C. Help their checking of financial statements. D. All of the above
12. The current liabilities are $30 000, the long-term liabilities are $50 000, and the total assets are $240 000. What is the debt ratio? C A. 0.125 B. 0.208 C. 0.333 D. 3.0
13. The horizontal analysis is used mainly to A A. Analyzing financial trends B. Evaluating financial structure C. Assessing the pat performances D. Measuring the term-paying ability
14. Among the following ratios, which is used for long-term solvency analysis?长期偿债能力分析 A A. Current ratio 流动比率 B. Times-interest-earned ratio C. Operating cycle
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D. Book value per share
15. A profit-making business that is a separate legal entity and in which ownership is divided into shares of stock is known as a D A. Sole proprietorship 个体独资公司 B. Single proprietorship C. Partnership 合伙公司 D. Corporation 股份有限公司
一、 名词解释(10分)
(1) Journal entry：日记账Journal entry is a logging of transactions into accounting journal items. It can consist of several items, each of which is either a debit or a credit. The total of the debits must equal the total of the credits or the journal entry is said to be \Journal entries can record unique items or recurring items such as depreciation or bond amortization.
(2) Going concern：持续经营 The company will
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continue to operate in the near future, unless substantial evidence to the contrary exists. (3) Matching principle：一致性原则 (4) Working capital：营运资金 (5) Revenue expenditure：收入费用
二、 会计业务（共35分）
1. On December 1, ME Company borrowed $250 000 from a bank, and promise to repay that amount plus 12% interest (per year) at the end of 6 months. (1) Prepare the general journal entry to record obtaining the loan from the bank on December 1.
(2) Prepare the adjusting journal entry to record accrual of the interest payable on the loan on December 31.
(3) Prepare the presentation of the liability to the bank on ME’s December balance sheet. Answer:
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(1) Debit: cash $250000
Credit: current liabilities $250000 (2) Debit: Accrual Expense $5000 不确定 Credit: Interest Payable $5000 (3) P39
2. The following information relating to the bank checking account is available for Music Hall at July 31: Balance
per
bank
$20 0000
statement at July 31 Balance
per
18 860
depositor’s records Outstanding checks Deposits in transit Service bank
Prepare a bank reconciliation银行对账工作 fro Music Hall at July 31. Answer:P42
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2 000 800
charge by 60
3. Please prepare the related entries according to the following accounting events.
1) Assume the Healy Furniture has credit sale of $1,200,000 in 2002. Of this amount, $200,000 remains uncollected at December 31. The credit manager estimates that $12,000 of these sales will be uncollectible. Please prepare the adjusting entry to record the estimated uncollectible.
2) On March 1, 2003 the manager of finance of Healy Furniture authorizes a write-off of the $500 balance owed by Nick Company. Please make the entry to record the write-off.
3) On July 1, Nick Company paid the $500 amount that had been written off on March 1. Answer:
(1) Debit: Uncollectible Accounts Expense坏账损失 $12000
Credit: Allowance for Doubtful Accounts坏账准
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会计专业英语期末考试练习卷(new)
