会计学原理（英）智慧树知到期末考试答案章节答案2024年宁波大学

会计学原理（英）智慧树知到期末考试答案+章节答案2024年宁波大学Acompanypurchasesaremotesitebuildingforcomputeroperations.Thebuildingwillbesuitableforoperationsaftersomeexpenditures.Thewiringmustbereplacedtocomputerspecifications.Theroofisleakyandmustbereplaced.Allroomsmustberepaintedandrecarpetedandtherewillalsobesomeplumbingworkdone.Whichofthefollowingstatementsistrue?（）

答案:Thecostofthebuildingwillincludethecostofreplacingtheroof.Abusinesscompilingitsfinancialstatementsfortheyearto31Julyeachyearpaysrentquarterlyinadvanceon1January,1April,1Julyand1Octobereachyear.Theannualrentwasincreasedfrom$60,000peryearto$72,000peryearasfrom1October20X3.Whatamountshouldappearforrentexpenseinthebusines’sstatementofprofitorlossfortheyearended31July20X4?（）

答案:$70,000IFRSallowscompaniestorevalueplantassetstofairvalue.Whichofthefollowingstatementsistrueregardingrevaluation?（）

答案:Thejournalentrytorecordarevaluationwhentheasset’sfairvaluehasincreasedincludesacredittotheaccountrevaluationsurplus.Allofthefollowingareintangibleassetsexcept（）

答案:researchanddevelopmentcosts.Acompanypurchased$1,800ofmerchandiseonJuly5withterms2/10,n/30.OnJuly7,itreturned$200worthofmerchandise.OnJuly8,itpaidthefullamountdue.TheamountofthecashpaidonJuly8equals:（）

答案:$1,568.Acompanyusedstraight-linedepreciationforanitemofequipmentthatcost$12,000,hadasalvagevalueof$2,000andafive-yearusefullife.Afterdepreciatingtheassetforthreecompleteyears,thesalvagevaluewasreducedto$1,200butitstotalusefulliferemainedthesame.Determinetheamountofdepreciationtobechargedagainsttheequipmentduringeachoftheremainingyearsofitsusefullife:（）

答案:$2,400Thecostofanintangibleassetissystematicallyallocatedtodepreciationexpenseoveritsestimatedusefullife.（）

答案:FalseDiggerCopurchasedanasseton1January20X3atacostof$1,000,000.Itisdepreciatedover50yearsbythestraightlinemethod(nilresidualvalue),withaproportionratechargefordepreciationintheyearofacquisitionandtheyearofdisposal.At31December20X4theassetwasrevaluedto$1,200,000.Therewasnochangeintheexpectedusefullifeoftheasset.Theassetwassoldon30June20X5for$1,195,000.WhatprofitorlossondisposaloftheassetwillbereportedinthestatementofprofitorlossofDiggerCofortheyearended31December20X5?（）

答案:Profitof$7,500Tradereceivablesandpayablesinthefinancialstatementsofasalestaxregisteredtraderwillappearasdescribedbywhichofthefollowing?（）

答案:InclusiveofsalestaxinthestatementoffinancialpositionUnearnedrevenuesareclassifiedasliabilities.（）

答案:TrueThefraudtriangleassertsthatthethreefactorsthatmustexistforapersontocommitfraudareopportunity,pressure,andrationalization.（）

答案:TrueWhichofthefollowingstatementsaboutIAS2Inventoriesiscorrect?（）

答案:Productionoverheadsshouldbeincludedincostonthebasisofacompany’snormallevelofactivityintheperiod.Abusinesscompilingitsfinancialstatementsfortheyearto31Januarypaysrentquarterinadvanceon1January,1April,1Julyand1Octobereachyear.Afterremainingunchangedforsomeyears,therentwasincreasedfrom$24,000peryearto$30,000peryearasfrom1July20X0.Whichofthefollowingfiguresistherentexpensewhichshouldappearinthestatementprofitorlossforyearended31January20X1?（）

答案:$27,500Depreciationdoesnotmeasurethedeclineinmarketvalueofanasseteachperiod.（）

答案:TrueTheexpenserecognition(matching)principlerequiresuseoftheallowancemethodofaccountingforbaddebts.（）

