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Fall 2010 - Exam 2 - Form A&B - Answer Key - for Blackboard
Course: ACC 312 02320, Fall 2010School: University of Texas
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Key Answer Form A 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. A E A D D C D C C C D D E C D or E A C E D D Answer Form Key B 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. C A D A D E C A E C D C D or E C D D D C D E Page 1
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Key Answer Form A
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. A E A D D C D C C C D D E C D or E A C E D D
Answer Form Key B
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. C A D A D E C A E C D C D or E C D D D C D E
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University of Texas - ACC 312 - 02320
urchased reverses Used BORF/U note -AQxSP-StdAllowedxSP forward of percentage from in February February sales collected part 4) Actual Budget:AQxAP-AQxSP-StdAllowedxSP DM VOH-AQxSR-StdAllowedxSR carryforwardActualinAvg CM = into x ($40-$24)+1/3($50-$40) =
University of Texas - ACC 312 - 02320
ACC 312 Fundamentals of Managerial Accounting Midterm Exam 2 Spring 2009 Test Form A Name Instructor Class Start TimeDO NOT OPEN until given instructions to do so.Instructions1. Confirm that you have 12 numbered pages (not including this page), printed
University of Texas - ACC 312 - 02320
ACC312 Spring 2010 Midterm ITest Form AName Instructor Class Day_ TimeUTEID_Summary M/C _/40Seat #_Problem 1. _/12 Problem 2. _/14 Problem 3. _/14 Problem 4. _/20DO NOT OPEN UNTIL GIVEN INSTRUCTIONS TO DO SO.Total_/1001. Confirm that you have 1
University of Texas - ACC 312 - 02320
ACC312 Spring 2010 Midterm ITest Form AName Instructor Class Day_ TimeUTEID_Summary M/C _/40Seat #_Problem 1. _/12 Problem 2. _/14 Problem 3. _/14 Problem 4. _/20DO NOT OPEN UNTIL GIVEN INSTRUCTIONS TO DO SO.Total_/1001. Confirm that you have 1
University of Texas - ACC 312 - 02320
Q uiz 2 Chapter 3 9/13/10Name: A nswer Key ACC 312 - LendeckyNO PART IAL CRED I T WILL BE G IVE N ON T H IS QU I Z1. What 3 types of costs f low into WIP inventory? Direct Materials Direct Labor Manufacturing Overhead For Questions 2-6 please use the i
University of Texas - ACC 312 - 02320
Quiz 4 Chapter 4 9/20/10 Partial credit will be given on questions 1-3 1. Ginsburg and Company provide you with the following data: Supervision Cost Units Sold January $27,500 2,400 February $27,500 2,560 March $32,540 3,360 April $30,000 2,880 May $32,63
University of Texas - ACC 312 - 02320
Total Costs$ $100 k $80k $60k $40k $20k 012/18/10$30k + $1.10Qost C tal To e abl ari ts V Cos$1.10 eaFixed Costs 1 0 2 0 3 0 4 0 5 0 6 0 7 0$30k Units Q (000)Unit Costs$ $5 $4 $3 $2 $1Total Cost $30k/Q + $1.10 Fixed Costs 2 3 0 0 Variable Costs
University of Texas - MIS 301 - 03765
Chapter 3 Organizational Strategy, IS & Competitive AdvantageMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessClass Business Excel Assignment #1 Due Sep 10 (Thu) - Tomorrow 11:59pm Deadline Hard; Late Policy Ex
University of Texas - MIS 301 - 03765
Chapter 4 Hardware and SoftwareMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessChapter 4 Learning Objectives Computer hardware Client vs. Server Software Viruses, Trojan horses, and wormsInput, Processing, Out
University of Texas - MIS 301 - 03765
Chapter Extension 7 Database DesignMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessClass Business MSGP2 due Friday (Sep 18), beginning of class HARD COPY, 1 copy per team Excel #1 graded, to be posted today
University of Texas - MIS 301 - 03765
Chapter 6 Data CommunicationsMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessMSGP: The Coolest Names Bovine Elite Bytes You in the Class Cuatro Amigos Digital Noise The Fantastic Four Geek Squad The Incredibles
University of Texas - MIS 301 - 03765
Chapter 6 Data CommunicationsMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessChapter 6: Learning Objectives Computer Network Components of LAN WAN How encryption works Purpose of firewall VPNWhat is a Computer
University of Texas - MIS 301 - 03765
Chapter 6 Data CommunicationsMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessRecapLANYou802.11 UTP CableNarrowband Broadband Access Point Dial-upRoommateEthernet / 802.3 UTP Cable8 .3 02802.3DSL (ADSL)
University of Texas - MIS 301 - 03765
