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地大22春《会计专业英语》在线作业答卷(一)

第一章

chapter1---chapter 2 FAQ

司帐假设或司帐原则有哪些?

1、司帐主领司帐上假设企业法人是一个独破的实体,司帐关注的核心是企业而不是业主、合伙人

2、持续运营假设每一个企业在可能预感的将来,不会见临停业跟清理

3、司帐分期这一假设规定了司帐东西的时光界线,将企业持续一直的运营活动分割为多少较短时代,以便供给司帐信息,是正确打算收入、费用跟损益的前提

4、货币计量这一假设规定了司帐的计量手段,指出企业的出产运营活动及其成果可能经由过程货币反应

5、权责产生制将权责产生制放到假设的档次凸起了权责产生制在财务司帐不雅点框架中的地位。以权力或义务能否产生为根据来断定、安排经济营业能否进入司帐信息体系以及进入司帐信息体系后的地位,它高于其他的司帐确认原则。

Chapter 1 Overview of Accounting Accounting---an information systemAccounting concepts and principles

Key points: accounting principles Accounting equationDifficulties: GAAPAccounting equation Study Objective Explain what accounting isExplain the accounting equation Understand specialized accounting fields Accounting concepts and principles

Dialogue

Is accounting of great importance?

More bonus?

The following is an excerpt from a conversation between Dawn Abrams and Kala Wiggins, just before they boarded a flight to Paris on United Airlines. They are going to Paris to attend their company’s annual sales conference.

Dawn: Kala, aren’t you taking an introductory accounting course at State College?

Kala: Yes, I decided it’s about time I learned something about accounting. You know, our annual bonuses are based upon the sales figures that come from the accounting department.

Dawn: I guess I never really thought about it.

Kala: you should think about it! Last year, I placed a $ 200,000 order on Decemeber 26. But when I got my bonus, the $ 200,000 sale wasn’t included. They said it hadn’t been shipped until January 6, so it would have to count in next year’s bonus.

Dawn: A real bummer!

Kala: Right! I was counting on that bonus including the $ 200,000 sale.

Dawn: Did you complain?

Kala: Yes, but it didn’t do any good. An, the head accountant, said something about matching revenues and expenses. Also, something about not recording revenues until the sale is final. I figure I’d take the accounting course and find out whether he’s just jerking me around.

Dawn: I never really thought about it. When do you thinkUnited Airlines will record its revenues from this flight?

Kala: Mmm...I guess it could record the revenue when it sells the ticket...or ...when the boarding passengers are taken at the door...or.. when whe get off the plane...or when our company pays for thetickes ...or...I don’t know. I’ll ask my accounting instructor.

Discuss:

1)Why does Kala, a sales manager, want to take an accounting class?

2)When United Airlines should recognize the revenue from ticket sales to properly match revenues and expense?Text Reading 1-1Accounting concepts 1-2Role1-3Specialized accounting fields1-4Accounting equation

Added

1. The function of accounting Accounting is a basic and vital element in every modern business.Accounting links decision makers with economic activities and withthe results of their decisions.

2. accounting entity Sole proprietorship enterprises; partnership enterprises; limited liability partnership enterpises; corporation limited; accounting entity Sole proprietorship: owned by one person; simple to establish; owner controlled Partnership: owned by more than one person; simple to establish; shared control Limited liability partnership: limited liability for partnership debts and obligationsCorporation: organized as a separate legal entity and owned bystockholders; easy to transfer ownership; easier to raise funds; no personal liability 3. Accounting principles

1) accounting assumptions2) accounting principles 司帐假设与司帐原则司帐假设4 条Accouting assumptions司帐原则14条Accounting principles 司帐主体Entity收入实现原则相干性Realization relativity可比性分歧性Comparability consistency持续运营Ongoing concern及时性清楚性Keeping-up full-disclosure权责产生制配比Accrual basis matching司帐分期Time—period谨慎历史本钱计价Conservation cost货币计量Money measurement (stables-dollar)分别收益性付出与资本性付出重要性Profit cost and capital cost materiality客不雅性原则本品质于情势Objectivity qualityAccounting entity assumption Economic events can be identified with a particular unit of accountability, separate from the owners. Ongoing concern assumption The enterprise will continue in operation long enough to carry out its existing operations. Money measurement assumption Only transaction data capable of being expressed in terms of money should be included in the accounting records of the economic entity. Time-period assumption The economic life of a business can be divided into artificial time periods.

4. Accounting elements and accounting equation What are accounting elements?What is accouting equation? 1)What are accounting elements?Accounting elements are a basic classification of accounting objectives, and embodies the object of accounting practices.

