USCPA英文会計学院の「英文会計無料講座」が役に立つ人

1. 初めて英文会計を学習する人
2. 英文会計の実務が知りたい人
3. 英文会計の中上級の知識が得たい人
4. USCPA（米国公認会計士）のため、英文会計の学習をしている人
5. ACCA（英国勅許公認会計士）の学習をしている人・しようと考えている人
6. 仕事などで、英語で会計を理解する必要がある人
7. 英語が得意で、会計の知識を身につけてキャリアアップしたい人

英文会計入門講座＜第１回＞で学んだこと

1. 会計（Accounting）とは？
2. 財務諸表（Financial Statements：FS）の種類とそれぞれの目的ー３つ
3. 貸借対照表（Balance Sheet：BS）の構成要素ー３つ
4. 損益計算書（Profit and Loss Statement：PL）の構成要素ー２つ
5. 貸借対照表（Balance Sheet：BS）等式
6. 損益計算書（Profit and Loss Statement：PL）等式

1. 備品（Office Equipment）　　　　　　　　　　（　　　　　）
2. 買掛金（Accounts Payable： AP）　　　　　　 （　　　　　）
3. 貸付金（Loan Receivables）　　　　　　　　　（　　　　　）
4. 建物（Building）　　　　　　　　　　　　　　 （　　　　　）
5. 現金（Cash）　　　　　　                             （　　　　　）
6. 受取手数料（Handling Charge Revenue）　  　（　　　　　）
7. 資本金（Capital Stock）　　　　　　              （　　　　　）
8. 売掛金（Accounts Receivable： AR）             （　　　　　）
9. 銀行預金（Cash in Bank）                              (　　　　　）
10. 車両運搬具（Automobile）                            （　　　　　）
11. 給料（Salary/Wages）                                 （　　　　　）
12. 借入金（Loan Payables）　　                        （　　　　　）

1. 備品（Office Equipment）　　　　　　　　　　（　　A　　）
2. 買掛金（Accounts Payable： AP）　　　　　　 （　　L　　）
3. 貸付金（Loan Receivables）　　　　　　　　　（　　A　　）
4. 建物（Building）　　　　　　　　　　　　　　 （　　A　　）
5. 現金（Cash）　　　　　　                             （　　A　　）
6. 受取手数料（Handling Charge Revenue）　  　（　　X　　）
7. 資本金（Capital Stock）　　　　　　              （　　S　　）
8. 売掛金（Accounts Receivable： AR）             （　　A　　）
9. 銀行預金（Cash in Bank）                              (　　A　　）
10. 車両運搬具（Automobile）                            （　　A　　）
11. 給料（Salary/Wages）                                 （　　X　　）
12. 借入金（Loan Payables）　　                        （　　L　　）

• 備品（Office Equipment）　　300,000円
• 現金（Cash）　　　　　　　　500,000円
• 借入金（Loan Payables）　　  200,000円

1. 資産（Assets）総額　　　　　 　　　 （　　　　   ）円
2. 負債（Liabilities）総額　　　　　　　 （　　　　　）円
3. 資本（Shareholders’ Equity）総額　　（　　　　　）円

• 現金（Cash）　　　　　　　　 　　　   300,000円
• 買掛金（Accounts Payable： AP）　  　300,000円
• 貸付金（Loan Receivables） 　       　  200,000円
• 売掛金（Accounts Receivable： AR） 　500,000円
• 借入金（Loan Payables）                  　100,000円
• 商品（Merchandise）　　　　　　　   　400,000円

1. 資産（Assets）総額　　　　　 　　　 （　　　　   ）円
2. 負債（Liabilities）総額　　　　　　　 （　　　　　）円
3. 資本（Shareholders’ Equity）総額　　（　　　　　）円

• 備品（Office Equipment）　　300,000円　Ａ
• 現金（Cash）　　　　　　　　500,000円　Ａ
• 借入金（Loan Payables）　　  200,000円　L

1. 資産（Assets）総額　　　　　 　　　 （　800,000  ）円
2. 負債（Liabilities）総額　　　　　　　 （　200,000　）円
3. 資本（Shareholders’ Equity）総額　　（　600,000　）円  　①－②

• 現金（Cash）　　　　　　　　 　　　   300,000円 　  Ａ
• 買掛金（Accounts Payable： AP）　  　300,000円　　Ｌ
• 貸付金（Loan Receivables） 　       　  200,000円　　Ａ
• 売掛金（Accounts Receivable： AR） 　500,000円　　A
• 借入金（Loan Payables）                  　100,000円   　L
• 商品（Merchandise）　　　　　　　   　400,000円  　Ａ

1. 資産（Assets）総額　　　　　 　　　 （　1,400,000  ）円
2. 負債（Liabilities）総額　　　　　　　 （　　400,000  ）円
3. 資本（Shareholders’ Equity）総額　　（　1,000,000  ）円　　　①－②

1. 受取手数料（Handling Charge Revenue）　　　(                )
2. 雑費（Miscellaneous Expense）                      (                )
3. 支払家賃（Rent Expense）                             (                )
4. 受取利息（Interest Income）                          (                )
5. 広告料（Advertisement Expense）                  (                )
6. 受取家賃（Rent Revenue）                             (                )
7. 資本金（Capital Stock）                                 (                )
8. 売掛金（Accounts Receivable： AR）               (                )
9. 支払利息（Interest Expenses）                       (                )
10. 車両運搬具（Automobile）                              (                )
11. 給料（Salary）                                              (                )
12. 売上（Sales）                                               (                )

1. 受取手数料（Handling Charge Revenue）　　　(    　Ｒ       )
2. 雑費（Miscellaneous Expense）                      (       Ｅ　    )
3. 支払家賃（Rent Expense）                             (        E       )
4. 受取利息（Interest Income）                          (       R      )
5. 広告料（Advertisement Expense）                  (       E       )
6. 受取家賃（Rent Revenue）                             (       R       )
7. 資本金（Capital Stock）                                 (       X       )   S
8. 売掛金（Accounts Receivable： AR）               (       X       )   A
9. 支払利息（Interest Expenses）                       (        E       )
10. 車両運搬具（Automobile）                              (       X       )   A
11. 給料（Salary）                                              (       E       )
12. 売上（Sales）                                               (        R      )

• 売上（Sales）　　                       　670,000円
• 給料（Salary）　　                         280,000円
• 雑費（Miscellaneous Expense）　　    20,000円

1. 収益（Revenue）総額　　　　　（　　　　   ）円
2. 費用（Expense）総額　　　　　 （　　　　　）円
3. 純損益 総額　　                        （　　　　　）円

• 売上（Sales）　　                       　　　　　　 250,000円
• 受取手数料（Handling Charge Revenue）　　  　30,000円
• 給料（Salary）　　　　　　　　　　　　　　     200,000円
• 支払家賃（Rent Expense）　　　　　　　　　　  50,000円
• 水道光熱費（Utilities）　　　　　　　　　　　　  30,000円
• 雑費（Miscellaneous Expense）　　　　　　　　 20,000円

1. 収益（Revenue）総額　　　　　       　　（　　　　   ）円
2. 費用（Expense）総額　　　　　　　       （　　　　　）円
3. 純損益 総額　　                                    （　　　　　）円

• 売上（Sales）　　                       　670,000円    R
• 給料（Salary）　　                         280,000円    E
• 雑費（Miscellaneous Expense）　　    20,000円   E

1. 収益（Revenue）総額　　　　　（　　670,000　  ）円
2. 費用（Expense）総額　　　　　 （　　300,000 　 ）円
3. 純損益 総額　　                        （　＋370,000  　）円  ①－②

• 売上（Sales）　　                       　　　　　　 250,000円　R
• 受取手数料（Handling Charge Revenue）　　  　30,000円　R
• 給料（Salary）　　　　　　　　　　　　　　     200,000円　E
• 支払家賃（Rent Expense）　　　　　　　　　　  50,000円　E
• 水道光熱費（Utilities）　　　　　　　　　　　　  30,000円　E
• 雑費（Miscellaneous Expense）　　　　　　　　 20,000円　E

1. 収益（Revenue）総額　　　　　       　　（　　280,000   ）円
2. 費用（Expense）総額　　　　　　　       （　　300,000　）円
3. 純損益 総額　　                                    （　  －20,000  ）円   ①－②

The basic purpose of accounting is to:

1. provide financial information about an economic entity.
2. develop the types of information best-suited to specific managerial decisions.
3. record the financial transactions of an economic entity.
4. determine the taxable income of individuals and business entities.