答案:TrueCurrentliabilitiesareexpectedtobepaidwithinoneyearortheoperatingcycle,whicheverislonger.（）

答案:TrueGusnaCopurchasedabuildingon31December20X1for$750,000.Atthedateofacquisition,theusefullifeofthebuildingwasestimatedtobe25yearsanddepreciationiscalculatedusingthestraightlinemethod.At31December20X6,anindependentvaluervaluedthebuildingat$1,000,000andtherevaluationwasrecognisedinthefinancialstatements.Gusna’saccountingpoliciesstatethatexcessdepreciationarisingonrevaluationofnon-currentassetscanbetransferredfromtherevaluationsurplustoretainedearnings.Whatisthedepreciationchargeonthebuildingfortheyearended31December20X7?（）

答案:$50,000Whetherpurchasecostsarerisingorfalling,FIFOalwayswillyieldthehighestgrossprofitandnetincome.（）

答案:FalseAllofthefollowingfactorsincomputingdepreciationareestimatesexcept（）

答案:cost.Closingentriesaredesignedtotransfertheend-of-periodbalancesintherevenueaccounts,theexpenseaccounts,andthewithdrawalsaccounttoowner'scapital.（）

答案:TrueInformationrelatingtoJwan’stransactionsforthemonthofMay20X4isshownbelow:Sales(includingsalestax)$140000Purchases(netofsalestax)$65000JwanCo’salesforthemonthof$140,000included$20,000ofsalesexemptfromsalestax.Salestaxischargedataflatrateof20%.JwanCo’ssalestaxaccounthadazerobalanceatthebeginningofthemonthandattheendofthemonth.WhatwasthetotalsalestaxpaidtoregulatoryauthoritiesattheendofMay20X4(tothenearest$)?（）

答案:$7,000IncomeSummaryisatemporaryaccountonlyusedfortheclosingprocess.（）

答案:TrueTheInventoryaccountisacontrollingaccountfortheinventorysubsidiaryledgerthatcontainsaseparaterecordforeachseparateproduct.（）

答案:TrueUncertaintiesfromthedevelopmentofnewcompetingproductsarenotcontingentliabilities.（）

答案:TrueIfobsoleteordamagedgoodscanbesold,theywillbeincludedininventoryattheiroriginalcost.（）

答案:FalseJuniperCompanyusesaperpetualinventorysystemandthegrossmethodofaccountingforpurchases.Thecompanypurchased$9,750ofmerchandiseonAugust7withterms1/10,n/30.OnAugust11,itreturned$1,500worthofmerchandise.OnAugust16,itpaidthefullamountdue.ThecorrectjournalentrytorecordthepaymentonAugust16is:（）

答案:DebitAccountsPayable$8,250;creditMerchandiseInventory$82.50;creditCash$8,167.50Thecreditterms2/10,n/30areinterpretedas:（）

答案:2%cashdiscountiftheamountispaidwithin10days,orthebalanceduein30days.Acompanypurchased$4,000worthofmerchandise.Transportationcostswereanadditional$350.Thecompanyreturned$275worthofmerchandiseandthenpaidtheinvoicewithinthe2%cashdiscountperiod.Thetotalcostofthismerchandiseis:（）

答案:$4,000.50Acompanypurchased$1,800ofmerchandiseonJuly5withterms2/10,n/30.OnJuly7,itreturned$200worthofmerchandise.OnJuly28,itpaidthefullamountdue.Assumingthecompanyusesaperpetualinventorysystem,andrecordspurchasesusingthegrossmethod,thecorrectjournalentrytorecordthemerchandisereturnonJuly7is:（）

答案:DebitAccountsPayable200;creditMerchandiseInventory$200FragmentCompanyisawholesalerthatsellsmerchandiseinlargequantities.Itscatalogindicatesalistpriceof$300perunitonaparticularproductanda40%tradediscountisofferedforquantitypurchasesof50unitsormore.Thecostofshippingthemerchandiseis$7perunitundertermsFOBshippingpoint.Ifacustomerpurchases100unitsofthisproduct,whatistheamountofsalesrevenuethatFragmentwillrecordfromthissale?（）

答案:$18,000TheF.Mercury,Capitalaccounthasacreditbalanceof$37,000beforeclosingentriesaremade.Totalrevenuesfortheperiodare$55,200,totalexpensesare$39,800,andwithdrawalsare$9,000.Whatisthecorrectclosingentryfortherevenueaccounts?（）

