《财会专业英语》期终试卷I.Put the following into corresponding groups. (15 points)1.Cash on hand2.Notes receivable3.Advances to suppliers4. Other receivables5.Short-term loans6.Intangible assets7.Cost of production 8.Current year profit 9. Capital reserve 10.Long-term loans 11.Other payables 12. Con-operating expenses 13.Financial expenses 14.Cost of sale 15. Accrued payrollII.Please find the best answers to the following questions. (25 Points)1. Aftin Co. performs services on account when Aftin collects the accountreceivableA.assets increaseB.assets do not changeC.owner’s equity d ecreasesD.liabilities decrease2. A balance sheet report .A. the assets, liabilities, and owner’s equity on a particular dateB. the change in the owner’s capital during the periodC. the cash receipt and cash payment during the periodD. the difference between revenues and expenses during the period3. The following information about the assets and liabilities at the endof 20 x 1 and 20 x 2 is given below:20 x 1 20 x 2Assets $ 75,000 $ 90,000Liabilities 36,000 45,000how much the owner’sequity at the end of 20 x 2 ?A.$ 4,500B.$ 6,000C.$ 45,000D.$ 43,0004. Traylor Company paid $ 2,850 on account. The effect of this transaction on the accounting equation is to .A. Decreas e assets and decrease owner’s equityB. Increase liabilities and decrease owner’s equityC. Have no effect on total assetsD. Decrease assets and decrease liabilities5. The entry to record the collection of $ 890 from a customer on account is .A. Dr.Accounts Payable 890Cr. Cash 890B. Dr.Cash 890Cr. Accounts Receivable 890C. Dr.Cash 890Cr. Account Payable 890D. Dr.Cash 890Cr. Service Revenue 8906. The ending Cash account balance is $ 57,600. During the period, cash receipts equal $ 124,300. If the cash payments during the period total $ 135,100, then the beginning Cash amount must haveA. $ 68,400B.$ 46,800C. $ 181,900D.annot be determined from theinformation given7. Use the following selected information for the Alecia Company to calculate the correct credit column total for a trial balance .Accounts receivable $ 7,200Accounts payable $ 6,900Building $ 179,400Cash $ 15,800Capital $ 64,000Insurance expense $ 6,500Salary expense $ 56,100Salary payable $ 3,600Service revenue $ 190,500A. $ 201,000B. $ 137,100C. $ 265,000D. $ 74,5008. ABC paid $500 for inventories in cash ,and purchased additional inventories on account for $700 in the month. At the end of the month,ABC paid $300 of the account payable.what is the balance in the inventoryies account?A $ 500B. $ 900C. $ 1,200D. $ 1,5009.The debit side of an account is used to recordA.increasesB.decreasesC. increases or decreases,depending on the type of accountD.decline10.ABC ,began the year with total assets of $120,000,liabilities of $70,000,and owner’s equit y of $50,000.during the year ABC earned revenue of $110,000 and paid espenses of $30,000.and also invensted an additional $20,000 in the business .how much is the owner’s equity at the end of the year?A. $150,000B.$180,000C.$190,000D.$220,00011．Which of the following is true? __________.A. Owners’ Equity - Assets = LiabilitiesB. Assets –Owners’ Equity = LiabilitiesC. Assets + Liabilities = Owners’ EquityD. Liabilities = Owners’ Equity + Assets12．Which of these is an example of an liability account? _____ ________.A. Service RevenueB. CashC. Accounts ReceivableD. Short-term loans13．Which of the following is a correct statement of the rules of debit and credit? ______.A. Debits increase assets and decrease liabilitiesB. Debits increase assets and increase owners’ equityC. Credits decrease assets and decrease liabilitiesD. Credits increase assets and increase owners’ equity14．If earnings haven’t been distributed as dividends, it should have been retained in the company. The name of this portion of number listed in the balance sheet is ____________.A. paid-in capitalB. retained earningsC. dividendD. cash15．Please select the components which should be deducted from the original value of plant assets when we compute their net value _______.A. Merchandise inventoryB. Income tax payableC. Accumulated depreciationD. Retained earnings16． Which of the following would not be included on a balance sheet?A. Accounts receivable.B. Accounts payable.C. Sales.D. Cash.17. Remington provided the following information about its balance sheet:Cash $ 100Accounts receivable 500Stockholders' equity 700Accounts payable 200Short-term loans 1,000Based on the information provided, how much are Remington's liabilities?A. $200.B. $900.C. $1,200.D. $1,700.18. Gerald had beginning total stockholders' equity of $160,000. Duringthe year, total assets increased by $240,000 and total liabilitiesincreased by $120,000. Gerald's net income was $180,000. No additionalinvestments were made; however, dividends did occur during the year.How much were the dividends?A. $20,000.B. $60,000.C. $140,000.D. $220,000.19.If the assets of a business are $162,600 and the liabilities are$86,000,how much is the owner’s equity?A..