会计专业英语模拟试题及答案013840Word下载.docx
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Johnnyhadreceivablesof$5500atthestartof2010.Duringtheyearto31Dec2010hemakescreditsalesof$55000andreceivescashof$46500fromcreditcustomers.
Whatisthebalanceontheaccountsreceivablesat31Dec2010?
$8500Dr
$8500Cr
$14000Dr$14000CrShoulddividendspaidappearonthefaceofacompany'
scashflowstatement?
Yes
No
Notsure
Either
Whichofthefollowinginventoryvaluationmethodsislikelytoleadtothehighestfigureforclosinginventoryatatimewhenpricesaredropping?
WeightedAveragecost
Firstinfirstout(FIFO)
Lastinfirstout(LIFO)
Unitcost
5.Whichoffollowingitemsmayappearasnon-currentassetsinacompany'
sthestatementof
financialposition?
(1)plant,equipment,andproperty
(2)companycar
(3)?
4000cash
(4)?
1000cheque
A.
(1),(3)
B.
(1),
(2)
C.
(2),(3)
D.
(2),(4)
6.
sbalancesh
Whichofthefollowingitemsmayappearascurrentliabilitiesinacompany
(1)investmentinsubsidiary
(2)Loanmaturedwithinoneyear.
(3)incometaxaccrueduntillyearend.
(4)Preferencedividendaccrued
A
(1),
(2)and(3)
B
(1),
(2)and(4)
C
(1),(3)and(4)
D
(2),(3)and(4)
7.ThetrialbalancetotalsofGammaat30September2010are:
Debit$992,640
Credit$1,026,480
WhichTWOofthefollowingpossibleerrorscould,whencorrected,causethetrialbalancetoagree?
1.Aniteminthecashbook$6,160forpaymentofrenthasnotbeenenteredintherentpayableaccount.
2.Thebalanceonthemotorexpensesaccount$27,680hasincorrectlybeenlistedinthetrialbalanceasacredit.
3.$6,160proceedsofsaleofamotorvehiclehasbeenpostedtothedebitofmotorvehiclesassetaccount.
4.Thebalanceof$21,520ontherentreceivableaccounthasbeenomittedfromthetrialbalance.
A1and2B2and3
C2and4
D3and4
8.Thetapreparesitsfinancialstatementsfortheyearto30Aprileachyear.Thecompanypaysrentforitspremisesquarterlyinadvanceon1January,1April,1Julyand1Octobereachyear.
Theannualrentwas$84,000peryearuntil30June2010.Itwasincreasedfromthatdateto$96,000peryear.Whatrentexpenseandendofyearprepaymentshouldbeincludedinthefinancialstatementsfortheyearended30April2010?
Expense
Prepayment
A
$93,000
$8,000
B
$16,000
C
$94,000
D
9.At30September2010,thefollowingbalancesexistedintherecordsofLambda:
Plantandequipment:
$860,000
Depreciationforplantandequipment:
$397,000
Duringtheyearended30September2010,plantwithawrittendownvalueof$37,000wassoldfor$49,000.Theplanthadoriginallycost$80,000.Plantpurchasedduringtheyearcost$180,000.
Itisthecompany.spolicytochargeafullyeardepreciationintheyearofacquisitionofanassetandnoneintheyearofsale,usingarateof10%onthestraightlinebasis.WhatnetamountshouldappearinLambda.sbalancesheetat30September2010forplantandequipment?
A$563,000
B$467,000
C$510,000
D$606,000
10.Acompany'
splantandmachineryledgeraccountfortheyearended30September2010wasasfollows:
Plantandmachinery–cost
2009$
2010$
1Octoberbalanceb/f381200
1JuneDisposal36000
1Deccash18000
30Septbalancec/f363200
399200
30Septbalanceb/f363200
Thecompany'
spolicyitsochargedepreciationat20%peryearonthestraightlinebasis,withproportionatedepreciationinyearsofpurchaseanddisposal.Whatisthedepreciationchargefortheyearended30September2010?
A$74,440
B$84,040
C$72,640
D$76,840
11.Listedbelowaresomecharacteristicsoffinancialinformation.
(1)True
(2)Prudence
(3)Completeness
(4)CorrectWhichofthesecharacteristicscontributetoreliability?
A
(1),(3)and(4)only
B
(1),
(2)and(4)only
C
(1),
(2)and(3)onlyD
(2),(3)and(4)only
12.Theplantandmachinerycostaccountofacompanyisshownbelow.Thecompany
tochargedepreciationat20%onthestraightlinebasis,withproportionatedepreciationinyearsofacquisitionanddisposal.
spolicyi
1Janbalanceb/f280000
30Junedisposal14000
1Aprcash48000
1Septcash
36000
31Decbalancec/f350000
Balanceb/f
364000
350000
What