答案:DebitRevenueaccounts$55,200;creditIncomeSummary$55,200K.Canopy,theproprietorofCanopyServices,withdrew$5,700fromthebusinessduringthecurrentyear.Theentrytoclosethewithdrawalsaccountattheendoftheyearis:（）

答案:DebitKCanopy,Capital$5,700;creditKCanopy,Withdrawals$5,700Atthebeginningoftheyear,acompany'sbalancesheetreportedthefollowingbalances:TotalAssets=$225,000;TotalLiabilities=$125,000;andOwner'sCapital=$100,000.Duringtheyear,thecompanyreportedrevenuesof$46,000andexpensesof$30,000.Inaddition,owner'swithdrawalsfortheyeartotaled$20,000.Assumingnootherchangestoowner'scapital,thebalanceintheowner'scapitalaccountattheendoftheyearwouldbe:（）

答案:$96,000.Closingentriesarerequired:（）

答案:Ifthetemporaryaccountsaretoreflectcorrectamountsforeachaccountingperiod.TaraWestmont,theproprietorofTiptoeShoes,hadannualrevenuesof$185,000,expensesof$103,700,andwithdrew$18,000fromthebusinessduringthecurrentyear.Theowner'scapitalaccountbeforeclosinghadabalanceof$297,000.TheNetIncomefortheyearis:（）

答案:D.$81,300Thecorrectadjustingentryforaccruedandunpaidemployeesalariesof$9,000onDecember31is:（）

答案:debitSalaryExpense,$9,000;creditSalariesPayable,$9,000Incurredbutunpaidexpensesthatarerecordedduringtheadjustingprocesswithadebittoanexpenseandacredittoaliabilityare:（）

答案:Accruedexpenses.Underthecashbasisofaccounting,noadjustmentsaremadeforprepaid,unearned,andaccrueditems.（）

答案:对Acompanymadenoadjustingentryforaccruedandunpaidemployeewagesof$28,000onDecember31.Thisoversightwould:（）

答案:Overstatenetincomeby$28,000.Whileintheprocessofpostingfromthejournaltotheledger,acompanyfailedtoposta$500debittotheEquipmentaccount.Theeffectofthiserrorwillbethat:（）

答案:Thetrialbalancewillnotbalance.OnJanuary1ofthecurrentyear,Jimmy'sSandwichCompanyreportedowner'scapitaltotaling$122,500.Duringthecurrentyear,totalrevenueswere$96,000whiletotalexpenseswere$85,500.Also,duringthecurrentyearJimmywithdrew$20,000fromthecompany.Nootherchangesinequityoccurredduringtheyear.If,onDecember31ofthecurrentyear,totalassetsare$196,000,thechangeinowner'scapitalduringtheyearwas:（）

答案:Adecreaseof$9,500.Abusiness'ssourcedocuments:（）

答案:Provideobjectiveevidencethatatransactionhastakenplace.LarryBaropenedaframeshopandcompletedthesetransactions:（1）Larrystartedtheshopbyinvesting$40,000cashandequipmentvaluedat$18,000.（2）Purchased$70ofofficesuppliesoncredit.（3）Paid$1,200cashforthereceptionist'ssalary.（4）Soldacustomframeserviceandcollected$1,500cashonthesale.（5）Completedframingservicesandbilledtheclient$200.Whatwasthebalanceofthecashaccountafterthesetransactionswereposted?（）

答案:$40,300.Identifytheaccountbelowthatisclassifiedasanassetaccount:（）

答案:SuppliesTheeconomicentityassumptionrequiresthattheactivities（）

答案:ofanentitybekeptseparatefromtheactivitiesofitsowner.BumiCorporationpurchasedaninvestmentintheordinarysharesofanothercorporationforRp250,000,000in2018.ThesharesareactivelytradedontheIndonesianStockExchange.ThefairvalueoftheinvestmentatDecember31,2020isRp268,000,000.Ifthecompanyfollowsthefairvalueprinciple,theinvestmentwillbereportedinthe2020financialstatementat（）

答案:Rp268,000,000onthestatementoffinancialposition.Thebasicaccountingequationmaybeexpressedas（）

