会计英语第三章作业.doc

.Matching Questions1.Depreciation expenseThe accounting system that recognizes revenues when earned and expenses when incurred.2.Time period principleThe accounting system where revenues are recognized when cash is received and expenses are recorded when cash is paid.3.Profit marginItems paid for in advance of receiving their benefits.4.Matching principleNet income divided by net sales.5.Accrued revenuesThe expense created by allocating the cost of plant and equipment to the periods in which they are used.6.Accrual basis accountingAllocates equal amounts of an assets cost (less any salvage value) to depreciation expense during its useful life.7.Cash basis accountingA principle that assumes that an organizations activities can be divided into specific time periods such as months, quarters, or years.8.Prepaid expensesThe principle that requires expenses to be reported in the same period as the revenues that were earned as a result of the expenses.9.Straight-line depreciationRevenues earned in a period that are both unrecorded and not yet received in cash or other assets. 140.Match the following terms the appropriate definition.精品.141.Match the following terms with the appropriate definition.1.Adjusted trial balanceA balance sheet that lists assets on the left side and liabilities and equity on the right.2.Adjusting entryA journal entry used at the end of an accounting period to bring an asset or liability account balance to its proper amount and update the related expense or revenue account.3.Account form balance sheetA listing of accounts and balances prepared before adjustments are recorded.4.Accounting periodThe consecutive 12 months (or 52 weeks) selected as the organizations annual accounting period.5.Contra accountA balance sheet that lists items vertically in the order: assets, liabilities and equity.6.Unadjusted trial balanceThe length of time covered by financial statements.7.Interim financial reportsAn account linked with another account and having an opposite normal balance.8.Fiscal yearFinancial reports covering less than one year, usually one, three, or six-month periods.9.Report form balance sheetA listing of accounts and balances prepared after adjustments are recorded and posted to the ledger.10.Natural business yearA 12-month period that ends when a companys sales activities are at their lowest point.精品.精品.Problems1.On December 14 Bench Company received $3,700 cash for consulting services that will be performed in January. Bench records all such prepayments in a liability account. Prepare a general journal entry to record the $3,700 cash receipt.2.On December 31, Connelly Company had performed $5,000 of management services for clients that had not yet been billed. Prepare Connellys adjusting entry to record these fees earned.3.A company has 20 employees who each earn $500 per week for a 5-day week that begins on Monday. December 31 of Year 1 is a Monday, and all 20 employees worked that day. a) Prepare the required adjusting journal entry to record accrued salaries on December 31, 2009.b) Prepare the journal entry to record the payment of salaries on January 4, 2010.4.Pfister Co. leases an office to a tenant at the rate of $5,000 per month. The tenant contacted Pfister and arranged to pay the rent for December 2009 on January 8, 2010. Pfister agrees to this arrangement. a.) Prepare the journal entry that Pfister must make at December 31, 2009 to record the accrued rent revenue.b.) Prepare the journal entry to record the receipt of the rent on January 8, 2010.5.Prior to recording adjusting entries on December 31, a companys Store Supplies account had an $880 debit balance. A physical count of the supplies showed $325 of unused supplies available as of December 31. Prepare the required adjusting entry.精品.6.Prepare general journal entries on December 31 to record the following unrelated year-end adjustments. a. Estimated depreciation on office equipment for the year, $4,000.b. The Prepaid Insurance account has a $3,680 debit balance before adjustment. An examination of insurance policies shows $950 of insurance expired.c. The Prepaid Insurance account has a $2,400 debit balance before adjustment. An examination of insurance policies shows $600 of unexpired insurance.d. The company has three office employees who each earn $100 per day for a five-day workweek that ends on Friday. The employees were paid on Friday, December 26, and have worked full days on Monday, Tuesday, and Wednesday, December 29, 30, and 31.e. On November 1, the company received 6 months rent in advance from a tenant whose rent is $700 per month. The $4,200 was credited to the Unearned Rent account.f. The company collects rent monthly from its tenants. One tenant whose rent is $750 per month has not paid his rent for December.如有侵权请联系告知删除，感谢你们的配合！精品