会计专业英语 作业第二版本(1)

— 57 —Unit 5 AssetsFor the latest accounting standards in China, one important change for the definition of intangible asset is in regard to the definition of identifiability.The term “amortization” is used to describe the systematic write-off to the cost of an intangible asset over its useful life.inventory ['inv əntri] n . 存货Cash at bank 现金Bills Receivable 应收票据Accounts Receivable 应收账款Prepaid Expense 预付账款deferred assets 递延资产current assets 流动资产cash equivalents 现金等价物bad debt 坏账1. Multiple Choices(1) Which of the following is not the essential attributes of assets? ( )A. A future economic benefit is expected to provide to the entity.B. The transaction or event giving rise to the control must already have occurred.C. It has a physical form.D. It should be owned or be controlled by the entity.(2) ( ) does not belong to the current assets.A. Cash at bankB. Accounts receivableC. Motor vehiclesD. Inventory (3) Current assets are not ( ). A. cashB. expected to be converted to cash within a yearC. expected to be used up within a yearD. expected to be last beyond a year(4) Under the situation of a shortage of cash, which action should not be taken? ( )A. To overdraft loans.。

a. Cash withdrawal by owner d. Cash g. Prepaid rentb. Office equipment e. Utilities expenses h. Unearned feesc. Accounts payable f. Office supplies i. Service fees earned1-6 The following are common categories on a classified balance sheet.A. Current assets D. Intangible assetsB. Long-term investments E. Current liabilitiesC. Plant assets F. Long-term liabilitiesFor each of the following items, select the letter that identifies the balance sheet category where the item typically would appear.______ 1. Land not currently used in operations ______ 5. Accounts payable______ 2. Notes payable (due in three years) ______ 6. Store equipment______ 3. Accounts receivable ______ 7. Wages payable______ 4. Trademarks ______ 8. Cash1-7 In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classification. If the item should not appear on the balance sheet, enter a Z in the blank.A. Current assets D. Intangible assets F. Long-term liabilitiesB. Long-term investments E. Current liabilities G. EquityC. Plant assets______ 1. Long-term investment in stock ______ 12. Accumulated depreciation—Trucks ______ 2. Depreciation expense—Building ______ 13. Cash______ 3. Prepaid rent______ 4. Interest receivable ______ 14. Buildings______ 5. Taxes payable ______ 15. Store supplies______ 6. Automobiles ______ 16. Office equipment______ 7. Notes payable (due in 3 years) ______ 17. Land (used in operations)______ 8. Accounts payable ______ 18. Repairs expense______ 9. Prepaid insurance ______ 19. Office supplies______ 10. Owner, Capital ______ 20. Current portion of long-term note payable ______ 11. Unearned services revenue1-8 In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classfication. If the item should not appear on the balance sheet, enter a Z in the blank.A. Current assets E. Current liabilitiesB. Long-term investments F. Long-term liabilitiesC. Plant assets G. Equity3-2 The adjusted trial balance for Chiara Company as of December 31, 2008, follows.Debit CreditCash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 30,000Accounts receivable . . . . . . . . . . . . . . . . . . . . . . . 52,000Interest receivable . . . . . . . . . . . . . . . . . . . . . . . . 18,000Notes receivable (due in 90 days) . . . . . . . . . . . . . 168,000Office supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,000Automobiles . . . . . . . . . . . . . . . . . . . . . . . . . . . . 168,000Accumulated depreciation—Automobiles . . . . . . . $ 50,000Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 138,000Accumulated depreciation—Equipment . . . . . . . . . 18,000Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78,000Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . 96,000Interest payable . . . . . . . . . . . . . . . . . . . . . . . . . . 20,000Salaries payable . . . . . . . . . . . . . . . . . . . . . . . . . . 19,000Unearned fees . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,000Long-term notes payable . . . . . . . . . . . . . . . . . . . 138,000R.Chiara,Capital . . . . . . . . . . . . . . . . . . . . . . . . . 255,800R.Chiara,Withdrawals . . . . . . . . . . . . . . . 46,000Fees earned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 484,000Interest earned . . . . . . . . . . . . . . . . . . . . . . . . . . 24,000Depreciation expense—Automobiles . . . . . . . . . . 26,000Depreciation expense—Equipment . . . . . . . . . . . . 18,000Salaries expense . . . . . . . . . . . . . . . . . . . . . . . . . . 188,000Wages expense . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . 32,000Office supplies expense . . . . . . . . . . . . . . . . . . . . 34,000Advertising expense . . . . . . . . . . . . . . . . . . . . . . . 58,000Repairs expense—Automobiles . . . . . . . . . . . . . . 24,800Totals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,134,800 $1,134,800Required1. Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31,2008; (b) the statement of owner’s equity for the year ended December 31,2008;and (c) the balance sheet as of December 31, 2008.2. Calculate the profit margin for year 2008.3-3 On April 1, 2008, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company’s first month..April 1 Nozomi invested $30,000 cash and computer equipment worth $20,000 in the business.2 Rented furnished office space by paying $1,800 cash for the first month’s (April) rent.3 Purchased $1,000 of office supplies for cash.10 Paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins onApril 11.14 Paid $1,600 cash for two weeks’salaries earned by employees.24 Collected $8,000 cash on commissions from airlines on tickets obtained for customers.28 Paid another $1,600 cash for two weeks’salaries earned by employees.29 Paid $350 cash for minor rep airs to the company’s computer.30 Paid $750 cash for this month’s telephone bill.30 Nozomi withdrew $1,500 cash for personal use.The company’s chart of accounts follows:101 Cash 405 Commissions Earned106 Accounts Receivable 612 Depreciation Expense—Computer Equip.124 Office Supplies 622 Salaries Expense128 Prepaid Insurance 637 Insurance Expense167 Computer Equipment 640 Rent Expense168 Accumulated Depreciation—Computer Equip. 650 Office Supplies Expense209 Salaries Payable 684 Repairs Expense301 J.Nozomi,Capital 688 Telephone Expense302 J.Nozomi,Withdrawals 901 Income SummaryRequired:1. Use the balance column format to set up each ledger account listed in its chart of accounts.2. Prepare journal entries to record the transactions for April and post them to the ledger accounts. The company records prepaid and unearned items in balance sheet accounts.3. Prepare an unadjusted trial balance as of April 30.4. Use the following information to journalize and post adjusting entries for the month:a. Two-thirds of one month’s insurance coverage has expired.b. At the end of the month, $600 of office supplies are still available.c. This month’s depreciation on the computer equipment is $500.d. Employees earned $420 of unpaid and unrecorded salaries as of month-end.e. The company earned $1,750 of commissions that are not yet billed at month-end.5. Prepare the income statement and the statement of owner’s equity for the month of April a nd the balance sheet at April 30, 2008.6. Prepare journal entries to close the temporary accounts .7. Prepare a post-closing trial balance.。

会计英语第二版答案【篇一：会计英语课后题答案answer for lesson 1】r each of the following uelated items1.d2. d3. b4. d5. c6. c7.d8.a9.b10.b11c12b 13c 14d 15 a exercise answer for lesson 11.2 short-answer essay questions1.accounting cycle is an important concept for accounting. briefly explain the steps for accounting cycle.solution: (1)analyze transactions; (2) journalize transactions; (3) post to ledger;(4) prepare unadjusted trial balance ;(5) journalize post adjustments; (6) prepare adjusted trial balance;(7) prepare financial statements; (8) journalize and post closing entries; (9) prepare post-closing trial balance2 your roommate, a marketing major, thinks that debit means decrease and credit means increase. and, that every account can be debited and credited and as result, every account can have both a debit and a credit balance. explain to your roommate (1) the meaning of debit and credit; (2) which accounts can only be debited, which can only be credited, and which can be both debited and credited; and (3) which accounts normally have debit balances and which credit balances.solution: the terms debit and credit mean the left and right side, respectively, of every account. some accounts such as dividends and expenses are only debited; other accounts such as share capital-ordinary and revenues are only credited; and finally, some accounts such as cash, accounts receivable, and accounts payable can be debited and credited. accounts with debit balances include assets, dividends, and expenses. accounts with credit balances include share capital-ordinary and revenues.3 a fellow classmate is confused about how debits andcredits relate to the basic accounting equation. state the basic accounting equation, convert it into the expanded accounting equation, and then explain how it ties into the rules for debits and credits.solution:the basic accounting equation is:assets = liabilities + equitythe expanded equation divides equity into its various parts, reflecting the shareholders investment, dividends, revenues, and expenses:assets = liabilities + share capital-ordinary + retained earnings – dividends + revenues – expensesthis expanded equation can then be re-arranged to explain why certain accounts have debit (left-hand) balances, while other accounts have credit (right-hand) balances, as follows:assets + dividends + expenses = liabilities + share capital-ordinary + retained earnings + revenuesthe accounts on the left-hand side of the equation have left-hand, or debit balances, while the accounts on theright-hand side of the equation have right-hand, or credit balances. accounts with debit balances are increased with debits and decreased with credits, while accounts with credit balances are increased with credits and decreased with debits.4 john dough, a fellow employee, wants to understand the basic steps in the recording process. identify and briefly explain the steps in the order in which they occur.solutionthe basic steps in the recording process are:1. analyze each transaction. in this step, business documents are examined to determine the effects of the transactionon the accounts.2. enter each transaction in a journal. this step is called journalizing and it results in making a chronological record of the transactions.3. transfer journal information to ledger accounts. this step is called posting. posting makes it possible to accumulatethe effects of journalized transactions on individual accounts.5 the process of transferring the information in the journal to the general ledger is called posting. explain the posting process, including the importance of the journal page number and the account numbers.solutionthe posting process begins with locating the account(s) being debited in the general ledger. then entering the date of the entry, the journal page number where the entry originated and debit portion of the entry in the date, reference and debitcolumns, respectively. once this done, the account number(s) of the account(s) being debited is (are) entered in the reference column in the journal. next, the credit portion of the journal entry is posted to the appropriate accounts in the ledger following the same steps as noted for the debit portion.the importance of the journal page number, in the reference column of each account in the general ledger accounts, is to indicate where to find the original entry. and, the generalledger account numbers, in the reference column of the journal, indicate that the entry has been posted.1.3 the effects of transactions on the accounting equationlinda champion began a professional accounting practice on may 1 and plans to prepare financial statements at the end of each month. during may, champion completed these transactions:。

— 84 —会计专业英语（第2版）buildings for example, are measured at their historical cost rather than their market values. These contradict reliability.A balance sheet usually doesn’t show the cost/value of intangibles such as people, patents, ideas, culture, market share, etc. That may be an “asset” to a corporation and sometimes even its most vital asset. For example, many company resources including its trained employees, its experienced management team, and its reputation are not recorded as assets at all.In summary, even though the balance sheet does not directly measure the market value of the entity, it provides valuable information that can be used to help judge market value.9.2.1 The Function of an Income StatementAn income statement is a financial statement that shows the amount of income earned by a business over a period of time. It is a principal financial statement providing a measure of appraising the operating performance of a firm for some particular period of time. The income statement is a changing financial statement. It reports the changes in shareholders’ equity (retained earnings) that occurred during the reporting period as a result of operation transactions (revenues, expenses, gains and losses).an income statement helps users of financial statements predict future cash flows in a number of ways. For example, investors and creditors can use the information in the income statements to do lots of things.① It helps evaluate the past performance of the company. By examining revenues and expenses, people can tell how the company is performed and compare its performance to its competitors.② It provides a basis for predicting future performance. Information about past performance can be used to determine important trends that, if continued, provide information about future performance. Although success in the past does not necessarily mean that the company will be successful in the future, predictions of future revenues, earnings and cash flows, can be made with some confidence if a reasonable correlation exists between past and future performance.③ It helps assess the risk or uncertainty of achieving future cash flows. Information on the various components of income—revenues, expenses, gains, and losses—highlights the relations among them and can be used assess the risk of achieving a particular level of cash flows in the future.9.2.2 A Single-step Income StatementThe single-step form of income statement takes its name from the fact that all costs and expenses。

