答案和详解如下： 1.Allowance for bad debts and investment in affiliates are most likely to be shown as what types of accounts?
| Allowance for bad debts
| Investment in affiliates
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A) Contra-asset Liabilities B) Contra-asset Asset C) Liabilities Asset D) Liabilities Liabilities The correct answer was B) Allowance for bad debts is a contra-asset account to accounts receivable. Investments in affiliates are considered assets. 2.Accumulated depreciation and treasury stock are most likely to be shown as what types of accounts?
| Accumulated depreciation
| Treasury stock
|
A) Contra-asset Equity B) Contra-asset Contra-equity C) Liability Equity D) Liability Contra-equity The correct answer was B) Accumulated depreciation is a contra-asset account to the asset account property, plant & equipment. Treasury stock is a contra-equity account to common stock or additional paid-in capital. 3.A company’s chart of accounts is: A) a detailed list of the accounts that make up the five financial statement elements. B) used for entries that offset other accounts. C) a set of items that will show up on future income statements as expenses. D) the set of journal entries that makes up the components of owners’ equity. The correct answer was A) A company’s chart of accounts is a detailed list of the accounts that make up the five financial statement elements and the line items presented in the financial statements. Contra accounts are used for entries that offset other accounts. Prepaid expenses are items that will show up on future income statements as expenses. The categories that make up owners’ equity are capital, additional paid-in capital, retained earnings and other comprehensive income. | 
发表于 2008-4-8 14:19
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