南开15春《会计专业英语》期末复习资料

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《会计英语》复习资料
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* c; i( z+ a' k& z" p课程名称        会计英语
; M3 a3 J+ h0 J" l$ Z教
材
信
息        名称        Financial accounting （财务会计）
        出版社        高等教育出版社
        作者        Carl S.Warren等    毕晓方 改编
        版次        2005年2月第1版
参考教材                会计审计专业英语
罗殿英等编著
5 R% n; X0 r4 Q0 \; r机械工业出版社
2008年6月第1版

注：因“会计英语”教材印刷量一般比较小，教材变动可能比较频繁，教材内容与课件内容若不相符，请学习和考试主要参考教学课件。本教材章节安排与课件章节有所不同，以下各章为课件中的顺序，而页码为教材页码。

一般考试题型：
一、        英译汉与汉译英
二、        单项选择题
三、        判断题
四、        问答题
五、        业务题

+ @# \, x, s' }9 h# z- q* E各章要求的主要内容:
0 F, y& }8 \8 j4 \: MChapter 1 Accounting and Its Environments会计与环境
9 w% N8 U: \* j+ n（参考教材第1章）
: Y: b+ |1 m9 c7 t6 Q5 D1 A+ J1.1 Nature and Content of Accounting 会计的本质和内容
+ E* @6 [# E1 c, M# J4 d领会会计的环境，掌握不同类型企业的特征；
掌握会计的目的和会计信息使用者的类型；
领会会计的领域和会计程序。
7 E0 `( _! [( _; m. H/ z1.2 Objectives of Financial Reporting 财务报告的目标
掌握财务报告的目标。
1.3 Underlying Assumptions 基本假设
领会会计假设

, N: m* _0 B& f* yChapter 2 Accounting Concepts and Principles 会计概念与原则（参考教材第1章）
6 G% W" l9 k2 `5 e+ \* b2.1 Qualitative Characteristics of Useful Accounting Information 有用会计信息的质量特征       
, V1 v7 C8 J9 j. H4 i9 j   了解会计信息的质量特征。
2.2 Elements of the Financial Statements 财务报表要素
6 P; F3 }6 a0 y7 D' \9 d   掌握财务报表要素的含义。
2.3 Recognition and Measurement Principles 确认与计量的原则
6 B3 X0 A$ {  Q# M  n   掌握财务报表要素的的确认与计量原则。

) X: i: r7 Y' Y) {+ n# M( ~5 A7 z3 hChapter 3   Financial Statements 财务报表
- B( |9 u; H1 L8 S（参考教材第1章和第16章）
3.1 Balance Sheet 资产负债表
/ R" }7 ~+ z. c7 M   领会资产负债表的定义和编制。
3.2 Income Statement and Statement of Changes in Equity利润表与所有者权益变动表
# }  l1 L# q1 ^7 q2 ^   领会收益表的定义和编制，了解所有者权益变动表的编制。
3.3 Statement of Cash Flows现金流量表
* l+ H; |0 B' _. }) j      领会现金流量表的含义和编制方法。
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Chapter 4 Accounting Cycle 会计循环（参考教材第1章至第4章）
4.1 The accounting equation 会计等式
, U4 G" K, |% D& P- C   掌握会计等式的结构和经济业务对等式的影响。
4.2 Double-Entry Bookkeeping 复式簿记
   掌握复式记账法的应用。
0 O  P# @+ {: S* }4.3 Transactions and Balance Sheet Accounts经济业务与资产负债表账户
/ ~7 A: e/ f! K0 N7 j3 ?( ^   能够分析企业的经济业务，并能领会其影响。
$ @& f7 q3 B" M  Z+ s/ F  }4.4 Journalizing and Posting 登记日记账与过账
   能够在日记账中编制分录，并过账。
4.5 Trial Balance 试算表
  h( ~6 f5 x( a7 N7 H2 F   领会试算表的用途和编制
4.6 The Need for Adjusting Entries 调整分录
' g7 ]& l9 l. x4 T' U   掌握调整分录的编制方法，领会其影响。
4.7 The Work Sheet 工作底稿
   了解工作底稿的用途和编制。
% Q7 ]3 t" J1 t9 A1 K  U4.8 The Closing Process 结账
* M- s2 G& |2 P+ G1 W   掌握结账分录的用途和编制方法。
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" ]+ ?* @4 m/ e  h: o2 [8 hChapter 5 Current Assets 流动资产
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" t7 Z0 @0 _+ j  n+ L5.1 Cash 现金
领会现金的内容和内部控制方法，理解领用现金的会计处理。
% g! T7 a6 Y/ a5.2 Current Receivables 短期应收款项
理解应收款的分类；掌握应收账款坏账的处理方法。
5.3 Inventory 存货
) L% l1 x) a  A& q/ ^   了解存货的种类；
2 U+ j& N: T3 A) X) f  `$ i掌握存货的盘存制度；
掌握存货成本流动假设和计价方法；
了解存货估计方法。
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Chapter 6 Investments, Plant Assets and Intangibles Assets
! f1 N+ l9 _8 e1 E: v" ]" w' G投资、固定资产与无形资产（参考教材第10章、第14章和第15章）
6.1        Investments in Equity and Debt Securities 权益性与债务性证券投资
领会证券的分类和投资类型；
2 k/ T6 r. P6 N( q5 K领会投资的目的和投资的计价；
6 r, y7 K3 e2 e4 N& J8 _! ~掌握证券投资的会计处理方法
6.2        Plant Assets （Fixed Asset） 固定资产
领会固定资产的特点；
掌握固定资产的折旧方法；
领会固定资产处置的方法。
6.3        Intangibles 无形资产
领会无形资产的特征；
! i# \1 v! W. m0 N6 c了解无形资产的确认与摊销；
: [) t3 t! C, l* o领会资本性支出与收益性支出的划分意义。
. R& t6 N( c$ }' m# \8 _7 H( J  D- t/ Z% W6.4        Natural Resources and Depletion自然资源与折耗
了解自然资源折耗的会计处理。
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# [$ g0 D7 h, wChapter 7 Liabilities  负债（参考教材第11章和第15章）
; |# b9 p! j0 e* W2 S- C' I/ \7.1 Current Liabilities 流动负债
   掌握金额确定的流动负债的会计处理；
; N" s5 |4 D. T" [3 D  D5 [   领会金额取决于经营成果的流动负债的会计处理。
4 x5 x. b' Q. Q3 `8 |* `7.2 Bonds Payable and Convertible Bonds 应付债券与可转换债券
   掌握公司债券的会计内容；
   理解可转换债券；
# |* k2 Q# ?5 C. j   掌握长期债券投资的会计处理。
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Chapter 8 Owners’ Equity所有者权益（参考教材第12章）
4 @" D- @. Y1 m" D1 ~  m# J8.1 Contributed Capital 实收资本
8 c% Y- R; e: _   领会公司的特征；
   领会各类股东的权利；
   掌握股票发行的会计处理；
理解股票分割的意义。
8.2 Retained Earnings 留存收益
   掌握各类股利的特征和会计处理方法；
. F* b4 |" V& L" r   领会库藏股的会计方法。

0 V- {+ t2 J: C$ ^- OChapter 9 Performance经营成果（参考教材第6章和第14章）
7 `! P2 V1 c7 F; r9.1 Income 收益       
领会收入与利得的区别；
掌握收入的确认、计量和会计处理方法。
9.2        Expenses费用
2 G9 I' S7 u% y  A  y0 \" t+ W掌握费用的确认、计量和会计处理方法。
9.3        Unusual Items 非正常项目
了解不同非常项目的意义和会计处理。

Chapter 10   Financial Statement Analysis 财务报表分析
" w' C& a% @1 K6 C（参考教材第17章）
10.1 Framework for Financial Statement Analysis 财务报表分析框架
领会财务报表分析的目的和各个报表的作用。
& Z5 N0 C3 T( S' k. e10.2 Techniques of Analysis 分析技术
" L* K. @( D9 _% x$ G- b! Q$ ^掌握财务报表的分析方法——横向分析、纵向分析和比率分析。

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: X1 u+ ?. W2 f' K一、英译汉与汉译英：
$ s4 t+ e+ u1 ]1 y6 [第一章
8 d% |5 l- X- E  H2 `Business 企业P2 参见P2
Sole proprietorship独资企业P3参见P3
; a! C% @" }; N+ w9 A# KPartnership合伙P3参见P3
2 l4 ~; f7 ?+ x. r4 ACorporation公司P3参见P3
/ ]3 ^' H0 L4 ^5 EAccounting会计P6参见P6
Accounting process会计程序 参见P7
; f) H9 N" M$ w4 U( X( D) V0 A- CFinancial accounting财务会计P10参见P10
Managerial accounting管理会计P10参见P10
; U) i' O* a$ V4 ^) O3 D7 K" LBalance sheet资产负债表P17参见P17
& [$ b% L# S' q% T8 v1 tIncome statement收益表（利润表）P17参见P17
8 Q( R5 _# m( e8 k$ @3 gStatement of cash flow现金流量表参见P17
; w! X! P! s. d& y! D9 pFinancial statement财务报表P17参见P17
/ @1 q, A8 t+ a6 N, TAccrual basis应计制（权责发生制）P71参见P71
Cash basis现金制（收付实现制）P71参见P71
Economic entity/ business entity经济实体、会计主体P11参见P11
6 r0 M  @" e1 y, o' Y, KGoing concern持续经营
Unit of measurement货币计量P12 参见P12
Accounting period会计期间P71参见P71
; \, ]+ f4 h3 s8 R# O第二章
# H" ~0 F0 m6 |* q% H, `# mAsset资产P32参见P32
4 ~' B- u9 }4 A; T3 lLiability负债P32参见P32
% h' }. V1 x! `8 y  p' B3 BEquity权益P32参见P32
Revenue收入P33参见P33
Expense费用P33参见P33
2 X) W1 q; c  N7 C* d# b! ~" Z1 A& J% ]Income收益P18参见P18
1 `' Q: e- V8 Y( rHistorical cost历史成本
Current cost现行成本
0 d" A  N: R- p5 fPresent value现值381参见P381
  E8 k& f2 \3 D' d0 c* K3 CRealizable value可实现价值
, ?+ G2 R8 Y0 ~- n8 \Income tax所得税参见P350
9 z1 M$ o6 q# q/ E! ~6 fFinancial position财务状况
Performance业绩
8 S  Y, S5 t3 U3 L/ h* }第三章
4 r$ @3 p8 C6 e5 m; yCurrent assets流动资产99参见P99
Current liabilities流动负债99参见P99
3 ^- Q+ l" r  ]  N5 j( LAccrued liability应计负债72参见P72
) K0 M+ L! K9 N; U2 r! c7 C1 f9 |Administrative expense管理费用161参见P161
Depreciation折旧79参见P79
Intangible assets无形资产272参见P272
: c% ~5 t; n6 |Non-current asset (fixed asset)非流动资产（固定资产）259 参见P259
Property, plant and equipment厂场资产259 参见P259

