会原期中复习题题选.doc

会 原 期 中 复 习 题 Part I. Multiple Choice External users of financial accounting information include all of the following except: Investors Labor unions Line managers General public 2. A trial balance has total debits of $20,000 and total credits of $24,500. Which one of the following errors would create this imbalance? A. A $2,250 debit to Rent Expense in a journal entry is incorrectly posted to the ledger as a $2,250 credit, leaving the Rent Expense account with a $3,000 debit balance. B. A $4,500 debit to Salaries Expense in a journal entry is incorrectly posted to the ledger as a $4,500 credit, leaving the Salaries Expense account with a $750 debit balance. C. A $2,250 credit to Consulting Fees Earned in a journal entry is incorrectly posted to the ledger as a $2,250 debit, leaving the Consulting Fees Earned account with a $6,300 credit balance. 3. Amalia Company received its utility bill for the current period of $700 and immediately paid it. Its journal entry to record this transaction includes a a. Credit to Utility Expense for $700. b. Debit to Utility Expense for $700. c. Debit to Accounts Payable for $700. d. Debit to Cash for $700. e. Credit to Capital for $700. 4. Overland purchased $3,000 of merchandise from Overseas. The credit terms were 2/10, n/30. The freight terms were FOB shipping point. Freight costs of $60 were included in the invoice. What journal entry should Overland record, assuming Overland uses a perpetual inventory system? Merchandise Inventory, debit, $3,000; delivery expense, debit, $60; Accounts Payable, credit, $3,060 Merchandise Inventory, debit, $3,000; Accounts Payable, credit, $3,000 Merchandise Inventory, debit, $2,940; Accounts Payable, credit, $2,940 Merchandise Inventory, debit, $3,060; and Accounts Payable, credit, $3,060. 5. A company’s ending inventory includes the following items: Product Units on Hand Unit Cost Market value per unit A