課程名稱︰ 會計學甲一上
課程性質︰ 國企系必修
課程教師︰ 金成隆
開課學院： 管理學院
開課系所︰ 國企系
考試日期（年月日）︰
考試時限（分鐘）： 180mins
試題 :
1. If prepaid expense are initially recorded in expense accounts and
have not all been used at the end of the accounting period, then
failure to make an adjusting entry will cause
a. assets to be understated.
b. assets to be overstated.
c. expense to be understated.
d. contra-expense to be overstated.
2. In recording an accounting transaction in a double-entry system
a. the number of debit accounts must equal the number of credit
accounts.
b. there must always be entries made on both sides of the accounting
equation.
c. the amount of the debits must equal the amount of the credits.
d. there must only be two accounts affected by any transaction.
3. The accounting process includes each of the following except
a. communication
b. convergence
c. identification
d. recording
4. A trial balance would only help in detecting which one of the
following errors?
a. A transaction that is not journalized.
b. A journal entry that is posted twice.
c. Offseting errors are made in recording the transaction.
d. A transposition error when transferring the debit side of the
journal entry to the ledger.
5. The usual sequence of steps in the transaction recording process is
a. journal -> analyze -> ledger.
b. analyze -> journal -> ledger.
c. journal -> ledger -> analyze.
d. ledger -> journal -> analyze.
6. A complete journal entry does not show
a. the date of the transaction.
b. the new balance in the accounts affected by the transaction.
c. a brief explanation of the transaction.
d. the accounts and amounts to be debited and credited.
7. Bread Basket provides baking supplies to restaurants and grocery
stores. On November 1, 2014, Bread Breakfast signed a $500,000,
6-month note payable. The note requires Bread Basket to pay interest
at an annual rate of 6%. Assuming Bread Basket makes the appropriate
adjusting entry, what is the impact on its December 31, 2014
statement of financial position?
a. An expense of $15,000.
b. An expense of $5,000.
c. A liability of $5,000.
d. An expense of $15,000 and a liability of $15,000.
8. The Roy's Downtown Diner received a bill of $400 from the Emeril
Advertising Agency. The owner, Roy James, is postponing payment of
the bill until a later date. The effect on specific items in the
basic accounting is
a. a decrease in Cash and an increase in Accounts Payable.
b. a decrease in Cash and an increase in Retained Earnings.
c. an increase in Accounts Payable and a decrease in Retained
Earnings.
d. a decrease in Accounts Payable and an increase in Retained
Earnings.
9. All of the financial statements are for a period of time except the
a. income statement.
b. retained earnings statement.
c. statement of financial position.
d. statement of cash flows.
10. Depreciation is the process of
a. valuing an asset at its fair value.
b. increasing the value of an asset over its useful life in a
rational and systematic manner.
c. allocating the cost of an asset to expense over its useful life
in a rational and systematic manner.
d. writing down an asset to its real value each accounting period.
11. If the retained earnings account increases from the beginning of
the year to the end of the year, then
a. net income is less than dividends.
b. net loss is less than dividends.
c. the company must have sold shares.
d. net income is greater than dividends.
12. Which of the following accounts is reported in the equity section
of the statement of financial position?
a. Dividends
b. Share capital-ordinary
c. Revenues
d. All of these answer choices are correct.
13. On January 2, 2014, National Credit and Cash purchasd a general
liability insurance policy for $4,800 for coverage for the calender
year. The entries $4,800 was charged to insurance Expense on
January 2, 2014. If the firm prepares monthly financial statements,
the proper adjusting entry on January 31, 2014 will be:
a. Insurance Expense -------------------- 4,400
Prepaid Insurance ----------------- 4,400
b. Prepaid Insurance -------------------- 4,400
Insurance Expense ----------------- 4,400
c. Insurance Expense -------------------- 400
Prepaid Insurance ----------------- 400
d. Prepaid Insurance -------------------- 400
Insurance Expense ----------------- 400
14. A flower shop makes a large sale and provides flowers to a customer
for $1,000 on November 30. The customer is sent a statement on
December 5 and a check is received on December 10. The flower shop
follows the IFRS and applies the revenue recognition principle.
When is the $1,000 considered to be earned?
a. December 5.
b. December 10.
c. November 30.
d. December 1.
15. Benito Company began the year with equity of $525,000. During the
year, the company recorded revenues of $750,000, expense of
$570,000, and paid dividends of $60,000. What was Benito's equity
at the end of the year?
a. $765,000.
b. $645,000.
c. $1,215,000.
d. $705,000.
