hhfa7ech08tif with CompchWord格式.docx
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hhfa7ech08tif with CompchWord格式.docx
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2EOC:
8.1-3Thepurchaseofmerchandiseinventoryfrequentlyresultsinaliability.
E8-17
8.1-4ThepresenceofanUnearnedRevenueaccountonacompany'
sbalancesheetindicatesthatthecompanyreceivedcashfromcustomerspriortoprovidinggoodsandservices.
1EOC:
E8-21
8.1-5Whenrecordinginterestaccruedonveryshort-termnotes,theinterestcanbeaddedtotheNotesPayableaccount.
E8-23
8.1-6Anaccruedexpenseisanexpenseincurredinthecurrentperiodthatwillbepaidinafutureperiod.
8.1-7Salestaxpayableisanestimatedliabilityarisingoutofsalesrevenuethathasbeenreportedontheincomestatement.
E8-18
8.1-8Theamountoflong-termdebtthatmustbepaidinthecurrentperiodaffectsthecurrentratio.
8.1-9Warrantyexpenseisrecognizedinthesameperiodthatthesalesrevenueisrecognizedbecauseoftheconservatismprinciple.
E8-16
8.1-10Acontingentliabilityisanestimatedliability,withthedollaramountoftheliabilitydependentonafutureeventarisingoutofapasttransaction.
E8-22
8.1-11Acontingentliabilitythathasaremotechanceofoccurrenceshouldbedisclosedinthefinancialstatementfootnotes.
8.1-12Acontingentliabilitythathasaprobablechanceofoccurrenceshouldbedisclosedinthefinancialstatementfootnotes.
8.1-13Contingentgainsarereportedontheincomestatement.
8.1-14Currentliabilitiesareobligationsduewithin:
A.onemonthorwithinthecompany'
snormaloperatingcycleifitislongerthanonemonth.
B.oneyearorwithinthecompany'
snormaloperatingcycleifitislongerthanoneyear.
C.oneyearorwithinthecompany'
snormaloperatingcycleifitisshorterthanoneyear.
D.onemonthorwithinthecompany'
snormaloperatingcycleifitisshorterthanonemonth.
BLO:
8.1-15Failuretorecordanaccruedliabilitycausesacompanyto:
A.understateliabilities.
B.understateowners'
equity.
C.overstateexpenses.
D.overstateassets.
ALO:
2EOC:
8.1-16Acompanyfailedtorecognizeanaccruedliability.Asaresult,:
A.thecurrentratioisunderstatedbecausethedenominatorisoverstated.
B.thecurrentratioisunderstatedbecausethedenominatorisunderstated.
C.thecurrentratioisoverstatedbecausethedenominatorisunderstated.
D.thecurrentratioisoverstatedbecausethedenominatorisoverstated.
CLO:
8.1-17Whichofthefollowingareoverstatedasaresultofthefailuretorecordanaccruedliability?
A.Netincome,currentratio,andrateofreturnondebt
B.Currentratio,acid-testratio,andrateofreturnondebt
C.Netincome,acid-testratio,andrateofreturnondebt
D.Netincome,currentratio,andacidtestratio
DLO:
8.1-18Warrantyexpenseshouldberecordedintheperiod:
A.theproductispaidforbythecustomer.
B.immediatelyfollowingtheperiodinwhichtheproductissold.
C.theproductsoldisrepairedorreplaced.
D.theproductissold.
8.1-19Monthlysaleswere$150,000.Warrantycostsareestimatedat5%ofmonthlysales.Inthemonthofsale,thecompanyshouldrecordadebitto:
A.WarrantyPayablefor$7,500.
B.WarrantyExpensefor$7,500.
C.Salesfor$7,500.
D.noneoftheaccounts.Noentryisrequiredsincetheactualliabilityamountisnotknown.
8.1-20Jaye'
sCompanypaid$750cashtoreplaceapartonequipmentsoldunderwarranty.Torecognizethepayment,whichofthefollowingarecorrect?
A.DebitWarrantyPayableandcreditCash
B.DebitWarrantyExpenseandcreditCash
C.DebitEquipmentExpenseandcreditCash
D.DebitPartsExpenseandcreditCash
8.1-21ThebeginningbalanceintheWarrantyPayableaccountwas$50,000.Saleswere$900,000andwarrantycostswereestimatedat7%ofsales.Duringtheyear,$55,000waspaidtosettlewarrantyclaims.Asaresultofthesetransactions,whatistheamountofwarrantyexpensefortheyearandwhatistheendingbalanceinWarrantyPayable?
