会计英语1

会计用英语怎么说
会计这个词源于英文中的 accounting，是指测算、记载和报告财务信息的过程。

在商业和金融领域中，会计是非常重要的一项工作，它为企业提供了重要的财务信息，以帮助企业管理者制定决策和规划战略。

会计作为一门学科，涉及到财务会计、管理会计、成本会计等多个方面，其重要性不言而喻。

在财务会计领域中，会计顾问必须负责准确记录企业的财务活动，并在事后生成财务报表，帮助企业管理者和股东获得企业在财务方面的概况和表现。

会计顾问必须对会计准则、税收法规、经济资料采集、账户分类等方面有着深厚的了解和经验才能保证工作的质量和准确性。

管理会计方面的工作主要是为企业内部管理提供支持，帮助企业管理者掌握企业内部的财务状况，通过数据分析和财务预算等手段，制定更好的经营计划和战略。

管理会计的工作需要在生产、销售、运营等方面实时记录和分析数据，为企业管理者提供数据支持和决策建议。

成本会计则是关注企业生产成本和控制成本，为企业出产制定更好的价格策略和成本控制方法。

成本会计需要对生产流程、固定成本、变动成本和制造费用等方面有深入的了解，对企业生产、库存等方面做好记录和管理。

在会计学科中，更加重要的是培养学生的专业素质和实际操作能力。

这要求学生不仅具备扎实的理论基础，而且还需要在实践中积累经验和提升技能。

总之，会计在商业领域中扮演着非常重要的角色，它为
企业管理提供了必要的财务支持，同时也为普通人士提供了理解和分析企业财务报表的依据。

因此，作为一名会计人员，必须时刻保持专业素质和职业操守，以保证工作的质量和信誉。

会计英语(1)1.Accounting(会计)The process of indentifying,recording,summarizing,and reporting economic information to dicision makers.2.Financial accounting(财务会计)The field of accounting that serves external decision makers,such as stockholders,suppliers,banks,and government agencies.3.Management accounting(管理会计)The field of accounting that serves internal decision makers,such as top executives,department heads,hosptil administrators,and people at other management levels within an or organization.4.Annual report(年报)A combination of financial statements,management discussion and analysis,and graphs and charts that is provided annually to investors.5.Balance sheet (statement of financial position,statement of financial condition)(资产负债表)A financial statement that shows the financial status of a business entity ata particular instant in time.6.Balance sheet equation(资产负债方程式)Assets = Liabilities + Owners' equity.7.Assets(资产)Economic resources that are expected to help generate future cash inflows or help reduce future cash outflows.8.Liabilities (负债)Economic obligations of the arganization to outsiders ,or claims against its assets by outsiders.9.Owners’ equity （所有者权益）The residual interest in the organization’s assets after deducting liabilities.10.Notes payable （应付票据）Promissory notes that are evidence of a debt and state the terms of payment.11.Entity （实体）An organization or a section of an organization that stands apart from other organization and individuals as a separate economis unit.12.Transaction （交易）Any event that both affects the financial position of an entity and be reliably recorded in money terms.13.Inventory （存货）Goods held by a company for the purpose of sale to customers.14.Account （帐户）A summary record of the changes in a particular assets,liability,or oweners’equity.15.Open account （贸易账户，来往帐目）Buying or selling on credit, usually by just an “authorized signature” of thebuyer.16.Account payable （应付帐款）A liability that results from a purchase of goods or services on open account.17.Creditor (债权人)A person or entity to whom money is owed.18.Debtor (债务人)A person or entity that owes money to another.19.Sole proprietorship (个体经营、独资经营)A separate organization with a single owner.20.Partnership (合伙)A form of organization that joins two or more individuals together as co-owners. 【。

