chapter02课堂测试题及答案.doc

Chapter 02 一、 ABC corporation’s fiscal year ends December 31.The following information refers to the whole transactions about ABC during 2013: 1.17 Sold merchandise to B Company for $200,000, and B was given a 20% trade discount. The terms of sale were 2/10, n/30. ABC Corporation use Gross Method. 1.26 B paid the money in full. 4.15 Sold inventory to C Company with price $400,000. And received a interest-bearing note with 8% interest rate, and the payment was due on Jan.15, 2014. 5.8 Accounts receivable of $25,000 were written off with allowance method. 7.15 Discounted the $400,000 note at a Bank, with discount rate 12 %. 9.22 Sold merchandise in credit to D Company for $150,000, and the cost is 90,000. The debit balance of accounts receivable was 300,000 in the beginning of 2013. Allowance for uncollectible accounts had credit balance of 30,000 the beginning of the year, and ABC corporation estimated bad debt percentage 8% of accounts receivable in the end of 2013. Required: Prepare the journal entry for each transaction. (b) Prepare the year-end adjusting entry for bad debt expense. 1.17 Accounts recicevable 160,000 Sales revenue 160,000 1.26 Cash 156800 Sales discount 3200 Acounts recicevable 160,000 4.15 Note recicevable 400,000 Sales revenue 400,000 5.8 Allowance for uncollectible account 25,000 Acounts recicevable 25,000 7.15 Interest recicevable 8,000 Interest revenue 8,000 Cash 398560 Loss on sale of note recicevable 9440 Note recicevable 400,000 Interest recicevable 8,000 9.22 Accounts recicevable 150,000 Sales revenue 150,000 Cost of goods sold 90,000 Inventory 90,000 425,000*8%=34000 34，000+25,000-30,000=29,000 Bad debt expense 29,000 Allowance for uncolle