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1、会计分录练习题及答案财务会计英语 练习及答案ch08篇一 : 财务会计英语 练习及答案ch08 CHAPTER 8 RECEIVABLES Chapter 8Receivables Chapter 8Receivables TRUE/FALSE 1. Notes receivable and accounts receivables can also be called trade receivables. ANS: T DIF: 1 OBJ: 01 2. Receivables from company owners and officers should be disclosed sepa
2、rately on the balance sheet. ANS: T DIF: 1 OBJ: 01 3. Receivables not currently collectible are reported in the investments section of the balance sheet. ANS: T DIF: 1 OBJ: 01 4. Since those responsible for receivables record keeping and credit approval do not handle cash, these duties do not need t
3、o be separated to maintain good internal control. ANS: F DIF: 1 OBJ: 02 5. Maintaining the Accounts Receivable control account and the Accounts Receivable Subsidiary Ledger should be assigned to the same employee for good internal control. ANS: F DIF: 1 OBJ: 02 6. When companies sell their receivabl
4、es to other companies, the transaction is called factoring ANS: T DIF: 01 OBJ: 03 7. Of the two methods of accounting for uncollectible receivables, the allowance method provides in advance for uncollectible receivables. ANS: T DIF: 1 OBJ: 03 8. The difference between Accounts Receivable and its con
5、tra asset account is called net realizable value. ANS: T DIF: 1 OBJ: 04 9. The estimate based on sales method violates the matching principle. ANS: F DIF: 2 OBJ: 04 191 Chapter 8Receivables 10. When the estimate based on analysis of receivables is used, income is reduced when a specific receivable i
6、s written off. ANS: F DIF: 2 OBJ: 04 11. When an account receivable that has been written off is subsequently collected, the account receivable is reinstated. ANS: T DIF: 2 OBJ: 04 12. Although Allowance for Doubtful Accounts normally has a credit balance, it may have either a debit or a credit bala
7、nce before adjusting entries are recorded at the end of the accounting period. ANS: T DIF: 1 OBJ: 04 13. At the end of a period, before the accounts are adjusted, Allowance for Doubtful Accounts has a credit balance of $250, and net sales on account for the period total $500,000. If uncollectible ac
8、counts expense is estimated at 1% of net sales on account, the current provision to be made for uncollectible accounts expense is $4,750. ANS: F DIF: 3 OBJ: 04 14. At the end of a period, before the accounts are adjusted, Allowance for Doubtful Accounts has a debit balance of $500, and net sales on
9、account for the period total $800,000. If uncollectible accounts expense is estimated at 1% of net sales on account, the current provision to be made for uncollectible accounts expense is $8,500. ANS: F DIF: 3 OBJ: 04 15. Allowance for Doubtful Accounts is a liability account. ANS: F DIF: 1 OBJ: 04
10、16. At the end of a period, before the accounts are adjusted, Allowance for Doubtful Accounts has a debit balance of $2,000. If the estimate of uncollectible accounts determined by aging the receivables is $30,000, the current provision to be made for uncollectible accounts expense is $30,000. ANS:
11、F DIF: 3 OBJ: 04 17. At the end of a period, before the accounts are adjusted, Allowance for Doubtful Accounts has a credit balance of $5,000. If the estimate of uncollectible accounts determined by aging the receivables is $50,000, the current provision to be made for uncollectible accounts expense
12、 is $45,000. ANS: T DIF: 3 OBJ: 04 192 Chapter 8Receivables 18. When using the estimate-based-on-sales method, the entry to record uncollectible accounts expense includes a credit to the Accounts Receivable account. ANS: F DIF: 2 OBJ: 04 19. When using the estimate based on analysis of receivables,
13、the amount computed in the analysis is always the required amount that would be recorded in the adjusting entry. ANS: F DIF: 2 OBJ: 04 20. The allowance for doubtful accounts is similar to accumulated depreciation in that the account represents the total of all accounts written-off since the beginni
14、ng year. ANS: F DIF: 2 OBJ: 04 21. Generally accepted accounting principles do not normally allow the use direct write-off method of accounting for uncollectible accounts. ANS: T DIF: 2 OBJ: 05 22. The direct write-off method records uncollectible accounts expense in the year the specific account re
15、ceivable is determined to be uncollectible. ANS: T DIF: 1 OBJ: 05 23. The equation for computing interest on an interest-bearing note is as follows: interest equals maturity value times interest rate times time. ANS: F DIF: 2 OBJ: 06 24. The due date of a 60-day note dated July 10 is September 10. ANS: F DIF: 2 OBJ: 06 25. The maturity value of a 12%, 60-day note for $5,000 is $5,600. ANS: F DIF: 2 OBJ: 06 26. The maturity value of a note receivable is always the same as its face value.
