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会计英语练习题

会计英语练习题
会计英语练习题

1. Baesd on income statement, balance sheet and cash flow statement of YUM! Brands, Inc. and other information, shown as followings: (48 scores)

(1) Translate 3 cash flow statement items into Chinese: (6 scores)

① Purchases of property, plant, and equipment

② Payment of dividends and other distributions to stockholders

③ Net Increase in cash and cash Equivalents

(2)Calculate required financial indicators on Dec. 31, 2011: (20 scores)

①Current ratio=

②Quick ratio=

③Debt-to-equity=

④long-term debt-to equity=

⑤ Times-interest-earned=

⑥ G ross profit percentage=

⑦Inventory turnover=

⑻Days inventory held=

⑨Receivable turnover=

⑩ Days receivable=

YUM! Brands, Inc. Statement of Income for the Years

Ended Dec. 31, 2011 and 2010

(In millions) 2011 2010 Revenues

Company sales $9,365 $9,225 Franchise and license fees 196 124 Total revenues 9,561 9,349 Expenses

Cost of goods sold 2,249 2,284

Payroll and employee benefits expense 2,442 2,471

Occupancy and other operating expenses 2,403 2,315

General and administrative expenses 1,187 1,158

Other operating expenses (income) 18 (32)

Total expenses 8,229 8,196

Operating profit 1,262 1,153

Interest expense 154 127

Income before income taxes 1,108 1,026

Income tax expense 284 264

Net income$ 824 $ 762

YUM! Brands, Inc. Balance (Adapted) December 31, 2011,and 2010

(In millions) 2011 2010

ASSETS

Current Assets

Ca sh and cash equivalents……………………$310 $150

Short-term investments…………………………… 15 51

Accounts and note receivable………………… 220 236

Inventories……………………………………… 93 85

Prepaid expenses and other current assets… 263 333

Total Current Assets………………………… 901 855 Property, plant and equipment, at cost. 6,777 $6,186

Less: Accumulated depreciation………….. (3,146) (2,830)

Property, plant and equipment, net………… 3,631 3,356

Intangible assets…………………………… 1,009 868

Investments…………………………… .. 138 173

Other assets………………………………… 674 545

Total Assets…………………………… $6,353 $ 5,797 LIABILITIES

Current Liabilities

Accounts payable………………………… . $554 $473

Income taxes payable…………………… 37 79

Short-term borrowings (Notes payable)……… 22 211

Sal aries and wages payable………………… 302 274

Othe r current liabilities………………………… 604 586

T otal Current Liabilities……………… 1,724 1,623

Long-term debt…………………………… 2,045 1,649

Other long-term liabilities……………………… 1,147 1,076

Total Liabilities……………………………… 4,916 4,348

SHAREHOLDERS’ EQUITY

Common stock…………………………… 23 20

Paid-in capital 12 14

Treasury stock (8) (6)

Retained earnings…………………… 1,593 1,619

Other equity………………………………. (183) (198)

T otal Shareholders’ Equity………… 1,437 1,449

Total Liabilities and Shareholders’ Equity $6,353 $5,797

YUM! Brands, Inc.

Statement of Cash Flows (Adapted)

Years Ended December 31, 2011,and 2010

(In millions) 2011 2010

Cash Flows---Operating Activities

Net income ………………………………… . $ 824 $762

Adjustments to reconcile net income to net cash

Provided by operating activities …………… 478 476

Net Cash Provided by Operating Activities 1,302 1,238

Cash Flows---Investing Activities

Purchases of property, plant, and equipment….. (614) (609)

Sales of property, plant, and equipment… 57 81

Other ………………………………………. 81 183

Net Cash Used in Investing Activities… (476) (345)

Cash Flows---Financing Activities

Issuance of common stock……………… ——

Issuance of short-term and long-term debt

(Borrowing)……………………………… 540 160

Repayments of short-term and long-term debt (288) (48)

Payment of dividends and other distributions

to stockholders………………………… (850) (210)

Other payments…………………… (67) (733)

Net Cash Used in Financing Activities… (665) (831)

Net Increase in cash and cash Equivalents……. 161 62

Cash and Cash Equivalents---Beginning of Year 158 96

Cash and Cash Equivalents---End of Year…… $ 319 $ 158

(3) Supposed, the numbers of common stock are 110,134,256 and 110,026,782 shares for Dec. 31, 2011 and Dec. 31, 2010 respectively. The numbers of treasury stock on Dec. 31, 2011 and Dec. 31, 2010 are 200,000 and 195,000 shares respectively. The closing price of common stock is $15.25 per share and on Dec. 31, 2011, and $11.25 per share on Dec. 31, 2010, and there is no cash dividends distribution from Dec. 31, 2010 to Dec. 31, 2011. Calculate required financial indicators on Dec. 31, 2011: (10 scores)

Market-to-book ratio=

Accounting return on equity=

Economic return on equity=

(4) Point out the asset items classified into BvA1 and BvA3. (8 scores)

BvA1 items:

BvA3 items:

(5) Do the balance sheet and income statement of YUM! Brands, Inc give a clear or cloudy picture of its activities? (4 scores)

2. Make ordinary accounting entries and adjustment accounting entries and/or closing accounting entries at ending date of 2011, if any.