第四章
0 T- C9 j  y6 k/ I" Q2 h5 g. `! }: }Operating cycle经营循环158参见P158
* Z$ h, W2 x& G3 oAccounting cycle会计循环94参见P94
Account账户32参见P32
' Z5 w' k1 K+ v8 dAccounting equation会计等式12参见P12
Trial balance试算平衡（试算表）53参见P53
' F7 r3 q0 ]* c$ FJournal日记账35参见P35
Ledger分类账32参见P32
! e9 V8 w' G9 ^6 ?Adjusting entry调整分录72参见P72
Debit借方33参见P33
9 L- J; O! p7 U- H$ p4 lCredit贷方34 参见P34
! i# [: J* n; w1 oDouble-entry system复式记账法38参见P38
Post过账40参见P40
Deferred expense递延费用72参见P72
6 [) [/ k- C8 y7 `1 bDeferred revenue递延收入72参见P72
Unearned revenue未赚得收入（预收收入、递延收入）72参见P72
Accrued revenue应计收入72参见P72
; |# r1 m5 x$ P' }8 o* `0 h/ pClosing entry结账分录102参见P102
" f  m$ f8 w$ \  ?8 N2 G8 }; O第五章
Cash    现金   193 参见P193   
1 S& N' w6 [9 h  U: r. kCheck        支票        197 参见P197
Bank statement 银行对账单        198 参见P198               
' f) s- j, g5 c: e9 V, B3 o# fBank Reconciliation银行余额调节表200 参见P200
8 @5 M  Q0 k$ P, U* t; V$ qPetty cash fund零用现金、备用金202 参见P202
Cash equivalents现金等价物
Accounts Receivable  应收账款210 参见P210
Other Receivables其他应收款210参见P210
9 F7 V6 M% c, J0 @Notes Receivable应收票据210参见P210
Uncollectible Accounts Expense坏账费用 212 参见P212
Bad debt坏账212参见P212
Allowance Method备抵法213
& q/ Z( S- o7 ^5 J* n0 |$ W* \Allowance for Doubtful Accounts备抵坏账213参见P212
Direct Write-Off Method直接冲销法217参见P217
Contra Asset  account 资产抵销账户213参见P213
Inventory存货                235 参见P235
, ~6 b. T& b! GCost flow assumption成本流动假设238参见P238
Average Cost Method平均成本法243参见P243
9 y) Y5 T/ y; M& a4 MFirst-in, First-out (FIFO) Method先进先出法240参见P240
Last-in, First-out (LIFO) Method后进先出法241参见P241
Periodic system定期盘存制161参见P161
perpetual system永续盘存制161、236 参见P161,P236
第六章
% Q) e- O- l5 q/ n/ B+ R* z6 WInvestment 投资361参见P361
marketable securities有价证券361 参见P361
financial instruments金融工具
Debt securities 债务性证券388 参见P388
, b; z  Y9 l" s% T3 ?Equity securities权益性证券361参见P361
Trading securities交易性证券361参见P361
4 ]7 _. C4 s/ b& KAvailable-for-sale securities可供出售证券361参见P361
Held-to-maturity debt securities持有至到期债务性证券388参见P388
Fair value公允价值
6 p6 h( f' n8 I. p, w; KEquity method权益法363参见P363
Cost method成本法363参见P363
Accumulated Depreciation累计折旧79 参见P79
6 m* P; N6 ~: h" kResidual Value残值261参见P261
Straight-line Method直线法262 参见P262
' v3 H$ b' c: U. o8 yDeclining-Balance Method余额递减法263参见P263
accelerated depreciation methods加速折旧法263 参见P263
6 D; z/ Z- ?# w  ~9 t+ _+ M4 l$ r, W: rImpairment of Fixed Asset固定资产减值354参见P354
$ \. s0 S3 |* kAmortization摊销273参见P273
Capital Expenditures资本性支出265参见P265
, ?4 t3 J* c' M( @. URevenue Expenditures收益性支出265参见P265
/ J. x! ?( a8 I6 ^' b) y' e, V4 z6 t第七章
! x" V# C6 R+ pAccounts payable 应付账款285参见P285
: z- ^( w; L# uNotes payable应付票据285参见P285
Product Warranty产品质量担保288参见P288
; k3 X# L5 R! W- W$ tbond sinking fund公司债偿债基金387参见P387
Bonds Payable 应付公司债券383参见P383
3 Z$ y- h4 u. ]& ~Long-Term Liabilities长期负债
bonds 债券378参见P378
) b8 l$ r9 B# w6 \& p& [8 T$ d- jDiscount 折价380参见P380
8 q: b& A. i5 y, ?, {  z; RPremium 溢价383参见P383
4 ~5 S7 c' Z+ W% n! m% ]% b# [0 [Convertible Bonds可转换债券380参见P380
第八章
( @4 U3 W* k% W6 f4 E  M/ p9 v4 n0 }Owners’ Equity 所有者权益302参见P302
% y, D. m  h4 G! K7 ?Stockholder’ equity股东权益302参见P302
7 m' _) ?( G+ [% c; K8 `3 x# r& ICommon Stock普通股303参见P303
Preferred Stock优先股303参见P303
9 c' P  e0 ]$ {8 @' w3 GAdditional Paid-in Capital 增缴资本、股本溢价302参见P302
Retained Earnings留存收益313参见P313
Treasury Stock库藏股307参见P307
Stock Splits股票分割308参见P308
Cash Dividend现金股利309参见P309
stock dividend股票股利310参见P310
3 D$ _5 t+ j  N5 @9 `, R第九章
7 t( m7 o/ l' E0 j$ M4 q5 |% nPerformance 业绩
Revenue 收入174 参见P174
$ v3 h% W' m1 \Gains利得
3 X4 s3 S4 N6 ?) U+ cExpenses费用
Recognition确认
; [4 }9 _# z% \7 G$ hMeasurement计量
2 l+ \/ \. W; g2 E3 g* ~Operating expenses营业费用161参见P161
Selling expenses销售费用161参见P161
Administrative expenses管理费用161 参见P161
Profit 利润
% k) M0 N8 @% J2 Y( f# Q7 r; LNet income 净收益
" }! ]' e3 u# e1 I6 K( i$ XSales销售收入158参见P158
9 j# u8 ]7 T" N: M* J! }Sales discounts销售折扣159、165参见P159,P165
* `; i+ S9 F8 d0 y8 B- o# eCost of merchandise sold销售成本        159 参见P159
Gross profit毛利161参见P161
Losses损失
' L( v* _4 A7 C, TTrade discounts 商业折扣172参见P172
cash discounts现金折扣168参见P168
Income tax所得税350参见P350
Unusual Items 非正常项目353参见P353
第十章
8 S6 M, U9 @* m6 {2 ^% L8 iCommon-Size Statements共同比报表440参见P440
Horizontal Analysis横向分析436参见P436
trend analysis趋势分析436参见P436
& p- L8 U+ ~+ EVertical Analysis纵向分析438 参见P438
Profitability获利能力441参见P441
# m7 E6 d! K( k) A! I* l' F% ]Solvency偿债能力441参见P441
9 ]" a) t9 d* S9 p5 W# MAccounts Receivable Turnover   应收账款周转率 444参见P444
1 a& Y; b" Q. U, Z# VCurrent Ratio流动比率  442参见P442
0 [2 ]) f+ p2 j8 a" l- J/ SInventory Turnover存货周转率 444参见P444
3 m9 f2 t$ M+ j, YQuick Assets速动资产443参见P443
Rate Earned on Stockholders’ Equity股东权益报酬率449参见P449
6 [/ |( W% ?& K2 ^9 J5 vEarnings per Share on Common Stock普通股每股收益        450参见P450
Rate Earned on Total Assets总资产报酬率448参见P448
Leverage财务杠杆
! t3 z/ W$ _- h2 g2 D. a/ F/ IPrice-Earnings (P/E) Ratio市盈率450参见P450
Working Capital营运资本442参见P442

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二、单项选择（红字为正确资料）：

6 H; ~2 p' ]) V! xFinancial reports are used by
a.        management
( R2 E. w* H) k4 xb.        creditors
4 l- w6 q: R* Bc.        investors
d.        all of the above
. Y; r9 M: e  P2 {5 x
. K1 h8 r8 ^. b3 g7 ~, \& ?★考核知识点:企业利益相关者  P6参见P6
& |7 @$ [2 C) W5 o附2.8 参考课件第1章
: |, g& F* v( l+ B6 E, n* YStakeholders use accounting reports as a primary source of information on which they base their decisions. The stakeholders include owners, managers, employees, customers, creditors, government agencies.

1. For accounting purposes, the business entity should be considered separate from its owners if the entity is（  ）
a.        a corporation
b.        a proprietorship
( ^* |  K0 I5 Z9 kc.        a partnership
3 S2 h% W  |0 S+ ed.        all of the above

★考核知识点:会计假设（会计主体）  P11参见P11

! X& O9 }& ]) k# f2. Which of the following best describes accounting?
/ H5 w; ~+ Q! Ra.        records economic data but does not communicate the data to users according to any specific rules
1 U6 `( S+ S  r3 G0 h. h6 \b.        is an information system that provides reports to stakeholders
c.        is of no use by individuals outside of the business
( }' g& H) \/ I3 j/ td.        is used only for filling out tax returns and for financial statements for various type of governmental reporting requirements

★考核知识点:会计  P6 参见P6

3. Using accrual accounting, expenses are recorded and reported only
a.        when they are incurred, whether or not cash is paid
b.        when they are incurred and paid at the same time
0 g; m5 ^1 G* Pc.        if they are paid before they are incurred
d.        if they are paid after they are incurred

; Y+ ^( }7 V' e( M' o0 P( k$ ], M★考核知识点:应计制  P71参见P71

1 D9 Y3 E8 R4 J( P6 |; n# W4. The measurement bases exclude(  )
6 ~* ]* ~" [, x# fa.        Historical cost
, j0 R( p7 P1 pb.        Current cost
4 L  z! d" {. @9 V$ `c.        Sale price
d.        Present value

★考核知识点:会计计量  

5. Debts owed by a business are referred to as（  ）
1 w; l2 M' D/ |' s$ ]* Na.        accounts receivables
% S+ ?2 }9 D0 J- d0 Q$ w  Y/ Ib.        equities
c.        owner’s equity
d.        liabilities

5 ^2 c6 Y' I( `  g5 c3 w6 i3 x3 T$ w  o& P★考核知识点:负债  P12 参见P12
" v5 e1 H0 q* M$ R0 G5 |
! R2 d$ n8 A$ L4 ~. Y$ k0 u6. Which of the following financial statements reports information as of a specific date?
0 {$ U  W6 C0 }. w2 E% f+ l8 Ra.        income statemen
4 c% R: Z" C% fb.        statement of owner's equity
! s4 F) `7 X5 [" n0 \. K+ Uc.        balance sheet
d.        statement of cash flows
; R! O! a* L# W% I. ]/ s
( ^. ~# r4 w: u: W" N6 s★考核知识点:资产负债表  P17 参见P17
- m* }; _. n  ~3 Q
7. Cash investments made by the owner to the business are reported on the statement of cash flows in the
( e; E6 V7 E$ a; ta.        financing activities section
b.        investing activities section
c.        operating activities section
d.        supplemental statement

3 ^8 g' k' J+ y. @3 T) W★考核知识点:现金流量表  P20 参见P20
  B) g* t$ o, [+ r! q

% J1 O0 V+ m0 L4 O8. The accounting equation may be expressed as
% F, j- O6 f) D8 V$ ya.        Assets = Equities - Liabilities
b.        Assets + Liabilities = Owner's Equity
" l& l  q) P2 C- k( ~c.        Assets = Revenues - Liabilities
d.        Assets - Liabilities = Owner's Equity

! j6 W7 ^8 N' l7 Z$ a8 i" n' @4 S★考核知识点:会计等式  P12参见P12
# t; q, p$ _/ t. d4 z  e/ L9. Which of the following groups of accounts have a normal credit balance?
a.        revenues, liabilities, capital
, h0 l3 m2 D" V$ F( {b.        capital, assets
  ]! |9 U- c2 e( L' m6 T+ Mc.        liabilities, expenses
- H1 G  |* p( p$ {8 m, G% F1 l+ r, S' id.        assets, expenses

★考核知识点: 帐户结构  P34 参见P34
* S, O& L: w' ^) i$ m
10. Which of the following groups of accounts have a normal debit balance?
1 D/ t5 ]9 k" W/ j& ga.        revenues, liabilities, capital
b.        capital, assets
c.        liabilities, expenses
9 z8 H$ ^* t, e3 M, ~7 Ed.        assets, expenses
★考核知识点: 帐户结构  P34参见P34
; m5 J2 o' H0 h; m
$ B- w" C  [  ^11. Which of the following types of accounts have a normal credit balance?
. ?  U7 c$ A/ pa.        assets and liabilities
) D6 K2 G8 T9 W1 e) yb.        liabilities and expenses
" Z3 `1 y3 u. A+ {8 zc.        revenues and liabilities
d.        capital and drawing
% G5 f; O. r$ _★考核知识点: 帐户结构  P34参见P34

9 N! ^$ I+ Y* ^" M- k" O3 z1 h12. In the accounting cycle, the last step is（  ）
a.        preparing a post-closing trial balance
b.        preparing the financial statements#
4 T0 f1 [8 y$ `3 f/ d+ Mc.        journalizing and posting the adjusting entries
d.        journalizing and posting the closing entries
5 X# z0 L. P. ~! h考核知识点: 会计循环  P95参见P95
: Z' l8 _( }) q$ _, f (7) A post-closing trial balance is prepared.

