會(huì)計(jì)英語相關(guān)練習(xí)題

1、Chapterr11. The Mill Run GGolf & Counntry CClub ddetaills thee folllowingg accoounts in itts finnanciaal staatemennts. (aa) (b) Accoounts payabble annd acccrued liabiilitiees _ _ Accoounts receiivablee _ _ Propperty, plannt, annd equuipmennt _ _ Foodd and beverrage ooperattions revennue _ _ Golff co

2、urrse opperatiions rrevenuue _ _ Inveentoryy _ _ Longg-termm debtt _ _ Offiice annd genneral expennse _ _ Proffessioonal ffees eexpensse _ _ Wagees andd beneefits expennse _ _Instrucctionss.Classiffy eacch of the aabove accouunts aas an assett (A) , liaabilitty(L), stocckholdders equiity (SSE), rrev

3、enuue (R), or expennse (EE) iteem.Classiffy eacch of the aabove accouunts aas a ffinanccing aactiviity (FF), innvestiing acctivitty (I), or operaating activvity (O). IIf youu beliieve aa partticulaar acccount doesnnt fitt in aany off thesse acttivitiies, eexplaiin whyy.The folllowinng infformattion

4、wwas taaken ffrom tthe 20004 fiinanciial sttatemeents oof phaarmaceeuticaal giaant Meerck aand Coo. Alll dolllar ammountss are in miillionns. Rettainedd earnnings, Januuary 11, 20004 $344,142.0 Matterialls andd prodductioon exppense 44,959.8 Marrketinng andd admiinistrrativee expeense 77,346.3 Divvi

5、dendds 33,329.1 Salles reevenuee 222,9388.6 Ressearchh and devellopmennt exppense 4,0010.2 Taxx expeense 22.161.1 Othher reevenuee 1,3522.2Instrucctionss.After aanalyzzing tthe daata, ppreparre an incomme staatemennt andd a reetaineed earnnings stateement for tthe yeear ennding Decemmber 331,20004.S

6、upposee thatt Mercck deccided to reeduce its rresearrch annd devvelopmment eexpensse by 50%. What wouldd be tthe shhort-tterm iimpliccationns? Whhat woould bbe thee longg-termm impllicatiions? How ddo youu thinnk thee stocck marrket wwould reactt?Kelloggg Comppany iis thee worllds leaading produucer

7、 oof reaady-too-eat cereaal andd a leeadingg prodducer of grrain-bbased conveeniencce fooods suuch ass frozzen waaffless and cereaal barrs. Thhe folllowinng iteems weere taaken ffrom iits 20004 inncome stateement and bbalancce sheeet. AAll doollarss are in miillionns. _Retaiined eearninngs $22,701.3

8、 _ Long-term debt $3,8892.6 _Cost of gooods ssold 55,298.7 _ Invenntoriees 6681.0_Seellingg and adminnistraative expennse 2,6344.1 _ Net saless 99,613.9_Caash 417.44 _ AAccounnts paayablee 7767.2_Nootes ppayablle 7099.7 _Commoon stoock 1003.8_Innteresst exppense 3008.6 _ Inccome ttax exxpensee 4755.

9、3 _ OOther expennse 6.6Instrucctionss.Performm eachh of tthe foollowiing.In eachh casee idenntify whethher thhe iteem is an assset (A), lliabillity (L), sstockhholderrs equiity (SSE), rrevenuue (R), oor exppense (E).Preparee an iincomee stattementt for Kelloogg Coompanyy for the yyear eended Decemmb

10、er 331, 20004.The folllowinng iteems weere taaken ffrom tthe baalancee sheeet of Nike, Inc.(1)Cashh $8288.0 (7) Innventoories $1,6633.6(2)Accoounts receiivablee 22,120.2 (8) Incoome taaxes ppayablle 1188.2(3)Commmon sttock 8900.6 (99) Proopertyy, plaant, aand eqquipmeent 11,586.9(4)Notees payyable 1

11、146.0 (10)RRetainned eaarninggs 3,891.11(5)Otheer asssets 11,722.9 (11)Accouunts ppayablle 7763.8(6)Otheer liaabilitties 2,0881.9 Instrucctionss.Performm eachh of tthe foollowiing.Classiffy eacch of thesee itemms as an assset, liabiility, or sstockhholderrs equitty. (AAll doollarss are in miillionns

