会计英语练习题Word下载.docx

会计英语练习题Word下载.docx

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（a）Classifyeachoftheaboveaccountsasanasset（A）,liability（L）,stockholders’equity（SE）,revenue（R）,orexpense（E）item.

（b）Classifyeachoftheaboveaccountsasafinancingactivity（F）,investingactivity（I）,oroperatingactivity（O）.Ifyoubelieveaparticularaccountdoesn’tfitinanyoftheseactivities,explainwhy.

2.Thefollowinginformationwastakenfromthe2004financialstatementsofpharmaceuticalgiantMerckandCo.Alldollaramountsareinmillions.

Retainedearnings,January1,2004$34,142.0

Materialsandproductionexpense4,959.8

Marketingandadministrativeexpense7,346.3

Dividends3,329.1

Salesrevenue22,938.6

Researchanddevelopmentexpense4,010.2

Taxexpense2.161.1

Otherrevenue1,352.2

（a）Afteranalyzingthedata,prepareanincomestatementandaretainedearningsstatementfortheyearendingDecember31,2004.

（b）SupposethatMerckdecidedtoreduceitsresearchanddevelopmentexpenseby50%.Whatwouldbetheshort-termimplications?

Whatwouldbethelong-termimplications?

Howdoyouthinkthestockmarketwouldreact?

3.KelloggCompanyistheworld’sleadingproducerofready-to-eatcerealandaleadingproducerofgrain-basedconveniencefoodssuchasfrozenwafflesandcerealbars.Thefollowingitemsweretakenfromits2004incomestatementandbalancesheet.Alldollarsareinmillions.

_____Retainedearnings$2,701.3_____Long-termdebt$3,892.6

_____Costofgoodssold5,298.7_____Inventories681.0

_____Sellingandadministrativeexpense2,634.1_____Netsales9,613.9

_____Cash417.4_____Accountspayable767.2

_____Notespayable709.7_____Commonstock103.8

_____Interestexpense308.6_____Incometaxexpense475.3

_____Otherexpense6.6

Performeachofthefollowing.

（a）Ineachcaseidentifywhethertheitemisanasset（A）,liability（L）,stockholders’equity（SE）,revenue（R）,orexpense（E）.

（b）PrepareanincomestatementforKelloggCompanyfortheyearendedDecember31,2004.

4.ThefollowingitemsweretakenfromthebalancesheetofNike,Inc.

（1）Cash$828.0（7）Inventories$1,633.6

（2）Accountsreceivable2,120.2（8）Incometaxespayable118.2

（3）Commonstock890.6（9）Property,plant,andequipment1,586.9

（4）Notespayable146.0（10）Retainedearnings3,891.1

（5）Otherassets1,722.9（11）Accountspayable763.8

（6）Otherliabilities2,081.9

（a）Classifyeachoftheseitemsasanasset,liability,orstockholders’equity.（Alldollarsareinmillions.）

（b）DetermineNike’saccountingequationbycalculatingthevalueoftotalassets,totalliabilities,andtotalstockholders’equity.

（c）TowhatextentdoseNikerelyondebtversusequityfinancing?

Chapter2.

1．TheseitemsaretakenfromthefinancialstatementsofDonovanCo.atDecember31.2007

Building$105,800

Accountsreceivable12,600

Prepaidinsurance4,680

Cash16,840

Equipment82,400

Land61,200

Insuranceexpense780

Depreciationexpense5,300

Interestexpense2,600

Commonstock62,000

Retainedearnings（January1,2007）40,000

Accumulateddepreciation-building45,600

Accountspayable9,500

Mortgagepayable93,600

Accumulateddepreciation-equipment18,720

Interestpayable3,600

Bowlingrevenues19,180

Prepareaclassifiedbalancesheet.Assumethat$13,600ofthemortgagepayablewillbepaidin2008.

2.Thefollowingitemsweretakenfromthe2004financialstatementsofTexasInstruments,Inc.（Alldollarsareinmillions.）

Long-termdebt$368Cash$2,668

Commonstock2,488Accumulateddepreciation5,655

Prepaidexpense326Accountspayable1,444

Property,plant,andequipment9,573Othernoncurrentassets1,927

Othercurrentassets554Othernoncurrentliabilities943

Othercurrentliabilities470Retainedearnings10,575

Long-terminvestments264Accountsreceivable1,696

Short-terminvestments3,690Inventories1,256

Loanspayablein200511

PrepareaclassifiedbalancesheetingoodformasofDecember31,2004.

3.ThesefinancialstatementitemsareforSnyderCorporationatyear-end,July31,2007.

Salariespayable$2,080

Salariesexpense51,700

Utilitiesexpense22,600

Equipment18,500

Accountspayable4,100

Commissionrevenue61,100

Rentrevenue8,500

Long-termnotepayable1,800

Commonstock16,000

Cash24,200

Accountsreceivable9,780

Accumulateddepreciation6,000

Dividends4,000

Depreciationexpense4,000

Retainedearnings（beginningoftheyear）35,200

（a）Prepareanincomestatementandaretainedearningsstatementfortheyear.SnyderCorporationdidnotissueanynewstockduringtheyear.

