一:Choose the best answer for each statement below（ A ）1. Postings from the purchases journal to the subsidiary ledger are generally made:A. Daily.B. Weekly.C. Monthly.D. Yearly.（ D ）2 If beginning inventory is $50,000, cost of goods purchased is $260,000, and ending inventory is $40,000, cost of goods sold is:A.$300.000.B. $280,000.C. $210,000.D. $270,000.（ B ）3. ABC Company sells merchandise on Feb15 on account to XYZ Co. for $11,000, terms 2/10, n/30. On Feb24, payment is received from XYZ Co. What is the amount of cash received?A. $11,000B. $10,780C. $11,220D. $220( C ) 4. Please select which components should less from the value of plant assets.A. Merchandise inventoryB. Income tax payableC. Accumulated depreciationD.Retained earnings( D )5．Which of the following is not a characteristic of plant assets?A. TangibleB. Long-livedC. Unchanged outlookD. For resale（ C ）6。

Please select the items which do not belong to the Balance Sheet:A. Long-term investment.B. Accounts receivable.C. Income tax expense.D. Retained earnings.（ D ）7. Who does not want to see your Balance Sheet?A. Creditor.B. Investor.C. Manager.D. Customer.（ C ）8. The equity method of accounting for long-term investments in stock should be used when the investor owns:A. Less than 20% of the common stock of the investee.B. More than 20% of the common stock of the investee.C. Between 20% and 50% of the common stock of the investee.D. More than 50% of the common stock of another entity.（ D ）9. Jane Smith earns $12 per hour for a 40-hour week and $22 per hour for any overtime work. If Jane works 48 works in a week, gross earnings are:A. $480.B. $576.C. $650.D. $656.（ B ）10. Decide which of the following statements is true.A. Since intangible assets lack physical substance, they need be disclosed only in thenotes to the financial statements.B. Totals of major classes of assets can be shown in the balance sheet, with assetdetails disclosed in the notes to the financial statements.C. Goodwill should be reported as a contra-account in the owner’s equity section.D. Intangible assets are typically combined with plant assets and natural resourcesand shown in the property, plant, and equipment section.( C ) 11. Please select which components should less from the value of plant assets.A. Merchandise inventoryB. Income tax payableC. Accumulated depreciationD.Retained earnings( D )12．Which of the following is not a characteristic of plant assets?A.TangibleB.Long-livedC.Unchanged outlookD. For resale( A )13. In accounting, which of the following factors is not an estimate to determine the depreciation of a plant asset?A.Costeful lifeC.Salvage valueD.Total units of output( C )14. Please select an item for not belong to the Balance Sheet.A. Long-term investmentB. Accounts receivableC. Income tax expenseD. Retained earnings( A )15. In general, which is the basis of preparing a Balance Sheet?A. Assets=Liabilities + Owners’ equityB. Assets - Liabilities = Owners’ equityC. Profits = Revenues - ExpensesD. Revenues =Profits + Expenses( A ) 16. In accounting, which of the following factors is not an estimate to determine the depreciation of a plant asset?E.Cost B. Useful lifeC. Salvage valueD. Total units of output( C )17. Please select an item for not belong to the Balance Sheet.A. Long-term investmentB. Accounts receivableC. Income tax expenseD. Retained earnings( A )18. In general, which is the basis of preparing a Balance Sheet?A. Assets=Liabilities + Owners’ equityB. Assets - Liabilities = Owners’ equityC. Profits = Revenues - ExpensesD. Revenues =Profits + Expenses( C )19. The major elements of the income statement are:A. Revenue, cost of goods sold, selling expenses, and general expenseB. Operating section, cooperating section, discontinued operations, extraordinary items,and cumulative effectC. Revenues, expenses, gains and lossesD. All of these( D )20. Information in the income statement helps users to:A. Evaluate the past performance of the enterpriseB. Provide a basis for predicting future performanceC. Help assess the risk or uncertainty of achieving future cash flowsD. All of these（ D ）21. Jane Smith earns $12 per hour for a 40-hour week and $22 per hour for any overtime work. If Jane works 48 works in a week, gross earnings are:A. $480.B. $576.C. $650.D. $656.