会计英语第三章作业文档格式.docx

会计英语第三章作业文档格式.docx

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2. 

Timeperiodprinciple 

Theaccountingsystemwhererevenuesarerecognizedwhencashisreceivedandexpensesarerecordedwhencashispaid. 

3. 

Profitmargin 

Itemspaidforinadvanceofreceivingtheirbenefits. 

4. 

Matchingprinciple 

Netincomedividedbynetsales. 

5. 

Accruedrevenues 

Theexpensecreatedbyallocatingthecostofplantandequipmenttotheperiodsinwhichtheyareused. 

6. 

Accrualbasisaccounting 

Allocatesequalamountsofanasset'

scost（lessanysalvagevalue）todepreciationexpenseduringitsusefullife. 

7. 

Cashbasisaccounting 

Aprinciplethatassumesthatanorganization'

sactivitiescanbedividedintospecifictimeperiodssuchasmonths,quarters,oryears. 

8. 

Prepaidexpenses 

Theprinciplethatrequiresexpensestobereportedinthesameperiodastherevenuesthatwereearnedasaresultoftheexpenses. 

9. 

Straight-linedepreciation 

Revenuesearnedinaperiodthatarebothunrecordedandnotyetreceivedincashorotherassets. 

140. 

Matchthefollowingtermstheappropriatedefinition. 

141. 

Matchthefollowingtermswiththeappropriatedefinition. 

Adjustedtrialbalance 

Abalancesheetthatlistsassetsontheleftsideandliabilitiesandequityontheright. 

Adjustingentry 

Ajournalentryusedattheendofanaccountingperiodtobringanassetorliabilityaccountbalancetoitsproperamountandupdatetherelatedexpenseorrevenueaccount. 

Accountformbalancesheet 

Alistingofaccountsandbalancespreparedbeforeadjustmentsarerecorded. 

Accountingperiod 

Theconsecutive12months（or52weeks）selectedastheorganization'

sannualaccountingperiod. 

Contraaccount 

Abalancesheetthatlistsitemsverticallyintheorder:

assets,liabilitiesandequity. 

Unadjustedtrialbalance 

Thelengthoftimecoveredbyfinancialstatements. 

Interimfinancialreports 

Anaccountlinkedwithanotheraccountandhavinganoppositenormalbalance. 

Fiscalyear 

Financialreportscoveringlessthanoneyear,usuallyone,three,orsix-monthperiods. 

Reportformbalancesheet 

Alistingofaccountsandbalancespreparedafteradjustmentsarerecordedandpostedtotheledger. 

10. 

Naturalbusinessyear 

A12-monthperiodthatendswhenacompany'

ssalesactivitiesareattheirlowestpoint. 

Problems

OnDecember14BenchCompanyreceived$3,700cashforconsultingservicesthatwillbeperformedinJanuary.Benchrecordsallsuchprepaymentsinaliabilityaccount.Prepareageneraljournalentrytorecordthe$3,700cashreceipt. 

OnDecember31,ConnellyCompanyhadperformed$5,000ofmanagementservicesforclientsthathadnotyetbeenbilled.PrepareConnelly'

sadjustingentrytorecordthesefeesearned. 

Acompanyhas20employeeswhoeachearn$500perweekfora5-dayweekthatbeginsonMonday.December31ofYear1isaMonday,andall20employeesworkedthatday.

a）PreparetherequiredadjustingjournalentrytorecordaccruedsalariesonDecember31,2009.

b）PreparethejournalentrytorecordthepaymentofsalariesonJanuary4,2010. 

PfisterCo.leasesanofficetoatenantattherateof$5,000permonth.ThetenantcontactedPfisterandarrangedtopaytherentforDecember2009onJanuary8,2010.Pfisteragreestothisarrangement.

a.）PreparethejournalentrythatPfistermustmakeatDecember31,2009torecordtheaccruedrentrevenue.

b.）PreparethejournalentrytorecordthereceiptoftherentonJanuary8,2010. 

PriortorecordingadjustingentriesonDecember31,acompany'

sStoreSuppliesaccounthadan$880debitbalance.Aphysicalcountofthesuppliesshowed$325ofunusedsuppliesavailableasofDecember31.Preparetherequiredadjustingentry. 

PreparegeneraljournalentriesonDecember31torecordthefollowingunrelatedyear-endadjustments.

a.Estimateddepreciationonofficeequipmentfortheyear,$4,000.

b.ThePrepaidInsuranceaccounthasa$3,680debitbalancebeforeadjustment.Anexaminationofinsurancepoliciesshows$950ofinsuranceexpired.

c.ThePrepaidInsuranceaccounthasa$2,400debitbalancebeforeadjustment.Anexaminationofinsurancepoliciesshows$600ofunexpiredinsurance.

d.Thecompanyhasthreeofficeemployeeswhoeachearn$100perdayforafive-dayworkweekthatendsonFriday.TheemployeeswerepaidonFriday,December26,andhaveworkedfulldaysonMonday,Tuesday,andWednesday,December29,30,and31.

e.OnNovember1,thecompanyreceived6months'

rentinadvancefromatenantwhoserentis$700permonth.The$4,200wascre