monetary amounts.7. A balance sheet does not report all the facts about a business. What concept limits the amount or type of information that can be reported? Money-measurement concept8. Brown Company has 10000 dollar cash. Its owner withdraws 100 dollars for his own use. The owner is (no better or worse off) than he was before. Brown company now has (less) cash. The fact that this event affects the owner differently than it affects the company is an illustration of the entity concept.9. The entity concept states that accounts are kept for entities as distinguished from the persons who own those entities.11. The going-concern concept is: Accounting assumes that an entity will continue to operate indefinitely.12. The asset-measurement concept is: if reliable information is available, accounting focuses on the fair value of assets. Nonmonetary assets are reported at their original cost.13. An item can be reported as an asset if it passes 3 of the following: item is valuable, item was acquired at a measurable cost, item is owned or controlled by the entity.14. Goodwill is a favorable name or reputation purchased by the entity.15. An asset is classified as current if it is cash or is expected to be converted into cash in the near future, usually within one year.16. A liability is classified as current if it becomes due in the near future, usually within one year.17. Marketable securities are current assets. Investments are noncurrent assets.19. An insurance policy paid in advance of the time period covered is an example of a prepaid expense.20. A building, an item of equipment, and an automobile may all be examples of plant and property.21.Parker Company operates a furniture store. On December 31,2005,it had 30 desks that it was holding for sale. These would be reported as inventory. The desk that is used by the president of Parker Company would be reported as plant and property.22.Fox Company sold $1,000 of goods on credit to Golden Company. This would be recorded as an account receivable of Fox Company and as an account payable of Golden Company.23. Indicate whether the following statements about the balance sheet of a corporation are true or false:a. Assets list all the valuable things owned by the entity----Fb. The amount reported for the paid-in capital item isapproximately the fair value of the stock-----Fc. The amount reported for total equity is approximately the fair value of the corporation’s stock---Fd. Total equities (also called “net worth”) show approximately what the entity is worth.----Fe. Retained earnings is the amount of cash retained in the entity.-----FPost test 2 资产负债表的变更：收入的核算1.On January 2, John Brown started the Brown Company. In January, Brown Company did the following things:a. It received $5,000 cash from John Brown as its capital.b. It borrowed $10,000 from a bank, giving a note therefor.c. It purchased $4,000 of inventory for cash.d. It sold $2,000 of its inventory for $6,000 to a customer, who paid $3,500 cash and agreed to pay $2,500 within 30 days.e. It purchased an auto for $7,000. It paid $2,000 down and gave a note to the automobile dealer for the remaining $5,000f. Brown withdrew $1,000 cash for his personal use.g. Brown was offered $10,000 for his equity in the business, but he refused the offer.On a separate piece of paper, prepare a rough draft of a balance sheet for Brown Company as of the close to business January 31, and an income statement for January.Brown CompanyBalance Sheet as of Jan31AssetsCash……………………………………$11,500Accounts Receivable…………………2,500 Inventory………………………………….2,000 Automobile………………………………7,000Total………………………………………$23,000Liabilities and EquityNotes Payable………………………$15,000Paid-in Capital…………………………5,000Retained Earnings……………………3,000 Total……………………………………$23,000Brown CompanyIncome Statement for January Revenue...........................$6,000 Expense ...........................$2,000Income ............................$4,0002.Brown Company's income was $4,000, but its Retained Earnings was only $3,000. Reread the first frame and choose the item (a-g) that explains the difference. f3.John Brown claims that the inventory as of January 31 is worth $6,000, as shown by the fact that inventory costing $2,000 was actually sold for $6,000. Would you change the balance sheet ?...