会计英语大作业(1)

会计英语期末大作业（2011-2012学年第1学期）

课号：013J04YFX

Please read the test paper carefully and write your answer on the answer sheet! ⅠExplain following terms(15%)

1.Owner’s equity

https://www.360docs.net/doc/c82952384.html,pound entry

3.Purchase requisition

4.V oucher register

5.Average-cost method

ⅡTrue of False(15%)

1.The credit side of an account implies something favorable.

2.Jorunalizing means entering the economic effect of each transaction in a journal in

chronological order under the double-entry system.

3.Internal reporting (i.e. , management accounting) must follow GAAP in all respects.

4.The net income for a period in the income statement will increase the balance of owner’s

equity.

5.Work capital equals quick assets less quick liabilities.

6.Long-term Bonds Payable that will be matured in the next accounting period will be

reclassified as current liability.

7.The term “prepaid”designates the seller is to bear the transportation cost and remit to the

freight company.

8.When a petty cash fund is established, Cash is debited, and Petty Cash is credited.

9. A system of authorization and approval is an example of internal control.

10.Only the purchase of merchandise may be recorded in the voucher register.

11.A company orders goods by sending the supplier a purchase requisition.

12.The percentage of credit sales method violates the matching principle.

13.It is possible for the proceeds of a discounted note receivable to be less than its face value.

14.Closing entries convert real and nominal accounts to zero balances.

15.A credit memorandum on a bank statement indicates an addition to the bank balance.

ⅢFill-In-The-Blanks (15%)

1. The three common forms of business organizations are corporation_________, ____partnership________and __ proprietorship_____.

2. The difference between the increases (including the beginning balance) and decreases recorded in an account is called the account __balance______.

3. “Assets = Liabilities + Owner's Equity” is called the _____accounting_______ equation or balance sheet equation.

4 An economic event that changes the financial position of an organization, and that often takes the form of an exchange of economic consideration between two parties, is called a business

_____transaction_______.

5 The statement of ____cash flow________ reports the changes in cash and cash equivalents over the reporting period.

6 Those long-term assets that lack physical form and their benefits are uncertain are called _____intangible_______ assets.

7 ____Full-disclosure ________ principle requires financial statements (including footnotes) to report all relevant information about the operations and financial position of the entity.

8 Amounts in the Unadjusted Trial Balance columns are taken from account balances in the _ worksheet ________.

9 In accounting, the term cash means paper money, coins, checks, money orders and __ bank deposits________ , all items that are acceptable for deposit in a bank.

10 Straight-line method of interest allocation is a method of amortization that allocates an equal amount of __interest______ to each accounting period in the life of bonds.

ⅣRecord the following transactions for A company in general entry form (35%)

1.May 1, Sold merchandise to B company $30,000; invoice #101, terms: 1/10, n/30; F.O.B.

destination; freight prepaid.

A/R $30,000

Sales 30,000

2.May 3, Paid freight bill on shipment to B company $1 000; check #101.

freight exp $1 000

A/P 1 000

3.May 10, Received a check from B company for $29,700, the amount due on the invoice #101. Cash 29700

Sales discount 300

A/R 30000

4.May 15, Wrote a check to establish the petty cash fund $300.

petty cash 300

Cash 300

5.May 31, Replenished the fund by check for $150. The following bills and receipts were on

hand: Postage $50, Repairs to dictaphone equipment $50, Stationery and small office supplies $50.

Miscellaneous exp 150

A/P 150

6.Dec.31, Received an $8,000, 90 days,

7.5% note from C company on account and Discounted

the note at the bank at 10%.

7.The following data is about inventory, assume the company uses perpetual inve ntory system,

make the entries for the ending inventory under LCM method, using direct method and allowance method separately.

Inventory At cost At market

Beginning of 2011 $100 000 100 000

End of 2011 115 000 95 000

8.On April 1,2011, Microware Enterprises purchased a high-speed floppy disk copier for $9

000. The copier has an estimated useful life of 5 years and an estimated residual value of $ 500. Microware’fiscal year ends December 31.

Determine depreciation expense for 2011, 2012 if Microware uses (1) the straight-line method;

(2)sum of year s’-the-digits method; (3) double declining method.

这几道题目知识有点忘记了，，，所以就没做

ⅤQuestions (10%)

1.If prices have been rising, which inventory method will yield:

(a)the lowest inventory amount? LIFO

(b)the lowest net income? LIFO

(c)the largest inventory amount? FIFO

(d)the largest net income? FIFO

2.Indicate whether the following items in a bank reconciliation should be (1) added to the

bank statement balance, (2) deducted from the bank statement balance, (3) added to the ledger account balance, (4) deducted from the ledger accounts balance:

(a)Bank sevice charge.(4)

(b)NSF check.(3)

(c)Deposit in transit.(1)

(d)Outstanding check.(2)

(e)Bank error charging company’s account with check of another company.(1)

(f)Difference of $360 in amount of check written for $378 but recorded in check register for

$738.(3)

ⅵTranslation(Chinese into English)（10%）

通常，用来保护其资产安全和会计记录可靠性的组织、计划和程序称为会计控制；而与经营效率和管理政策有关的程序和方法称为管理控制。有效的内部控制应包括以下几个方面：（1）称职的人员；（2）分派责任；（3）职能分工；（4）会计责任与保管工作分开；（5）适当的会计记录和设施；（6）人员轮换；（7）内部审计；（8）资产的实物保护。