The basic purpose of accounting is to:

1. provide financial information about an economic entity.
2. develop the types of information best-suited to specific managerial decisions.
3. record the financial transactions of an economic entity.
4. determine the taxable income of individuals and business entities.

The accounting equation is

1. Assets = Liabilities ＋ Capital
2. Assets = Liabilities × Capital
3. Assets + Liabilities = Capital
4. Assets ÷ Liabilities = Capital

The accounting equation is

1. Assets = Liabilities ＋ Capital
2. Assets = Liabilities × Capital
3. Assets + Liabilities = Capital
4. Assets ÷ Liabilities = Capital

A balance sheet is designed to show:

1. how much a business is worth.
2. the profitability of the business during the current year.
3. the assets, liabilities, and stockholders’ equity in the business at the particular date.
4. the cost of replacing the assets and of paying off the liabilities at December 31.

A balance sheet is designed to show:

1. how much a business is worth.
2. the profitability of the business during the current year.
3. the assets, liabilities, and stockholders’ equity in the business at the particular date.
4. the cost of replacing the assets and of paying off the liabilities at December 31.

During the current year, the assets of A company increase by 73,000,000 yen and the liabilities increase by 39,000,000 yen. As a result, shareholders’ equity:

1. increases by 34,000,000 yen during the year.
2. decreases by 39,000,000 yen during the year.
3. decreases by 34,000,000 yen during the year.
4. is 34,000,000 at the end of the year.

During the current year, the assets of A company increase by 73,000,000 yen and the liabilities increase by 39,000,000 yen. As a result, shareholders’ equity:

1. increases by 34,000,000 yen during the year.
2. decreases by 39,000,000 yen during the year.
3. decreases by 34,000,000 yen during the year.
4. is 34,000,000 at the end of the year.

The general purpose financial statements prepared annually by a corporation would not include the:

1. Balance Sheet.
2. Income Tax Return.
3. Income Statement.
4. Statement of Cash flows.

The general purpose financial statements prepared annually by a corporation would not include the:

1. Balance Sheet.
2. Income Tax Return.
3. Income Statement.
4. Statement of Cash flows.

Mr. A began his practice investing in the business 500,000 yen in cash, 300,000 worth of supplies and equipment valued at 1,000,000 yen and a 500,000 note payable for the equipment. The capital of the business is:

1. 500,000 yen
2. 2,300,000 yen
3. 1,300,000 yen
4. 1,800,000 yen

Mr. A began his practice investing in the business 500,000 yen in cash, 300,000 worth of supplies and equipment valued at 1,000,000 yen and a 500,000 note payable for the equipment. The capital of the business is:

1. 500,000 yen
2. 2,300,000 yen
3. 1,300,000 yen
4. 1,800,000 yen

Among the following users of the financial statements issued by the business entity, who is the owner of the business entity?

1. Analyst
2. Shareholder
3. Employer
4. Creditor

Among the following users of the financial statements issued by the business entity, who is the owner of the business entity?

1. Analyst（アナリスト）
2. Shareholder（株主）
3. Employer（雇用主）
4. Creditor（債権者）

Which of the following is most likely shown in the profit and loss statement?

1. Operating Results
2. Financial Position
3. Cashflow Status
4. Economic Resources

Which of the following is most likely shown in the profit and loss statement?

1. Operating Results（経営成績）
2. Financial Position（財務状態）
3. Cashflow Status（お金の動き）
4. Economic Resources（経済的原資）

A balance sheet is designed to show the financial position of an entity:

1. at a single point in time.
2. over a period of time such as a year or quarter.
3. at December 31 of the current year.
4. at January 1 of the coming year.

A balance sheet is designed to show the financial position of an entity:

1. at a single point in time.
2. over a period of time such as a year or quarter.
3. at December 31 of the current year.
4. at January 1 of the coming year.

Which of the following is not usually included in the title of the financial statements?

1. Name of the president
2. Name of the company
3. Name of the financial statements
4. Date

Which of the following is not usually included in the title of the financial statements?

1. Name of the president
2. Name of the company
3. Name of the financial statements
4. Date

USCPA英文会計学院の「英文会計無料講座」が役に立つ人

1. 初めて英文会計を学習する人
2. 英文会計の実務が知りたい人
3. 英文会計の中上級の知識が得たい人
4. USCPA（米国公認会計士）のため、英文会計の学習をしている人
5. ACCA（英国勅許公認会計士）の学習をしている人・しようと考えている人
6. 仕事などで、英語で会計を理解する必要がある人
7. 英語が得意で、会計の知識を身につけてキャリアアップしたい人

英文会計入門講座＜第2回＞で学んだこと

1. 簿記（Bookkeeping）上の取引（Transaction）
2. 勘定科目（Account）
3. 仕訳（Journal Entry）の作成ー3つのステップ
4. 元帳（Ledger）への転記（Posting）
5. 残高試算表（Trial Balance：TB）の作成
6. 精算表（Work Sheet）の作成
7. 損益計算書（Profit and Loss Statement： PL）
8. 貸借対照表（Balance Sheet： BS）

1. A社から商品（Merchandise）の注文があった。　  （　　　　　）
2. B社から商品（Merchandise）を掛けで仕入れた。  （　　　　　）
3. 商品（Merchandise）が盗難にあった。　　　　　 （　　　　　）
4. 車両を1カ月20,000円で借りる契約を結んだ。　　 （　　　　　）
5. 備品30,000円を購入し、代金は月末払いとした。   （　　　　　）
6. 事務用品3,000円を現金（Cash）で購入した。 　   （　　　　　）

1. A社から商品（Merchandise）の注文があった。　  （　　×　　）
2. B社から商品（Merchandise）をかけで仕入れた。  （　　〇　　）
3. 商品（Merchandise）が盗難にあった。　　　　　 （　　〇　　）
4. 車両を1カ月20,000円で借りる契約を結んだ。　　 （　　×　　）
5. 備品30,000円を購入し、代金は月末払いとした。   （　　〇　　）
6. 事務用品3,000円を現金（Cash）で購入した。 　   （　　〇　　）

Which of the following transaction is not recorded in the accounting book?

1. Purchase of the merchandise
2. Payment of the director’s remuneration
3. Enter into equipment leasing contract
4. Borrow money from bank

Which of the following transaction is not recorded in the accounting book?

1. Purchase of the merchandise
2. Payment of the director’s remuneration
3. Enter into equipment leasing contract
4. Borrow money from bank

• 借入金（Loan Payable）
• 資本金（Capital Stock）
• 現金（Cash）
• 支払利息（Interest Expense）
• 買掛金（Accounts Payable： AP）
• 売掛金（Accounts Receivable： AR）
• 給料（Salary）
• 受取手数料（Handling Charge Revenue）

1. 株主（Shareholder）から現金（Cash） 100,000円の元入れを受けた。
2. 現金（Cash）20,000円を銀行から借り入れた。
3. 給与（Salary）2,500円を現金（Cash）で支払った。
4. 商品売買の仲介手数料1,800円を現金で受け取った。
5. 借入金10,000円と利息100円をあわせて、現金（Cash）で銀行に返済した。

• 現金（Cash）
• 借入金（Loan Payable）
• 資本金（Capital Stock）
• 買掛金（Accounts Payable： AP）
• 売掛金（Accounts Receivable： AR）
• 給料（Salary）
• 受取手数料（Handling Charge Revenue）

1. 株主（Shareholder）から現金（Cash） 100,000円の元入れを受けた。
2. 現金（Cash）2,000円を銀行から借り入れた。
3. 給与（Salary）2,500円を現金（Cash）で支払った。
4. 商品売買の仲介手数料1,800円を現金で受け取った。

 

1. Dr） Cash 100,000   Cr） Capital Stock 100,000
2. Dr） Cash 2,000       Cr） Loan Payable 2,000
3. Dr） Salary 2,500     Cr） Cash　2,500
4. Dr） Cash 1,800 　   Cr） Handling Charge Revenue 1,800

1. increase an asset, increase a liability
2. increase an asset, increase capital
3. decrease an asset, increase capital
4. increase an asset, decrease a liability

1. increase an asset, increase a liability
2. increase an asset, increase capital
3. decrease an asset, increase capital
4. increase an asset, decrease a liability

1. Debit Cash, Credit Employee
2. Debit Cash, Credit Salaries Expense
3. Debit Salaries Expense, Credit Cash
4. Debit Employee, Credit Cash

1. Debit Cash, Credit Employee
2. Debit Cash, Credit Salaries Expense
3. Debit Salaries Expense, Credit Cash
4. Debit Employee, Credit Cash

Dr）

Cr）

Dr） Insurance 100,000

Cr）Cash 100,000

Dr）

Cr）

Dr）Cash 500

　Cr）Interest Income 500

1. Invested 900,000 yen cash as capital.
2. Bought 500,000 yen worth of office furniture on account.
3. Received 150,000 yen as interest income.
4. Paid 800,000 yen for office equipment by cash.
5. Paid salaries of 6,000 yen by cash.