13. Which of the following should not be considered cash by an accountant?
% I4 Q) G% F; e7 E, Sa.        coins
  h3 ]" w& D! Xb.        bank checking accounts
c.        postage stamps
d.        Petty cash funds
: q; M/ }+ @: s/ g, t& _( o考核知识点: 现金  P193参见P193

' ^: o5 \) }9 \9 q! L
% ]+ Y0 k& A6 L/ ~* m+ H/ U; o
14. A bank reconciliation should be prepared periodically because （  ）
a.        the depositor's records and the bank's records are in agreement
b.        the bank has not recorded all of its transactions
c.        any differences between the depositor's records and the bank's records should be determined, and any errors made by either party should be discovered and corrected
* A! k7 D* A4 N  Y. s5 z6 U, qd.        the bank must make sure that its records are correct
( z% o, ]0 q9 D, K6 D! B' w考核知识点: 银行余额调节表  P200参见P200
. d! k4 e2 c, O. K- F15. The amount of the outstanding checks is included on the bank reconciliation as a(n) （  ）
a.        deduction from the balance per depositor's records
b.        addition to the balance per bank statement
5 S* z/ A8 p7 X6 Z- ]c.        deduction from the balance per bank statement
$ J9 H5 i  _6 B. Od.        addition to the balance per depositor's records
考核知识点: 银行余额调节表  P200参见P200
. `0 S+ B7 `* ^, M) l2 S( x  B7 H, z
* [- R6 j# F  K) C% R6 O4 ?16. The asset created by a business when it makes a sale on account is termed     
9 N. H& p' ?. h. r7 |) q' \a.        accounts payable
9 b- A! |) v+ i4 W7 R  F/ jb.        prepaid expense
5 G- P. u  }6 @6 p4 Xc.        accounts receivable
% t1 S$ k: Q( \, i; gd.        unearned revenue
* O% ?  p  G) C" ]9 Q★考核知识点:应收账款  P15、210参见P15,P210
0 p/ a; q( S( Y1 V' H8 \
6 B; A9 L; h% Q$ w5 @/ C+ f  c17. What is the type of account and normal balance of Allowance for Doubtful Accounts?
, F$ v2 k3 n5 O. S/ Ca.        Contra asset, credit
b.        Asset, debit
5 s- }/ a& O1 ec.        Asset, credit
; N7 \( }& q7 y6 W- s8 ]d.        Contra asset, debit
! k9 P7 ^7 A/ y0 ~★考核知识点: 应收账款坏账  P213参见P213
. p0 A* ~! j. r3 y/ a2 f
8 i/ m& p5 z1 n% p: c9 l
+ i( ~9 _* e& S3 ]- J8 W18. The term "inventory" indicates （  ）
a.        merchandise held for sale in the normal course of business
b.        materials in the process of production or held for production
  b  A- F/ J% N$ _7 r/ fc.        supplies
1 j( [  M1 t7 \. V; g# J# ~9 ~d.        both A and B
★考核知识点: 存货  P235参见P235

19. Merchandise inventory at the end of the year was understated. Which of the following statements correctly states the effect of the error?
a.        net income is understated
b.        net income is overstated
c.        cost of merchandise sold is understated
& G" b* D7 V' {  e; \6 \; B% Md.        merchandise inventory reported on the balance sheet is overstated
; |# V! i  d$ i& ?! A! ^★考核知识点: 存货  P237 参见P237
( S2 o. e! ^% x7 {0 W. m
2 a3 ]0 U4 ~1 m4 O20.Merchandise inventory at the end of the year is overstated. Which of the following statements correctly states the effect of the error?
0 J- g* e' v* c/ w# Da.        cost of merchandise sold is overstated
b.        owner's equity is overstated
c.        gross profit is understated
- ^0 c5 t2 |8 p! V: I$ u; U$ V" j3 V' Id.        net income is understated
★考核知识点: 存货  P237 参见P237

! }1 d& G. q+ C; z4 O6 g4 }. Y21.The inventory method that assigns the most recent costs to cost of good sold is
a.        FIFO
4 d4 G) C  {* ab.        LIFO
c.        average
d.        specific identification
★考核知识点: 存货  P241 参见P241
; N1 o) t* D0 _7 ^, v/ L: V22.Under which method of cost flows is the inventory assumed to be composed of the most recent costs?
a.        average cost
b.        first-in, first-out
c.        last-in, first-out
7 ]* p3 [4 |; k( }8 Z, S2 ~d.        weighted average
★考核知识点: 存货  P240 参见P240
23. When the perpetual inventory system is used, the inventory sold is debited to (  )
( b, `. d9 R9 y  ta.        supplies expense
b.        cost of merchandise sold
2 U) m. N1 _' ^+ C$ h. G. cc.        merchandise inventory
! c- r. S& V0 l" a8 H5 I, Z" N& ed.        sales
★考核知识点: 存货  P238-241参见P238-P241

24．All of the following below are needed for the calculation of depreciation except
a.        cost
b.        residual value
- m$ T% f( Q# Jc.        estimated life
d.        book value
  c& ^, S2 ]: G3 J$ ^$ I% g6 T★考核知识点: 折旧  P261参见P261
25. A characteristic of a fixed asset is that it is
! F) R" ~- K% v/ ?) S% D2 Fa.        intangible
+ X* g3 o* L5 e7 yb.        used in the operations of a business
c.        held for sale in the ordinary course of the business
% H8 a# ]) @1 ]3 J, j3 T) kd.        none of the above
★考核知识点: 固定资产特征  P259 参见P259
26. Accumulated Depreciation (  )
a.        is used to show the amount of cost expiration of intangibles
b.        is the same as Depreciation Expense
c.        is a contra asset account
d.        is used to show the amount of cost expiration of natural resources
, {) z  J9 M. }* @" k0 n★考核知识点: 累计折旧  P260 参见P260

27. The two methods of accounting for investments in stock are the cost method and the （  ）
* T( i2 F3 M9 t  Fa.        straight-line method
b.        equity method
. p. }. q# y! m6 ^; G% s' Q( dc.        liability method
! D  S/ p" |7 \d.        interest method
) n$ j9 S+ c5 I- A5 q★考核知识点: 股票投资  P363 参见P363
$ G* Z  C7 B- `" w
0 F# e$ x5 G6 S# M" E4 s- j28. A capital expenditure results in a debit to （  ）
  C/ z5 J- |* ?" @) da.        an expense account
b.        a capital account
c.        a liability account
) Y- Z: f+ z1 @2 p. A* k1 c: Od.        an asset account
★考核知识点: 资本性支出  P265参见P265

29. Current liabilities are（  ）
( Z. h8 m2 l+ p' U) J5 M4 U$ A! }+ ^a.        due, but not receivable for more than one year
* m/ a" k/ T, w8 b5 N; ?b.        due, but not payable for more than one year
c.        due and receivable within one year
8 ~3 v( ]9 p+ @. r) {7 Kd.        due and payable within one year
2 v1 b& T% T+ _- f9 B★考核知识点: 流动负债  P285 参见P285
2 O- p* S9 s8 z5 O6 Q/ P. B30. The debt created by a business when it makes a purchase on account is referred to as an
2 o$ \  k( a0 ^* H) l2 m+ c! S$ P$ sa.        account receivable
b.        account payable
c.        asset
d.        expense payable
! c: f: M+ C# q3 w1 `★考核知识点: 应付账款  P285参见P285
4 i1 a5 c7 K6 v: H! g6 R
: O5 U& a# s# ], Q31. Notes may be issued （  ）
- K( n5 \* i5 p  E6 n# ia.        when assets are purchased
b.        to creditor's to temporarily satisfy an account payable created earlier
c.        when borrowing money
2 C( J' `0 F3 Q  O8 U3 {d.        all of the above
★考核知识点: 应付票据  P285-287参见P285-P287

& v7 Q4 ?$ z0 s/ L32.The cost of a product warranty should be included as an expense in the
a.        period the cash is collected for a product sold on account
b.        future period when the cost of repairing the product is paid
c.        period of the sale of the product
, W5 f' o2 Z! [2 |3 Vd.        future period when the product is repaired or replaced
$ w0 r- p2 _" S; u- y★考核知识点: 产品质量担保  P287-289 参见P287-P289
; _) Y' @3 [2 v  B' U7 n: c& O5 T
33. If the market rate of interest is 8%, the price of 6% bonds paying interest semiannually with a face value of $100,000 will be
a.        Equal to $100,000
b.        Greater than $100,000
c.        Less than $100,000
; H4 [2 H' k& ed.        Greater than or less than $100,000, depending on the maturity date of the bonds
% h3 `9 D! |; n- w& |' M★考核知识点: 应付债券  P380参见P380
$ _$ C! s- z  [5 t6 R$ U34. The interest rate specified in the bond indenture is called the （  ）
a.        discount rate
b.        contract rate
$ z, Q( z% q, |& r- M9 {; Fc.        market rate
d.        effective rate
( q; H; g! p; J. n2 V- P★考核知识点: 应付债券  P380参见P380

9 y3 [6 R) c& \) f35. When the corporation issuing the bonds has the right to repurchase the bonds prior to the maturity date for a specific price, the bonds are
2 A# `1 N7 M- y3 q8 Q& ea.        convertible bonds
b.        unsecured bonds
( X* c3 E; s2 Y7 w" h6 Q% @& wc.        debenture bonds
d.        callable bonds
★考核知识点: 可赎回债券  P285参见P285
) D3 N4 V: L& Q& Y& O0 R1 b
36. When the market rate of interest on bonds is higher than the contract rate, the bonds will sell at  
a.        a premium
+ I9 ~) Z6 N6 @) Rb.        their face value
c.        their maturity value
d.        a discount
★考核知识点: 应付债券  P380参见P380

% c( U& Q, t, a( b37. One potential advantage of financing corporations through the use of bonds rather than common stock is
a.        the interest on bonds must be paid when due
" N+ L  H' ^! W, C- }b.        the corporation must pay the bonds at maturity
c.        the interest expense is deductible for tax purposes by the corporation
: t! ~6 f/ {0 m) Y9 V& o/ vd.        a higher earnings per share is guaranteed for existing common shareholders
★考核知识点: 应付债券  P378参见P378
6 Q% q6 ?! V2 G1 F3 E& q- S, {+ X38. Characteristics of a corporation include （  ）
a.        shareholders who are mutual agents
8 {, J1 ~( D8 A7 s9 j& sb.        direct management by the shareholders (owners)
) W2 M6 N) y0 S6 W: F8 L2 L& z3 Lc.        its inability to own property
d.        shareholders who have limited liability
★考核知识点: 公司特征  P300 参见P300
39. Stockholders' equity （  ）
a.        is usually equal to cash on hand
  s6 X& v& i/ m0 t$ Y8 Wb.        includes paid-in capital and liabilities
c.        includes retained earnings and paid-in capital
9 l3 D4 f, J3 S, m7 nd.        is shown on the income statement
; y0 w. k* q6 q5 C★考核知识点: 股东权益  P302参见P302
. u2 Z; Z- w" J' X$ f# L
9 i& _8 H: l- f9 b0 Y40. The excess of issue price over par of common stock is termed a(n) （  ）
a.        discount
b.        income
% S- {+ c0 R* V3 J9 O# mc.        deficit
d.        premium
★考核知识点: 股票溢价发行  P306参见P306
4 J+ d3 @& p8 P1 C8 n+ O41. Cash dividends are usually not paid on which of the following?
2 r  f" c2 T& p, u8 ^a.        class B common stock
* W; A0 L; z, d$ t; X" [b.        preferred stock
# K. J2 L9 \7 b1 qc.        treasury stock
- g9 Y: a% R# @' K1 u! u. _d.        class A common stock
$ L9 h# T. i8 S3 y; \3 F  x★考核知识点: 库藏股  P307参见P307
7 _% y8 _3 x) K- n0 q7 L8 E
42. Which of the following accounts below is reported in the paid-in capital/stockholders' equity section of the corporate balance sheet?
a.        Cash
b.        Stock Dividends
! C6 }: Z( u& H) e: F3 r6 mc.        Organizational Expenses
d.        Preferred Stock

★考核知识点: 股东权益  P303参见P303
附2.42  参考课件第8章
' M* d6 s, i9 f8 O2 G% k/ O  R
' o6 @8 P& C9 B4 R7 b
# ]' g" Z% C: ]/ x0 O2 |. j, R- E

