英文会计期末试卷

2007-2008学年第一学期

《会计学原理》（3）期末考试试题（A卷）

考试对象：商学院工商管理专业2006级1-5班

本期末试卷满分为100分，占课程总成绩的100%。

答题要求：

1．请将所有答案统一写在答题纸上，不按要求答题的，责任考生自负。

2．答题纸与试卷一同交回，否则酌情扣分。

Part One Key Term Appreciation (20%)

Required: each of the statements in this part is followed by 4 options marked 1), 2), 3) and 4) of which only one is most appropriate to fill in the blank in the statement. Note down the one that you consider should be the right one

1．

2．Accounting is a managerial information system serving relevant users of ______ .

1)managers, shareholders, creditors and customers

2)managers, shareholders, suppliers and customers

3)shareholders, creditors, customers and government agencies

4)managers, shareholders, creditors and government agencies

2. Accounting can be categorized into ______ by the targeted information users.

1 ) financial accounting and managerial accounting

2) accrual based accounting and cash based accounting

3) public accounting and private accounting

4) national accounting and international accounting

；

3. ______ are two commonly used inventory systems.

1) Perpetual and continuous systems

2) Perpetual and periodic systems

3) Perpetual and average systems

4) Periodic and average systems

4. Current assets are inclusive of ______.

1) cash, receivables, inventory and short-term investments

2) cash, payables, inventory and short-term investments

3) cash, receivables, payables and short-term investments

4) cash, receivables, payables and inventory

！

5. Non-current assets are inclusive of ______.

1) plan-property-and-equipment and natural resource

2) natural resource and long-term investments

3) long-term investments and intangibles

4) all above-mentioned categories of asset

6. The book value of a fixed asset can be determined by ______.

1) subtracting the accumulated depreciation from the fare value

2) subtracting the accumulated depreciation from the market value

3) subtracting the accumulated depreciation from the acquisition cost

4) subtracting the accumulated depreciation from the stated value

7. To expense the cost of an intangible asset like a patent over its useful life is termed as ______.

1) amortization

2) depreciation

3) depletion

4) write-off

8. The legal value of the common stock is the available ______.

1) par value or market value

2) par value or stated value

3) par value or fare value

4) par value of market value

9. dividends payment can only be declared and made out of _____.

1) either paid in capital or retained income

2) either paid in capital or after-tax net income

3) paid in capital

4) retained income

10. The convertible pond can be changed into common stock at the discretion of ______.

1) bond holders

2) issuing company

3) managers

4) board of directors

Part One Key Term Appreciation (60%)

Required: prepare journal entries for the following transactions occurred in a merchandising business, Thomson Co.,Ltd over last financial year. For simplicity it can by in the form of:

Dr. XXX(account name) XXX(dollar amount)

Cr. XXX(account name) XXX(dollar amount)

1.Under perpetual inventory system, acquired a batch of goods on credit. The purchase

price is $10,000.

2.Made full cash payment of the above mentioned purchase.

3.Made cash payment of the above purchase’s shipping expense in amount of $1,000.

4.Sold the above mentioned batch of goods to a customer on account. The selling price is

$20,000.

5.，

6.Simultaneously accounted for the cost of goods sold.

7.Issued 100,000 common stock shares at the par value (of $10 per share).

8.Issued 10,000 ponds at the face value (of $1,000 per bond)

9.Made cash purchase of a car expected to be used in operation for $10,000.

10.By the year end computed and accounted for the depreciation of the car in amount of

$1,000.

11.Repurchased 100 Company’s own issued common stock shares from the st ock exchange

for $11,000.

12.Acquired a patent from a high-tech company for $130,000 of cash.

13.Expensed a part of the above mention patent in amount of $13,000.

14.Purchased a batch of goods in amount of $10,000 by issuing to the supplier a 3-moth,

12% promissory note.

15.When the above mentioned note became due, made the cash payment for both the

face value and the interests of it.

16.—

17.Purchased a batch of common stock shares issued by another company for $1,230,000

for the purpose of long term holding. It stands for 15% of total ownership of the issuing company.

18.At the year end received a dividend of $10,000 from the issuing company.

19.Wrote off a sum uncollectible accounts receivable in amount of $20,000 by using the

direct write-off method.

20.Sold a batch of goods to a customer making the cash payment of the shipping expense

for the customer for $245,000.