(No). This is an illustration of the asset-measurement concept. Nonmonetary assets are reported at their cost rather than their worth or fair value.Post test 3 会计记录和系统1. On March 5, Kay Company purchased $6,000 of inventory, paying cash.Prepare a journal entry for this transaction below.Journal2001 Transactions Dr. Cr.March 5Inventory6,000Cash6,0002. On March 10, Kay Company made a $15,000 sale to a customer who paid $6,000 cash and agreed to pay to the other $9,000 in 30 days. The merchandise sold had cost $8,000. Preparea journal entry for the sale, below.Journal2001 Transactions Dr. Cr.March 10Cash6,000Accounts Receivable9,000Revenues15,0003. On March 10, Kay Company made a sale for $15,000 for merchandise that had cost $8,000. Prepare a journal entry to record the cost of the sale below.Journal2001 Transactions Dr. Cr.March 10 Expenses8,000Inventory8,0004. Recall from the previous frames that revenues from the sale on March 10 were $15,000 and that the merchandise sold had cost $8,000. Prepare the closing entries.Journal2005 Transactions Dr. Cr.March 31Revenues15,000Retained earnings15,000March 31Retained earnings8,000Expenses8,0005-10. Omit11. A critic said that the company had $25,000 cash at the beginning ofMarch and $25,000 at the end of March, and since its cash balance was unchanged, it couldn't be said to have any income in March. This criticism is (incorrect).12. The reason the criticism is incorrect is because income is an increase inretained earnings, not necessarily in cash. For example, the sales revenue of Kay Company in March was $15,000 and its income was $7,000 even though $9,000 was received in cash.Post test 4 营业收入和货币资产1. The conservation concept states that increases in equity are recognized only when they are reasonably certain, while decreases in equity are recognized as soon as they are reasonably possible.2. The materiality concept states: disregard trivial matters but disclose all important matters.3. What is the length of the usual accounting period? One year. Financial statements prepared for shorter periods are called interim statements.4. Cash accounting reports items that increase or decrease cash. Accrual accounting reports items that change equity or retained earnings, even though these changes may not affect cash.5. Increases in equity associated with the entity’s operations during a periodare revenues, and decreases are expenses. The difference between them is labeled income.6. The realization concept states that revenues are recognized when goods or services are delivered.7. H Company manufactures a table in August and places it in its retail store in September. R Smith, a customer, agrees to buy the table in October, it is delivered to him in November, and he pays the bill in December. In what month is the revenue is recognized? (November)8. The receipt of cash is a debit to Cash. What is the offsetting credit and (type of account) for the following types of salestransactions?Account Crediteda. Cash received prior to delivery. Advances from customers(a liability)b. Cash received in same period as delivery. Revenuec. Cash received after the period of delivery. Accounts receivable (an asset)9. Similarly, revenue is a credit entry. What is the offsetting debit whenrevenue is recognized in each of these periods?Account Debiteda. Revenue recognized prior to receipt of cash. Accounts receivableb. Revenue recognized in same period as receipt of cash. Cashc. Revenue recognized in the period following receipt of cash. Advances from customers10. In February, H Company agrees to sell a table to a customer for $600,and the customer makes a down payment of $100 at that time. The cost of the table is $400. The table is delivered to the customer in March, and the customer pays the remaining $500 in April. Give the journal entries (if any) that would be made in February, March, and April for both the revenue and expense aspects of this transaction. February:Cash100Advances from customers100March:Accounts receivable500Advances from customers100Revenue600March:Expenses400Inventory400April:Cash500Accounts receivable50011. At the end of 2005, M Company had accounts receivable of $200,000,and it estimated that $2,000 of this amount was a bad debt. Its revenue in 2005, with no allowance for the bad debts, was $600,000.A. What account should be debited for the $2,000 bad debt? RevenueB. What account should be credited? Allowance for doubtful accountsC. What amount would be reported as net accounts receivable on the balance sheet? $198,000D. What amount would be reported as revenue on the 2005 income statement? $598,00012. In 2006, the $2,000 of bad debt was written off.A. What account should be debited for this written off? Allowance for doubtful accountsB. What account should be credited? Accounts receivablePost test 5 费用的核算；损益表1. An expenditure occurs in the period in which goods or services are acquired. An expense occurs in the period in which goods or services are consumed.2. A certain asset was acquired in May. There was therefore an expenditure in May. At the end of May, the item was either onhand, or it was not. If it was on hand, it was an asset; If