答案:Alloftheseanswerchoicesarecorrect.OnJune6,WingWahInc.purchasedsuppliesonaccountforHK$80,000.OnJune30,thecompanypaidhalfofthebalancedue.TheJune30paymentwill（）

答案:decreaseCashanddecreaseAccountsPayablebyHK$40,000.Thepurchaseofstoreequipmentforcashreducestheequitybyanequalamount.（）

答案:错Thedifferencebetweenthecostofadepreciableassetanditsrelatedaccumulateddepreciationisreferredtoasthe（）

答案:bookvalueoftheasset.Ifacompanyrecordsprepaymentofexpensesinanassetaccount,theadjustingentrywhenallorpartoftheprepaidassetisusedorexpiredwould:（）

答案:Resultinadebittoanexpenseandacredittoanassetaccount.NiagaraCorporationpurchasedaone-yearinsurancepolicyinJanuary2019for€24,000.TheinsurancepolicyisineffectfromMarch2019throughFebruary2020.Ifthecompanyneglectstomaketheproperyear-endadjustmentfortheexpiredinsurance（）

答案:Netincomeandassetswillbeoverstatedby€20,000.Theinventoryvaluationmethodthattendstosmoothouterraticchangesincostsis:（）

答案:SpecificidentificationThestatementthat"Bondpricesvaryinverselywithchangesinthemarketinterestrate"meansthatifthe（）

答案:contractualinterestrateincreases,thenbondpriceswillgodown.Underthecashbasisofaccounting,noadjustmentsaremadeforprepaid,unearned,andaccrueditems.（）

答案:TruePurchaseallowancesrefertomerchandiseabuyeracquiresbutthenreturnstotheseller.（）

答案:FalseThecashbasisofaccountingcommonlyincreasesthecomparabilityoffinancialstatementsfromperiodtoperiod.（）

答案:FalseCostofgoodssoldisanexpense,andisreportedontheincomestatement.（）

答案:TrueOnJanuary1,2020,MiltonCompanypurchasedatfacevalue,a€1,000,8%bondthatpaysinteresteachJanuary1.MiltonCompanyhasacalendaryear-end.TheadjustingentryonDecember31,2020,is（）

答案:InterestReceivable80DebtInvestments80Whichaccountingconceptstatesthatomittingormissingthisinformationcouldinfluenceusersofthefinancialstatements?（）

答案:thematerialityconceptAmanufacturerincursthefollowingcosts:$38,000developingnewtechniquesthatwillbeputinplaceshortlytocutproductioncosts;$27,000researchinganewprocesstoimprovethequalityofthestandardproductand$8,000onmarketresearchingtothecommercialviabilityofanewtypeofproduct.ItiscompanypolicytocapitalisecostswheneverpermittedbyIAS38IntangibleAssets.Howmuchshouldbechargedasresearchanddevelopmentexpenditureinprofitorloss?(ignoreamortisation)（）

答案:$35,000Closingentriesresultintheowner'scapitalaccountbeingtransferredintonetincomeornetlossfortheperiodending.（）

答案:FalseAperpetualinventorysystemisabletodirectlymeasureandmonitorinventoryshrinkageandthereisnoneedforaphysicalcountofinventory.（）

答案:FalseAsageneralrule,revenuesshouldnotberecognizedintheaccountingrecordswhenearned,butratherwhencashisreceived.（）

答案:FalseNetrealizablevaluefordamagedorobsoletegoodsissalespricelessthecostofmakingthesale.（）

答案:TrueIntheaccountingrecordsofadefendant,lawsuits:（）

答案:Shouldberecordedifpaymentfordamagesisprobableandtheamountcanbereasonablyestimated.Identifythestatementbelowthatiscorrect.（）

答案:Promisesoffuturepaymentbythecustomerarecalledaccountsreceivable.Thequalityofreceivablesrefersto:（）

答案:Thelikelihoodofcollectionwithoutloss.Twomainaccountingprinciplesusedinaccrualaccountingareexpenserecognitionandfullclosure.（）

答案:FalseAprovisionisaliabilityofuncertaintimingoramount.（）

答案:TrueThebalancesheetshowsacompany'snetincomeorlossduetoearningsactivitiesoveraperiodoftime.（）

