Accounting Practice Problems and Exercises for Commercial Circulation Enterprises

Author: Chief Editor: Zhang Qichao
Publisher:
Publishing Date: 1998-11-01
Features: Excerpts:
Section V: Multiple-Choice Questions
1. Briefly describe the scope of cash usage.
2. How to establish and improve the responsibility system for cash management?
3. What issues should be noted when settling payments with checks?
4. Briefly describe the general procedure for handling bank draft settlements.
5. What issues should enterprises pay attention to when handling bank draft settlements?
6. Briefly describe the general procedure for commercial acceptance draft settlements.
7. Briefly describe the general procedure for bank acceptance draft settlements.
8. Briefly describe the general procedure for remittance settlement methods.
9. Briefly describe the differences between collection settlement and entrusted collection settlement.
10. Briefly describe the general procedure for letter of credit settlements.
11. Taking acceptance of documents as settlement as an example, explain the procedure of collection settlements.
12. Briefly describe the main contents of foreign exchange management in China at present.
13. Briefly describe the meaning of remittance gains and losses and their causes.
14. Briefly describe the scope of accounts receivable accounting.
15. Briefly describe the meaning of bad debt loss and how to recognize bad debt loss.
Section VI: Business Accounting Exercises
Exercise 2—1
(I) Purpose: Practice the preparation of bank deposit reconciliation statements.
(II) Data: A certain enterprise in October of 19×× had the following records:
(1) On the 5th, the enterprise's bank deposit journal recorded a deposit of 36,000 yuan in sales revenue via a transfer check. On the 6th, check No. 1000 was issued to pay for processing fees to an external unit, totaling 6,800 yuan. On the 10th, check No. 1001 was issued to pay for the purchase price of materials, totaling 12,500 yuan. On the 29th, a transfer check for sales revenue of 2,240 yuan was deposited. On the 29th, check No. 1002 was issued to pay for material transportation fees, totaling 540 yuan. On the 29th, check No. 1003 was issued to pay for fuel expenses, totaling 7,800 yuan. On the 31st, the ending balance of the bank deposit was 20,604 yuan.
(2) The bank statement recorded:
① On the 5th, transfer income of 36,000 yuan.
② On the 6th, check No. 1000 was issued to pay processing fees of 6,800 yuan.
③ On the 10th, check No. 1001 was issued to pay for material purchases of 12,500 yuan.
④ On the 29th, 1,020 yuan was collected as utility expenses.
⑤ On the 29th, check No. 1002 was issued to pay for fuel expenses of 7,800 yuan.
⑥ On the 31st, interest income of 1,600 yuan was recorded.
⑦ The bank statement balance was 19,484 yuan.
(III) Requirements:
1. Investigate the reasons for the discrepancy between the enterprise's bank deposit records and the bank statement.
2. Based on the outstanding items, prepare a "Bank Deposit Reconciliation Statement" and determine the actual amount of bank deposits available for the enterprise at the end of the month.
Exercise 2—2
(I) Purpose: Master the accounting for cash and bank deposit receipts and payments and the recording of journals.
(II) Data:
1. A commercial enterprise had a cash journal balance of 900 yuan and a bank deposit journal balance of 16,300 yuan at the end of March of a certain year.
2. The enterprise had the following cash and bank deposit transactions in April:
(1) On the 1st, a cash check No. 0345 was issued to withdraw 300 yuan from the bank deposit for.