会计专业英语模拟题开卷.doc

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1、会计专业英语模拟题补1plete the translation between Chinese and English: 1salvage value2depreciation3ratio analysis4所有者权益5fiscal year6uncollectible accounts7double entry system8petty cash9流动资产10gross profit11first in first out12资产负债表13mon-size analysis14corporations15经济业务16short-term debt-paying ability2Label

2、the following accounts as asset (A), liability (L), owners equity (OE), revenues (R) or expense (E) 1Office Supplies2Professional Fees3Prepaid Insurance4Salary expense5Accounts Payable6Service Ine7R. L. Osborn, Capital8Rent Expense9Accounts Receivable10Notes payable3. Answer the question related to

3、the topic of the conversation Why Isnt The Accounting A Mirror of What Happened?John: Leanne, can you explain whats going on here with these monthly statements?Leanne: Sure, John. How can I help you?John: I dont understand this lastin, firstout inventory procedure. It just doesnt make sense.Leanne:

4、Well, what it means is that we assume that the last goods we receive are the first ones sold. So the inventory is made up of the items we purchased first. John: Yes, but thats my problem. It doesnt work that way! We always distribute the oldest produce first.Some of that produce is perishable! We ca

5、nt keep any of it very long or itll spoil.Leanne: John, you dont understand. We only assume that the products we distribute are the last ones received. We dont actually have to distribute the goods in this way.John: I always thought that accounting was supposed to show what really happened. It all s

6、ounds like “make believe to me! Why not report what really happens?Question:How would you respond to John if you were Leanne?4. Casey Electronics ending inventory consists of 182 Model M43 CD players acquired through various purchases, as follows:Specific Purchase Number of Units Cost per Unit Total

7、 CostBeginning inventory 34 $270 $9180First purchase 60 282 16,920Second purchase 256 298 76,288Third purchase 164 312 51,168Total units available 514$153,556Of the 514 units available for sale, 182 units are still on hand and 332 have been sold.Under the periodic inventory system, If Casey Electron

8、ics chooses LIFO method, how should it calculate the cost of the 182 CD players on hand? 5. You are given the following balance sheet and ine statement for 2002 and 2003: Table A Balance Sheet for 2002 and 2003(all values in thousands of dollars) 2002 2003_Assets Cash 200 300 Marketable securities 3

9、00 200 Receivables. 800 1,000 Inventory 1,200 1,000 Fixed assets 3,300 3,700Total assets. 5,800 6,200 Liabilities and mon equityAccounts payable 300 200 Notes payable 200 300 Other current liabilities 1,000 800 Long-term debt 1,000 1,200 mon equity . 3,300 3,700 Total liabilities and mon equity 5,80

10、0 6,200 Table B Ine Statement for 2003_ Sales $1,000,000 Operating and other costs - 700,000 EBIT . 300,000 Interest . - 100,000 Profits before taxes 200,000 Tax at 40% rate - 80,000 Profits after taxes 120,000 _Calculate the following ratios for 2002: (1) the current ratio(2) the debt to equity rat

11、io(3) the quick ratio6Translate the followings into Chinese There are several specialized fields of accounting in practice. The two most mon are financial accounting and management accounting. Other fields include cost accounting, environmental accounting, tax accounting, international accounting, n

12、ot-for-profit accounting, and social accounting.7Choose the best answer from A, B, C, D to plete the sentence or to answer the question: 1Which of these is (are) an example of an asset account? _.A. Service RevenueB. WithdrawalsC. SuppliesD. All of the above2Which of the following is not affected by

13、 the inventory valuation method used by a business? _.A. Amounts owed for ine taxesB. Cost of merchandise soldC. Amounts paid to acquire merchandiseD. Net ine of the business3Aftin Co. performs services on account, when Aftin collects the account receivable_.A. assets increaseB. assets do not change