it was not on hand, it was an expense in May.3. Productive assets are unexpired costs. Expenses are expired costs.4. The matching concept states that costs associated with the revenues of a period are expenses of that period.5. Expenses of a period consist of:a. costs of the goods and services delivered during that period.b. other expenditures that benefit operations of the period.c. losses6. If Brown company pays rent prior to the period that the rent covers, the amount is initially reported as credit to cash and a debit to Prepaid Rent, which is an asset account. If Brown Company pays the rent after the period covered, the amount is initially recorded as a debit to Rent Expense and a credit to Accrued Rent, which is a liability account.7. A brand new machine owned by Fay Company was destroyed by fire in 2005. It was uninsured. It has been purchased for $10,000 with the expectation that it would be useful for 5 years. The expense recorded in 2005 should be $10,000.8. Gross margin is the difference between sales revenue and cost of sales.9. gross margin percentage: (gross margin)/(sales revenue)10. The difference between revenues and expenses in an accounting period (or the amount by which equity [i.e., retained earnings] increased from operating activities during the period) is called net income.11. A distribution of earnings to shareholders is called dividends(股利).12. retained earnings at the end of the period= retained earnings at the beginning of the period + net income – dividends.Post test 6 存货和销售成本1. A dealer sells a television set for $800 cash. It had cost $600. Write journal entries for the four accounts affected by this transaction.Dr. Cash800Cr. Revenue800Dr. Cost of Sales600Cr. Inventory6002. When using the perpetual inventory method (永续盘存), a record is kept for each item, showing receipts, issues, and the amount on hand.3. Write an equation that shows how the cost of sales is determined by deduction:Cost of sales = beginning inventory + purchases – ending inventory4. Omit5. In periods of inflation, many companies use the LIFO method incalculating their taxable income because LIFO gives a higher cost of sales and hence a lower taxable income.6. A company discovers that the fair value of its inventory is $1000 lower than its cost. What journal entry should it take?Dr. Cost of Sales1,000Cr. Inventory1,0007. In a manufacturing business, what three elements enter into the cost of a manufactured item?Direct material, direct labor, and overhead.8. Period costs become an expense during the period inwhich they were incurred.9. Product costs become an expense during the period in which the products were sold.10. One type of overhead rate involves use of the total direct labor costs and total production overhead costs for a period. Write a ratio that shows how the overhead rate is calculated.(Total production overhead costs)/(Total direct labor costs)11. A given finished item requires $50 of direct materials and 5 hours of direct labor at $8 per hour. The overhead rate is $4 per direct labor hour. At what amount would the finished item be shown in inventory? $110= 50+ 40 + 2012. An inventory turnover of 5 is generally better than an inventory turnover of 4 because it indicates that less capital is tied up in inventory, and there is less risk that the inventory will become obsolete.Post test 7 非流动资产和折旧1. The amount at which a new plant asset is recorded in the accounts includes its purchase price plus all costs incurred to make the asset ready for its intended use (such as transportation and installation).2. A plant asset is acquired in 2005. It is expected to be worn out at the end of 10 years and to become obsolete in five years. What is its service life? ---Five years.3. Ordinarily, land is not depreciated because its service life is indefinitely long.4.A plant asset is acquired in 2005 at a cost of $20000. Its estimated service life is 10 years, and its estimated residual value is $2000 :a. The estimated depreciable cost of the asset is $18,000b. If the straight-line depreciation method is used, thedepreciation rate for this asset is 10 percent.c. What amount will be recorded as depreciation expense in each year of the asset’s life?---$1,800d. What amount will be debited and what account will be credited to record this depreciation expense?Dr. Depreciation expenseCr. Accumulated depreciatione. After five years have elapsed, how would this asset be reported on the balance sheet?1) Plant------$20,0002) Less accumulated depreciation-------$9,0003) Book value-------$11,0005. A machine is purchase on January 2, 2005, for $20,000 and its has an expected life of five years and no estimated residual value.a. If the a machine is still in use six years later, what amount of depreciation expense will be reported in for the sixth year?