43. If preferred stock has dividends in arrears, the preferred stock must be
a.        participating
b.        callable
c.        cumulative
& G/ |7 ]: x9 s; v$ w/ O% ]. `d.        convertible
( {1 G/ U: z  d5 }  [& g★考核知识点: 累积优先股  P304 参见P304
1 G/ g8 x! }, t44. The primary purpose of a stock split is to
+ P. U0 d: V. b$ A% y' [1 }a.        increase paid-in capital
* q, A* e+ c$ m4 w" M6 A) h% X* cb.        reduce the market price of the stock per share
1 c' d+ w, Q! r: Nc.        increase the market price of the stock per share
, `7 r* {$ P+ A9 i! e" A3 F0 i2 Fd.        increase retained earnings
# B9 i0 M% I# q( _★考核知识点: 股票分割  P308 参见P308
; P, T. q& }' k' `
45. Which statement below is not a reason for a corporation to buy back its own stock.
a.        resale to employees
b.        bonus to employees
c.        for supporting the market price of the stock
  e, O' Y/ W, Z) E9 G+ ?6 r& ~d.        to increase the shares outstanding
/ p$ v6 O8 R6 i3 p9 x2 e7 s★考核知识点: 库藏股  P307 参见P307
& Q5 o! G5 b5 {& O) S$ Y2 x
46. The liability for a dividend is recorded on which of the following dates?
  D. G- ]8 j" q% ga.        the date of record
4 s) W3 m) Q9 I7 U" ~b.        the date of payment
% m6 C, H/ R* B8 zc.        the date of announcement
d.        the date of declaration

  o0 P$ u6 `  Q★考核知识点: 股利  P309 参见P309
; i, f7 G) w. ]9 p! A$ Z47. In credit terms of 2/10, n/30, the "2" represents the      
a.        number of days in the discount period
0 E. _/ M/ x4 ?: b; Hb.        full amount of the invoice
c.        number of days when the entire amount is due
: K1 n  H; T$ v9 \3 Yd.        percent of the cash discount

★考核知识点: 现金折扣  P165-168 参见P165-P168
" F* z9 K+ U* R6 h9 ?& ]  Y48. Revenue should be recognized when（  ）
a.        cash is received
b.        the service is performed
c.        the customer places an order
d.        the customer charges an order
★考核知识点: 收入  

+ b# T" x! C, @" [6 B; p49. The ability of a business to pay its debts as they come due and to earn a reasonable amount of income is referred to as （  ）
- d1 g4 }; g0 ca.        solvency and leverage
% c9 W" E2 z8 C& V/ _& y$ Zb.        solvency and profitability
c.        solvency and liquidity
d.        solvency and equity
★考核知识点: 报表分析  P441 参见P441

50. Which of the following is not included in the computation of the quick ratio?
a.        Inventory
. h" m* A" o+ e) Nb.        marketable securities
c.        accounts receivable
1 s- r: F- [9 T# h' xd.        Cash
' J3 {/ g* ~+ T" c9 P/ D★考核知识点:速动比率  P443 参见P443

+ A9 ~& y: y% t7 W" @2 f& k) H四、问答题：
" c2 H5 f& x- M4 B$ K/ o1．The characteristics of sole proprietorship, partnership and corporations
简要说明独资、合伙和公司的优缺点。
) W+ O' ?4 X; \8 n6 {) ^  P" [& i
★考核知识点:企业组织形式  P3 参见P3
附4.1 参考课件第1章
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1 ^; C9 W4 t: W$ n: N
5 z# ~1 e* x/ ^' ~: |2．What is the role of accounting. 简述会计的作用。
9 y5 T# O2 b5 k; I+ J
★考核知识点:会计的作用  P6 参见P6
6 L4 c# ^8 D) ~/ U0 @) b附4.2 参考课件第1章
7 [6 L6 b. e: W+ _8 ?) p

7 o# ?* V/ ~3 e2 `6 B4 Y3．Differentiate between financial accounting and managerial accounting.
- m6 t1 W  z: o8 U* G/ N财务会计与管理会计的区别。
, X/ ~' q" L; N7 a; v/ y
9 ]' \9 A/ I/ Q3 C4 n' m% w参考资料：
Financial accounting is primarily concerned with the recording and reporting of economic data and activities for a business.
Management accounting uses both financial accounting and estimated data to aid management in running day-to-day operations and in planning future operations..
' l/ X* [) c' [★考核知识点:财务会计与管理会计  P10 参见P10
# d- g) u" @6 Z/ _0 V. M* a附4.3 参考课件第1章

4．The objective of financial reporting 财务报告的目标。
  T$ `5 ^9 W2 d! w) @% P
参考资料：
Overall objective（总体目标） of financial reporting is to provide financial information useful to external users in making economic decisions.
% @6 D7 v' T9 z% G7 u: v(a) provide information about the financial position, performance and changes in financial position of an entity that is useful to a wide range of users in making economic decisions；（向使用者提供有关企业财务状况、经营成果和财务状况变动情况的信息，以利于其作出经济决策。）
(b) show the results of the stewardship of management, or the accountability of management for the resources entrusted to it. （反映管理当局受托责任的履行结果，或管理当局受托管理资源的责任。）
5 J! L8 W! v9 t# `  d7 `+ F★考核知识点:财务报告的目标  参见P22
附4.4 参考课件第1章
* _9 }" S! r3 Q# y/ F( M

6 z% G& ]! W; M* i# B; {2 E5．What are the recognition and measurement principles?
8 M) c  F5 v! w6 {+ N2 `; M( {财务报表要素的确认与计量原则。
* y  Q5 p+ D% x# L
8 L! w" b% q+ i% D% c" k参考资料：
5 F$ T) c! m' g7 k8 _( G(1) Recognition is the process of incorporating in the balance sheet or income statement an item that meet the definition of an element and satisfies the recognition criteria.
8 f4 G, B( d; wRecognition Criteria 确认标准：
# Y; v4 N8 L7 l5 P3 ^2 ^2 Ga. The Probability of Future Economic Benefit  未来经济利益流入的可能性
2 a/ T# `4 q4 o  Mb.        Measurement Reliably计量的可靠性
(2) Measurement is the process of determining the monetary amounts at which the elements of financial statements are to be recognized and carried in the balance sheet or income statement.
Measurement Bases 计量基础：
a.        Historical cost. 历史成本
b.        Current cost 现行成本
c.        Realizable (settlement) value可实现（清算）价值
( G" Q5 ^% c& |) Ed.        Present value 现值
/ C2 x. }1 X& C1 M8 T
★考核知识点:确认与计量原则 参见P11
附4.5 参考课件第1章
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# Q) D: `% {: T( L6. The types of cash flow activities reported in the statement of cash flows.
现金流量表包括哪几部分？

" H7 F, q  M  M4 _" _2 k( I★考核知识点:现金流量表P405 参见P405
附4.6 参考课件第3章
  }3 |  v- X2 k$ D

7. Differentiate between the indirect method and the direct method.
3 p/ L) w# f# X6 ^3 G/ W* K简述经营活动现金流量的直接法与间接法的优缺点。
0 |5 l' N8 b7 V- T2 @★考核知识点:现金流量表P406 参见P406
- V7 |, q  j% Q3 D7 |附4.7 参考课件第3章


( _' z1 [) z* g8． Differentiate between the accrual basis and the cash basis.
5 D; n5 x) W, q$ |, @7 @4 S应计制与现金制的区别。
参考资料：
+ }( d5 e# w; w8 F* oUnder the accrual basis for the accounting period concept, revenues are reported in the income statement in the period in which they are earned.
4 c: _0 M5 w1 o( f6 m6 W9 WUnder the cash basis for the accounting period concept, revenues and expenses are reported in the income statement in the period in which cash is received or paid.
★考核知识点:应计制与现金制P71 参见P71
附4.8 参考课件第1章、第4章
: ]9 v. r. j! }: ?
9． What is the double-entry system? 简述复式记账法的含义
参考资料：
        A system of recording transactions in a way that maintains the equality of the accounting equation.
        The fundamental rule of double-entry bookkeeping is that debits must equal credits.
! H0 y7 ]/ b! }9 b+ t1 V        For every transaction, there must be at least one debit and one credit.
) w: P! j$ i; ^/ I. U- y        Debits must always equal credits for each transaction.
6 V9 L& A" D+ `4 p% }3 D        Debits are always entered on the left side of  an account and credits are always entered on the right side.
★考核知识点:复式记账法P38 参见P38
, t9 Z" r0 @4 O/ ^. V8 I附4.9 参考课件第4章
& C# K- B# V  l/ |
10． What are the major types of adjusting entries? 调整分录的种类
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参考资料：
Adjusting entries can be classified as either ：Prepayments or  Accruals
(1) Prepayments fall into two categories:
a. Prepaid expense
b. Deferred Revenue (Unearned Revenue)
+ l7 O2 O  I0 w3 P- B1 q$ c. O(2) Accruals fall into two categories
6 Y/ h1 z+ ?9 g- Fa. Accrued expenses
b. Accrued revenues

★考核知识点:调整分录P72 参见P72
* {0 y5 h4 |* m附4.10 参考课件第4章
Companies are on a calendar or fiscal year and business transactions can cut across two years. Therefore, adjusting entries are needed to ensure that the revenue recognition and matching principles are followed.  
Adjusting entries can be classified as either ：Prepayments or  Accruals
(1) Prepayments fall into two categories:
a. Prepaid expenses: expenses have been paid in cash and are recorded as assets until they are used or consumed.  
b. Deferred Revenue (Unearned Revenue)：Revenues received in cash and recorded as liabilities before they are earned.
* j+ U# ]1 r+ t" A$ p(2) Accruals fall into two categories
a. Accrued expenses are expenses that have been incurred but not yet paid in cash and there is no original entry.
b. Accrued revenues are revenues that have been earned but not yet received in cash.
11. Describe the basic steps of the accounting cycle.简述会计循环的步骤。
5 \4 X" \3 P9 ~; N" c
4 m9 a5 ^( B0 |  H! E参考资料：
The accounting cycle (or accounting process) includes standardized procedures that are performed in sequence during every period. (会计循环，或称为会计程序，是在每个会计期间按照一定顺序处理业务的一套规范化的程序）
7 y9 R( j7 F# l2 R3 L9 nIt is called cycle because the steps repeated each accounting period.
( U% M/ ^$ N2 U0 C* g& J6 `, T8 \% }(1) Transactions are analyzed and recorded in the journal.
% A4 c% @; j& I* i6 @) {2 G7 \9 q, _(2).        Transactions are posted to the ledger.
(3) A trial balance is prepared, adjustment data are assembled, and an optional work sheet is completed.
8 a9 ^% z4 A0 R' E, l& @& |' c(4) Financial statements are prepared.
9 |2 w1 K* j0 e+ F3 ^(5) Adjusting entries are journalized and posted.
# ?% N( V. [+ T(6) Closing entries are journalized and posted.
(7) A post-closing trial balance is prepared.
★考核知识点:会计循环P95 参见P95
& h5 f2 ?" `7 a( \! L: x) U附4.10 参考课件第4章

2 D" O- b- Y1 A( ?8 o, d. H) ^2 e11． What are the methods of control of cash? 现金的内部控制方法。
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1 c% c; i  g2 C8 {; P★考核知识点:调整分录P72 参见P72
附4.11 参考课件第4章
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12． What are the advantages of the allowance method for uncollectible accounts?
应收账款坏账备抵法的优点。

- E: s9 y9 F2 M0 H" u3 S/ ^# E★考核知识点:应收账款坏账处理P212-217 参见P212-P217
0 ?7 R, f1 h: @! i! S9 Y附4.12 参考课件第5章
4 k. i5 U. D# _, y: iManagement makes an estimate each year of the portion of accounts receivable that may not be collectible.
Uncollectible Accounts Expense (Bad Debts ) is debited and Allowance for Doubtful Accounts is credited.
Actual accounts that prove to be uncollectible are debited to Allowance for Doubtful Accounts and credited to Accounts Receivable.
(1) This method is consistent with the matching principle.
(2) The accounts receivable state at net realizable value at end of the accounting period.

