会计专业英语习题答案共73页word资料
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Chapter. 1
1-1
As in many ethics issues, there is no one right answer. The local newspaper reported on this issue in these terms: "The company covered up the first report, and the local newspaper uncovered the company's secret. The company was forced to not locate here (Collier County). It became patently clear that doing the least that is legally allowed is not enough."
1-2
1. B
2. B
3. E
4. F
5. B
6. F
7. X 8. E 9. X 10. B
1-3
a. $96,500 ($25,000 + $71,500)
b. $67,750 ($82,750 – $15,000)
c. $19,500 ($37,000 – $17,500)
1-4
a. $275,000 ($475,000 – $200,000)
b. $310,000 ($275,000 + $75,000 – $40,000)
c. $233,000 ($275,000 – $15,000 – $27,000)
d. $465,000 ($275,000 + $125,000 + $65,000)
e. Net income: $45,000 ($425,000 – $105,000 – $275,000)
1-5
a. owner's equity
b.liability
c.asset
d.asset
e.owner's equity
f. asset
1-6
a. Increases assets and increases owner’s equity.
b. Increases assets and increases owner’s equity.
c. Decreases assets and decreases owner’s equity.
d. Increases assets and increases liabilities.
e. Increases assets and decreases assets.
1-7
1. increase
2. decrease
3.increase
4.decrease
1-8
a. (1) Sale of catering services for cash, $25,000.
(2) Purchase of land for cash, $10,000.
(3) Payment of expenses, $16,000.
(4) Purchase of supplies on account, $800.
(5) Withdrawal of cash by owner, $2,000.
(6) Payment of cash to creditors, $10,600.
(7) Recognition of cost of supplies used, $1,400.
b. $13,600 ($18,000 – $4,400)
c. $5,600 ($64,100 – $58,500)
d. $7,600 ($25,000 – $16,000 – $1,400)
e. $5,600 ($7,600 – $2,000)
1-9
It would be incorrect to say that the business had incurred a net loss of $21,750. The excess of the withdrawals over the net income for the period is a decrease in the amount of owner’s equity in the business.
1-10
Balance sheet items: 1, 3, 4, 8, 9, 10
1-11
Income statement items: 2, 5, 6, 7
1-12
MADRAS COMPANY
Statement of Owner’s Equity
For the Month Ended April 30, 2006
Leo Perkins, capital, April 1, 2006 ........ $297,200
Net income for the month ................... $73,000
Less withdrawals ........................... 12,000
Increase in owner’s equity................ 61,000
Leo Perkins, capital, April 30, 2006 ....... $358,200
1-13
HERCULES SERVICES
Income Statement
For the Month Ended November 30, 2006
Fees earned ................................ $232,120
Operating expenses:
Wages expense ............................ $100,100