112学期期中考试试卷

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112学期《会计学原理》期中考试
(考试时间:9:00-11:20)(2小时20分钟)
PART I MULTIPLE CHOICE (32 POINTS)
1. The area of accounting aimed at serving the decision making needs of internal users is:
A. Financial accounting.
B. Managerial accounting.
C. External auditing.
D. SEC reporting.
E. Bookkeeping.

2. The accounting guideline that requires financial statement information to be supported by independent,
unbiased evidence other than someone's belief or opinion is the:
A. Business entity principle.
B. Monetary unit principle.
C. Going-concern principle.
D. Cost principle.
E. Objectivity principle.

3. A corporation:
A. Is a business legally separate from its owners.
B. Is controlled by the FASB.
C. Has shareholders who have unlimited liability for the acts of the corporation.
D. Is the same as a limited liability partnership.
E. All of these.

accounting assumption that requires every business to be accounted for separately from other
business entities, including its owner or owners is known as the:
A. Objectivity principle.
B. Business entity assumption.
C. Going-concern assumption.
D. Revenue recognition principle.
E. Cost principle.

5. A ledger is:
A. A record containing increases and decreases in a specific asset, liability, equity, revenue, or expense
item.
B. A journal in which transactions are first recorded.
C. A collection of documents that describe transactions and events entering the accounting process.
D. A list of all accounts with their debit balances at a point in time.
E. A record containing all accounts and their balances used by a company.

6. Which of the following statements is incorrect?
A. The normal balance of accounts receivable is a debit.
B. The normal balance of owner's withdrawals is a debit.
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C. The normal balance of unearned revenues is a credit.
D. The normal balance of an expense account is a credit.
E. The normal balance of the owner's capital account is a credit.

7. The following transactions occurred during July:
1) Received $$900 cash for services provided to a customer during July.
2) Received $$2,200 cash investment from Barbara Hanson, the owner of the business.
3) Received $$750 from a customer in partial payment of his account receivable which arose from sales
in June.
4) Provided services to a customer on credit, $$375.
5) Borrowed $$6,000 from the bank by signing a promissory note.
6) Received $$1,250 cash from a customer for services to be rendered next year.
What was the amount of revenue for July?

A. $$ 900. B. $$ 1,275. C. $$ 2,525. D. $$ 3,275. E. $$11,100.

8. If Tim Jones, the owner of Jones Hardware proprietorship, uses cash of the business to purchase a
family automobile, the business should record this use of cash with an entry to:
A. Debit Salary Expense and credit Cash.
B. Debit Tim Jones, Salary and credit Cash.
C. Debit Cash and credit Tim Jones, Withdrawals.
D. Debit Tim Jones, Withdrawals and credit Cash.
E. Debit Automobiles and credit Cash.

9. During the month of March, Cooley Computer Services made purchases on account totaling $$43,500.
Also during the month of March, Cooley was paid $$8,000 by a customer for services to be provided in the
future and paid $$36,900 of cash on its accounts payable balance. If the balance in the accounts payable
account at the beginning of March was $$77,300, what is the balance in accounts payable at the end of
March?
A. $$83,900. B. $$91,900. C. $$6,600. D. $$75,900. E. $$4,900.

10. The accrual basis of accounting:
A. Is generally accepted for external reporting because it is more useful than cash basis for most business
decisions.
B. Is flawed because it gives complete information about cash flows.
C. Recognizes revenues when received in cash.
D. Recognizes expenses when paid in cash.
E. Eliminates the need for adjusting entries at the end of each period.

11. Which of the following statements is incorrect?
A. Adjustments to prepaid expenses, depreciation, and unearned revenues involve previously recorded
assets and liabilities.
B. Accrued expenses and accrued revenues involve assets and liabilities that had not previously been
recorded.
C. Adjusting entries can be used to record both accrued expenses and accrued revenues.
D. Prepaid expenses, depreciation, and unearned revenues often require adjusting entries to record the
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effects of the passage of time.
E. Adjusting entries affect the cash account.

12. If a company mistakenly forgot to record depreciation on office equipment at the end of an accounting
period, the financial statements prepared at that time would show:
A. Assets overstated and equity understated.
B. Assets and equity both understated.
C. Assets overstated, net income understated, and equity overstated.
D. Assets, net income, and equity understated.
E. Assets, net income, and equity overstated.

