会计英语课后习题参考答案docWord文件下载.docx

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10

3.

Describeeachtransactionbasedonthesummaryabove.

Purchasedlandforcash,$6,000.

Investmentforcash,$3,200.

Paidexpense$1,200.

Purchasedsuppliesonaccount,$800.

Paidowner’spersonaluse,$750.

Paidcreditor,$1,500

Suppliesusedduringtheperiod,$630.

4.

Equity

Beginning

275,000

80,000

195,000

Add.investment

48,000

Add.Netincome

27,000

Lesswithdrawals

-35,000

Ending

320,000

85,000

235,000

5.

（a）

March31,20XX

April30,20XX

Cash

4,500

5,400

Accountsreceivable

2,560

4,100

Supplies

840

450

Totalassets

7,900

9,950

Liabilities

Accountspayable

430

690

TinaPierce,Capital

7,470

9,260

（b）netincome=9,260-7,470=1,790

（c）netincome=1,790+2,500=4,290

Chapter2

1.

a.ToincreaseNotesPayable-CR

b.TodecreaseAccountsReceivable-CR

c.ToincreaseOwner,Capital-CR

d.TodecreaseUnearnedFees-DR

e.TodecreasePrepaidInsurance-CR

f.TodecreaseCash-CR

g.ToincreaseUtilitiesExpense-DR

h.ToincreaseFeesEarned-CR

i.ToincreaseStoreEquipment-DR

j.ToincreaseOwner,Withdrawal-DR

2.

a.

Cash

1,800

Accountspayable

b.

Revenue

Accountsreceivable

c.

Owner’swithdrawals

1,500

SalariesExpense

d.

AccountsReceivable

750

Revenue

PrepareadjustingjournalentriesatDecember31,theendoftheyear.

Advertisingexpense

600

Prepaidadvertising

Insuranceexpense（2160/12*2）

360

Prepaidinsurance

Unearnedrevenue

2,100

Servicerevenue

Consultantexpense

900

Prepaidconsultant

3,000

4.

1.$388,400

2.$22,520

3.$366,600

4.$21,800

5.

1.netlossfortheyearendedJune30,2002:

$60,000

2.DRJonNissen,Capital60,000

CRincomesummary60,000

3.post-closingbalanceinJonNissen,CapitalatJune30,2002:

$54,000

Chapter3

1.DundeeRealtybankreconciliation

October31,2009

Reconciledbalance$6,220Reconciledbalance$6,220

2.April7Dr:

Notesreceivable—Acompany5400

Cr:

Accountsreceivable—Acompany5400

12Dr:

Cash5394.5

Interestexpense5.5

Notesreceivable5400

June6Dr:

Accountsreceivable—Acompany5533

Cash5533

18Dr:

Cash5560.7

Cr:

Accountsreceivable—Acompany5533

Interestrevenue27.7

3.（a）Asawhole:

theendinginventory=685

（b）appliedseparatelytoeachproduct:

theendinginventory=625

4.Thecostofgoodsavailableforsale=endinginventory+thecostofgoods=80,000+200,000*500%=80,000+1,000,000=1,080,000

5.

（1）24,000+60,000-90,000*0.8=12000

（2）（60,000+24,000）/（85,000+31,000）*（85,000+31,000-90,000）=18828

Chapter4

1.（a）second-yeardepreciation=（114,000–5,700）/5=21,660;

（b）second-yeardepreciation=8,600*（114,000–5,700）/36,100=25,800;

（c）first-yeardepreciation=114,000*40%=45,600

second-yeardepreciation=（114,000–45,600）*40%=27,360;

（d）second-yeardepreciation=（114,000–5,700）*4/15=28,880.

2.（a）weighted-averageaccumulatedexpenditures（2008）=75,000*12/12+84,000*9/12+180,000*8/12+300,000*7/12+100,000*6/12=483,000

（b）interestcapitalizedduring2008=60,000*12%+（483,000–60,000）*10%=49,500

3.

（1）depreciationexpense=30,000

（2）bookvalue=600,000–30,000*2=540,000

（3）depreciationexpense=（600,000–30,000*8）/16=22,500

（4）bookvalue=600,000–30,000*8–22,500=337,500

4.Situation1:

Jan1st,2008InvestmentinM260,000

Cash260,000

June30Cash6000

Dividendrevenue6000

Situation2:

January1,2008InvestmentinS81,000

Cash81,000

June15Cash10,800

InvestmentinS10,800

December31InvestmentinS25,500

InvestmentRevenue25,500

5.a.December31,2008InvestmentinK1,200,000

Cash1,200,000

June30,2009DividendReceivable42,500

DividendRevenue42,500

December31,2009Cash42,500

DividendReceivable42,500

b.December31,2008InvestmentinK1,200,000

InvestmentinK42,500

InvestmentinK146,000

Investmentrevenue146,000

c.Ina,theinvestmentamountis1,200,000

netincomereposedis42,500

Inb,theinvestmentamountis1,303,500

Netincomereposedis146,000

Chapter5

a.June1:

