江西财大国际学院会原期中复习题题选

会原期中复习题PartI.MultipleChoice1.Externalusersoffinancialaccountinginformationincludeallofthefollowingexcept:A.InvestorsB.LaborunionsC.LinemanagersD.GeneralpublicAnswer：C2.Atrialbalancehastotaldebitsof$20,000andtotalcreditsof$24,500.Whichoneofthefollowingerrorswouldcreatethisimbalance?A.A$2,250debittoRentExpenseinajournalentryisincorrectlypostedtotheledgerasa$2,250credit,leavingtheRentExpenseaccountwitha$3,000debitbalance.B.A$4,500debittoSalariesExpenseinajournalentryisincorrectlypostedtotheledgerasa$4,500credit,leavingtheSalariesExpenseaccountwitha$750debitbalance.C.A$2,250credittoConsultingFeesEarnedinajournalentryisincorrectlypostedtotheledgerasa$2,250debit,leavingtheConsultingFeesEarnedaccountwitha$6,300creditbalance.Answer：A3.AmaliaCompanyreceiveditsutilitybillforthecurrentperiodof$700andimmediatelypaidit.Itsjournalentrytorecordthistransactionincludesaa.CredittoUtilityExpensefor$700.b.DebittoUtilityExpensefor$700.c.DebittoAccountsPayablefor$700.d.DebittoCashfor$700.e.CredittoCapitalfor$700.Answer:B4.Overlandpurchased$3,000ofmerchandisefromOverseas.Thecredittermswere2/10,n/30.ThefreighttermswereFOBshippingpoint.Freightcostsof$60wereincludedintheinvoice.WhatjournalentryshouldOverlandrecord,assumingOverlandusesaperpetualinventorysystem?A.MerchandiseInventory,debit,$3,000;deliveryexpense,debit,$60;AccountsPayable,credit,$3,060B.MerchandiseInventory,debit,$3,000;AccountsPayable,credit,$3,000C.MerchandiseInventory,debit,$2,940;AccountsPayable,credit,$2,940D.MerchandiseInventory,debit,$3,060;andAccountsPayable,credit,$3,060.Answer:D5.Acompany’sendinginventoryincludesthefollowingitems:ProductUnitsonHandUnitCostMarketvalueperunitA20$6$3B50$5$8C10$10$15Appliedseparatelytoeachproduct,theinventory’slowerofcostormarketamountis:A.$520B.$410C.$670D.$600E.NoneoftheaboveAnswer；B6．Ifthepettycashfundisnotreplenishedattheendoftheaccountingperiod,whichwillnotbetrue?A.NetincomewillbeoverstatedornetlosswillbeunderstatedB.LiabilitieswillbeoverstatedonthebalancesheetC.ThecashforthefirmwillbeoverstatedD.TheexpenseswillbeunderstatedE.TheincomestatementandthebalancesheetwillnotbecorrectAnswer:B7.Acompanyneedstoreplenishits$500pettycashfund.Itspettycashboxhas$75cashandpettycashreceiptsof$420.Thejournalentrytoreplenishthefundincludesa.AdebittoCashfor$75.b.AcredittoCashfor$75.c.AcredittoPettyCashfor$420.d.AcredittoCashOverandShortfor$5.e.AdebittoCashOverandShortfor$5Answer:E8.Accordingtotherulesofdebitandcreditforbalancesheetaccounts:A.Increasesinasset,liabilityandowners’equityaccountsarerecordedbydebitsB.Decreaseinassetandliabilityaccountsarerecordedbycredits.C.Increasesinassetandowners’equityaccountsarerecordedbydebits.D.Decreaseinliabilityandowners’equityaccountsarerecordedbydebits.Answer:D9.Whichofthefollowingisprovidedbyatrialbalanceinwhichtotaldebitsequaltotalcredits:A.Proofthatnotransactionwascompletelyomittedfromtheledgerduringthepostingprocess.B.ProofthatthecorrectdebitorcreditbalancehasbeencomputedforeachaccountC.ProofthattheledgerisinbalanceD.Proofthattransactionshavebeencorrectlyanalyzedandrecordedintheproperaccount.Answer:C10.TheCPAfirmauditingMasonStreetRecordingStudiosfoundthattotalstockholders’equitywasunderstatedandliabilitieswereoverstated.Whichofthefollowingerrorscouldhavebeenthecause:A.Failuretorecordtheearnedportionoffeesreceivedinadvance.B.Makingtheadjustmententryfordepreciationexpensetwice.C.Failuretorecordinterestaccruedonanotepayable.D.FailuretomaketheadjustingentrytorecordrevenuethathadbeenearnedbutnotyetbilledtoclientsAnswer:A11.Whichofthefollowingtypesofinformationisn’tfoundinsubsidiaryledger,butinthegeneralledger?A.TotalcostofgoodssoldfortheperiodB.ThequantityofaparticularproductsoldduringtheperiodC.ThedollaramountowedtoaparticularcreditorD.ThedollaramountpayabletoavendorAnswer:A12.FashionHouseusesaperpetualinventorysystem.Atthebeginningoftheyear,inventoryamountedto$50,000.Duringtheyear,thecompanypurchasedmerchandisefor$230,000,andsoldmerchandisecosting$245,000.Aphysicalinventorytakenatyear-endindicatedshrinkagelossesof$4,000.Priortorecordingtheseshrinkagelosses,theyear-endbalanceinthecompany’sInventoryaccountwas:A.$31,000B.$35,000C.$50,000D.SomeotheramountAnswer:B13.T-ShirtCityusesaperiodicinventorysystem.Duringthefirstyearofoperations,thecompanymadefourpurchasesofaparticularproduct.Eachpurchasewasfor500unitsandthepricespaidwere$9perunitinthefirstpurchase,$10perunitinthesecondpurchase,$12perunitinthethirdpurchase,and$13perunitinthefourthpurchase.Atyearend,650oftheseunitsremainedunsold.ComputethecostofgoodsoldundertheFIFOmethodandLIFOmethodrespectively:A.$13,700(FIFO)and$16,000(LIFO)B.$8,300(FIFO)and$6,000(LIFO)C.$16,000(FIFO)and$13,700(LIFO)D.$6,000(FIFO)and$8,300(LIFO)Answer:A14.Examplesofthesourcedocumentsusedinaccountingare:A.JournalsandledgersB.IncomestatementandbalancesheetC.ExternaltransactionsandinternaltransactionsD.BankstatementandsalesslipsE.AlloftheaboveAnswer:D15.Relatedtotheprocessofpreparingclosingentries:A.Expenses,revenues,andwithdrawalsaccountareclosedtoIncomeSummary.B.Allexpenseaccountsare