商业企业循环习题精选无答案Word格式文档下载.docx

商业企业循环习题精选无答案Word格式文档下载.docx

《商业企业循环习题精选无答案Word格式文档下载.docx》由会员分享，可在线阅读，更多相关《商业企业循环习题精选无答案Word格式文档下载.docx（8页珍藏版）》请在冰豆网上搜索。

Acompanyhadagrossprofitof$300,000basedonsalesof$400,000.Itscostofgoodssoldequals$700,000. 

11. 

Amerchandisingcompany'

soperatingcyclebeginswiththesaleofmerchandiseandendswiththecollectionofcashfromthesale. 

12. 

Merchandiseinventoryisreportedinthelong-termassetssectionofthebalancesheet. 

13. 

Cashsalesshortentheoperatingcycleforamerchandiser;

creditpurchaseslengthenoperatingcycles. 

14. 

Assetstiedupininventoryarenotproductiveassets. 

15. 

Aperpetualinventorysystemrequiresupdatingoftheinventoryaccountonlyatthebeginningofanaccountingperiod. 

16. 

Aperpetualinventorysystemcontinuallyupdatesaccountingrecordsforinventorytransactions. 

17. 

Beginningmerchandiseinventoryplusthenetcostofpurchasesisthemerchandiseavailableforsale. 

18. 

Theacid-testratioisalsocalledthequickratio. 

19. 

Quickassetsincludecash,inventory,andcurrentreceivables. 

20. 

Theacid-testratioisdefinedascurrentassetsdividedbycurrentliabilities. 

21. 

Acommonruleofthumbisthatacompany'

sacid-testratioshouldbeatleast2oracompanymayfacenear-termliquidityproblems. 

26. 

Theprofitmarginratioisgrossmargindividedbytotalassets. 

27. 

Thegrossmarginratioreflectstherelationbetweensalesandcostofgoodssold. 

28. 

Acompanyhadnetsalesof$340,500,itscostofgoodssoldwas$257,000,anditsnetincomewas$13,750.Thecompany'

sgrossmarginratioequals24.5%. 

29. 

J.C.Penneyhadnetsalesof$24,750million,costofgoodssoldof$16,150million,andnetincomeof$837million.Itsgrossmarginratioequals3.4%. 

30. 

TheMerchandiseInventoryaccountbalanceattheendofthecurrentperiodisequaltotheamountofbeginningmerchandiseinventoryforthenextperiod. 

MultipleChoiceQuestions

75. 

Amerchandisingcompany:

A. 

Earnsnetincomebybuyingandsellingmerchandise.

B. 

Canbuyproductsfrommanufacturersandselltoretailers.

C. 

Canbuyproductsfrommanufacturersandsellthemtoconsumers.

D. 

Canbeawholesaleroraretailer.

E. 

Allofthese.

76. 

Receivesfeesonlyinexchangeforservices.

Earnsprofitfromcommissionsonly.

Earnsprofitfromfaresonly.

Buysproductsfromconsumers.

78. 

Acompanyhadsalesof$695,000andcostofgoodssoldof$278,000.Itsgrossmarginequals:

$（417,000）.

$695,000.

$278,000.

$417,000.

$973,000.

79. 

Acompanyhadsalesof$375,000anditsgrossprofitwas$157,500.Itscostofgoodssoldequals:

$（217,000）.

$375,000.

$157,500

$217,500.

$532,500.

80. 

Grossprofit:

Isalsocalledgrossmargin.

Lessotheroperatingexpensesequalsincomefromoperations.

Equalsnetsaleslesscostofgoodssold.

Mustcoveralloperatingexpensestoyieldareturnfortheownerofthebusiness.

81. 

Merchandiseinventory:

Isreportedonthebalancesheetasacurrentasset.

Referstoproductsacompanyownsandintendstosell.

Canincludethecostofshippingthegoodstothestoreandmakingthemreadyforsale.

Doesnotappearonthebalancesheetofaservicecompany.

Allofthese. 

82. 

Theoperatingcycleofamerchandisingcompany:

Beginswiththepurchaseofmerchandise.

Endswiththecollectionofcashfromthesaleofmerchandise.

Canvaryinlengthamongdifferentmerchandisingcompanies.

Sometimesinvolvesaccountsreceivable.

83. 

Isalong-termasset.

Isacurrentasset.

Includessupplies.

Isclassifiedwithinvestmentsonthebalancesheet.