12、.)Determiine Niikes acccountiing eqquatioon by calcuulatinng thee valuue of totall asseets, ttotal liabiilitiees, annd tottal sttockhoolderss equiity.To whatt exteent doose Niike reely onn debtt verssus eqquity finanncing?Chapterr 2.These iitems are ttaken from the ffinanccial sstatemments of Doonov

13、ann Co. at Deecembeer 31.2007 Buildding $1105,8000 Accouunts rreceivvable 12,600 Prepaaid innsurannce 4,680 Cash 116,8400 Equippment 882,4000 Land 661,2000 Insurrance expennse 7780 Depreeciatiion exxpensee 5,300 Interrest eexpensse 2,600 Commoon stoock 662,0000 Retaiined eearninngs (JJanuarry 1, 200

14、7) 40,0000 Accummulateed deppreciaation-buildding 455,600 Accouunts ppayablle 9,5000 Mortggage ppayablle 93,6000 Accummulateed deppreciaation-equippment 18,720 Interrest ppayablle 3,6600 Bowliing reevenuees 19,1880Instrucctionss.Preparee a cllassiffied bbalancce sheeet. AAssumee thatt $13,600 oof th

15、ee morttgage payabble wiill bee paidd in 22008.2. The folloowing itemss weree takeen froom thee 20044 finaanciall stattementts of Texass Insttrumennts, IInc.(AAll doollarss are in miillionns.)Long-teerm deebt $ 368 Caash $ 2,668Common stockk 2,488 Acccumulaated ddeprecciatioon 55,655Prepaidd expeens

16、e 3266 AAccounnts paayablee 11,444Propertty, pllant, and eequipmment 99,573 Otther nnoncurrrent assetts 1,9227Other ccurrennt asssets 5554 Otheer nonncurreent liiabiliities 9443Other ccurrennt liaabilitties 470 Reetaineed earrningss 110,5755Long-teerm innvestmments 2644 AAccounnts reeceivaable 1,699

17、6Short-tterm iinvesttmentss 3,6990 Invenntoriees 1,2556Loans ppayablle in 2005 111Instrucctionss.Preparee a cllassiffied bbalancce sheeet inn goodd formm as oof Deccemberr 31, 2004.3. Thesse finnanciaal staatemennt iteems arre forr Snydder Coorporaation at yeear-ennd, Juuly 311, 20007.Salariees payy

18、able $ 2,080Salariees exppense 51,700Utilitiies exxpensee 222,600Equipmeent 18,5000Accountts payyable 4,1100Commisssion rrevenuue 61,1000Rent reevenuee 8,5500Long-teerm noote paayablee 1,800Common stockk 116,0000Cash 224,2000Accountts recceivabble 9,780Accumullated depreeciatiion 6,000Dividennds 4,0

19、000Depreciiationn expeense 4,000Retaineed earrningss (begginninng of the yyear) 35,200Instrucctionss.Preparee an iincomee stattementt and a rettainedd earnnings stateement for tthe yeear. SSnyderr Corpporatiion diid nott issuue anyy new stockk duriing thhe yeaar.Preparee a cllassiffied bbalancce she

20、eet att Julyy 31.Computee the curreent raatio aand deebt too totaal asssets rratio.Supposee thatt you are tthe prresideent off Alliied Eqquipmeent. YYour ssales managger haas appproachhed yoou witth a ppropossal too selll $20,000 oof equuipmennt to Snydeer. Hee woulld likke to proviide a loan to Snn

21、yder in thhe forrm of a 10%, 5-yyear nnote ppayablle. Evvaluatte howw thiss loann woulld chaange SSnyderrs currrent ratioo and debt to tootal aassetss ratiio, annd disscuss whethher yoou wouuld maake thhe salle.4. The chieff finaanciall offiicer (CFO) of SuuperCllean CCorporrationn requuestedd thatt

22、 the accouuntingg depaartmennt preepare a preeliminnary bbalancce sheeet onn Deceember 30, 0007, sso thaat thee CFO couldd get an iddea off how the ccompanny stoood. HHe knoows thhat ceertainn debtt agreeementts witth itss credditorss requuire tthe coompanyy to mmaintaain a curreent raatio oof at le

23、astt 2:1. The preliiminarry ballance sheett is aas folllows.SUPERCLLEAN CORP.Balancee SheeetDecembeer 30, 20077Currentt asseets Cuurrentt liabbilitiiesCash $30,0000 Accouunts ppayablle $25,0000Accountts recceivabble 200,000 Saalariees payyable 115,0000 $40,0000Prepaidd insuurancee 10,0000 $600,000 L