13. Closing the temporary accounts at the end of each accounting period:
A. Serves to transfer the effects of these accounts to the owner's capital account on the balance sheet.
B. Prepares the withdrawals account for use in the next period.
C. Gives the revenue and expense accounts zero balances.
D. Causes owner's capital to reflect increases from revenues and decreases from expenses and
withdrawals.
E. All of these.

14. The usual order for the asset section of a classified balance sheet is:
A. Current assets, prepaid expenses, long-term investments, intangible d expense属于
current assets
B. Long-term investments, current assets, plant assets, intangible assets.
C. Current assets, long-term investments, plant assets, intangible assets.
D. Intangible assets, current assets, long-term investments, plant assets.
E. Plant assets, intangible assets, long-term investments, current assets.

15. A company purchased $$4,000 worth of merchandise. Transportation costs were an additional $$350.
The company later returned $$275 worth of merchandise and paid the invoice within the 2% cash discount
period. The total amount paid for this merchandise is:
A. $$3,725. B. $$3,925. C. $$3,995. D. $$4,000.50. E. $$4,075.

16. Which of the following inventory costing methods will always result in the same values for ending
inventory and cost of goods sold regardless of whether a perpetual or periodic inventory system is used?
A. FIFO and LIFO
B. LIFO and weighted-average cost
C. Specific identification and FIFO
D. FIFO and weighted- average cost
E. LIFO and specific identification

17. The conservatism constraint:
A. Requires that when multiple estimates of amounts to be received or paid in the future are equally likely,
then the least optimistic amount should be used.
B. Requires that a company use the same accounting methods period after period.
C. Requires that revenues and expenses be reported in the period in which they are earned or incurred.
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D. Requires that all items of a material nature be included in financial statements.
E. Requires that all inventory items be reported at full cost.

18. Assume that a company uses a sales journal, a purchases journal, a cash receipts journal, a cash
disbursements journal, and a general journal. A sales return for credit on account would be recorded in
the:
A. Sales journal.
B. General journal.
C. Cash receipts journal.
D. Accounts receivable ledger.
E. Cash disbursements journal.

19. A properly designed internal control system:
A. Lowers the company's risk of loss.
B. Insures profitable operations.
C. Eliminates the need for an audit.
D. Requires the use of non- computerized systems.
E. Is not necessary if the company uses a computerized system.

20. When two clerks share the same cash register it is a violation of which internal control principle?
A. Establish responsibilities.
B. Maintain adequate records.
C. Insure assets.
D. Bond key employees.
E. Apply technological controls.

21. After posting is completed, there may be an error if:
A. The sum of the customer account balances does not equal the total in the sales journal.
B. The sum of the accounts receivable ledger does not equal the balance in the Sales account.
C. The sum of the customer account balances does not equal the general ledger Accounts Receivable
controlling account balance.
D. The balance in the sales journal does not equal the Accounts Receivable account balance.
E. The sum of the accounts receivable ledger does not equal the balance in the sales journal.

22. Cash equivalents:
A. Include savings accounts.
B. Include checking accounts.
C. Are short-term investments sufficiently close to their maturity date that their value is not sensitive to
interest rate changes.
D. Include time deposits.
E. Have no immediate value.

23. When a petty cash fund is in use:
A. Expenses paid with petty cash are recorded when the fund is replenished.
B. Petty Cash is debited when funds are replenished.
C. Petty Cash is credited when funds are replenished.
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D. Expenses are not recorded.
E. Cash is debited when funds are replenished.

24. For which item does a bank NOT issue a debit memorandum?
A. To notify a depositor of all withdrawals through an ATM.
B. To notify a depositor of a fee assessed to the depositor's account.
C. To notify a depositor of a uncollectible check.
D. To notify a depositor of periodic payments arranged in advance, by a depositor.
E. To notify a depositor of a deposit to their account.

