《中级财务会计》期中考试试题.doc

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1、091学期《中级财务会计》期中考试试卷考试时刻：3.5小时QuestionOne(13points)Listedbelowareseveralinformationcharacteristicsandaccountingprinciplesandassumptions.Matchtheletterofeachwiththeappropriatephrasethatstatesitsapplication.(Itemsathroughkmaybeusedmorethanonceornotatall.)a.Econo

2、micentityassumptiong.Matchingprincipleb.Goingconcernassumptionh.Fulldisclosureprinciplec.Monetaryunitassumptioni.Relevancecharacteristicd.Periodicityassumptionj.Reliabilitycharacteristice.Historicalcostprinciplek.Consistencycharacteristicf.Revenuerecognitionp

3、rinciple-17-/171.Stable-dollarassumption(donotusehistoricalcostprinciple).2.Earningprocesscompletedandrealizedorrealizable.3.Presentationoferror-freeinformationwithrepresentationalfaithfulness.4.Yearlyfinancialreports.5.Accrualsanddeferralsinadjustingandclosi

4、ngprocess.(Donotusegoingconcern.)6.Usefulstandardmeasuringunitforbusinesstransactions.7.Notesaspartofnecessaryinformationtoafairpresentation.8.Affairsofthebusinessdistinguishedfromthoseofitsowners.9.Businessenterpriseassumedtohavealonglife.10.Valuingassetsata

5、mountsoriginallypaidforthem.11.Applicationofthesameaccountingprinciplesasintheprecedingyear.12.Summarizingsignificantaccountingpolicies.-17-/1713.Presentationoftimelyinformationwithpredictiveandfeedbackvalue.QuestionTwo(6points)Thetrialbalancebeforeadjustment

6、ofPrattCompanyreportsthefollowingbalances:Dr.Cr.Accountsreceivable$100,000Allowancefordoubtfulaccounts$2,500Sales(alloncredit)750,000Salesreturnsandallowances40,000Required:(a)Preparetheentriesforestimatedbaddebtsassumingthatdoubtfulaccountsareestimatedtobe(1

7、)6%ofgrossaccountsreceivableand(2)1%ofnetsales.(b)Assumethatalltheinformationaboveisthesame,exceptthattheAllowanceforDoubtfulAccountshasadebitbalance-17-/17of$2,500insteadofacreditbalance.Preparethejournalentrytorecordthebaddebtexpense?QuestionThree(9points)T

8、hefollowingtrialbalancewastakenfromthebooksofFiskCorporationonDecember31,2007.AccountDebitCreditCash$12,000AccountsReceivable40,000NoteReceivable7,000AllowanceforDoubtfulAccounts$1,800Mer