Accounting Principle學(xué)習(xí)通超星課后章節(jié)答案期末考試題庫(kù)2023年

AccountingPrinciple學(xué)習(xí)通超星課后章節(jié)答案期末考試題庫(kù)2023年A$130credittoSupplieswascreditedtoFeesEarnedbymistake.Bywhatamountsaretheaccountsunder-oroverstatedasaresultofthiserror?

參考答案:

Supplies,overstated$130;FeesEarned,overstated$130.

Abenefitofusinganaccelerateddepreciationmethodisthat:

參考答案:

Ityieldslargerdepreciationexpenseintheearlyyearsofanasset'slife.

Acompanywasrecentlyformedwith$50,000cashinvestedbytheowner.Thecompanythenborrowed$20,000from

abank,andbought$10,000ofsuppliesonaccount.The

companyalsopurchased$50,000ofequipmentbypaying$20,000incashandsigninganotefortheremainder.Whatis

theamountoftotalassetstobereportedonthebalancesheet?

參考答案:

$110,000

?Acorporationis:

參考答案:

Abusinesslegallyseparatefromitsowners.

Alimitedpartnership:

參考答案:

Includesageneralpartnerwithunlimitedliability

Amachineoriginallyhadanestimatedusefullifeof6years,butafter4completeyears,itwasdecidedthattheoriginalestimateofusefullifeshouldhavebeen10years.Atthatpointtheremainingcosttobedepreciatedshouldbeallocatedovertheremaining:

參考答案:

6years.

Accountingisaninformationandmeasurementsystemthatidentifies,records,andcommunicatesrelevant,reliable,andcomparableinformationaboutanorganization'sbusinessactivities.

參考答案:

對(duì)

Anaccountinginformationsystemcommunicatesdatatohelpusersmakebetterdecisions.

參考答案:

對(duì)

Anadjustedtrialbalance

參考答案:

Showstheendingbalancesresultingfromtheadjusting

journalentriesina“debit”and“credit”format.

Anadjustingjournalentrytorecognizeaccruedsalaries

payablewouldcausewhichofthefollowing?

參考答案:

Anincreaseinexpensesandliabilitiesandadecrease

inowner’sequity.

Assetsaretheresourcesacompanyownsorcontrolsthatareexpectedtoyieldfuturebenefits.

參考答案:

對(duì)

AtDecember31,2014,thebusinessshouldrecord

參考答案:

interestpayableof$900

Atyear-end,atrialbalanceshowedtotalcreditsexceedtotaldebitsby$4,950.Thisdifferencecouldhavebeencausedby:

參考答案:

Thebalanceof$5,500intheOfficeEquipmentaccountbeingenteredonthetrialbalanceasadebitof$550.

Bookkeepingistherecordingoftransactionsandeventsandisonlypartofaccounting.

參考答案:

對(duì)

Financialaccountingistheareaofaccountingthatprovidesinternalreportstoassistthedecisionmakingneedsofinternalusers.

參考答案:

錯(cuò)

Financialstatementanalysismaybeusedforpersonalfinancialinvestmentdecisions.

參考答案:

對(duì)

Howwillamanager’sdecisiontorecordapaymentasan

assetratherthanasanexpenseaffectnetincomeforthe

businessinthecurrentperiod?

參考答案:

Netincomewillbehigher.

Identifytheitembelowthatwouldcausethetrialbalancetonotbalance?

參考答案:

Thecashpaymentofa$750accountpayablewaspostedasadebittoAccountsPayableandadebittoCashfor$750.

Ifa10percentnotereceivablefor$10,000iscreatedon

January1,2006,andithasamaturitydateofDecember31,

2010,

參考答案:

Interestrevenueof$1,000willberecordedin2006.

Ifa12percentnotereceivablefor$20,000iscreatedon

December1,2009,andinterestandprincipalaredueon

November30,2010,whatamountofinterestrevenuewould

bereportedfortheyearendedDecember31,2009?

參考答案:

$200.

Ifacompanyreceives$12,000fromtheownertoestablishaproprietorship,theeffectontheaccountingequationwouldbe:

參考答案:

Assetsincrease$12,000andequityincreases$12,000

Ifacompanyuses$1,300ofitscashtopurchasesupplies,theeffectontheaccountingequationwouldbe:

參考答案:

Oneassetincreases$1,300andanotherassetdecreases$1,300,causingnoeffect

Ifamachineisdamagedduringunpacking,therepairsareaddedtoitscost.