地大《会计专业英语》在线作业二一、判断题（共 25 道试题，共 100 分。

）1. 下列英汉互译是否正确“制造费用”-----“ ftory ovrh ”. 错误. 正确正确答案：2. 下列英汉互译是否正确“相关性”---“rliility ”. 错误. 正确正确答案：3. 下列英汉互译是否正确“ounts rivl ”-----“应付帐款”. 错误. 正确正确答案：4. “ivin yil rt ”应译为“股利支付率”. 错误. 正确正确答案：5. 下列英汉互译是否正确“ rtio ”-----“比率”. 错误. 正确正确答案：6. 下列英汉互译是否正确“Mngmnt ounting, whih sks to mt th ns of mngrs.”-----“财务会计，旨于满足所有其他使用者的会计需要。

”. 错误. 正确正确答案：7. 下列英汉互译是否正确“期间费用”-----“prio xpns ”. 错误. 正确正确答案：8. 下列英汉互译是否正确“ommon-siz inom sttmnt ”-----“共同比利润表”. 错误. 正确正确答案：9. 下列英汉互译是否正确“Ptnts n trmrks”-----“应收帐款”. 错误. 正确正确答案：10. 下列英汉互译是否正确“共同固定成本”-----“ ommon fix ost ”. 错误. 正确正确答案：11. 下列英汉互译是否正确“经营活动”-----“ oprting tivitis ”. 错误. 正确正确答案：12. 下列英汉互译是否正确“Th ounting yl”-----“会计循环”. 错误. 正确正确答案：13. 下列英汉互译是否正确“sol propritor usinss ”-----“合伙企业”. 错误. 正确正确答案：14. “urrnt rtio”应译为“流动比率”. 错误. 正确正确答案：15. 下列英汉互译是否正确“成本动因”-----“ ost rivr ”. 错误. 正确正确答案：16. 下列英汉互译是否正确“公认会计原则及其相关机构”-----“ Gnrlly pt ounting Prinipl n Orgniztion onrn with GP ”. 错误. 正确正确答案：17. 下列英汉互译是否正确“无形资产”-----“ intngil ssts ”. 错误. 正确正确答案：18. “mngmnt prformn”应译为“管理业绩”. 错误. 正确正确答案：19. 下列英汉互译是否正确“资产负债率”-----“ ts to totl ssts rtio ”. 错误. 正确正确答案：20. 下列英汉互译是否正确“在成品存货”-----“finish goos invntory ”. 错误. 正确正确答案：21. 下列英汉互译是否正确“ orinry shrholr/ ommon stokholr ”-----“普通股股东”. 错误. 正确正确答案：22. 下列英汉互译是否正确“财务报表”-----“ finnil sttmnt ”. 错误. 正确正确答案：23. 下列英汉互译是否正确“固定成本”-----“ vril ost ”. 错误. 正确正确答案：24. 下列英汉互译是否正确“ost of sls/ost of goos sol ”-----“销售成本”. 错误. 正确正确答案：25. 下列英汉互译是否正确“ mrgin of sfty ”-----“安全边际”. 错误. 正确正确答案：。

会计英语第一章Exercises1-1The following selected transactions were completed by Castle Delivery Service during November:(1)Received cash from owner as investment ,$2,000.(2)Paid advertising expense ,$500.(3)Purchased supplies of gas and oil for cash , $750.(4)Received cash from cash customers $2,500.(5)Paid creditors on account $480.(6)Paid cash to owner for personal use ,$600.Indicate the effect of each transactions on the accounting equation by a check mark listing theTranslation:1-1下列交易事项挑选自Castle Delivery Service公司十一月份的交易：（1）收到投资者现在投资2000美元（2）支付广告费500美元（3）现在购买汽和油，750美元（4）从购买者收到现金收入2500美元（5）偿还债权人借款480美元（6）支付现金给所有者作为个人用途600美元1-2Foreman Corporation, engaged in a service business , completed the following selected transactions during the period:1)Added additional investment, receiving cash2)Purchased supplies on account3)Returned defective supplies purchased on account and not yet paid for4)Received cash as a refund from the erroneous overpayment of an expense5)Charged customers for services sold on account6)Paid salary expense7)Paid a creditor on account8)Received cash on account from charge customer9)Paid cash for the owner’s personal use10)Determined the amount of supplies used during the monthTranslation :Foreman是一家从事服务行业的公司，以下是该公司在一段时间内的交易事项。

a. Cash withdrawal by owner d. Cash g. Prepaid rentb. Office equipment e. Utilities expenses h. Unearned feesc. Accounts payable f. Office supplies i. Service fees earned1-6 The following are common categories on a classified balance sheet.A. Current assets D. Intangible assetsB. Long-term investments E. Current liabilitiesC. Plant assets F. Long-term liabilitiesFor each of the following items, select the letter that identifies the balance sheet category where the item typically would appear.______ 1. Land not currently used in operations ______ 5. Accounts payable______ 2. Notes payable (due in three years) ______ 6. Store equipment______ 3. Accounts receivable ______ 7. Wages payable______ 4. Trademarks ______ 8. Cash1-7 In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classification. If the item should not appear on the balance sheet, enter a Z in the blank.A. Current assets D. Intangible assets F. Long-term liabilitiesB. Long-term investments E. Current liabilities G. EquityC. Plant assets______ 1. Long-term investment in stock ______ 12. Accumulated depreciation—Trucks ______ 2. Depreciation expense—Building ______ 13. Cash______ 3. Prepaid rent______ 4. Interest receivable ______ 14. Buildings______ 5. Taxes payable ______ 15. Store supplies______ 6. Automobiles ______ 16. Office equipment______ 7. Notes payable (due in 3 years) ______ 17. Land (used in operations)______ 8. Accounts payable ______ 18. Repairs expense______ 9. Prepaid insurance ______ 19. Office supplies______ 10. Owner, Capital ______ 20. Current portion of long-term note payable ______ 11. Unearned services revenue1-8 In the blank space beside each numbered balance sheet item, enter the letter of its balance sheet classfication. If the item should not appear on the balance sheet, enter a Z in the blank.A. Current assets E. Current liabilitiesB. Long-term investments F. Long-term liabilitiesC. Plant assets G. Equity3-2 The adjusted trial balance for Chiara Company as of December 31, 2008, follows.Debit CreditCash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 30,000Accounts receivable . . . . . . . . . . . . . . . . . . . . . . . 52,000Interest receivable . . . . . . . . . . . . . . . . . . . . . . . . 18,000Notes receivable (due in 90 days) . . . . . . . . . . . . . 168,000Office supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,000Automobiles . . . . . . . . . . . . . . . . . . . . . . . . . . . . 168,000Accumulated depreciation—Automobiles . . . . . . . $ 50,000Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 138,000Accumulated depreciation—Equipment . . . . . . . . . 18,000Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78,000Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . 96,000Interest payable . . . . . . . . . . . . . . . . . . . . . . . . . . 20,000Salaries payable . . . . . . . . . . . . . . . . . . . . . . . . . . 19,000Unearned fees . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,000Long-term notes payable . . . . . . . . . . . . . . . . . . . 138,000R.Chiara,Capital . . . . . . . . . . . . . . . . . . . . . . . . . 255,800R.Chiara,Withdrawals . . . . . . . . . . . . . . . 46,000Fees earned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 484,000Interest earned . . . . . . . . . . . . . . . . . . . . . . . . . . 24,000Depreciation expense—Automobiles . . . . . . . . . . 26,000Depreciation expense—Equipment . . . . . . . . . . . . 18,000Salaries expense . . . . . . . . . . . . . . . . . . . . . . . . . . 188,000Wages expense . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . 32,000Office supplies expense . . . . . . . . . . . . . . . . . . . . 