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首页 《会计专业英语》期末复习资料100601.doc

《会计专业英语》期末复习资料100601.doc

《会计专业英语》期末复习资料100601.doc

上传者: 王山琴 2017-10-16 评分 0 0 0 0 0 0 暂无简介 简介 举报

简介:本文档为《《会计专业英语》期末复习资料100601doc》,可适用于综合领域,主题内容包含《会计专业英语》期末复习资料“会计专业英语”期末复习提纲与习题(复习和考试主要参考教学课件。本教材涉及内容只是点到为止没有作深入讲解课件比较详细请以符等。

《会计专业英语》期末复习资料“会计专业英语”期末复习提纲与习题(复习和考试主要参考教学课件。本教材涉及内容只是点到为止没有作深入讲解课件比较详细请以课件为主~)一般考试题型:一、英译汉与汉译英:(每题分本大题共分)二、单项选择题:(每小题分本大题共分)三、判断题:(每小题分本大题共分)四、问答题:(每题分本大题共分)五、业务题:(本大题共分)注意:判断与单选题见在线练习其他见后面内容。要求掌握的词汇:第一章第二章Accounting会计Asset资产Accountingprocess会计程序Liability负债Accrualbasis应计制(权责发生制)Equity权益Cashbasis现金制(收付实现制)Revenue收入Audit审计Expense费用Balancesheet资产负债表Gain利得Incomestatement收益表(利润表)Loss损失Statementofcashflow现金流量表Income收益Financialstatement财务报表Historicalcost历史成本Soleproprietorship独资企业Currentcost现行成本Partnership合伙Presentvalue现值Corporation公司Realizablevalue可实现价值Financialaccounting财务会计Incometax所得税Managerialaccounting管理会计Inventory存货Economicentity经济实体Receivable应收款Goingconcern持续经营Financialposition财务状况Unitofmeasurement货币计量Performance业绩Accountingperiod会计期间第三章第四章Currentassets流动资产Operatingcycle经营循环Currentliabilities流动负债Accountingcycle会计循环Accountspayable应付账款Account账户Accruedliability应计负债Accountingequation会计等式Administrativeexpense管理费用Trialbalance试算平衡(试算表)Amortization摊销Journal日记账Bond债券Ledger分类账Depreciation折旧Adscribethepurposesoffinancialstatementanalysis财务报表分析的目的。(教材P第是的和)WhatisthepurposeofastatementofcashflowsHowdoesitdifferfromabalancesheetandanincomestatement说明现金流量表的作用这与收益表和资产负债表的作用有何不同,(教材P第第一段教材P第和P第的第一段)Whatarethehorizontalanalysis,verticalAnalysisandratioanalysis什么是横向分析、纵向分析、比率分析,(横向分析P第比例向分析PTtrendAnalysis,比率分析P第”)各章业务题:ChapterAccountingCycle会计循环RecordthefollowingselectedtransactionsforMarchinatwocolumnjournal,identifyingeachentrybyletter:(a)Received$,fromShirleyKnowles,owner(b)Purchasedequipmentfor$,,paying$,incashandgivinganotepayablefortheremainder(c)Paid$,forrentforMarch(d)Purchased$,ofsuppliesonaccount(e)Recorded$,offeesearnedonaccount(f)Received$,incashforfeesearned(g)Paid$tocreditorsonaccount(h)Paidwagesof$,(i)Received$,fromcustomersonaccount(j)Recordedowner'swithdrawalof$,ANS:(a)Cash,ShirleyKnowles,Capital,(b)Equipment,Cash,NotesPayable,(c)RentExpense,Cash,(d)Supplies,AccountsPayable,(e)AccountsReceivable,FeesEarned,(f)Cash,FeesEarned,(g)AccountsPayableCash(h)WagesExpense,Cash,(i)Cash,AccountsReceivable,(j)ShirleyKnowles,Drawing,Cash,JournalizethesixentriesthatadjusttheaccountsatDecemberOneoftheaccountswasaffectedbytwodifferentadjustingentriesUnadjustedAdjustedTrialBalanceTrialBalanceCash,,AccountsReceivable,,Supplies,PrepaidInsurance,Equipment,,AccumulatedDepreciation,WagesPayable,UnearnedFees,,AnnCole,Capital,,FeesEarned,,WagesExpense,,SuppliesExpense,InsuranceExpense,DepreciationExpense,Total,,,,========================ANS:AccountsReceivableFeesEarnedSuppliesExpense,Supplies,InsuranceExpense,PrepaidInsurance,DepreciationExpense,AccumulatedDepreciation,UnearnedFees,FeesEarned,WagesExpense,WagesPayable,Foreachofthefollowing,journalizethenecessaryadjustingentry:(a)Abusinesspaysweeklysalariesof$,onFridayforafivedayweekendingonthatdayJournalizethenecessaryadjustingentryattheendofthefiscalperiod,assumingthatthefiscalperiodends()onWednesday,()onThursday(b)Thebalanceintheprepaidinsuranceaccountbeforeadjustmentattheendoftheyearis$,Journalizetheadjustingentryrequiredundereachofthefollowingalternatives:()theamountofinsuranceexpiredduringtheyearis$,,()theamountofunexpiredinsuranceapplicabletoafutureperiodis$,(c)OnJulyofthecurrentyear,abusinesspays$,tothecityforlicensetaxesforthecomingfiscalyearThesamebusinessisalsorequiredtopayanannualpropertytaxattheendoftheyearTheestimatedamountofthecurrentyear'spropertytaxallocabletoJulyis$,()JournalizethetwoadjustingentriesrequiredtobringtheaccountsaffectedbythetaxesuptodateasofJuly()WhatistheamountoftaxexpenseforJuly(d)Theestimateddepreciationonequipmentfortheyearis$,ANS:(a)()SalaryExpense,SalariesPayable,()SalaryExpense,SalariesPayable,(b)()InsuranceExpense,PrepaidInsurance,()InsuranceExpense,PrepaidInsurance,(c)()TaxesExpense,PrepaidLicenseTaxes,TaxesExpense,PropertyTaxesPayable,()$,($,$,)(d)DepreciationExpense,AccumulatedDepreciationEquipment,OnthebasisofthefollowingdatatakenfromtheAdjustedTrialBalancecolumnsoftheworksheetfortheyearendedOctoberforShoreCo,journalizethefourclosingentriesCash$,AccountsReceivable,Supplies,Equipment,AccumulatedDepreciation$,AccountsPayable,StanShore,Capital,StanShore,Drawing,FeesEarned,SalaryExpense,RentExpense,DepreciationExpense,SuppliesExpense,MiscellaneousExpense,$,$,================ANS:OctFeesEarned,IncomeSummary,IncomeSummary,SalaryExpense,RentExpense,DepreciationExpense,SuppliesExpense,MiscellaneousExpense,IncomeSummary,StanShore,Capital,StanShore,Capital,StanShore,Drawing,ChapterCurrentAssets流动资产ThebankstatementforAllenCoindicatesabalanceof$,onJune,AfterthejournalsforJunehadbeenposted,thecashaccounthadabalanceof$,Prepareabankreconciliationonthebasisofthefollowingreconcilingitems:(a)Cashsalesof$hadbeenerroneouslyrecordedinthecashreceiptsjournalas$(b)Depositsintransitnotrecordedbybank,$(c)Bankdebitmemorandumforservicecharges,$(d)Bankcreditmemorandumfornotecollectedbybank,$,including$interest(e)Bankdebitmemorandumfor$NSF(notsufficientfunds)checkfromAliceBell,acustomer(f)Checksoutstanding,$,ANS:AllenCoBankReconciliationJune,Cashbalanceaccordingtobankstatement$,Adddepositsintransitnotrecordedbybank$,Deductoutstandingchecks,Adjustedbalance$,=========Cashbalanceaccordingtodepositor'srecords$,Add:Notecollectedbybank,including$interest$,Errorinrecordingcashsalesof$as$,$,Deduct:NSFcheckfromAliceBell$BankservicechargesAdjustedbalance$,=========Usingthefollowinginformation,prepareabankreconciliationforColeCoforMayofthecurrentyear:(a)Thebankstatementbalanceis$,(b)Thecashaccountbalanceis$,(c)Outstandingchecksamountedto$(d)Depositsintransitare$(e)Thebankservicechargeis$(f)Acheckfor$forsupplieswasrecordedas$intheledgerANS:ColeCoBankReconciliationMay,Cashbalanceaccordingtobankstatement$,Adddepositsintransitnotrecordedbybank$,DeductoutstandingchecksAdjustedbalance$,======Cashbalanceaccordingtodepositor'srecords$,Deduct:Bankservicecharge$ErrorinrecordingAdjustedbalance$,======Forabusinessthatmakesadvanceprovisionforuncollectiblereceivables(a)Journalizetheentriestorecordthefollowing:()RecordtheadjustingentryatDecember,theendofthefiscalyear,toprovidefordoubtfulaccountsTheaccountsreceivableaccounthasabalanceof$,,andthecontraassetaccountbeforeadjustmenthasadebitbalanceof$Analysisofthereceivablesindicatesdoubtfulaccountsof$,()InMarchofthefollowingfiscalyear,the$owedbyFlakeCoonaccountiswrittenoffasuncollectible()Eightmonthslater,$oftheFlakeCoaccountisreinstatedandpaymentofthatamountisreceived()InOctober,$isreceivedonthe$owedbyDoeCoandtheremainderiswrittenoffasuncollectible(b)Basedonthedatain(a)()above,whatisthenetrealizablevalueoftheaccountsreceivableasreportedonthebalancesheetasofDecember(c)Assumingthatthebusinesshadbeenfollowingthedirectwriteoffprocedureinaccountingforuncollectiblereceivables,journalizetheentriestorecordthefollowing:()RecordedthewriteoffofaccountofFlakeCo(a)()above()ReinstatedaccountofFlakeCofor$andrecordedpaymentofthatamountreceived(a)()above()Recordedthereceiptof$fromDoeCoin(a)()aboveandwroteofftheremainderowedasuncollectibleANS:(a)()UncollectibleAccountsExpense,AllowanceforDoubtfulAccounts,()AllowanceforDoubtfulAccountsAccountsReceivableFlakeCo()AccountsReceivableFlakeCoAllowanceforDoubtfulAccountsCashAccountsReceivableFlakeCo()CashAllowanceforDoubtfulAccountsAccountsReceivableDoeCo(b)$,($,$,)(c)()UncollectibleAccountsExpenseAccountsReceivableFlakeCo()AccountsReceivableFlakeCoUncollectibleAccountsExpenseCashAccountsReceivableFlakeCo()CashUncollectibleAccountsExpenseAccountsReceivableDoeCoThebeginninginventoryandpurchasesofanitemfortheperiodwereasfollows:Beginninginventoryunitsat$eachFirstpurchaseunitsat$eachSecondpurchaseunitsat$eachThirdpurchaseunitsat$eachThecompanyusestheperiodicsystem,andtherewereunitsintheinventoryattheendoftheperiodDeterminethecostoftheunitsintheinventorybyeachofthefollowingmethods,presentingdetailsofyourcomputations:(a)firstin,firstout(b)lastin,firstout(c)averagecostANS:(a)units$$units$Total$,======(b)units$$units$Total$,======(c)Averageunitcost=$$,units$=$,=========Thefollowingdataregardingpurchasesandsalesofacommodityweretakenfromtherelatedperpetualinventoryaccount:MayBalanceunitsat$SaleunitsPurchaseunitsat$SaleunitsPurchaseunitsat$SaleunitsPurchaseunitsat$(a)DeterminethecostoftheinventorybalanceatMay,using()thefirstin,firstoutmethodand()thelastin,firstoutmethodIdentifythequantity,unitprice,andtotalcostofeachlotintheinventory(b)Presentthejournalentrytorecordashortage(shrinkage)of$discoveredbythephysicalcountonMayANS:(a)()Mayunitsat$$unitsat$Total$,======()Mayunitsat$$unitsat$unitsat$Total$,======(b)InventoryShrinkage(orCostofMerchandiseSold)MerchandiseInventoryChapterInvestments,PlantAssetsandIntangiblesAssets投资、固定资产与无形资产PresententriestorecordthefollowingselectedtransactionsofBeltonCo(a)Purchasedsharesofthe,sharesoutstanding$parcommonsharesofDenverCorporationfor$,,asinvestmentinavailableforsalesecurities(b)Purchased,sharesofthe,sharesnoparcommonsharesofReillyCofor$,Theinvestmentwasaccountedforbytheequitymethod(c)Receivedacashdividendof$pershareontheDenverCorporationstockacquiredin(a)(d)Receivedacashdividendof$pershareontheReillyCostockacquiredin(b)(e)SoldsharesoftheDenverCorporationsharesacquiredin(a)for$,(f)RecordedtheappropriateshareofReilly'sConetincomeof$,Thestockwasacquiredin(b)ANS:(a)Availableforsalesecurities,Cash,(b)InvestmentinReillyCoStock,Cash,(c)CashDividendRevenue(d)Cash,InvestmentinReillyCoStock,(e)Cash,Availableforsalesecurities,GainonSaleofAvailableforsalesecurities,(f)InvestmentinReillyCoStock,IncomeofReillyCo,PreparethejournalentriesforthefollowingtransactionsforMillerCo(a)MillerCopurchased,sharesofthetotalof,sharesofBudCorpstockfor$pershareplusa$commission(b)BudCorp'stotalearningsfortheperiodare$,(c)BudCorppaidatotalof$,incashdividendsANS:(a)InvestmentinBudCorpStock,Cash,(b)InvestmentinBudCorpStock,IncomeofBudCorp,(c)Cash,InvestmentinBudCorpStock,Equipmentpurchasedatthebeginningofthefiscalyearfor$,isexpectedtohaveausefullifeofyears,or,operatinghours,andaresidualvalueof$,Computethedepreciationforthefirstandsecondyearsofusebyeachofthefollowingmethods:(a)straightline(b)unitsofproduction(,hoursfirstyear,hourssecondyear)(c)decliningbalanceattwicethestraightlinerate(Roundtheanswertothenearestdollar)ANS:stYear(a)$,($,,)=,(b)$,($,,)=($,,hours)=$hrx,(c)$,($,x)ndYear(a)$,($,,)=,(b)$,($,,)=($,,hours)=$hrx,(c)$,($,,)=,xMachineryispurchasedonJulyofthecurrentfiscalyearfor$,Itisexpectedtohaveausefullifeofyears,or,operatinghours,andaresidualvalueof$,ComputethedepreciationforthelastsixmonthsofthecurrentfiscalyearendingDecemberbyeachofthefollowingmethods:(a)straightline(b)decliningbalanceattwicethestraightlinerate(c)unitsofproduction(usedfor,hoursduringthecurrentyear)(Roundtheanswertothenearestdollar)ANS:(a)$,=($,(b)(c)$,=($,,hoursComputerequipment(officeequipment)purchasedyearsagofor$,,withanestimatedlifeofyearsandaresidualvalueof$,,isnowsoldfor$,cash(Appropriateentriesfordepreciationhadbeenmadeforthefirstsixyearsofuse)Journalizethefollowingentries:(a)Recordthedepreciationfortheonehalfyearpriortothesale,usingthestraightlinemethod(b)Recordthesaleoftheequipment(c)Assumingthattheequipmenthadbeensoldfor$,cash,preparetheentryfor(b)abovetorecordthesaleANS:(a)DepreciationExpenseOfficeEquipment,AccumulatedDepreciationOffice,Equipment(b)Cash,AccumulatedDepreciationOfficeEquipment,OfficeEquipment,GainonSaleofFixedAssets,(c)Cash,AccumulatedDepreciationOfficeEquipment,LossonDisposalofFixedAssets,OfficeEquipment,Preparethefollowingjournalentriesandcalculations:(a)Apatentthatwasacquiredfor$,atthebeginningofthecurrentyearexpiresinyearsandisexpectedtohavevalueforyearsPresenttheadjustingentrytoamortizethepatentforthecurrentyear(b)Mineralrightsonanoredepositestimatedat,,tonsoforewereacquiredfor$,,Presenttheadjustingentrytorecorddepletionforthecurrentyear,duringwhich,tonsoforewereremoved(c)Legalcostsincurredtodefendtherightsthatapatentprovidedwere$,AtthetimethepatenthadbeeninexistenceforyearsDeterminetheamounttobeamortizedforthecurrentfiscalyearANS:(a)AmortizationExpensePatents,Patents,($,)(b)DepletionExpense,AccumulatedDepletion,(,$)(c)$,($,)ChapterLiabilities负债JournalizethefollowingentriesonthebooksoftheborrowerandcreditorLabelaccordinglyJunRobertsCopurchasedmerchandiseonaccountfromWrightCo,$,,termsnJunRobertsCoissuedaday,notefor$,onaccountAugRobertsCopaidtheamountdueANS:RobertsCo(Borrower)JuneMerchandiseInventory,AccountsPayable,AccountsPayable,NotesPayable,AugNotesPayable,InterestExpenseCash,WrightCo(Creditor)JuneAccountsReceivable,Sales,NotesReceivable,AccountsReceivable,AugCash,NotesReceivable,InterestRevenueArthurCorpissued$,,ofyear,callablebondsonJuly,,withinterestpayableonJuneandDecemberThefiscalyearofthecompanyisthecalendaryearJournalizetheentriestorecordthefollowingselectedtransactions:JulyIssuedthebondsforcashattheirfaceamountDecPaidtheinterestonthebondsDecCalledthebondissueat,therateprovidedinthebondindenture(Omitentryforpaymentofinterest)ANS:JulyCash,,BondsPayable,,DecInterestExpense,Cash,DecBondsPayable,,GainonRedemptionofBonds,Cash,,Presententriestorecordtheselectedtransactionsdescribedbelow:(a)Issued$,,ofyear,bondsat(b)Amortizedbonddiscountforafullyear,usingthestraightlinemethod(c)CalledbondsatThebondswerecarriedat$,,atthetimeoftheredemptionANS:(a)Cash,,DiscountonBondsPayable,BondsPayable,,(b)InterestExpense,DiscountonBondsPayable,(c)BondsPayable,,LossonRedemptionofBonds,DiscountonBondsPayable,Cash,,OnJune,,AthensCompanyissued$,,ofyear,bonds,datedJune,for$,,ThebondswerepurchasedbyPalermoCoontheissuedateattheissuepricePresententriestorecordthefollowingtransactions:(a)AthensCompany()Issuanceofbonds()PaymentoffirstsemiannualinterestonDecember,()AmortizationbystraightlinemethodofbondpremiumonDecember,(b)PalermoCompany()Purchaseofbonds()ReceiptoffirstsemiannualinterestamountonDecember,()AmortizationbystraightlinemethodofbondpremiumonDecember,ANS:(a)()Cash,,PremiumonBondsPayable,BondsPayable,,()InterestExpense,Cash,()PremiumonBondsPayable,InterestExpense,(b)()InvestmentinAthensCoBonds,,Cash,,()Cash,InterestRevenue,()InterestRevenue,InvestmentinAthensCoBonds,AceCompanypurchasedasalongterminvestment$,ofBlueCorporationyear,bondsPresententriestorecordthefollowingselectedtransactions:(a)Purchasedbondsfor$,(b)Amortized$,ofdiscountonbondsfortheyear(c)Soldbondsatplusaccruedinterestof$,Thebrokerdeducted$forbrokeragefeesandtaxes,remittingthebalanceThebondswerecarriedat$,atthetimeofthesaleANS:(a)InvestmentinBlueCorporationBonds,Cash,(b)InvestmentinBlueCorporationBonds,InterestRevenue,(c)Cash,InterestRevenue,InvestmentinBlueCorpBonds,GainonSaleofInvestmentsJournalizetheentriestorecordthefollowingselectedtransactionsofOwensCo:(a)Purchased$,ofKellyCobondsatplusaccruedinterestof$,(b)Receivedfirstsemiannualinterestpayment(c)Amortized$onthebondinvestmentattheendofthefirstyear(d)Soldthebondsatplusaccruedinterestof$,Thebondswerecarriedat$,atthetimeofthesaleANS:(a)InvestmentinKellyCoBonds,InterestRevenue,Cash,(b)Cash,InterestRevenue,(c)InterestRevenueInvestmentinKellyCoBonds(d)Cash,LossonSaleofInvestments,InvestmentinKellyCoBonds,InterestRevenue,ChapterOwners’Equity所有者权益OnApril,,sharesof$parcommonstockwereissuedat$,andonApril,,sharesof$parpreferredstockwereissuedat$JournalizetheentriesforAprilandANS:AprCash,CommonStock,PaidInCapitalinExcessofParCommonStock,Cash,PreferredStock,PaidInCapitalinExcessofParPreferredStock,AcorporationwasorganizedonJanuaryofthecurrentyear,withanauthorizationof,sharesof$preferredstock,$par,and,sharesof$parcommonstockThefollowingselectedtransactionswerecompletedduringthefirstyearofoperations:JanIssued,sharesofcommonstockat$pershareforcashIssued,sharesofcommonstockatpartoanattorneyinpaymentoflegalfeesfororganizingthecorporationFebIssued,sharesofcommonstockinexchangeforland,buildings,andequipmentwithfairmarketpricesof$,$,,and$,respectivelyMarIssued,sharesofpreferredstockat$forcashANS:JanCash,CommonStock,PaidInCapitalinExcessofParCommonStock,OrganizationalExpense,CommonStock,FebLand,Buildings,Equipment,CommonStock,PaidInCapitalinExcessofParCommonStock,MarCash,PreferredStock,PaidInCapitalinExcessofParPreferredStock,Presententriestorecordthefollowing:(a)Issued,sharesof$parcommonstockat$forcash(b)Issued,sharesofcommonstockinexchangeforequipmentwithafairmarketpriceof$,(c)Purchasedsharesoftreasurystockat$(d)Soldsharesoftreasurystockat$ANS:(a)Cash,CommonStock,PaidInCapitalinExcessofParCommonStock,(b)Equipment,CommonStock,(c)TreasuryStock,Cash,(d)Cash,TreasuryStock,PaidInCapitalfromSaleofTreasuryStockAcompanyhas,sharesof$parcommonstockoutstandingPresententriestorecordthefollowing:(a)Purchased,sharesoftreasurystockat$Thetreasurystockisaccountedforbythecostmethod(b)Soldsharesoftreasurystockat$(c)Purchasedequipmentfor$,,paying$,incashandissuing,sharesofcommonstockfortheequipment(d)Soldsharesoftreasurystockat$ANS:(a)TreasuryStock,Cash,(b)Cash,PaidInCapitalfromSaleofTreasuryStock,TreasuryStock,(c)Equipment,Cash,CommonStock,PaidInCapitalinExcessofParCommonStock,(d)Cash,PaidInCapitalfromSale,ofTreasuryStockTreasuryStock,Journalizethefollowingselectedtransactionscompletedduringthecurrentfiscalyear:JanTheboardofdirectorsreducedtheparofcommonsharesfrom$to$Thisactionincreasedthenumberofoutstandingsharesto,Declaredadividendof$pershareontheoutstandingsharesofcommonstockFebPaidthedividenddeclaredonJanuarySepDeclaredastockdividendonthecommonstockoutstanding