会计英语 课后习题答案 作者 叶建芳 会计英语课后习题参考答案.docx
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会计英语会计英语课后习题答案课后习题答案作者作者叶建芳叶建芳会计英语课后习题参会计英语课后习题参考答案考答案SuggestedSolutionChapter11.Effectontheaccountingequation
(1)
(2)(3)(4)(5)(6)(a)Increaseinoneasset,decreaseinanotherasset.(b)Increaseinanasset,increaseinaliability.(c)Increaseinanasset,increaseincapital.(d)Decreaseinanasset,decreaseinaliability.(e)Decreaseinanasset,decreaseincapital.2.TransactionsAssets+/-Liabilities+/-Ownersequity+/-1+2+3-4+5+6-7-8+/-9-10-3.Describeeachtransactionbasedonthesummaryabove.Transactions1Purchasedlandforcash,$6,000.2Investmentforcash,$3,200.3Paidexpense$1,200.4Purchasedsuppliesonaccount,$800.5Paidownerspersonaluse,$750.6Paidcreditor,$1,5007Suppliesusedduringtheperiod,$630.4.AssetsLiabilitiesEquityBeginning275,00080,000195,000Add.investment48,000Add.Netincome27,000Lesswithdrawals-35,000Ending320,00085,000235,0005.(a)March31,20XXApril30,20XXAssetsCash4,5005,400Accountsreceivable2,5604,100Supplies840450Totalassets7,9009,950LiabilitiesAccountspayable430690EquityTinaPierce,Capital7,4709,260(b)netincome=9,260-7,470=1,790(c)netincome=1,790+2,500=4,290Chapter21.a.ToincreaseNotesPayable-CRb.TodecreaseAccountsReceivable-CRc.ToincreaseOwner,Capital-CRd.TodecreaseUnearnedFees-DRe.TodecreasePrepaidInsurance-CRf.TodecreaseCash-CRg.ToincreaseUtilitiesExpense-DRh.ToincreaseFeesEarned-CRi.ToincreaseStoreEquipment-DRj.ToincreaseOwner,Withdrawal-DR2.a.Cash1,800Accountspayable1,800b.Revenue4,500Accountsreceivable4,500c.Ownerswithdrawals1,500SalariesExpense1,500d.AccountsReceivable750Revenue7503.PrepareadjustingjournalentriesatDecember31,theendoftheyear.Advertisingexpense600Prepaidadvertising600Insuranceexpense(2160/12*2)360Prepaidinsurance360Unearnedrevenue2,100Servicerevenue2,100Consultantexpense900Prepaidconsultant900Unearnedrevenue3,000Servicerevenue3,0004.1.$388,4002.$22,5203.$366,6004.$21,800lossfortheyearendedJune30,2002:
$60,0002.DRJonNissen,Capital60,000CRincomesummary60,0003.post-closingbalanceinJonNissen,CapitalatJune30,2002:
$54,000Chapter31.DundeeRealtybankreconciliationOctober31,2009Reconciledbalance$6,220Reconciledbalance$6,2202.April7Dr:
NotesreceivableAcompany5400Cr:
AccountsreceivableAcompany540012Dr:
Cash5394.5Interestexpense5.5Cr:
Notesreceivable5400June6Dr:
AccountsreceivableAcompany5533Cr:
Cash553318Dr:
Cash5560.7Cr:
AccountsreceivableAcompany5533Interestrevenue27.73.(a)Asawhole:
theendinginventory=685(b)appliedseparatelytoeachproduct:
theendinginventory=6254.Thecostofgoodsavailableforsale=endinginventory+thecostofgoods=80,000+200,000*500%=80,000+1,000,000=1,080,0005.
