会计学原理英文版21版答案

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会计学原理英文版Accounting Principles。

Accounting is the language of business. It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. Accounting principles are the rules and guidelines that companies must follow when reporting financial data. These principles are essential for the preparation of financial statements that are accurate and reliable.The basic principles of accounting are generally accepted and are the foundation on which the entire accounting structure is based. They provide a framework for the preparation and presentation of financial statements. The following are some of the key accounting principles:1. Accrual Principle: This principle states that revenue and expenses should be recognized when they areincurred, regardless of when cash is received or paid. This means that revenue is recorded when it is earned and expenses are recorded when they are incurred, regardless of when the cash is actually received or paid out.2. Matching Principle: This principle requires that expenses be matched with revenues. It means that expenses should be recognized in the same period as the revenues to which they relate. This ensures that the financial statements accurately reflect the results of operations for a specific period.3. Cost Principle: According to this principle, assets should be recorded at their original cost. This means that when an asset is acquired, it is recorded at the amount of cash paid or the fair market value of the consideration given to acquire it.4. Going Concern Principle: This principle assumes thata business will continue to operate indefinitely. It means that the financial statements are prepared with the assumption that the business will continue to operate inthe foreseeable future.5. Conservatism Principle: This principle dictates that when in doubt, accountants should choose the method thatwill result in the least favorable outcome for the company. This means that assets and revenues are not overstated, and liabilities and expenses are not understated.6. Consistency Principle: This principle requires that once a company chooses an accounting method or principle,it should continue to use it consistently in the future. This ensures that financial statements are comparable over time.7. Materiality Principle: This principle states that financial information should be disclosed if it could influence the economic decisions of users. If theinformation is immaterial, it does not need to be disclosed.These principles form the basis for the preparation of financial statements that are reliable and comparable. They ensure that financial information is presented in aconsistent and understandable manner, allowing users to make informed decisions. Adhering to these principles is essential for the credibility and integrity of financial reporting.In conclusion, accounting principles are the guidelines that companies must follow when preparing financial statements. They ensure that financial information is accurate, reliable, and comparable. By adhering to these principles, companies can provide users with meaningful and useful financial information, which is essential for making informed economic decisions.。

