会计专业英语模拟题开卷.docx
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会计专业英语模拟题开卷.docx
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会计专业英语模拟题开卷
《会计专业英语》模拟题(补)
1.CompletethetranslationbetweenChineseandEnglish:
(1)salvagevalue
(2)depreciation
(3)ratioanalysis
(4)所有者权益
(5)fiscalyear
(6)uncollectibleaccounts
(7)doubleentrysystem
(8)pettycash
(9)流动资产
(10)grossprofit
(11)firstinfirstout
(12)资产负债表
(13)common-sizeanalysis
(14)corporations
(15)经济业务
(16)short-termdebt-payingability
2.Labelthefollowingaccountsasasset(A),liability(L),owner’sequity(OE),revenues(R)orexpense(E)
(1)OfficeSupplies
(2)ProfessionalFees
(3)PrepaidInsurance
(4)Salaryexpense
(5)AccountsPayable
(6)ServiceIncome
(7)R.L.Osborn,Capital
(8)RentExpense
(9)AccountsReceivable
(10)Notespayable
3.Answerthequestionrelatedtothetopicoftheconversation
WhyIsn’tTheAccountingAMirrorofWhatHappened?
John:
Leanne,canyouexplainwhat’sgoingonherewiththesemonthlystatements?
Leanne:
Sure,John.HowcanIhelpyou?
John:
Idon’tunderstandthislast–in,first–outinventoryprocedure.Itjustdoesn’tmakesense.
Leanne:
Well,whatitmeansisthatweassumethatthelastgoodswereceivearethefirstonessold.Sotheinventoryismadeupoftheitemswepurchasedfirst.
John:
Yes,butthat’smyproblem.Itdoesn’tworkthatway!
Wealwaysdistributetheoldestproducefirst.Someofthatproduceisperishable!
Wecan’tkeepanyofitverylongorit’llspoil.
Leanne:
John,youdon’tunderstand.Weonlyassumethattheproductswedistributearethelastonesreceived.Wedon’tactuallyhavetodistributethegoodsinthisway.
John:
Ialwaysthoughtthataccountingwassupposedtoshowwhatreallyhappened.Itallsoundslike“makebelieve”tome!
Whynotreportwhatreallyhappens?
Question:
HowwouldyourespondtoJohnifyouwereLeanne?
4.CaseyElectronics’endinginventoryconsistsof182ModelM43CDplayersacquiredthroughvariouspurchases,asfollows:
SpecificPurchaseNumberofUnitsCostperUnitTotalCost
Beginninginventory34$270$9180
Firstpurchase6028216,920
Secondpurchase25629876,288
Thirdpurchase16431251,168
Totalunitsavailable514$153,556
Ofthe514unitsavailableforsale,182unitsarestillonhandand332havebeensold.
Undertheperiodicinventorysystem,IfCaseyElectronicschoosesLIFOmethod,howshoulditcalculatethecostofthe182CDplayersonhand?
5.Youaregiventhefollowingbalancesheetandincomestatementfor2002and2003:
TableABalanceSheetfor2002and2003
(allvaluesinthousandsofdollars)
20022003
_______________________________________________________________
Assets
Cash200300
Marketablesecurities300200
Receivables.8001,000
Inventory1,2001,000
Fixedassets3,3003,700
Totalassets.5,8006,200
Liabilitiesandcommonequity
Accountspayable300200
Notespayable200300
Othercurrentliabilities1,000800
Long-termdebt1,0001,200
Commonequity.3,3003,700
Totalliabilitiesandcommonequity5,8006,200
TableBIncomeStatementfor2003
__________________________________________________
Sales$1,000,000
Operatingandothercosts-700,000
EBIT.300,000
Interest.-100,000
Profitsbeforetaxes200,000
Taxat40%rate-80,000
Profitsaftertaxes120,000
____________________________________________________
Calculatethefollowingratiosfor2002:
(1)thecurrentratio
(2)thedebttoequityratio
(3)thequickratio
6.TranslatethefollowingsintoChinese
Thereareseveralspecializedfieldsofaccountinginpractice.Thetwomostcommonarefinancialaccountingandmanagementaccounting.Otherfieldsincludecostaccounting,environmentalaccounting,taxaccounting,internationalaccounting,not-for-profitaccounting,andsocialaccounting.
7.ChoosethebestanswerfromA,B,C,Dtocompletethesentenceortoanswerthequestion:
(1)Whichoftheseis(are)anexampleofanassetaccount?
____.
A.ServiceRevenue
B.Withdrawals
C.Supplies
D.Alloftheabove
(2)Whichofthefollowingisnotaffectedbytheinventoryvaluationmethodusedbyabusiness?
_____.
A.Amountsowedforincometaxes
B.Costofmerchandisesold
C.Amountspaidtoacquiremerchandise
D.Netincomeofthebusiness
(3)AftinCo.performsservicesonaccount,whenAftincollectstheaccountreceivable____.
A.assetsincrease
B.assetsdonotchange
C.owner’sequitydecreases
D.liabilitiesdecrease
8.CaseyElectronics’endinginventoryconsistsof182ModelM43CDplayersacquiredthroughvariouspurchases,asfollows:
SpecificPurchase
NumberofUnits
CostperUnit
TotalCost
Beginninginventory
34
$270
$9180
Firstpurchase
60
282
16,920
Secondpurchase
256
298
76,288
Thirdpurchase
164
312
51,168
Totalunitsavailable
514
$153,556
Ofthe514unitsavailableforsale,182unitsarestillonhandand332havebeensold.
Undertheperiodicinventorysystem,IfCaseyElectronicschoosesFIFOmethod,howshoulditcalculatethecostofthe182CDplayersonhand?
