会原期中复习题题选

会原期中复习题
Part I. Multiple Choice
1.External users of financial accounting information include all of the following except:
A.Investors
bor unions
C.Line managers
D.General public
2. A trial balance has total debits of $20,000 and total credits of $24,500. Which one of the following errors would create this imbalance?
A. A $2,250 debit to Rent Expense in a journal entry is incorrectly posted to the ledger as a
$2,250 credit, leaving the Rent Expense account with a $3,000 debit balance.
B. A $4,500 debit to Salaries Expense in a journal entry is incorrectly posted to the ledger as a $4,500
credit, leaving the Salaries Expense account with a $750 debit balance.
C. A $2,250 credit to Consulting Fees Earned in a journal entry is incorrectly posted to the ledger as
a $2,250 debit, leaving the Consulting Fees Earned account with a $6,300 credit balance.
3. Amalia Company received its utility bill for the current period of $700 and immediately paid it. Its journal entry to record this transaction includes a
a. Credit to Utility Expense for $700.
b. Debit to Utility Expense for $700.
c. Debit to Accounts Payable for $700.
d. Debit to Cash for $700.
e. Credit to Capital for $700.
4. Overland purchased $3,000 of merchandise from Overseas. The credit terms were 2/10, n/30. The freight terms were FOB shipping point. Freight costs of $60 were included in the invoice. What journal entry should Overland record, assuming Overland uses a perpetual inventory system?
A.Merchandise Inventory, debit, $3,000; delivery expense, debit, $60; Accounts Payable, credit,
$3,060
B.Merchandise Inventory, debit, $3,000; Accounts Payable, credit, $3,000
C.Merchandise Inventory, debit, $2,940; Accounts Payable, credit, $2,940
D.Merchandise Inventory, debit, $3,060; and Accounts Payable, credit, $3,060.
Applied separately to each product, the inventory’s lower of cost or market amount is:
A. $520
B. $410
C. $670
D. $600
E. None of the above
6．If the petty cash fund is not replenished at the end of the accounting period, which will not be true?
income will be overstated or net loss will be understated
B.Liabilities will be overstated on the balance sheet
C.The cash for the firm will be overstated
D.The expenses will be understated
E.The income statement and the balance sheet will not be correct
7. A company needs to replenish its $500 petty cash fund. Its petty cash box has $75 cash and petty cash receipts of $420. The journal entry to replenish the fund includes
a. A debit to Cash for $75.
b. A credit to Cash for $75.
c. A credit to Petty Cash for $420.
d. A credit to Cash Over and Short for $5.
e. A debit to Cash Over and Short for $5
8. According to the rules of debit and credit for balance sheet accounts:
A.Increases in asset, liability and owners’ equity accounts are recorded by debits
B.Decrease in asset and liability accounts are recorded by credits.
C.Increases in asset and owners’ equity accounts are recorded by debits.
D.Decrease in liability and owners’ equity accounts are recorded by debits.
9. Which of the following is provided by a trial balance in which total debits equal total credits:
A.Proof that no transaction was completely omitted from the ledger during the posting process.
B.Proof that the correct debit or credit balance has been computed for each account
C.Proof that the ledger is in balance
D.Proof that transactions have been correctly analyzed and recorded in the proper account.
10. The CPA firm auditing Mason Street Recording Studios found that total stockholders’ equity was understated and liabilities were overstated. Which of the following errors could have been the cause:
A.Failure to record the earned portion of fees received in advance.
B.Making the adjustment entry for depreciation expense twice.
C.Failure to record interest accrued on a note payable.
D.Failure to make the adjusting entry to record revenue that had been earned but not yet billed to
clients
11. Which of the following types of information isn’t found in subsidiary ledger, but in the general ledger?
A.Total cost of goods sold for the period
B.The quantity of a particular product sold during the period
C.The dollar amount owed to a particular creditor
D.The dollar amount payable to a vendor
12. Fashion House uses a perpetual inventory system. At the beginning of the year, inventory amounted
to $50,000. During the year, the company purchased merchandise for $230,000, and sold merchandise costing $245,000. A physical inventory taken at year-end indicated shrinkage losses of $4,000. Prior to recording these shrinkage losses, the year-end balance in the company’s Inventory account was:
A. $31,000
B. $35,000
C. $50,000
D. Some other amount
13. T-Shirt City uses a periodic inventory system. During the first year of operations, the company made four purchases of a particular product. Each purchase was for 500 units and the prices paid were $9 per unit in the first purchase, $10 per unit in the second purchase, $12 per unit in the third purchase, and $13 per unit in the fourth purchase. At year end, 650 of these units remained unsold. Compute the cost of good sold under the FIFO method and LIFO method respectively:
A.$13,700 (FIFO) and $16,000(LIFO)
B.$8,300(FIFO) and $6,000(LIFO)
C.$16,000(FIFO) and $13,700(LIFO)
D.$6,000(FIFO) and $8,300(LIFO)
14. Examples of the source documents used in accounting are:
A.Journals and ledgers
B.Income statement and balance sheet
C.External transactions and internal transactions
D.Bank statement and sales slips
E.All of the above
15. Related to the process of preparing closing entries:
A.Expenses, revenues, and withdrawals account are closed to Income Summary.
B.All expense accounts are first closed to the revenue accounts, which are then closed to Income
Summary
C.After the process is completed, the Income Summary account balance equals net income or net
loss for the period.
D.After the process is completed, all temporary accounts have zero balances
E.None of the above
（单选题一般是25道题，每题1分。