怀尔德会计学原理21版英语题库答案怀尔德会计学原理21版英语题库答案Chapter 1Accounting in BusinessQUESTIONS1. The purpose of accounting is to provide decision makers with relevant and reliableinformation to help them make better decisions. Examples include information forpeople making investments, loans, and business plans.2. Technology reduces the time, effort, and cost of recordkeeping. There is still ademand for people who can design accounting systems, supervise their operation,analyze complex transactions, and interpret reports. Demand also exists for peoplewho can effectively use computers to prepare and analyze accounting reports.Technology will never substitute for qualified people with abilities to prepare, use,analyze, and interpret accounting information.3. External users and their uses of accounting information include:(a) lenders, tomeasure the risk and return of loans; (b) shareholders, to assess whether to buy,sell, or hold their shares; (c) directors, to oversee theirinterests in the organization;(d) employees and labor unions, to judge the fairness of wages and assess futureemployment opportunities; and (e) regulators, to determine whetherthe organizationis complying with regulations. Other users are voters, legislators, governmentofficials, contributors to nonprofits, suppliers and customers.4. Business owners and managers use accounting information to help answerquestions such as: What resources does an organization own? Whatdebts are owed?How much income is earned? Are expenses reasonable for the level of sales? Arecustomers‘ accounts being promptly collected?5. Service businesses include: Standard and Poor‘s, Dun & Bradstreet, Merrill Lynch,Southwest Airlines, CitiCorp, Humana, Charles Schwab, and Prudential. Businessesoffering products include Nike, Reebok, Gap, Apple Computer, Ford Motor Co.,Philip Morris, Coca-Cola, Best Buy, and Circuit City.6. The internal role of accounting is to serve the organization‘s internal ope ratingfunctions. It does this by providing useful information for internal users incompleting their tasks more effectively and efficiently. By providing this information,accounting helps the organization reach its overall goals.7. Accounting professionals offer many services including auditing, managementadvice, tax planning, business valuation, and money management.8. Marketing managers are likely interested in information such as sales volume,advertising costs, promotion costs, salaries of sales personnel, and salescommissions.9. Accounting is described as a service activity because it serves decision makers byproviding information to help them make better business decisions.10. Some accounting-related professions include consultant,financial analyst,underwriter, financial planner, appraiser, FBI investigator, market researcher, andsystem designer.11. Ethics rules require that auditors avoid auditing clients in which they have a directinvestment, or if the auditor‘s fee is dependent on the figures in the client‘s reports.This will prev ent others from doubting the quality of the auditor‘s report.12. In addition to preparing tax returns, tax accountants help companies and individualsplan future transactions to minimize the amount of tax to be paid. They are alsoactively involved in estate planning and in helping set up organizations. Some taxaccountants work for regulatory agencies such as the IRS or the various statedepartments of revenue. These tax accountants help to enforce tax laws. 13. The objectivity concept means that financial statement information is supported byindependent, unbiased evidence other than someone‘s opinion or imagination. Thisconcept increases the reliability and verifiability of financial statement information. 14. This treatment is justified by both the cost principle and the going-concernassumption.15. The revenue recognition principle provides guidance for managers and auditors sothey know when to recognize revenue. If revenue is recognized too early, thebusiness looks more profitable than it is. On the other hand, if revenue isrecognized too late the business looks less profitable than it is. This principledemands that revenue be recognized when it is both earned and can be measuredreliably. The amount of revenue should equal the value of the assets received orexpected to be received from the business‘s operating activities covering a specifictime period.16. Business organizations can be organized in one of three basic forms: soleproprietorship, partnership, or corporation. These forms have implications for legalliability, taxation, continuity, number of owners, and legal status as follows:Proprietorship Partnership CorporationBusiness entity yes yes yesLegal entity no no yesLimited liability no* no* yesUnlimited life no no yesBusiness taxed no no yesOne owner allowed yes no yes*Proprietorships and partnerships that are set up as LLCs provide limited liability.17. (a) Assets are resources owned or controlled by a company that are expected toyield future benef its. (b) Liabilities are creditors‘ claims on assets that reflectobligations to provide assets, products or services to others.(c) Equity is theowner‘s claim on assets and is equal to assets minus liabilities.(d) Net assets referto equity.18. Equity is increased by investments from the owner and by net income. It isdecreased by withdrawals by the owner and by a net loss (which is the excess ofexpenses over revenues).19. Accounting principles consist of (a) general and (b) specific principles. Generalprinciples are the basic assumptions, concepts, and guidelines for preparingfinancial statements. They stem from long-used accounting practices. Specificprinciples are detailed rules used in reporting on business transactions and events.They usually arise from the rulings of authoritative and regulatory groups such asthe Financial Accounting Standards Board or the Securities and ExchangeCommission.20. Revenue (or sales) is the amount received from selling products and services. 