25. Martha Company has an established petty cash fund in the amount of $$500. The fund was last
reimbursed on November 30. At the end of December, the fund contained the following petty cash
receipts:



If, in addition to these receipts, the petty cash fund contains $$301 of cash, the journal entry to reimburse
the fund on December 31 will include:
A. A debit to Transportation-In of $$73.
B. A debit to Transportation-Out of $$73.
C. A credit to Office Supplies of $$66.
D. A credit to Cash Over and Short of $$10.
E. A debit to Cash Over and Short of $$10.


26. The following information is available for Holland Company at December 31:



Based on this information, Holland Company should report Cash and Cash Equivalents on December 31
of:
A. $$35,421 B. $$50,421 C. $$37,546 D. $$36,246 E. $$40,439


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27. Louise Company reported the following income statement information for Year 1 and Year 2:



The beginning inventory balance for Year 1 is correct. The ending inventory balance for Year 2 is also
correct. However, the ending inventory figure for Year 1 was overstated by $$20,000. Given this
information, the correct gross profit figures for Year 1 and Year 2 would be:
A. $$129,000 for Year 1 and $$256,000 for Year 2.
B. $$281,000 for Year 1 and $$274,000 for Year 2.
C. $$129,000 for Year 1 and $$276,000 for Year 2.
D. $$169,000 for Year 1 and $$236,000 for Year 2.
E. $$169,000 for Year 1 and $$276,000 for Year 2.

28. A company has the following per unit original costs and replacement costs for its inventory:

Part A: 50 units with a cost of $$5, and replacement cost of $$4.50
Part B: 75 units with a cost of $$6, and replacement cost of $$6.50
Part C: 160 units with a cost of $$3, and replacement cost of $$2.50

Under the lower of cost or market method, the total value of this company's ending inventory is:
A. $$1,180.00.
B. $$1,075.00.
C. $$1,075.00 or $$1,112.50, depending upon whether LCM is applied to individual items or the inventory
as a whole.
D. $$1,112.50.
E. $$1180.00 or $$1075.00, depending upon whether LCM is applied to individual items or to the inventory
as a whole.

Part II PROBLEMS (68 points)
Problem One (26 points)
Ceres Computer Sales uses the perpetual inventory system and had the following transactions during
December.
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Required:
Prepare the general journal entries to record these transactions.


Problem Two (10 points)
In general journal form, record the December 31 adjusting entries for the following transactions and
events. Assume that December 31 is the end of the annual accounting period.
a. The Prepaid Insurance account shows a debit balance of $$2,340, representing the cost of a three-year
fire insurance policy that was purchased on October 1 of the current year.
b. The Office Supplies account has a debit balance of $$400; a year-end inventory count reveals $$80 of
supplies still on hand.
c. On November 1 of the current year, Rent Earned was credited for $$1,500. This amount represented the
rent earned for a three-month period beginning November 1.
d. Estimated depreciation on office equipment is $$600.
e. Accrued salaries amount to $$400.

Problem Three(12 points)
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Following is the year-end adjusted trial balance for Yakima's Sporting Goods for the current year:

Required


Prepare the closing entries at December 31 for the current year.


Problem Four(20 points)
Brown Company's bank statement for September 30 showed a cash balance of $$1,350. The company's
Cash account in its general ledger showed a $$995 debit balance. The following information was also
available as of September 30.

a. A $$125 debit memoranda is included with the bank statement and dealt with a customer's check for
$$100 marked NSF and returned to Brown Company by the bank. In addition, the bank charged the
company's a $$25 processing fee.
b. The September 30 cash receipts, $$1,250, were placed in the bank's night depository after banking hours
on that date and this amount did not appear on the September 30 bank statement.
c. A $$15 debit memorandum for checks printed by the September 30 bank was included with the canceled
checks.
d. Outstanding checks amounted to $$1,145.
e. A customer's note for $$900 was collected by the bank. A collection fee of $$25 was deducted by the
bank and the difference was deposited in the account.
f. Included with the canceled checks was a check for $$275, drawn on another company, Browne Inc.

Required


(a) Prepare a bank reconciliation as of September 30.
(b) Prepare any necessary adjusting journal entries necessary as a result of the bank reconciliation.
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【第 9 页 共 9 页】



112学期《会计学原理》期中考试
(考试时间:9:00-11:20)(2小时20分钟)
PART I MULTIPLE CHOICE (32 POINTS)
1. The area of accounting aimed at serving the decision making needs of internal users is:
A. Financial accounting.
B. Managerial accounting.
C. External auditing.
D. SEC reporting.
E. Bookkeeping.