有几个知识点是常考的：
1.会计信息内部使用者，外部使用者
2.借贷记账错误会导致等式左右边的变化
3.FOB shipping point 算作merchandise inventory
4.LCM
5.在多个选项中选择哪些不是统驭账户controlling account
6.petty cash account
7.income statement, balance sheet, the statement of owner’s equity 的编制顺序
8.internal control 中的Cash receipts
9.FIFO 、LIFO
10.一个记账错误导致高估或低估某个账户
11.哪些是属于SOURCE DOCUMENTS
12.所有closing的步骤结束后，临时性账户余额都为0。

）
Part II. True or False
（一般是10道题，每道1.5分。

多是概念细节的考查，重点同选择题，常考永久性账户，FIFO/LIFO 等。

因为概念是书上有的，且泛而杂，所以没有提炼此题型的题目。

）
Part III. Problems
1. Arnez Co. follows the practice of recording prepaid expenses and unearned revenues in balance sheet accounts. Arnez’s annual accounting peri od ends on December 31, 2008. The following information concerns the adjusting entries to be recorded as of that date.
a. The Office Supplies account started the year with a $4,000 balance. During 2008, the company purchased supplies for $13,400, which was added to the Office Supplies account. The inventory of supplies available at December 31, 2008, totaled $2,554.
b. An analysis of the company’s insurance policies provided the followin g facts.
Policy date of purchase months of coverage cost
A April 1, 2007 24 $14,400
B April 1, 2008 36 12,960
C August 1, 2008 12 2,400
The total premium for each policy was paid in full (for all months) at the purchase date, and the Prepaid Insurance account was debited for the full cost. (Year-end adjusting entries for Prepaid Insurance were properly recorded in all prior years.)
c. The company has 15 employees, who earn a total of $1,960 in salaries each working day. They are paid each Monday for their work in the five-day workweek ending on the previous Friday. Assume that December 31, 2008, is a Tuesday, and all 15 employees worked the first two days of that week. Because New Year’s Day is a paid holiday, they will be paid salaries for five full days on Monday, January 6, 2009.
d. The company purchased a building on January 1, 2008. It cost $960,000 and is expected to have a $45,000 salvage value at the end of its predicted 30-year lif
e. Annual depreciation is $30,500.
e. Since the company is not large enough to occupy the entire building it owns, it rented space to a tenant
at $3,000 per month, starting on November 1, 2008. The rent was paid on time on November 1,
and the amount received was credited to the Rent Earned account. However, the tenant has not paid the December rent. The company has worked out an agreement with the tenant, who has promised
to pay both December and January rent in full on January 15. The tenant has agreed not to fall
behind again.
f. On November 1, the company rented space to another tenant for $2,800 per month. The tenant paid five months’ rent in advance on that date. The payment was recorded with a credit to the Unearned Rent account.
Required
1). Use the information to prepare adjusting entries as of December 31, 2008.
2). Prepare journal entries to record the first subsequent cash transaction in 2009 for parts c and e.
Answer:
Part 1
Adjustment (a)
Dec. 31 Office Supplies Expense .................................................................. 14,846
Office Supplies ...................................................................... 14,846 To record cost of supplies used
($4,000 + $13,400 - $2,554).
Adjustment (b)
31 Insurance Expense .......................................................................... 11,440
Prepaid Insurance ................................................................ 11,440
To record annual insurance coverage cost.
A $600 ($14,400/24 mo.) 12 $ 7,200
B 360 ($12,960/36 mo.) 9 3,240
C 200 ($ 2,400 /12 mo.) 5 1,000
Total $11,440
Adjustment (c)
31 Salaries Expense .............................................................................. 3,920
Salaries Payable .................................................................... 3,920 To record accrued but unpaid wages (2
days x $1,960).
Adjustment (d)
Dec. 31 Depreciation Expense—Building ................................................... 30,500
Accumulated Depreciation—Building ................................ 30,500 To record annual depreciation expense
[($960,000 -$45,000) / 30 years = $30,500]
Adjustment (e)
31 Rent Receivable ........................................................................... 3,000
Rent Earned ...................................................................... 3,000 To record earned but unpaid Dec. rent.
Adjustment (f)
31 Unearned Rent ............................................................................ 5,600
Rent Earned ...................................................................... 5,600
To record the amount of rent earned for
November and December (2 x $2,800).
Part 2
Cash Payment for (c)
Jan. 6 Salaries Payable .......................................................................... 3,920
Salaries Expense* ........................................................................ 5,880
Cash ................................................................................... 9,800 To record payment of accrued and current
salaries. *(3 days x $1,960)
Cash Payment for (e)
15Cash .............................................................................................. 6,000