21. Net income (also called income, profit or earnings) equals revenues minus expenses(if revenues exceed expenses). Net income increases equity. If expenses exceedrevenues, the company has a Net Loss. Net loss decreases equity.22. The four basic financial statements are: income statement, statement of owner‘sequity, balance sheet, and statement of cash flows.23. An income statement reports a company‘s revenues and expenses along with theresulting net income or loss over a period of time.24. Rent expense, utilities expense, administrative expenses, advertising and promotionexpenses, maintenance expense, and salaries and wages expenses are someexamples of business expenses.25. The statement of owner‘s equity explains the changes in equity from net income orloss, and from any owner contributions and withdrawals over a period of time. 26. The balance sheet describes a company‘s financial position (types and amounts ofassets, liabilities, and equity) at a point in time.27. The statement of cash flows reports on the cash inflows and outflows from acompany‘s operating, investing, and financing activities.28. Return on assets, also called return on investment, is a profitability measure that isuseful in evaluating management, analyzing and forecasting profits, and planningactivities. It is computed as net income divided by the averagetotal assets. Forexample, if we have an average annual balance of $100 in a bank account and itearns interest of $5 for the year, then our return on assets is $5 / $100 or 5%. Thereturn on assets is a popular measure for analysis because it allows us to comparecompanies of different sizes and in different industries.A 29. Return refers to income, and risk is the uncertainty about the return we expect tomake. The lower the risk of an investment, the lower the expected return. Forexample, savings accounts pay a low return because of the low riskof a bank notreturning the principal with interest. Higher risk implies higher,but riskier, expectedreturns.B30. Organizations carry out three major activities: financing,investing, and operating.Financing provides the means used to pay for resources. Investing refers to theacquisition and disposing of resources necessary to carry out the organizat ion‘splans. Operating activities are the actual carrying out of these plans. (Planning is theglue that connects these activities, including the organization’s ideas, goals andstrategies.)B31. An organization‘s financing activities (liabilities and equity) pay for investingactivities (assets). An organization cannot have more or less assets than itsliabilities and equity combined and, similarly, it cannot have more or less liabilitiesand equity than its total assets. This means: assets = liabilities + equity. Thisrelation is called the accounting equation (also called the balance sheet equation),and it applies to organizations at all times.32. The dollar amounts in Best Buy‘s financial statements are rounded to the nearest$1,000,000. Bes t Buy‘s consolidated st atement of earnings (or income statement)covers the fiscal year (consisting of 53 weeks) ended March 3, 2007. Best Buy alsoreports comparative income statements for the previous two years (consisting of 52weeks).33. In thousa nds, Circuit City‘s accoun ting equation is:Assets = Liabilities + Equity$4,007,283 = $2,216,039 + $1,791,24434. At December 31, 2006, RadioShack had (in millions) assets of $2,070.0, liabilities of$1,416.2, and equity of $653.8.35. The independent auditor for Apple, Inc., is KPMG LLP. The auditor expressly statesthat ―our responsibility is to express an opinion on these consolidated financialstatements based on our audits.‖ The auditor also states that ―these consolidatedfinancial statements are the responsibility of the Com pany‘s management.‖Chapter 21EXERCISESExercise 21-1 (25 minutes)1. Allocation of Indirect Expenses to Four Operating DepartmentsSupervision expensesDepartment Employees % of Total CostMaterials ................................ 40 20% $16,000Personnel .............................. 22 11 8,800Manufacturing ....................... 104 52 41,600Packaging .............................. 34 17 13,600Totals ..................................... 200 100% $80,000 Utilities expensesDepartment Square Feet % of Total CostMaterials ................................ 27,000 27% $16,470 Personnel .............................. 5,000 5 3,050Manufacturing ....................... 45,000 45 27,450Packaging .............................. 23,000 23 14,030Totals ..................................... 100,000 100% $61,000 Insurance expensesDepartment Asset Value % of T otal CostMaterials ................................ $ 60,000 50% $ 8,350 Personnel .............................. 1,200 1 167Manufacturing ....................... 42,000 35 5,845Packaging .............................. 16,800 14 2,338Totals .....................................$120,000 100% $16,7002. Report of Indirect Expenses Assigned to Four Operating DepartmentsSupervision Utilities Insurance TotalMaterials ................................$16,000 $16,470 $ 8,350 $ 40,820 Personnel ..............................8,800 3,050 167 $ 12,017 Manufacturing .......................41,600 27,450 5,845 $ 74,895 Packaging .............................. 13,600 14,030 2,338 $ 29,968 Totals ................................$80,000..... $61,000 $16,700 $157,700 Exercise 21-2 (30 minutes)Calculation of predetermined overhead rates to apply ABC Overhead Cost TotalCategory (Activity Total Amount ofCost Pool) Cost Cost Driver Predetermined Overhead Rate Supervision ........................$ 5,400 $36,000 15% of direct labor costDepreciation .......................56,600 2,000 MH $28.30 per machine hourLine preparation ................46,000 250 setups $184.00 per setup1. Assignment of overhead costs to the two products usingABCRounded edgeCost Cost per AssignedDriver Driver Unit CostSupervision ........................... $12,200 15% $ 1,830Machinery depreciation ........ 500 hours $ 28.30 14,150Line preparation.................... 40 setups $184.00 7,360Total overhead assigned ...... $23,340Squared edgeCost Cost per AssignedDriver Driver Unit CostSupervision ........................... $23,800 15% $ 3,570Machinery depreciation ........ 1,500 hour$ 28.30 42,450sLine preparation....................210 setups $184.00 38,640Total overhead assigned ...... $84,6602. Average cost per foot of the two productsRounded edge Squared edgeDirect materials .......................... $19,000 $ 43,200Direct labor ................................. 12,200 23,800Overhead (using ABC) ............... 