西方会计练习题Word文件下载.doc
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b. beverifiable.
c. helppredictfutureevents.
d. beafaithfulrepresentation.
____ 3. Thecostofintangibleassetsshouldbe
a. amortizedovertheassets'
estimatedusefullife,or20years,whicheverisshorter.
b. amortizedoveraperiodnotexceeding5years.
c. amortizedovertheassets'
estimatedusefullife.
d. chargedtoanexpenseaccountatacquisition.
____ 4. OnNovember30,ThatcherCompanyissueda$8,000,6%,4-monthnotetotheNationalBank.TheentryonThatcher'
sbookstorecordthepaymentofthenoteatmaturitywillincludeacredittoCashfor
a. $8,000.
b. $8,480.
c. $8,160.
d. $8,320.
____ 5. ThefollowinginformationisavailableforLightenCompany:
Sales $130,000
Freight-in $10,000
EndingMerchandiseInventory 12,000
PurchaseReturnsandAllowances 5,000
Purchases 90,000
BeginningMerchandiseInventory 15,000
Lighten’scostofgoodssoldis
a. $115,000.
b. $110,000.
c. $98,000.
d. $95,000.
e. Noneoftheabove.
____ 6. Oneofthetwoconstraintsinaccountingis
a. comparability.
b. materiality.
c. reliability.
d. relevance.
____ 7. Allofthefollowingareintangibleassetsexcept
a. patents.
b. landimprovements.
c. goodwill.
d. franchises.
____ 8. Whentheallowancemethodisusedforbaddebts,theentrytowriteoffanindividualaccountknowntobeuncollectibleinvolvesa
a. debittoanexpenseaccount.
b. credittoanexpenseaccount.
c. credittotheAllowanceaccount.
d. debittotheAllowanceaccount.
____ 9. HeligCompanyhasa$150,000balanceinAccountsReceivableanda$1,000debitbalanceinAllowanceforDoubtfulAccounts.Creditsalesfortheperiodtotaled$900,000.WhatistheamountofthebaddebtadjustingentryifHeligusesapercentageofreceivablesbasis(at10%)?
a. $15,000
b. $14,000
c. $16,000
d. $15,200
____ 10. Ifmerchandiseissoldfor$1,000subjecttocredittermsof2/10,n/30,theentrytorecordcollectioninfullwithinthediscountperiodwouldincludea
a. credittoSalesDiscountsfor$20.
b. credittoCashfor$980.
c. credittoAccountsReceivablefor$20.
d. noneoftheabove.
____ 11. JetsonCompany'
sfinancialinformationispresentedbelow.
Sales $?
?
PurchaseReturnsandAllowances $15,000
SalesReturnsandAllowances 30,000 EndingMerchandiseInventory 35,000
NetSales 250,000 CostofGoodsSold 180,000
BeginningMerchandiseInventory ?
GrossProfit ?
Purchases 170,000
Themissingamountsaboveare:
Sales BeginningInventory GrossProfit
a. $280,000 $45,000 $70,000
b. $220,000 $45,000 $100,000
c. $280,000 $60,000 $70,000
d. $220,000 $60,000 $100,000
____ 12. Thepreparationofclosingentries
a. isanoptionalstepintheaccountingcycle.
b. resultsinzerobalancesinallaccountsattheendoftheperiodsothattheyarereadyforthefollowingperiod'
stransactions.
c. isnecessarybeforefinancialstatementscanbeprepared.
d. resultsintransferringthebalancesinalltemporaryaccountstoRetainedEarnings.
____ 13. Currentliabilitiesareobligationsthatarereasonablyexpectedtobepaidfrom
Existing CreationofOther
CurrentAssets CurrentLiabilities
a. No No
b. Yes Yes
c. Yes No
d. No Yes
____ 14. Theprimaryaccountingstandard-settingbodyintheUnitedStatesisthe
a. SecuritiesandExchangeCommission.
b. AccountingPrinciplesBoard.
c. FinancialAccountingStandardsBoard.
d. InternalRevenueService.
____ 15. Whichofthefollowingstatementsistrue?
____ 16. Inaccountingforavailable-for-salesecurities,theUnrealizedLoss—Equityaccountshouldbeclassifiedasa
a. liabilityonthebalancesheet.
b. lossontheincomestatement.
c. deductioninthestockholders'
equitysectionofthebalancesheet.
d. contraassetonthebalancesheet.
____ 17. FisonCorp.purchased15,000sharesofits$2parcommonstockatacostof$13