ChEx 10 How the Internet WorksMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessRecapAlice Message Encryption Bobs Public Key Encrypted Message Decrypt Bobs Private Key Bob MessageRecapHome in NYC ADSLHotel in
University of Texas - MIS 301 - 03765
Chapter 8 E-Commerce & Web 2.0MIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessClass Business MSGP4 due next Wednesday (Oct 21) MSGP Team Meeting in Class this Friday! Use this valuable time wisely Prepare ques
University of Texas - MIS 301 - 03765
Texas Won!Chapter 8 E-Commerce & Web 2.0MIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessClass Business MSGP4 due Wednesday (Oct 21) 7:45am BB Post the link on discussion board RFID Case Write-up Due next We
University of Texas - MIS 301 - 03765
Chapter 7 BPMMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessClass Business MSGP - Great Job! Schedule Revised - BB->Syllabus Metro at RFID case due date moved to Mon, 11/9 IT Interview due date also postponed
University of Texas - MIS 301 - 03765
Ch. Ex. 11 Functional ProcessesMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessRecap Different Scopes of BPM? Functional, Cross-functional, Interorganizational Four stages of BPM Ways to improve process perfo
University of Texas - MIS 301 - 03765
Ch Ex 12 Cross-Functional ProcessesMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessCh Ex 12: Learning Objectives Customer Relationship Management (CRM) Systems Enterprise Resource Planning (ERP) Systems Enterpr
University of Texas - MIS 301 - 03765
Ch Ex 13 Interorganizational Processes: Supply Chain ManagementMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessHappy Halloween Class Business Exam #2 Nov 4, Wed, 8:00-8:50am, UTC 4.122 Study Guide posted on B
University of Texas - MIS 301 - 03765
Exam ReviewMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessExam 2 Wednesday (Nov. 4) 8:00~8:50AM UTC 4.122 Closed-bookExam 2 250 points 25 Multiple Choice Questions: 7 points each 2 Essay Questions: 15 + 60
University of Texas - MIS 301 - 03765
Chapter 9 BI and IS for Decision MakingMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessClass Business RFID case write-up Due Nov 9, Mon, beginning of class, hard copy Special Office Hours for RFID homework T
University of Texas - MIS 301 - 03765
Class Business Michael Dell last extra credit opportunity, Wed, Nov. 11, 5:00-6:00 PM, in the AT&T Executive Center Ballroom on Universityhttp:/www.mccombs.utexas.edu/news/speaker_series/Dell_BBA_11_09.aspRFID at Metro Case DiscussionRFID at Metro Cas
University of Texas - MIS 301 - 03765
Data Mining Ch Ex 16 Database MarketingMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessClass Business Excel #3 Assignment Under BB->Assignments XL Miner, available in Millennium Lab Alone or with a partner Dea
University of Texas - MIS 301 - 03765
Chapter 10 IS Development Ch Ex 19 Sys Dev Project MgtMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessClass Business Excel #3 Assignment Sorry for the technical problem w/ XL Miner in Millennium Lab Everybody
University of Texas - MIS 301 - 03765
Information Systems Development In-class ExerciseMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessClass Business Read the two important articles: IT Doesnt Matter (Packet) HP Goes All In with an IT Transformati
University of Texas - MIS 301 - 03765
IS Development Exercise Summary Does IT Matter?MIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessIS Development ExerciseGood Job!Almost Perfect only minor changes needed7 Groups! 50%!IS Development Exercise10
University of Texas - MIS 301 - 03765
Chapter 11 Info Sys Management Ch Ex 20 OutsourcingMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessResponsibilities of IT DeptIT Department OrganizationIT Department Organization Chief Information Officer (CI
University of Texas - MIS 301 - 03765
Chapter 12 Information Security ManagementMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessCh. 12 Information Security Management Sources and types of security threats Elements of a security program Technical sa
University of Texas - MIS 301 - 03765
Case Discussion: iPremierMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessMain Players Bob Turley Jack Samuelson Joanne Ripley Tim Mandel Warren Spangler Peter Stewart Leon LedbetterHuman Perceptions & Tendenci
University of Texas - MIS 301 - 03765