23,340 84,660Total cost ................................... $54,540 $151,660Quantity produced ..................... 10,500 ft. 14,100 ft.Average cost per foot (ABC) ...... $5.19 $10.763. The average cost of rounded edge shelves declines and the average cost of squared edge shelves increases. Under the current allocation method, the rounded edge shelving was allocated 34% of all of the overhead cost ($12,200 direct labor/$36,000 total direct labor). However, it does not use 34% of all of the overhead resources. Specifically, it uses only 25% ofmachine hours (500 MH/2,000 MH), and 16% of the setups (40/250). Activity based costing allocated the individual overhead components in proportion to the resources used.Exercise 21-7 (15 minutes)(1) Items included in performance reportThe following items definitely should be included in the performance report for the auto service department manager because they arecontrolled or strongly influenced by the manager‘s decisions and activities:, Sales of parts, Sales of services, Cost of parts sold, Supplies, Wages (hourly)(2) Items excluded from performance reportThe following items definitely should be excluded from the performance report because the department manager cannot control or strongly influence them:, Building depreciation, Income taxes allocated to the department, Interest on long-term debt, Manager‘s salary(3) Items that may or may not be included in performance report The following items cannot be definitely included or definitely excluded from the performance report because they may or may not be completely under the manager‘s control or strong influence:, Payroll taxes Some portion of this expense relates to themanager‘s salary and is not controllable by themanager. The portion that relates to hourly wagesshould be treated as a controllable expense., Utilities Whether this expense is controllable depends on the design of the auto dealership. If the auto servicedepartment is in a separate building or has separateutility meters, these expenses are subject to themanager‘s control. Otherwise, th e expense probablyis not controllable by the manager of the auto servicedepartment.Exercise 21-9 (20 minutes)(1)Investment Center Net Income Average Assets Return on AssetsElectronics ................... $750,000 $3,750,000 20%Sporting Goods ............ 800,000 5,000,000 16%Comment: Its Electronics division is the superior investment center on the basis of the investment center return on assets.Exercise 21-9 (continued)(2)Investment Center Electronics Sporting GoodsNet income ................... $750,000 $800,000Target net income$3,750,000 x 12% ....... (450,000)5,000,000 x 12% ........ (600,000)Residual income……. $300,000 $200,000Comment: Its Electronics division is the superior investment center on the basis of investment center residual income.(3) The Electronics division should accept the new opportunity, since it will generate residual income of 3% (15% - 12%) of the investment‘s investedassets.Exercise 21-10 (15 minutes)Investment Center Net Income Sales Profit MarginElectronics ................... $750,000 $10,000,000 7.50%Sporting Goods ............ 800,000 8,000,000 10.0%InvestmentInvestment Center Sales Average Assets TurnoverElectronics ...................$10,000,000 $3,750,000 2.67Sporting Goods ............ 8,000,000 5,000,000 1.6Comments: Its Sporting goods division generates the most net income per dollar of sales, as shown by its higher profit margin. The Electronics division however is more efficient at generating sales from invested assets, based on its higher investment turnover.PROBLEM SET AProblem 21-1A (60 minutes)Part 1Average occupancy cost = $111,800 / 10,000 sq. ft. = $11.18 per sq. ft.Occupancy costs are assigned to the two departments as follows Department Square Footage Rate TotalLanya‘s Dept. ............... 1,000 $11.18 $11,180Jimez‘s Dept. ................ 1,700 $11.18 $19,006**A total of $30,186 ($11,180 + $19,006) in occupancy costs is charged to these departments. The company would follow a similar approach in allocating the remaining occupancy costs ($81,614, computed as $111,800 - $30,186) to its other departments (not shown in this problem).Part 2Market rates are used to allocate occupancy costs fordepreciation, interest, and taxes. Heating, lighting, and maintenance costs are allocated to the departments on both floors at the average rate per square foot. These costs are separately assigned to each class as follows:Total Value-Based Usage-BasedCosts Costs CostsDepreciation—Building...................$ 31,500 $31,500Interest—Building mortgage .......... 47,000 47,000Taxes—Building and land............... 14,000 14,000Gas (heating) expense .................... 4,425 $ 4,425Lighting expense ............................ 5,250 5,250Maintenance expense ..................... 9,625 ______ 9,625Total .................................................$111,800 $92,500 $19,300Problem 21-1A (Continued)Value-based costs are allocated to departments in two steps(i) Compute market value of each floorSquare Value perFloor Footage Sq. Ft. TotalFirst floor ...............................5,000 $40 $200,000Second floor ..........................5,000 10 50,000Total market value................. $250,000(ii) Allocate $92,500 to each floor based on its percent of market valueMarket % of Allocated Cost perFloor Value T otal Cost Sq. Ft.First floor ...............................$200,000 80% $74,000$14.80Second floor .......................... 50,000 20 18,500 3.70Totals ................................$250,000..... 100% $92,500 Usage-based costs allocation rate = $19,300 / 10,000 sq. ft.= $1.93 per sq. ft.We can then compute total allocation rates for the floors FloorValue Usage TotalFirst floor ............................... $14.80 $1.93 $16.73Second floor .......................... 3.70 1.93 $ 5.63These rates are applied to allocate occupancy costs to departments SquareDepartment Footage Rate TotalLanya‘s Department ........................ 1,000 $16.73 $16,730Jim ez‘s Department ........................ 1,700 5.63 $ 9,571Part 3A second-floor manager would prefer allocation based on market value. This is a reasonable and logical approach to allocation of occupancy costs. The current method assumes all square footage has equal value. This is not logical for this type of occupancy. It also means the。