(1)24,000+60,000-90,000*0.8=12000
(2)(60,000+24,000)/(85,000+31,000)*(85,000+31,000-90,000)=18828Chapter41.(a)second-yeardepreciation=(114,0005,700)/5=21,660;(b)second-yeardepreciation=8,600*(114,0005,700)/36,100=25,800;(c)first-yeardepreciation=114,000*40%=45,600second-yeardepreciation=(114,00045,600)*40%=27,360;(d)second-yeardepreciation=(114,0005,700)*4/15=28,880.2.(a)weighted-averageaccumulatedexpenditures(2008)=75,000*12/12+84,000*9/12+180,000*8/12+300,000*7/12+100,000*6/12=483,000(b)interestcapitalizedduring2008=60,000*12%+(483,00060,000)*10%=49,5003.
(1)depreciationexpense=30,000
(2)bookvalue=600,00030,000*2=540,000(3)depreciationexpense=(600,00030,000*8)/16=22,500(4)bookvalue=600,00030,000*822,500=337,5004.Situation1:
Jan1st,2008InvestmentinM260,000Cash260,000June30Cash6000Dividendrevenue6000Situation2:
January1,2008InvestmentinS81,000Cash81,000June15Cash10,800InvestmentinS10,800December31InvestmentinS25,500InvestmentRevenue25,5005.a.December31,2008InvestmentinK1,200,000Cash1,200,000June30,2009DividendReceivable42,500DividendRevenue42,500December31,2009Cash42,500DividendReceivable42,500b.December31,2008InvestmentinK1,200,000Cash1,200,000December31,2009Cash42,500InvestmentinK42,500InvestmentinK146,000Investmentrevenue146,000c.Ina,theinvestmentamountis1,200,000netincomereposedis42,500Inb,theinvestmentamountis1,303,500Netincomereposedis146,000Chapter51.a.June1:
Dr:
Inventory198,000Cr:
AccountsPayable198,000June11:
Dr:
AccountsPayable198,000Cr:
NotesPayable198,000June12:
Dr:
Cash300,000Cr:
NotesPayable300,000b.Dr:
InterestExpenses(fornotesonJune11)12,100Cr:
InterestPayable12,100Dr:
InterestExpenses(fornotesonJune12)8,175Cr:
InterestPayable8,175c.Balancesheetpresentation:
NotesPayable498,000AccruedInterestonNotesPayable20,275d.ForGreen:
Dr:
NotesPayable198,000InterestPayable12,100InterestExpense7,700Cr:
Cash217,800ForWestern:
Dr:
NotesPayable300,000InterestPayable8,175InterestExpense18,825Cr:
Cash327,0002.
(1)208Deferredincometaxisaliability2,400Incometaxpayable21,600209Deferredincometaxisanasset600Incometaxpayable26,100
(2)208:
Dr:
Taxexpense24,000Cr:
Incometaxpayable21,600Deferredincometax2,400209:
Dr:
Taxexpense25,500Deferredincometax600Cr:
Incometaxpayable26,100(3)208:
Incomestatement:
taxexpense24,000Balancesheet:
incometaxpayable21,600209:
Incomestatement:
taxexpense25,500Balancesheet:
incometaxpayable26,1003.a.1,560,000(20000000*12%*(1-35%)b.7.8%(20000000*12%*(1-35%)/20000000)4.maturityvaluenumberofinterestperiodsstatedrateperinterest-periodeffectiveinterestrateperinterest-periodpaymentamountperperiodpresentvalueofbondsatdateofissue1$10403.75%3%$0.375$11.732201010%12%217.74325100%12%08.055.NotesPayable14,400InterestPayable1,296AccountsPayable60,000+UnearnedRentRevenue7,200CurrentLiabilities82,896Chapter61.Mar.1Cash1,200,000CommonStock1,000,000Paid-inCapitalinExcessofParValue200,000Mar.15OrganizationExpense50,000CommonStock50,000Mar.23Patent120,000CommonStock100,000Paid-inCapitalinExcessofParValue20,000Thevalueofthepatentisnoteasilydeterminable,sousetheissuepriceof$12pershareonMarch1whichistheissuingpriceofcommonstock.2.July.1TreasuryStock180,000Cash180,000Thecostoftreasurypurchasedis180,000/30,000=60pershare.Nov.1Cash70,000TreasuryStock60,000Paid-inCapitalfromTreasuryStock10,000Sellthetreasuryatthecostof$60pershare,andsellingpriceis$70pershare.Thetreasurystockissoldabovethecost.Dec.20Cash75,000Paid-inCapitalfromTreasuryStock15,000TreasuryStock90,000Thecostoftreasuryis$60persharewhilethesellingpriceis$50whichislowerthanthecost.3.a.July1RetainedEarnings24,000DividendsPayablePreferredStock24,000b.Sept.1DividendsPayablePreferredStock24,000Cash24,000c.Dec.1RetainedEarnings80,000DividendsPayableCommonStock80,000d.Dec.31IncomeSummary350,000RetainedEarnings350,0004.a.Preferredstockgivesitsownercertainadvantagesovercommonstockholders.Thesebenefitsincludetherighttoreceivedividendsbeforethecommonstockholdersandtherighttoreceiveassetsbeforethecommonstockholdersifthecorporationliquidates.Corporationpayafixedamountofdividendsonpreferredstock.The7%cumulativetermindicatesthattheinvestorsearn7%fixeddividends.b.7%*120%*20,000=504,000c.Ifcorporationissueddebt,ithasobligationtorepayprincipald.Thedateofdeclarationdecreasethestockholdersequity;thedateofrecordandthedateofpaymenthavenoeffectonstockholders.5.a.Jan.15RetainedEarnings35,000AccumulatedDepreciation35,000Tocorrecterrorinprioryearsdepreciation.b.Mar.20LossfromEarthquake70,000Building70,000c.Mar.31RetainedEarnings12,500DividendsPayable12,500d.Apirl.15DividendsPayable12,500Cash12,500e.June30RetainedEarnings37,500CommonStock25,000AdditionalPaid-inCapital12,500Torecordissuanceof10%stockdividend:
10%*25,000=2,500shares;2500*$15=$37,500f.Dec.31DepreciationExpense14,000AccumulatedDepreciation14,000Originaldepreciation:
$40,000/40=$10,000peryear.BookvalueonJan.1,2009is$350,000(=$400,000-5*$10,000).Deprecationfor2009is$14,000(=$350,000/25).g.Thecompanydoesnotneedtomakeentryintheaccountingrecords.ButtheamountofCommonStock($10parvalue)decreases275,000,whiletheamountofCommonStock($5parvalue)increases275,000.Chapter71.Requirement1Ifrevenueisrecognizedatthedateofdelivery,thefollowingjournalentrieswouldbeusedtorecordthetransactionsforthetwoyears:
Year1Inventory480,000Cash/Accountspayable480,000TorecordpurchaseofinventoryInventory124,000Cash/Accountspayable124,000TorecordrefurbishmentofinventoryAccountsreceivable310,000Salesrevenue310,000TorecordsaleofgoodsonaccountCostofgoodssold220,000Inventory220,000TorecordthecostofthegoodssoldasanexpenseSalesreturns(I/S)15,500*Allowanceforsalesreturns(B/S)15,500Torecordprovisionforreturnofgoodssoldunder30-dayreturnperiod*5%of$310,000Warrantyexpense31,000*Provisionforwarranties(B/S)31,000Torecordprovision,attimeofsale,forwarrantyexpenditures*10%of$310,000Allowanceforsalesreturns12,400Accountsreceivable12,400Torecordreturnofgoodswithin30-dayreturnperiod.Itisassumedthereturnedgoodshavenovalueandaredisposedof.Provisionforwarranties(B/S)18,600Cash/Accountspayable18,600Torecordexpendituresinyear1forwarrantyworkCash297,600*Accountsreceivable297,600TorecordcollectionofAccountsReceivable*$310,000$12,400Year2Provisionforwarranties(B/S)8,400Cash/Accountspayable8,400Torecordexpendituresinyear2forwarrantyworkRequirement2Ifrevenueisrecognizedonlywhenthewarrantyperiodhasexpired,thefollowingjournalentrieswouldbeusedtorecordthetransactionsforthetwoyears:
Year1Inventory480,0