《财会专业英语》期末试卷及答案

1《财会专业英语》期终试卷I.Putthefollowingintocorrespondinggroups.(15points)1.Cashonhand2.Notesreceivable3.Advancestosuppliers4.Otherreceivables5.Short-termloans6.Intangibleassets7.Costofproduction8.Currentyearprofit9.Capitalreserve10.Long-termloans11.Otherpayables12.Con-operatingexpenses13.Financialexpenses14.Costofsale15.AccruedpayrollAssetsLiabilitiesOwner’sequtiyCostProfitandlossII.Pleasefindthebestanswerstothefollowingquestions.(25Points)1.AftinCo.performsservicesonaccountwhenAftincollectstheaccountreceivableA.assetsincreaseB.assetsdonotchangeC.owner’sequitydecreasesD.liabilitiesdecrease2.Abalancesheetreport.A.theassets,liabilities,andowner’sequityonaparticulardateB.thechangeintheowner’scapitalduringtheperiodC.thecashreceiptandcashpaymentduringtheperiodD.thedifferencebetweenrevenuesandexpensesduringtheperiod3.Thefollowinginformationabouttheassetsandliabilitiesattheendof20x1and20x2isgivenbelow:20x120x2Assets$75,000$90,000Liabilities36,00045,000howmuchtheowner’sequityattheendof20x2?A.$4,500B.$6,000C.$45,000D.$43,0004.TraylorCompanypaid$2,850onaccount.Theeffectofthistransactionon2theaccountingequationisto.A.Decreaseassetsanddecreaseowner’sequityB.Increaseliabilitiesanddecreaseowner’sequityC.HavenoeffectontotalassetsD.Decreaseassetsanddecreaseliabilities5.Theentrytorecordthecollectionof$890fromacustomeronaccountis.A.Dr.AccountsPayable890Cr.Cash890B.Dr.Cash890Cr.AccountsReceivable890C.Dr.Cash890Cr.AccountPayable890D.Dr.Cash890Cr.ServiceRevenue8906.TheendingCashaccountbalanceis$57,600.Duringtheperiod,cashreceiptsequal$124,300.Ifthecashpaymentsduringtheperiodtotal$135,100,thenthebeginningCashamountmusthaveA.$68,400B.$46,800C.$181,900D.annotbedeterminedfromtheinformationgiven7.UsethefollowingselectedinformationfortheAleciaCompanytocalculatethecorrectcreditcolumntotalforatrialbalance.Accountsreceivable$7,200Accountspayable$6,900Building$179,400Cash$15,800Capital$64,000Insuranceexpense$6,500Salaryexpense$56,1003Salarypayable$3,600Servicerevenue$190,500A.$201,000B.$137,100C.$265,000D.$74,5008.ABCpaid$500forinventoriesincash,andpurchasedadditionalinventoriesonaccountfor$700inthemonth.Attheendofthemonth,ABCpaid$300oftheaccountpayable.whatisthebalanceintheinventoryiesaccount?A$500B.$900C.$1,200D.$1,5009.ThedebitsideofanaccountisusedtorecordA.increasesB.decreasesC.increasesordecreases,dependingonthetypeofaccountD.decline10.ABC,begantheyearwithtotalassetsof$120,000,liabilitiesof$70,000,andowner’sequityof$50,000.duringtheyearABCearnedrevenueof$110,000andpaidespensesof$30,000.andalsoinvenstedanadditional$20,000inthebusiness.howmuchistheowner’sequityattheendoftheyear?A.$150,000B.$180,000C.$190,000D.$220,00011．Whichofthefollowingistrue?__________.A.Owners’Equity-Assets=LiabilitiesB.Assets–Owners’Equity=LiabilitiesC.Assets+Liabilities=Owners’EquityD.Liabilities=Owners’Equity+Assets412．Whichoftheseisanexampleofanliabilityaccount?_____________.A.ServiceRevenueB.CashC.AccountsReceivableD.Short-termloans13．Whichofthefollowingisacorrectstatementoftherulesofdebitandcredit?______.A.DebitsincreaseassetsanddecreaseliabilitiesB.Debitsincreaseassetsandincreaseowners’equityC.CreditsdecreaseassetsanddecreaseliabilitiesD.Creditsincreaseassetsandincreaseowners’equity14．Ifearningshaven’tbeendistributedasdividends,itshouldhavebeenretainedinthecompany.Thenameofthisportionofnumberlistedinthebalancesheetis____________.A.paid-incapitalB.retainedearningsC.dividendD.cash15．Pleaseselectthecomponentswhichshouldbedeductedfromtheoriginalvalueofplantassetswhenwecomputetheirnetvalue_______.A.MerchandiseinventoryB.IncometaxpayableC.AccumulateddepreciationD.Retainedearnings16．Whichofthefollowingwouldnotbeincludedonabalancesheet?A.Accountsreceivable.B.Accountspayable.C.Sales.D.Cash.17.Remingtonprovidedthefollowinginformationaboutitsbalancesheet:Cash$100Accountsreceivable500Stockholders'equity700Accountspayable200Short-termloans1,000Basedontheinformationprovided,howmuchareRemington'sliabilities?A.$200.B.$900.C.$1,200.D.$1,700.18.Geraldhadbeginningtotalstockholders'equityof$160,000.Duringthe5year,totalassetsincreasedby$240,000andtotalliabilitiesincreasedby$120,000.Gerald'snetincomewas$180,000.Noadditionalinvestmentsweremade;however,dividendsdidoccurduringtheyear.Howmuchwerethedividends?A.$20,000.B.$60,000.C.$140,000.D.$220,000.19.Iftheassetsofabusinessare$162,600andtheliabilitiesare$86,000,howmuchistheowner’sequity?A..$76,600B.$248,600.C.$147,000.D.$250,000.20.AftinCo.purchasesonaccountwhenAftinpaytheaccountpayableA.assetsincreaseB.assetsdonotchangeC.owner’sequitydecreasesD.liabilitiesdecrease21.Aincomestatementreports.A.theassets,liabilities,andowner’sequityonaparticulardateB.thechangeintheowner’scapitalduringtheperiodC.thecashreceiptandcashpaymentduringtheperiodD.thedifferencebetweenrevenuesandexpensesduringtheperiod22.Thefollowinginformationabouttheassetsandliabilitiesattheendof20x1and20x2isgivenbelow:20x120x2Assets$75,000$90,000Liabilities36,00045,000Ifnetincomein20x2was$1,500andtherewerenowithdrawals,howmuchdidtheownerinvest?A.$4,500B.$6,000C.$45,000D.$43,00023.T