1. Invested 900,000 yen cash as capital.
2. Bought 500,000 yen worth of office furniture on account.
3. Received 150,000 yen as interest income.
4. Paid 800,000 yen for office equipment by cash.
5. Paid salaries of 6,000 yen by cash.

 

1. Dr）Cash 900,000  　　　Cr）Capital Stock 900,000
2. Dr）Furniture 500,000  　Cr）Payable-Other 500,000
3. Dr）Cash 150,000 　　　 Cr）Interest Income 150,000
4. Dr）Equipment 800,000　Cr）Cash 800,000
5. Dr）Salary 6,000　          Cr）Cash 6,000

1. Invested 300,000 yen in business.
2. Purchased supplies on account for 24,500 yen.
3. Received 180,000 yen cash for services.
4. Withdrew 40,000 yen for the personal use.
5. Paid wages 300,000 yen.

1. Invested 300,000 yen in business.
2. Purchased supplies on account for 24,500 yen.
3. Received 180,000 yen cash for services.
4. Withdrew 40,000 yen for the personal use.
5. Paid wages 300,000 yen.

 

1. Dr）Cash 300,000　　　 　　   Cr）Capital Stock 300,000
2. Dr）Supplies 24,500 　　　　   Cr）Other Payable 24,500
3. Dr）Cash 180,000　　　　　 　 Cr）Service Revenue 180,000
4. Dr）Director, Personal 40,000 　Cr）Cash 40,000
5. Dr）Paid Wages 300,000           Cr）Cash 300,000

1. Sold merchandise on account.
2. Shareholder invested and sent money to A company’s bank account.
3. Bought table and 6 chairs for the meeting room.
4. Purchased pens and papers at the News Agency in cash.
5. Bought 2nd shop in the downtown and wire-transferred the money from the company’s bank account.
6. Paid shop assistant’s monthly salary.
7. Bought sales representative’s car for his sales activity.
8. Paid TV ad production fee in cash.
9. Paid office rent to landlord.
10. Interest on loan was automatically withdrawn from the company’s bank account.

1. Sold merchandise on account.
2. Shareholder invested and sent money to A company’s bank account.
3. Bought 2nd shop in the downtown and wire-transferred the money from the company’s bank account.
4. Paid shop assistant’s monthly salary.
5. Bought sales representative’s car for his sales activity.
6. Paid TV ad production fee in cash.
7. Paid office rent to landlord.
8. Interest on loan was automatically withdrawn from the company’s bank account.

 

1. Account Receivable, Sales
2. Cash in bank, Capital
3. Building, Cash in bank
4. Salary, Cash
5. Automobile, Cash
6. Advertisement Expense, Cash
7. Rent Expense, Cash
8. Interest Expense, Cash in bank

Which of the following is provided by a trial balance in which total debits equal total credits？

1. Proof that no transaction was completely omitted from the ledger during the posting process.
2. Proof that the correct debit or credit balance has been computed for each account.
3. Proof that the ledger is in balance.
4. Proof that transactions have been correctly analyzed and recorded in the proper accounts.

Which of the following is provided by a trial balance in which total debits equal total credits？

1. Proof that no transaction was completely omitted from the ledger during the posting process.
2. Proof that the correct debit or credit balance has been computed for each account.
3. Proof that the ledger is in balance.
4. Proof that transactions have been correctly analyzed and recorded in the proper accounts.

USCPA英文会計学院の「英文会計無料講座」が役に立つ人

1. 初めて英文会計を学習する人
2. 英文会計の実務が知りたい人
3. 英文会計の中上級の知識が得たい人
4. USCPA（米国公認会計士）のため、英文会計の学習をしている人
5. ACCA（英国勅許公認会計士）の学習をしている人・しようと考えている人
6. 仕事などで、英語で会計を理解する必要がある人
7. 英語が得意で、会計の知識を身につけてキャリアアップしたい人

英文会計入門講座＜第3回＞で学んだこと

1. 信用取引（On account）
2. 仕入（Purchase）の場合の仕訳（Journal Entry）と元帳（Ledger）への転記（Posting）
3. 補助元帳（Ledger）
4. 売上（Sales）の場合の仕訳（Journal Entry）と元帳（Ledger）への転記（Posting）
5. 売上返品（Sales Return）および 売上割引（Sales Discount）の処理

• A社より商品（Merchandise）5,600,000円を仕入れ（Purchase）、代金は掛けとした。
• B社より商品（Merchandise）2,400,000円を仕入（Purchase）、代金のうち900,000円は現金（Cash）で支払い、残額は掛けとした。
• C社へ商品（Merchandise）を売上（Sales）、代金3,200,000円は掛けとした。
• B社より仕入れた商品（Merchandise）につき、50,000円の値引きを受け、買掛金（Accounts Payable：AP）と相殺した。
• C社への売上（Sales）のうち200,000円は、商品（Merchandise）が違っていたため、キャンセルとなった。
• D社に商品（Merchandise）4,300,000円を売り、2,500,000円は現金（Cash）で受取り、残額は掛けとした。
• D社に売上げた商品（Merchandise）について、30,000円の値引きを行い、売掛金（Accounts Receivable：AR）と相殺した。
• A社に対して買掛金（Accounts Payable：AP）のうち、3,000,000円を現金（Cash）で支払った。
• C社から売掛金（Accounts Receivable：AR）1,500,000円を現金（Cash）で回収した。

• A社より商品（Merchandise）5,600,000円を仕入れ（Purchase）、代金は掛けとした。

Dr）Purchase 5,600,000 

　　Cr）Accounts Payable 5,600,000

 

• B社より商品（Merchandise）2,400,000円を仕入（Purchase）、代金のうち900,000円は現金（Cash）で支払い、残額は掛けとした。

Dr）Purchase 2,400,000 

　Cr）Cash 900,000

Accounts Payable 1,500,000

 

• C社へ商品（Merchandise）を売上（Sales）、代金3,200,000円は掛けとした。

Dr）Accounts Receivable 3,200,000

　Cr）Sales 3,200,000

 

• B社より仕入れた商品（Merchandise）につき、50,000円の値引きを受け、買掛金（Accounts Payable：AP）と相殺（Offset）した。

Dr）Accounts Payable 50,000

　Cr）Purchase 50,000

 

• C社への売上（Sales）のうち200,000円は、商品（Merchandise）が違っていたため、キャンセルとなった。

Dr）Sales　200,000

　Cr）Accounts Receivable 200,000

 

• D社に商品（Merchandise）4,300,000円を売り、2,500,000円は現金（Cash）で受取り、残額は掛けとした。

Dr）Cash　2,500,000

 　　Accounts Receivable 1,800,000

　Cr）Sales　4,300,000

 

• D社に売上げた商品（Merchandise）について、30,000円の値引きを行い、売掛金（Accounts Receivable：AR）と相殺（Offset）した。

Dr）Sales 30,000

 Cr）Accounts Receivable 30,000

 

• A社に対して買掛金（Accounts Payable：AP）のうち、3,000,000円を現金（Cash）で支払った。

Dr）Accounts Payable 3,000,000

 Cr）Cash 3,000,000

 

• C社から売掛金（Accounts Receivable：AR）1,500,000円を現金（Cash）で回収した。

Dr）Cash 1,500,000

 Cr）Accounts Receivable 1,500,000

• Bought merchandise on account 80,000 yen.
• Sold merchandise on account 100,000 yen.
• Paid cash on account 50,000 yen.
• Received cash on account 60,000 yen.

• Bought merchandise on account 80,000 yen.

Dr）Purchase 80,000

　Cr）Accounts Payable 80,000

 

• Sold merchandise on account 100,000 yen.

Dr）Accounts Receivable 100,000

　Cr）Sales 100,000

 

• Paid cash on account 50,000 yen.

Dr）Accounts Payable 50,000

　Cr）Cash 50,000

 

• Received cash on account 60,000 yen.