----zerob. What amount, if any, will be reported on the balance sheet at the end of the sixth year?1) It will not be reported.-----X2) It will be reported as follows:Machine $20,000Accumulated depreciation $20,000Book value $06. A machine is purchase on January 2, 2005, for $50,000. It has an expected service life for 10 years and no residual value. Eleven years later it is sold for $3,000 cash.a. There will be a gain of $3,000b. What account will be debited and what account creditedto record this amount?Dr. CashCr. Gain on disposition of assets.7. Given an example of each of the following types of assets, and give the name of the process used in writing off the cost of the second and third type.Asset type\Example\Write-off processPlant Asset\m achine, b uilding\DepreciationWasting asset\c oal, o il ,m inerals\DepletionIntangible asset\g oodwill, t rademark \Amortization8. Conoil Company purchased a producing oil property for $10,000,000 on January 2, 2005. It estimated that the property contained one million barrels of oil and that the property had a service life of 20 years. In 2005, 40,000 barrels of oil were recovered from the property. What amount should be charged as an expense in 2005?------$400,0009. Wasting assets and intangible assets are reported on the balance sheet ina different way than building, equipment, and similar plant assets. The difference is that wasting assets are reported at the net amount and plant assets are reported at cost, accumulated depreciation, and net amount. 10. In calculating its taxable income, a company tries to report its income as low as it can. In calculating its financial accounting income, a company tries to report its income as fairly as it can.11. As compared with straight-line depreciation, accelerated depreciation writes off more depreciation in the early years of an asset’s life and less in the later years. Over the whole life of asset, accelerated depreciation writes off the same total cost as straight-line depreciation.12. Companies usually use accelerated depreciation in tax accounting because it reduces taxable income and hence income tax in the early years.13. Assume an income tax rate of 40%. If a company calculated its financial accounting income (before income taxes) in 2005 as $6 million and its taxable income as$4 million, what amount would it report as income tax expense on its 2005 income statement?----$2,400,00014. Fill in the missing name on the following table:Income tax expense $100,000Income tax paid -60,000Deferred income tax $ 40,000The $40,000 would be reported on the balance sheet as a liability.。
会计英语期末知识点总结
会计英语期末知识点总结1. Basic Concepts of Accounting1.1. Financial AccountingFinancial accounting is the process of recording, summarizing, and reporting financial transactions of a business to external parties such as investors, creditors, and regulators. It provides a comprehensive view of the financial performance and position of a company.1.2. Managerial AccountingManagerial accounting is the process of providing financial and non-financial information to internal management for decision making, planning, and control. It focuses on providing relevant and timely information to support the management in making informed decisions.1.3. Accounting PrinciplesGenerally Accepted Accounting Principles (GAAP) are a set of guidelines and rules that govern the accounting practices and procedures in the United States. These principles ensure consistency and comparability in financial reporting.1.4. Double-Entry AccountingDouble-entry accounting is a system in which every financial transaction has equal and opposite effects on at least two different accounts. This system ensures accuracy and completeness in recording financial transactions.1.5. Accrual Basis vs. Cash Basis AccountingAccrual basis accounting recognizes revenues when earned and expenses when incurred, regardless of when cash is received or paid. Cash basis accounting, on the other hand, recognizes revenues and expenses only when cash is received or paid.2. Financial Statements2.1. Balance SheetA balance sheet is a financial statement that shows the financial position of a company at a specific point in time. It presents the assets, liabilities, and equity of the business, providinga snapshot of its financial health.2.2. Income StatementAn income statement, also known as a profit and loss statement, shows the revenues, expenses, and profits (or losses) of a company over a specific period of time. It provides a summary of the company's financial performance.2.3. Statement of Cash FlowsThe statement of cash flows shows the sources and uses of