会计学原版第一章作业.docVIP

会计学原版 第一章 作业 1、Identify the following users as either external users E or internal users I . a. Customers d. Business press g. Shareholders j. FBI and IRS b. Suppliers e. Managers h. Lenders k. Consumer group c. Brokers f. District attorney i. Controllers l. Sales staff 2、Identify which general accounting principle best describes each of the following practices. a. In December 2006, Chavez Landscaping received a customer’s order and cash prepayment to install sod at a new house that would not be ready for installation until March 2007. Chavez should record the revenue from the customer order in March 2007, not in December 2006. b. If $51,000 cash is paid to buy land, the land is reported on the buyer’s balance sheet at $51,000. c. Jo Keene owns both Sailing Passions and Dockside Supplies. In preparing financial statements for Dockside Supplies, Keene makes sure that the expense transactions of Sailing Passions are kept separate from Dockside’s statements 3、Many accounting professionals work in one of the following three areas. A. Financial accounting B. Managerial accounting C. Tax accounting Identify the area of accounting that is most involved in each of the following responsibilities. 1. Internal auditing. 5. Investigating violations of tax laws. 2. External auditing. 6. Planning transactions to minimize taxes. 3. Cost accounting. 7. Preparing external financial statements. 4. Budgeting. 8. Reviewing reports for SEC compliance 4、Provide an example of a transaction that creates the described effects for the separate cases a through g. a. Decreases an asset and decreases equity. b. Increases an asset and increases a liability. c. Decreases a liability and increases a liability. d. Decreases an asset and decreases a liability e. Increases an asset and decreases an asset. f. Increases a liability and decreases equity. g. Increases an asset and increases equity. 5、Leora Holden began a professional practice on June 1 and plans to prepare fina