会计学原理（英）章节测试课后答案2024春

第四章测试

1.Closing entries are required: （ ）
A:Only if the company adheres to the accrual method of accounting. B:If management has decided to cease operating the business. C:If the temporary accounts are to reflect correct amounts for each accounting period. D:If a company's bookkeeper does not choose to prepare reversing entries.
答案:C
2.K. Canopy, the proprietor of Canopy Services, withdrew $5,700 from the business during the current year. The entry to close the withdrawals account at the end of the year is:（ ）
A:Debit K Canopy, Withdrawals $5,700; credit Cash, $5,700 B:Debit K Canopy, Capital $5,700, credit Salary Expense $5,700 C:Debit K Canopy, Capital $5,700; credit K Canopy, Withdrawals $5,700 D:Debit Income Summary $5,700; credit K Canopy, Capital $5,700 3.Tara Westmont, the proprietor of Tiptoe Shoes, had annual revenues of $185,000, expenses of$103,700, and withdrew $18,000 from the business during the current year. The owner's capital account before closing had a balance of $297,000. The Net Income for the year is:（ ）
A:C. $360,300 B:B. $63,300 C:D. $81,300 D:$185,000 4.The F. Mercury, Capital account has a credit balance of $37,000 before closing entries are made. Total revenues for the period are $55,200, total expenses are $39,800, and withdrawals are $9,000. What is the correct closing entry for the revenue accounts? （ ）
A:Debit Revenue accounts $37,000; credit F Mercury, Capital $37,000 B:Debit Revenue accounts $55,200; credit F Mercury, Capital $37,000 C:Debit Income Summary $55,200; credit Revenue accounts $55,200 D:Debit Revenue accounts $55,200; credit Income Summary $55,200 5.At the beginning of the year, a company's balance sheet reported the following balances: Total Assets = $225,000; Total Liabilities = $125,000; and Owner's Capital = $100,000. During the year, the company reported revenues of $46,000 and expenses of $30,000. In addition, owner's withdrawals for the year totaled $20,000. Assuming no other changes to owner's capital, the balance in the owner's capital account at the end of the year would be: （ ）
A:$104,000. B:$116,000. C:$96,000. D:$136,000.