34,000Advertising expense . . . . . . . . . . . . . . . . . . . . . . . 58,000Repairs expense—Automobiles . . . . . . . . . . . . . . 24,800Totals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,134,800 $1,134,800Required1. Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31,2008; (b) the statement of owner’s equity for the year ended December 31,2008;and (c) the balance sheet as of December 31, 2008.2. Calculate the profit margin for year 2008.3-3 On April 1, 2008, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company’s first month..April 1 Nozomi invested $30,000 cash and computer equipment worth $20,000 in the business.2 Rented furnish ed office space by paying $1,800 cash for the first month’s (April) rent.3 Purchased $1,000 of office supplies for cash.10 Paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins onApril 11.14 Paid $1,600 cash for two weeks’sal aries earned by employees.24 Collected $8,000 cash on commissions from airlines on tickets obtained for customers.28 Paid another $1,600 cash for two weeks’salaries earned by employees.29 Paid $350 cash for minor repairs to the company’s computer.30 Pa id $750 cash for this month’s telephone bill.30 Nozomi withdrew $1,500 cash for personal use.The company’s chart of accounts follows:101 Cash 405 Commissions Earned106 Accounts Receivable 612 Depreciation Expense—Computer Equip.124 Office Supplies 622 Salaries Expense128 Prepaid Insurance 637 Insurance Expense167 Computer Equipment 640 Rent Expense168 Accumulated Depreciation—Computer Equip. 650 Office Supplies Expense209 Salaries Payable 684 Repairs Expense301 J.Nozomi,Capital 688 Telephone Expense302 J.Nozomi,Withdrawals 901 Income SummaryRequired:1. Use the balance column format to set up each ledger account listed in its chart of accounts.2. Prepare journal entries to record the transactions for April and post them to the ledger accounts. The company records prepaid and unearned items in balance sheet accounts.3. Prepare an unadjusted trial balance as of April 30.4. Use the following information to journalize and post adjusting entries for the month:a. Two-thirds of one month’s insurance coverage has expired.b. At the end of the month, $600 of office supplies are still available.c. This month’s depreciation on the computer equipment is $500.d. Employees earned $420 of unpaid and unrecorded salaries as of month-end.e. The company earned $1,750 of commissions that are not yet billed at month-end.5. Prepare the income statement and the statement of owner’s equity for the month of April and the balance sheet at April 30, 2008.6. Prepare journal entries to close the temporary accounts .7. Prepare a post-closing trial balance.。

— 19 —Unit 4 Accounting CycleIn practice, the book recording of transactions is at first called journal. A journal is a chronological record of an entity’s transactions. In this section, we will describe the recording process and illustrate how to use a journal and a ledger. The recording process follows five steps: (1) Identify the transactions from source documents; (2) Specify each account affected by the transaction and classify it by type; (3) Determine whether each account is increased or decreased by the transaction; (4) Use the rules of debit and credit and determine whether to debit or credit the account; (5) Enter the transaction in the journal, including a brief explanation for the journal entry.4.2.1 JournalIn accounting system, the information about each business transaction is initially recorded in an accounting book called Journal. Afterward, the data is transferred or posted to the ledger, the book for subsequent or secondary entry. The various transactions are evidenced by sales receipts, purchase invoices, check stubs, and so on. Since the journal is the accounting book in which transactions are first recorded, it is sometimes called the book of original entry. It is also called the day book because the journal is a chronological (day-by-day) record of all business transactions.The information about each transaction that should be recorded includes the date of the transaction, the debit and credit figures in specific ledger accounts, and a brief explanation of the transaction. At convenient intervals, the debit and credit amounts recorded in journal are transferred to the accounts in the ledger. The process of recording a transaction in a journal is called journalizing, and transferring information from a journal to a ledger is called posting. The updated ledger accounts, in turn, serve as the basis for preparing a balance sheet and other financial statements.4.2.2 Types of JournalOn functional basis, there are two types of journal: general journal and special journal. The general journal is relatively simple recording in which any type of business transactions can be recorded. In contrast to the general journal, the special journal is designed to record a specific type of frequently occurring business transaction.1. General JournalGeneral journal has only two amount columns, one for debits and the other for credits; it may beused for all the types of transactions. To illustrate journalizing, we present the standard form of general。

会计英语作业2Exercise 1: On June 30, 20x2,M Company issued $ 4 000 000 face value of 10%, 10-year bonds at $3 541 203, a yield of 12%. M uses the effective interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31.Required:a. a.Prepare the journal entries to record the following transactions:1. 1.The issuance of the bonds on June 30,20x2.2. 2.The payment of interest and the amortization of the discount on December 31,20x2.3. 3.The payment on interest and the amortization of the discount on June 30, 20x3.4. 4.The payment on interest and the amortization of the discount on December 31,20x3.b. b.Show the proper balance sheet presentation for the liability for bonds payable on theDecember 31, 20x3, balance sheet.c. c.Provide the answers to the following questions:1. 1.What amount of interest expense is reported for 20x2?2. 2.Will the bond interest expense reported in 20x2 be the same as, greater than ,orless than the amount that would be reported if the straight-line method of amortization were used?3. 3.Determine the total cost of borrowing over the life of the bond.4. 4.Will the total bond interest expense for the life of the bond be greater than, thesame as, or less than the total interest expense if the straight-line method of amortization were used?Exercise 2: The stockholders’equity accounts of the H Company at January 1, 20x4, are as follows:Common Stock, $ 5 par $ 1 000 000Preferred Stock, $ 100 par, 10% 500 000Paid-in Capital in Excess of Par Value of Common Stock 200 000Paid-in Capital in Excess of Par Value of Preferred Stock 200 000Retained Earnings 500 000During 20x4, the company had the following transactions and events:.July.1 Declared an 10% cash dividend on preferred stock.Aug.1 Discovered a $ 12 000 overstatement of 20x3 depreciation. Ignore income taxes. Sept. 1 Paid the cash dividend declared on July 1 to preferred stockholders.Dec. 1 Declared 10% stock dividend on common stock when the market value of the stock was $ 10 per share.Dec. 31 Determined that net income for the year was $ 450 000.(Prepare the closing entry) Required:a. a.Journalized the transactions and events.b. b.Prepare a retained earnings statement for the year.c. c.Prepare a stockholders’ equity section at December 31, 20x4.。