21.A batch of sold goods was returned by the customer for the poor quality. The original

selling price was $100,000 and the cost of goods sold was $80,000 (note: 2 separate entries are needed for accounting for the event).

22.Agreed with a customer to return a part of previously collected cash as the sales

revenue in amount of $23,000 as the sale allowance for the poorer quality of the goods sold in comparison with the contracted.

23.Under a capital lease contract, a piece of equipment was rented. The total future

payment for the use of the equipment is $400,000.

24.Bought a policy from an insurance company for coming year for $12,000.

25.$12,000 was received from a customer, while the goods were not delivered.

26.The above mentioned goods were delivered according to the contract signed between

the Company and the customer.

27.;

28. A part of prepaid insurance expense is expensed in current period in amount of $1,000.

29.Closed Sales account which originally had a credit balance of $4,000,000.

30.Closed Cost of Goods Sold account which originally had a debit balance of 3,500,000.

31.Closed the Income Summary account of which the total credits were $300,000 more

than the total debits.

32.A cash dividend of $200,000 was declared by the board of directors.

Part Determination of Depletion Expense(20%)

Required: Calculate the annual depletion expense of natural resource owned by a manufacturing company, Higgins Manufacturers, Inc. with the following data by using the units-of-activity approach and prepare the pertinent journal entry to record it:

1.The cost of the natural resource: $120,000,000

2.The expected residual value: nil

3.|

4.The expected output 10,000,000 tons

5.This year’s output 50,000 tons

2007-2008学年第一学期

《会计学原理》（3）期末考试试题（A卷）

参考答案及评分标准

考试对象：商学院工商管理专业2006级1-5班

本期末试卷满分为100分，占课程总成绩的100%。

Part One Key Term Appreciation (20%)

3．Accounting is a managerial information system serving relevant users of ______ .

5)managers, shareholders, creditors and customers

6)managers, shareholders, suppliers and customers

7)shareholders, creditors, customers and government agencies

8)managers, shareholders, creditors and government agencies √

2. Accounting can be categorized into ______ by the targeted information users.

1 ) financial accounting and managerial accounting √

2) accrual based accounting and cash based accounting

3) public accounting and private accounting

…

4) national accounting and international accounting

3. ______ are two commonly used inventory systems.

1) Perpetual and continuous systems

2) Perpetual and periodic systems √

3) Perpetual and average systems

4) Periodic and average systems

4. Current assets are inclusive of ______.

1) cash, receivables, inventory and short-term investments

2) cash, payables, inventory and short-term investments √

3) cash, receivables, payables and short-term investments

}

4) cash, receivables, payables and inventory

5. Non-current assets are inclusive of ______.

1) plan-property-and-equipment and natural resource

2) natural resource and long-term investments

3) long-term investments and intangibles

4) all above-mentioned categories of asset√

6. The book value of a fixed asset can be determined by ______.

1) subtracting the accumulated depreciation from the fare value

2) subtracting the accumulated depreciation from the market value

3) subtracting the accumulated depreciation from the acquisition cost √

【

4) subtracting the accumulated depreciation from the stated value

7. To expense the cost of an intangible asset like a patent over its useful life is termed as ______.

1) amortization √

2) depreciation

3) depletion

4) write-off

8. The legal value of the common stock is the available ______.

1) par value or market value

2) par value or stated value √

3) par value or fare value

4) par value of market value

9. dividends payment can only be declared and made out of _____.

1) either paid in capital or retained income

2) either paid in capital or after-tax net income

3) paid in capital

4) retained income √

10. The convertible pond can be changed into common stock at the discretion of ______.

1) bond holders √

2) issuing company

3) managers

4) board of directors

Part One Key Term Appreciation (60%)

Required: prepare journal entries for the following transactions occurred in a merchandising business, Thomson Co.,Ltd over last financial year. For simplicity it can by in the form of:

Dr. XXX(account name) XXX(dollar amount)

Cr. XXX(account name) XXX(dollar amount)

1.Under perpetual inventory system, acquired a batch of goods on credit. The purchase

price is $10,000. （Dr. Merchandise Inventory, Cr. Accounts Payable）

2.Made full cash payment of the above mentioned purchase. (Dr. Accounts Payable, Cr.

Cash)

3.Made cash payment of the above purchase’s shipping ex pense in amount of $1,000. (Dr.