(thefairmarketvalueofthestocktobeissuedis$)OctIssuedthecertificatesforthecommonstockdividenddeclaredonSeptemberANS:JanNoentryrequiredCashDividends,CashDividendsPayable,FebCashDividendsPayable,Cash,SepStockDividends,StockDividendsDistributable,PaidInCapitalinExcessofParCommonStock,OctStockDividendsDistributable,CommonStock,Presententriestorecordthefollowingselectedtransactionscompletedduringthecurrentfiscalyear:FebTheboardofdirectorsreducedtheparofcommonsharesfrom$to$Thisactionincreasedthenumberofoutstandingsharesto,Purchased,sharesofownstockat$,recordingthetreasurystockatcostMayDeclaredadividendof$pershareontheoutstandingsharesofcommonstockPaidthedividenddeclaredonMayOctDeclaredastockdividendonthecommonstockoutstanding(thefairmarketvalueofthestocktobeissuedis$)NovIssuedthecertificatesforthecommonstockdividenddeclaredonOctoberANS:FebNoentryrequiredTreasuryStock,,Cash,,MayCashDividends,,CashDividendsPayable,,CashDividendsPayable,,Cash,,OctStockDividends,StockDividendsDistributable,PaidInCapitalinExcessofParCommonStock,NovStockDividendsDistributable,CommonStock,ChapterPerformance经营成果Merchandisewithalistpriceof$,andcosting$,issoldonaccount,subjecttothefollowingterms:FOBdestination,,nThesellerprepaysthetransportationcostsof$(debitTransportationOutforthetransportationcosts)Priortopaymentforthegoods,thesellerissuesacreditmemorandumfor$tothecustomerformerchandisecosting$thatisreturnedThecorrectamountisreceivedwithinthediscountperiodRecordtheforegoingtransactionsofthesellerinthesequenceindicatedbelow(a)Soldthemerchandise,recognizingthesaleandcostofmerchandisesold(b)Paidthetransportationcharges(c)Issuedthecreditmemorandum(d)ReceivedpaymentfromthecustomerANS:(a)AccountsReceivable,Sales,CostofMerchandiseSold,MerchandiseInventory,(b)TransportationOutCash(c)SalesReturnsandAllowancesAccountsReceivableMerchandiseInventoryCostofMerchandiseSold(d)Cash,SalesDiscountsAccountsReceivable,DIF:OBJ:Basedontheinformationbelow,journalizetheentriesfortheSellerandtheBuyerBothuseaperpetualinventorysystem(a)SellersellsBuyeronaccountmerchandisecosting$for$,terms,net,FOBdestinationThetransportationchargeis$(b)Buyerreturnsasdefective$worthofthe$merchandisereceivedTheseller'scostis$(c)BuyerpayswithinthediscountperiodANS:(a)SellerBuyerAccountsReceivableMerchandiseInventorySalesAccountsPayableCostofMerchandiseSoldNAMerchandiseInventoryTransportationOutNACash(b)SalesReturnsAccountsPayableAllowAccountsMerchandiseReceivableInventoryMerchandiseInventoryCostofMerchandiseSold(c)CashAccountsPayableSalesMerchandiseDiscountsInventoryAccountsCashReceivableJournalizetheentriestorecordthefollowingselectedtransactions:(a)Sold$ofmerchandiseonaccount,subjecttosalestaxThecostofthemerchandisesoldwas$(b)Paid$tothestatesalestaxdepartmentfortaxescollectedANS:(a)AccountsReceivableSalesSalesTaxPayableCostofMerchandiseSoldMerchandiseInventory(b)SalesTaxPayableCas
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