Rent Receivable ................................................................ 3,000
To record past due rent for two months.
2. The following information is available to reconcile Branch Company’s book balance of cash with its
bank statement cash balance as of July 31, 2008.
a. After all posting is complete on July 31, the company’s Cash account has a $27,497 debit balance,
but its July bank statement shows a $27,233 cash balance.
b. Check No. 3031 for $1,482 and Check No. 3040 for $558 were outstanding on the June 30 bank reconciliation. Check No. 3040 is listed with the July canceled checks, but Check No. 3031 is not.
Also,
Check No. 3065 for $382 and Check No. 3069 for $2,281, both written in July, are not among the
canceled checks on the July 31 statement.
c. In comparing the canceled checks on the bank statement with the entries in the accounting records,
it is found that Check No. 3056 for July rent was correctly written and drawn for $1,270 but was
erroneously
entered in the accounting records as $1,250.
d. A credit memorandum enclosed with the July bank statement indicates the bank collected $8,000
cash on a noninterest-bearing note for Branch, deducted a $45 collection fee, and credited the
remainder
to its account. Branch had not recorded this event before receiving the statement.
e. A debit memorandum for $805 lists a $795 NSF check plus a $10 NSF charge. The check had been
received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF.
f. Enclosed with the July statement is a $25 debit memorandum for bank services. It has not yet been
recorded because no previous notification had been received.
g. Branch’s July 31 daily cash receipts of $11,514 were placed in the bank’s night depository on that
date, but do not appear on the July 31 bank statement.
Required
1. Prepare the bank reconciliation for this company as of July 31, 2008.
2. Prepare the journal entries necessary to bring the company’s b ook balance of cash into conformity
with the reconciled cash balance as of July 31, 2008.
Answer:
Part 1
Bank statem ent balance .................................................. $27,233 Book balance ................................................................................$27,497 Add Add
Deposit of July 31 ....................................................... 11,514
38,747 Proceeds of note less
collection charge ............................................................... 7,955
35,452
Deduct Deduct
Checks No. 3031 ................ $1,482 NSF check .......................................................... $ 805
3065 ................ 382 Service charge.. (25)
3069 ................ 2,281 4,145 Error (Check 3056) .................................... 20 850 Adjusted bank balance..................................................... $34,602 Adjusted book balance ............................................................$34,602
Part 2
July 31 Cash .................................................................................................................7,955
Collection Expense (45)
Notes Receivable .................................................................................8,000 To record note collection less fees.
July 31 Accounts Receivable—E. Shaw (805)
Cash (805)
To charge account for NSF check plus fees.
July 31 Miscellaneous Expenses (25)
Cash (25)
To record bank service fee.
July 31 Rent Expense (20)
Cash (20)
To correct an entry error.
3. Valley Company’s adjusted trial balance on August 31, 2008, its fiscal year-end, follows.
Merchandise inventory . . . . . . . . . . . . $ 41,000
Other (noninventory) assets . . . . . . . . 130,400
Total liabilities . . . . . . . . . . . . . . . . . . $ 25,000
K.Valley, Capital . . . . . . . . . . . . . . . . . 104,550
K.Valley,Withdrawals . . . . . . . . . . . . . 8,000
Sales . . . . . . . . . . . . . . . . . . . . . . . . . 225,600
Sales discounts . . . . . . . . . . . . . . . . . 2,250
Sales returns and allowances . . . . . . . 12,000
Cost of goods sold . . . . . . . . . . . . . . 74,500
Sales salaries expense . . . . . . . . . . . . 32,000
Rent expense—Selling space . . . . . . . 8,000
Store supplies expense . . . . . . . . . . . . 1,500
Advertising expense . . . . . . . . . . . . . . 13,000
Office salaries expense . . . . . . . . . . . . 28,500
Rent expense—Office space . . . . . . . 3,600
Office supplies expense . . . . . . . . . . . 400
Totals . . . . . . . . . . . . . . . . . . . . . . . . $355,150 $355,150
On August 31, 2007, merchandise inventory was $25,400. Supplementary records of merchandising activities for the year ended August 31, 2008, reveal the following itemized costs:
Invoice cost of merchandise purchases . . . . . . . $92,000
Purchase discounts received . . . . . . . . . . . . . . . 2,000
Purchase returns and allowances . . . . . . . . . . . . 4,500
Costs of transportation-in . . . . . . . . . . . . . . . . 4,600
Required
1. Prepare closing entries as of August 31, 2008 (the perpetual inventory system is used).
Answer:
Aug. 31 Sales ............................................................................................ 225,600
Income Summary ............................................................... 225,600 To close temporary accounts with credit
balances.
Aug. 31 Income Summary .......................................................................... 175,750
Sales Discounts ................................................................ 2,250
Sales Returns and Allowances .......................................... 12,000
Cost of Goods Sold ............................................................ 74,500
Sales Salaries Expense ....................................................... 32,000
Rent Expense—Selling Space ............................................ 8,000
Store Supplies Expense ...................................................... 1,500
Advertising Expense .......................................................... 13,000
Office Salaries Expense...................................................... 28,500
Rent Expense—Office Space ............................................. 3,600
Office Supplies Expense (400)
To close temporary accounts with debit
balances.
Aug. 31 Income Summary .......................................................................... 49,850
K. Valley, Capital ............................................................... 49,850 To close the Income Summary account.
Aug. 31 K. Valley, Capital.......................................................................... 8,000
K. Valley, Withdrawals ...................................................... 8,000 To close the withdrawals account.
4. Kiona Co. set up a petty cash fund for payments of small amounts. The following transactions
involving
the petty cash fund occurred in May (the last month of the c ompany’s fiscal year).
May 1 Prepared a company check for $300 to establish the petty cash fund.
15 Prepared a company check to replenish the fund for the following expenditures made since
May 1.
a. Paid $88 for janitorial services.
b. Paid $53.68 for miscellaneous expenses.
c. Paid postage expenses of $53.50.
d. Paid $47.15 to The County Gazette (the local newspaper) for an advertisement.
e. Counted $62.15 remaining in the petty cash box.
16 Prepared a company check for $200 to increase the fund to $500.
31 The petty cashier reports that $288.20 cash remains in the fund. A company check is drawn
to replenish the fund for the following expenditures made since May 15.
f. Paid postage expenses of $147.36.
g. Reimbursed the office manager for business mileage, $23.50.
h. Paid $34.75 to deliver merchandise to a customer, terms FOB destination.
31 The company decides that the May 16 increase in the fund was too large. It reduces the fund
by $100, leaving a total of $400.
Required
1. Prepare journal entries to establish the fund on May 1, to replenish it on May 15 and on May 31,
and to reflect any increase or decrease in the fund balance on May 16 and May 31.
Answer:
May 1 Petty Cash .........................................................................................................300.00
Cash .......................................................................................................300.00 To establish the $300 petty cash fund.
May 15 Janitorial Expenses ..........................................................................................88.00
Miscellaneous Expenses ...................................................................................53.68
Postage Expenses ..............................................................................................53.50
Advertising Expense ........................................................................................47.15
Cash Over and Short ........................................................................... 4.48
Cash .......................................................................................................237.85 To reimburse the petty cash fund.
May 16 Petty Cash .........................................................................................................200.00
Cash .......................................................................................................200.00 To increase the petty cash fund to $500.
Note: The May 31 entries can be combined into one entry.
May 31 Postage Expenses ..............................................................................................147.36 Mileage Expense ...............................................................................................23.50
Delivery Expense ..............................................................................................34.75
Cash Over and Short ....................................................................................... 6.19
Cash .......................................................................................................211.80 To reimburse the petty cash fund.
May 31 Cash ...................................................................................................................100.00
Petty Cash .............................................................................................100.00 To decrease the petty cash fund to $400.
（problems一般是5道题，共有60分）
各位：
以上是根据之前期中考试试卷总结出的相应题型，只作为参考。

因为总会有变化的，唯有踏实
掌握每一个知识点，才能以不变应万变。

祝各位考试顺利，取得好成绩！
——文静2010-4-30
11。