会计学英语习题

Chapter 2Recording Business TransactionsShort Exercises(5 min.)S 2-1Hortons payment was notan expense.Horton acquired an asset,Equipment,because the computeris an economic resource that could produce future benefit tothe business.(5 min.)S 2-2a.$14,800($13,000+$1,800+$4,000-$4,000)b.$1,800创 son Education(5-10 min.)S 2-3Cash31,0002,000B a L 30,0003,000(5 min.)S 2-4Increased total assets:August 1 (Cash)August 1 (Medical supplies)August 3(Cash,Accounts Receivable)(5-10 min.)S 2-5a.Purchase of asset for cashSale of asset for cashCollection of an account receivableb.Payment of dividends to ownersExpense transactionc.Pay a liabilityd.Issuance of sharesRevenue transactione.Purchase of asset on accountBorrow money(Answers may vary.)2-22014 Pearson Education(10 min.)S 2-6JournalDATE ACCOUNT TITLES AND EXPLANATION DEBIT CREDITJul.15 Cash.34,000Note Payable.34,000Borrowed money from the bank.22 Accounts Receivable.8,500Service Revenue.8,500Performed service on account.28 Cash.6,500Accounts Receivable.6,500Received cash on account.29 Utilities Expense.700Accounts Payable.700Received utility bill.31 Salary Expense.3,100Cash.3,100Paid salary expense.现4-Pe创 son Education(10-15 min.)S 2-7Req.1JournalDATE ACCOUNT TITLES AND EXPLANATION DEBIT CREDITSupplies.2,000Accounts Payable.2,000Purchased supplies on account.Accounts Payable.500Cash.500Paid cash on account.Req.2_ Account Payable500_ 2,000BaL 1,500Req.3The business owes$1,500,as shown in the Accounts Payableaccount.2-42014 Pearson Education(10-15 min.)S 2-8Req.1JournalDATE ACCOUNT TITLES AND EXPLANATION DEBIT CREDITAccounts Receivable.Service Revenue.Performed service on account.Cash.Accounts Receivable.Received cash on account.Req.2Casn Accounts Receivable2,400 _ 5,200 2,400Bal.2,400 Bal.2,800.5,2 0 05,200.2,4 0 02,400Service Revenue5,200Bal.5,200 现4-Pe创 son Education(10 min.)S 2-9Old BoardwalkTrial BalanceAs at December 31,20X6ACCOUNT DEBIT CREDITMillionsCash.$6Other assets.13Accounts payable.$1Other liabilities.5Shareholders,equity.3Revenues.37Expenses.27 _Total.函 函Old Boardwalks net income:$10 million($37-$27)(10 min.)S 2-101.Total assets2.Total liabilities3.Net income=$100,500($7,500+$12,000+$5,000+$24,000+$52,000)=$53,000($21,000+$32,000)=$31,500($63,000-$23,000-$7,500-$1,000)2-62014 Pearson Education(10 min.)S 2-111.Total debitsTotal creditsDifference2.Total debitsTotal creditsDifference3.Total debitsTotal creditsDifference$85,200($132,000+$5,200-$52,000)$132,000$45,000($132,000-$85,200)$46,800/9=$5,200(an integer),whichsuggests either a transposition or a slide.$141,000($132,000+$21,000-$12,000)$132,000$9,000($141,000-$132,000)$9,000/9=$1,000(an integer),whichsuggests either a transposition or a slide.$120,000($132,000-$12,000)$144,000($132,000+$12,000)$24,000($144,000-$120,000)$24,000/2=$12,000(original amount ofaccounts receivable).现4-Pe创 son Education(10 min.)S 2-12H1.DebitA.The cost of operating abusiness;decrease inA2.Expenseshareholders,equityC3.Net incomeB.Always a liabilityD4.LedgerC.Revenues-ExpensesJ5.PostingD.Grouping of accounts16.Normal balanceE.Assets-LiabilitiesB7.PayableF.Record of transactionsF8.JournalG.Always an assetG9.ReceivableH.Left side of an accountE10.Owners,equityI.Side of an account whereincreases are recordedJ.Copying data from thejournal to the ledger2-82014 Pearson Education(5 min.)S 2-13CashComputer Equipment140,000100,000Accounts PayableShare Capital100,000140,000Total debits=$240,000($140,000+$100,000)Total credits=$240,000($100,000+$140,000)现4-Pe创 son EducationExercisesGroup A(10-15 min.)E 2-14ATO:Home OfficeFROM:Store ManagerDuring the first week,I used the stores beginning cash topurchase equipment and supplies.I signed a note payable tobuy land and a building.After all these transactions,thestores balance sheet appears as follows:M.CrewDallas StoreBalance SheetDateASSETS LIABILITIESCash$26,000*Note payableSupplies8,000($88,000+$123,000)$211,000Equipment60,000Land88,000SHAREHOLDERS,EQUITYBuilding123,000Share capital 94,000Total liabilities andTotal assets$305,000shareholders equity$305,000*94,000-8,000-60,000=26,000Cash94,000 60,0008,00026,0002-102014 Pearson Education(10-15 min.)E 2-15Aa.No effect on total assets.Increase in cash offsets thedecrease in accounts receivable.b.No effect(a personal transaction)c.No effect on total assets.Increase in cash offsets thedecrease in land.d.Increased assets(cash)e.No effect on total assets.Increase in land offsets thedecrease in cash.f.Increased assets(cash)g.Decreased assets(cash)h.Increased assets(equipment)i.Increased assets(merchandise inventory)j.Decreased assets(cash)现4-Pe创 son Education(10-20 min.)E 2-16AReq.1Analysis of TransactionsASSETS=LIABILITIES+SHAREHOLDERS5 EQUITYAccountsMedical Accounts NoteShare Retained Type of ShareholdersDate Cash+Receivable+Supplies+Land=Payable+Payable+Capital+Earnings Equity TransactionMar.6 42,00042,000 Issued shares9(25,000)25,0001216,000 16,00015 Not a transaction of the business.15-31 3,8503,8507,700 Service revenue15-31(900)(900)Salary expens