Exercise answer for Lesson 11.1 Select the best answer for each of the following unrelated items1.d2. d3. b4. d5. c6. c7.d8.a9.b 10.b11c 12b 13c 14d 15 a1.2 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 and credits 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 ofthe 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 debit columns, 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 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:a. Invested €50,000 cash and equipment that had a€10,000 fair market (cash equivalent) value.b. Paid €1,600 rent for office space for the month.c. Purchased €12,000 of additional equipment on credit.d. Completed work for a client and immediately collected €2,000 cash.e. Completed work for a client a nd sent a bill for €7,000 to be paid within 30 days.f. Purchased €8,000 of additional equipment for cash.g. Paid an assistant €2,400 as wages for the month.h. Collected €5,000 of the amount owed by the client described in transaction (e).i. Paid for the equipment purchased in transaction (c).j. Withdrew €500 for personal use.Enquired:Using the information presented in (a) through (j) above, Linda Champion, the owner, first creates a table like the one shown below. She then uses the results to calculate net income earned during the month of May, her first month of operations.Solutions:Notice how Assets of €64,500 = Liabilities + Owner’s equity of €64,500. From this schedule you cancalculate the firm’s net income by summarizing the revenues and expenses as follows: Net income =Revenues – Expenses= (€2,000 + €7,000) –(€1,600 + €2,400)= €5,0001.4 Preparing a statement of comprehensive income and a statement of financial positionDuring June through August of 20X5, Lin Yan earned money doing computer consulting work. She went around the city and obtained several contracts for small jobs. Lin then withdrew €3,000 from her personal savings account and deposited it in a separate account for the business. At the end of the summer, Lin tried to figure out how well her business had done.Lin’s business records showed the following transactions:a. Deposited €12,500 (from customers’ payments).b. Issued cheques:−car and equipment rental, €2,000;−gas, €900;−supplies purchased and used, €100;− hir ed help, €4,800;−payroll taxes, €600;−insurance, €180;−telephone, €120.c. Transferred €2,000 cash from the business bank account to personal savings account.d. Owed €500 by customers.e. Owed €150 for gas.Required1. Show the effect of each transaction, including the initial cash deposit, on the accounting equation.2. Prepare a statement of comprehensive income for Lin’s summer business.3. Prepare a statement of financial position for Lin at the end of the summer.Solution:1. To show the effect of each transaction on the accounting equation, construct a worksheet with four columns using the following headings: item, assets, liabilities, and owner’s equity. Recall that revenues increase owner’s equity and expenses decrease owner’s equity.2. Re venues originated from two sources: customers’ payments (€12,500) and from amounts yet to be paid by customers (€500). Total expenses included car and equipment rental (€2,000), car expenses (€900 paid + €150 unpaid), supplies (€100), helpers (€4,800), payroll taxes (€600), insurance (€180), and telephone (€120). Net income is determined from the difference of total revenues and total expenses. Based on this information, the following income statement is prepared.Solutions:3. From the effect of the transactions prepared in part 1, you can generate the following statement of financialposition for the end of the summer.The cash balance can be determined as follows:The cash balance excludes two amounts: the €500 still owed to Lin by customers and €150 she owes for car gas invoices not yet paid. If she receives the money owed her and she pays her debt, then she will have an additional €350 (€500 –€150), making a total cash balance of €5,150 (€4,800 + €350) for the summer. Note that the €2,000 personal withdrawal was not included as an expense on the statement of comprehensive income. The withdrawal is considered a distribution of income (owner’s profits) rather than an expense. The owner’s equity of €5,150 on the balance sheet includes the initial investment plus net income less the withdrawal (€3,000 + €4,150 –€2,000).1.5Increases, decreases, and normal balances of accountsEnquired: Complete the following table by1. Identifying the type of account listed on each line.2. Entering debit or credit in the blank spaces to identify the kind of entry that would increase or decrease the account balance.3. Identifying the normal balance of the account.1.6 Analyzing transactions using T-accountsOpen the following T-accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; Steve Moore, Capital; Steve Moore, Withdrawals; Fees Earned; and Rent Expense. Next, record these transactions of the Moore Company by recording the debit and credit entries directly in the T-accounts. Use the letters beside each transaction to identify the entries.a. Steve Moore invested €12,750 cash in the business.b. Purchased €375 of office supplies for cash.c. Purchased €7,050 of office equipment on credit.d. Received €1,500 cash as fees for services provided to a customer.e. Paid for the office equipment purchased in transaction (c).f. Billed a customer €2,700 as fees for services.g. Paid the monthly rent with €525 cash.h. Collected €1,125 of the account receivable created in transaction (f).i. Steve Moore withdrew €1,000 cash from the business.Enquired:1. Record these transactions of the Moore Company in journal.2. Open the following T-accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; Steve Moore, Capital; Steve Moore, Withdrawals; Fees Earned; and Rent Expense. Next, post the entries in theT-accounts. Use the letters beside each transaction to identify the entries.Solution:a. Steve