Problem I:
On June 1, 2014, Bush Company prepared a statement of financial
position that shows the following:
Assets (no cash)------------------ $100,000
Liabilities----------------------- 75,000
Equity --------------------------- 25,000
Shortly thereafter, all of the assets were sold for cash. How would the
statement of financial position appear immediately after the sale of
the assets for cash for each of the following cases?
Cash Received Balances Immediately After Sale
for the Assets --------------------------------
--------------- Assets - Liabilities = Equity
Cash A $110,000 $_______ $_________ $______
Cash B 100,000 _______ _________ ______
Cash C 90,000 _______ _________ ______
Problem II
At the beginning of 2014, Bonds Company had total assets of $650,000
and total liabilities of $370,000. Answer each of the following
questions.
1. If total assets increased $60,000 and equity decreased $90,000
during the year, determine the amount of total liabilities at the
end of year.
2. During the year, total liabilities decreased $75,000 and equity
increased $50,000. Compute the amount of total asset at the end of
the year.
3. If total assets decreased $100,000 and total liabilities increased
$55,000 during the year, determine the amount of equity at the end
of the year.
Problem III:
Prepare journal entries for each of the following transactions.
1. Prepare services for customers on accounts €6,000.
2. Purchased €20,000 of equipment on account.
3. Received €3,000 from customers in transaction 1.
4. The company paid dividends of €1,000.
Problem IV:
The ledger account balances for Perkins Company are listed below.
Accounts Payable € 10,000
Accounts Receivable 7,000
Cash 13,000
Share Capital-Ordinary 9,000
Dividends 4,000
Service Revenue 40,000
Salaries and Wages Expense 25,000
Unearned Service Revenue 2,000
Utilities Expense 12,000
Instructions:
Prepare a trial balance in proper from the Perkins at December 31, 2014
Problem V
The Aces, a semi-professional baseball team, prepare financial
statements on a monthly basis. Their season begins in April, but in
March the team engaged in the following transactions:
(a) Paid $120,000 to Kansas City as advance rent for use of Kansas
City Stadium for the six month period April 1 through September 30
(b) Collected $240,000 cash from sales of season tickets for the team's
20 home games. This amount was credited to Unearned Ticket Revenue.
During the month of April, the Ace played four home games and five
road games.
Instructions:
Prepare the adjusting entries required at April 30 for the transactions
above.
Problem VI
Post the following transactions to T-accounts and determine each
account's ending balance.
1. Supplies ------------------------ 2,000
Accounts Payable----------------- 2,000
2. Accounts Receivable ---------------- 4,000
Service Revenue ----------------- 4,000
3. Cash ------------------------------- 3,500
Accounts Receiivable ------------ 3,500
4. Accounts Payable ------------------- 1,000
Cash ---------------------------- 1,000
Problem VII
Match the statements below with the appropriate terms by entering the
appropriate letter code in the spaces provided.
Terms:
a. Prepaid Insurances
b. Unearned Revenues
c. Accrued Revenues
d. Accrued Expenses
Statements:
__ 1. A revenue not yet earned; collected in advance.
__ 2. Office supplies on hand that will be used in the next period.
__ 3. Interest revenue collected; not yet earned.
__ 4. Rent not yet collected; already earned.
__ 5. An expense incurred; not yet paid or recorded.
__ 6. A revenue earned; not yet collected or recorded.
__ 7. An expense not yet incurred; paid in advance.
__ 8. Interest expense incurred; not yet paid.
Problem VIII
Trench and Fog Garment Company purchased equipment on June 1 for
$108,000, paying $24,000 cash and signing a 6%, 2-month note for the
remianing balance. The equipment is expected to depreciate $24,000
each year. Trench and Fog Garment Company prepares monthly financial
statements.
Instructions:
(a) Prepare the general journal entry to record the acquisition of the
equipment on June 1st.
(b) Prepare any adjusting journal entries that should be made on June
30.
(c) Show how the equipment will be reflected on Trench and Fog Garment
Company's statement of financial position on June 30.
Problem IX
The statements of financial position of Claude Company include the
following:
12/31/14 12/31/13
Interest Receivable €4,300 € -0-
Supplies 5,000 3,000
Salaries and Wages Payable 4,100 3,800
Unearned Service Revenue -0- 4,000
The income statement for 2014 shows the following:
Interest Revenue €16,400
Service Revenue 75,700
Supplies Expense 10,700
Salaries and Wages Expense 41,000
Instructions
Calculate the following for 2014:
1. Cash received for interest.
2. Cash paid for supplies.
3. Cash paid for Salaries and wages.
4. Cash received for revenue.
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