24、ongg-termm liabbilitiies Notess payaable 80,0000 Tottal liiabiliities 1220,0000Propertty, pllant, and eequipmment (net) 200,0000 SStockhholderrs equiity Totaal asssets $260,0000 Commoon stoock 100,000 Rettainedd earnnings 40,000 1400,000 Tootal lliabillitiess and stockkholdeers eqquity$260,0000Instr

25、ucctionss.Calculaate thhe currrent ratioo and workiing caapitall baseed on the pprelimminaryy balaance ssheet.Based oon thee resuults iin (a), thee CFO requeested that $25,0000 off cashh be uused tto payy off the bbalancce of the aaccounnts paayablee accoount oon Deccemberr 31, 2007. Calcculatee the

26、 new ccurrennt rattio annd worrking capittal affter tthe coompanyy takees theese acctionss.Discusss the pros and ccons oof thee currrent rratio and wworkinng cappital as meeasurees of liquiidity.Was it unethhical for tthe CFFO to take thesee stepps?5. The folloowing data were takenn fromm the 2004 a

27、nd 22003 ffinanccial sstatemments of Ammericaan Eaggle Ouutfittters. (All dollaars arre in thoussands.) 20044 20033 Currentt asseets $525,6623 $427,878Total aassetss 865,0071 741,339Currentt liabbilitiies 1899,035 1441,5866Total lliabillitiess 2211,401 1663,8577Total sstockhholderrs equiity 643,6670

28、 577,482Cash prrovideed by operaating activvitiess 1189,4669 104,5548Capitall expeendituures 64,1173 61,407Dividennds paaid -0- -0-Instrucctionss.Performm eachh of tthe foollowiing.Calculaate thhe debbt to totall asseets raatio ffor eaach yeear.Calculaate thhe freee cassh floow forr eachh yearr.Disc

29、usss Amerrican Eaglees sollvencyy in 22004 vversuss 20033.Discusss Amerrican Eaglees abiility to fiinancee its invesstmentt actiivitiees witth cassh proovidedd by ooperatting aactiviities, and how aany deeficieency wwould be meet.Chapterr 3.During 2007, its firstt yearr of ooperattions as a delivver

30、y sservicce, Chheng CCorp. enterred innto thhe folllowinng traansacttions.Issued sharees of commoon stoock too inveestorss in eexchannge foor $1110,0000 in ccash.Borroweed $455,000 by isssuingg bondds.Purchassed deeliverry truucks ffor $660,0000 cashh.Receiveed $166,000 from custoomers for sservicce

31、s prrovideed.Purchassed suuppliees forr $4,2200 onn accoount.Paid reent off $5,6600.Performmed seervicees on accouunt foor $8,000.Paid saalariees of $28,0000.Paid a dividdend oof $111,000 to shharehoolderss.InstrucctionssUsing tthe foollowiing taabularr anallysis, showw the effecct of each transsact

32、ioon on the aaccounnting equattion. Put eexplannationns forr channges tto Stoockhollders Equiity inn the rightt-handd marggin. Asssets = Liabiilitiees + Sttockhoolderss EquiityCash+Acccountts+Supppliess+Propperty,Plantt, =AAccounnts +BBonds + Coommon + RRetainned Reeceivaable and Equippment Paayable

33、e Payaable Stoock EEarninngsSelecteed traansacttions for WWelcomme Homme, ann inteerior decorrator corpooratioon, inn its firstt montth of businness, are aas folllows.Issued stockk to iinvesttors ffor $112,0000 in ccash.Purchassed ussed caar forr $8,0000 caash foor usee in bbusineess.Purchassed suup

34、pliees on accouunt foor $3000.Billed custoomers $2,6000 forr servvices perfoormed.Paid $2200 caash foor advvertissing sstart of thhe bussinesss.Receiveed $1,100 ccash ffrom ccustommers bbilledd in ttransaactionn(4).Paid crreditoor $3000 cassh on accouunt.Paid diividennds off $4000 cashh to sstockhho

35、lderrs.InstrucctionssFor eacch traansacttion iindicaate (aa) thee basiic typpe of accouunt deebitedd and crediited (assett, liaabilitty, sttockhoolderss equiity); (b) tthe sppecifiic acccount debitted annd creeditedd (Cassh, Reent Exxpensee, Serrvice Revennue, eetc.); (c) whethher thhe speecificc ac

