会计学原理英文版一单元习题解读

132. On June 30 of the current year, the assets and liabilities of Phoenix, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300. What is the amount of owner's equity as of June 30 of the current year? A. $8,300 B. $13,050 C. $20,500 D. $31,100 E. $40,400

133. Assets created by selling goods and services on credit are: A. Accounts payable. B. Accounts receivable. C. Liabilities. D. Expenses. E. Equity.

134. An exchange of value between two entities is called: A. The accounting equation.

B. Recordkeeping or bookkeeping. C. An external transaction. D. An asset. E. Net Income.

135. Photometer Company paid off $30,000 of its accounts payable in cash. What would be the effects of this transaction on the accounting equation?

A. Assets, $30,000 increase; liabilities, no effect; equity, $30,000 increase. B. Assets, $30,000 decrease; liabilities, $30,000 decrease; equity, no effect. C. Assets, $30,000 decrease; liabilities, $30,000 increase; equity, no effect. D. Assets, no effect; liabilities, $30,000 decrease; equity, $30,000 increase. E. Assets, $30,000 decrease; liabilities, no effect; equity $30,000 decrease.

136. How would the accounting equation of Boston Company be affected by the billing of a client for $10,000 of consulting work completed?

A. +$10,000 accounts receivable, -$10,000 accounts payable. B. +$10,000 accounts receivable, +$10,000 accounts payable. C. +$10,000 accounts receivable, +$10,000 cash. D. +$10,000 accounts receivable, +$10,000 revenue. E. +$10,000 accounts receivable, -$10,000 revenue.

137. Zion Company has assets of $600,000, liabilities of $250,000, and equity of

$350,000. It buys office equipment on credit for $75,000. What would be the effects of this transaction on the accounting equation?

A. Assets increase by $75,000 and expenses increase by $75,000. B. Assets increase by $75,000 and expenses decrease by $75,000. C. Liabilities increase by $75,000 and expenses decrease by $75,000. D. Assets decrease by $75,000 and expenses decrease by $75,000. E. Assets increase by $75,000 and liabilities increase by $75,000.

138. Viscount Company collected $42,000 cash on its accounts receivable. The effects of this transaction as reflected in the accounting equation are: A. Total assets decrease and equity increases. B. Both total assets and total liabilities decrease.

C. Total assets, total liabilities, and equity are unchanged.

D. Both total assets and equity are unchanged and liabilities increase. E. Total assets increase and equity decreases.

139. If the liabilities of a business increased $75,000 during a period of time and the owner's equity in the business decreased $30,000 during the same period, the assets of the business must have: A. Decreased $105,000. B. Decreased $45,000. C. Increased $30,000. D. Increased $45,000. E. Increased $105,000.

140. If the assets of a business increased $89,000 during a period of time and its

liabilities increased $67,000 during the same period, equity in the business must have: A. Increased $22,000. B. Decreased $22,000. C. Increased $89,000. D. Decreased $156,000. E. Increased $156,000.

141. If the liabilities of a company increased $74,000 during a period of time and equity in the company decreased $19,000 during the same period, what was the effect on the assets?

A. Assets would have increased $55,000. B. Assets would have decreased $55,000. C. Assets would have increased $19,000. D. Assets would have decreased $19,000. E. None of these.

142. If a company paid $38,000 of its accounts payable in cash, what was the effect on the assets, liabilities, and equity?

A. Assets would decrease $38,000, liabilities would decrease $38,000, and equity would decrease $38,000.

B. Assets would decrease $38,000, liabilities would decrease $38,000, and equity would increase $38,000.

C. Assets would decrease $38,000, liabilities would decrease $38,000, and equity would not change.

D. There would be no effect on the accounts because the accounts are affected by the same amount. E. None of these.

143. If assets are $365,000 and equity is $120,000, then liabilities are: A. $120,000. B. $245,000. C. $365,000. D. $485,000. E. $610,000.

144. Reston had income of $150 million and average invested assets of $1,800 million. Its return on assets is: A. 8.3%. B. 83.3%. C. 12%. D. 120%. E. 16.7%

145. Nick’s had income of $350 million and average invested assets of $2,000 million. Its ROA is: A. 1.8%. B. 35%. C. 17.5%. D. 5.7%. E. 3.5%.

146. FastLane has net income of $18,955, and assets at the beginning of the year of $200,000. Assets at the end of the year total $246,000. Compute its return on assets. A. 7.7%. B. 8.5%. C. 9.5%. D. 11.8%. E. 13.0%.

147. Harris Co. has a net income of $43,000, assets at the beginning of the year are $250,000 and assets at the end of the year are $300,000. Compute its return on assets. A. 8.4% B. 17.2% C. 14.3% D. 15.6% E. 1.5%

148. U. S. government bonds are:

A. High-risk and high-return investments. B. Low-risk and low-return investments. C. High-risk and low-return investments. D. Low-risk and high-return investments. E. High risk and no-return investments.

149. Risk is:

A. Net income divided by average total assets. B. The reward for investment.

C. The uncertainty about the expected return to be earned. D. Unrelated to expected return.

E. Derived from the idea of getting something back from an investment. 150. The statement of cash flows reports all of the following except: A. Cash flows from operating activities. B. Cash flows from investing activities. C. Cash flows from financing activities.

D. The net increase or decrease in assets for the period reported. E. The net increase or decrease in cash for the period reported.

151. The basic financial statements include all of the following except: A. Balance Sheet. B. Income Statement.

C. Statement of Owner's Equity. D. Statement of Cash Flows. E. Trial Balance.

152. The statement of owner's equity:

A. Reports how equity changes at a point in time. B. Reports how equity changes over a period of time.

C. Reports on cash flows for operating, financing, and investing activities over a period of time.

D. Reports on cash flows for operating, financing, and investing activities at a point in time.

E. Reports on amounts for assets, liabilities, and equity at a point in time.

153. The financial statement that reports whether the business earned a profit and also lists the revenues and expenses is called the: A. Balance sheet.

B. Statement of owner's equity. C. Statement of cash flows. D. Income statement.

E. Statement of financial position. 154. A balance sheet lists:

A. The types and amounts of the revenues and expenses of a business.

B. Only the information about what happened to equity during a time period.

C. The types and amounts of assets, liabilities, and equity of a business as of a specific date.

D. The inflows and outflows of cash during the period.

E. The assets and liabilities of a company but not the owner's equity.

联系客服:779662525#qq.com(#替换为@) 苏ICP备20003344号-4