Moore invested €12,750 cash in the business:b. Purchased €375 of office supplies for cash:c. Purchased €7,050 of office equipment on credit:d. Received €1,500 cash as fees for services provided to a customer:e. Paid for the office equipment purchased in transaction (c):f. Billed a customer €2,700 as fees for services:g. Paid the monthly rent with €525 cash:h. Collected €1,125 of the account receivable created in transaction (f):i. Steve Moore withdrew €1,000 cash from the bu siness:1.7 Correct the errorBetty Wright, CPA, was asked by the controller of Gore Company to review the accounting records before financial statements are prepared. Betty reviewed the records and found three errors.1.Cash paid on accounts payable for $930 was recorded as a debit to Accounts Payable $390 and a credit to Cash $390.2.The purchase of supplies on account for $500 was debited to Equipment $500 and credited to Accounts Payable $500.3.The company paid dividends $1,200. The bookkeeper debited Accounts Receivable for $120 and credited Cash $120. Enquired:Prepare an analysis of each error showing the(a) incorrect entry.(b) correct entry.(c) correcting entry.Solution:1. (a) Incorrect EntryAccounts Payable (390)Cash (390)(b) Correct EntryAccounts Payable (930)Cash (930)(c) Correcting EntryAccounts Payable (540)Cash (540)2. (a) Incorrect EntryEquipment (500)Accounts Payable (500)(b) Correct EntrySupplies (500)Accounts Payable (500)(c) Correcting EntrySupplies (500)Equipment (500)3. (a) Incorrect EntryAccounts Receivable (120)Cash (120)(b) Correct EntryDividends ......................................................................................... 1,200Cash ....................................................................................... 1,200(c) Correcting EntryDividends ......................................................................................... 1,200Accounts Receivable (120)Cash ....................................................................................... 1,0801.8 Ben Cartwright Pest Control has the following balances in selected accounts on December 31, 2011.Accounts Receivable € 0Accumulated Depreciation – Equipment 0Spraying Equipment 6,650Interest Payable 0Notes Payable 20,000Prepaid Insurance 2,400Salaries Payable 0Supplies 2,940Unearned Spraying Revenues 36,000All of the accounts have normal balances. The information below has been gathered at December 31, 2011.1. Depreciation on the equipment for 2011 is €1,250.2. Ben Cartwright Pest Control borrowed €20,000 by signing a 10%, one-year note on July 1, 2011.3. Ben Cartwright Pest Control paid €2,400 for 12 months of insurance coverage on October 1, 2011.4. Ben Cartwright Pest Control pays its employees total salaries of €10,000 every Monday for the preceding 5-day week (Monday-Friday). On Monday, December 27, 2011, employees were paid for the week ending December 24, 2011. All employees worked the five days ending December 31, 2011.5. Ben Cartwright Pest Control performed disinfecting services for a client in December 2011. The client will be billed €3,000.6. On December 1, 2011, Ben Cartwright Pest Control collected €36,000 for disinfecting processes to be performed from December 1, 2011, through May 31, 2011.7. A count of supplies on December 31, 2011, indicates that supplies of €950 are on hand.Enquired:Prepare in journal form with explanations, the adjusting entries for the seven items listed for Ben Cartwright Pest Control.Solutions:(1) Depreciation Expense - Equipment ............................................................... 1,250Accumulated Depreciation - Equipment................................................. 1,250 (To record depreciation for the period)(2) Interest Expense ............................................................................................ 1,000Interest Payable....................................................................................... 1,000 (To record accrued interest on note payable)[€20,000 * 10% * (6/12) = €1,000](3) Insurance Expense (600)Prepaid Insurance (600)(To recognize period insurance expense)[(€2,400 / 12) * 3 = €600](4) Wages Expense .............................................................................................. 10,000Wages Payable ........................................................................................ 10,000 (To record wages for the week)(5) Accounts Receivable ..................................................................................... 3,000Spraying Revenues ................................................................................. 3,000 (To record revenue earned but not yet received)(6) Unearned Spraying Revenues ........................................................................ 6,000Spraying Revenues ................................................................................. 6,000 (To record revenue earned with prior payment)(7) Supplies Expense ........................................................................................... 1,990Supplies .................................................................................................. 1,990 (To record supplies expense)[€2,940 - €950 = €1,990]1.9 Complete the worksheet for adjusted trial balanceThe worksheet for Boone Mailing Center appears below.BOONE MAILING CENTERWorksheetFor the Month Ended August 31, 2011Using the adjustment data below, complete the worksheet. Add any accounts that are necessary. Adjustment data:(a) Prepaid rent expired during August, $2.(b) Depreciation expense on equipment for the month of August, $8.(c) Supplies on hand on August 31 amounted to $6.(d) Salaries expense incurred at August 31 but not yet paid amounted to $10SolutionBOONE MAILING CENTERWorksheetFor the Month Ended August 31, 20111.10Preparing and posting closing entriesUse the information provided in the T-accounts below to prepare closing journal entries at December 31, 20X5.Rent ExpenseSolution:20X5(1) Dec 31 Services Revenue................................................ 