課程名稱︰會計學甲一上
課程性質︰經濟系大一必帶系訂選修
課程教師︰滝西敦子
開課學院：社會科學院
開課系所︰經濟系
考試日期（年月日）︰2019/11/8
考試時限（分鐘）：180
試題 :
Part 1 Multiple choices (3% * 12)
1. A basic assumption of accounting that requires activities of an entity be
kept separate from the activities of its owner is referred to as the...
A. stand alone concept
B. monetary unit assumption
C. corporate form of ownership
D. economic entity assumption
2. During the year 2020, Diego Company earned revenues of $180,000, had
expenses of $100,000, purchased assets with a cost of $20,000 and paid
dividends of $12,000. Net income for the year is...
A. $180,000
B. $80,000
C. $68,000
D. $60,000
3. During 2020, its first year of operations, Yaspo's Bakery had revenues of
$200,000 and expenses of $110,000. The business paid dividends of $60,000.
What is the amount of retained earnings at December 31, 2020?
A. $0
B. $60,000 debit
C. $30,000 credit
D. $90,000 credit
4. Which of the following is incorrect regarding a trial balance?
A. It proves that the debits equal the credits after posting
B. It proves that the company has recorded all transactions
C. A trial balance uncovers errors in journalizing and posting
D. A trial balance is useful in the preparation of financial statement
5. The matching principle matches?
A. customers with businesses
B. expenses with revenues
C. assets with liabilities
D. revenues with expenses
6. Which of the following errors will prevent the trial balance from balancing?
A. A transaction is not journalized
B. Transposition error related to the statement of financial position
C. A journal entry is posted twice
D. A journal entry to purchase $100 worth of equipment is posted as a
$1,000 purchase
7. Cara, Inc. purchased supplies costing €7,500 on January 1, 2020 and
recorded the transaction by debiting an expense. At the end of the year
€3,000 of the supplies are still on hand. If Cara, Inc. does not make the
appropriate adjusting entry, what is the impact on its statement of
financial position at December 31, 2020?
A. Assets understated by €4,500
B. Equity understated by €4,500
C. Equity overstated by €3,000
D. Assets understated by €3,000
8. Adjusting entries...
A. ...ensure that the revenue recognition and expense recognition
principles are followed
B. ...are necessary to enable the financial statements to conform to
International Financial Reporting Standards(IFRS).
C. ...include both accruals and deferrals.
D. all of these answer choices are correct.
9. Which of the following account does not appear in the Statement of
Financial Position?
A. Retained Earnings
B. Unearned Revenues
C. Dividends
D. Share Capital-Ordinary
10. If a company utilizes reversing entries, they will...
A. be made at the beginning of the next accounting period.
B. not actually be posted tot he general ledger accounts.
C. be made before the post-closing trial balance.
D. be part of the adjusting entry process.
11. Income Summary has a credit balance of $12,000 in J. Wenger Co. after
closing revenues and expenses. The entry to close Income Summary is?
A. credit Income Summary $12,000, debit Retained Earnings $12,000.
B. credit Income Summary $12,000, debit Dividends $12,000.
C. debit Income Summary $12,000, credit Dividends $12,000.
D. debit Income Summary $12,000, credit Retained Earning $12,000.
12. Which of the following statement is true regarding the recording process?
A. Because IFRS rely more on fair value and less on historical cost than
U.S. GAAP the double-entry accounting system is not widely used by
companies who use IFRS.
B. Both IFRS and U.S GAAP, use the same general rules of debits and credits
and the steps in the recording process.
C. A trial balance using IFRS is organized by first showing the accounts
from the statement of financial position followed by accounts from the
income statement; a trial balance using U.S GAAP is organized using the
opposite order.
D. All of the choices are correct regarding the recording process.
Part 2 Calculations (5% * 4)
Using the following information, answer question 13-14:
At the beginning of the year, Keats Company had total assets of $750,000
and total liabilities of $250,000. Answer the following questions viewing
each situation as being independent of the others.
13. If total assets increased $200,000 during the year, and total liabilities
decreased $75,000, what is the amount of equity at the end of the year?
14. During the year, total liabilities increased $230,000 and equity decreased
$90,000. What is the amount of total assets at the end of the year?
Using the following information, answer question 15:
The adjusted trial balance of Hanson Hawk Corporation at September 30, 2020
includes the following accounts: Retained Earning €27,700;
Dividends €9,750; Sales Revenue €44,800; Insurance Expense €1,950;
Salaries and Wages Expense €18,000; Rent Expense €3,000;
Supplies Expense €650; and Depreciation Expense €1,100.
15. Determine the amount of Retained Earning.
Using the following information, answer question 16:
At April 1, 2020, Rhodes Company reported a balance of $22,000 in the
Retained Earning account. Rhodes Company earned revenues of $50,000 and
incurred expenses of $35,000 during April 2020. The company paid dividends
of $10,000 during the month.
16. What is the balance in Retained Earnings on the April 30, 2020
post-closing trial balance?
Part 3 Journal Entries (12%)
Requirement:
Use the following format when preparing the journal entries.
Date ｜ Debit Account XXX
｜ Credit ACCOUNT XXX
Trench and Gog Garment Company purchased equipment on June 1 for $108,000,
paying $24,000 cash and signing a 6%, 2-month note for the remaining
balance. The equipment is depreciated $24,000 each year, Trench and Fog
Garment Company prepares monthly financial statements.
17. Prepare adjusting journal entries that should be made on June 30.
Part 4 Worksheet and Statement (22% + 6% + 4%)
The worksheet for Boone Mailing Center appears on the answer sheet,
Using the adjustment data below, complete the worksheet. Add necessary
account. For the deferrals, use the regular treatment instead of using
the alternative treatment introduced in the appendix.
Adjustment date:
(a) Prepaid rent expired during August, $2.
(b) Depreciation expense on equipment for the month of August, $8.
(c) Supplies on hand on August 31 amounted to $4.
(d) Salaries and wages expense incurred at August 31 but not yet
paid amounted to $12.
18. Using the above information, complete the worksheet on the answer sheet
for Boone Mailing Center August 31, 2020.
19. Complete the retained earnings statement of Boone Mailing Center for the
month ended August 31, 2020.
20. Prepare the journal entry on August 31, 2020, to properly close the
revenue account.