( S) P% a* F1 |13． Describe the characteristics of the periodic inventory system and the perpetual inventory system.  存货的两种盘存制度的特点。
# I. H0 x8 H( C: O% b3 B参考资料：
A company using a perpetual system maintains a continuous record of the physical quantities in its inventory.
A company using a periodic system does not maintains a continuous record of the physical quantities on hand.
2 M! ^8 i- ^( B# `8 }& y+ M9 Q; v0 a1.        In a periodic inventory system, when an item is sold, the only journal entry recorded is to reflect the sale of the merchandise Cost of goods sold is recorded only after the ending inventory has been counted and valued at the end of the period.
2.        With a perpetual inventory system, continually updated records are maintained for inventory items.  Such tracking is readily enabled through advances in technology.  As a result, two journal entries are made when a sale occurs.
★考核知识点:存货盘存制度P236 参见P236
附4.13 参考课件第5章

14．What are the financial statements effects of inventory methods?
存货计价方法对报表有何影响？（以先进先出法、后进先出法和平均成本法为例）
（1）        Income Statement Effects：In periods of increasing prices, FIFO reports the highest net income, LIFO the lowest net income, and average cost falls in the middle.  In periods of decreasing prices, the converse is true: FIFO will report the lowest net income, LIFO the highest, with average cost in the middle.
（2）        Balance Sheet Effects ：In a period of inflation, the costs allocated to ending inventory using FIFO will approximate current costs. Thus, the market to book value of the inventory should approximate 1.0. Conversely, during a period of increasing prices, the costs allocated to the ending inventory using LIFO will be significantly understated.  Thus, the market to book ratio will be greater than 1.0.
★考核知识点:存货计价方法P237-244 参见P237-P244
/ t! F! f0 z' Y5 B& Z& l附4.14 参考课件第5章
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9 J8 G) F1 y/ x0 |9 A6 P15． What are the classifications and objectives of investment in securities? 简述证券投资的类型和目的。
参考资料：
/ b. U" B; D# u9 z# a7 Y1 Y" gClassifications of Investments:         Trading securities； Held-to-maturity debt securities； Available-for-sale securities
) T1 g# X; F2 y% \7 K' H1 nObjectives of Investment in Securities：
（1）Temporary investment of surplus cash
, `& T( t$ x* p2 ^（2）Investment solely for a return
（3）Investment for influence
3 F- Z1 k, v' G9 a（4）Purchase for control
4 w7 r* l) P: o
★考核知识点:存货计价方法P237-244 参见P237-P244
: }. C# S/ E1 {8 Q- L  ?5 M附4.15 参考课件第6章
Marketable securities–Stocks, bonds and other financial instruments that organizations hold in lieu of cash. These are also referred to in the financial statements as short-term investments
Two Types of Marketable securities:
Debt securities - These are bonds issued by corporations or government that have maturity value, interest rate and maturity date.
Equity securities – These are any securities, such as common shares that represent  ownership in a  company.   
Classifications of Investments in Equity and Debt Securities：       
(1)        Trading securities: Investments at fair value through profit or loss ; held for trading, or designated to be ‘at fair value through profit or loss’
0 D0 P2 u8 O5 l; y(2)        Held-to-maturity debt securities: financial assets with fixed or determinable payments; fixed maturity ; positive intent and ability to hold to maturity
9 q; I, a/ a, \+ j: h4 U(3)        Available-for-sale securities: remaining financial assets ;do not fall into any of the two categories above
& I3 r6 {  `& \; _1 K4 xObjectives of Investment in Securities
' y5 |( ^& b, U/ m6 Z7 D(1)        Temporary investment of surplus cash
$ P' E: Z0 O0 v" h8 Q(2)        Investment solely for a return
# `1 C3 E) w$ ~) f+ t' F(3)        Investment for influence
(4)        Purchase for control
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16. Describe the reasons for holding marketable securities.简述企业进行短期有价证券投资的原因
★考核知识点:短期投资P361 参见P361
附4.16 参考课件第6章
2 w. L" E5 F. R  `' aThere are many reasons why a company may want to buy debt or equity securities from another company.
( T- ]  a- L9 H( ]) q+ U5 pFor example, Company A may purchase the debt of Company B because
% G8 p- r3 O( t: C• Company B’s debt is paying a good interest rate.
1 {0 |+ J; |7 X" i( u• The debt may have a maturity date that matches Company A’s need for cash.
• The debt may be selling for less than face value, and Company A thinks that it can sell the debt later at a gain.
+ `: s4 F- L7 c& \0 x  u9 XInvestments in debt and equity securities can be classified on the statement of financial position as either current or non-current assets.
One reason for holding short term investments relates to the control of cash. The amount of cash held by an entity should be carefully regulated so that there is neither too much nor too little available at any time. If there is too little cash on hand, the firm will not be able to meet daily or periodic cash requirements; if there is too much cash on hand, a portion of the entity’s assets are unproductive.
  p( y! U( d$ Q0 p' `, Q9 {# VTherefore, management will try to keep just enough cash on hand at any one time to meet daily requirements, plus a cushion for emergencies.
5 ~1 ~0 U- p* YCash in excess of the daily minimum should be invested in income-producing opportunities, such as the debt and equity securities of other companies.

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17. Describe the characteristics of property, plant and equipment. 简述固定资产的特点。
! s0 U* C, m4 A* R3 V: r★考核知识点:固定资产P259 参见P259
2 b& ^0 B( Q# N( Y8 Z附4.17 参考课件第6章
- w) ]/ [  _- [! \8 u" w# I) P) DProperty, plant, and equipment is defined as tangible assets that are held for use in production or supply of goods and services, for rentals to others, or for administrative purposes; they are expected to be used during more than one period.
1 D$ P- k: e, f. y+ i; PIncludesand, Building structures (offices, factories, warehouses), and Equipment (machinery, furniture, tools).
! |* [3 ~: d$ T; sThe characteristics：
3 M+ ]* N: T) K! x+ \- `(1) “Used in operations” and not for resale.
(2) Long-term in nature and usually depreciated.
(3) Possess physical substance.
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; I% X1 Y& K* r* q18. Describe the benefits of accelerated depreciation methods. 什么是加速折旧法？其优点有哪些？
8 `& D  w. d( w# z3 X8 R( Y" q$ Z参考资料：
Accelerated methods of depreciation result in more depreciation in the early years of an asset's life and less depreciation in the later years of an asset's life than does the straight-line approach.
The benefits of accelerated depreciation methods are:
9 e5 u6 ]' ]! x( u! |9 R(1) Decreasing depreciation charges are matched against increasing repair and maintenance charges.
(2) Higher depreciation charges drive net income down in early years of an asset’s life. As a result, accelerated depreciation methods are favored for tax purposes.

★考核知识点:固定资产P263 参见P263
3 P: d8 t( K) I8 B. L6 V附4.18 参考课件第6章

: V% c/ g& V0 a9 n! ?; L6 E7 R19. Describe the characteristics of intangible assets.什么是无形资产？其特征有哪些？
参考资料：
An intangible assets is an identifiable non-monetary asset without physical substance. 无形资产是指没有实物形态的、可辨认的非货币性资产。
Examples of intangible assets include goodwill, patents, copyrights, franchises, trademarks and trade names ……例如：商誉、专利权、版权、特许权、商标、商号等
1 q  z! S  k9 C7 SThe characteristics：
) b% l) w  J2 S- I6 ]& `) @(1)        a higher degree of uncertainty regarding the future benefits未来收益的高度不确定性
3 @: f) k5 I  b: S- P(2)        value subject to wider fluctuations价值波动性大
(3)        having value only to a particular company其价值只与某一特定企业相关
(4)        ‘non-monetary’ feature 非货币性质

* w/ ^3 N4 D, Q4 T! X) _★考核知识点:无形资产P272 参见P272
( _9 a1 b$ z3 P) O! {% g: F- t附4.19 参考课件第6章
如下资料也可以：
& Y! L8 K0 J0 N, q1 {0 r$ nIntangible assets are rights, privileges, and competitive advantages that result from ownership of long-lived assets that do not possess physical substance.
' k1 d/ L) X: _5 d/ j3 g& w3 U8 w; `Examples of intangible assets include goodwill, patents, copyrights, franchises, trademarks and trade names ……
The Main Characteristics:
(1)        Identifiable.可辨认性
7 `: }( N1 b! n5 ?(2)        Lack physical existence.缺乏实物形态
(3)        Not monetary assets.非货币性资产
Normally classified as non-current asset.

3 d+ F& p$ z' f! N, e9 z/ [. P20. Describe the reasons for issuance of long-term liabilities.
举借长期债务的原因（与发行股票相比）。
参考资料：
Reasons for Issuance of Long-Term Liabilities：
(1) Debt financing may be the only available source of funds.
0 F  c9 U. E0 {: o- F: ?9 n3 O) W(2) Debt financing may have a lower cost.
(3) Debt financing offers an income tax advantage.
(4) The voting privilege is not shared.
(5) Debt financing offers the opportunity for leverage.

0 d" w8 I$ U! u5 w" H. a' A★考核知识点:长期负债P378 参见P378
0 n/ i6 c! W* n% ?7 o: L! v8 N附4.20 参考课件第7章
0 w& ]" _, x8 r$ pA long-term liability: a liability with repayment terms extending beyond one year from the current balance sheet date or the operating cycle of the borrower, whichever is longer.
Long-term debt is often an attractive means of financing for the debtor:
- x' o5 ^; C# u* c(1)        creditors do not acquire voting privileges in the debtor company, and issuance of debt causes no ownership dilution
7 ^3 X( F0 y( ?2 ~% z(2)        debt capital is obtained more easily than equity capital for many companies, especially private companies
(3)        interest expense, unlike dividends, is tax deductible
& ]( }9 t$ N1 D( J; C* {4 ?# }(4)        a firm that earns a return on borrowed funds that exceeds the rate it must pay in interest is using debt to its advantage and is said to be successfully levered (or leveraged)
  Y( H0 G# B, |9 U/ x6 \Leverage is dangerous if sales or earnings decline and interest expense becomes an increasing percentage of earnings.
6 c! M5 \8 |- u, y  A2 ~
6 q2 j5 t5 ]" g+ R. [
) g% U  `: s) u2 y3 \21. The characteristics of corporations简述公司的特征

★考核知识点:公司特征P300 参见P300
附4.21 参考课件第8章
# Y. n2 @. E1 N2 s0 I
4 D( Q' ]  `. u6 F22．Describe the rights of common shareholders.（简述普通股股东的权利）
, v1 x& ]! N: ^1 s9 d2 W* P
6 S9 O6 [6 Y! J" k- M★考核知识点:普通股P303 参见P303
. ~! W2 U, L% n5 ~/ }- I附4.22 参考课件第8章
The two primary classes of paid-in capital are common stock （ordinary shares) and preferred stock. The primary attractiveness of preferred stocks is that they are preferred over common as to dividends.
+ @- E) C* `7 X1 _+ VRights and Privilege of Shareholders：
Common Shareholders
4 x% N7 c: |2 t9 V! \(1)        right to vote on key corporate matters
+ ?% N+ I( n- h. J5 ~8 ?(2)        preemptive right to purchase enough shares to retain their proportional ownership interest
* \4 ~" ^% l/ Y(3)        right to share proportionately in any dividends
5 y+ r7 K7 L: l7 h(4)        have residual interest in assets in liquidation
Preferred Shareholders
(1)        stipulated dividend rate; stipulated liquidation value
4 F+ H% I% \$ \(2)        participation in earnings; cumulative feature  
1 s9 E6 X* ~% y7 }: X* R3 _; i
9 o6 r( P! {" [$ e5 k% [$ }6 e23．Describe the three conditions that corporations declare and pay cash dividends on shares outstanding. 现金股利的发放条件。
) K/ `4 b$ c7 m" d* l0 t
0 n6 s& A& |- c5 q. B参考资料：
7 l+ m% U5 i. g/ e* a& a# jCorporations generally declare and pay cash dividends on shares outstanding when three conditions exist:
+ Z7 T0 u5 q9 r9 X1.         Sufficient retained earnings
, j: t( o' D# B, P+ U1 L8 S2.         Sufficient cash
3.         Formal action by the board of directors
+ B. T  W$ R% t6 I7 X/ b
★考核知识点:现金股利P309 参见P309
7 W: c* w  {( r8 e附4.23 参考课件第8章
+ }1 r* `: ]1 F& A% gDividends are distributions of retained earnings to stockholders.
Dividends may be paid in cash, stock, or property.
  Y! \$ ?% {7 V* C2 E2 uDividends, even on cumulative preferred stock, are never required, but once declared become a legal liability of the corporation.
" K3 f4 K  v# [: Z  W, oCorporations generally declare and pay cash dividends on shares outstanding when three conditions exist:
1.         Sufficient retained earnings
2.         Sufficient cash
3.         Formal action by the board of directors