会计英语作业⼆对外经济贸易⼤学继续教育学院夜⼤部2012---2013学年度第⼀学期2011级会计专升本《会计专业英语》作业⼆务必把答案写在答题纸上,写在卷纸上⽆效I．Match the terms in Column A with the definitions in Column B. (5%)A.（）1. revenues（）2. Sales Returns and Allowances（）3. expenses（）4. net income（）5. GainsB.A. periodic change in owner’s equity or net assets of an entity as a resultof transactions and other economic events that result in revenues, expenses, gains and lossesB. increases in owner’s equity or net assets that result from peripheralor incidental transactions by an entityC. inflows or other enhancements of assets of an entity or settlements of its liabilitiesD. outflows or other using up of assets or increase of liabilitiesE. a contra revenue account to SalesII. Complete the following sentences with the appropriate phrases given below.(10%)1. is revenues that have been collected but not earned, aliability until the goods or services are provided.2. are potential liabilities arising from a past transaction anddependent on a future event.3. are a distribution of earnings by a corporation.4. When bonds are sold at a or, the result is anadjustment of the interest rate in the bonds from the face rate to an effective rate that is close to the market rate when the bonds were issued.5. A is a legal obligation requiring the future payment of anasset, the performance of a service.III. Decide whether the following statements are true or false. Write T for true and F for false. (20%)( )1. Interest of 5% on 700 yuan for 90 days would be computed as follows:0.05*700*90/360.( )2. A note dated December 14 and due February 14 has a duration of60 days.( )3. Allowance for bad debts is a contra account to account payable.( )4. Loans to offices of the company should be included in short-term loans on the balance sheet.( )5. In China, bonds can be issued at a par.( )6. An expense always causes an increase in owner’s equity.( )7. Expenses are sometimes described as “entity efforts” or “entity sacrifices” associated with the earning of revenue. ( )8. Gains arise from transactions and economic events that result in either revenues or owner investment( )9. To determine profit (a net amount) from sales, it is necessary to subtract cost of goods sold from sales revenue. ( )10. As in current practice, the term earnings sometimes will be used as a synonym for gross income, or as a way of capturing theelements (i.e., revenues, expenses, gains and losses) that makeup income.IV. Choose the best answer. (20%)() 1.CanTex had $54 in missing petty cash receipts. What is the correct treatment?A. Debit Cash Over and Short for $54.B. Credit Cash Over and Short for $54.C. Debit Petty Cash for $54.D. Credit Petty Cash for $54.( ) 2.Zimbooru Company had $12 in extra cash at the end of the day. What is the correct treatment?A. Credit Cash for $12.B. Debit Cash for $12.C. Credit Cash Over and Short for $12.D. Debit Cash Over and Short for $12.() 3.The custodian of a $500 petty cash fund has $62.50 in coins and currency plus $432.50 in receipts at the end of the month. What will the entry to replenish the petty cash fund include?A. A debit to Miscellaneous Expenses for $427.50.B. A credit to Cash Over and Short for $5.00.C. A credit to Cash for $432.50.D. A credit to Cash for $437.50.( ) 4.EpsCo plans to eliminate a $200 petty cash fund. The current balance in the account includes $45 in receipts and $165 in currency. What will the entry to eliminate the fund include?A. Debit to Cash Short and Over for $10.B. Debit to Cash for $165.C. Debit to Miscellaneous Expenses for $35.D. Credit to Petty Cash for $165.( ) 5.For what reason might a bank issue a debit memorandum?A. To notify a depositor of all increases to the depositor’s account.B. To notify a depositor of a deduction to a depositor’s account.C. To notify a depositor of an electronic funds transfer into their account.D. To notify a depositor of an error in the depositor’s accounting records.() 6.The rate of interest actually earned by bondholders is called the ______.A. coupon rateB. effective yieldC. nominal rateD. stated rate( ) 7.Bonds will sell t a premium when theA. stated rate is higher than the nominal rateB. stated rate is higher than the coupon rateC. effective yield is lower than the market rateD. effective yield is lower than the stated rate( ) 8.Typical liability accounts include:A.accounts payable, bank loan, wages payable, drawingsB.accounts payable, bank overdraft, wages payable, stationeryC.accounts receivable, bank overdraft, wages payable, unearned revenueD.accounts payable, borrowing from the public, bank overdraft, wages payable ( ) 9.Which of the following usually is not a current liability?A.Withheld Income TaxesB. Deposits Received from CustomersC.Deferred Tax PayableD. All of these.( ) 10.After bonds have been issued, their market value can be expected to _____.A.rise as any premium is amortizedB.fall if interest rates riseC.fall as any discount is amortizedD.rise if interest rates riseV. Translate the following into English.(30%)1. 引起所有者权益发⽣变化的主要有四种经济活动：投资、提款、收益和费⽤。

会计英语第二版答案【篇一：会计英语课后题答案answer for lesson 1】r each of the following uelated items11c12b 13c 14d 15 a exercise answer for lesson 11.2 short-answer essay questions1.accounting cycle is an important concept for accounting.briefly explain the steps for accounting cycle.solution: (1)analyze transactions; (2) journalize transactions;(3)post to ledger;(4) prepare unadjusted trial balance ;(5)journalize post adjustments; (6) prepare adjusted trial balance;(7)prepare financial statements; (8) journalize and post closing entries; (9) prepare post-closing trial balance2 your roommate, a marketing major, thinks that debitmeans decrease and credit means increase. and, that every account can be debited and credited and as result, everyaccount can have both a debit and a credit balance. explain toyour roommate (1) the meaning of debit and credit; (2) which accounts can only be debited, which can only be credited,and which can be both debited and credited; and (3) which accounts normally have debit balances and which creditbalances.solution: the terms debit and credit mean the left and rightside, respectively, of every account. some accounts such as dividends and expenses are only debited; other accounts suchas share capital-ordinary and revenues are only credited; and finally, some accounts such as cash, accounts receivable, and accounts payable can be debited and credited. accounts withdebit balances include assets, dividends, and expenses.accounts with credit balances include share capital-ordinaryand revenues.3 a fellow classmate is confused about how debits andcredits relate to the