cash in a company's operating, investing, and financing activities. It provides insights into the cash flow dynamics of a business.2.4. Statement of Retained EarningsThe statement of retained earnings shows the changes in a company's retained earnings over a specific period, including net income, dividends, and other adjustments. It reconciles the beginning and ending balances of retained earnings.3. Key Principles in Accounting3.1. Historical Cost PrincipleThe historical cost principle requires assets to be recorded at their original cost, rather than their current market value. This principle ensures reliability and objectivity in financial reporting.3.2. Revenue Recognition PrincipleThe revenue recognition principle states that revenues should be recognized when earned, regardless of when cash is received. This principle ensures that revenues are matched with the expenses incurred to generate them.3.3. Matching PrincipleThe matching principle requires expenses to be recognized in the same period as the revenues they help generate. This principle ensures that the income statement accurately reflects the profitability of a company.3.4. Full Disclosure PrincipleThe full disclosure principle requires companies to disclose all relevant information in their financial statements and footnotes, providing a complete and transparent view of their financial position and performance.3.5. Consistency PrincipleThe consistency principle requires companies to use the same accounting methods and techniques from one period to the next, providing consistent and comparable financial information.In conclusion, accounting is a vital function in any business organization. It provides crucial information that helps in decision-making, planning, and control. By understanding the basic concepts, financial statements, and key principles in accounting, stakeholders can make informed judgments about the financial health and performance of a company.。
2020年(财务会计)会计专业英语复习资料
（财务会计）会计专业英语复习资料会计专业英语复习资料一、短语中英互译1、会计分录2、投资活动3、后进先出法4、客观性原则5、注册会计师6、权责发生制7、累计折旧8、资产负债表9、经营决策10、银行存款11、到期日12、历史成本13、sourcedocument14、nominalrate15、creditsale16、sum-of-years-digitsmethod17、economicentityassumption18、financialposition19、fixedassets20、publichearing21、incomestatement22、salesdiscount23、valueaddedtax24、trademark25、bankoverdraft二、从下列选项中选出最佳答案1、Generally，revenueisrecordedbyabusinessenterpriseatapointwhen：()A、M anagementdecidesitisappropriatetodosoB、TheproductisavailableforsaletoconsumersC、A nexchangehastakenplaceandtheearningprocessisvirtuallycompleteD、Anorderformerchandisehasbeenreceived2、Whyarecertaincostscapitalizedwhenincurredandthendepreciatedoramorti zedoversubsequentaccountingperiods？()A、T oreducetheincometaxliabilityB、ToaidmanagementinmakingbusinessdecisionsC、T omatchthecostsofproductionwithrevenueasearnedD、Toadheretotheaccountingconceptofconservatism3、Whataccountingprincipleorconceptjustifiestheuseofaccrualsanddeferrals ？()A、G oingconcernB、MaterialityC、C onsistencyD、Stablemonetaryunit4、Anaccruedexpensecanbestbedescribedasanamount()A、P aidandcurrentlymatchedwithrevenueB、PaidandnotcurrentlymatchedwithrevenueC、N otpaidandnotcurrentlymatchedwithrevenueD、Notpaidandcurrentlymatchedwithrevenue5、Continuationofabusinessenterpriseintheabsenceofcontraryevidenceisane xampleoftheprincipleorconceptof()A、B usinessentityB、ConsistencyC、G oingconcernD、Substanceoverform6、Inpreparingabankreconciliation，theamountofchecksoutstandingwouldbe：()A、a ddedtothebankbalanceaccordingtothebankstatement.B、deductedfromthebankbalanceaccordingtothebankstatement.C、a ddedtothecashbalanceaccordingtothedepositor’srecords.D、deductedfromthecashbalanceaccordingtothedepositor’srecords.7、Journalentriesbasedonthebankreconciliationarerequiredfor：()A、a dditionstothecashbalanceaccordingtothedepositor’srecords.B、deductionsfromthecashbalanceaccordingtothedepositor’srecords.C、B othAandBD、NeitherAnorB8、Apettycashfundis：()A、u sedtopayrelativelysmallamounts。
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《会计英语》复习资料二、单项选择（红字为正确答案）：Financial reports are used byd. all of the above1. For accounting purposes, the business entity should be considered separate from its owners if the entity is（）d. all of the above2. Which of the following best describes accounting?b. is an information system that provides reports to stakeholders3. Using accrual accounting, expenses are recorded and reported onlya. when they are incurred, whether or not cash is paid4. The measurement bases exclude( )c. Sale price5. Debts owed by a business are referred to as（）d. liabilities6. Which of the following financial statements reports information as of a specific date?c. balance sheet7. Cash investments made by the owner to the business are reported on the statement