ReviewMIS 301 Introduction to IT ManagementLizhen XuIROM Department McCombs School of BusinessFinal Exam Thursday (Dec. 10) 9:00~12:00 noon UTC 1.102 Closed-book Special Office Hours: Tuesday (Dec 8) 2-3pmFinal Exam 300 points 50 Multiple Choice
University of Texas - ACC - 311
Problem 1-1 Solution - The Coffee Can Accounting SystemAssets+Cash Dr. Beg. Bal. I put in cash I put in cash G. Smith cash in G. Jones cash in I take cash out I put in cash I put in cash Pmt to G. Jones Pmt to G. Smith End. Bal. 0 350 200 250 300 0 75
University of Texas - ACC - 311
Problem 1-2 Solution True / False Questions for Chapter 1True or False F1. After certain types of transactions it is OK for the accounting system to have more Total Assets (stuff) than Total Liabilities + Owners Equity (claims-to-stuff). 2. Asset (stuff
University of Texas - ACC - 311
Problem 2-1 Solution - OverPriced Jeans, Inc. Starts Business General JournalDate Jan 01 Account Cash - Big Bank Cash - Little Bank Common Stock Issue Common Stock Jan 02 Equipment Cash - Big Bank Purchase equipment for cash Jan 05 Cash - Big Bank Note P
University of Texas - ACC - 311
Problem 2-2 Solution True / False Questions for Chapter 2True or False T1. In a traditional accounting system all entries must be first put in the General Journal.F F T F2. Entries are posted from the General Journal to the Trial Balance. 3. The Note
University of Texas - ACC - 311
Problem 3-1 Solution - OverPriced Jeans, Inc. Rips-Off Its First Customers General JournalDate Feb 01 Account Retained Earnings Cash - Big Bank Pay Feb. rent Feb 04 Cash - Big Bank Retained Earnings Retained Earnings Inventory Sell inventory to customer
University of Texas - ACC - 311
Problem 3-2 Solution True / False Questions for Chapter 3True or False F1. The Retained Earnings account is an asset account similar to the Inventory account. 2. The Retained Earnings account is similar to the Common Stock account, in that they are both
University of Texas - ACC - 311
Problem 4-1 Solution - OverPriced Jeans Revenue and Expense Accounts General JournalDate Feb. 01 Account Rent Expense Retained Earnings Cash - Big Bank Pay rent Feb. 04 Cash - Big Bank Sales Revenue Retained Earnings Cost of Goods Sold Retained Earnings
University of Texas - ACC - 311
Problem 4-2 Solution True / False Questions for Chapter 4True or False T1. Revenue accounts will always start each new accounting period with zero beginning balances.F2. Expense accounts will always start each new accounting period with a beginning ba
University of Texas - ACC - 311
Problem 5-1 Solution - OverPriced Jeans Closing Entires for February General JournalDate Feb 28 Account Sales Revenue Retained Earnings Close the revenue account Feb 28 Retained Earnings Cost of Goods Sold Rent Expense Wages Expense Interest Expense Clos
University of Texas - ACC - 311
Problem 5-2 Solution Accounting Cycle Steps Listed below are the nine steps in the Accounting Cycle. The Steps are listed in random order. Indicate each Steps correct sequence in the Accounting Cycle by placing the number 1 to 9 on the line after the word
University of Texas - ACC - 311
Problem 6-1 Solution - OverPriced Jeans, Inc. March Accounting Period General JournalDate Mar 01 Account Cash - Big Bank Common Stock Issue additional common stock Mar 01 Note Payable - Little Bank Cash - Big Bank Pay-off Little Bank note Mar 01 Interest
University of Texas - ACC - 311
Problem 7-1 SolutionRequirement 1 March 1 truck purchase Date Account Name Debit Credit3/1/11Truck CashPurchase new truck54,000 54,000Requirement 2 Monthly depreciation$750 $54,000 / (6 yrs x 12 mths) = $750Requirement 3 March 31 depreciation adju
University of Texas - ACC - 311
Problem 7-1 SolutionRequirement 1 March 1 truck purchase Date Account Name Debit Credit3/1/11Truck CashPurchase new truck54,000 54,000Requirement 2 Monthly depreciation$750 $54,000 / (6 yrs x 12 mths) = $750Requirement 3 March 31 depreciation adju
University of Texas - ACC - 311
Problem 7-9 Solution - Lennys Depreciation Adjusting Entry for JanuarySee the January tab in the 3-Lenny's Lawn Service.xls workbook for the Solutions to Problem 7-9Problem 7-10 Solution - Lennys Supplies Adjusting Entry for February See the February ta
University of Texas - ACC - 311