14、C. owners equity decreasesD. liabilities decrease8Casey Electronics ending inventory consists of 182 Model M43 CD players acquired through various purchases, as follows:Specific PurchaseNumber of UnitsCost per UnitTotal CostBeginning inventory34$270$9180First purchase6028216,920Second purchase256298

15、76,288Third purchase16431251,168Total units available514$153,556Of the 514 units available for sale, 182 units are still on hand and 332 have been sold.Under the periodic inventory system, If Casey Electronics chooses FIFO method, how should it calculate the cost of the 182 CD players on hand? 9On J

16、uly 1, Cruz opened Cruz Auto Detail pany . During July, the following transactions were pleted:1Cruz invests $70,000 cash in her new business.2Buys equipment costing $43,000, paying cash.3Buys equipment costing $7,000 on credit from Williams Auto Supply.4Pays $2,000 to Williams Auto Supply, to be ap

17、plied against the firms liability of $7,000.5Buys buffer pads, cleaners, and waxes on account from Rossi and pany, $800.6Cash revenue received, $3,520.7Pays rent for the month, $900.8Pays for a one-year vehicle insurance policy, $360.9Receives bill for newspaper advertising from Valley News, $400.10

18、Cruz Auto Detail signed a contract with Costello Taxi to perform detailing work and then bills Costello Taxi $1,050 for services performed.11Pays $2,000 to Williams Auto Supply as part payment on account.12Receives and pays bill for utilities from Midwest Power, Inc., $160.13Pays Valley News for adv

19、ertising, $400 in full. (This bill has been previously recorded.)14Pays wages of part-time employees, $1,400.15Buys additional equipment costing $1,500 from Williams Auto Supply, paying $600 down with the remaining $900 on account.16Receives $850 from Costello Taxi to apply on account previously bil

20、led.17Cash revenue received, $2,700.18Cruz withdraws cash for personal use, $3,000.Instructions1Record the transactions with “Dr.and “Cr. 2At the end of June pany needs make adjustment as follows:a. To record the cost of supplies used during July, $540.b. To record the insurance expired during July,

21、 $30.c. To record the depreciation for the month of July, $520.d. To record accrued waged owed at the end of July, $290.Prepare Adjusted Trail Balance on July 31.Cruz Auto Detail Adjusted Trail Balance July 31, 20- Account Name Debit Credit Cash Account Received Supplies Prepaid Insurance Equipment

22、Accumulated Depreciation Equipment Accounts Payable Wages Payable LA Cruz Capital LA Cruz Drawing Ine from Servicing Wages Expense Rent Expense Advertising Expense Utilities Expense Supplies Expense Insurance Expense Depreciation Expense, Equipment10. On July 1, N. B. Edgar opened Coin-Op Laundry. E

23、dgars accountant listed the following chart of accounts:Cash Supplies Prepaid Insurance EquipmentFurniture and Fixtures Accounts PayableN. B. Edgar, Capital N. B. Edgar, Drawing Laundry Revenue Wages Expense Rent Expense Utilities Expense Miscellaneous ExpenseDuring July, the following transactions

24、were pleted:a. Edgar deposited $20,000 in a bank account in the name of the business.b. Bought tables and chairs for cash, $450c. Paid the rent for the current month, $705d. Bought washers and dryers from Eldon Equipment, $17,400, paying $4,000 in cash and placing the balance on account.e. Bought la

25、undry supplies on account from Borkal Distributors, $410.f. Sold services for cash, $862.g. Bought insurance for one year, $468.h. Paid on account to Eldon Equipment, a creditor, $550.i. Received and paid the electric bill, $118.j. Paid on account to Borkal Distributors, a creditor, $145.k. Sold ser

26、vices to customers for cash for the second half of the month, $881.l. Received and paid the bill for the business license, $45.m. Paid wages to an employee, $1,146.n. Edgar withdrew cash for personal use, $875.InstructionsRecord the transactions in the T accounts. Prepare an ine statement as for Jul