最新2021版会计学原理课后习题及答案会计学原理课后习题答案1第一章总论本章习题一、单项选择题1．会计的基本前提包括会计主体、（）、会计期间和货币计量四个方面的内容。

A．实际成本 B．经济核算 C．持续经营 D．会计准则 2．会计的基本职能是（）。

A．核算和监督 B．预测和决策 C．监督和分析 D．反映和核算3．会计核算应以实际发生的交易或事项为依据，如实反映企业财务状况，体现了（）原则。

A．实质重于形式 B．明晰性 C．客观性 D．谨慎性 4．计提坏账准备的做法体现了（）。

Ａ．相关性Ｂ．谨慎性Ｃ．重要性Ｄ．可比性 5．企业的会计核算要求会计指标应当口径一致，体现了（）原则。

Ａ．相关性Ｂ．明晰性Ｃ．客观性Ｄ．可比性6．（）是处理会计工作的规范，制定会计制度的依据，也是评价会计信息质量的标准。

Ａ．会计法律法规Ｂ．企业会计准则Ｃ．金融企业会计制度Ｄ．小企业会计制度二、多项选择题1．工业企业的资金循环形态有（）。

Ａ．货币资金Ｂ．流通资金Ｃ．生产资金Ｄ．储备资金 E．成品资金F．商品资金 2．会计的新职能包括（）。

Ａ．控制Ｂ．分析Ｃ．核算Ｄ．检查 E．预测 F．决策3．下列各项属于会计核算专门方法的有（）。

Ａ．登记账本Ｂ．成本计算Ｃ．复式记账Ｄ．预测决策 E．财产清查F．监督检查4．下列各项属于会计信息质量要求的有（）。

Ａ．客观性Ｂ．完整性Ｃ．重要性Ｄ．相关性 E．连续性 F．可比性 5．下列各项可作为会计主体的有（）。

Ａ．集团公司Ｂ．独立核算的分公司Ｃ．非独立核算的车间Ｄ．独立核算的营业部6．我国已发布执行的企业会计制度有（）。

Ａ．《企业会计制度》Ｂ．《金融企业会计制度》Ｃ．《小企业会计制度》Ｄ．《物流企业会计制度》三、判断题 1．（）会计核算的各种专门方法在会计核算过程中应单独运用，互不相干。

12．（）会计主体应该是独立核算的经济实体。

3．（ 4．（ 5．（ 6．（）会计的基本职能是检查和监督。

）会计基本前提包括会计主体、货币计量、资料完整和经济效益。