financial accounting知到智慧樹期末考試答案題庫2024年秋德州學院

financialaccounting知到智慧樹期末考試答案題庫2024年秋德州學院Undertheallowancemethodforuncollectiblereceivables,theentrytorecorduncollectible-accountexpensewilldecreaseassetsandhavenoeffectonnetincome.（）

A:錯B:對

答案:錯Mac'sinvestmentinlessthan2%ofMobil'sstock,Macexpecttoholdforthreeyearsandthensell,thistypeofinvestmentisavailable-for-sale.（）

A:對B:錯

答案:對ROAisanimportantmeasureofprofitability.（）

A:錯B:對

答案:對Whenabondissoldatadiscount,thecashreceivedislessthanthepresentvalueofthefuturecashflowsfromthebond,basedonthemarketrateofinterestonthedateofissue.（）

A:錯B:對

答案:錯Purchasingcomputerequipmentforcashwillhavenoeffectontotalassets,totalliabilities,orstockholdersequity.（）

A:錯B:對

答案:對Prepaidexpensesandcashisincludedinthecalculationofthequick(acid-test)ratio.（）

A:錯B:對

答案:錯Expensesnormallyhaveacreditbalance.（）

A:對B:錯

答案:錯Thesimultaneousincreaseofassetsandliabilitieswillcertainlyaffecttheaccountingequation.（）

A:錯B:對

答案:錯Cashpaidtopurchaseabuildingappearsonthestatementofcashflowsamongtheinvestingactivities.（）

A:對B:錯

答案:對Acopyright,atrademark,apatent,alloftheaboveareintangibleassets.（）

A:對B:錯

答案:對ThejournalentrytorecordthepurchaseofsuppliesonaccountwilldebitsSuppliesandcreditsAccountsPayable.（）

A:錯B:對

答案:對Preferredstockhavethepreferenceastovoting.（）

A:對B:錯

答案:錯ThejournalentrytorecordapaymentonaccountwilldebitCashandcreditAccountPayable.（）

A:對B:錯

答案:錯Thewordmarketasusedin“thelowerofcostormarket"generallymeans:currentreplacementcost.（）

A:對B:錯

答案:對Accelerateddepreciationgeneratesagreateramountofdepreciationoverthelifeoftheassetthandoesstraight-linedepreciation.（）

A:對B:錯

答案:錯Recordingestimatedwarrantyexpenseintheyeartherelatedproductsaresoldbestfollowsexpenserecognition(matching)ofaccountingprinciple.（）

A:錯B:對

答案:對Anothernameforthebalancesheetisthestatementofprofitandloss.（）

A:錯B:對

答案:錯KlineCompanyfailedtorecorddepreciationofequipment,thisomissionwillaffectKline'sfinancialstatementsas:netincomeisoverstatedandassetsareoverstated.（）

A:對B:錯

答案:對Creditsalesincreasereceivables.（）

A:對B:錯

答案:對Theexpenserecognitionprincipledirectsaccountantstoidentifyandmeasureallexpensesincurredanddeductthemfromrevenuesearnedduringthesameperiod.（）

A:錯B:對

答案:對Thepaymentofthefaceamountofabondonitsmaturitydateisregardedasanoperatingactivity.（）

A:錯B:對

答案:錯Ifthecredittorecordthepaymentofanaccountpayableisnotposted,cashwillbeoverstated.（）

A:錯B:對

答案:對Oneoftheinternalcontrol’sobjectiveismonitoring.（）

A:對B:錯

答案:錯Goodwillisnotsubjecttoadecreasingbookvaluethroughdepreciation,depletion,oramortization.（）

A:錯B:對

答案:對Inadouble-entryaccountingsystem:liabilities,owners'equity,andrevenueaccountsallhavenormaldebitbalances.（）

A:對B:錯

答案:錯ThefllowingnormalbalancesappearontheadjustedtrialbalanceofAdamsCompany:Equipment.................................................................$90,000Accumulateddepreciation,equipment..........$12,000Depreciationexpense,equipment....................$3,000Thebookvalueoftheequipmentis（）

A:$78,000

B:$87,000

C:$75,000

D:$66,000

答案:$78,000Ifthecredittorecordthepurchaseofsuppliesonaccountisnotposted,（）

A:assetswillbeunderstated.