24． Describe the reasons exist for a company to issue a stock dividend.
公司发放股票股利的原因。
参考资料：
Numerous reasons exist for a company to issue a stock dividend:
(1)        to show that the firm plans to permanently retain a portion of earnings in the business
(2)        to increase the number of shares outstanding, which reduces the market price per share and which, in turn, tends to increase trading of shares in the market. (a large stock dividends)
, P! C$ o, j1 x- T0 h  ](3)        to continue dividend distributions without disbursing assets (usually cash) that may be needed for operations
) X" Z. \$ @; M1 @3 }8 f) l1 g(4)        stock dividends do not subject the shareholders to income tax
# S7 U' X; j. ]9 d  n1 ?9 y" ](5)        shareholders may actually prefer to receive stock dividends because they can sell these additional shares only if they choose to do so
; I9 o* r$ k9 W9 y( @' [3 ]
★考核知识点:股票股利P310 参见P310
! p, K/ k1 q( ~3 _! C" }附4.24 参考课件第8章
& N) O& c) x6 p9 F% g2 h, ^: c8 zA stock dividend: a proportional distribution to shareholders of additional common or preferred shares of the corporation
. z# n% w1 w, V. KA stock dividend does not change the assets, liabilities, or total shareholders' equity of the issuing corporation
It does not change the proportionate ownership of any shareholder
It simply increases the number of shares outstanding
The effect of a stock dividend on the stockholders’ equity of the issuing corporation is to transfer retained earnings (the market price of the shares) to paid-in capital.
7 @3 J8 s6 F/ A3 r: I6 h( y! KNumerous reasons exist for a company to issue a stock dividend:
(1)        to show that the firm plans to permanently retain a portion of earnings in the business
  M# E) c& x7 t' X# n+ G: H4 Y% _(2)        to increase the number of shares outstanding, which reduces the market price per share and which, in turn, tends to increase trading of shares in the market. (a large stock dividends)
5 L4 D! t1 P5 M5 I5 B! C(3)        to continue dividend distributions without disbursing assets (usually cash) that may be needed for operations
(4)        stock dividends do not subject the shareholders to income tax
shareholders may actually prefer to receive stock dividends because they can sell these additional shares only if they choose to do so

1 T5 F. R; X* d# a5 W
) {# ~4 d4 c5 W  X3 N- z! y/ B: `25．Differentiate between the stock dividends and stock splits.
/ l+ s! \, `1 l/ J( \8 d4 b6 O; g股票股利与股票分割的区别。
$ u- s: w3 ^7 _" x  A参考资料：
Stock Dividends：
9 h% T2 r( v; j- {8 ]0 j(1)        Par value of a share does not change
(2)        Total number of shares increases
(3)        Total stockholders’ equity does not change
6 g5 a7 u& Q& e, p% [% F(4)        The composition of equity changes (less of retained earnings; more of stock)
, O4 P" w" `, Y5 p2 M- N2 S2 N8 V(5)        Stock dividends require journal entries
" X* F, _- u; u+ k2 T# x* R) d$ wStock Splits：
( b& B5 j. U5 ~(1)        Par value of a share decreases
0 T$ ?$ W" y/ P; m: }5 k(2)        Total number of shares increases
(3)        Total stockholders’ equity does not change
(4)        The composition of equity does not change (same amounts of stock and RE)
(5)        Stock splits do not require journal entries


& C( B9 O0 |+ D) ?& n7 d+ p9 O3 _3 i26． Describe the reasons that a company may retire shares.
/ e6 I5 M: Z: {3 Y& w  Z简述企业取得库藏股的原因。

★考核知识点:库藏股P307 参见P307
2 \5 T5 v: i) X4 V附4.26 参考课件第8章
Treasury Stock : A firm may also buy its own shares and hold them for eventual resale. Such shares may not vote at shareholder meetings or receive dividends
Why Does A Corporation Reacquire Its Own Stock?
( u( V# V# C9 d6 T* j3 j  ^(1)        Reissue shares to officers and employees under bonus and stock compensation plans.因奖金和股票期权计划，再发行股票给高管喝雇员
/ H9 P& T' X/ A( Y- P5 A7 M/ ~( h(2)        Increase trading of company's stock in  securities market in hopes of enhancing market value.增加本公司股票在证券市场的交易量，以希望提高市场价值
9 T& K* h/ E# `( G(3)        Have additional shares available for use in acquisition of other companies.为取得其他公司准备股票
: P* Y; |; R; U! _, Q+ B- U$ U(4)        Reduce number of shares outstanding, thereby increasing earnings per share.减少发行在外股数，以提高每股收益
  W2 |. |( x. ~(5)        Prevent a hostile takeover.防止恶意并购


* {+ t$ c* u$ ~+ C( o27．Describe the characteristics of income and expenses. 简述收益和费用的特征。

- D# j& W, h& m9 L0 p" y★考核知识点:收入与费用
, ]' A$ H8 S& k8 w2 j! |- Y& ]附4.27 参考课件第9章


. e; o7 P3 I3 Z! I28． Describe the matching methods between the expenses and revenue.
费用与收入配比的三种方法。
参考资料：
The matching principle is broken down into three pervasive measurement principles:费用的确认方法（即与收入配比的方法）
, g! r1 f3 N1 B& I' y(1) associating cause and effect（因果关系）: costs are relatively easy to identify with the related revenues, such as materials and direct labor consumed in the manufacturing process
/ \+ O* n& N; v' I3 {4 v(2) systematic and rational allocation（系统合理的分配）: costs are more closely associated with specific accounting periods, such as costs of buildings and equipment   
(3) immediate recognition（立即确认）: All other costs are generally expensed in the period in which they are incurred, such as office salaries, utilities, advertising expenses, etc.   
★考核知识点:收入与费用配比P71-72 参见P71-P72
: `% ?9 P( @& X- }$ ]附4.28 参考课件第9章

29. Describe the purposes of financial statement analysis. 简述财务报表分析的目的。
, p" t! \! A( L参考资料：
3 Y" y% m" Q2 xFinancial statement analysis has two purposes:
(1) to use the past performance of an entity to predict its future profitability and cash flows.
) f: p% e- L, B" y/ W2 G. `(2) to evaluate the performance of an entity with an eye toward identifying problem areas.
★考核知识点:报表分析P437 参见P437
附4.29 参考课件第10章
4 R4 P1 t/ [/ X% B' N

% L( N7 I1 E  {2 m0 e9 I+ N' ~30. What is the purpose of a statement of cash flows? How does it differ from a balance sheet and an income statement?
说明现金流量表的作用，这与收益表和资产负债表的作用有何不同？
* ]5 ]5 C# ~. x+ j9 q
参考资料：
Usefulness of the Income Statement：
(1)        Evaluate past performance.评价过去业绩
(2)        Predicting future performance.预测未来业绩
(3)        Help assess the risk or uncertainty of achieving future cash flows.有助于评价达到未来现金流量的风险与不确定性
* X2 o8 |2 G+ H0 G% n# J2 ?: LUsefulness of the balance sheet：
8 ^4 ~3 W/ J' W# @/ B(1)        Evaluating the capital structure.
(2)        Assess risk and future cash flows.
(3)        Analyze the company’s: Liquidity, solvency, and sinancial flexibility.
Purpose of the Statement of Cash Flows：
To provide relevant information about the cash receipts and cash payments of an enterprise during a period.
/ Z& x, V6 D( V$ F9 ?' ^4 d+ X4 lThe statement provides answers to the following questions:
Where did the cash come from?
What was the cash used for?
8 w, K8 E! s3 ~5 x( t8 dWhat was the change in the cash balance?
6 x2 H2 D* ]5 t! |* Q" [Importance of the statement of cash flow：
, P! f" |. G+ L; ^/ i$ L(1)        It is useful to managers in evaluating past operations and in planning future investing and financing activities.
(2)        It is useful to investors, creditors, and others in assessing a firm’s profit potential.
1 i/ V- p& `5 b; z: O# a3 ~(3)        It is a basis for assessing the firm’s ability to pay its maturing debt.
$ _$ F5 {% C: n' Z' ]4 n' O
' I  o7 o* v  X. `★考核知识点:现金流量表P405 参见P405
附4.30 参考课件第10章
Purpose of the Statement of Cash Flows：
+ G  I: s8 F, [7 y3 hTo provide relevant information about the cash receipts and cash payments of an enterprise during a period.
( v/ S/ |" \2 j, m9 G+ t( \1 hThe statement provides answers to the following questions:
2 ?, t2 c) ~8 D" HWhere did the cash come from?
What was the cash used for?
5 M: E1 r+ b3 X3 Q& M8 h* U4 s$ AWhat was the change in the cash balance?
; I3 e, w8 M! Y- [Importance of the statement of cash flow：
(1) It is useful to managers in evaluating past operations and in planning future investing and financing activities.
7 P, h6 f: D) m& G" t; J0 l(2) It is useful to investors, creditors, and others in assessing a firm’s profit potential.
(3) It is a basis for assessing the firm’s ability to pay its maturing debt.
" M  E0 |) {& p, ^' e" bThe statement of cash flows reports cash flows by three types of activities:
0 ?2 T, O" l/ `; F9 @6 g(1) Cash flows from operating activities – transactions that affect net income.
  {' z3 ]' Y4 K  h+ Q- t' ~(2) Cash flows from investing activities – transactions that affect noncurrent assets.
(3) Cash flows from financing activities – transactions that affect equity and debt of the entity.
8 d, f& @5 f: @3 P8 k; [
" T3 N: ]5 t2 r4 ]- g# a8 c31. What are the horizontal analysis, vertical Analysis and ratio analysis?
8 M+ C& X6 \4 C5 e什么是横向分析、纵向分析、比率分析？
, M/ I. A  P6 p1 u$ Q+ v0 ?
; D% s7 v4 I9 Q' L- W, ~5 ^# ?; d★考核知识点:报表分析P436-451 参见P436-P451
附4.31 参考课件第10章
( \# A0 q/ u; Q  l2 G/ Q, g! U8 N(1) Horizontal analysis (or trend analysis): Uses data from prior years as a yardstick. The oldest year is used as a base, line by line, and subsequent years are expressed as a percentage of the base.
) t$ @/ A3 |' E+ E) \. rTwo steps:
–        select a base year and assign each item on the base year statement a weight of 100%;
–        express each item from the statements for the other years as a percentage of its base year amount
" o* q1 Q! K5 D6 @* i(2) Vertical Analysis: A percentage analysis can be used to show the relationship of each component to a total within a single statement.
The total, or 100% item, on the balance sheet is “total assets.”
Net sales is 100.0% on the income statement.
$ D2 Z% T) @8 d2 FVertical analysis with both dollar and percentage amounts is also useful in comparing one company with another or with industry averages.  Such comparisons are easier to make with the use of common-size statements in which all items are expressed in percentages.
& C( y0 |5 `( p$ t) |$ S(3) Ratio analysis: A mathematical relationship between two amounts from the financial statements. The amounts might consist of a single account or a number of different accounts, from any of the financial statements — the balance sheet, the income statement, or the statement of cash flow.
        Solvency is the ability of a business to meet its financial obligations (debts) as they are due. Solvency analysis focuses on the ability of a business to pay or otherwise satisfy its current and noncurrent liabilities. This ability is normally assessed by examining balance sheet relationships.
        Profitability is the ability of an entity to earn profits. This ability to earn profits depends on the effectiveness and efficiency of operations as well as resources available. Profitability analysis focuses primarily on the relationship between operating results reported in the income statement and resources reported in the balance sheet.