答案:FalseGiventhefollowingerrors,identifytheonebyitselfthatwillcausethetrialbalancetobeoutofbalance.（）

答案:A$100cashreceiptfromacustomerinpaymentofheraccountpostedasa$100debittoCashanda$10credittoAccountsReceivable.YLtdkeepsareceivablesledgercontrolaccountaspartofitsaccountingsystem.ThefollowingtransactionstakeplaceinMarch:(1)Invoicestotaling$5,000areraisedtoCustomerXinMarch.TheseinvoicesoffertheCustomera5%discountiftheypaywithin14days.Oftheseinvoices,YLtdexpectsinvoicesamountingto$2,000tobepaidwiththediscounttaken.(2)CustomerZpayscashof$2,850forinvoiceswithfacevaluesof$3,000.Theytookadvantageofdiscountstotalling$150forearlypayment,howeverYLtdhadnotexpectedCustomerZtotakeupthediscounts.Whichofthefollowingentriescorrectlyrecordthesetransactions?（）

答案:DEBITreceivablesledgercontrol$4,900,CREDITsales$4,900,DEBITcash$2,850,DEBITsales$150,CREDITreceivablesledgercontrol$3,000Atagivenpointintime,abusiness'strialbalanceisalistofallofitsgeneralledgeraccountsandtheirbalances.（）

答案:TrueTheSarbanes-OxleyAct(SOX)requireseachissuerofsecuritiestodisclosewhetherithasadoptedacodeofethicsforitsseniorfinancialofficersandthecontentsofthatcode.（）

答案:TrueYangCompanypurchasedequipmentonJanuary1atalistpriceof¥750,000,withcreditterms2/10,n/30.PaymentwasmadewithinthediscountperiodandYangwasgivena¥15,000cashdiscount.Yangpaid¥37,500salestaxontheequipment,andpaidinstallationchargesof¥13,200.Priortoinstallation,Yangpaid¥30,000topouraconcreteslabonwhichtoplacetheequipment.Whatisthetotalcostofthenewequipment?（）

答案:¥815,700Acompanypurchased$1,800ofmerchandiseonJuly5withterms2/10,n/30.OnJuly7,itreturned$200worthofmerchandise.OnJuly28,itpaidthefullamountdue.TheamountofthecashpaidonJuly28equals:（）

答案:$1,800.TheInventoryaccountisusedineachofthefollowingexcepttheentrytorecord（）

答案:paymentoffreightongoodssold.BellinghamInc.tookaphysicalinventoryattheendoftheyearandcalculatedthat£1,750,000ofgoodswereonhand.Bellinghamdeterminedthat£25,000ofgoodswereintransit.Thegoodswereshippedf.o.b.shippingpointandwerereceivedbyBellinghamtwodaysaftertheinventorycount.Thecompanyalsohad£275,000ofgoodsoutonconsignment.WhatamountshouldBellinghamreportforinventoryonitsstatementoffinancialposition?（）

答案:£2,050,000.Abusinesspurchasedamotorcaron1July20X3for$20,000.Itistobedepreciatedat20%peryearonthestraightlinebasis,assumingaresidualvalueattheendoffiveyearsof$4,000,withaproportionatedepreciationchargeintheyearsofpurchaseanddisposal.The$20,000costwascorrectlyenteredinthecashbookbutpostedtothedebitofthemotorvehiclesrepairsaccount.Howwillthebusinessprofitfortheyearended31December20X3beaffectedbytheerror?（）

答案:Understatedby$18,400WileyHillopenedHill'sRepairsonMarch1ofthecurrentyear.DuringMarch,thefollowingtransactionsoccurredandwererecordedinthecompany'sbooks:Wileyinvested$25,000cashinthebusiness.Wileycontributed$100,000ofequipmenttothebusiness.Thecompanypaid$2,000cashtorentofficespaceforthemonthofMarch.Thecompanyreceived$16,000cashforrepairservicesprovidedduringMarch.Thecompanypaid$6,200forsalariesforthemonthofMarch.Thecompanyprovided$3,000ofservicestocustomersonaccount.Thecompanypaidcashof$500forutilitiesforthemonthofMarch.Thecompanyreceived$3,100cashinadvancefromacustomerforrepairservicestobeprovidedinApril.Wileywithdrew$5,000forhispersonalusefromthecompany.Basedonthisinformation,thebalanceinWileyHill,CapitalreportedontheStatementofOwner'sEquityattheendofMarchwouldbe:（）