73,000Income Summary ......................................... 73,000To close the revenue account and open Income Summary.(2) 31 Income Summary....................................................... 48,100Rent Expense ............................................... 8,600Salaries Expense .......................................... 20,000Insurance Expense ....................................... 3,500Depreciation Expense .................................. 16,000To close the expense accounts.(3) 31 Income Summary....................................................... 24,900Marcy Jones, Capital ................................... 24,900To close Income Summary.(4) 31 Marcy Jones, Capital ................................................ 24,000Marcy Jones, Withdrawals........................... 24,000To close the withdrawals account.Post the closing entries prepared in part (a) above to the T-accounts.1.11 Prepare closing entries and a post-closing trial balanceLatitudes Company had the following adjusted trial balance.LATITUDES COMPANYAdjusted Trial BalanceFor the month ended June 30, 20X1Enquired:(a) Prepare closing entries at June 30, 20X1.(b) Prepare a post-closing trial balance.Solution:(a)Service Revenue ...................................................................................................... 4,100Income Summary ....................................................................................... 4,100 Income Summary ..................................................................................................... 3,900Supplies Expense ....................................................................................... 2,300Miscellaneous Expense .............................................................................. 300 Salaries Expense ................................................................................................................... 1,300Income Summary (200)Retained Earnings (200)Retained Earnings (300)Dividends (300)(b)LATITUDES COMPANYPost-closing Trial BalanceFor the month ended June 30, 20X1Account titles Debits CreditsCash $ 3,700Accounts Receivable 3,900Supplies 500Accounts Payable $ 1,800Unearned Revenue 200Share Capital-Ordinary 5,000Retained Earnings 700DividendsService RevenueSalaries ExpenseMiscellaneous ExpenseSupplies ExpenseSalary Payable 400$8,100 $8,1001.12 Preparation of a classified statement of financial positionThe adjusted trial balance for Alpine Climbing Adventures has been alphabetized as follows:ALPINE CLIMBING ADVENTURESAdjusted trial BalanceMarch 31, 20X7Accounts payable..................................................................... € 2,400Accounts receivable................................................................. € 6,000Accumulated depreciation, equipment..................................... 14,000Amy Rooniak, capital .............................................................. 36,700Amy Rooniak, withdrawals ..................................................... 47,000Cash ......................................................................................... 15,000Depreciation expense, equipment ............................................ 1,400 Equipment................................................................................ 41,000Insurance expense.................................................................... 3,900Interest expense (660)Long-term notes payable ......................................................... 11,000Rent expense............................................................................ 15,000 Revenues.................................................................................. 122,000Supplies (540)Supplies expense...................................................................... 3,600Telephone expense................................................................... 4,200Unearned revenues................................................................... 22,000Utilities expense....................................................................... 1,800Wages expense......................................................................... 68,000 _______Totals ....................................................................................... €208,100 €208,100Required1. Journalize the closing entries.2. Prepare a statement of comprehensive income and a statement of change in owner’s equity for the year ended March 31, 20X7, and a classified statement of financial position at March 31, 20X7. The owner made an additional investment during the year of €5,000. A €6,000 payment on the long-term notes payable will be made during the year ended March 31, 20X7.Solution:20X7 Closing entries:March 31 Revenues............................................................... 122,000Income Summary ........................................... 122,000To close the revenue account.31 Income Summary .................................................. 98,560Depreciation Expense, Equipment ................. 1,400Insurance Expense.......................................... 3,900Interest Expense (660)Rent Expense.................................................. 15,000Supplies Expense ........................................... 3,600Telephone Expense ........................................ 4,200Utilities Expense ............................................ 1,800Wages Expense .............................................. 68,000To close expense accounts.31 Income Summary ................................................. 23,440Amy Rooniak, Capital................................... 23,440To close the income summary to capital.31 Amy Rooniak, Capital.......................................... 47,000Amy Rooniak, Withdrawals.......................... 47,000To close withdrawals to capital.。