basic accounting equation. state the basic accounting equation, convert it into the expanded accounting equation, and then explain how it ties into the rules for debitsand credits.solution:the basic accounting equation is:assets = liabilities + equitythe expanded equation divides equity into its various parts, reflecting the shareholders investment, dividends, revenues, and expenses:assets = liabilities + share capital-ordinary + retained earnings –dividends + revenues–expensesthis expanded equation can then be re-arranged to explain why certain accounts have debit (left-hand) balances, while other accounts have credit (right-hand) balances, as follows: assets + dividends + expenses = liabilities + share capital-ordinary + retained earnings + revenuesthe accounts on the left-hand side of the equation have left-hand, or debit balances, while the accounts on the right-hand side of the equation have right-hand, or credit balances. accounts with debit balances are increased with debits and decreased with credits, while accounts with credit balances are increased with credits and decreased with debits.4 john dough, a fellow employee, wants to understand the basic steps in the recording process. identify and briefly explain the steps in the order in which they occur. solutionthe basic steps in the recording process are:1.analyze each transaction. in this step, business documents are examined to determine the effects of the transactionon the accounts.2.enter each transaction in a journal. this step is called journalizing and it results in making a chronological recordof the transactions.3.transfer journal information to ledger accounts. this stepis called posting. posting makes it possible to accumulatethe effects of journalized transactions on individual accounts. 5the process of transferring the information in the journal to the general ledger is called posting. explain the posting process, including the importance of the journal page number and the account numbers.solutionthe posting process begins with locating the account(s) being debited in the general ledger. then entering the date of the entry, the journal page number where the entry originated and debit portion of the entry in the date, reference and debitcolumns, respectively. once this done, the account number(s) of the account(s) being debited is (are) entered in the reference column in the journal. next, the credit portion of the journal entry is posted to the appropriate accounts in the ledger following the same steps as noted for the debit portion.the importance of the journal page number, in the reference column of each account in the general ledger accounts, is to indicate where to find the original entry. and, the general ledger account numbers, in the reference column of the journal, indicate that the entry has been posted.1.3 the effects of transactions on the accounting equation linda champion began a professional accounting practice on may 1 and plans to prepare financial statements at the end of each month. during may, champion completed these transactions:。

会计英文选择题1-6会计英文第二版复旦大学出版社的课后选择题第一章1.What is the term used to describe the difference betweena company’s assets and its liabilities, also referred to as the residual interest in the assets of an entity that remains after deducting its liabilities? ( C )a. Net income.b. Shares. C.Ow ner’s Equity. D.Revenue.2.Which financial statement shows whether the business earned a profit and also lists the types and amounts of the revenues and expenses? ( D )A . Balance sheet. B. Statement of owner’s equity. C. Cash flow statement. D. Inco me statement.3.Which of the following is another term for ownet’s equity? ( C )a. Net income.b. Expenses. /doc/e4b6433acaaedd3383c4d38c.html assets .d. Revenues.4. Which of the following is true of the accounting entity principle? ( C )a. Requires that sole proprietors have unlimited liability.b.Requires that partnership income be taxed at the partnership level.c.Means that business records should be kept separately from the owner’s financial records.d.Requires that partnerships have written agreements.5.Which is the accounting guideline that requires financialstatement information to be supported by evidence other than someone’s imagi nation or opinion? ( D )a. Accounting entity principle. B. Monetary unit principle. C. Going-concern principle. D. Objectivity principle.6.If a business is not being sold or closed, the amounts reported in the accounts for assets used in operations are based on costs. This practice is justified by which principle? ( A )a. Cost principle. B. Accounting entity principle. C. Objectivity principle. D. Monetary unit principle.7.If the liabilities of a business increased $12000 during a period of time and owner’s equity in the business decreased $2000 during the same period, the assets of the business must have increased or decreased by how much? ( C )a. Decreased $10000.b.Decresed $14000.c.Increased $10000. d .Increased $14000.8. A purchase of office equipment for cash of $130 was recorded as an addition to Offic equipment and an addition to Liabilities. By what amounts are the accounts under- or overstated as a result of th is error?(“Understated” means too low, and “overstated” means too high.) ( D )a. Assets , understated $130; Liabilities, overstated $130.b. Office equipment, understated $260; Liabilities, overstated $130.c. Office equipment , overstated $130; Liabilities, overstated $130.d. Assets, overstated $130; Liabilities, overstated $130.9.What is the area of accounting that prepares information primarily for external decision makers called? ( A )a. Financial accounting. B. Managerial accounting. C.Auditing. D. Budgeting.10. The following transactions occurred during July:----Received $700 cash for photography services provided to customer during the month----Received $1500 cash from Barbara Jones, the owner of the business----Received $800 from a customer in partial payment of his account receivable which arose as a result of sales during June ----Rendered photography services to a customer on credit ,$500----Borrowed $2500 from the bank----Received $1000 from a customer in payment for services to be performed next yearWhat was the amount of revenue for July? ( A )a. $ 1200b. $ 3000c. $ 5500d. $7000第二章1. How do we record an asset created by a payment for economic benefits that does not expire until some later time ? ( B )a. Recorede as a debit to an unearned revenue account.b. Recorded as a debit to a prepaid expense account.c. Recorded as a credit to an unearned revenue account.d. Recorded as a credit to a prepaid expense account.2. How do we record a liability created by the receipt of cash from customers in payment for products or services that have not yet been delivered to the customers? ( C )a. Recorede as a debit to an unearned revenue account.b. Recorded as a debit to a prepaid expense account.c. Recorded as a credit to an unearned revenue account.d. Recorded as a credit to a prepaid expense account.3. During the month of