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1、金融英语中级会计学模拟3SECTIONONEAnswerallquestionsinthissection.Question1ReadthefollowingstatementsandstatewhethertheyareTrue(T)orFalseF..Forallfalsestatements,youarerequiredtowritethecorrectstatements・Writeallanswersontheanswersheets.1、Mr.Charlesinvested$50,000tocommenceh
2、isbusiness,thatmeansnowhecanmake$50,000claimonthebusiness.2^Althoughoneaccountantmistakestowritedownacreditsaleasacashsale,thefigureonthedebitsideofthetrialbalanceisright.3、ProvisionofDepreciationistheestimatedexpiredcostforthecurrentperiod.4、Ifthecontingentliabi
3、litiesareprobableandtheamountoftheliabilitiescanbereasonablyestimated,thefactsofthecontingencyshouldbedisclosed.5^Primecostsincludedirectmaterialscosts,directlaborcostsandindirectmanufacturingcosts•6、Abankreconciliationstatementispreparedtoanalyzethedifferencesbe
4、tweentheendingcashbalanceonthebankstatementandtheendingcashbalanceinthefirm1saccountingrecords.Question2Readthefollowingstatements/questionsandchoosethecorrectanswersbywritingthealphabeticalletterontheanswersheets・7^Ifretainedearningswereunderstatedandliabilities
5、wereoverstated,whichofthefollowingerrorscouldhavebeenthecause?torecordinterestaccruedonanotepayable.tomaketheadjustingentrytorecordrevenuewhichhadbeenyetbilledtoclients.torecordtheearnedportionoffeesreceivedinadvance.a.Makingtheadjustmententryfordepreciationexpen
6、sestwice.b•Failurec•Failureearnedbutnotd.Failure8、Theselecteddatapertaintoacompanyat31Decernber2003asthefollowingQuickAssets$208,000Quickratio2・6to1Currentratio3.5to1Netsalesfor2003Costofgoodsoldfor2003Averagetotalassetsfor2003Thecompany1sinventorybalancea.$72,00
7、0.b•$186,990.c.$1,800,000$990,000$1,200,000at31December2003is：231,111.d.$68,000.9、Anaccruedexpensecanbestbedescribedasanamounta・paidandcurrentlymatchedwithearnings.b.paidandnotcurrentlymatchedwithearnings・c.notpaidbutcurrentlymatchedwithearnings.d・Noneoftheabove•
8、10>Mr.Wongpaid$3,000inadvanceforinsuranceon1December2001anddebitedittoInsuranceExpense.Noentriesweremadesubsequentlyin2001orin2002.TheaccountingperiodendsonDec