初级会计专业英语提纲Ⅰ. Choices (选择及判断资料)P5 会计六要素Assets are the economic resources that are owned or con trolled by a business and can be expressed in monetary units.资产指由企业拥有或控制并能用货币计量的经济资源。

Liabilities are the obligations or debts that a business must pay in money or services at some time in the future.负责指将来需用货币或服务偿还的债务或履行的义务。

Owner’s equity represents the owner’s interest in or claim upon a business net assets which is the difference between the amount of assets and the amount of liabilities.业主权益代表业主对企业净资产的权益或要求权，净资产是指企业的资产总额减负债总额后的余额。

Revenues are the economic resources flowing into a business as a result of operational activities (such as providing goods or services to other economic entities).收入指由于经营活动（例如，向其他经济实体销售产品或提供服务）而流入企业的经济资源。

Expenses are the outflow of a business’s economic resources resulting from the operational activities (such as purchasing goods or receiving services from other economic entities).费用指由于经营活动（例如，采购或接受其他经济实体的商品或服务）而流出企业的经济资源。

会计英文考试范围一、选择题：1、What is the term used to describe the difference between a company’s assets and its liabilities,also residual in the assets of an entity that remains after deducting its liabilities?Owner’s Equity.2、Which financial statement shows whether the business earned a profit and also lists the types andamounts of the revenues and expenses?Income statement3、Which of the following is another term for owner’s equity?Net assets4、Which of the following is true of the accounting entity principle?Means that business records should be kept separately from the owner’s financial records.5、Which is the accounting guideline that requires financial statement information to be supportedby evidence other than someone’s imagination or opinion?Objectivity principle.6、If a business is not being sold or closed, the amounts reported in the accounts for assets used inoperations are based on costs. This practice is justified by which principle?Cost principle.7、If the liabilities of a business increa sed $12,000 during a period of time and owner’s equity in thebusiness decreased $2,000 during the same period, the assets of the business must have increased or decreased by how much?Increased $10,0008、A purchase of office equipment for cash of $130 was recorded as an addition to Office equipmentand an addition to Liabilities. By what amounts under-or overstated as a result of this error?(“Understated” means too low and “overstated” means too high.)Assets, overstated $130; Liabilities, overstated $130.9、What is the area of accounting that prepares information primarily for external decision makerscalled?Financial accounting.10、The following transactions occurred during July:-Received $700 cash for photography services provided to customer during the month.-Received $1,500 cash for 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 $2,500 from the bank-Received $1,000 from a customer in payment for services to be performed next yearWhat was the amount of revenue for July?$1,20011、How do we record an assets created by a payment for economic benefits that does not expireuntil some later time?Record as a debit to a prepaid expense account.12、How do we record a liability created by the receipt of cash from customers in payment forproducts or services that have not yet been delivered to the customers?Record as a credit to an unearned revenue account.13、During the month of February, Hal Company had cash receipts of $6,500 and cashdisbursements of $8,000. The February 28 cash balance was $4,300. What was the beginning (February 1) cash balance?$5,80014、Aimes opened a new business by investing the following assets: cash $4,000; land $20,000;building $80,000. Also, the business will assume responsibility for a note payable of $32,000.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?Cash $4,000Land $20,000Building $80,000Note payable $32,000Aimes, capital $72,00015、Of the following independent errors, which one by itself will cause the trial balance to be out ofbalance?A $100 receipt from a customer in payment of his account posted as a $100 debit to Cashand a $10 credit to Accounts receivable.16、What is the correct description of a general ledger?A book of final entry.17、On September 30, Accounts payable had a normal balance of $2,300. During September, theaccount was credited for a total of $5,400 and debited for a total of $3,900. What was the balance in the Accounts payable at the beginning of September?An $800 credit balance.18、Which of the following is a credit?A decrease in an expense account.19、Which column in journals and accounts is used to cross-reference journal and ledger entries?Post Ref.20、On April 30, Hal Company had an Accounts Receivable balance of $37,000. During the monthof May, total credit to Accounts Receivable were $24,000, which resulted from customer payments. The May 31 Accounts Receivable balance was $32,000.What was the amount of credit sales during May?