基础会计_Ch003练习题.pdf

1-1 ? The McGraw-Hill Companies, Inc., 2007McGraw-Hill/Irwin Chapter 3 Exercise :Adjusting Accounts and Preparing Financial Statements ? The McGraw-Hill Companies, Inc., 2007McGraw-Hill/Irwin Exercise 3-1 Classifying adjusting entries In the blank space beside each adjusting entry, enter the letter of the explanation A through F that most closely describes the entry. A. To record this period’s depreciation expense. B. To record accrued salaries expense. C. To record this period’s use of a prepaid expense. D. To record accrued interest revenue. E. To record accrued interest expense. F. To record the earning of previously unearned income. 1-2 ? The McGraw-Hill Companies, Inc., 2007McGraw-Hill/Irwin ? The McGraw-Hill Companies, Inc., 2007McGraw-Hill/Irwin 1-3 ? The McGraw-Hill Companies, Inc., 2007McGraw-Hill/Irwin Exercise 3-1 (10 minutes) 1. E 4. D 2. C 5. A 3. F 6. B ? The McGraw-Hill Companies, Inc., 2007McGraw-Hill/Irwin Exercise 3-2 Preparing adjusting entries . Prepare adjusting journal entries for the year ended (date of) December 31, 2008, for each of these separate situations. Assume that prepaid expenses are initially recorded in asset accounts. Also assume that fees collected in advance of work are initially recorded as liabilities. 1-4 ? The McGraw-Hill Companies, Inc., 2007McGraw-Hill/Irwin a. Depreciation on the company’s equipment for 2008 is computed to be $18,000. b. The Prepaid Insurance account had a $6,000 debit balance at December 31, 2008, before adjusting for the costs of any expired coverage. An analysis of the company’s insurance policies showed that $1,100 of unexpired insurance coverage remains. ? The McGraw-Hill Companies, Inc., 2007McGraw-Hill/Irwin c. The Office Supplies account had a $700 debit balance on December 31, 2007; and $3,480 of office supplies was purchased during the year. The December 31, 2008, physical count showed $298 of supplies available. d. Two-thirds of the work related to $15,000