9.OnJuly1,CruzopenedCruzAutoDetailcompany.
DuringJuly,thefollowingtransactionswerecompleted:
(1)Cruzinvests$70,000cashinhernewbusiness.
(2)Buysequipmentcosting$43,000,payingcash.
(3)Buysequipmentcosting$7,000oncreditfromWilliamsAutoSupply.
(4)Pays$2,000toWilliamsAutoSupply,tobeappliedagainstthefirm'sliabilityof$7,000.
(5)Buysbufferpads,cleaners,andwaxesonaccountfromRossiandCompany,$800.
(6)Cashrevenuereceived,$3,520.
(7)Paysrentforthemonth,$900.
(8)Paysforaone-yearvehicleinsurancepolicy,$360.
(9)ReceivesbillfornewspaperadvertisingfromValleyNews,$400.
(10)CruzAutoDetailsignedacontractwithCostelloTaxitoperformdetailingworkandthenbillsCostelloTaxi$1,050forservicesperformed.
(11)Pays$2,000toWilliamsAutoSupplyaspartpaymentonaccount.
(12)ReceivesandpaysbillforutilitiesfromMidwestPower,Inc.,$160.
(13)PaysValleyNewsforadvertising,$400infull.(Thisbillhasbeenpreviouslyrecorded.)
(14)Payswagesofpart-timeemployees,$1,400.
(15)Buysadditionalequipmentcosting$1,500fromWilliamsAutoSupply,paying$600downwiththeremaining$900onaccount.
(16)Receives$850fromCostelloTaxitoapplyonaccountpreviouslybilled.
(17)Cashrevenuereceived,$2,700.
(18)Cruzwithdrawscashforpersonaluse,$3,000.
Instructions
(1)Recordthetransactionswith“Dr.”and“Cr.”.
(2)AttheendofJuneCompanyneedsmakeadjustmentasfollows:
a.TorecordthecostofsuppliesusedduringJuly,$540.
b.TorecordtheinsuranceexpiredduringJuly,$30.
c.TorecordthedepreciationforthemonthofJuly,$520.
d.TorecordaccruedwagedowedattheendofJuly,$290.
PrepareAdjustedTrailBalanceonJuly31.
CruzAutoDetail
AdjustedTrailBalance
July31,20--
AccountName
Debit
Credit
Cash
AccountReceived
Supplies
PrepaidInsurance
Equipment
AccumulatedDepreciationEquipment
AccountsPayable
WagesPayable
LACruzCapital
LACruzDrawing
IncomefromServicing
WagesExpense
RentExpense
AdvertisingExpense
UtilitiesExpense
SuppliesExpense
InsuranceExpense
DepreciationExpense,Equipment
10.OnJuly1,N.B.EdgaropenedCoin-OpLaundry.Edgar’saccountantlistedthefollowingchartofaccounts:
CashSuppliesPrepaidInsuranceEquipment
FurnitureandFixturesAccountsPayable
N.B.Edgar,CapitalN.B.Edgar,Drawing
LaundryRevenueWagesExpense
RentExpenseUtilitiesExpenseMiscellaneousExpense
DuringJuly,thefollowingtransactionswerecompleted:
a.Edgardeposited$20,000inabankaccountinthenameofthebusiness.
b.Boughttablesandchairsforcash,$450
c.Paidtherentforthecurrentmonth,$705
d.BoughtwashersanddryersfromEldonEquipment,$17,400,paying$4,000incashandplacingthebalanceonaccount.
e.BoughtlaundrysuppliesonaccountfromBorkalDistributors,$410.
f.Soldservicesforcash,$862.
g.Boughtinsuranceforoneyear,$468.
h.PaidonaccounttoEldonEquipment,acreditor,$550.
i.Receivedandpaidtheelectricbill,$118.
j.PaidonaccounttoBorkalDistributors,acreditor,$145.
k.Soldservicestocustomersforcashforthesecondhalfofthemonth,$881.
l.Receivedandpaidthebillforthebusinesslicense,$45.
m.Paidwagestoanemployee,$1,146.
n.Edgarwithdrewcashforpersonaluse,$875.
Instructions
RecordthetransactionsintheTaccounts.
PrepareanincomestatementasforJuly31.
1.CompletethetranslationbetweenChineseandEnglish:
(1)残值
(2)折旧
(3)比率分析法
(4)owner’sequity
(5)会计年度
(6)坏账
(7)复式记账
(8)备用金
(9)currentassets
(10)毛利
(11)先进先出法
(12)balancesheet
(13)结构分析法
(14)集团公司
(15)transaction
(16)短期偿债能力
2.Labelthefollowingaccountsasasset(A),liability(L),owner’sequity(OE),revenues(R)orexpense(E)
1
2
3
4
5
6
7
8
9
10
A
R
A
E
L
R
OE
E
A
L
3.Answerthequestionrelatedtothetopicoftheconversation
AnswerinEnglishthequestionrelatedtothetopicoftheconversation
Ininventoryaccounting,weneedcomputetheamountsofcostforgoodsoldandendinginventory.However,theinventoryofsomefirmsissufficientlysimilarthatthefirmcan’tfeasiblyusespecificidentificationcosts.Soitmustmakesomeassumptiontocomputethecostofunitssoldandunitsremainedininventory,whichiscalledcostflowassumptions,andoneofthemisLIFO.LIFOusuallydoesn’treflectphysicalfloes,butfirmsuseitsinceinaperiodofrisingacquisitioncosts.LIFO’shigher(thanFIFO)cost-of-goods-soldfigurereducesreportedincomeandincometaxes.
4.CaseyElectronics’endinginventoryconsistsof182ModelM43CDplayersacquiredthroughvarious
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