会计英语期末试卷

FINANCIAL ACCOUNTING编号 成绩 true or fault1.Russll'Retail bought goods at $10000 which are marked up to $12500.What was the gross profit rate?a) $25% b)20% c)12.5% d)15%2.Gooden Company purchased and began depreciating a new truck on April 1,1999.The truck cost $60000,has a five-year service life, and a $12000 residual value. Assuming use of the double-declining method, what is the 1999 depreciation expense?a) $13440 b)$14400 c)$16800 d)$180003.A Co. purchased $8000 of merchandise on July 9 from B Co., FOB shipping point, term 2/10,n/30. Freight charges of $200 were paid by B Co. If A Co. settled the transaction on July 17, the company would pay: a)$7840 b)8040 c)8036 d)82004.Extraordinary items are:a)disclosed on the statement of retained earnings.b)disclosed as part of income from continuing operationsc)unusual or infrequent in natured)unusual and infrequent in nature5.Accumulated depreciation, as the term is used on financial accounting represents:a)cash set aside to replace plant assets when they are worn outb)earnings retained in the business that will be used to purchase another plant asset when the present asset becomes fully depreciatedc)the portion of the cost of an asset that has been written off as expense since acquisitiond)an expense to be shown on the income statement6.Using the data presented below, calculate the cost of goods sold for the ABC Company for 1999.Current ratio 3.5Acid ratio 3Current liabilities 12/31/1999 $600000Inventory 12/31/1998 $500000Inventory turnover 8The cost of goods sold for the ABC Company of 1999 was:a)$1600000 b)$2400000 c)$3200000 d)$64000007.Which of the following transactions would result in an increase in the current ratio if the ratio is presently 2:1?a) repaid a 90-day loanb)purchased merchandise on accountc)liquidated a long-term liabilityd)received payment of an accounts receivablee)none of the above8.An aging schedule indicated that M Co. had $12500 of uncollectible accounts. Yet, the adjusting entry for bad debts expense was prepared for only $6000. This situation arose because: a) There was a $6500 debit balance in the Allowance for Bad Debts account prior to adjustment.b) There was a $6500 credit balance in the Allowance for Bad Debts account prior to adjustment.c) The Bad Debts expense account had an existing balance of $6500d) $6500 of uncollectible accounts were written off during the accounting period.9.The LIFO inventory valuation method:a) is acceptable only if a company sells its newest goods first.b)will result in higher income levels than FIFO in periods of rising prices.c)will result in a match of fairly current inventory cost against recent selling prices on the income statement.d)cannot be used with a periodic inventory system .10.Four years ago, Harrison company invested $500,000,acquired 25% interest equity in M Co. During the next 3 years, M Co. reported earnings of $300,000 and paid dividends of $200,000. In the current year, M Co. reported earnings of $30,000 and paid dividends of $10,000. If Harrison use the equity method, the balance of the investment account and the current income from the investment should be respectively:a) $582,500 and $7500 b)$530,000 and $7500 c)$530,000 and $2500 d)$500000 and $2500 Bonds Transactions(15%):ABC company sold $800,000 of its 9%, 20 years bonds on April 1,1999, at 105. The semi-annual interest payment dates are April 1 and October 1.The effective interest rate is 8%. The company fiscal year ends Dec.31.Requirements:Prepare journal entries to record:1. The bond issuance on April.1, 1999.2. The first interest payment and amortization of premium on Oct.1(using effective interest method)3. The amortization of premium and interest expense on Dec.31,1999.(using straight-line method).XYZ Co. was formed on Jan.1999. The company is authorized to issue 100000 shares of $20 par-value common stock and 30000 shares of 6%, $10 par-value preferred stock. The following selected transactions occurred during the year(15%):1. Issued 80000 shares of common stock at $35 per share. 2. Issued 14000 shares of preferred stock at $12 per share.3. Required 5000 shares of treasury stock for $40 per share.4. Sold 500 shares of treasury stock at $25 per share.5. Declared cash dividend for $15000.Requirement:Make journal entries based on the information given above(compute the cash dividend for common stock and preferred stock respectively) Statement of cash flow(30%) Paper 1 Accounting ReportsInformation One： Colwell Corporation Income Statement For 2003 Sales $ 3,000,000 Cost of goods sold 1,200,000 $ 1,800,000 Expenses Selling &administrative $ 1,455,000 Building depreciation 25,000 Equipment depreciation 70,000 $ 1,550,000 $ 250,000 Other revenue (expense) Interest expense $ (200,000) Loss on sale of equipment (5,000) Gains on sale of L-T investment 15,000 (190,000 ) Income before income taxes $ 60,000 Income taxes 20,000 Net income $ 40,000 Information Two： Statement of Retained earning For 2003 Retained earnings, 1/1/2003 $ 450,000 Add: Net income 40,000 $ 490,000 Less: Cash dividends 15,000 Retained earnings,12/31/2003 $ 475,000 Information Three： Colwell Corporation Comparative Balance Sheet Dec.31,2002 and 2003 Assets 2003 2002 Current assets Cash $ 100,000 $ 50,000 Accounts receivable (net) 400,000 375,000 Inventory 425,000 450,000 Prepaid selling expenses 5,000 4,000 Total current assets $ 930,000 $ 879,000 Property, plant & equipment Land $ 200,000 $ 115,000 Building 1,450,000 1,250,000 Accumulated depreciation: building (50,000) (25,000) Equipment 725,000 800,000 Accumulated depreciation: equipment (250,000) (260,000) Total property, plant & equipment $2,075,000 $ 1,880,000 Other assets L--T investment $ 880,000 $ 1,000,000Total assets $ 3,885,000 $ 3,759,000Liabilities & Stockholders' EquityCurrent liabilities Accounts payable $ 470,000 $ 340,000 Notes payable --- 300,000 Income taxes payable 40,000 39,000 Total current liabilities $ 510,000 $ 679,000 L-T liabilities Bonds payable $ 2,070,000 $ 2,000,000 Stockholders' equity Common stock, par value $ 1 $ 195,000 $ 130,000 Paid-in capital in excess of par 635,000 500,000 Retained earnings 475,000 450,000 Total stockholders' equity $ 1,305,000 $ 1,080,000 Total liabilities &stockholders' equity $ 3,885,000 $ 3,759,000 Additional Information extracted from Colwell's accounting records:1.A parcel of land which cost $85,000 was purchased for cash on Oct.19.2.A building having a fair market value of $200,000 was acquired on the last day of the year in exchange for 65,000 shares of the company's $1 par-value common stock.3.Equipment of $100,000 was disposed of for cash on May 1.4.Equipment of $25,000 was purchased on Nov.1.5.The notes payable relate to money borrowed from First Pacific Trust in late 1998.6.$120,000 of long-term investments was sold for $135,000, generated a gain of $15,000.7.Bonds of $70,000 were issued at face value on Feb.14.Requirements:Prepare the Statement of Cash Flow in good form for Colwell Corporation under indirect approach.

a. the company had $19,250 at the close of business on September 30.b. the amount of sales on account that occured in October is $102,890

A公司于2010年1月2日以22万（美）元收购了B公司44%的有表决权的股票。A公司在B公司这44%的股权使A公司对B公司的运营与财务政策有能力行使重要影响力。2010年B公司盈利10万，分得红利5万。B公司报告截止2011年6月30日的盈利为15万，截止2011年12月31日的盈利为20万。2011年7月1日，A公司将其在B公司的一半股份以16万现金卖掉。B公司于2011年10月1日分得红利6万。你的问题呢？

马克有限公司进行了为期60天， 6 ％ ，说明$ 20000 ，月Sep.10 ，这是他收到的客户对account.On洛杉矶，说明是折扣在银行的速度10 ％ 。 查找：一）成熟的价值的说明。 b ）该数额的折扣。 c ）该数额的收益。20000*(1+6%/6)=20200 the maturity value of the note is $20200 20200*10%*[(60-40)/360]=112.22 the amount of the discount is $112.22 the amount of the proceeds is $20087.78

在本年度结束时，应收账款账户的借方余额为6000和净销售额为一年总额为100000 。确定的数额调整进入记录提供可疑帐户以下每个假设：1 ）帐户的津贴调整前的信贷余额为3000和无法收回帐款的费用估计为1 ％的净销售额.2 ）津贴帐户调整前的借方余额为$ 500 ，并与分析帐户的客户总分类账表明可疑帐款$ 2000 祝你好运