of cash flows in thea. financing activities section8. The accounting equation may be expressed asd. Assets - Liabilities = Owner's Equity9. Which of the following groups of accounts have a normal credit balance?a. revenues, liabilities, capital10. Which of the following groups of accounts have a normal debit balance?d. assets, expenses11. Which of the following types of accounts have a normal credit balance?c. revenues and liabilities12. In the accounting cycle, the last step is（）a. preparing a post-closing trial balance13. Which of the following should not be considered cash by an accountant?c. postage stamps14. A bank reconciliation should be prepared periodically because （）c. any differences between the depositor's records and the bank's recordsshould be determined, and any errors made by either party should bediscovered and corrected15. The amount of the outstanding checks is included on the bank reconciliation as a(n) （）c. deduction from the balance per bank statement16. The asset created by a business when it makes a sale on account is termedc. accounts receivable17. What is the type of account and normal balance of Allowance for Doubtful Accounts?a. Contra asset, credit18. The term "inventory" indicates （）d. both A and B19. Merchandise inventory at the end of the year was understated. Which of the following statements correctly states the effect of the error?a. net income is understated20.Merchandise inventory at the end of the year is overstated. Which of the following statements correctly states the effect of the error?b. owner's equity is overstated21.The inventory method that assigns the most recent costs to cost of good sold isb. LIFO22.Under which method of cost flows is the inventory assumed to be composed of the most recent costs?b. first-in, first-out23. When the perpetual inventory system is used, the inventory sold is debited to ( )b. cost of merchandise sold24．All of the following below are needed for the calculation of depreciation exceptd. book value25. A characteristic of a fixed asset is that it isb. used in the operations of a business26. Accumulated Depreciation ( )c. is a contra asset account27. The two methods of accounting for investments in stock are the cost method and the （）b. equity method28. A capital expenditure results in a debit to （）d. an asset account29. Current liabilities are（）d. due and payable within one year30. The debt created by a business when it makes a purchase on account is referred to as anb. account payable31. Notes may be issued （）d. all of the above32.The cost of a product warranty should be included as an expense in thec. period of the sale of the product33. If the market rate of interest is 8%, the price of 6% bonds paying interest semiannually witha face value of $100,000 will bec. Less than $100,00034. The interest rate specified in the bond indenture is called the （）b. contract rate35. When the corporation issuing the bonds has the right to repurchase the bonds prior to the maturity date for a specific price, the bonds ared. callable bonds36. When the market rate of interest on bonds is higher than the contract rate, the bonds will sell atd. a discount37. One potential advantage of financing corporations through the use of bonds rather than common stock isc. the interest expense is deductible for tax purposes by the corporation38. Characteristics of a corporation include （）d. shareholders who have limited liability39. Stockholders' equity （）c. includes retained earnings and paid-in capital40. The excess of issue price over par of common stock is termed a(n) （）d. premium41. Cash dividends are usually not paid on which of the following?c. treasury stock42. Which of the following accounts below is reported in the paid-in capital/stockholders' equity section of the corporate balance sheet?d. Preferred Stock43. If preferred stock has dividends in arrears, the preferred stock must bed. convertible44. The primary purpose of a stock split is tob. reduce the market price of the stock per share45. Which statement below is not a reason for a corporation to buy back its own stock.d. to increase the shares outstanding46. The liability for a dividend is recorded on which of the following dates?d. the date of declaration47. In credit terms of 2/10, n/30, the "2" represents thed. percent of the cash discount48. Revenue should be recognized when（）b. the service is performed49. The ability of a business to pay its debts as they come due and to earn a reasonable amount of income is referred to as （）b. solvency and profitability50. Which of the following is not included in the computation of the quick ratio?a. inventory四、问答题：3．Differentiate between financial accounting and managerial accounting.财务会计与管理会计的区别。