$19,00021、If an accountant forgot to record Depreciation on office equipment at the end of an accountingperiod, which of the following would be true regarding the statements prepared at that time?The assets, net income and owner’s equity are overstated.22、The Crimson Cartage Company purchased a new truck at a cost of $42,000 on July 1, 2001. Thetruck is estimated to have a useful life of 6 years and a salvage value of $6,000. How much Depreciation expense will be recorded for the truck during the year ended December 31,2001 assuming the straight-line method?$3,00023、The Office Supplies account shows a beginning balance of $600 and an ending balance of $400.If office supplies expense for the year is $3,100, what amount of office supplies was purchased during the period?$2,90024、If accrued salaries were recorded on December 31 with a credit to Salaries Payable, what wouldthe entry to record payment of these wages on January 5 include?A debit to Salaries Payable and a credit to Cash.25、HCF, finance company, lends Able Business $2,400 at 5% for 3 months on December 1,2001.What should HCF’s adjusting entry on December 31,2001 include?A credit to Interest Earned for $10.26、Josh’s Computer Business own s computer equipment that cost $6,000 when it was purchasedthree years ago. Its current book value is $2,400. What is the Depreciation expense per year using straight-line method?$1,20027、Which of the following describes the current ratio?Helps to asses s a company’s ability to pay its debts in the near future.28、On the work sheet, the income statement debit column shows a total of $56,500. The incomestatement column total is $52,500. What is the net income or net less?The net loss of this business is $4,000.29、The Jon Godfrey, Capital account has a debit balance of $1,200 before closing entries are made.If total revenues for the year are $55,200, total expenses $39,800, and withdrawals are $9,000, what is the ending balance in the Jon Godfrey, Capital account after all closing entries have been made?$5,20030、An error is indicated if the following has a balance appearing on then post-closing trial balance:Depreciation Expense, Office Equipment.31、Wallaby Company had net sales of $694,000 and cost of goods sold of $360,880. What is thegross margin ratio?48%32、Which of the following is an explanation of cost of goods sold?Cost of goods sold is the term used for the cost of buying and preparing merchandise. 33、Which of the following is a characteristic of merchandise inventory?Is a current asset.34、Which phrase best describes a perpetual system?Gives a continual record of the amount of inventory on hand.35、Which one of the following qualities is related to a periodic inventory system?Was historically used by companies that sold large volumes of small, low-balance items. 36、Z-Mart recorded the following journal entry:Accounts Payable ……………………………….2 500Merchandise Inventory (50)Cash …………………………………………….…2 450What is this transaction?A payment of the account payable and recognition of a cash discount taken.37、What transaction causes a debit to Sales return and allowances and a credit to Accountsreceivable?When a customer returns merchandise to the seller, this entry is recorded by the seller. 38、During the closing process, all temporary debit and credit balance accounts are closed. Which ofthe following accounts would be closed with a debit?Sales.39、In a periodic system, the cost of merchandise inventory is determined by what?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 coat.40、Aldrige Company purchased $1,800 of merchandise on December 5, terms 2/10, n/15. OnDecember 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?$1,56841、Can Tex had $54 in missing petty cash receipts. What is the correct treatment?Debit Cash Over and Short for $54.42、Zimbooru Company had $12 in extra cash at the end of the day. What ids the correct treatment?Credit Cash Over and Short for $12.43、The custodian of a $500 petty cash fund has $62.50 in coins and currency plus $432.50 inreceipts at the end of the month. What will the entry to replenish the petty cash fund include?A credit to Cash for $437.50.44、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?Debit to Cash for $165.45、On what date does a 90-day note issued on July 10 mature?October 8.46、Microtech’ s accounts receivable turnover was 7.5 for this year and 6.8 for last year. NetTech’ sturnover was 8.6 for this year and 9 for last year. Which of the following statements best explains the comparison between the two companies?NetTech has the better turnover for both years.47、On November 15, 2002, Leskowich Inc. concluded that a customer’s $4 400 account receivableuncollectible and that the account should be written off. What effect will this write-off have on Leskowich’s 2002 net income and balance sheet totals assuming the allowance method is used to account for bad debts?No effect on net income or on total assets.48、What is the accounting procedure (1) estimates and reports and reports bad debt expense fromcredit sales during the period of the sales, and (2) report accounts receivable at the amount of cash proceeds that is expected from their collection?Allowance method of accounting of bad debts.49、What are quick assets?Cash, short-term investments, accounts receivable.50、For what reason might a bank issue a debit memorandum?To notify a depositor of a deduction to a depositor’s account.