答案:$130,300.Allofthefollowingaretrueregardingunearnedrevenuesexcept:（）

答案:Theadjustingentryforunearnedrevenuesincreasesassetsandincreasesrevenues.TheaccountingequationforYingCompanyshowsadecreaseinitsassetsandadecreaseinitsequity.Whichofthefollowingtransactionscouldhavecausedthateffect?（）

答案:AdvertisingexpenseforthemonthwaspaidincashOnDecember31ofthecurrentyear,PlunkettCompanyreportedanendinginventorybalanceof$215,000.Thefollowingadditionalinformationisalsoavailable:•Plunkettsoldandshippedgoodscosting$38,000toSavannahEnterprisesonDecember28withshippingtermsofFOBshippingpoint.Thegoodswerenotincludedintheendinginventoryamountof$215,000.•Plunkettpurchasedgoodscosting$44,000onDecember29.ThegoodswereshippedFOBdestinationandwerereceivedbyPlunkettonJanuary2ofthefollowingyear.TheshipmentwasarushorderthatwassupposedtoarrivebyDecember31.Thesegoodswereincludedintheendinginventorybalanceof$215,000.•Plunkett'sendinginventorybalanceof$215,000included$15,000ofgoodsbeingheldonconsignmentfromCaroleCompany.(PlunkettCompanyistheconsignee.)•Plunkett'sendinginventorybalanceof$215,000didnotincludegoodscosting$95,000thatwereshippedtoPlunkettonDecember27withshippingtermsofFOBdestinationandwerestillintransitatyear-end.Basedontheaboveinformation,theamountthatPlunkettshouldreportinendinginventoryonDecember31is:（）

答案:$156,000Anerrorhasoccurredintheclosingentryprocessif（）

答案:thestatementoffinancialpositionaccountshavezerobalances.If$2,000,000parvaluebondswithacarryingvalueof$1,990,400areredeemedat97,alossonredemptionwillberecorded.1122（）

答案:FalseIThefairvalueofacorporation'ssharesisdeterminedbythenumberofsharesthatthecorporationhasbeenauthorizedtoissue.（）

答案:FalseAnaccount'sbalanceisthedifferencebetweenthetotaldebitsandtotalcreditsfortheaccount,includinganybeginningbalance.（）

答案:TrueAtrade’sprofitfortheyearmaybecomputedbyusingwhichofthefollowingformulae?（）

答案:closingcapital+drawing-capitalintroduced-opencapitalIfallcolumnsofacompletedworksheetbalance,youcanbesurethatnoerrorsweremadeinitspreparation.（）

答案:FalseAcompanyhadabeginningbalanceinretainedearningsof$430,000.Ithadnetincomeof$60,000andpaidoutcashdividendsof$56,250inthecurrentperiod.Theendingbalanceinretainedearningsequals:（）

答案:$433,750.Acorporationsold14,000sharesofits$1parvaluecommonstockatacashpriceof$13pershare.Theentrytorecordthistransactionwouldinclude:（）

答案:AcredittoCommonStockfor$14,000.Allofthefollowingstatementsregardingstockdividendsaretrueexcept:（）

答案:Stockdividendsdecreasethenumberofsharesoutstanding.Acorporationissued6,000sharesofits$2parvaluecommonstockinexchangeforlandthathasamarketvalueof$84,000.Theentrytorecordthistransactionwouldinclude:（）

答案:AcredittoPaid-inCapitalinExcessofParValue,CommonStockfor$72,000.TheDiscountonCommonStockaccountreflects:（）

答案:Thedifferencebetweentheparvalueofstockanditsissuepricewhenitisissuedatapricebelowparvalue.Acompanypaid$37,800plusabroker'sfeeof$525toacquire8%bondswitha$40,000maturityvalueasalong-terminvestment.Thecompanyintendstoholdthebondstomaturity.Thecorrectentrytorecordthepurchaseofthebondinvestmentis:（）