Dr）Cash 60,000

　Cr）Accounts Receivable 60,000

A company has 350,000 yen accounts receivable from B company. On February 5, B company makes a partial payment of 210,000 yen to A company. The journal entry made on February 5 by A Company to record this transaction includes:

1. A debit to the Cash Received account of 210,000 yen
2. A credit to the Accounts Receivable account of 210,000 yen
3. A debit to the Cash account of 140,000 yen
4. A debit to the Accounts Receivable account of 140,000 yen

A company has 350,000 yen accounts receivable from B company. On February 5, B company makes a partial payment of 210,000 yen to A company. The journal entry made on February 5 by A Company to record this transaction includes:

1. A debit to the Cash Received account of 210,000 yen
2. A credit to the Accounts Receivable account of 210,000 yen
3. A debit to the Cash account of 140,000 yen
4. A debit to the Accounts Receivable account of 140,000 yen

A company sold goods on account. Indicate the correct journal entry.

1. Debit Sales, Credit Cash
2. Debit Cash, Credit Sales
3. Debit Sales, Credit Accounts Receivable
4. Debit Accounts Receivable, Credit Sales

A company sold goods on account. Indicate the correct journal entry.

1. Debit Sales, Credit Cash
2. Debit Cash, Credit Sales
3. Debit Sales, Credit Accounts Receivable
4. Debit Accounts Receivable, Credit Sales

On February 5, A company sold goods for 100,000 yen with discount, terms of 2%, 10 days. If the purchase pays on February 8, how much should he/she pay?

1. 100,000 yen
2. 980,000 yen
3. 998,000 yen
4. 2,000 yen

On February 5, A company sold goods for 100,000 yen with discount, terms of 2%, 10 days. If the purchase pays on February 8, how much should he/she pay?

1. 100,000 yen
2. 980,000 yen
3. 998,000 yen
4. 2,000 yen

A company returned merchandise in the amount of 5,000 yen sold on account. Which of the following journal entries should the seller record in connection with this transaction？ The seller adopted sales returns account for the returned goods.

1. Dr）Sales 5,000　Cr）Cash 5,000
2. Dr）Sales Returns 5,000　Cr）Cash 5,000
3. Dr）Accounts Receivable 5,000　Cr）Sales Returns 5,000
4. Dr）Sales Returns 5,000　 Cr）Accounts Receivable 5,000

A company returned merchandise in the amount of 5,000 yen sold on account. Which of the following journal entries should the seller record in connection with this transaction？ The seller adopted sales returns account for the returned goods.

1. Dr）Sales 5,000　Cr）Cash 5,000
2. Dr）Sales Returns 5,000　Cr）Cash 5,000
3. Dr）Accounts Receivable 5,000　Cr）Sales Returns 5,000
4. Dr）Sales Returns 5,000　Cr）Accounts Receivable 5,000

USCPA英文会計学院の「英文会計無料講座」が役に立つ人

1. 初めて英文会計を学習する人
2. 英文会計の実務が知りたい人
3. 英文会計の中上級の知識が得たい人
4. USCPA（米国公認会計士）のため、英文会計の学習をしている人
5. ACCA（英国勅許公認会計士）の学習をしている人・しようと考えている人
6. 仕事などで、英語で会計を理解する必要がある人
7. 英語が得意で、会計の知識を身につけてキャリアアップしたい人

英文会計入門講座＜第4回＞で学んだこと

1. 棚卸資産（Inventory）vs 固定資産（Fixed Assets）
2. 棚卸資産（Inventory）の取得原価（Acquisition Cost）
3. 売上原価（Cost of Goods Sold：CGS）の計算
4. 売上原価（Cost of Goods Sold：CGS）の仕訳（Journal Entry）
5. 期末棚卸資産（Ending Inventory）の評価方法 ー４つ

A Company bought merchandises for cash. Indicate the correct journal entry under periodic inventory system （the quantity of inventory on hand was determined periodically）.

1. Debit Merchandise, Credit Cash
2. Debit Cash, Credit Purchases
3. Debit Purchases, Credit Cash
4. Debit Cash, Credit Merchandises

A Company bought merchandises for cash. Indicate the correct journal entry under periodic inventory system （the quantity of inventory on hand was determined periodically）.

1. Debit Merchandise, Credit Cash
2. Debit Cash, Credit Purchases
3. Debit Purchases, Credit Cash
4. Debit Cash, Credit Merchandises

The following information pertains to A Company’s operation for the year 2021:

• Merchandise purchased for resale： 350,000 yen
• Freight-in：12,000 yen
• Freight-out：6,000 yen

A Company’s inventoriable cost for 2021 was

1. 350,000 yen
2. 356,000 yen
3. 362,000 yen
4. 368,000 yen

The following information pertains to A Company’s operation for the year 2021:

• Merchandise purchased for resale： 350,000 yen
• Freight-in：12,000 yen
• Freight-out：6,000 yen

A Company’s inventoriable cost for 2021 was

1. 350,000 yen
2. 356,000 yen
3. 362,000 yen
4. 368,000 yen

Which of the following items should most likely be measured by specific identification method as inventory valuation?

1. Oil
2. Diamond
3. Ore
4. Retail goods

Which of the following items should most likely be measured by specific identification method as inventory valuation?

1. Oil
2. Diamond
3. Ore
4. Retail goods

Which of the following inventory valuation methods is correct when ending inventory is closest to its current market value?

1. Specific Identification
2. First-in First-out
3. Last-in First-out
4. Weighted Average

Which of the following inventory valuation methods is correct when ending inventory is closest to its current market value?

1. Specific Identification
2. First-in First-out
3. Last-in First-out
4. Weighted Average

Company’s cars used by sales representatives for sales activity are classified as

1. Inventory
2. Long-term Investment
3. Fixed Assets
4. Current Liability

Company’s cars used by sales representatives for sales activity are classified as

1. Inventory
2. Long-term Investment
3. Fixed Assets
4. Current Liability

During the fiscal year, A Company purchased inventory of 2,000,000 yen. The beginning inventory was 300,000 yen and the ending inventory was 200,000 yen. What was the cost of goods sold in this fiscal year?

1. 1,800,000 yen
2. 1,900,000 yen
3. 2,000,000 yen
4. 2,100,000 yen

During the fiscal year, A Company purchased inventory of 2,000,000 yen. The beginning inventory was 300,000 yen and the ending inventory was 200,000 yen. What was the cost of goods sold in this fiscal year?

1. 1,800,000 yen
2. 1,900,000 yen
3. 2,000,000 yen
4. 2,100,000 yen

A Company imports products from U.S. and sells them to Japanese customers. Following information is for the year 2021, calculate the Cost of Goods Sold（CGS）.

• Purchase：120,000 yen
• Beginning Inventory：30,000 yen
• Freight-in：2,000 yen
• Freight-out：8,000 yen
• Custom duty when imported the merchandise：1,000 yen
• Purchase Returns：4,000 yen
• Sales Returns：7,000 yen
• Ending Inventory：40,000 yen

A Company imports products from U.S. and sells them to Japanese customers. Following information is for the year 2021, calculate the Cost of Goods Sold（CGS）.

• Purchase：120,000 yen
• Beginning Inventory：30,000 yen
• Freight-in：2,000 yen
• Freight-out：8,000 yen
• Custom duty when imported the merchandise：1,000 yen
• Purchase Returns：4,000 yen
• Sales Returns：7,000 yen
• Ending Inventory：40,000 yen

USCPA英文会計学院の「英文会計無料講座」が役に立つ人

1. 初めて英文会計を学習する人
2. 英文会計の実務が知りたい人
3. 英文会計の中上級の知識が得たい人
4. USCPA（米国公認会計士）のため、英文会計の学習をしている人
5. ACCA（英国勅許公認会計士）の学習をしている人・しようと考えている人
6. 仕事などで、英語で会計を理解する必要がある人
7. 英語が得意で、会計の知識を身につけてキャリアアップしたい人

英文会計入門講座＜第5回＞で学んだこと

1. 未収金 vs 売掛金（Accounts Receivable：AR）
2. 未払金 vs 買掛金（Accounts Payable：AP）
3. 費用（Expense）・収益（Revenue）の見越し（Accrual）
4. 費用（Expense）・収益（Revenue）の繰延べ（Deferral）

Which of the following is an asset account?

1. Rent Expense
2. Prepaid Rent
3. Rent Revenue
4. Unearned Rent

Which of the following is an asset account?