February , Hal Company had cash receipts of $6500 and cash disbursements of $8000.The February 28 cash blance was $4300. What was the beginning ( February 1 ) cash balance? ( C )a. $1500.b. $2800. c . $5800. d. $73004. Aimes opened a new bunsiness by investing the following assets : cash , $ 4000; land, $20000; building, $80000. Also, the business will assume responsibility for a note payable of $32000. Aimes signed the note as part of his payment for the land and building. Which journal entry should be used on the books of the new business to record the investment by Aimes? ( D )A. Assets (10400)Aimes, capital (10400)B. Assets (104000)Liability (32000)Aimes, capital (72000)C. Cash (4000)Land (20000)Building (80000)Aimes, capital (104000)D. Cash (4000)Land (20000)Building (80000)Note payable (32000)Aimes,capital (72000)5. Of the following independent errors, which one by itselfwill cause the trial balance to be out of balance ? ( B )a. A $200 salary payment posted as a $200 debit to Cash anda $200 credit to Salaries expense.b. A $100 receipt from a customer in payment of his account posted as a $100 debit to Cash and a $10 credit to Accounts receivable.c. A $75 receipt from a customer in payment of his account posted as a $75 debit to Cash and a $75 credit to Cash.d. A $50 cash purchase of office supplies posted as a $50 debit to Office equipment and a $50 credit to Cash.6. What is the correct description of a general ledger? ( A )a. A book of final entry.b . A journal in which transactions are first recorded.c. A book in which a complete record of transactions is firstrecorded and from which transaction amounts are posted to the accounts.d. A cocument containing detailed descriptions of all transactions.7. On September 30, Account payable had a normal balance of $2300. During September the account was credited for a total of $5400 and debited for a total of $3900. What was the balance in the Accounts payable at the beginning of September? ( C )a. A $-0- balance. b . An $800 debit balance. c . An $800 credit balance. d . A $3800 debit balance.8. Which of the following is a credit ? ( A )a. A decrease in an expense account.b . An increase in an asset account.c . A decrease in an unearned revenues account.d . A decrease in a liability account.9. Which column in journals and accounts is used to cross-reference journal and ledger entries? ( C )a. Account balance. b . Debit. c . Post Ref . d . Credit.10. On April 30, Hal Company had an Accounts Receivable balance of $37000.During the month of May , total credits to Accounts Receivable were $24000, which resulted from customer payments . The May 31 Accounts Receivable balance was $32000. What was the amount of credit sales during May ? ( A )a . $19000.b . $29000.c . $45000.d . $56000.第三章1. If an accountant forgot to record Depreciation on office equipment at the end of an accounting period, which of the following would be true regarding the statements prepared at that time ? ( D )a.The assets are overstated and owner’s equity is understated.b.The assets and owner’s equity are both understated.c.The assets are overstated ,net income is understated, and owner’s equity is overstated.d.The assets , net income and owner’s equity are overstated.2.The Crimson Cartage Company purchased a new truck at a cost of $42000 on July 1,2001.The truck is estimated to have a useful life of 6 years and a salvage value of $6000. How much Depreciation expense will be recorded for the truck during the year ended December 31, 2001 assuming the straight –linemethod? ( A )a. $2700b. $2900c. $3300d. $35003.The Office Supplies account shows a beginning balance of $600 and an ending balance of $400. If office supplies expense for the year is $3100, what amount of office supplies was purchased during the period? ( B )a. $2700b. $2900c. $3300d. $35004. If accrued salaries were recorded on December 31 with a credit to Salaries Payable, what would the entry to record payment of these wages on January 5 include? ( C )a. A debit to Cash and a credit to Salaries Payable.b. A debit to Cash and a credit to Prepaid Salaries.c. A debit to Salaries Payable and a credit to Cash.d. A debit to Salaries Payable and a credit to Salaries Expense.5. HCF , a finance company , lends Able Business $2400 at 5% for 3 months on December 1 , 2001. What should HCF’s adjusting entry on December 31 , 2001 include? ( C )a. A debit to Interest Earned for $10.b. A credit to Interest Receivable for $10.c. A credit to Interest Earned for $10.d. A debit to Cash for $10.6.Josh’s Computer Business owns computer equipment that cost $6000 when it was purchased three years ago. Itscurrent book value is $2400. what is the Depreciation expense per year using straight-line Depreciation? ( D )a. $800b. $1000c. $1100d. $12007. Which of the following describes the current ratio? ( B )a. Is current assets divided by total liabilities.b. Helps to assess a company’s ability to pay its debts in the near future.c. Reveals that the business has a very good cash flow position if it is less than 1.d. Is current liabilities divided by current assets.8.On the work sheet, the income statement debit column shows a total of $56500. The income statement credit column total is $52500 . What is the net income or net loss ? ( D )a. The net income of this business is $4000.b. The net income of this business is $5000.c. The net loss of this business is $3000.d. The net loss of this business is $4000.9. The Jon Godfrey, Capital account has a debit balance of $1200 before closing entries are made. If total revenues for the year are $55200 , total expenses $39800, and withdrawals are $9000 , what is the ending balance in the Jon Godfrey, Capital account after all closing entries have been made? ( A )a. $5200b. $7600c. $14200d. $1660010. An error is indicated if the following account has abalance appearing on the post-closing trial balance: ( C )a. Office Equipment.b. Accumulated Depreciation, Office Equipment.c. Depreciation Expense, Office Equipment.d. Ted Nash , Capital.