答案:DebitLong-TermInvestments—HTM$38,325;creditCash$38,325StricklandCorporationhasinvestedin10%oftheoutstandingstockofNezCorporation.Stricklandintendstoactivelymanagethisinvestmentforprofit.Thisinvestmentisclassifiedas:（）

答案:atradingsecurity.J.P.Industriespurchased2,000sharesofYang'scommonstockfor$143,000asalong-terminvestment.Theinvestmentisclassifiedasavailable-for-salesecurities.Theparvalueofthestockwas$1pershare.J.P.paid$375incommissionsonthetransaction.J.P.'sentrytorecordthepurchasetransactionwouldincludea:（）

答案:DebittoLong-TermInvestments-AFSfor$143,375.Accountingforlong-terminvestmentsinequitysecuritieswithcontrollinginfluenceusesthe:（）

答案:Equitymethodwithconsolidation.Allofthefollowingstatementsregardingequitysecuritiesaretrueexcept:（）

答案:Equitysecuritiesarevaluedatfairvalueifclassifiedassignificantinfluencesecurities.Thecarryingvalueofbondsatmaturityalwaysequals:（）

答案:theparvalueofthebond.MorganCompanyissues9%,20-yearbondswithaparvalueof$750,000thatpayinterestsemiannually.Thecurrentmarketrateis8%.Theamountpaidtothebondholdersforeachsemiannualinterestpaymentis:（）

答案:$33,750.Amortizingabonddiscount:（）

答案:Allocatesaportionofthetotaldiscounttointerestexpenseeachinterestperiod.Abondholderthatownsa$1,000,10%,10-yearbondhas:（）

答案:Therighttoreceive$1,000atmaturityAdisadvantageofbondfinancingis:（）

答案:Bondspayperiodicinterestandtherepaymentofparvalueatmaturity.Anestimatedliability:（）

答案:Isaknownobligationofanuncertainamountthatcanbereasonablyestimated.OnSeptember1,KnackCompanysigneda$50,000,90-day,5%notepayablewithCentralSavingsBank.WhatisthejournalentrythatshouldberecordedbyKnackuponmaturityofthenote?(Use360daysayear.)（）

答案:DebitNotesPayable$50,000;debitInterestExpense$625;creditCash$50,625.AthenaCompany'ssalariedemployeesearntwoweeksofvacationperyear.Itpays$858,000intotalemployeesalariesfor52weeksbutitsemployeesworkonly50.RecordAthenaCompany'sweeklyjournalentrytorecordthevacationexpense:（）

答案:DebitVacationBenefitsExpense$660;creditVacationBenefitsPayable$660.Allofthefollowingstatementsregardinglong-termliabilitiesaretrueexcept?（）

答案:Liabilitiesthatdonothaveafixedduedate,butarepayableondemand,arereportedaslong-termliabilities.Employeesearnvacationpayattherateofonedaypermonth.DuringthemonthofJune,10employeesqualifyforonevacationdayeach.Theiraveragedailywageis$150perday.WhichofthefollowingisthenecessaryadjustingjournalentrytorecordtheJunevacationbenefits?（）

答案:DebitVacationBenefitsExpense$1,500;creditVacationBenefitsPayable$1,500.Tocapitalizeanexpenditureisto:（）

答案:Debitanassetaccount.Depreciation:（）

答案:Istheprocessofallocatingthecostofaplantassettoexpense.BeckmanEnterprisespurchasedadepreciableassetonOctober1,Year1atacostof$100,000.Theassetisexpectedtohaveasalvagevalueof$20,000attheendofitsfive-yearusefullife.Iftheassetisdepreciatedonthedouble-declining-balancemethod,theasset'sbookvalueonDecember31,Year2willbe:（）

答案:$54,000Whenoriginallypurchased,avehiclecosting$23,000hadanestimatedusefullifeof8yearsandanestimatedsalvagevalueof$3,000.After4yearsofstraight-linedepreciation,theasset'stotalestimatedusefullifewasrevisedfrom8yearsto6yearsandtherewasnochangeintheestimatedsalvagevalue.Thedepreciationexpenseinyear5equals:（）

答案:$5,000Acompanyhadatractordestroyedbyfire.Thetractororiginallycost$85,000withaccumulateddepreciationof$60,000.Theproceedsfromtheinsurancecompanywere$20,00