会原期中复习题题选Word文档格式.docx
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D.Generalpublic
2.Atrialbalancehastotaldebitsof$20,000andtotalcreditsof$24,500.Whichoneofthefollowingerrorswouldcreatethisimbalance?
A.A$2,250debittoRentExpenseinajournalentryisincorrectlypostedtotheledgerasa$2,250credit,leavingtheRentExpenseaccountwitha$3,000debitbalance.
B.A$4,500debittoSalariesExpenseinajournalentryisincorrectlypostedtotheledgerasa$4,500credit,leavingtheSalariesExpenseaccountwitha$750debitbalance.
C.A$2,250credittoConsultingFeesEarnedinajournalentryisincorrectlypostedtotheledgerasa$2,250debit,leavingtheConsultingFeesEarnedaccountwitha$6,300creditbalance.
3.AmaliaCompanyreceiveditsutilitybillforthecurrentperiodof$700andimmediatelypaidit.Itsjournalentrytorecordthistransactionincludesa
a.CredittoUtilityExpensefor$700.b.DebittoUtilityExpensefor$700.
c.DebittoAccountsPayablefor$700.
d.DebittoCashfor$700.
e.CredittoCapitalfor$700.
4.Overlandpurchased$3,000ofmerchandisefromOverseas.Thecredittermswere2/10,n/30.ThefreighttermswereFOBshippingpoint.Freightcostsof$60wereincludedintheinvoice.WhatjournalentryshouldOverlandrecord,assumingOverlandusesaperpetualinventorysystem?
A.MerchandiseInventory,debit,$3,000;
deliveryexpense,debit,$60;
AccountsPayable,credit,$3,060
B.MerchandiseInventory,debit,$3,000;
AccountsPayable,credit,$3,000
C.MerchandiseInventory,debit,$2,940;
AccountsPayable,credit,$2,940
D.MerchandiseInventory,debit,$3,060;
andAccountsPayable,credit,$3,060.
5.Acompany’sendinginventoryincludesthefollowingitems:
Product
UnitsonHand
UnitCost
Marketvalueperunit
A
20
$6
$3
B
50
$5
$8
C
10
$10
$15
Appliedseparatelytoeachproduct,theinventory
’slowerofcostormarketamountis:
A.$520B.$410
C.$670
D.$600E.Noneoftheabove
1
6.Ifthepettycashfundisnotreplenishedattheendoftheaccountingperiod,whichwillnotbetrue?
A.Netincomewillbeoverstatedornetlosswillbeunderstated
B.Liabilitieswillbeoverstatedonthebalancesheet
C.Thecashforthefirmwillbeoverstated
D.Theexpenseswillbeunderstated
E.Theincomestatementandthebalancesheetwillnotbecorrect
7.Acompanyneedstoreplenishits$500pettycashfund.Itspettycashboxhas$75cashandpettycashreceiptsof$420.Thejournalentrytoreplenishthefundincludes
a.AdebittoCashfor$75.b.AcredittoCashfor$75.
c.AcredittoPettyCashfor$420.
d.AcredittoCashOverandShortfor$5.e.AdebittoCashOverandShortfor$5
8.Accordingtotherulesofdebitandcreditforbalancesheetaccounts:
A.Increasesinasset,liabilityandowners’equityaccountsarerecordedbydebits
B.Decreaseinassetandliabilityaccountsarerecordedbycredits.
C.Increasesinassetandowners’equityaccountsarerecordedbydebits.
D.Decreaseinliabilityandowners’equityaccountsarerecordedbydebits.
9.Whichofthefollowingisprovidedbyatrialbalanceinwhichtotaldebitsequaltotalcredits:
A.Proofthatnotransactionwascompletelyomittedfromtheledgerduringthepostingprocess.
B.Proofthatthecorrectdebitorcreditbalancehasbeencomputedforeachaccount
C.Proofthattheledgerisinbalance
D.Proofthattransactionshavebeencorrectlyanalyzedandrecordedintheproperaccount.
10.TheCPAfirmauditingMasonStreetRecordingStudiosfoundthattotalstockholders’equityw
understatedandliabilitieswereoverstated.Whichofthefollowingerrorscouldhavebeenthecause:
A.Failuretorecordtheearnedportionoffeesreceivedinadvance.
B.Makingtheadjustmententryfordepreciationexpensetwice.
C.Failuretorecordinterestaccruedonanotepayable.
D.Failuretomaketheadjustingentrytorecordrevenuethathadbeenearnedbutnotyetbilledtoclients
11.Whichofthefollowingtypesofinformationisn’foundtinsubsidiaryledger,butinthegeneralledger?
A.Totalcostofgoodssoldfortheperiod
B.Thequantityofaparticularproductsoldduringtheperiod
C.Thedollaramountowedtoaparticularcreditor
D.Thedollaramountpayabletoavendor
12.FashionHouseusesaperpetualinventorysystem.Atthebeginningoftheyear,inventoryamounted
2
to$50,000.Duringtheyear,thecompanypurchasedmerchandisefor$230,000,andsoldmerchandisecosting$245,000.Aphysicalinventorytakenatyear-endindicatedshrinkagelossesof$4,000.Priorto
recordingtheseshrinkagelosses,theyear-endbalanceinthecompany’sInventoryaccountwas:
A.$31,000B.$35,000C.$50,000D.Someotheramount
13.T-Shir