Mustbesoldwithinonemonth. 

84. 

Theoperatingcycleforamerchandiserthatsellsonlyforcashmovesfrom:

Purchasesofmerchandisetoinventorytocashsales.

Purchasesofmerchandisetoinventorytoaccountsreceivabletocashsales.

Inventorytopurchasesofmerchandisetocashsales.

Accountsreceivabletopurchasesofmerchandisetoinventorytocashsales.

Accountsreceivabletoinventorytocashsales. 

85. 

Thecurrentperiod'

sendinginventoryis:

Thenextperiod'

sbeginninginventory.

scostofgoodssold.

Thepriorperiod'

snetpurchases.

86. 

Beginninginventoryplusnetpurchasesis:

Costofgoodssold.

Merchandiseavailableforsale.

Endinginventory.

Sales.

Shownonthebalancesheet. 

87. 

Theacid-testratio:

Isalsocalledthequickratio.

Measuresprofitability.

Measuresinventoryturnover.

Isgenerallygreaterthanthecurrentratio.

88. 

Thequickassetsaredefinedas:

Cash,short-terminvestments,andinventory.

Cash,short-terminvestments,andcurrentreceivables.

Cash,inventory,andcurrentreceivables.

Cash,noncurrentreceivables,andprepaidexpenses.

Accountsreceivable,inventory,andprepaidexpenses

89. 

ABCCorporation'

stotalquickassetswere$5,888,000,itscurrentassetswere$11,700,000anditscurrentliabilitieswere$8,000,000.Itsacid-testratioequals:

0.50.

0.68.

0.74.

1.50.

2.20.

90. 

Acompany'

scurrentassetswere$17,980,itsquickassetswere$11,420anditscurrentliabilitieswere$12,190.Itsquickratioequals:

0.94.

1.07.

1.48.

1.57.

2.40.

92. 

Theacid-testratiodiffersfromthecurrentratiointhat:

Liabilitiesaredividedbycurrentassets.

Prepaidexpensesandinventoryareexcludedfromthecalculationoftheacid-testratio.

Theacid-testratiomeasuresprofitabilityandthecurrentratiodoesnot.

Theacid-testratioexcludesshort-terminvestmentsfromthecalculation.

Theacid-testratioisameasureofliquiditybutthecurrentratioisnot. 

BreannaBoutiquereportedthefollowingyear-endinformation:

93. 

Thecurrentratioandacid-testratiofortheboutiqueare_________and________,respectively:

1.8and1

1.97and1.52

2.73and1.52

3.50and0.90

Noneofthese

Currentratio=$460,500/$131,500=3.50

Acid-testratio=$118,000/$131,500=0.90 

94. 

BasedontheratiosandanalysisoftheaccountbalancesforBreannaBoutique,thecompanyis:

likelytofacenear-termliquidityproblems.

unlikelytofacenear-termliquidityproblems.

likelyraisingliquidityconcernsunlesscashcanbegeneratedfrominventorysales.

unlikelyraisingliquidityconcerns.

BothAandC. 

96. 

sgrossprofitwas$83,750anditsnetsaleswere$347,800.Itsgrossmarginratioequals:

4.2%.

24.1%.

75.9%.

$83,750.

$264,050.

97. 

snetsaleswere$676,600,itscostofgoodsoldwas$236,810anditsnetincomewas$33,750.Itsgrossmarginratioequals:

5%.

9.6%.

35%.

65%.

285.7%.

98. 

Acompanyhadnetsalesandcostofgoodssoldof$752,000and$543,000,respectively.Itsnetincomewas$17,530.Thecompany'

sgrossmarginratioequals:

18.9%

24.5%

27.8%

34.7%

35.2%

以下习题进作业本

162. 

CeresComputerSalesusestheperpetualinventorysystemandhadthefollowingtransactionsduringDecember.

Required:

Preparethegeneraljournalentriestorecordthesetransactions. 

165. 

Followingistheyear-endadjustedtrialbalanceforYakima'

sSportingGoodsforthecurrentyear:

PreparetheclosingentriesatDecember31forthecurrentyear. 

166. 

Theyear-endadjustedtrialbalanceofABCSupplyforthecurrentyear,isshownbelow:

PrepareclosingentriesatDecember31forthecurrentyear. 

167. 

FromthebellowadjustedtrialbalancefortheWorkerProductsCompany,prepareamultiple-stepincomestatementingoodform.