会计英语作业二 及 答题卡

对外经济贸易大学继续教育学院夜大部

2012---2013学年度第一学期

2011级会计专升本

《会计专业英语》作业二

务必把答案写在答题纸上,写在卷纸上无效!!!

I．Match the terms in Column A with the definitions in Column B. (5%)

A.

（）1. revenues

（）2. Sales Returns and Allowances

（）3. expenses

（）4. net income

（）5. Gains

B.

A. periodic change in owner’s equity or net assets of an entity as a result

of transactions and other economic events that result in revenues, expenses, gains and losses

B. increases in owner’s equity or net assets that result from peripheral

or incidental transactions by an entity

C. inflows or other enhancements of assets of an entity or settlements of its liabilities

D. outflows or other using up of assets or increase of liabilities

E. a contra revenue account to Sales

II. Complete the following sentences with the appropriate phrases given

below.(10%)

Contingent liabilities liability advances from customer premium dividends discount

1. is revenues that have been collected but not earned, a

liability until the goods or services are provided.

2. are potential liabilities arising from a past transaction and

dependent on a future event.

3. are a distribution of earnings by a corporation.

4. When bonds are sold at a or, the result is an

adjustment of the interest rate in the bonds from the face rate to

an effective rate that is close to the market rate when the bonds were

issued.

5. A is a legal obligation requiring the future payment of an

asset, the performance of a service.

III. Decide whether the following statements are true or false. Write

T for true and F for false. (20%)

( )1. Interest of 5% on 700 yuan for 90 days would be computed as follows:

0.05*700*90/360.

( )2. A note dated December 14 and due February 14 has a duration of

60 days.

( )3. Allowance for bad debts is a contra account to account payable.

( )4. Loans to offices of the company should be included in short-term loans on the balance sheet.

( )5. In China, bonds can be issued at a par.

( )6. An expense always causes an increase in owner’s equity.

( )7. Expenses are sometimes described as “entity efforts” or “entity sacrifices” associated with the earning of revenue.

( )8. Gains arise from transactions and economic events that result in either revenues or owner investment

( )9. To determine profit (a net amount) from sales, it is necessary to subtract cost of goods sold from sales revenue.

( )10. As in current practice, the term earnings sometimes will be used as a synonym for gross income, or as a way of capturing the

elements (i.e., revenues, expenses, gains and losses) that make

up income.

IV. Choose the best answer. (20%)

() 1.CanTex had $54 in missing petty cash receipts. What is the correct treatment?

A. Debit Cash Over and Short for $54.

B. Credit Cash Over and Short for $54.

C. Debit Petty Cash for $54.

D. Credit Petty Cash for $54.

( ) 2.Zimbooru Company had $12 in extra cash at the end of the day. What is the correct treatment?

A. Credit Cash for $12.

B. Debit Cash for $12.

C. Credit Cash Over and Short for $12.

D. Debit Cash Over and Short for $12.

() 3.The custodian of a $500 petty cash fund has $62.50 in coins and currency plus $432.50 in receipts at the

end of the month. What will the entry to replenish the petty cash

fund include?