（b）PrepareaclassifiedbalancesheetatJuly31.

（c）Computethecurrentratioanddebttototalassetsratio.

（d）SupposethatyouarethepresidentofAlliedEquipment.Yoursalesmanagerhasapproachedyouwithaproposaltosell$20,000ofequipmenttoSnyder.HewouldliketoprovidealoantoSnyderintheformofa10%,5-yearnotepayable.EvaluatehowthisloanwouldchangeSnyder’scurrentratioanddebttototalassetsratio,anddiscusswhetheryouwouldmakethesale.

4.Thechieffinancialofficer（CFO）ofSuperCleanCorporationrequestedthattheaccountingdepartmentprepareapreliminarybalancesheetonDecember30,007,sothattheCFOcouldgetanideaofhowthecompanystood.Heknowsthatcertaindebtagreementswithitscreditorsrequirethecompanytomaintainacurrentratioofatleast2:

1.Thepreliminarybalancesheetisasfollows.

SUPERCLEANCORP.

BalanceSheet

December30,2007

CurrentassetsCurrentliabilities

Cash$30,000Accountspayable$25,000

Accountsreceivable20,000Salariespayable15,000$40,000

Prepaidinsurance10,000$60,000Long-termliabilities

Notespayable80,000

Totalliabilities120,000

Property,plant,andequipment（net）200,000Stockholders’equity

Totalassets$260,000Commonstock100,000

Retainedearnings40,000140,000

Totalliabilitiesandstockholdersequity$260,000

（a）Calculatethecurrentratioandworkingcapitalbasedonthepreliminarybalancesheet.

（b）Basedontheresultsin（a）,theCFOrequestedthat$25,000ofcashbeusedtopayoffthebalanceoftheaccountspayableaccountonDecember31,2007.Calculatethenewcurrentratioandworkingcapitalafterthecompanytakestheseactions.

（c）Discusstheprosandconsofthecurrentratioandworkingcapitalasmeasuresofliquidity.

（d）WasitunethicalfortheCFOtotakethesesteps?

5.Thefollowingdataweretakenfromthe2004and2003financialstatementsofAmericanEagleOutfitters.（Alldollarsareinthousands.）

20042003

Currentassets$525,623$427,878

Totalassets865,071741,339

Currentliabilities189,035141,586

Totalliabilities221,401163,857

Totalstockholders’equity643,670577,482

Cashprovidedbyoperatingactivities189,469104,548

Capitalexpenditures64,17361,407

Dividendspaid-0--0-

（a）Calculatethedebttototalassetsratioforeachyear.

（b）Calculatethefreecashflowforeachyear.

（c）DiscussAmericanEagle’ssolvencyin2004versus2003.

（d）DiscussAmericanEagle’sabilitytofinanceitsinvestmentactivitieswithcashprovidedbyoperatingactivities,andhowanydeficiencywouldbemet.

Chapter3.

1．During2007,itsfirstyearofoperationsasadeliveryservice,ChengCorp.enteredintothefollowingtransactions.

（1）Issuedsharesofcommonstocktoinvestorsinexchangefor$110,000incash.

（2）Borrowed$45,000byissuingbonds.

（3）Purchaseddeliverytrucksfor$60,000cash.

（4）Received$16,000fromcustomersforservicesprovided.

（5）Purchasedsuppliesfor$4,200onaccount.

（6）Paidrentof$5,600.

（7）Performedservicesonaccountfor$8,000.

（8）Paidsalariesof$28,000.

（9）Paidadividendof$11,000toshareholders.

Instructions

Usingthefollowingtabularanalysis,showtheeffectofeachtransactionontheaccountingequation.PutexplanationsforchangestoStockholders’Equityintheright-handmargin.

Assets=Liabilities+Stockholders’Equity

Cash+Accounts+Supplies+Property,Plant,=Accounts+Bonds+Common+Retained

ReceivableandEquipmentPayablePayableStockEarnings

2.SelectedtransactionsforWelcomeHome,aninteriordecoratorcorporation,initsfirstmonthofbusiness,areasfollows.

（1）Issuedstocktoinvestorsfor$12,000incash.

（2）Purchasedusedcarfor$8,000cashforuseinbusiness.

（3）Purchasedsuppliesonaccountfor$300.

（4）Billedcustomers$2,600forservicesperformed.

（5）Paid$200cashforadvertisingstartofthebusiness.

（6）Received$1,100cashfromcustomersbilledintransaction（4）.

（7）Paidcreditor$300cashonaccount.

（8）Paiddividendsof$400cashtostockholders.

（a）Foreachtransactionindicate（a）thebasictypeofaccountdebitedandcredited（asset,liability,stockholders’equity）;

（b）thespecificaccountdebitedandcredited（Cash,RentExpense,ServiceRevenue,etc.）;

（c）whetherthespecificaccountisincreasedordecreased;

and（d）thenormalbalanceofthespecificaccount.Usethefollowingformat,inwhichtransaction1isgivenasanexample.

AccountDebitedAccountCredited

（a）（b）（c）（d）（a）（b）（c）（d）

Trans-BasicSpecificNormalBas