$76,600B. $248,600.C. $147,000.D. $250,000.20.Aftin Co. purchases on account when Aftin pay the account payableA.assets increaseB.assets do not changeC.owner’s equity decreasesD.liabilities decrease21.A income statement reports .A. the assets, liabilities, and owner’s equity on a particular dateB. the change in the owner’s capital during the periodC. the cash receipt and cash payment during the periodD. the difference between revenues and expenses during the period22.The following information about the assets and liabilities at the endof 20 x 1 and 20 x 2 is given below: 20 x 120 x 2Assets $ 75,000 $ 90,000Liabilities 36,000 45,000If net income in 20 x 2 was $ 1,500 and there were no withdrawals, how much did the owner invest?A.$ 4,500B.$ 6,000C.$ 45,000D.$ 43,00023.Traylor Company receive $ 2 850 on account. The effect of thistransaction on the accounting equation is to .A. Decrease assets and decreas e owner’s equityB. Increase liabilities and decrease owner’s equityC. Have no effect on total assetsD. Decrease assets and decrease liabilities24.The entry to record the collection of $ 8000 from a customer on accountis .A. Dr.Accounts Payable 8000Cr.Cash 8000B. Dr.Cash 8000Cr.Accounts Receivable 8000C. Dr.Cash 8000Cr.Account Payable 8000D. Dr.Cash 8000Cr.Service Revenue 800025.A list of a business entitys assests,liabilities,and owner’s equityon a given date isA.a balance sheetB.an income statementC.a statement of cash flow C. A retained earnings statement III. Translate the following sentences into Chinese.(10 points)1. The accounting profession today is changing rapidly.2. Assets are what you own.Liabilities are what you owe.Owner’s Equtyis what’s left over .3. The original voucher is obtained or filled in what businesstransactions took place.4. Normally an asset account will have a debit balance.5. The term “debit” is often abbreviated to “Dr.”IV. Prepare a convenient bank reconciliation form according to the following bank statement and depositor’s book.(10 points)Bank StatementDepositor’s RecordBank ReconciliationDate MonthV. Put the correct answer into the blanks.(6points)1.The basic Accouting equation is: .2.The rule of debits and credits is: ,.3. Using straight-line depreciation,Annual Dpreciation=( - )/VI. Translate The Following Terms Into Chinese . (10 points).1. surplus reserve2.manufacturing machine3. Construction in progress worth5. promissory note6. in other words7.profit distribution 8. storage room9.principal plus interest 10. accounting statementVII. The following is transactions of ABC company.please make entries.(24 poins)1. .ABC company was established on Jan.1,2010,when the owners,Mrs Smithsand his friends,invested $30,000 in cash,patent X,valuing $24,000 and equipment A,valuing $40,000 into the company.2. ABC sells merchandise to another customer and send the customer a$2,500 bill for the products they provide. They allows the customer to pay these goods within 30 days.3. A customer buys $3,000 worth of goods from ABC ,and draws a promissorynote from a lacal bank.4. ABC buys a machine for $20,000,and pays the bill in cash.5. ABC paid the telephone bill for $700 in cash.6. ABC paid $3,800 on the accounts payable.7. ABC determine the month depreciation of the manufactory bulding for$5,000.8. ABC purchasese materials of $5,000 on account.9. ABC sells some goods to a client and receives a check from the customerfor $ 2,000 for the goods provided.10.ABC issues a 9%-5， $100,000 bond at its face amount. The bond is dated January 1, 2010 and requires interest payments until the bond principal at the end of 5 years.(1) Entry to bonds issued;(2) Entry to record the accrual interest for each year;(3) 2014 the company repays the principal plus interest.《财会专业英语》期末试卷答卷I.Put the following into corresponding groups. (15 points)II. Please find the best answers to the following questions. (25 Points)III. Translate the following sentences into Chinese.(10 points)1.2.3.4.5.IV. （10points） Bank ReconciliationDate MonthV. Put the correct answer into the blanks.(6points)1.The basic Accouting equation is: .2.The rule of debits and credits is: , .3. Using straight-line depreciation,Annual Dpreciation=( - )/VI. Translate The Following Terms Into Chinese . (10 points).1. 2.3. 4.5. 6.7. 8.9. 10.VII. The following is transactions of ABC company.please make entries.(24 poins)《财会专业英语》答案I.Put the following into corresponding groups. (15 points)II. Please find the best answers to the following questions. (25 Points)III. Translate the following sentences into Chinese.(10 points)（略）IV. （10points） Bank ReconciliationDate 31 Month MayV. Put the correct answer into the blanks.(6points)1.Assets=Liabilities+Owner’s equity .2. Every debit must have a credit,all debits must equal all credits. ,3. Using straight-line depreciation,Annual Dpreciation=( Original Cost- Salvage Value) /Years of Service LifeVI. Translate The Following Terms Into Chinese . (10 points).（略）VII. The following is transactions of ABC company.please make entries.(24 poins)（略）。