WarrantyExpenseWarrantyPayable
A.$50,000$63,000
B.$63,000$58,000
C.$55,000$63,000
D.$113,000$58,000
8.1-22OnDecember12,theG.BakerCorporationpurchases$13,000ofequipmentbyissuinga30-day,9%notepayable.TheamountofaccruedinterestonDecember31is:
A.$63.
B.$65.
C.$70.
D.$75.
E8-19
8.1-23OnDecember12,theG.BakerCorporationpurchases$13,000ofequipmentbyissuinga30-day,9%notepayable.Thetotalcashpaidforinterestatmaturityofthenoteis:
A.$70.
B.$97.50.
C.$1,300.
D.$13,000.
8.1-24OnDecember12,theG.BakerCorporationpurchases$13,000ofequipmentbyissuinga30-day,9%notepayable.Thetotalcashpaidonthematuritydateofthenoteis:
A.$13,000.
B.$13,065.
C.$13,097.50.
D.$13,750.
CLO:
8.1-25Thejournalentrytorecordaccruedinterestonashort-termnotepayablemustincludeadebitto:
A.InterestExpenseandacredittoNotesPayable.
B.InterestExpenseandacredittoInterestPayable.
C.InterestPayableandacredittoInterestExpense.
D.InterestPayableandacredittoNotesPayable.
8.1-26Currentliabilitiesfallintotwocategorieswhicharereferredtoas:
A.liabilitiesofaknownamountandestimatedliabilities.
B.contingentliabilitiesandnoncontingentliabilities.
C.contingentliabilitiesandcontra-liabilities.
D.unearnedliabilitiesandaccruedliabilities.
8.1-27SpeedosalescreditsallamountsreceivedfromcustomerstoitsSalesaccount.Themonthlyreceiptswere$773,000.Thisamountincludeda7%statesalestax.Theamountofthesalestaxpayabletothisstateis:
A.$50,570.
B.$54,110.
C.$63,250.
D.$71,242.
P8-54A
8.1-28Short-termnotespayableare:
A.generallyduewithinthreemonths,withamaximumtimeperiodofsixmonths.
B.shownasareductiontonotesreceivableonthebalancesheet,withanappropriatefootnotedisclosure.
C.shownonthebalancesheetafterbondspayable.
D.shownonthebalancesheetwithcurrentliabilities.
8.1-29Whichentrycouldbeusedtorecordsalestax?
A.DebitSalesTaxPayable,creditSalesTaxExpense
B.DebitSatesTaxExpense,creditSales
C.DebitCash,creditSalesTaxPayable
D.DebitSalesTaxExpense,creditSalesTaxPayable
8.1-30DavisCompany'
ssalesforMarch19were$31,900.Davisisrequiredtocollecta7%statesalestax.Thetotalcashreceivedfromcustomerswas:
A.$2,233.
B.$21,289.
C.$31,223.
D.$34,133.
8.1-31TheSalaryExpenseaccountisdebitedfor:
A.payrolltaxliabilitiesonly.
B.grosspayonly.
C.grosspayplusemployeepayrollliabilities.
D.grosspayminusemployeepayrollliabilities.
8.1-32Whichofthefollowingaccountsrepresentsadeferredrevenue?
i.InterestRevenue
ii.IncomeTaxPayable
iii.UnearnedSubscriptionRevenue
A.ionly
B.iionly
C.iiionly
D.bothiiandiii
8.1-33ComputingMagazinereceives$100inadvancefromacustomerfora2yearsubscription.ComputingMagazine'
sentrytorecordthistransactionwouldincludea:
A.debittoSubscriptionRevenuefor$100.
B.credittoSubscriptionRevenuefor$100.
C.debittoUnearnedSubscriptionRevenuefor$100.
D.credittoUnearnedSubscriptionRevenuefor$100.
8.1-34KosovoCompanyhas$45millioninlong-termdebt,payableinannualinstallmentsof$15million.Howmuchofthedebtshouldbereportedascurrentandaslong-termliabilities?
CurrentLiabilitiesLong-TermLiabilities
A.$0$45million
B.$7.5million$40million
C.$15million$30million
D.$45million$0
P8-55A
8.1-35Potentialliabilitiesthatdependonfutureeventsarisingoutofpasteventsarecalled:
A.actualliabilities.
B.contingentliabilities.
C.estimatedliabilities.
D.long-termliabilities.
8.1-36Acompanyhasacontingentlossthatcanbeestimatedandhasaprobablechanceofoccurrence.WhatreportingdoestheFASBrequireregardingthiscontingency?
AItshouldbeaccruedandreportedonthefinancialstatementsandr
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