B:stockholders'equitywillbeunderstated.

C:liabilitieswillbeunderstated.

D:expenseswillbeoverstated.

答案:liabilitieswillbeunderstated.Thebasicsummarydeviceofaccountingisthe（）

A:trialbalance.

B:account.

C:journal.

D:ledger.

答案:account.AccountspayableturnoverforBigBlue,Inc.,increasedfrom10to12during2021.Whichofthefollowingstatementsbestdescribeswhatthismeans?（）

A:Thecompanypaiditsaccountspayablemorequicklyin2021,signalingastrongerliquidityposition.

B:Inventoryturnedoverfasterin2021,meaningsalesincreased.

C:Thecompanypaiditsaccountspayablemoreslowlyin2021,signalingaweakerliquidityposition.

D:Notenoughinformationisprovidedtoformaconclusion.

答案:Thecompanypaiditsaccountspayablemorequicklyin2021,signalingastrongerliquidityposition.Whichofthefollowingisnotneededtocomputethepresentvalueofaninvestment?（）

A:Thelengthoftimebetweentheinvestmentandfuturereceipt

B:Theamountofthereceipt

C:Therateofinflation

D:Theinterestrate

答案:TherateofinflationDuringFebruary,assetsincreasedby$84,000andliabilitiesincreasedby$26,000.Stockholders'equitymusthave()

A:decreasedby$110,000.

B:decreasedby$58,000.

C:increasedby$58,000.

D:increasedby$110,000.

答案:increasedby$58,000.DawsonCompanyisauthorizedtoissue70,000sharesof$2parcommonstock.OnNovember30,2021,Dawsonissued10,000sharesat$22pershare.Dawson'sjournalentrytorecordthesefactsshouldincludea（）

A:BothcredittoPaid-inCapitalinExcessofParfor$220,000andcredittoCommonStockfor$20,000B:debittoCommonStockfor$220,000.

C:credittoPaid-inCapitalinExcessofParfor$220,000.

D:credittoCommonStockfor$20,000

答案:credittoCommonStockfor$20,000SupposeRoseCorporationborrows$10millionona10-yearnotepayable.HowdoesthistransactionaffectRose'scurrentratioanddebtratio?（）

A:Hurtsthecurrentratioandimprovesthedebtratio

B:Improvesbothratios

C:Hurtsbothratios

D:Improvesthecurrentratioandhurtsthedebtratio

答案:ImprovesthecurrentratioandhurtsthedebtratioOnJanuary1,2021,Microsport,Inc.,purchased$120,000facevalueofthe9%bondsofServiceExpress,Inc.,at104.ThebondsmatureonJanuary1,2026.FortheyearendedDecember31,2024,Microsportreceivedcashinterestof（）

A:$11,800

B:$10,800

C:$9,800

D:$8,800

答案:$10,800BerkshireFarms,Ltd.,madesalesof$680,000andhadcostofgoodssoldof$440,000.Inventorydcreasedby$25,000,andaccountspayabledecreasedby$12,000.Operatingexpenseswere$195,000.HowmuchwasBerkshireFarms’netincomefortheyear?（）

A:$440,000

B:$33,000

C:$20,000

D:$45,000

答案:$45,000Thenatureofanassetisbestdescribedas（）

A:somethingownedbyabusinessthathasareadymarketvalue.

B:somethingwithphysicalformthat'svaluedatcostintheaccountingrecords.

C:aneconomicresourcerepresentingcashortherighttoreceivecashinthefuture.

D:aneconomicresourcethat'sexpectedtobenefitfutureoperations.