參考答案:

錯(cuò)

Liabilitiesaretheowner'sclaimonassets.

參考答案:

錯(cuò)

Naturalresourcesareassetsthatincludestandingtimber,mineraldeposits,andoilandgasfields.

參考答案:

對(duì)

NetIncome:

參考答案:

?Istheexcessofrevenuesoverexpenses.

Onatrialbalance,iftheDebitandCreditcolumntotalsareequal,then:

參考答案:

Equaldebitsandcreditshavebeenrecordedfortransactions.

OnMay31ofthecurrentyear,theassetsandliabilitiesofRiser,Inc.areasfollows:Cash$20,500;

AccountsReceivable,$7,250;

Supplies,$650;

Equipment,$12,000;

AccountsPayable,$9,300.Whatistheamountofowner'sequityasofMay31ofthecurrentyear?

參考答案:

$31,100

Ownerwithdrawalsareexpenses.

參考答案:

錯(cuò)

Plantassetsrefertononphysicalassetsthatareusedintheoperationsofabusiness.

參考答案:

錯(cuò)

SaharaCompany’sCashaccountshowsanendingbalanceof$650.Thebankstatementshowsa$29servicechargeandanNSFcheckfor$150.A$240depositisintransit,andoutstandingcheckstotal$420.WhatisSahara’sadjustedcashbalance?

參考答案:

$471

Salvagevalueisanestimateofanasset'svalueattheendofitsbenefitperiod.

參考答案:

對(duì)

Separationofdutiesisimportantforinternalcontrolof

參考答案:

Bothaandb

Theaccountingconceptthatrequireseverybusinesstobeaccountedforseparatelyfromotherbusinessentities,includingitsownerorownersisknownasthe:

參考答案:

Businessentityassumption

Theaccountingequationimpliesthat:Assets+Liabilities=Equity.

參考答案:

錯(cuò)

thebank’sfiguresiscalleda(n)

參考答案:

bankreconciliation

Thecreditpurchaseofanewovenfor$4,700waspostedtoKitchenEquipmentasa$4,700debitandtoAccountsPayableasa$4,700debit.Whateffectwouldthiserrorhaveonthetrialbalance?

參考答案:

ThetotaloftheDebitcolumnofthetrialbalancewillexceedthetotaloftheCreditcolumnby$9,400.

Thedualeffectsconceptcanbestbedescribedasfollows:

參考答案:

Whenatransactionisrecordedintheaccounting

system,atleasttwoeffectsonthebasicaccounting

equationwillresult.

Thefourbasicfinancialstatementsincludethebalancesheet,incomestatement,statementofowner'sequity,andstatementofcashflows.

參考答案:

對(duì)

Theindependentgroupthatisattemptingtoharmonizeaccountingpracticesofdifferentcountriesisthe:

參考答案:

IASB.

Theprimaryobjectiveofmanagerialaccountingistoprovidegeneralpurposefinancialstatementstohelpexternalusersanalyzeandinterpretanorganization'sactivities.

參考答案:

錯(cuò)

Theprocessofallocatingthecostofaplantassettoexpenseintheaccountingperiodsbenefitingfromitsuseiscalleddepletion.

參考答案:

錯(cuò)

ThequestionofwhenrevenueshouldberecognizedontheincomestatementaccordingtoGAAPisaddressedbythe:

參考答案:

Revenuerecognitionprinciple.

Therelevantfactorsincomputingdepreciationdonotinclude:

參考答案:

Marketvalue.

Whatis/arethepurpose(s)ofthetrialbalance?

參考答案:

Tocheckthatdebitsequalcredits.

Whenexpensesexceedrevenuesinagivenperiod

(andtherearenogainsorlosses),

參考答案:

Owner’sequitywillbedecreased.

Whichaccountisleastlikelytobedebitedwhenrevenue

isrecorded?

參考答案:

AccountsPayable

Whichofthefollowingaccountingprinciplesprescribesthatacompanyrecorditsexpensesincurredtogeneratetherevenuereported?

參考答案:

?Matchingprinciple.

Whichofthefollowingaccountsnormallyhasadebit

balance?

參考答案:

RentExpense.

Whichofthefollowingaccountswould

notappearinaclosingjournalentry?

參考答案:

AccumulatedDepreciation.

Whichofthefollowingisaliability?

參考答案:

Wagespayable

Whichofthefollowingisfalseregardingthebalancesheet?

參考答案:

Thebalancesheetsummarizesthe