(52 scores)

1.Bob and Betsy decided to incorporate Wesell Inc. They became two owners of Wesell Inc. by each contributing $700,000 cash to the business on January 1, 2011. (2 scores)

2.Bob and Betsy decided Wesell will borrow some money. On January 2, 2011, Wesell opted to issue bonds and received $00,000 cash, the bonds pay 6% interest annually (On January 2 of each year) and fall due on January 2, 2020. (4 scores)

3.On January 3, 2011, Wesell bought computers and office equipment for $30,000. The expected useful life is 5 years, and expected net salvage value is $5 000. (4 scores)

4.On January 4, 2011, Wesell purchased $3,000 of supplies on credit. An physical count for them found that the supplies was only $400 left. (4 scores)

5. On January 2, 2011, Wesell paid $1,400 of the account payable. (2 scores)

6. On January 1, 2011, Websell paid $66,000 cash to acquire the rights to various software programs, which expected last 4 years. (4 scores)

7. On January 1, 2011, Websell paid $280,000 cash for the rights to copyrighted materials, being expected to be useful for the next 5 years. (4 scores)

8. On February 5, 2011, Websell completed a consulting engagement for the client and billed the client for $3,200. (2 scores)

9. On April 31, 2011, Websell paid developers for its web site $1,200,000 for programming and design service, which expected last 4 years. (4 scores)

10. On April 1, 2011, Websell entered into the agreement to provide internet consulting services to a major corporation. The agreement called for Websell to receive immediately $75,000. (2 scores)

11. On May 15, 2011, Websell completed the above consulting job. In addiction to earning the entire $45,000 it received in advance, Websell billed the client additional $55,000 for the job. (3 scores)

12. During the six-month period to June 30, 2011, Websell paid wages of $47,000. (2 scores)

13. Websell collected $41,000 of its accounts receivable during the six-month period to Dec 31, 2011. (2 scores)

14. Received payment of $700 000 from Bone Inc. for the sale of goods on June 8. (2 scores)

15. Paid advertisement expenses for cash $500. (4 scores)

16. Prepare closing entries (10 scores)

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会计英语试卷A

For personal use only in study and research; not for commercial use 袀试卷编号:XXXXXXXXXX ( A ) 肇江西外语外贸职业学院 螃2012年6月会计英语课程考试试卷 芅适用班级:08中招会计(1)班出卷系部:英语考试形式: 闭卷、 二、节Translate the following words into Chinese每题 1 分,共10 分) 蒈1 sole proprietorship 2 in come tax retur ns 蒄3 bala nee sheet 4 own ers'quity 羂5 debit bala nee 6 trial bala nee 莀7 inven tory 8 eash equivale nts 袇9 tan gible pla nt assets 10 reta ined earnings 芄二、Translate the following words into English每题1 分,共10 分)肃1 现金股利 2 个人所得税 葿3 残值 4 杂项费用 芆5 贷方分录 6 普通日记账 羄7 调整分录8 应收票据 膅9 合伙企业10 资产 袁三、choose the best answe每题 3 分,共45 分)

螆1 If a journal entry increases an expense account, the other part of the entry might ______ . 螅A in crease an asset acco unt B decrease the own er's equity acco unt 羂C decrease a liability acco unt D in crease a liability acco unt 罿2 Wang, Li and Lin are partners and each has a capital account of 90000yuan. Wang sells her interest to Chen for 125000yuan, the payment going to Wang personally. Chen is accepted as a partner by Li and Lin. Recording this transaction would: _______ 葿A cause no cha nge in the capital acco unts of Li and Lin 蒅B require the goodwill to be recog ni zed in the acco unts of the partn ership 羃C cause Chen to acquire a capital acco unt of 125000 Yuan. 莂D cause an in crease in the capital acco unts of Li and Lin 衿3 Which is the disadvantage of the corporation? _______ 芆A separate legal en tity B double taxati on 螁C no personal liability D professional management 蒀4. The purchase of office supplies on account will ______ 芈A. increase an asset and the owner ' s equity. 羆B. increase one asset and decrease another asset 袂C. increase an asset and liability 蕿D. increase an asset and decrease a liability 蚇5. A business has cash 40000,supplies 5000,account receivables 85000,inventory 10000 and liabilities of $60000. How much is its owner ' s equity? ________ 蚆A. $80000 B. $0 C.$20000 D.$140000 袄6. A transaction caused a $10000 decrease in both total assets and liabilities. This transaction could have been ________

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