Merchandise Inventory, Cr. Cash)

4.【

5.Sold the above mentioned batch of goods to a customer on account. The selling price is

$20,000. (Dr. Accounts Receivable, Cr. Sales)

6.Simultaneously accounted for the cost of goods sold. (Dr. Cost of Goods Sold 11,000, Dr.

Merchandise Inventory 11,000)

7.Issued 100,000 common stock shares at the par value (of $10 per share). (Dr. Cash, Cr.

Common Stock)

8.Issued 10,000 ponds at the face value (of $1,000 per bond) (Dr. Cash, Cr. Bond Payable)

9.Made cash purchase of a car expected to be used in operation for $10,000. (Dr. Property,

Plant and Equipment, Cr. Cash)

10.By the year end computed and accounted for the depreciation of the car in amount of

$1,000. (Dr. Depreciation Expense, Cr. Accumulated Depreciation)

11.Repurchased 100 Company’s own issued common stock shares from the stock exchange

for $11,000. (Dr. Treasury Stock, Cr. Cash)

12.Acquired a patent from a high-tech company for $130,000 of cash.(Dr. Intangible Asset,

Cr. Cash)

13.Expensed a part of the above mention patent in amount of $13,000. (Dr. Amortion

Expense)

14.Purchased a batch of goods in amount of $10,000 by issuing to the supplier a 3-moth,

12% promissory note.(Dr. Merchandise Inventory, Cr. Notes Payable)

15.）

16.When the above mentioned note became due, made the cash payment for both the

face value and the interests of it. (Dr. Notes Payable 10,000; Interest Expense 300, Cr.

Cash 10,300)

17.Purchased a batch of common stock shares issued by another company for $1,230,000

for the purpose of long term holding. It stands for 15% of total ownership of the issuing company.(Dr. Stock Investment, Cr. Cash)

18.At the year end received a dividend of $10,000 from the issuing company. (Dr. Cash, Cr.

Dividend Revenue)

19.Wrote off a sum uncollectible accounts receivable in amount of $20,000 by using the

direct write-off method.(Dr. Bad Debt Expense, Cr. Accounts Receivable)

20.Sold a batch of goods to a customer making the cash payment of the shipping expense

for the customer for $245,000.(Dr. Freight-out Expense, Cr. Cash)

21.A batch of sold goods was returned by the customer for the poor quality. The original

selling price was $100,000 and the cost of goods sold was $80,000 (note: 2 separate entries are needed for accounting for the event).(Dr. Sales Return and Allowance, Cr.

Accounts Payable) (Dr. Merchandise Inventory, Cr. Cost of Goods Sold)

22.Agreed with a customer to return a part of previously collected cash as the sales

revenue in amount of $23,000 as the sale allowance for the poorer quality of the goods sold in comparison with the contracted. (Dr. Sales Return and Allowance, Cr. Cash)

23.Under a capital lease contract, a piece of equipment was rented. The total future

payment for the use of the equipment is $400,000. (Dr. Leased Asset, Cr. Lease Liability) 24.Bought a policy from an insurance company for coming year for $12,000. (Dr Prepaid

Insurance Expense, Cr. Cash)

25.$12,000 was received from a customer, while the goods were not delivered. (Dr.

Unearned Revenue, Cr. Cash)

26.The above mentioned goods were delivered according to the contract signed between

the Company and the customer. (Dr. Unearned Revenue, Cr. Sales)

27.A part of prepaid insurance expense is expensed in current period in amount of $1,000.

(Dr. Insurance Expense, Cr. Prepaid Insurance Expense)

28.Closed Sales account which originally had a credit balance of $4,000,000. (Dr. Sales, Cr.

Income Summary)

29.Closed Cost of Goods Sold account which originally had a debit balance of 3,500,000. (Dr.

Income Summary, Cr. Cost of Goods Sold)

30.Closed the Income Summary account of which the total credits were $300,000 more

than the total debits. (Dr. Income Summary, Cr. Retained Earnings)

31.A cash dividend of $200,000 was declared by the board of directors. (Dr. Retained

Earnings, Cr. Dividend Distributable)

Part Determination of Depletion Expense(20%)

6.The cost of the natural resource: $120,000,000

7.The expected residual value: nil

8.The expected output 10,000,000 tons

9.This year’s output 50,000 tons

1.$120,000,000/10,000,000=$12 per ton of output

2.$12 per ton*50,000=$600,000 of total amount of depletion expense which should be

recognized and recorded in current year.