Problem 8-1 SolutionRequirement 1 January 1 receive $15,000 advance payment for rent Date Account Name 01/01/11 Cash Unearned Rent RevenueReceive Jan, Feb, March rent in advanceDebit 15,000Credit 15,000Requirement 2 T Account Analysis for the January
University of Texas - ACC - 311
Problem 8-1 SolutionRequirement 1 January 1 receive $15,000 advance payment for rent Date Account Name 01/01/11 Cash Unearned Rent RevenueReceive Jan, Feb, March rent in advanceDebit 15,000Credit 15,000Requirement 2 T Account Analysis for the January
University of Texas - ACC - 311
Problem 8-5 Solution - Lennys Unearned Revenue Adjusting Entry for April See the April screen in the 3-Lenny's Lawn Service.xls workbook for the Solutions to Problem 8-5Requirement 6 - "T" Account Analysis "T" Account Analysis for Asset and Liability Acc
University of Texas - ACC - 311
Problem 9-1 SOLUTIONFor each item in the Account column, determine if the entries in the other three columns are correct. If all three entries are correct, then circle True. If one or more of the entries are not correct, then circle False. What makes a q
University of Texas - ACC - 311
Problem 10-1 SOLUTIONRequirement 1 August 15 Dividend declaration entry Date 8/15/11 Account Name Dividends Dividends PayableRecord the declaration of the dividendDebit 50,000Credit 50,000After posting the above entry the account balances in Dividend
University of Texas - ACC - 311
AtParAnnuity SinglePaymentFurturePayment* PVFactor= PV 50,000 4.3295 1,000,000 0.7835216,475 783,500 999,975Ifmarketrateisat6%Annuity SinglePaymentFurturePayment* PVFactor= PV 50,000 4.2124 1,000,000 0.7473210,620 747,300 957,920 Cash 50,000 50,000
University of Texas - ACC - 311
Chapter 6 P ractice P roblemOn December 1st, Tahoe Thunder Inc.s accounts receivable has a balance of $260,000. The net realizable value was $251,900. Tahoe Thunder uses the aging method to estimate bad debt. On December 15th , Tahoe Thunder wrote off a
University of Texas - ACC - 311
Chapter 6 Practice ProblemOn December 1st, Tahoe Thunder Inc.s accounts receivable has a balance of $260,000. The net realizable value was $251,900. Tahoe Thunder uses the aging method to estimate bad debt. On December 15th, Tahoe Thunder wrote off a $1,
University of Texas - ACC - 311
Mackenzie Inc. reported the following comparative income statement for the years ended J une 30, 2010 and 2009: During 2010, Mackenzie discovered that the 2009 ending inventory, as previously reported, was underestimated by $2,100.2010 S ales Revenue Cos
University of Texas - ACC - 311
Mackenzie Inc. reported the following comparative income statement for the years ended June 30, 2010 and 2009: During 2010, Mackenzie discovered that the 2009 ending inventory, as previously reported, was underestimated by $2,100.2010 S ales Revenue Cost
University of Texas - ACC - 311
Agenda Syllabus questions? Solid Footing Chapters 1 and 2Page 1Where are we going?Before we get started with the details lets take a look at what were trying to accomplish Financial accounting involves reporting outside the company: Must comply with
University of Texas - ACC - 311
Agenda Questions? Solid Footing Chapters 3, 4 and 5Page 1Financial Statements Last class we focused on the Balance Sheet Report financial position at a particular point in time (at the end of month, quarter, year) Comprised of assets (economic resou
University of Texas - ACC - 311
Agenda Questions? Textbook Chapter 2Page 1Financial Statements Lets go back to the Balance Sheet but with a little more formality and details Comprised of assets (economic resources) and liabilities & equity (sources of financing) Assumptions used S
University of Texas - ACC - 311
Agenda Questions? Textbook Chapter 3Page 1Income Statement Results of Operations We talked about the balance sheet last class with financing and investing transactions so lets talk about operations today What is the operating cycle for a company?Pay
University of Texas - ACC - 311
Agenda Questions? Close out income statement from last class example and create Balance Sheet Textbook Chapter 4Page 1Adjustments and Financial StatementsAdjusting Revenues and Expenses We book transactions during the period that result from exchange
University of Texas - ACC - 311
Agenda Questions? Continue with Adjusting Entries Textbook Chapter 4Page 1Transaction PracticeExample 1 Papa Johns performed $1,100 in additional services in January for new franchisees who had previously paid Papa Johns. What is the adjusting entry