36、coount iis inccreaseed or decreeased; and (d) tthe noormal balannce off the speciific aaccounnt. Usse thee folllowingg formmat, iin whiich trransacction 1 is givenn as aan exaample. Accouunt Deebitedd Accouunt Crrediteed (a) (b) (c) (d) (a) (b) (c) (d)Trans- Bassic SSpeciffic Normmal BBasic Speecifi

37、cc Noormalaction Typpe Accoount Effecct Balannce Typee Accoount Effecct Balaance 1 Asseet Cash Incrrease Debiit SStock- Coommon Increease Crediit holdders sttock equiityJournallize tthe trransacction. Do nnot prrovidee expllanatiions.This innformaation relattes too Mattthews Real Estatte Ageency CCo

38、rporrationn.Oct. (1) Sttockhoolderss inveested $25,0000 inn exchhange for ccommonn stocck of the ccorporrationn.Hires aan admministtrativve asssistannt at an annnual salarry of $42,0000.Buys offfice furniiture for $3,6000, on assouunt.Sells aa housse andd lot for MM.E. MMills; commmissioons duue fro

39、om Millls, $10,8000 (noot paiid by Millss at tthis ttime).(10) Reeceivees cassh of $140 as coommisssion ffor accting as reental agentt rentting aan apaartmennt.(27) Paays $7700 onn accoount ffor thhe offfice ffurnitture ppurchaased oon Octtober 3.(30) Paays thhe admministtrativve asssistannt $3,500

40、iin sallary ffor Occtoberr.InstrucctionssPreparee the debitt-creddit annalysiis forr eachh trannsactiion ass illuustratted onn pagees 1199-124.Transacction data for MMattheews Reeal Esstate Agenccy aree pressentedd in 33 .InstrucctionssJournallize tthe trransacction. Do nnot prrovidee expllanatiions

41、.Selecteed traansacttions for PP.F. QQuick Corpooratioon durring iits fiirst mmonth in buusinesss aree pressentedd beloow.Sept. (1) IIssuedd commmon sttock iin excchangee for $15,0000 caash reeceiveed froom invvestorrs. (5) Puurchassed eqquipmeent foor $122,000, payiing $22,000 in caash annd thee ba

42、laance oon acccount. (25) PPaid $5,0000 cashh on bbalancce oweed forr equiipmentt. (30) PPaid $500 ccash ddivideend.P.F. Quuicks chaart off accoounts showss: Cassh, Eqquipmeent, AAccounnts Paayablee, Commmon SStock, and Dividdends.InstrucctionssPreparee a taabularr anallysis of thhe Sepptembeer traa

43、nsacttion. The ccolumnn headdings shoulld be: Cashh + Eqquipmeent = Accouunts PPayablle + SStockhholderrs Equiity. FFor trransacctionss affeectingg stocckholdders equiity, pprovidde expplanattions in thhe rigght maargin, as sshown on paage1077.Journallize tthe trransacction. Do nnot prrovidee explla

44、natiions.Post thhe traansacttions to T accouunts.Chapterr 4The folllowinng inddependdent ssituattions requiire prrofesssionall judggementt for deterrmininng wheen to recoggnize revennue frrom thhe traansacttion.Southweest Aiirlinees sellls yoou an advannce-puurchasse airrline tickeet in Septeember f

45、or yyour fflightt homee at CChristtmas.Ultimatte Eleectronnics ssell yyou a home theattre onn a “no moonkey down, no iintereest, aand noo paymments for oone yeear” prommotionnal deeal.The Torronto Blue Jays sellss seasson tiicketss onliine too gamees in the SSkydomme. Faans caan purrchasee the ticke

46、ets att any time, althhough the sseasonn doessnt offficiallly beegin uuntil Aprill. Thee majoor leaague bbasebaall seeason runs from Aprill throough OOctobeer.In Auguust, yyou orrder aa sweaater ffrom SSears usingg its onlinne cattalog. The sweatter arrrivess in SSeptemmber iin fulll in Novemmber.In

47、 Auguust, yyou orrder aa sweaater ffrom SSears usingg its onlinne cattalog. The sweatter arrrivess in SSeptemmber, and yyou chharge it too yourr Searrs creedit ccard. You rreceivve andd pay the SSears bill in Occtoberr.InstrucctionIdentiffy wheen revvenue shoulld be recoggnizedd in eeach oof thee ab

48、ovve sittuatioons.Your exxaminaation of thhe reccords of a compaany thhat foollowss the cash basiss of aaccounnting tellss you that the ccompannys repportedd cashh basiis earrningss in 22007 aare $333,6400. If this firm had ffollowwed acccruall basiis acccountiing prracticces, iit wouuld haave reepo