27、y 31.1plete the translation between Chinese and English: 1残值2折旧3比率分析法4owners equity5会计年度6坏账7复式记账8备用金9current assets10毛利11先进先出法12balance sheet13结构分析法14集团公司15transaction16短期偿债能力2Label the following accounts as asset (A), liability (L), owners equity (OE), revenues (R) or expense (E) 12345678910ARAELRO

28、EEAL3. Answer the question related to the topic of the conversation Answer in English the question related to the topic of the conversation In inventory accounting, we need pute the amounts of cost for good sold and ending inventory. However, the inventory of some firms is sufficiently similar that

29、the firm cant feasibly use specific identification costs. So it must make some assumption to pute the cost of units sold and units remained in inventory, which is called cost flow assumptions, and one of them is LIFO. LIFO usually doesnt reflect physical floes, but firms use it since in a period of

30、rising acquisition costs. LIFOs higher (than FIFO) cost-of-goods-sold figure reduces reported ine and ine taxes. 4. Casey Electronics ending inventory consists of 182 Model M43 CD players acquired through various purchases, as follows: 34 Units(beginning inventory) $270 each = $9180 . 60 Units(first

31、 purchase) $282 each = 16920 . 88 Units(second purchase) $298 each = 26224182 Units $523245. You are given the following balance sheet and ine statement for 2002 and 2003 (1) current ratio = current assets / current liabilities (2) debt to equity ratio = total liabilities / total stockholders equity

32、 = 2,500/3,300 = 75.76% (3) quick ratio = (current assets inventories) / current liabilities6. Translate the followings into Chinese 在实务中，会计有不同的分类。最通常的是财务会计和管理会计。其他领域包括本钱会计，环境会计，税务会计，国际会计，非盈利会计和社会会计。7Choose the best answer from A, B, C, D to plete the sentence or to answer the question: 1C 2C 3B 8Ca

33、sey Electronics ending inventory consists of 182 Model M43 CD players acquired through various purchases, as follows:164 Units $312 each = $51168 . 18 Units $298 each = $5364 182 Units $565329On July 1, Cruz opened Cruz Auto Detail pany . (1) Record the transactions with “Dr.and “Cr. 1. Cash 70,000L

34、.A. Cruz, Capital 70,0002. Equipment 43,000Cash 43,0003. Equipment 7,000Accounts Payable 7,0004. Accounts Payable 2,000Cash 2,0005. Supplies 8,000Accounts Payable 8,0006. Cash 3,520Ine from Service 3,5207. Rent Expense 900Cash 9008. Prepaid Insurance 360 Cash 3609. Advertising Expense 400Accounts Pa

35、yable 40010. Accounts Receivable 1,050Ine from Services 1,05011. Accounts Payable 2,000Cash 2,00012. Utilities Expense 160Cash 16013. Accounts Payable 400Cash 40014. Wages Expense 1,400Cash 1,40015. Equipment 1,500Cash 60016. Cash 850Accounts Receivable 85017. Cash 2,700Ine from Service 2,70018. L.A

36、. Cruz, Drawing 3,000Cash 3,000(2)Prepare Adjusted Trail Balance on July 31.Cruz Auto Detail Adjusted Trail Balance July 31, 20- Account Name Debit Credit Cash 23,250 Account Received 200 Supplies 260 Prepaid Insurance 330 Equipment 51,500 Accumulated Depreciation Equipment 520 Accounts Payable 4,70

37、0 Wages Payable 290 LA Cruz Capital 70,000 LA Cruz Drawing 3,000 Ine from Servicing 7,270 Wages Expense 1,690 Rent Expense 900 Advertising Expense 400 Utilities Expense 160 Supplies Expense 540 Insurance Expense 30 Depreciation Expense, Equipment 520 82,780 82,78010. On July 1, N. B. Edgar opened Coin-Op Laundry. Edgars accountant listed the following chart of accounts: Cash a 2000f 862k 881Bal: 13241b 450c 705d 4,000g 468h 550i 118j 145l 45m 1146n 875 NB Capitala 20000Furniture Rent expense equipment And Fixturesb 450 c 705