题目：The information shown below was taken from Exeter Company’s income statement for the year-ended December 31, 2002:Sales……………………………………………$946,000Net sales………………………………………..$918,000Operating expenses…………………………….$218,000Supplemental records showed the following information:Merchandise inventory, December 31,2001…………………$35,000 Purchases……………………………………………………..$615,700Purchase returns and allowances……………………………..$21,000Purchase discounts……………………………………………$17,000Transportation-in……………………………………………. $26,000Merchandise inventory, December 31,2002………………….$50,500A physical count of the merchandise inventory on December 31, 2002 shows a balance on hand of $42,000. Exeter’s gross margin ratio for the year-ended December 31, 2002 was 35%.51、What was the adjusted cost of goods sold balance as it would appear on the income statementfor the year-ended December 31, 2002?$596,70052、What was the unadjusted cost of goods sold balance as at December 31,2002?$588,20053、What was the shrinkage recorded for merchandise inventory on December 31, 2002?$8,50054、What was net income for the year-ended December 31,2002?$103,30055、On Jan. 1, Wadi Inc. had a $300,000 inventory at cost. During the first quarter of the year, itpurchased $1,050,000 of merchandise, returned $14,800, and paid freight charges on purchased merchandise of $46,900. Wadi Inc. has averaged a 28% gross profit on sales. If sales during the first quarter wer $1,250,000, what was the estimated inventory at the end of the first quarter?$482,100; 300,000+1,050,000-14,800+46,900=1,382,100 gds avail -900,000 cods = 482,100 56、Nepal Adventure Supply Company markets a climbing kit and uses a perpetual inventory systemto account for its merchandise. The beginning balance of the inventory and transactions during January were as follows:Jan.1: Balance: 18 units at $13 eachJan.12: Purchased 30 units at $14 eachJan.19: Sold 24 units for a selling price of $20 eachJan.20: Purchased 24 units at $17Jan.27: Sold 27 units for a selling price of $20 eachIf the ending inventory is valued at $276, what inventory method was used?LIFO57、Which of the following methods of inventory valuation is appropriate on the balance sheet?A or B, whichever is lower.58、A company uses FIFO in 20*1 and switches to LIFO in 20*2. Which accounting principle orconcept has been violated?consistency59、An overstatement of the ending inventory in 20*1 will have the following effects on cost ofgoods sold and net income in 20*2:Cost of Goods Sold：overstate Net Income：understate60、Under the retail inventory method, freight-in would be included in the calculation of the goodsavailable for sale for which of the following?Cost：Yes Retail：No61、When computing the amount of interest cost to be capitalized, the concept of “avoidable interestrefers to：that portion of total interest cost which would not have been incurred if expenditures for asset construction had not been made.62、When specific funds are borrowed to pay for construction of assets that qualify for capitalizationof interest, the excess funds not needed to pay for construction may be temporarily invested in interest-bearing securities. Interest earned on these temporary investments should be：used to reduce the cost of assets being constructed.63、For a nonmonetary exchange of plant assets, if the exchange lacks commercial substance,accounting recognition should not be given to：no gain or loss.64、The book value of an asset classified as plant and equipment is obtained by：deducting accumulated depreciation from the original cost of the asset.65、Plant assets purchased in exchange for issuing a zero-interest-bearing note should be accountedfor at the：present value of the note.66、Upon purchase of certain depreciable assets used in its production process, a company expectsto be able to replace these assets by adopting a policy of never declaring dividends in amount larger than net income. If a net income is earned each year, recording depreciation will coincidentally result in retention of sufficient assets within the enterprise. If in liquid form, these assets could be used to replace those fully depreciated assets if：prices remain reasonably constant during the life of property.67、W Company determines that a printing press used in its operations has suffered a permanentimpairment in value because of technological changes. An entry to record the impairment should be the excess of the carrying amount of an asset over the：higher of net realizable value with present value of expected future net cash flows.68、Charging the cost of ordinary repairs to the machinery and equipment asset account during thecurrent year would：Not affect the total liabilities at the end of current year.69、The intangible asset goodwill may be：capitalized only when purchased.70、Purchase goodwill should be written off：after impairment test shows that has impairment.。