1. Rent Expense
2. Prepaid Rent
3. Rent Revenue
4. Unearned Rent

Under the accrual basis accounting, sales should be recognized at the point of

1. Receiving an order
2. Delivering goods
3. Receiving cash
4. Completing warranty period of the product

Under the accrual basis accounting, sales should be recognized at the point of

1. Receiving an order
2. Delivering goods
3. Receiving cash
4. Completing warranty period of the product

Service fees are received in advance. These are for services to be rendered over the next 3 years. When should be the received fee reported as revenue？

1. In the period when the fee received
2. In the period when the services are performed
3. At the date the service started
4. At the date the service ended

Service fees are received in advance. These are for services to be rendered over the next 3 years. When should be the received fee reported as revenue？

1. In the period when the fee received
2. In the period when the services are performed
3. At the date the service started
4. At the date the service ended

On November 1, 2021, A Company paid 360,000 yen in premium for 3-years insurance policy. What amount should be reported for insurance expense in the December 31, 2021 fiscal year end of the company？

1. 360,000 yen
2. 20,000 yen
3. 0 yen
4. None of the above

On November 1, 2021, A Company paid 360,000 yen in premium for 3-years insurance policy. What amount should be reported for insurance expense in the December 31, 2021 fiscal year end of the company？

1. 360,000 yen
2. 20,000 yen
3. 0 yen
4. None of the above

Which of the following is correct as the adjusting entry to record salaries owed to employees but not paid yet at the end of the year?

1. Debit Salaries Payable, Credit Salaries Expense
2. Debit Capital, Credit Salaries Expense
3. Debit Salaries Expense, Credit Salaries Payable
4. No adjusting entry is needed.

Which of the following is correct as the adjusting entry to record salaries owed to employees but not paid yet at the end of the year?

1. Debit Salaries Payable, Credit Salaries Expense
2. Debit Capital, Credit Salaries Expense
3. Debit Salaries Expense, Credit Salaries Payable
4. No adjusting entry is needed.

A Company paid 120,000 yen for 12 months advertisement fee in September 2021. The contract is the monthly advertisement in the magazine from October 2021 to September 2022. The fiscal year end of the company is 31 December 2021. Journalize the entry for the following.

 

• When payment in September 2021
• On 31 December 2021
• On 1 January 2022

A Company paid 120,000 yen for 12 months advertisement fee in September 2021. The contract is the monthly advertisement in the magazine from October 2021 to September 2022. The fiscal year end of the company is 31 December 2021. Journalize the entry for the following.

 

• When payment in September 2021

Dr）Advertisement Expense 120,000

 Cr）Cash 120,000

• On 31 December 2021

Dr）Prepaid Advertisement 90,000

　Cr）Advertisement Expense 90,000

当期（2021年）に含まれるのは3ヶ月分のため、当期末に9ヶ月分の90,000円を翌期に繰延計上します。

• On 1 January 2022

Dr）Advertisement Expense 90,000

　Cr）Prepaid Advertisement 90,000

翌期（2022年）の期首に再振替仕訳をすることにより、翌期の費用（Expense）が90,000円となります。

Which of the following adjustment is needed when the company has already paid full amount of the insurance premium, but the insurance period has not yet completed at the end of the year?

1. Debit Insurance Payable, Credit Insurance Expense
2. Debit Prepaid Insurance, Credit Insurance Expense
3. Debit Insurance Expense, Credit Cash
4. No adjusting entry is needed.

Which of the following adjustment is needed when the company has already paid full amount of the insurance premium, but the insurance period has not yet completed at the end of the year?

1. Debit Insurance Payable, Credit Insurance Expense
2. Debit Prepaid Insurance, Credit Insurance Expense
3. Debit Insurance Expense, Credit Cash
4. No adjusting entry is needed.

A Company paid 500,000 yen for 500 sets of marketing materials and recorded it as marketing expense during the year. At the fiscal year end, 200 sets were on hand as unused. Which of the following adjustment is appropriate at the year-end？

1. Debit Asset, Credit Expense 20,000 yen
2. Debit Asset, Credit Expense 200,000 yen
3. Debit Expense, Credit Liability 20,000 yen
4. None of the above

A Company paid 500,000 yen for 500 sets of marketing materials and recorded it as marketing expense during the year. At the fiscal year end, 200 sets were on hand as unused. Which of the following adjustment is appropriate at the year-end？

1. Debit Asset, Credit Expense 20,000 yen
2. Debit Asset, Credit Expense 200,000 yen
3. Debit Expense, Credit Liability 20,000 yen
4. None of the above

USCPA英文会計学院の「英文会計無料講座」が役に立つ人

1. 初めて英文会計を学習する人
2. 英文会計の実務が知りたい人
3. 英文会計の中上級の知識が得たい人
4. USCPA（米国公認会計士）のため、英文会計の学習をしている人
5. ACCA（英国勅許公認会計士）の学習をしている人・しようと考えている人
6. 仕事などで、英語で会計を理解する必要がある人
7. 英語が得意で、会計の知識を身につけてキャリアアップしたい人

英文会計入門講座＜第6回＞で学んだこと

1. 正常営業循環基準（Operating Cycle Rule）vs 一年基準（One Year Rule）
2. 固定資産（Fixed Assets）とは
3. 減価償却（Depreciation）の考え方
4. 棚卸資産（Inventory）と減価償却資産（Depreciable Assets）の費用化の違い
5. 減価償却（Depreciation）を計算する際に考慮する点 ー３つ
6. 簿価（Net Book Value ：NBV）
7. 代表的な減価償却（Depreciation）方法 ー２つ
8. 仕訳（Journal Entry）と財務諸表（Financial Statements：FS）上の表示

1. 備品（Office Equipment）
2. 買掛金（Accounts Payable：AP）
3. 3年後に一括返済される貸付金（Loan Receivables）
4. 建物（Building）
5. 現金（Cash）
6. 半年後に支払う予定の未払金（Other Accounts Payable）
7. 銀行預金（Cash in Bank）
8. 車両運搬具（Automobile）
9. 2ヶ月後に返済する予定の借入金（Loan Payables）
10. 2年後に支払われる売掛金（Accounts Receivable：AR）

• コンピュータを買い入れ、本体価格98,000円と配達料2,000円を現金（Cash）で支払った。
• 上記のコンピュータに関して、決算整理（Adjustments）において、減価償却費（Depreciation Expense）を定額法（Straight-line Method）で計上する。
• 上記のコンピュータに関して、決算整理（Adjustments）において、減価償却費（Depreciation Expense）を定率法（Declining Balance Method）で計上する。

1. 残存価額（Salvage Value）：取得原価（Acquisition Cost）の5％
2. 耐用年数（Useful Life）：5年
3. 償却率：0.3

• コンピュータを買い入れ、本体価格98,000円と配達料2,000円を現金（Cash）で支払った。

Dr）Computer 100,000

 Cr）Cash 100,000

 

• 上記のコンピュータに関して、決算整理（Adjustments）において、減価償却費（Depreciation Expense）を定額法（Straight-line Method）で計上する。

Dr）Depreciation Expense 19,000

　Cr）Accumulated Depreciation 19,000

100,000円×（100％－5％）÷５年＝19,000円

 

• 上記のコンピュータに関して、決算整理（Adjustments）において、減価償却費（Depreciation Expense）を定率法（Declining Balance Method）で計上する。

Dr）Depreciation Expense 30,000

　Cr）Accumulated Depreciation 30,000

100,000円×0.3＝30,000円

 

1. 残存価額（Salvage Value）：取得原価（Acquisition Cost）の5％
2. 耐用年数（Useful Life）：5年
3. 償却率：0.3

Which of the following account is classified into current assets？

1. Equipment
2. Supplies
3. Land
4. Notes Payable

Which of the following account is classified into current assets？

1. Equipment
2. Supplies
3. Land
4. Notes Payable

Which of the following account is classified into fixed assets?

1. Accounts Payable
2. Capital
3. Supplies
4. None of the above

Which of the following account is classified into fixed assets?

1. Accounts Payable
2. Capital
3. Supplies
4. None of the above

Which of the following account is classified into current liabilities？

1. Prepaid Rent
2. Salaries Payable
3. Accounts Receivable
4. Retained Earnings

Which of the following account is classified into current liabilities？

1. Prepaid Rent
2. Salaries Payable
3. Accounts Receivable
4. Retained Earnings

Which of the following account is classified into non-current liabilities?

1. Capital
2. Long-term Loan Payable
3. Accounts Payable
4. Machinery

Which of the following account is classified into non-current liabilities?

1. Capital
2. Long-term Loan Payable
3. Accounts Payable
4. Machinery

Which of the following is not the component to calculate depreciation？

1. Cost
2. Salvage Value
3. Useful Life
4. Market Price

Which of the following is not the component to calculate depreciation？

1. Cost
2. Salvage Value
3. Useful Life
4. Market Price

The definition of fixed assets that is incorrect is

1. assets used mainly for business activity.
2. assets not sold to outside parties.
3. assets usually used until they become useless for business activity,
4. assets held for sale in the process of operation cycle.