第四章1.Wallaby Company had net sales of $69400 and cost of goods sold of $360880 . What is the gross margin ratio? ( C )a. 0.48%b. 192%c. 48%d. 52%2.Which of the following is an explanation of cost of goods sold? ( B )a. Cost of goods sold is another term for sales.b. Cost of goods sold is the term used for the cost of buying and preparing merchandise.c. Cost of goods sold is an operating expense.d. Cost of goods sold is also called gross margin.3. Which of the following is a characteristic of merchandise inventory? ( D )a. Is a long-term asset.b. Can include supplies.c. Is an invested asset. d . Is a current asset.4. Which phrase best describes a perpetual system? ( A )a. Gives a continual record of the amount of inventory on hand .b. Uses a purchases account for the cost of new purchases.c. Was historically used by companies that sold large quantities of low-balance items.d. Eliminates the need for a physical inventory count.5. Which one of the following qualities is related to a periodic inventory system? ( C )a. Gives more timely information.b. Is widely used in practice.c. Was historically usded by companies that sold large volumes of small, low-cost items.d. Provides point of sale data.6. Z-Mart recorded the following journal entry : ( C )Accounts Payable (2500)Merchandise Inventory (50)Cash (2450)What is this transaction?a. A return.b. A return and payment of the account payable.c. A payment of the account payable and recognition of a cash discount taken.d. A purchase and recognition of a cash discount taken.7.What transaction causes a debit to Sales returns and allowances and a credit to Accounts receivable? ( C )a. There is no such entry ; it should be a credit to Sales returns and allowances and a debit to Accounts receivable.b. This transaction is recorded by the purchaser and recognizes the return of merchandise.c. When a customer returns merchandise to the seller, this entry is recorded by the seller.d. There is no such entry; it should be a debit to Sales returns and allowances and a credit to Accounts payable.8.During the closing process, all temporary debit and creditbalance accounts are closed. Which of the following accounts would be closed with a debit? ( C )a. Sales Discounts. B. Cost of Goods Sold. c . Sales. D. Accumulated Deprciation.9. In a periodic system, the cost of merchandise inventory is determined by what? ( A )a. The cost of merchandise on hand is determined by relating the quantities on hand (as determined by a physical count) to records showing each item’s original cost.b. Recording the cost of new merchandise in the purchases account.c. Reconciling the accounts for shrinkage.d. By maintaining up-to-date records.10. Aldrige Company purchased $1800 of merchandise on December 5, terms 2/10, n/15. On December 7.$200 worth of merchandise was returned by Aldrige to the supplier.On December 15, Aldrige paid the balance in full. What was the amount of the cheque? ( B )a. $200.b. $1568.c. $1600.d. $1800.第五章1. CanTex had $54 in missing petty cash receipts. What is the correct treatment? ( A )a. Debit Cash Over and Short for $54.b. Credit Cash Over and Short for $54.c. Debit Petty Cash for $54.d. Credit Petty Cash for $54.2. Zimbooru Company had $12 in extra cash at the end ofthe day . What is the correct treatment? ( C )a. Credit Cash for $12.b. Debit Cash for $12c. Credit Cash Over and Short for $12.d. Debit Cash Over and Short for $12.3.The custodian of a $500 petty cash fund has $62.50 in coins and currency plus $432.50 in receipts at the end of thd month. What will the entry to replenish the petty cash fund include? ( D)a. A debit to Miscellaneous Expenses for $427.50.b. A credit to Cash Over and Short for $5.00.c. A credit to Cash for $432.50.d .A credit to Cash for $437.50.4. EpsCo plans to eliminate a $200 petty cash fund . The current balance in the account includes$45 inreceipts and $165 incurrency .What will the entry to eliminate the fund include? ( B )a. Debit to Cash Short and Over for $10. b . Debit to Cash for $165.c. Debit to Miscellaneous Expenses for $35.d. Credit to Petty Cash for $165.5.On what date does a 90-day note issued on July 10 mature? ( B )a. October7.b. October8.c. October 9.d. October 10.6. Microtech’s accounts receivable turnover was7.5 for this year and 6.8 for last year. NetTech’s turnover was8.6for this year and 9for last year. Which of the following statements best explains the comparison between the twocompanies? ( A )a. NetTech has the better turnover for both years.b. Microtech has the better turnover for both years.c. NetTech’s turnover is improving.d. Microtech’s change in tur nover is unfavourable.7.On November 15 , 2002 , Leskowich Inc. concluded that a customer’s $4400 account receivable was uncollectible and that the account should be written off. What effect will this write-off have on Leskowich’s 2002 net income and bala nce sheet totals assuming the allowance method is used to account for bad debts? ( B )a. Decrease in net income ; no effect on total assets.b. No effect on net income or on total assets.c. Decrease in net income; decrease in total assets.d. Increase in net income; no effect on total assets.8. What is the accounting procedure that (1) estimates and reports bad debt expense from credit sales during the period of the sales , and (2) reports accounts receivable at the amount of cash proceeds that is expected from their collection? ( D)a. Aging of accounts receivable.b. Adjustment method for uncollectible debts.c. Direct write-off method of accounting for bad debts.d. Allowance method of accounting for bad bets.9. What are quick assets? ( C )a. Cash, short-term investments, prepaid expenses.b. Cash, inventory, accounts receivable.c. Cash, short-term investments, accounts receivable.d. Cash, accounts receivable, prepaid expenses.10. For what reason might a bank issue a debit memorandum?( B )a. To notify a depositor of all increases to the deposit or’s account.b. To notify a depositor of a deduction to a depositor’s account.c. To notify a depositor of an electronic funds transfer into their account.d. To notify a d epositor of an error in the depositor’s accounting records.第六章Use the following information to answer questions 1 through 4.The information shown below was taken from Exeter Company’s income statement for the year-ended December 31, 2002:Sales ……………………………………$94600Net salesOperating expensesSuplemental records showed the following information:Merchandise inventory, December 31 , 2001PurchasesPurchase returns and allowancesPurchase discountsTransportation-inMerchandise inventory, December 31,2002A physical count of the merchandise inventory on December 31,2002 shows a balance on hand of $42000. Exeter’s gross margin ratio for the year-ended December 31 , 2002 was 35%.1. What was the adjusted cost of goods sold balance as it would appear on the income statement for the year-endedDecember 31, 2002? ( C )a. $321300.b. $331100.c. $596700.d.$614900.2. What was the unadjusted cost of goods sold balance as at December 31, 2002? ( A )a. $588200b. $ 596700.c. 605200.d.$614900.3. What was the shrinkage recorde for merchandise inventory on December 31,2002? ( B )a. $0.b. $ 8500.c. $15500.d.$18200.4. What was net income for the year-ended December31 ,2002 ? ( B )a. $85100.b. $103300.c. $368900.d.$378700.5. On January 1, Wadi Inc. had a $300000 inventory at cost. During the first quarter of the year, it purchased $1050000 of merchandise, returned $14800, and paid freight charges on purchased merchandise of $46900. Wadi Inc. has averaged a 28% gross profit on sales. If sales during the first quarter were $1250000, what was the estimated inventory at the end of the first quarter? ( B )a. $388300; 300000+1050000-14800-46900=1288300 gds avail –900000[1250000(1-0.28)]COGS=388300b. $482100; 300000+1050000-14800-46900=1382100 gds avail –900000[1250000(1-0.28)]COGS=482100c. $1032100; 1382100 gds avail –350000 gross profit in error=1032100d. 967900; 300000+1050000+14800-46900=1317900 gds avail -350000 COGS [1250000(0.28)]=967900。