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中国地质大学（北京）继续教育学院 2016年05课程考试
C. owner’s equity decreases D. liabilities decrease
8．Casey Electronics’ ending inventory consists of 182 Model M43 CD players acquired through various purchases, as follows:
Specific Purchase Beginning inventory First purchase Second purchase Third purchase Total available Of the 514 units available for sale, 182 units are still on hand and 332 have been sold.
Under the periodic inventory system, If Casey Electronics chooses FIFO method, how should it calculate the cost of the 182 CD players on hand?
9．On July 1, Cruz opened Cruz Auto Detail company .
During July, the following transactions were completed:
（1）Cruz invests $70,000 cash in her new business. （2）Buys equipment costing $43,000, paying cash.
（3）Buys equipment costing $7,000 on credit from Williams Auto Supply.
（4）Pays $2,000 to Williams Auto Supply, to be applied against the firm's liability of $7,000.
（5）Buys buffer pads, cleaners, and waxes on account from Rossi and Company, $800. （6）Cash revenue received, $3,520.
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Number of Units 34 Cost per Unit $270 Total Cost $9180 60 256 164 282 298 312 16,920 76,288 51,168 $153,556 units 514 中国地质大学（北京）继续教育学院 2016年05课程考试
（7）Pays rent for the month, $900.
（8）Pays for a one-year vehicle insurance policy, $360.
（9）Receives bill for newspaper advertising from Valley News, $400.
（10）Cruz Auto Detail signed a contract with Costello Taxi to perform detailing work and then bills Costello Taxi $1,050 for services performed. （11）Pays $2,000 to Williams Auto Supply as part payment on account. （12）Receives and pays bill for utilities from Midwest Power, Inc., $160. （13）Pays Valley News for advertising, $400 in full. (This bill has been previously recorded.)
（14）Pays wages of part-time employees, $1,400.
（15）Buys additional equipment costing $1,500 from Williams Auto Supply, paying $600 down with the remaining $900 on account.
（16）Receives $850 from Costello Taxi to apply on account previously billed. （17）Cash revenue received, $2,700.
（18）Cruz withdraws cash for personal use, $3,000.
Instructions
（1）Record the transactions with “Dr.”and “Cr.”.
（2）At the end of June Company needs make adjustment as follows: a. To record the cost of supplies used during July, $540. b. To record the insurance expired during July, $30. c. To record the depreciation for the month of July, $520. d. To record accrued waged owed at the end of July, $290. Prepare Adjusted Trail Balance on July 31.
Cruz Auto Detail Adjusted Trail Balance
July 31, 20--
Account Name Debit Credit 第6页（共15页）
中国地质大学（北京）继续教育学院 2016年05课程考试
Cash Account Received Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Wages Payable LA Cruz Capital LA Cruz Drawing Income from Servicing Wages Expense Rent Expense Advertising Expense Utilities Expense Supplies Expense Insurance Expense Depreciation Expense, Equipment
10. On July 1, N. B. Edgar opened Coin-Op Laundry. Edgar’s accountant listed the following chart of accounts:
Cash Supplies Prepaid Insurance Equipment Furniture and Fixtures Accounts Payable N. B. Edgar, Capital N. B. Edgar, Drawing Laundry Revenue Wages Expense
Rent Expense Utilities Expense Miscellaneous Expense
During July, the following transactions were completed:
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中国地质大学（北京）继续教育学院 2016年05课程考试
a. Edgar deposited $20,000 in a bank account in the name of the business. b. Bought tables and chairs for cash, $450 c. Paid the rent for the current month, $705
d. Bought washers and dryers from Eldon Equipment, $17,400, paying $4,000 in
cash and placing the balance on account.
e. Bought laundry supplies on account from Borkal Distributors, $410. f. Sold services for cash, $862. g. Bought insurance for one year, $468.
h. Paid on account to Eldon Equipment, a creditor, $550. i. Received and paid the electric bill, $118.
j. Paid on account to Borkal Distributors, a creditor, $145.
k. Sold services to customers for cash for the second half of the month, $881. l. Received and paid the bill for the business license, $45. m. Paid wages to an employee, $1,146.
n. Edgar withdrew cash for personal use, $875.
Instructions
Record the transactions in the T accounts. Prepare an income statement as for July 31.
1．Complete the translation between Chinese and English: （1）残值 （2）折旧 （3）比率分析法 （4）owner’s equity （5）会计年度
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