Dr:

Inventory198,000

Cr:

AccountsPayable198,000

June11:

AccountsPayable198,000

NotesPayable198,000

June12:

Cash300,000

NotesPayable300,000

b.Dr:

InterestExpenses（fornotesonJune11）12,100

InterestPayable12,100

Dr:

InterestExpenses（fornotesonJune12）8,175

InterestPayable8,175

c.Balancesheetpresentation:

NotesPayable498,000

AccruedInterestonNotesPayable20,275

d.ForGreen:

InterestPayable12,100

InterestExpense7,700

Cash217,800

ForWestern:

InterestPayable8,175

InterestExpense18,825

Cash327,000

（1）208Deferredincometaxisaliability2,400

Incometaxpayable21,600

209Deferredincometaxisanasset600

Incometaxpayable26,100

（2）208:

Taxexpense24,000

Incometaxpayable21,600

Deferredincometax2,400

209:

Taxexpense25,500

Deferredincometax600

Cr:

Incometaxpayable26,100

（3）208:

Incomestatement:

taxexpense24,000

Balancesheet:

incometaxpayable21,600

taxexpense25,500

incometaxpayable26,100

a.1,560,000（20000000*12%*（1-35%））

b.7.8%（20000000*12%*（1-35%）/20000000）

maturityvalue

numberofinterestperiods

statedrateperinterest-period

effectiveinterestrateperinterest-period

paymentamountperperiod

presentvalueofbondsatdateofissue

$10

40

3.75%

3%

$0.375

$11.73

20

10%

12%

17.74

25

0%

8.05

NotesPayable14,400

InterestPayable1,296

AccountsPayable60,000

+UnearnedRentRevenue7,200

CurrentLiabilities82,896

Chapter6

1.Mar.1

Cash1,200,000

CommonStock1,000,000

Paid-inCapitalinExcessofParValue200,000

Mar.15

OrganizationExpense50,000

CommonStock50,000

Mar.23

Patent120,000

CommonStock100,000

Paid-inCapitalinExcessofParValue20,000

Thevalueofthepatentisnoteasilydeterminable,sousetheissuepriceof$12pershareonMarch1whichistheissuingpriceofcommonstock.

2.July.1

TreasuryStock180,000

Cash180,000

Thecostoftreasurypurchasedis180,000/30,000=60pershare.

Nov.1

Cash70,000

TreasuryStock60,000

Paid-inCapitalfromTreasuryStock10,000

Sellthetreasuryatthecostof$60pershare,andsellingpriceis$70pershare.Thetreasurystockissoldabovethecost.

Dec.20

Cash75,000

Paid-inCapitalfromTreasuryStock15,000

TreasuryStock90,000

Thecostoftreasuryis$60persharewhilethesellingpriceis$50whichislowerthanthecost.

3.a.July1

RetainedEarnings24,000

DividendsPayable—PreferredStock24,000

b.Sept.1

Cash24,000

c.Dec.1

RetainedEarnings80,000

DividendsPayable—CommonStock80,000

d.Dec.31

IncomeSummary350,000

RetainedEarnings350,000

a.Preferredstockgivesitsownercertainadvantagesovercommonstockholders.Thesebenefitsincludetherighttoreceivedividendsbeforethecommonstockholdersandtherighttoreceiveassetsbeforethecommonstockholdersifthecorporationliquidates.Corporationpayafixedamountofdividendsonpreferredstock.

The7%cumulativetermindicatesthattheinvestorsearn7%fixeddividends.

b.7%*120%*20,000=504,000

c.Ifcorporationissueddebt,ithasobligationtorepayprincipal

d.Thedateofdeclarationdecreasethestockholders’equity;

thedateofrecordandthedateofpaymenthavenoeffectonstockholders.

a.Jan.15

RetainedEarnings35,000

AccumulatedDepreciation35,000

Tocorrecterrorinprioryear’sdepreciation.

b.Mar.20

LossfromEarthquake70,000

Building70,000

c.Mar.31

RetainedEarnings12,500

DividendsPayable12,500

d.Apirl.15

DividendsPayable12,500

Cash12,500

e.June30

RetainedEarnings37,500

CommonStock25,000

AdditionalPaid-inCapital12,500

Torecordissuanceof10%stockdividend:

10%*25,000=2,500shares;

2500*$15=$37,500

f.Dec.31

DepreciationExpense14,000

AccumulatedDepreciation14,000

Originaldepreciation:

$40,000/40=$10,000peryear.BookvalueonJan.1,2009is$350,000（=$400,000-5*$10,000）.Deprecationfor2009is$14,000（=$350,000/25）.

g.Thecompanydoesnotneedtomakeentryintheaccountingrecords.ButtheamountofCommonStock（$10parvalue）decreases275,000,whiletheamountofCommonStock（$5parvalue）increases275,000.

Chapter7

Requirement1

Ifrevenueisrecognizedatthedateofdelivery,thefollowingjournalentrieswouldbeusedtorecordthetransactionsforthetwoyears: