会计英语课后习题参考答案
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Suggested Solution
Chapter 1
1.
Effect on the accounting equation (1) (2) (3) (4) (5) (6)
(a) Increase in one asset, decrease in
another asset. √
(b) Increase in an asset, increase in a liability.
(c) Increase in an asset, increase in capital. √ √
(d) Decrease in an asset, decrease in a
liability. √
(e) Decrease in an asset, decrease in capital. √ √
2.
Transactions
Assets
+/- Liabilities
+/- Owner’s equity
+/-
1 + +
2 + +
3 - -
4 +
+
5 + +
6 - -
7 - -
8 +/-
9 - -
10 - -
3.
Describe each transaction based on the summary above.
Transactions
1 Purchased land for cash, $6,000.
2 Investment for cash, $3,200.
3 Paid expense $1,200.
4 Purchased supplies on account, $800.
5 Paid owner’s personal use, $750.
6 Paid creditor, $1,500
7 Supplies used during the period, $630.
4.
Assets Liabilities Equity
Beginning 275,000 80,000 195,000
Add. investment 48,000
Add. Net income 27,000
Less withdrawals -35,000
Ending 320,000 85,000 235,000 5.
(a)
March 31, 20XX April 30, 20XX
Assets
Cash 4,500 5,400
Accounts receivable 2,560 4,100
Supplies 840 450
Total assets 7,900 9,950
Liabilities
Accounts payable 430 690
Equity
Tina Pierce, Capital 7,470 9,260
(b) net income = 9,260-7,470=1,790
(c) net income = 1,790+2,500=4,290 Chapter 2
1.
a. To increase Notes Payable -CR
b. To decrease Accounts Receivable-CR
c. To increase Owner, Capital -CR
d. To decrease Unearned Fees -DR
e. To decrease Prepaid Insurance -CR
f. To decrease Cash - CR
g. To increase Utilities Expense -DR
h. To increase Fees Earned -CR
i. To increase Store Equipment -DR
j. To increase Owner, Withdrawal -DR
2.
a.
Cash 1,800
Accounts payable ................................................... 1,800
b.
Revenue ................................................................... 4,500
Accounts receivable ...................................... 4,500
c.
Owner’s withdrawals ................................................ 1,500
Salaries Expense ............................................ 1,500
d.
Accounts Receivable ................................................ 750
Revenue .......................................................... 750
3.
Prepare adjusting journal entries at December 31, the end of the year.
Advertising expense 600
Prepaid advertising 600
Insurance expense (2160/12*2) 360
Prepaid insurance 360
Unearned revenue 2,100
Service revenue 2,100
Consultant expense 900
Prepaid consultant 900
Unearned revenue 3,000
Service revenue 3,000
4.
1. $388,400 2. $22,520
3. $366,600
4. $21,800
5.
1. net loss for the year ended June 30, 2002: $60,000
2. DR Jon Nissen, Capital 60,000
CR income summary 60,000
3. post-closing balance in Jon Nissen, Capital at June 30, 2002: $54,000
Chapter 3
1. Dundee Realty bank reconciliation
October 31, 2009
Reconciled balance $6,220 Reconciled balance $6,220
2. April 7 Dr: Notes receivable—A company 5400
Cr: Accounts receivable—A company 5400
12 Dr: Cash 5394.5
Interest expense 5.5
Cr: Notes receivable 5400
June 6 Dr: Accounts receivable—A company 5533
Cr: Cash 5533
18 Dr: Cash 5560.7
Cr: Accounts receivable—A company 5533
Interest revenue 27.7
3. (a) As a whole: the ending inventory=685
(b) applied separately to each product: the ending inventory=625
4. The cost of goods available for sale=ending inventory + the cost of
goods=80,000+200,000*500%=80,000+1,000,000=1,080,000
5.(1) 24,000+60,000-90,000*0.8=12000
(2) (60,000+24,000)/( 85,000+31,000)*( 85,000+31,000-90,000)=18828
Chapter 4
1. (a) second-year depreciation = (114,000 – 5,700) / 5 = 21,660;
(b) second-year depreciation = 8,600 * (114,000 – 5,700) / 36,100 = 25,800;
(c) first-year depreciation = 114,000 * 40% = 45,600
second-year depreciation = (114,000 – 45,600) * 40% = 27,360;
(d) second-year depreciation = (114,000 – 5,700) * 4/15 = 28,880.
2. (a) weighted-average accumulated expenditures (2008) = 75,000 * 12/12 + 84,000 *
9/12 + 180,000 * 8/12 + 300,000 * 7/12 + 100,000 * 6/12 = 483,000
(b) interest capitalized during 2008 = 60,000 * 12% + ( 483,000 – 60,000) * 10%
=49,500
3. (1) depreciation expense = 30,000
(2) book value = 600,000 – 30,000 * 2=540,000
(3) depreciation expense = ( 600,000 – 30,000 * 8)/16 =22,500
(4) book value = 600,000 – 30,000 * 8 – 22,500 = 337,500