The definition of fixed assets that is incorrect is

1. assets used mainly for business activity.
2. assets not sold to outside parties.
3. assets usually used until they become useless for business activity,
4. assets held for sale in the process of operation cycle.

A Company purchases a machine for 500,000 yen and incurs the following additional cost. Journalize the entry to record this purchase of the machine.

• Installation Charge　20,000 yen
• Delivery Charge 5,000 yen
• Testing 3,500 yen
• Sales Tax 40,000 yen

A Company purchases a machine for 500,000 yen and incurs the following additional cost. Journalize the entry to record this purchase of the machine.

• Installation Charge　20,000 yen
• Delivery Charge 5,000 yen
• Testing 3,500 yen
• Sales Tax 40,000 yen

 

Dr）Machine 568,500

 Cr）Cash 568,500

取得に際して事業の用に供するまでのすべての費用（Expense）が取得価額に含まれます。

500,000＋20,000＋5,000＋3,500＋40,000＝568,500円

USCPA英文会計学院の「英文会計無料講座」が役に立つ人

1. 初めて英文会計を学習する人
2. 英文会計の実務が知りたい人
3. 英文会計の中上級の知識が得たい人
4. USCPA（米国公認会計士）のため、英文会計の学習をしている人
5. ACCA（英国勅許公認会計士）の学習をしている人・しようと考えている人
6. 仕事などで、英語で会計を理解する必要がある人
7. 英語が得意で、会計の知識を身につけてキャリアアップしたい人

英文会計中級講座＜全6回＞で学んだこと

 

＜第1回＞会計の基本概念を覚えましょう

1. 会計公準（Accounting Convention）ー４つ
2. 会計の基本原則 ー４つ

 

＜第2回＞棚卸資産の評価　低価法の適用について学びましょう

1. 低価法（Lower of Cost of Market： LCM）とは
2. 棚卸資産（Inventory）の低価法（LCM）適用の際の時価（Market Value）ー２つ
3. 低価法（LCM）の計算

 

＜第3回＞外貨建取引の換算について学びましょう

1. 外貨建取引（Foreign Currency Transaction）とは
2. 取引時、期末時、決算時の取り扱い

 

＜第4回＞貸倒引当金の計上と貸倒損失について理解しましょう

1. 貸倒引当金（Allowance for Uncollectible Accounts：AUA）とは
2. 貸倒引当金（AUA）の計上 ー 引当金法（Allowance Method）
3. 貸倒引当金（AUA）の金額の計算 ーPLから、BSから、年齢調べ（Aging）
4. 貸借対照表（Balance Sheet：BS）上の表示

 

＜第5回＞その他の引当金と債務の計上について理解しましょう

1. 負債性引当金
2. 有給休暇引当金（Vacation Liability）
3. 製品保証引当金（Warranty Liabilities）
4. 偶発債務（Contingencies）ー利益の場合、損失の場合
5. 偶発損失（Loss Contingencies）ー財務諸表（Financial Statements：FS）への表示
6. 後発事象（Subsequent Events）ー財務諸表（Financial Statements：FS）への表示

 

＜第6回＞会社の税金について理解しましょう

1. 会社の所得にかかる税金の計上
2. 消費税（Japanese Consumption Tax）の計上
3. 預り源泉税の計上
4. その他の税金の計上

The valuation of assets in the balance sheet is based primarily upon:

1. what it would cost to replace the assets.
2. cost, because cost is usually factual and verifiable.
3. current fair market value as established by independent appraisers.
4. cost, because in the event of liquidation, the assets would be sold at an amount equal to their original cost.

Which of the following is not a generally accepted accounting principle relating to the valuation of assets？

1. The historical cost principle －in general, assets are valued at cost, rather than at estimated market values.
2. The economic entity assumption －activity of the economic entity is independent from that of its owner or other entity.
3. The safety principle －assets are valued at no more than the value for which they are insured.
4. The going concern assumption －one reason for valuing assets such as buildings and equipment at cost rather than at their current market values is the assumption that the business will use these assets, rather than sell them.

Which of the following is not a generally accepted accounting principle relating to the valuation of assets？

1. The historical cost principle －in general, assets are valued at cost, rather than at estimated market values.
2. The economic entity assumption －activity of the economic entity is independent from that of its owner or other entity.
3. The safety principle －assets are valued at no more than the value for which they are insured.
4. The going concern assumption －one reason for valuing assets such as buildings and equipment at cost rather than at their current market values is the assumption that the business will use these assets, rather than sell them.

Each year the accountant for the company adjusts the recorded value of each asset to its market value. Using these market value figures on the balance sheet violates:

1. The economic entity assumption
2. The historical cost principle
3. The accounting equation
4. The monetary unit assumption

Each year the accountant for the company adjustments the recorded value of each asset to its market value. Using these market value figures on the balance sheet violates:

The owner of A Company purchased a new car for his daughter who is away at college at a cost of 2,000,000 yen and reported this amount as car in the company’s balance sheet. The reporting of this item in this manner violated the:

1. Historical Cost Principle
2. Principle of Economic Entity Assumption
3. Full Disclosure Principle
4. Going-concern Assumption

The owner of A Company purchased a new car for his daughter who is away at college at a cost of 2,000,000 yen and reported this amount as car in the company’s balance sheet. The reporting of this item in this manner violated the:

1. Historical Cost Principle
2. Principle of Economic Entity Assumption
3. Full Disclosure Principle
4. Going-concern Assumption

1. The assumption that a company will continue indefinitely is known as                          .
2. The 　　　    　　  principle requires assets to be reported at acquisition price.
3. Recognition of revenue when realized or earned instead of when paid illustrates the                             principle.
4. Depreciation purposes to allocate the asset cost over its useful life since the asset contributes to earn periodical revenue directly or indirectly. This is based on the idea of               principle.

1. The assumption that a company will continue indefinitely is known as Going Concern.
2. The Historical Cost principle requires assets to be reported at acquisition price.
3. Recognition of revenue when realized or earned instead of when paid illustrates the Revenue Recognition principle.
4. Depreciation purposes to allocate the asset cost over its useful life since the asset contributes to earn periodical revenue directly or indirectly. This is based on the idea of Matching principle.

When the market value to be determined by lower of cost or market method, if the replacement cost is greater than the ceiling the market value would be

1. Selling Price
2. Net Realizable Value
3. Replacement Cost
4. Floor

When the market value to be determined by lower of cost or market method if the replacement cost is greater than the ceiling the market value would be

1. Selling Price
2. Net Realizable Value
3. Replacement Cost
4. Floor

Under the lower of cost or market method, what amount should be reported as year-end inventory value per below data?

• Original Cost：29,000 yen
• Selling Price：32,000 yen
• Cost for Sale：1,800 yen
• Current Replacement Cost：29,500 yen
• Normal Profit Margin：3,200

1. 27,000 yen
2. 29,000 yen
3. 29,500 yen
4. 30,200 yen

Under the lower of cost or market method, what amount should be reported as year-end inventory value per below data?

• Original Cost ：21,000 yen
• Selling Price：24,000 yen
• Cost for sale：1,000 yen
• Current Replacement Cost：20,000 yen
• Normal Profit Margin：2,500 yen

1. 20,000 yen
2. 20,500 yen
3. 21,000 yen
4. 23,000 yen

Under the lower of cost of market method, what amount should be reported as year-end inventory value per below data?

• Original Cost ：21,000 yen
• Selling Price：24,000 yen
• Cost for sale：1,000 yen
• Current Replacement Cost：20,000 yen
• Normal Profit Margin：2,500 yen

1. 20,000 yen
2. 20,500 yen
3. 21,000 yen
4. 23,000 yen

Which statement is incorrect if the company has foreign currency transactions?

1. Transaction with foreign currency such as export or import is recorded with the exchange rate when incurred.
2. When the balance at the fiscal year end described in foreign currency, it should be converted into the local or functional currency for the financial statements.
3. Foreign exchange gain or loss is incurred due to change of currency exchange rate.
4. The company can show two or more currencies in one financial statement if there are balances with various currencies.

Which statement is incorrect if the company has foreign currency transactions?

1. Transaction with foreign currency such as export or import is recorded with the exchange rate when incurred.
2. When the balance at the fiscal year end described in foreign currency, it should be converted into the local or functional currency for the financial statements.
3. Foreign exchange gain or loss is incurred due to change of currency exchange rate.
4. The company can show two or more currencies in one financial statement if there are balances with various currencies.

