会计专业英语练习题

Chapter 2 Accounting Concepts and Principles
财务报表要素
Asset 资产
Liability 负债
Equity 所有者权益、股本
Revenue 收入
Expense 费用
Gain 利得
Loss 损失
For each item below, indicate to which category of elements of financial statements it belongs.
每个项目下面，说明这类财务报表要素属于.
(a) Retained earnings 留存收益equity
(b) Sales 销售revenue
(c) Additional paid-in capital 股本溢价equity
(d) Inventory 存货asset
(e) Depreciation 折旧费expense
(f) Dividends 股息equity
(g) Gain on sale of investment 出售投资收益gain
(h)Interest payable 应付利息liability
(i)Loss on sale of equipment 销售设备的亏损loss
(j) Issuance of common stock 发行普通股equity
Chapter 3 Financial Statements
Exercise 1. Presented on the next page are the captions of Faulk Company’s balance sheet.在下一页的标题的福克公司的资产负债表。

(a) Current assets. (f) Current liabilities.
(b) Investments. (g) Non-current liabilities.
(c) Property, plant, and equipment. (h) Capital stock.
(d) Intangible assets. (i) Additional paid-in capital.
(e) Other assets. (j) Retained earnings.
(a)流动资产
(b)投资
(c固定资产
(d)无形资产
(e)其他资产(f)流动负债
(g)非流动负债。

(h)股本
(i)股本溢价(j)留存收益。

Instructions
Indicate by letter where each of the following items would be classified.
1. Preferred stock. 11. Cash surrender value of life insurance.
2. Goodwill. 12. Notes payable (due next year).
3. Wages payable. 13. Office supplies.
4. Trade accounts payable. 14. Common stock.
5. Buildings. 15. Land.
6. Trading securities. 16. Bond sinking fund.
7. Current portion of long-term debt. 17. Merchandise inventory.
8. Premium on bonds payable. 18. Prepaid insurance.
9. Allowance for doubtful accounts. 19. Bonds payable.
10. Accounts receivable. 1优先股
2商誉
3应付工资
4贸易应付帐款
5建筑物
6证券交易。

7长期债务的当期部分8应付债券溢价
9坏账准备
10应收账款20. Taxes payable.
11人寿保险现金解约价值12应付票据（明年）
13办公用品
14普通股
15土地
16债券偿债基金
17商品库存
18预付保险费
19应付债券
20应付税款
(a)流动资产6.9.10.13.17.18
(b)投资16
(c固定资产5.15
(d)无形资产2
(e)其他资产11 (f)流动负债3.4.7.12.20
(g)非流动负债8.19
(h)股本1.14
(i)股本溢价
(j)留存收益
Exercise 2. The accounting department supplied the following data in recording the September 30 bank statement for Rytton, Inc.
Closing cash balance per bank statement $15 496.91 Closing cash balance per cash book 14 692.71 Deposits in transit 2 615.23
Bank service charge 25.00 Outstanding checks 3 079.51
Note collected by bank including $45 interest (Rytton not yet
1 045.00 notified)
617.08
Error by bank-check drawn by Rytten Corp. was charged to
Rytton’s account
A sale and deposit of $1 729.00 was entered in the sales journal and cash receipts journal as $1 792.00.
银行：15496.91 企业：14692.71
加2615.23 617.08 加1045
减3232.31 减25
63
平衡：15649.71
Instructions
Prepare the September 30 bank reconciliation.
Exercise 3. A machine is purchased at the beginning of 2002 for $36 000. its estimated life is 6 years. Freight costs on the machine are $2 000. Installation costs are $1 200. The machine is estimated to have a residual value of $500 and a useful life of 40 000 hours. It was used 6 000 hours in 2002. 2002年初采购机器价款36000美元，估计有6年寿命。

机器的货运成本是2000美元，安装成本是1200美元。

该机预计净残值为500美元，可以使用寿命40000小时。

在过去的2002一年它使用了6000小时。

Instructions
What is the cost of the machine for accounting purposes? 36000+2000+1200=39200 Compute the depreciation charge for 2002 using 计算2002年的折旧费(a) the straight-line method 直线法and (b) the service-hours method.工作量法
（a）直线法（平均年限法）
年折旧额=（固定资产原值-预计净残值）/预计使用年限
2002年折旧额=（39200-500）/6=6450
（b）工作量法
单位工作量折旧费=（固定资产原值-预计净残值）/预计工作总量
年折旧额=当年实际工作量*单位工作量折旧费
单位….= （39200-500）/40000=0.9675
2002年折旧额=0.9675*6000=5805
Exercise 3.
Mick Inc. has outstanding 10,000 shares of $10 par value common stock. On July 1, 2008, Mick reacquired 100 shares at $85 per share. On September 1, Mick reissued 60 shares at $90 per share. On November 1, Mick reissued 40 shares at $83 per share.
Instructions
Prepare Mick’s journal entries to record these transactions using (a) the cost method, (b) the par value method.
麦克公司拥有优秀的10000股，面值10美元的普通股。