（ B ）22. Decide which of the following statements is true.E. Since intangible assets lack physical substance, they need be disclosed only in thenotes to the financial statements.F. Totals of major classes of assets can be shown in the balance sheet, with assetdetails disclosed in the notes to the financial statements.G. Goodwill should be reported as a contra-account in the owner’s equity section.H. Intangible assets are typically combined with plant assets and natural resourcesand shown in the property, plant, and equipment section.（ A ）23. Postings from the purchases journal to the subsidiary ledger are generally made:A.Daily.B. Weekly.C. Monthly.D. Yearly.（ D ） 24. If beginning inventory is $50,000, cost of goods purchased is $260,000, and ending inventory is $40,000, cost of goods sold is:B.$300.000. B. $280,000.C. $210,000.D. $270,000.（ B ）25. ABC Company sells merchandise on Feb15 on account to XYZ Co. for $11,000, terms 2/10, n/30. On Feb24, payment is received from XYZ Co. What is the amount of cash received?A. $11,000B. $10,780C. $11,220D. $220参考答案：1-5 A D B C D,6-10 ; C D C D B11-15 C D A C A,16-20, A C A C D 21-25 D B A D B二、Translate the following Chinese into English1、原始凭证2、现金折扣3、资产负债表4、现金流量表5、明细分类帐6、流动负债7、借方和贷方8、复式记帐法8、会计假设10、债券投资参考答案：1、 original vouchers2、 cash discount3、 balance sheet4、 statement of cashflow5、 subsidiary ledgers6、 current liabilities7、 debit and credit8、 double entry9、 accounting assumptions10、 bonds investment三、Decide whether the statements are true or false. Write “T ” for “True ” and “F ”for “False ”（ T ）1．Revenues increase owner ’s equity.（ F ）2. Most companies have fewer balance of assets accounts than balance of liability account.（ T ）3. Debit means left ，credit means right.（ F ）4. Debit means increase ，credit means decrease.（ T ）5. The accounting reporting period agrees to the calendar year.（ F ）6. If revenues exceed expenses for the same accounting period ，the entity is deemedto suffer a loss.（ T ）7. Expenses decrease owner ’s equity.（ T ）8. The statement of cash flow is concerned only with cash and cash equivalents.（ F ）9. Accounting provides financial information that is only useful to a businessmanagement.（ F ）10. Accounting is another word for bookkeeping.( F ) 11. Accounting is another word for bookkeeping.( F ) 12. Accounting provides financial information that is only useful to a businessmanagement.( T )1 3. The statement of cash flow is concerned only with cash and cash equivalents. ( T ) 14. Expenses decrease owner ’s equity.( F )1 5. If revenues exceed expenses for the same accounting period ，the entity is deemedto suffer a loss.( T )1 6. The accounting reporting period agrees to the calendar year.( F )17. Debit means increase ，credit means decrease.( T ) 18. Debit means left ，credit means right.( F )1 9. Most companies have fewer balance of assets accounts than balance of liabilityaccount.( T )20．Revenues increase owner ’s equity.参考答案： 1-5 T F T F T , 6-10 F T T F F， 11-15F F T T F ,16-20 T F T F T ;四、Intangible Assets 无形资产Patents 专利Copyrights 商标Goodwill 商誉Current Assets流动资产Accounts Receivables 应收账款Notes Receivables 应收票据Inventories 存货Plant Assets 固定资产Vehicles 车辆Furniture and Fixtures 家具Equipments 机器设备Buildings 建筑物Accumulated Depreciation 累计折旧Land 土地五、Analyze the below transactions of FJ company and write down the accounting entry. 1． John Whith and his family invested $6,000 in FJ Company and received 600 shares of stock.2. FJ Company sold the products to DEF Company for $2,000, DEF Company agrees to pay ABC within 20 days.3．FJ Company paid its telephone bill for $100 cash.参考答案1、Debit: Cash in Bank $6,000Credit: Capital Stock $6,0002、Debit: Accounts Receivable $2,000Credit: Prime Operating Revenue $2,0003、Debit: Administrative Expenses $100Credit: Cash $100六、Sentences translation1．With a properly prepared balance sheet, you can look at a balance sheet at the end of each accounting period and know if your business has more or less value, if your debts are higher or lower, and if your working capital is higher or lower. 1、如果有了正确编制的资产负债表，你就能知道你公司的每一个会计期末的价值是更多了还是更少了，你的债务是更高了还是更低了，你的实收资本是更高了还是更低了。