Accounting elements: assets, liabilities, income, owner’s equity, expenses, revenue六概略素①资产assets: things of value or property owned by an economic entity②负债liabilities: amounts owed to creditiors③全部者权利owner’s equity: owner’s claim, investment, net worth④收入revenues: amount of assets that a business gains (earns) from its operations⑤费用expenses: amounts of assets that a business uses up as a result of its operations⑥利润/ 收益income: the amount by which revenues exceed expenses2)Accounting equation Assets= liabilities+ owners’equity A= L+ OE Accounting equation always stays in balance Assets= liabilities + Owners’equity Assets= liabilities + owners’equity + ( Revenue –Expenses)Assets+ Expenses= liabilities + owners’equity + revenue Brief Summary 1.Accounting is a basic and vital element in every modern business.

2.The most fundamental concepts for recording business are accounting assumptions and accounting principles.

3.Accounting elements are a basic classification of accounting objectives. Assets, liabilities, owners’equity, revenues, expenses and income are known as six accounting elements of a business enterprise. 4.Theaccounting equation: Assets= liabilities + owners’equity.Chapter 2 Accoutning equation and double entry systemKey points: double entry system, example of recording transactionDifficulties: double entry system Study objective Define double-entrysystem and state the rules for double entry Transaction analysis

Processing to simple transactionsDialogue: Which one is cheaper?The following is an excerpt from a conversation between Gina and Kim. Gina is debating whether to buy a stereo system from Mega Sound, a locally electronics stroe, or Decibel Electronics, a mall-order electronics company.

Gina: Kim, I don’t know what to do about buying my new stereo.

Kim: What’s the problem?

Gina: Well, I can buy it locally at Mega Sound for &&495. however, Decibel Electronics has the same system listed for $499.99.Kim: So what’s the big deal? Buy it from Mega Sound.

Gina: It’s not quite that simple. Decibel electronics said something about not having to pay tax, since I was out-of-state.

Kim: Yes, that’s a good point. If you buy it at Mega Sound, they’ll charge you 5% sales tax.

Gina: But Decibel Electronics charges $ 12.5 for shipping and handling. If I have them send it next day air, it’ll cost $ 25 for shipping and handling.

Kim: I guess it is a little confusing.

Gina: That’s not all. Mega Sound will give an additional 1% discount if I pay cash. Otherwise, they will let me use my master card, or I can pay it off in three monthly installments.

Kim: Anything else???

Gina: Well...Decibel Electronics says I have to charge it on my master card. They don’t accept checks.

Kim: I am not surprised. Many mail-order houses don’t accept checks.

Discussion

1.Assuming that Mega Sound doesn’t charge sales tax on the sale to Gina, which company is offering the best buy?

2.What might be some considerations other than price that might influence Gina’s decision on where to buy the stereo system?

3.If you were Gina, where would you buy the stereo system?

Text Reading2-1 Accounting equation2-2 Double entry system2-3 Example of recording transactions Added Exercise1.Label the following accounts as asset (A), liabilitiy ( L), owner’s equity (OE), revenue(R),or expense (E)a. office suppliesb. professional feesc. prepaid insureanced. R.L.Osborn, Drawing e. accounts payablef. service income g. R.L. osbron, capitalh. rent expensei. accounts receivable j. wages expense

2. Account type of account increase decrease normal balance A: land assetdebitcreditdebit B: xx, capital C: accountws receivable D: xx, withdrawing E: cashF: buildingG: unearned revenueH: accounts payable I: salary expense J: prepaid rentK: utilities expense L: fees earned answer questions

1)Which of these is/are an example of an asset account?A. service revenueB. withdrawalsC. suppliesD. all of the above

2)Xxx company paid $2850 on account. The effect of this transaction on the accounting equation is to __________A.decrease assets and decrease owner’s equity B.increase liabilities and decrease owner’s equity C.have no effect on total assets D.decease assets and decrease liabilities

3)Which of these statements is false?A.increae in assets and increae in revenues are recorded with a debit B.increae in liabilities and increae in owner’s equity are recorded with a creditC.increae in both assets and withdrwals are recorded with a debit D.decreases in liabilities and increae in expenses are recorded with a debit 4)Note payable has a normal beginning balance of $30 000. During the period, new borrowings total $ 63 000 and the ending balance in Note Payable is $ 41 000. Determine the payments on loans during the period.__________A. $ 74 000B.$ 52 000C. $ 134 000D. cannot be determined from the information given

5)Which of these accounts has a normal debit balance?___________A. rent expenseB. withdrawalsC. service revenueD. both A and B have a normal debit balance

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