2008年7月1日，麦克发行100股每股85美元。

九月一日，麦克发行60股每股90美元。

十一月一日，麦克发行40股每股83美元。

米克的预备日记帐分录记录下这些交易使用的（a）成本法(b)帐面价值的方法。

（a）成本法：the cost method
7/1/08 Treasury stock (100*85) 8500
Cash 8500
9/1/08 Cash(60*90) 5400
Treasury stock (60*85) 5100
Paid-in capital from treasury stock 300
11/1/08 Cash(40*83) 3320
Paid-in capital from treasury stock 80
Treasury stock (40*85) 3400
（b）帐面价值的方法：the par value method
7/1/08 Treasury stock (100*10) 1000
Paid-in capital from treasury stock 7500
Cash (100*85) 8500
9/1/08 Cash (60*90) 5400
Treasury stock (60*10) 600
Paid-in capital from treasury stock 4800
11./1/08
Cash (40*83) 3320
Paid-in capital from treasury stock 2920
Treasury stock (40*10) 400
1. The economic resources of a business are called: B
A. Owner’s Equity
B. Assets
C. Accounting equation
D. Liabilities
2. 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: D
A. 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: A
A. 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: D
A. 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? D
A. Beginning inventory 期初存货
B. Cost of goods sold. 销货成本
C. Cost of goods available for sale
D. Ending inventory 期末存货
6. Why do companies prefer the LIFO inventory后进先出法method during a period of rising prices? B
A. Higher reported income
B. Lower income taxes
C. Lower reported income
D. Higher ending inventory
7. Which of the following characteristics would prevent an item from being included in the classification of plant and equipment? D
A. Intangible
B. Unlimited life
C. Being sold in its useful life
D. Not capable of rendering benefits to the business in the future.
8. Which account is not a contra-asset account? B
A. Depreciation Expense
B. Accumulated Depletion
C. Accumulated Depreciation
D. Allowance for Doubtful Accounts
9. What are the two factors that make ownership of an interest in a general partnership particularly risky? A
A. Mutual agency and unlimited personal liability
B. Limited life and unlimited personal liability.
C. Limited life and mutual agency.
D. Double taxation and mutual agency
10. Which of the following types of business owners do not take an active role in the daily management of the business? D
A. General partners
B. Limited liability partners
C. Sole proprietors 个体经营者
D. Stockholders in a publicly owned corporation
11. Analysts can use the footnotes to the financial statements to D
A. Help their analysis of financial statements
B. Help their understanding of financial statements
C. Help their checking of financial statements.
D. All of the above
12. 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? C
A. 0.125
B. 0.208
C. 0.333
D. 3.0
13. The horizontal analysis is used mainly to A
A. Analyzing financial trends
B. Evaluating financial structure
C. Assessing the pat performances
D. Measuring the term-paying ability
14. Among the following ratios, which is used for long-term solvency analysis? 长期偿债能力分析A
A. Current ratio 流动比率
B. Times-interest-earned ratio
C. Operating cycle
D. Book value per share
15. A profit-making business that is a separate legal entity and in which ownership is divided into shares of stock is known as a D
A. Sole proprietorship 个体独资公司
B. Single proprietorship
C. 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 bank on December 1.
(2) Prepare the adjusting journal entry to record accrual of the interest payable on the loan on December 31.
(3) Prepare the presentation of the liability to the bank on ME’s
December balance sheet.
Answer:
(1) Debit: cash $250000
Credit: current liabilities $250000
(2) Debit: Accrual Expense $5000 不确定
Credit: Interest Payable $5000
(3) P39
2. 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 0000 Balance p er depositor’s records 18 860 Outstanding 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:P42
3. 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$12000
Credit: Allowance for Doubtful Accounts坏账准备$12000
(2) Debit: Allowance for Doubtful Accounts $500
Credit: Accounts Receivable $500
(3) Debit: Accounts Receivable $500
Credit: Allowance for Doubtful Accounts $500 Debit: Cash $500 Credit: 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。

（3）Accounting 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. Th erefore, 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”。

（4）The 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。