2. The accounting guideline that requires financial statement information to be supported by independent,
unbiased evidence other than someone's belief or opinion is the:
A. Business entity principle.
B. Monetary unit principle.
C. Going-concern principle.
D. Cost principle.
E. Objectivity principle.

3. A corporation:
A. Is a business legally separate from its owners.
B. Is controlled by the FASB.
C. Has shareholders who have unlimited liability for the acts of the corporation.
D. Is the same as a limited liability partnership.
E. All of these.

accounting assumption that requires every business to be accounted for separately from other
business entities, including its owner or owners is known as the:
A. Objectivity principle.
B. Business entity assumption.
C. Going-concern assumption.
D. Revenue recognition principle.
E. Cost principle.

5. A ledger is:
A. A record containing increases and decreases in a specific asset, liability, equity, revenue, or expense
item.
B. A journal in which transactions are first recorded.
C. A collection of documents that describe transactions and events entering the accounting process.
D. A list of all accounts with their debit balances at a point in time.
E. A record containing all accounts and their balances used by a company.

6. Which of the following statements is incorrect?
A. The normal balance of accounts receivable is a debit.
B. The normal balance of owner's withdrawals is a debit.
【第 1 页 共 9 页】



C. The normal balance of unearned revenues is a credit.
D. The normal balance of an expense account is a credit.
E. The normal balance of the owner's capital account is a credit.

7. The following transactions occurred during July:
1) Received $$900 cash for services provided to a customer during July.
2) Received $$2,200 cash investment from Barbara Hanson, the owner of the business.
3) Received $$750 from a customer in partial payment of his account receivable which arose from sales
in June.
4) Provided services to a customer on credit, $$375.
5) Borrowed $$6,000 from the bank by signing a promissory note.
6) Received $$1,250 cash from a customer for services to be rendered next year.
What was the amount of revenue for July?

A. $$ 900. B. $$ 1,275. C. $$ 2,525. D. $$ 3,275. E. $$11,100.

8. If Tim Jones, the owner of Jones Hardware proprietorship, uses cash of the business to purchase a
family automobile, the business should record this use of cash with an entry to:
A. Debit Salary Expense and credit Cash.
B. Debit Tim Jones, Salary and credit Cash.
C. Debit Cash and credit Tim Jones, Withdrawals.
D. Debit Tim Jones, Withdrawals and credit Cash.
E. Debit Automobiles and credit Cash.

9. During the month of March, Cooley Computer Services made purchases on account totaling $$43,500.
Also during the month of March, Cooley was paid $$8,000 by a customer for services to be provided in the
future and paid $$36,900 of cash on its accounts payable balance. If the balance in the accounts payable
account at the beginning of March was $$77,300, what is the balance in accounts payable at the end of
March?
A. $$83,900. B. $$91,900. C. $$6,600. D. $$75,900. E. $$4,900.

10. The accrual basis of accounting:
A. Is generally accepted for external reporting because it is more useful than cash basis for most business
decisions.
B. Is flawed because it gives complete information about cash flows.
C. Recognizes revenues when received in cash.
D. Recognizes expenses when paid in cash.
E. Eliminates the need for adjusting entries at the end of each period.

11. Which of the following statements is incorrect?
A. Adjustments to prepaid expenses, depreciation, and unearned revenues involve previously recorded
assets and liabilities.
B. Accrued expenses and accrued revenues involve assets and liabilities that had not previously been
recorded.
C. Adjusting entries can be used to record both accrued expenses and accrued revenues.
D. Prepaid expenses, depreciation, and unearned revenues often require adjusting entries to record the
【第 2 页 共 9 页】



effects of the passage of time.
E. Adjusting entries affect the cash account.

12. If a company mistakenly forgot to record depreciation on office equipment at the end of an accounting
period, the financial statements prepared at that time would show:
A. Assets overstated and equity understated.
B. Assets and equity both understated.
C. Assets overstated, net income understated, and equity overstated.
D. Assets, net income, and equity understated.
E. Assets, net income, and equity overstated.