答案:aneconomicresourcethat'sexpectedtobenefitfutureoperations.OnJanuary1,2021,FreedomCommunicationspurchasedanewpieceofequipmentthatcost$35,000.Theestimatedusefullifeisfiveyearsandestimatedresidualvalueis$8,000.IFFreedomusesthedouble-declining-balancemethod,whatisdepreciationfor2022?（）

A:$8,400

B:$22,400

C:$6,480

D:$14,000

答案:$8,400SheridanMoving&StorageCo.paid$80,000for25%ofthecommonstockofHollandCo.Hollandearnednetincomeof$60,000anddeclaredandpaiddividendsof$40,000.ThecarryingvalueofSheridan'sinvestmentinHollandis（）

A:$100,000

B:$85,000

C:$140,000

D:$80,000

答案:$85,000BondcarryingvalueequalsBondsPayable（）

A:plusDiscountonBondsPayable

B:bothminusPremiumonBondsPayableandplusDiscountonBondsPayableC:minusPremiumonBondsPayable

D:minusDiscountonBondsPayable

E:bothPlusPremiumonBondsPayableandminusDiscountonBondsPayableF:PlusPremiumonBondsPayable.

答案:bothPlusPremiumonBondsPayableandminusDiscountonBondsPayablePurchasingalaptopcomputeronaccountwill（)

A:havenoeffectonstockholders'equity.

B:selectotherthreechoicesall.

C:increasetotalliabilities.

D:increasetotalassets.

答案:selectotherthreechoicesall.Hydra,Inc,wasreviewingitsassetsforimpairmentattheendofthecurrentyear.Informationaboutoneofitsassetsisasfollows.Netbookvalue$1,000,000Estimatedfuturecashflows$850,000Fair(market)value$820,000Hydrashouldreportanimpairmentlossforthecurrentyearof（）

A:$30,000

B:$0

C:$150,000

D:$180,000

答案:$180,000Whichaccountsappearonwhichfinancialstatement?（）

A:BalancesheetIncomestatement

Receivables,land,payablesRevenues,supplies

B:BalancesheetIncomestatement

Cash,receivables,payablesRevenues,expenses

C:BalancesheetIncomestatement

Expenses,payables,cashRevenues,receivables,land

D:BalancesheetIncomestatement

Cash,revenues,landExpenses,payables

答案:BalancesheetIncomestatementCash,receivables,payablesRevenues,expensesFourStar,anewcompany,cmpletedthesetransactions:(1)Stockholdersinvested$54,000cashandinventorywithafairvalueof$30,000;(2)Salesonaccount,22,000.WhatwillFourStar’stotalassetsequal?（）

A:$76,000

B:$84,000

C:$54,000

D:$106,000

答案:$106,000TheendinginventoryofCarrollCo.is$46,000.Ifbeginninginventorywas$70,000andgoodsavailable(costofgoodsavailableforsale)totaled$115,000,thecostofgoodssoldis（）

A:$45,000

B:$69,000

C:$139,000

D:$70,000

答案:$69,000OnOctober1,2021,FreedomCommunicationspurchasedanewpieceofequipmentthatcost$35,000.Theestimatedusefullifeisfiveyearsandestimatedresidualvalueis$8,000.AssumethatFreedomusesthestraight-linemethodofdepreciationandsellstheequipmentfor$22,400onOctober1,2025.Theresultoftheequipmentisagain(loss)of.（）

A:-$4,600.

B:$0

C:$1,000.

D:$9,000.

答案:$9,000.Purchasingabuildingfor$95,000bypayingcashof$25,000andsigninganotepayablefor$70,000will（）

A:increasebothtotalassetsandtotalliabilitiesby$70,000.

B:increasebothtotalassetsandtotalliabilitiesby$95,000.

C:decreasetotalassetsandincreasetotalliabilitiesby$25,000.

D:decreasebothtotalassetsandtotalliabilitiesby$25,000.

答案:increasebothtotalassetsandtotalliabilitiesby$