Journalize the following transactions in Japanese yen. The company is located in Japan and reports transactions in Japanese yen. Its fiscal year end is December 31 2021.

• Dec 18 2021：Bought merchandise of 500 US dollars for cash. The exchange rate was USD1=JPY120.
• Dec 23 2021：Sold merchandise of 1,000 Australian dollars on  account. The exchange rate was AUD1=JPY70
• Dec 31 2021：Year-end. The exchange rate on the day was USD1=JPY110, AUD1=JPY80
• Jan 20 2022：Cash account collected from the sale on December 23 2021. The exchange rate was AUD=JPY60

Journalize the following transactions in Japanese yen. The company reports transactions in Japanese yen. Its fiscal year end is December 31 2021.

 

• Dec 18 2021：Bought merchandise of 500 US dollars for cash. The exchange rate was USD1=JPY120.

Dr）Purchases　60,000

 Cr）Cash 60,000

USD500×JPY120／USD1＝JPY60,000

 

• Dec 23 2021：Sold merchandise of 1,000 Australian dollars on  account. The exchange rate was AUD1=JPY70

Dr）Accounts Receivable 70,000

 Cr）Sales 70,000

AUD 1,000×JPY70／AUD1＝JPY70,000

 

• Dec 31 2021：Year-end. The exchange rate on the day was USD1=JPY110, AUD1=JPY80

Dr）Accounts Receivable 10,000

 Cr）Foreign Exchange Gain 10,000

AUD 1,000×JPY80／AUD1＝JPY80,000

JPY80,000-JPY70,000=JPY10,000

AUD建ての売掛金を換算替えしたことにより、売掛金残高は80,000円になります。

 

• Jan 20 2022：Cash account collected from the sale on December 23 2021. The exchange rate was AUD1=JPY60

Dr）Cash 60,000

      Foreign Exchange Loss 20,000

Cr）Accounts Receivable 80,000

80,000円の売掛金が為替の影響で60,000円しか回収できなかったため、差額は為替差損となります。

Aging method is one of the ways to calculate the allowance for uncollectible accounts. Which of the following statement is incorrect regarding the aging method？

1. Accounts receivables are categorized into cash collecting period.
2. The method is based on annual sales.
3. The longer the uncollected period is, the higher the uncollectible percentage becomes.
4. One of the methods based on the accounts receivable balance at the year-end.

Aging method is one of the ways to calculate the allowance for uncollectible account. Which of the following is incorrect regarding the aging method？

1. Accounts receivables are categorized into cash collecting period.
2. The method is based on annual sales.
3. The longer the uncollected period is, the higher the uncollectible percentage becomes.
4. One of the methods based on the accounts receivable balance at the year-end.

Following information related to the accounts receivable in the company book of account at the year-end of December 31 2021.

• Accounts Receivable as of Jan 1 2021：5,000,000 yen
• Sale on account during 2021：40,000,000 yen
• Cash payment from the customers during 2021：37,000,000 yen
• Allowance for uncollectible accounts as of Jan 1 2021：800,000 yen
• Accounts written-off during 2021：200,000 yen

The company estimates 3% of the sales on account would be uncollectible.

 

Q1 What amount should be recorded as bad debt expense during 2021?

1. 1,800,000 yen
2. 1,600,000 yen
3. 1,400,000 yen
4. 1,200,000 yen

Q2 What is the balance of allowance for bad debt as of December 31 2021？

1. 1,800,000 yen
2. 1,600,000 yen
3. 1,400,000 yen
4. 1,200,000 yen

Following information related to the accounts receivable in the company book of account at the year-end of December 31 2021.

• Accounts Receivable as of Jan 1 2021：5,000,000 yen
• Sale on account during 2021：40,000,000 yen
• Cash payment from the customers during 2021：37,000,000 yen
• Allowance for uncollectible accounts as of Jan 1 2021：800,000 yen
• Accounts written-off during 2021：200,000 yen

The company estimates 3% of the sales on account would be uncollectible.

 

Q1 What amount should be recorded as bad debt expense during 2021?

1. 1,800,000 yen
2. 1,600,000 yen
3. 1,400,000 yen
4. 1,200,000 yen

解答は、④です。

売上高比率法（Percentage of Sales Approach）により計上する。

40,000,000 ×3％＝1,200,000円

 

Q2 What is the balance of allowance for bad debt as of December 31 2021？

1. 1,800,000 yen
2. 1,600,000 yen
3. 1,400,000 yen
4. 1,200,000 yen

解答は、①です。

貸倒引当金（Allowance for Uncollectible Accounts：AUA）の期末残高は、以下のようになります。

期首＋当期引当－貸倒れ＝800,000＋1,200,000-200,000＝1,800,000円

Following information related to the accounts receivable at the year-end of December 31 2021.

Days Outstanding	Amounts	Uncollectible Rate （Estimated)
0-59	20,000,000	1%
60-119	10,000,000	2%
120 and over	5,000,000	4%
	35,000,000

 

The balance of allowance for uncollectible accounts was 300,000 yen at December 31 2021. During the fiscal year, 200,000 yen was written-off.

 

Q1 What the company applies aging method, what amount should be reported as allowance for uncollectible accounts in the December 31 2021 balance sheet？

1. 700,000 yen
2. 600,000 yen
3. 500,000 yen
4. 400,000 yen

 

Q2 When the company applies aging method, what amount should be reported as bad debt expense for the period from January 1 2021 to December 31 2021？

1. 700,000 yen
2. 600,000 yen
3. 500,000 yen
4. 400,000 yen

Following information related to the accounts receivable at the year-end of December 31 2021.

Days Outstanding	Amounts	Uncollectible Rate （Estimated)
0-59	20,000,000	1%
60-119	10,000,000	2%
120 and over	5,000,000	4%
	35,000,000

 

The balance of allowance for uncollectible accounts was 300,000 yen at December 31 2021. During the fiscal year, 200,000 yen was written-off.

 

Q1 What the company applies aging method, what amount should be reported as allowance for uncollectible accounts in the December 31 2021 balance sheet？

1. 700,000 yen
2. 600,000 yen
3. 500,000 yen
4. 400,000 yen

解答は、②です。

売掛金比率法（Percentage of Accounts Receivable Approach）による年齢調べ（Aging）では、売掛金（AR）残高にあわせて貸倒引当金（AUA）の残高を設定します。

20,000,000円×1％＋10,000,000円×2％＋5,000,000円×４％＝200,000円＋200,000円＋200,000円＝600,000円

 

Q2 When the company applies aging method, what amount should be reported as bad debt expense for the period from January 1 2021 to December 31 2021？

1. 700,000 yen
2. 600,000 yen
3. 500,000 yen
4. 400,000 yen

解答は、③です。

貸倒引当金（AUA）が600,000円である。

期首＋当期引当－貸倒れ＝期末

当期引当＝期末－期首＋貸倒れ＝600,000円－300,000円＋200,000円＝500,000円

The company estimated the amount of loss that would incur if the company lost in a lawsuit. When the likelihood of the case was reasonably possible, a loss of contingency should be.

1. Accrue as a liability but not disclosed.
2. Disclosed and accrues as a liability.
3. Disclosed but not accrued as a liability.
4. Neither accrued as a liability nor disclosed.

When the company accrues a loss contingency, the estimated rage of the loss would be 10,000,000 yen to 50,000,000 yen. If the possibility of the loss would be probable and there is no best estimate. What amount should be accrued?

1. 0 yen
2. 10,000,000 yen
3. 30,000,000 yen
4. 50,000,000 yen

When the company accrues a loss contingency, the estimated rage of the loss would be 10,000,000 yen to 50,000,000 yen. If the possibility of the loss would be probable and there is no best estimate. What amount should be accrued?

1. 0 yen
2. 10,000,000 yen
3. 30,000,000 yen
4. 50,000,000 yen

• At the fiscal year end of December 2021, A Company accrued income tax at 40% tax rate against net income of 80,000,000 yen.
• On April 20 2022, the company paid 30,000,000 yen final income tax for the year 2021.

• At the fiscal year end of December 2021, A Company accrued income tax at 40% tax rate against net income of 80,000,000 yen.

Dr）Tax Expense／Income Taxes 32,000,000

 Cr) Income Tax Payable 32,000,000

 

• On April 20 2022, the company paid 30,000,000 yen final income tax for the year 2021.

Dr）Income Tax Payable 30,000,000

 Cr）Cash 30,000,000

• A Company bought cash merchandise of 1,000 yen and paid 1,100 yen, 10% consumption tax included.

 

• The company sold merchandise on account at 5,500 yen, 10% consumption tax included.