13. Closing the temporary accounts at the end of each accounting period:
A. Serves to transfer the effects of these accounts to the owner's capital account on the balance sheet.
B. Prepares the withdrawals account for use in the next period.
C. Gives the revenue and expense accounts zero balances.
D. Causes owner's capital to reflect increases from revenues and decreases from expenses and
withdrawals.
E. All of these.

14. The usual order for the asset section of a classified balance sheet is:
A. Current assets, prepaid expenses, long-term investments, intangible d expense属于
current assets
B. Long-term investments, current assets, plant assets, intangible assets.
C. Current assets, long-term investments, plant assets, intangible assets.
D. Intangible assets, current assets, long-term investments, plant assets.
E. Plant assets, intangible assets, long-term investments, current assets.

15. A company purchased $$4,000 worth of merchandise. Transportation costs were an additional $$350.
The company later returned $$275 worth of merchandise and paid the invoice within the 2% cash discount
period. The total amount paid for this merchandise is:
A. $$3,725. B. $$3,925. C. $$3,995. D. $$4,000.50. E. $$4,075.

16. Which of the following inventory costing methods will always result in the same values for ending
inventory and cost of goods sold regardless of whether a perpetual or periodic inventory system is used?
A. FIFO and LIFO
B. LIFO and weighted-average cost
C. Specific identification and FIFO
D. FIFO and weighted- average cost
E. LIFO and specific identification

17. The conservatism constraint:
A. Requires that when multiple estimates of amounts to be received or paid in the future are equally likely,
then the least optimistic amount should be used.
B. Requires that a company use the same accounting methods period after period.
C. Requires that revenues and expenses be reported in the period in which they are earned or incurred.
【第 3 页 共 9 页】



D. Requires that all items of a material nature be included in financial statements.
E. Requires that all inventory items be reported at full cost.

18. Assume that a company uses a sales journal, a purchases journal, a cash receipts journal, a cash
disbursements journal, and a general journal. A sales return for credit on account would be recorded in
the:
A. Sales journal.
B. General journal.
C. Cash receipts journal.
D. Accounts receivable ledger.
E. Cash disbursements journal.

19. A properly designed internal control system:
A. Lowers the company's risk of loss.
B. Insures profitable operations.
C. Eliminates the need for an audit.
D. Requires the use of non- computerized systems.
E. Is not necessary if the company uses a computerized system.

20. When two clerks share the same cash register it is a violation of which internal control principle?
A. Establish responsibilities.
B. Maintain adequate records.
C. Insure assets.
D. Bond key employees.
E. Apply technological controls.

21. After posting is completed, there may be an error if:
A. The sum of the customer account balances does not equal the total in the sales journal.
B. The sum of the accounts receivable ledger does not equal the balance in the Sales account.
C. The sum of the customer account balances does not equal the general ledger Accounts Receivable
controlling account balance.
D. The balance in the sales journal does not equal the Accounts Receivable account balance.
E. The sum of the accounts receivable ledger does not equal the balance in the sales journal.

22. Cash equivalents:
A. Include savings accounts.
B. Include checking accounts.
C. Are short-term investments sufficiently close to their maturity date that their value is not sensitive to
interest rate changes.
D. Include time deposits.
E. Have no immediate value.

23. When a petty cash fund is in use:
A. Expenses paid with petty cash are recorded when the fund is replenished.
B. Petty Cash is debited when funds are replenished.
C. Petty Cash is credited when funds are replenished.
【第 4 页 共 9 页】



D. Expenses are not recorded.
E. Cash is debited when funds are replenished.

24. For which item does a bank NOT issue a debit memorandum?
A. To notify a depositor of all withdrawals through an ATM.
B. To notify a depositor of a fee assessed to the depositor's account.
C. To notify a depositor of a uncollectible check.
D. To notify a depositor of periodic payments arranged in advance, by a depositor.
E. To notify a depositor of a deposit to their account.