& T2 c+ [$ ^# e. m

五、业务题
1. Record the following selected transactions for March in a two-column journal, identifying each entry by letter:
" g" y; Z/ p) e7 ]( l6 _
(a)        Received $10,000 from Shirley Knowles, owner.
, ?3 j0 I% e; C$ V(b)        Purchased equipment for $35,000, paying $10,000 in cash and giving a note payable for the remainder.
(c)        Paid $1,000 for rent for March.
+ {; u; ~8 S9 Q% A' W  H0 Y(d)        Purchased $8,500 of supplies on account.
(e)        Recorded $2,500 of fees earned on account.
(f)        Received $11,000 in cash for fees earned.
( N! _" T# a- E, U% g7 ^(g)        Paid $200 to creditors on account.
4 Y3 f5 x0 ^! k% t1 N: Y: i(h)        Paid wages of $1,250.
4 s7 ]1 c' k. q, h8 K8 r' r- A(i)        Received $1,150 from customers on account.
(j)        Recorded owner's withdrawal of $1,850.
! [3 G0 o+ ]' _5 I( n
6 X2 w% b1 ~1 \, _" cANS:       

1 E' o" U# r, S! |9 O7 W- X(a)        Cash        10,000       
          Shirley Knowles, Capital                10,000
                       
(b)        Equipment        35,000       
; R. |& }; n0 d: ~          Cash                10,000
# v% ?: y6 q+ _0 x4 m          Notes Payable                25,000
% v/ g, F- p4 m. P2 g                       
' ?( v1 N) E9 z) z' Z# A% y(c)        Rent Expense        1,000       
          Cash                1,000
                       
6 \" o6 t7 a% N# v3 j4 s) r. G6 o/ @(d)        Supplies        8,500       
8 F. z, h$ r, N1 Z" g          Accounts Payable                8,500
. p$ O- f, I/ r8 h* Y! g                       
(e)        Accounts Receivable        2,500       
          Fees Earned                2,500
                       
" G0 _( M4 n- E& z(f)        Cash        11,000       
          Fees Earned                11,000
5 W. c# i* `- Z$ A5 F+ ~                       
(g)        Accounts Payable        200       
& L: {& [0 M+ K3 `+ o          Cash                200
                       
  g$ Q6 K, p9 @3 p% r& t, F(h)        Wages Expense        1,250       
9 X& \& P% [) h; v3 u! a. c7 A          Cash                1,250
                       
(i)        Cash        1,150       
          Accounts Receivable                1,150
3 t$ |$ J9 `6 p6 e                       
(j)        Shirley Knowles, Drawing        1,850       
          Cash                1,850
/ h1 f1 q- K3 p8 o: K0 |
★考核知识点:借贷复式记账P38 参见P38
附5.1 参考课件第4章
' g8 k2 M* ~: i. AThe double-entry system：
        A system of recording transactions in a way that maintains the equality of the accounting equation.
3 Z" D* U6 e/ Z* d        The fundamental rule of double-entry bookkeeping is that debits must equal credits.
/ b1 A7 S$ Y/ h; `: F        For every transaction, there must be at least one debit and one credit.
/ Y0 x! T2 [8 V' F; V/ O0 X7 E) c        Debits must always equal credits for each transaction.
5 q% r( i: |5 J0 ]- ^9 ]2 B        Debits are always entered on the left side of  an account and credits are always entered on the right side.

2． Journalize the six entries that adjust the accounts at December 31.  One of the accounts was affected by two different adjusting entries.

5 H( H4 w; Q1 A2 v+ Z* B1 w  l        Unadjusted
Trial Balance        Adjusted
Trial Balance
               
Cash         3,000                 3,000       
Accounts Receivable        30,000                30,500       
Supplies         1,700                   100       
. a! q  v! Z, E4 P: CPrepaid Insurance         2,000                   400       
Equipment         9,000                 9,000       
3 N5 i$ q  v. [) D6 u1 y1 \Accumulated Depreciation                                 1,500
Wages Payable                                 4,000
' X; M% [) \4 [9 ^1 p1 OUnearned Fees                 6,000                 1,500
! O- C5 ~( A2 o1 d' @/ lAnn Cole, Capital                20,000                20,000
Fees Earned                62,000                67,000
: E, m/ E3 N% {  j: w, bWages Expense        42,300                46,300       
, p  |5 L3 q1 q. \Supplies Expense                          1,600       
Insurance Expense                          1,600       
Depreciation Expense                                            1,500                
Total        88,000        88,000        94,000        94,000
        ======        ======        ======        ======
8 W! D. Z7 }6 `$ @5 F" s1 b5 B) B# n
ANS:       
4 O; P, A. @6 E1 z
Accounts Receivable        500       
- i4 p) O, x) w, X  Fees Earned                500
               
" C1 V! t' W7 x; I; SSupplies Expense        1,600       
) T: J0 A9 E1 O7 u  Supplies                1,600
1 s2 }* v* N. [2 v# G# D5 L               
Insurance Expense        1,600       
; a6 A9 C+ v$ j2 X* f4 O  Prepaid Insurance                1,600
               
+ y4 N& X( q5 ~; m( B. U. wDepreciation Expense        1,500       
  Accumulated Depreciation                1,500
               
Unearned Fees        4,500       
" Y# e7 i4 I" g0 j- C9 \  Fees Earned                4,500
               
Wages Expense        4,000       
  Wages Payable                4,000

7 _+ M1 X7 |0 v! b★考核知识点:调整分录P72-81 参见P72-P81
, @& j4 n: ]5 B9 O" f附5.2 参考课件第4章
' Q( N, \2 Y" j$ \. k. v% J
: j2 C, E  n. Y
+ p; i8 u1 _" B3 i- Z+ y

- T8 x7 M4 q0 n1 o5 z

# ~! I' d) F# Q% W' `3.         For each of the following, journalize the necessary adjusting entry:
; f0 e5 d& {+ j
(a)        A business pays weekly salaries of $15,000 on Friday for a five-day week ending on that day. Journalize the necessary adjusting entry at the end of the fiscal period, assuming that the fiscal period ends (1) on Wednesday, (2) on Thursday.
(b)        The balance in the prepaid insurance account before adjustment at the end of the year is $14,000. Journalize the adjusting entry required under each of the following alternatives: (1) the amount of insurance expired during the year is $4,500, (2) the amount of unexpired insurance applicable to a future period is $1,500.
(c)        On July 1 of the current year, a business pays $36,000 to the city for license taxes for the coming fiscal year. The same business is also required to pay an annual property tax at the end of the year. The estimated amount of the current year's property tax allocable to July is $3,200. (1) Journalize the two adjusting entries required to bring the accounts affected by the taxes up to date as of July 31. (2) What is the amount of tax expense for July?
; N+ R& ~6 }; V/ V+ K8 Q(d)        The estimated depreciation on equipment for the year is $24,000.

! O6 n& B2 x" p2 Y5 j: U, a" a; _ANS:       
4 `, V0 Q2 u* o& g9 I; I
/ q0 Q: n' H& D3 d% j6 w(a)        (1) Salary Expense        9,000       
/ I% S6 X* y9 \3 t2 c8 A# v               Salaries Payable                9,000
$ p/ s* Y: n/ Q' `                       
        (2) Salary Expense        12,000       
+ X. v4 Y! N6 v6 x+ D               Salaries Payable                12,000
: i4 J3 M# F+ z& o                       
. B1 c  ~* C& w; f(b)        (1) Insurance Expense        4,500       
/ P- j9 y" b  H% `2 w               Prepaid Insurance                4,500
: u' \+ o7 F* k+ E  c) o                       
# ~  }' M% v( S' z5 F- e) j        (2) Insurance Expense        12,500       
7 ]0 k3 [' k% [               Prepaid Insurance                12,500
                       
4 Y7 B3 k+ p- U* t5 R, T% V(c)        (1) Taxes Expense        3,000       
               Prepaid License Taxes                3,000
% I9 p1 y( Z% n3 ^4 u2 p                       
            Taxes Expense        3,200       
               Property Taxes Payable                3,200
! h/ L. m7 M! h" J, O3 `1 K                       
7 P* @  _! O( ~2 m* B        (2) $6,200 ($3,000 + $3,200)               
                       
(d)        Depreciation Expense        24,000       
           Accumulated Depreciation - Equipment                24,000
★考核知识点:调整分录P72-81 参见P72-P81
附5.3 参考课件第4章 （同上）
2 R" O) B+ w& k0 ~8 E
4.        On the basis of the following data taken from the Adjusted Trial Balance columns of the work sheet for the year ended October 31 for Shore Co., journalize the four closing entries.
9 s. _8 u" I# r
) m; Z+ V) @( f: ~4 cCash        $ 21,500       
Accounts Receivable        45,200       
Supplies        5,000       
% y& l' u" P' A2 vEquipment        169,900       
( C, w# V2 ?: t& _8 E: JAccumulated Depreciation                $ 69,000
) ^: {) ]1 G8 V4 _0 ~* dAccounts Payable                42,500
- k( O* O- p1 yStan Shore, Capital                152,600
Stan Shore, Drawing        30,000       
Fees Earned                404,500
Salary Expense        300,500       
Rent Expense        60,000       
% w8 E" f+ [, [$ V2 L0 ^Depreciation Expense        25,000       
Supplies Expense        9,500       
2 P, J; X% O! \Miscellaneous Expense             2,000                     
8 W1 p2 G1 H+ @# X2 |* E        $668,600        $668,600
        ========        ========
$ |  N2 Q8 C* Q, Q* |* e
ANS:       

Oct. 31        Fees Earned        404,500       
  P2 m2 @1 v9 c/ m9 z4 K% N                       Income Summary                404,500
6 n' S, Q2 \# P5 ^               
        31        Income Summary        397,000       
5 k3 P0 q7 Q2 d9 Y6 c, R                       Salary Expense                300,500
                       Rent Expense                60,000
0 ]! G/ k  S  ^5 X4 W                       Depreciation Expense                25,000
' C2 u" C3 t; N- O                             Supplies Expense                9,500
/ d0 d; a: |+ D# |                             Miscellaneous Expense                2,000
& u: L; R8 y7 D/ |/ d1 e% o8 H               
        31        Income Summary        7,500       
8 ]( A+ X: j* b  n" n/ z                             Stan Shore, Capital                7,500
               
- O, }$ H$ k5 N             31        Stan Shore, Capital        30,000       
                                   Stan Shore, Drawing                30,000
+ ?* C8 ?5 H$ ^( z
★考核知识点:结账分录P102 参见P102
附5.4 参考课件第4章
The Closing Process：
(1) Debit each revenue account for the amount of its balance, and credit Income Summary for the total revenue.
(2) Debit Income Summary for the total expenses and credit each expense account for its balance.
6 w6 c3 L6 M0 H/ L# d4 P(3) Debit Income Summary for the amount of its balance (in this case, the net income) and credit the capital account.
9 p. g/ \7 I% t(4) Debit the capital account for the balance of the drawing account, and credit drawing for the same amount.
After the closing entries are posted, all of the temporary accounts have zero balances.

5.        The bank statement for Allen Co. indicates a balance of $8,000.00 on June 30, 2005.  After the journals for June had been posted, the cash account had a balance of $3,675.00.  Prepare a bank reconciliation on the basis of the following reconciling items:
7 ^+ M" R3 m8 Y( Z1 b
8 g2 e- p* U- @& P' G; V$ s(a)        Cash sales of $342 had been erroneously recorded in the cash receipts journal as $324.
7 b, u! R* o. }(b)        Deposits in transit not recorded by bank, $500.00.
/ C: f/ ?: H, Y9 V(c)        Bank debit memorandum for service charges, $25.00.
" w5 B3 V( [$ L+ Q(d)        Bank credit memorandum for note collected by bank, $2850, including $50 interest.
* F! J% d5 Q3 y5 t1 Q5 P/ j(e)        Bank debit memorandum for $218.00 NSF (not sufficient funds) check from Alice Bell, a customer.
(f)        Checks outstanding, $2,200.00.
& L1 S6 c6 p0 k' ]% w
, T; j+ I4 z# ]( v$ m8 F2 X% y$ ^ANS:       
$ c3 Q3 h; w) U$ V0 n& J
Allen Co.
Bank Reconciliation
* ~3 f+ G7 J6 W" f5 C' D$ SJune 30, 2005
               
Cash balance according to bank statement                $8,000.00
Add deposits in transit not recorded by bank                   500.00
                $8,500.00
6 A  N. {$ f! m$ _8 JDeduct outstanding checks                 2,200.00
Adjusted balance                $6,300.00
. {1 A* K* m% \! {                =========
Cash balance according to depositor's records                $3,675.00
% x; n5 _+ s' V* R- p9 k+ y# PAdd: Note collected by bank, including               
       $50 interest        $2,850.00       
* Q- O* b- O6 i' x% [( a% E     Error in recording cash sales of               
       $342 as $324            18.00         2,868.00
& N) O7 G' U- P. O3 w                $6,543.00
# n: y" b' x) k& WDeduct: NSF check from Alice Bell        $  218.00       
        Bank service charges            25.00           243.00
Adjusted balance                $6,300.00
                =========

★考核知识点:银行调节表P200 参见P200
9 i; X! C- J- |附5.5 参考课件第5章
/ z$ T; v' M7 r6 Z' oA bank reconciliation is a listing of the items and amounts that cause the cash balance reported in the bank statement to differ from the balance of the cash account in the ledger.
) k9 Q: I. d4 j+ E/ |- x- ~Reasons for differences between depositor’s records and the bank statement：
& o7 {  h" d( b% w9 m$ J(1)        Outstanding checks.
! ?  l3 C* m) t+ B6 o3 R5 i(2)        Deposits in transit.
- H% t2 t5 d0 K2 S) q(3)        Service charges
% Y. R* w& a0 L, u9 c! ?/ W1 h(4)        Collections
(5)        Not-sufficient-funds (NSF) checks
(6)        Errors
# N- l& r8 ~7 S& O

( Z" a7 _1 ?3 @0 v5 \6. Using the following information, prepare a bank reconciliation for Cole Co. for May 31 of the current year:

, e$ @% a4 |  b(a)        The bank statement balance is $3,012.
(b)        The cash account balance is $3,165.
(c)        Outstanding checks amounted to $590.
(d)        Deposits in transit are $704.
: k! `1 m+ g8 c- G* P(e)        The bank service charge is $30.
( g: i+ U# D; j' U! z- _5 s(f)        A check for $76 for supplies was recorded as $67 in the ledger.