 

• At the fiscal year end of December 31 2021, the company has following balances related to consumption tax. The company offset the balances and accrue consumption tax payable.

Prepaid Consumption tax 85,000 yen

Consumption Tax Receipt 120,000 yen

 

• The company paid consumption tax for the fiscal year ended December 31 2021.

• A Company bought cash merchandise of 1,000 yen and paid 1,100 yen, 10% consumption tax included.

Dr）Purchase 1,000

      Prepaid Consumption Tax 100

Cr）Cash 1,100

 

• The company sold merchandise on account at 5,500 yen, 10% consumption tax included.

Dr）Accounts Receivable 5,250

 Cr）Sales 5,000

       Consumption Tax Receipt 250

 

• At the fiscal year end of December 31 2021, the company has following balances related to consumption tax. The company offset the balances and accrue consumption tax payable.

Prepaid Consumption tax 85,000 yen

Consumption Tax Receipt 120,000 yen

Dr）Consumption Tax Receipt 120,000

　Cr）Prepaid Consumption Tax 85,000

        Consumption Tax Payable 35,000

 

• The company paid consumption tax for the fiscal year ended December 31 2021.

Dr）Consumption Tax Payable 35,000

 Cr）Cash 35,000

• The company paid 82,000 yen to the employees as follows.

Gross Salary：100,000 yen

Less Withholding income tax：18,000 yen

Net Payment：82,000 yen

 

• The company paid out tax withheld of 18,000 yen to the tax office.

 

• The company paid property tax of 5,000 yen

以下の仕訳をしてください。

USCPA英文会計学院の「英文会計無料講座」が役に立つ人

1. 初めて英文会計を学習する人
2. 英文会計の実務が知りたい人
3. 英文会計の中上級の知識が得たい人
4. USCPA（米国公認会計士）のため、英文会計の学習をしている人
5. ACCA（英国勅許公認会計士）の学習をしている人・しようと考えている人
6. 仕事などで、英語で会計を理解する必要がある人
7. 英語が得意で、会計の知識を身につけてキャリアアップしたい人

英文会計上級講座＜全5回＞で学んだこと

＜第1回＞無形固定資産について学習しましょう

1. 無形固定資産（Intangible Assets）とは
2. 無形固定資産（Intangible Assets）の取得価額（Acquisition Cost）
3. 無形固定資産（Intangible Assets）の償却（Amortization）
4. 法律上の権利およびこれに類する権利ー取得、償却（Amortization）の計上、財務諸表（Financial Statements：FS）上の表示
5. 営業権（Goodwill）取得および償却（Amortization）の計上

 

＜第2回＞固定資産の売却・除却について学習しましょう

1. 固定資産（Fixed Assets）売却の際の仕訳（Journal Entry）
2. 下取りおよび除却

 

＜第3回＞投資有価証券について学習しましょう

1. 株式（Stock）とはー種類
2. 社債（Bond）、公債、地方債、転換社債（CB）
3. 取得時の処理
4. 配当（Dividend）、利息（Interest）の受領の計上
5. 売却時の処理

 

＜第4回＞利益処分について理解しましょう

1. 配当（Dividend）支払決議（Resolution）
2. 役員賞与（Directors’ Bonus）
3. 利益処分とBS・PL

 

＜第5回＞BSとPLについて理解を深めましょう

＜第6回＞財務諸表を使った経営分析ができるようになりましょう

入門講座・実務講座・中級講座・上級講座で学んだ知識の実践

Classify the following into Tangible Assets, Intangible Assets, or Neither.

1. Accounts Receivable
2. Goodwill
3. Office Building
4. Office Equipment
5. Patent
6. Copyright
7. Inventory
8. Land under the office building

Classify the following into Tangible Assets, Intangible Assets, or Neither.

1. Accounts Receivable：　Neither
2. Goodwill：　Intangible Assets
3. Office Building：　Tangible Assets
4. Office Equipment：　Tangible Assets
5. Patent：　Intangible Assets
6. Copyright：　Intangible Assets
7. Inventory：　Neither
8. Land under the office building：　Tangible Assets

Journalize the following transactions.

• October 1 2021：A Company purchased copyright of a novel from the author. In addition to the payment to the author of 1,000,000 yen , the company paid 30,000 yen of registration fee and 70,000 yen of legal fee.

 

• December 31 2021：Fiscal year end and the amortization was recorded. The copyright was estimated to be used for 10 years and the company used it to their business from October1 2021.

Journalize the following transactions.

• October 1 2021：A Company purchased copyright of a novel from the author. In addition to the payment to the author of 1,000,000 yen , the company paid 30,000 yen of registration fee and 70,000 yen of legal fee.

Dr）Copyright  1,100,000

 Cr）Cash 1,100,000

1,000,000＋30,000＋70,000＝1,100,000円

 

• December 31 2021：Fiscal year end and the amortization was recorded. The copyright was estimated to be used for 10 years and the company used it to their business from October1 2021.

Dr）Amortization 27,500

 Cr）Copyright 27,500

1,100,000円÷10年×3ヶ月／12ヶ月＝27,500円

Journalize the following transactions.

• July 1 2021：A Company purchased the existing business at 1,500,000 yen. The purchased business had 800,000 yen of total assets and 300,000 yen of total liabilities.

 

• December 31 2021：Fiscal year end. The purchased business was estimated to contribute to the company for 5 years.

Journalize the following transactions.

• July 1 2021：A Company purchased the existing business at 1,500,000 yen. The purchased business had 800,000 yen of total assets and 300,000 yen of total liabilities.

Dr）Total Assets 800,000

      Goodwill 1,000,000

 Cr）Total Liabilities 300,000

      Cash 1,500,000

純資産額（総資産ー総負債）を超える支払いは、超過収益力＝営業権（Goodwill）として認識します。

 

• December 31 2021：Fiscal year end. The purchased business was estimated to contribute to the company for 5 years.

Dr）Amortization 100,000

 Cr）Goodwill 100,000

1,000,000円÷5年×6ヶ月／12ヶ月＝100,000円

Journalize the following transactions.

The company purchased a car on July 1 2021 at a cost of 5,500,000 yen and paid registration fee of 200,000 yen and legal fee of 300,000. The company depreciated it by the straight-line method with 5 years useful-life and zero salvage value.

• Journal entry when purchased the car on July 1 2021.

 

• Journal entry at the fiscal year ended December 31 2021.

 

• Journal entry at the fiscal year ended December 31 2022.

 

• The company Provided with this car at 3,000,000 yen on March 31 2023. The company applied the sale proceed of the old car to the down payment and purchased a new car of 7,000,000 yen. The shortfall was paid by cash.

Journalize the following transactions.

The company purchased a car on July 1 2021 at a cost of 5,500,000 yen and paid registration fee of 200,000 yen and legal fee of 300,000. The company depreciated it by the straight-line method with 5 years useful-life and zero salvage value.

 

• Journal entry when purchased the car on July 1 2021.

Dr）Automobile 6,000,000

Cr）Cash 6,000,000

取得価額は、5,500,000＋200,000＋300,000＝6,000,000円

 

• Journal entry at the fiscal year ended December 31 2021.

Dr）Depreciation 600,000

 Cr）Accumulated Depreciation 600,000

定額法（Straight-line Method）の償却は、（取得価額－残存価額）÷耐用年数ですので、（6,000,000円－0円）÷5年×6ヶ月／12ヶ月＝600,000円

 

• Journal entry at the fiscal year ended December 31 2022.

Dr）Depreciation 1,200,000

 Cr）Accumulated Depreciation 1,200,000

（6,000,000円－0円）÷5年＝1,200,000円

 

• The company Provided with this car at 3,000,000 yen on March 31 2023. The company applied the sale proceed of the old car to the down payment and purchased a new car of 7,000,000 yen. The shortfall was paid by cash.

Dr）Depreciation 300,000

　Cr）Accumulated Depreciation 300,000

2023年1月1日から3月31日までの減価償却費を計算します。

（6,000,000円－0円）÷5年×3ヶ月／12ヶ月＝300,000円

 

Dr）Automobile（New） 7,000,000

      Accumulated Depreciation 2,100,000

      Loss on sale from fixed assets 900,000

 Cr）Cash 4,000,000

　　 Automobile（Old）6,000,000

下取りに出した車の簿価（Net Book Value）と下取り価格の差額が固定資産売却損となります。

	償却累計額	簿価
2021年12月31日	600,000円	5,400,000円
2022年12月31日	1,800,000円	4,200,000円
2023年3月31日	2,100,000円	3,900,000円