25. Martha Company has an established petty cash fund in the amount of $$500. The fund was last
reimbursed on November 30. At the end of December, the fund contained the following petty cash
receipts:



If, in addition to these receipts, the petty cash fund contains $$301 of cash, the journal entry to reimburse
the fund on December 31 will include:
A. A debit to Transportation-In of $$73.
B. A debit to Transportation-Out of $$73.
C. A credit to Office Supplies of $$66.
D. A credit to Cash Over and Short of $$10.
E. A debit to Cash Over and Short of $$10.


26. The following information is available for Holland Company at December 31:



Based on this information, Holland Company should report Cash and Cash Equivalents on December 31
of:
A. $$35,421 B. $$50,421 C. $$37,546 D. $$36,246 E. $$40,439


【第 5 页 共 9 页】



27. Louise Company reported the following income statement information for Year 1 and Year 2:



The beginning inventory balance for Year 1 is correct. The ending inventory balance for Year 2 is also
correct. However, the ending inventory figure for Year 1 was overstated by $$20,000. Given this
information, the correct gross profit figures for Year 1 and Year 2 would be:
A. $$129,000 for Year 1 and $$256,000 for Year 2.
B. $$281,000 for Year 1 and $$274,000 for Year 2.
C. $$129,000 for Year 1 and $$276,000 for Year 2.
D. $$169,000 for Year 1 and $$236,000 for Year 2.
E. $$169,000 for Year 1 and $$276,000 for Year 2.

28. A company has the following per unit original costs and replacement costs for its inventory:

Part A: 50 units with a cost of $$5, and replacement cost of $$4.50
Part B: 75 units with a cost of $$6, and replacement cost of $$6.50
Part C: 160 units with a cost of $$3, and replacement cost of $$2.50

Under the lower of cost or market method, the total value of this company's ending inventory is:
A. $$1,180.00.
B. $$1,075.00.
C. $$1,075.00 or $$1,112.50, depending upon whether LCM is applied to individual items or the inventory
as a whole.
D. $$1,112.50.
E. $$1180.00 or $$1075.00, depending upon whether LCM is applied to individual items or to the inventory
as a whole.

Part II PROBLEMS (68 points)
Problem One (26 points)
Ceres Computer Sales uses the perpetual inventory system and had the following transactions during
December.
【第 6 页 共 9 页】





Required:
Prepare the general journal entries to record these transactions.


Problem Two (10 points)
In general journal form, record the December 31 adjusting entries for the following transactions and
events. Assume that December 31 is the end of the annual accounting period.
a. The Prepaid Insurance account shows a debit balance of $$2,340, representing the cost of a three-year
fire insurance policy that was purchased on October 1 of the current year.
b. The Office Supplies account has a debit balance of $$400; a year-end inventory count reveals $$80 of
supplies still on hand.
c. On November 1 of the current year, Rent Earned was credited for $$1,500. This amount represented the
rent earned for a three-month period beginning November 1.
d. Estimated depreciation on office equipment is $$600.
e. Accrued salaries amount to $$400.

Problem Three(12 points)
【第 7 页 共 9 页】



Following is the year-end adjusted trial balance for Yakima's Sporting Goods for the current year:

Required


Prepare the closing entries at December 31 for the current year.


Problem Four(20 points)
Brown Company's bank statement for September 30 showed a cash balance of $$1,350. The company's
Cash account in its general ledger showed a $$995 debit balance. The following information was also
available as of September 30.

a. A $$125 debit memoranda is included with the bank statement and dealt with a customer's check for
$$100 marked NSF and returned to Brown Company by the bank. In addition, the bank charged the
company's a $$25 processing fee.
b. The September 30 cash receipts, $$1,250, were placed in the bank's night depository after banking hours
on that date and this amount did not appear on the September 30 bank statement.
c. A $$15 debit memorandum for checks printed by the September 30 bank was included with the canceled
checks.
d. Outstanding checks amounted to $$1,145.
e. A customer's note for $$900 was collected by the bank. A collection fee of $$25 was deducted by the
bank and the difference was deposited in the account.
f. Included with the canceled checks was a check for $$275, drawn on another company, Browne Inc.

Required


(a) Prepare a bank reconciliation as of September 30.
(b) Prepare any necessary adjusting journal entries necessary as a result of the bank reconciliation.
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【第 9 页 共 9 页】

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