8 \0 h- m! u" _0 M( a- {0 WANS:       
* V2 Q& t8 d% A! D& Y6 `- @8 y
$ O! K  @7 x% P5 w8 Y+ t0 S% u* SCole Co.
Bank Reconciliation
1 \+ S# f' L4 q+ L) j* aMay 31, 2005
               
Cash balance according to bank statement                $3,012
9 X6 u) ?6 f! y" d0 {" @Add deposits in transit not recorded by bank                   704
2 p- [- O) x4 X' {( ?1 ^                $3,716
9 z7 n% X3 _* j: ~6 z" [6 YDeduct outstanding checks                   590
9 D% @: |7 X" _3 ?* MAdjusted balance                $3,126
                ======
& m) g0 T4 e" V8 L- y( N- S( O3 aCash balance according to depositor's records                $3,165
0 d0 ^6 k- u) BDeduct:  Bank service charge        $ 30       
) Y  K4 H+ |0 K0 U" I+ Z8 s         Error in recording           9            39
: U6 Y+ h$ q! z' ]. FAdjusted balance                $3,126
5 D" |3 ~7 q. j% J6 W8 [                ======
5 z! F& `+ l$ t+ }2 I6 ?4 t1 g  W
. K; e* t6 V+ `# u) x  ?$ _★考核知识点:银行调节表P200 参见P200
附5.6 参考课件第5章 （同上）
7 A3 q* G* o$ k8 ~1 }' b& `

7. For a business that makes advance provision for uncollectible receivables

(a)        Journalize the entries to record the following:
& p4 |6 _. T' r: y2 y: c               
        (1)        Record the adjusting entry at December 31, the end of the fiscal year, to provide for doubtful accounts.  The accounts receivable account has a balance of $800,000, and the contra asset account before adjustment has a debit balance of $600.  Analysis of the receivables indicates doubtful accounts of $20,000.
; O% ]+ @5 q% y5 S# `- V* B        (2)        In March of the following fiscal year, the $550 owed by Flake Co. on account is written off as uncollectible.
        (3)        Eight months later, $200 of the Flake Co. account is reinstated and payment of that amount is received.
! z% g5 S/ G9 D. ?9 B$ P, N8 g        (4)        In October, $400 is received on the $600 owed by Doe Co. and the remainder is written off as uncollectible.
               
' N' M3 Z4 `9 A' k. `! k' U(b)        Based on the data in (a) (1) above, what is the net realizable value of the accounts receivable as reported on the balance sheet as of December 31?
3 \3 ^  j2 F: m# a  h2 R               
(c)        Assuming that the business had been following the direct write-off procedure in accounting for uncollectible receivables, journalize the entries to record the following:
2 F( K* M9 Q2 N2 o- h               
        (1)        Recorded the write-off of account of Flake Co. [(a) (2) above].
        (2)        Reinstated account of Flake Co. for $200 and recorded payment of that amount received [(a) (3) above].
        (3)        Recorded the receipt of $400 from Doe Co. in (a) (4) above and wrote off the remainder owed as uncollectible.
; I: S( K: x* j9 n; L
; B2 y0 {& L1 z  `, g$ m. r* pANS:       
(a)               
& H( g4 v! N3 i5 o6 @5 z  N$ \; i(1) Uncollectible Accounts Expense        20,600       
. i- g7 @- J5 c4 j       Allowance for Doubtful Accounts                20,600
5 w! x6 Q0 r* E+ `0 U2 a5 a; K               
(2) Allowance for Doubtful Accounts        550       
       Accounts Receivable-Flake Co                550
& x3 ]0 H# n% o% F               
- f1 L! ?4 h; W( J) K(3) Accounts Receivable-Flake Co        200       
& K6 ^" @8 |- r+ o       Allowance for Doubtful Accounts                200
" K7 ?% a+ }) C  t* U+ h4 V               
     Cash        200       
       Accounts Receivable-Flake Co                200
               
(4) Cash        400       
( J  o! D0 u" v8 ]' d     Allowance for Doubtful Accounts        200       
       Accounts Receivable-Doe Co                600
: V) @5 o3 L1 s9 N               
(b)               
& P% ~8 A" J, b; K; g$780,000 ($800,000 - $20,000)               
               
(c)               
(1) Uncollectible Accounts Expense        550       
       Accounts Receivable-Flake Co                550
2 [4 A1 {; I  k4 W& ]* p               
- `3 F2 I5 V% p* i(2) Accounts Receivable-Flake Co        200       
       Uncollectible Accounts Expense                200
               
8 S& y* Y  b( C8 _' w5 C     Cash        200       
% R2 L  u3 D# V/ j' G5 y1 g/ z       Accounts Receivable-Flake Co                200
               
(3) Cash        400       
- n, k! l) b( V     Uncollectible Accounts Expense        200       
6 o" ]2 ~7 T: @1 U# M       Accounts Receivable-Doe Co                600
8 R; b5 X, a, x1 G  f3 [
6 s. h" E* [* a8 G8 j; Q: n★考核知识点:应收账款坏账处理P212-217 参见P212-P217
附5.7 参考课件第5章
3 B4 \" ^9 }# {; V; Q: OMethods of Accounting for Uncollectible Accounts：
(1) The Allowance Method :
7 @( i' \" [2 k( s, }6 x8 S        This method is consistent with the matching principle.
& a' M2 D/ s8 F8 |* h        Management makes an estimate each year of the portion of accounts receivable that may not be collectible.
; r* Y. Y! E1 ^# ~/ T' ^        Uncollectible Accounts Expense (Bad Debts ) is debited and Allowance for Doubtful Accounts is credited.
        Actual accounts that prove to be uncollectible are debited to Allowance for Doubtful Accounts and credited to Accounts Receivable.
(2) Direct Write-Off Method :
( H/ v  z  \' |  {# o0 _Theoretically undesirable: no matching; receivable not stated at net realizable value
2 f8 r; y/ s6 N: r  H0 ^- \
  \5 k9 N3 Y1 b( O1 {# H2 S3 q8. The beginning inventory and purchases of an item for the period were as follows:

Beginning inventory        6 units at  $73 each
* k# v( W" u3 Y4 FFirst purchase        10 units at $72 each
Second purchase        18 units at $74 each
Third purchase        10 units at $75 each
# ]  H" ~8 O8 g/ H$ m  @4 y
% C1 _3 P% @! E% P* ?" bThe company uses the periodic system, and there were 15 units in the inventory at the end of the period.  Determine the cost of the 15 units in the inventory by each of the following methods, presenting details of your computations: (a) first-in, first-out; (b) last-in, first-out; (c) average cost.
! o. F/ z# d1 T  [) i+ C+ E) @, m
ANS:       
(a)
0 m' N0 m' h8 {2 J, m; E! X, E10 units @ $75        $  750               
0 {6 h7 ?! J6 u1 p# G  q6 U, t 5 units @ $74           370                      
        Total        $1,120               
% }6 S/ U, }, X" V1 k$ O9 i        ======               
$ m- i6 E0 f9 t9 P; ?4 z. b
# N2 b% N. Z6 ~! j1 H$ O(b)
6 units @ $73        $  438
- z1 x* u& T2 I" V* R2 Y9 units @ $72           648
* @9 U/ E  L- ?% q         Total        $1,086
$ x2 j5 P' ?% }# v5 n- Z% z+ q        ======

1 A' P! T, U) x* |% x) b- u(c)
Average unit cost =        $73.64
$3,240/44       
15 units @ $73.64 =        $1,104.60
, ]/ s9 r/ b, J        =========

( d# h+ n2 W" J★考核知识点:存货计价P239-245 参见P239-P245
附5.8 参考课件第5章
/ ?9 u# c4 p3 N2 P# zA company using a perpetual system maintains a continuous record of the physical quantities in its inventory.
- V. E+ `; B- {1 {1 C) \Opening Inventory + Purchases - Goods Sold=Closing Inventory
A company using a periodic system does not maintains a continuous record of the physical quantities on hand.
+ Z4 l) A" w* M+ P/ Z) C* |- YOpening Inventory + Purchases-Closing Inventory=Goods Sold
; B- F1 N( A% A$ K2 t- G7 L(1) First-in, First-out (FIFO) method assumes that the earliest goods purchased are the first to be sold.  
5 P! s+ p6 ]5 {. I; Y( e# }Thus, cost of goods sold is obtained by taking the unit cost of the oldest goods purchased and working forward until the cost of all units sold have been determined.
As a result, ending inventory is the most recently purchased goods.
(2) Last-in, First-out (LIFO) method assumes that the last goods purchased are the first to be sold.
Thus, cost of goods sold is obtained by taking the unit cost of the most recently purchased goods and working backward until the cost of all units sold have been determined.
; W$ s/ x: a( @: aAs a result, ending inventory is the oldest purchased goods.
(3) Average cost method assumes that the goods available for sale are homogeneous and allocates the cost of goods available for sale on the basis of the weighted average unit cost incurred.  
The weighted average unit cost is then applied to the units sold to determine the cost of goods sold.  
In addition, it is applied to the units in ending inventory to determine the value of ending inventory.
( i$ }' l6 M0 b) f7 g& {. J
9. The following data regarding purchases and sales of a commodity were taken from the related perpetual inventory account:
2 H: z2 S0 d/ t3 V
May   1    Balance        25 units at $40
          6    Sale        20 units
( K' ~( T+ B0 n. x8 k* d          8    Purchase        20 units at $41
        16    Sale        10 units
: [9 n5 h3 W# w" o+ b9 z  O        20    Purchase        20 units at $42
- M- ?. D' _- G4 J7 Z) ?        23    Sale        25 units
        30    Purchase        15 units at $43
" T9 A/ j/ I- u' V. t9 \; F
(a)        Determine the cost of the inventory balance at May 31, using (1) the first-in, first-out method and (2) the last-in, first-out method.  Identify the quantity, unit price, and total cost of each lot in the inventory.
(b)        Present the journal entry to record a shortage (shrinkage) of $53 discovered by the physical count on May 31.
& |/ e; x- X* m# ?* @
ANS:       
(a)
(1)  May 20  10 units at $42        $  420
        30  15 units at $43           645
4 d1 Q8 [, n4 Z7 f8 b% V! Q      Total        $1,065
- D3 c( i4 b' p; P8 w- {+ W1 ^! T5 Z        ======
       
. t  q  X( _% v( c" _0 q4 d' L    (2)  May  1    5 units at $40        $  200
3 a2 S( K  R9 {7 d              8    5 units at $41        205
              30  15 units at $43           645
+ x- l4 E4 h* a9 L* @& ~" v' m, v          Total        $1,050
3 T6 V! U2 S, j% ]/ l4 ]        ======

! H6 A; f3 K; t; I9 l9 m(b)
Inventory Shrinkage (or Cost of Merchandise Sold)        53       
2 k) j2 d) a5 U0 @4 P      Merchandise Inventory                53
% v( w9 G  d4 s1 e( M$ W
1 [( y4 \* R# x2 v, o! a" G★考核知识点:存货计价P239-245 参见P239-P245
附5.9 参考课件第5章（同上）
4 m) G' M. v% L, `! X  {
10.         Present entries to record the following selected transactions of Belton Co.
- T7 m3 W" X, w- x
(a)        Purchased 500 shares of the 100,000 shares outstanding $10 par common shares of Denver Corporation for $5,100, as investment in available-for-sale securities.
" R- |  S+ \" f% H4 R3 b(b)        Purchased 2,000 shares of the 10,000 shares no par common shares of Reilly Co. for $45,600. The investment was acco