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。

Unit 2 accounting cycle会计英语Accounting Equation and Double Entry会计等式与复式记账法The financial condition or position of a business enterprise is represented by the relationshipof assets to liabilities and capital.一个企业的财务是由资产对负债和资本的关系来表示的。

Assets are properties that are owned and have monetary value; for instance, cash, inventory, buildings, equipments.资产是指企业所拥有的、具有货币价值的财产，如现金、存货、建筑物、设备。

Liabilities are amounts owned to outsiders, such as notes payable, accounts payable, bonds payable. Liabilities may also include certain deferred items, such as income taxes to be allocated.负债是欠外部的数额，如应付票据、应付账款、应付债券。

负债还可以包括某些递延的项目，如待分配的所得税。

Capital is the interest of the owner in an enterprise. Also known as owner’s equity.资本是企业所有者的利益，也称之为业主权益。

These three basic elements are connected by fundamental relationship called balance-sheet equation, sometimes called simply the accounting equation.This equation expresses the equality of the assets on one side with the claims of the creditorsand owners on the other side:Assets = Liability + Capital.这三个基本的要素由一个叫做资产负债表等式、有时称之为会计等式的关系式联系起来。

Chapter one Introduction to Accounting 1.1 Bookkeeping and AccountingAccounting is an information system that identifies，measures，records and communicates relevant，reliable，consistent，and comparable information about an organization’s economic activity. Its objective is to help people make better decisions.An understanding of the principles of bookkeeping and accounting is essential for anyone who is interested in a successful career in business. The purpose of bookkeeping and accounting is to provide information concerning the financial affairs of a business. Owners, managers, creditors, and governmental agencies need this information.An individual who earns living by recording the financial activities of business is known as a bookkeeper, while the process of classifying and summarizing business transactions and interpreting their effects is accomplished by an accountant. Accountant is the individual who understands the accounting principles, theoretical and practical application, and can manage, analyze, and interpret the accounting records. The bookkeeper is concerned with techniques involving the recording of transactions, and the accountant’s objective is the use of data for interpretation.第一章['tʃæptə]会计导论[.intrə'dʌkʃən]1.1 簿记与会计会计是一个信息系统，[ai'dentəfai]辨别、['meʒəz]测量、记录和交流相关的['reləvənt]、可靠的[ri'laiəbl]、持续的[kən'sistənt]和可比的['kɔmpərəbl]一个组织经济活动的信息。

会计英语相关知识1. 介绍会计英语是指在会计领域中使用的特定英语词汇和表达方式。

随着全球经济的发展和国际贸易的增加，掌握会计英语已经成为会计专业人员的必备技能。

本文将介绍一些常用的会计英语词汇和表达方式，并提供一些实用的句子和短语供参考。

2. 会计英语词汇以下是一些会计领域常用的英语词汇：•Assets: 资产•Liabilities: 负债•Equity: 股东权益•Revenue: 收入•Expenses: 费用•Balance Sheet: 资产负债表•Income Statement: 损益表•Cash Flow Statement: 现金流量表•General Ledger: 总账•Journal Entries: 日记账•Auditing: 审计•Taxation: 税务•Depreciation: 折旧•Accrual: 应计3. 会计英语常用表达以下是一些常用的会计英语表达方式：•Net Income: 净利润•Gross Profit: 毛利润•Current Assets: 流动资产•Fixed Assets: 固定资产•Current Liabilities: 流动负债•Long-term Liabilities: 长期负债•Earnings per Share (EPS): 每股收益•Return on Investment (ROI): 投资回报率•Accounts Payable: 应付账款•Accounts Receivable: 应收账款•Cash Flow: 现金流量•Cost of Goods Sold (COGS): 销售成本•Gross Margin: 毛利率•Operating Expenses: 经营费用•Financial Statements: 财务报表•Trial Balance: 试算表•Profit and Loss (P&L) Statement: 损益表4. 实用句子和短语以下是一些在会计工作中常用的句子和短语：1.We need to prepare the financial statements for the previous fiscal year.（我们需要为上个财政年度准备财务报表。