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1、会 原 期 中 复 习 题Part I. Multiple Choice1. External users of financial accounting information include all of the following except:A. InvestorsB. Labor unionsC. Line managersD. General publicAnswer：C2. A trial balance has total debits of $20,000 and total credits of $24,500. Which one of the following er
2、rors would create this imbalance?A. A $2,250 debit to Rent Expense in a journal entry is incorrectly posted to the ledger as a $2,250 credit, leaving the Rent Expense account with a $3,000 debit balance.B. A $4,500 debit to Salaries Expense in a journal entry is incorrectly posted to the ledger as a
3、 $4,500 credit, leaving the Salaries Expense account with a $750 debit balance.C. A $2,250 credit to Consulting Fees Earned in a journal entry is incorrectly posted to the ledger as a $2,250 debit, leaving the Consulting Fees Earned account with a $6,300 credit balance.Answer：A3. Amalia Company rece
4、ived its utility bill for the current period of $700 and immediately paid it. Its journal entry to record this transaction includes aa. Credit to Utility Expense for $700.b. Debit to Utility Expense for $700.c. Debit to Accounts Payable for $700.d. Debit to Cash for $700.e. Credit to Capital for $70
5、0.Answer: B4. Overland purchased $3,000 of merchandise from Overseas. The credit terms were 2/10, n/30. The freight terms were FOB shipping point. Freight costs of $60 were included in the invoice. What journal entry should Overland record, assuming Overland uses a perpetual inventory system? A. Mer
6、chandise Inventory, debit, $3,000; delivery expense, debit, $60; Accounts Payable, credit, $3,060 B. Merchandise Inventory, debit, $3,000; Accounts Payable, credit, $3,000 C. Merchandise Inventory, debit, $2,940; Accounts Payable, credit, $2,940 D. Merchandise Inventory, debit, $3,060; and Accounts
7、Payable, credit, $3,060.Answer: D5. A companys ending inventory includes the following items:Product Units on Hand Unit Cost Market value per unitA 20 $6 $3B 50 $5 $8C 10 $10 $15Applied separately to each product, the inventorys lower of cost or market amount is:A. $520 B. $410 C. $670 D. $600 E. No
8、ne of the aboveAnswer；B6If the petty cash fund is not replenished at the end of the accounting period, which will not be true? A. Net income will be overstated or net loss will be understated B. Liabilities will be overstated on the balance sheet C. The cash for the firm will be overstated D. The ex
9、penses will be understated E. The income statement and the balance sheet will not be correctAnswer: B7. A company needs to replenish its $500 petty cash fund. Its petty cash box has $75 cash and petty cash receipts of $420. The journal entry to replenish the fund includesa. A debit to Cash for $75.b
10、. A credit to Cash for $75.c. A credit to Petty Cash for $420.d. A credit to Cash Over and Short for $5.e. A debit to Cash Over and Short for $5Answer: E8. According to the rules of debit and credit for balance sheet accounts:A. Increases in asset, liability and owners equity accounts are recorded b
11、y debitsB. Decrease in asset and liability accounts are recorded by credits.C. Increases in asset and owners equity accounts are recorded by debits.D. Decrease in liability and owners equity accounts are recorded by debits.Answer: D9. Which of the following is provided by a trial balance in which to
12、tal debits equal total credits:A. Proof that no transaction was completely omitted from the ledger during the posting process.B. Proof that the correct debit or credit balance has been computed for each accountC. Proof that the ledger is in balanceD. Proof that transactions have been correctly analy
13、zed and recorded in the proper account.Answer: C10. The CPA firm auditing Mason Street Recording Studios found that total stockholders equity was understated and liabilities were overstated. Which of the following errors could have been the cause:A. Failure to record the earned portion of fees recei
14、ved in advance.B. Making the adjustment entry for depreciation expense twice.C. Failure to record interest accrued on a note payable.D. Failure to make the adjusting entry to record revenue that had been earned but not yet billed to clientsAnswer: A11. Which of the following types of information isn
15、t found in subsidiary ledger, but in the general ledger? A. Total cost of goods sold for the periodB. The quantity of a particular product sold during the periodC. The dollar amount owed to a particular creditorD. The dollar amount payable to a vendorAnswer: A12. Fashion House uses a perpetual inven
16、tory system. At the beginning of the year, inventory amounted to $50,000. During the year, the company purchased merchandise for $230,000, and sold merchandise costing $245,000. A physical inventory taken at year-end indicated shrinkage losses of $4,000. Prior to recording these shrinkage losses, the year-end balance in the companys Inventory account was:A. $31,000 B. $35,000 C. $50,000 D. Some other amountAnswer: B13. T-Shirt City uses a periodic inven
