会计学原理英文版一单元习题解读

155. A financial statement providing information that helps users understand a

company's financial status, and which lists the types and amounts of assets, liabilities, and equity as of a specific date, is called a(n): A. Balance sheet. B. Income statement.

C. Statement of cash flows. D. Statement of owner's equity. E. Financial Status Statement.

156. The financial statement that identifies where a company's cash came from and where it went during the period is the: A. Statement of financial position. B. Statement of cash flows. C. Balance sheet. D. Income statement.

E. Statement of changes in owner's equity.

157. The financial statement that shows the beginning balance of owner's equity; the changes in equity that resulted from new investments by the owner, net income (or net loss); withdrawals; and the ending balance, is the: A. Statement of financial position. B. Statement of cash flows. C. Balance sheet. D. Income statement.

E. Statement of owner's equity.

158. Cash investments by owners are listed on which of the following statements? A. Balance sheet. B. Income statement.

C. Statement of owner's equity only. D. Statement of cash flows only.

E. Statement of owner's equity and statement of cash flows.

159. Accounts payable appear on which of the following statements? A. Balance sheet. B. Income statement.

C. Statement of owner's equity. D. Statement of cash flows. E. Transaction statement.

160. The income statement reports all of the following except: A. Revenues earned by a business. B. Expenses incurred by a business. C. Assets owned by a business.

D. Net income or loss earned by a business.

E. The time period over which the earnings occurred.

161. Use the following information as of December 31 to determine equity.

Liabilities……………… $141,000 Cash…………………… 57,000 Equipment…………….. 206,000 Buildings........................ 175,000 A. $57,000. B. $141,000. C. $297,000. D. $438,000. E. $579,000.

162. Determine the net income of a company for which the following information is available for the month of May. Employee salaries expense.... $180,000 Interest expense.................... 10,000 Rent expense........................ 20,000 Consulting revenue............... 400,000

A. $190,000. B. $210,000. C. $230,000. D. $400,000. E. $610,000.

163. A company acquires equipment for $75,000 cash. This represents a(n): A. Operating activity. B. Investing activity. C. Financing activity. D. Revenue activity. E. Expense activity.

164. A company borrows $125,000 from the Eastside Bank and receives the loan proceeds in cash. This represents a(n): A. Revenue activity. B. Operating activity. C. Expense activity. D. Investing activity. E. Financing activity.

165. Flash had cash inflows from operations $62,500; cash outflows from investing activities of $47,000; and cash inflows from financing of $25,000. The net change in cash was:

A. $40,500 increase. B. $40,500 decrease. C. $134,500 decrease. D. $134,000 increase. E. $9,500 increase.

166. Flash has beginning equity of $257,000, net income of $51,000, withdrawals of $40,000 and investments by owners of $6,000. Its ending equity is: A. $223,000. B. $240,000. C. $268,000. D. $274,000. E. $208,000.

167. Rent expense that is paid with cash appears on which of the following statements? A. Balance sheet. B. Income statement.

C. Statement of owner's equity.

D. Income statement and statement of cash flows. E. Statement of cash flows only.

168. A company's balance sheet shows: cash $22,000, accounts receivable $16,000, office equipment $50,000, and accounts payable $17,000. What is the amount of owner's equity? A. $17,000. B. $29,000. C. $71,000. D. $88,000. E. $105,000.

169. A company reported total equity of $145,000 at the beginning of the year. The company reported $210,000 in revenues and $165,000 in expenses for the year. Liabilities at the end of the year totaled $92,000. What are the total assets of the company at the end of the year? A. $45,000. B. $92,000. C. $98,000. D. $210,000. E. $282,000.

170. Flash reported net income of $17,500 for the past year. At the beginning of the year the company had $200,000 in assets and $50,000 in liabilities. By the end of the year, assets had increased to $300,000 and liabilities were $75,000. Calculate its return on assets: A. 8.8% B. 7.0% C. 5.8% D. 35.0% E. 23.3%

171. Quick Computer Service had revenues of $80,000 and expenses of $50,000 for the year. Its assets at the beginning of the year were $400,000. At the end of the year assets were worth $450,000. Calculate its return on assets. A. 7.1% B. 7.5% C. 6.7% D. 20.0% E. 18.8%

172. Della's Donuts had cash inflows from operating activities of $27,000; cash outflows from investing activities of $22,000, and cash outflows from financing activities of $12,000. Calculate the net increase or decrease in cash. A. $61,000 increase. B. $37,000 increase. C. $7,000 decrease. D. $7,000 increase. E. $34,000 decrease.