49、rteed thee folllowingg yearr-end balannces. 20007 2006 AAccounnts reeceivaable $3,4000 $22,300 SSuppliies onn handd 11,300 1,160 UUnpaidd wagees oweed 1,500 2,4400 OOther unpaiid amoounts 1,400 1,6600InstrucctionDetermiine thhe commpanys nett earnning oon an accruual baasis ffor 20007. SShow aall yo

50、our caalculaationss in aan ordderly fashiion.In its firstt yearr of ooperattions Bere Compaany eaarned $28,0000 inn servvice rrevenuue, $66,000 of whhich wwas onn accoount aand sttill ooutstaandingg at yyear-eend. TThe reemainiing $222,0000 was receiived iin cassh froom cusstomerrs.The commpany incu

51、rrred ooperatting eexpensses off $14,500. Of thhese eexpensses $113,0000 weree paidd in ccash; $1,5000 wass stilll oweed on accouunt att yearr-end. In aadditiion, BBere pprepaiid $3,600 ffor innsurannce cooveragge thaat wouuld noot be used untill the seconnd yeaar of operaationss.InstrucctionssCalcu

52、laate thhe firrst yeears nett earnnings underr the cash basiss of aaccounnting, and calcuulate the ffirst years nett earnning uunder the aaccruaal bassis off accoountinng.Which bbasis of acccountting (cash or acccruall) proovidess moree usefful innformaation for ddecisiion maakers?The Raddical Edge,

53、 a skki tunning aand reepair shop, openned inn Noveember 2006. The compaany caarefullly keept trrack oof alll its cash receiipts aand caash paaymentts. Thhe folllowinng infformattion iis avaailablle at the eend off the ski sseasonn, Aprril 300, 20007. CCash RReceippts Cassh Payymentss Issuee of ccom

54、monn sharres $20,0000 Paymeent foor reppair eequipmment $9,200 Rent paymeents 1,2225 Newsppaper adverrtisinng payyment 3375 Utiliity biills ppaymennts 970 Part-time helpeers wagges paaymentts 2,6600 Incomme taxx paymment 10,0000 Cash receiipts ffrom sski annd snoowboarrd repair serviices 32,1150 Sub

55、tootals 552,1500 24,370 Cash balannce 27,7780 Totalls $552,1500 $52,150You leaarn thhat reepair equippment has aan esttimateed useeful llife oof 5 yyears. The compaany reents sspace at a cost of $1175 peer monnth onn a onne-yeaar leaase. TThe leease ccontraact reequirees payyment of thhe firrst annd

56、 lasst monnths rennt in advannce, wwhich was ddone. The ppart-ttimer helpeer is owed $220 at Appril 330, 20007, ffor unnpaid wagess. At Aprill 30, 2007, custtomerss owe The RRadicaal Edgge $6550 forr servvices they have receiived bbut haave noot yett paidd for.InstrucctionssPreparee an aaccruaal-bas

57、sis inncome stateement for tthe 6 monthhs endded Appril 330,20007.Preparee the Aprill 30, 2007, classsifieed ballance sheett.5. MaaxPlayy, a mmaker of ellectroonic ggames for kkids, has jjust ccompleeted iits fiirst yyear oof opeeratioons. TThe coompanyys salles grrowth was eexplossive. To enncouraa

58、ge laarge nnationnal sttores to caarry iits prroductts MaxxPlay offerred 1880-dayy finaancingg-meanning iits laargestt custtomerss do nnot paay forr nearrly 6 monthhs. Beecausee MaxPPlay iis a nnew coompanyy, itss compponentts suppplierrs inssist oon beiing paaid caash onn deliivery. Alsoo, it had t

59、to payy up ffront for 22 yearrs of insurrance. At tthe ennd of the yyear MMaxPlaay oweed empployeees forr one full monthh of ssalariies, bbut duue to a cassh shoortfalll, itt prommised to paay theem thee firsst weeek of next year.InstrucctionssExplainn how cash and aaccruaal acccountiing woould ddif

60、ferr for each of thhe eveents llistedd abovve andd desccribe the pproperr accrrual aaccounnting.Assume that at thhe endd of tthe yeear MaaxPlayy repoorted a favvorablle nett incoome, yyet thhe commpanys mannagemeent iss conccernedd becaause tthe coompanyy is vvery sshort of caash. EExplaiin howw Max