22 Pages

# Chapter 24

Course Number: BIO 2402, Spring 2011

College/University: Lone Star College

Word Count: 4894

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Nutrition, Metabolism, and Body Temperature Regulation Matching Questions Figure 24.1 Using Figure 24.1, match the following: 1) Ten-step enzymatically driven process that converts glucose into pyruvic acid. Answer: A Diff: 2 Page Ref: 922; Fig. 24.5 2) Occurs via substrate-level phosphorylation. Answer: D Diff: 2 Page Ref: 922; Fig. 24.5 3) Produces the CO2 involved during glucose oxidation. Answer: B Diff: 2...

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CMP 298 Sample Final Quantitative Questions 1.a) A project is expected to cost \$200,000 and earn perpetual income of \$20,000 at the end of every year. Set up the equation you would use to find the IRR of this project.b) If the companys cost of capital is
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UBC - COMM - 298
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1) Finn Ants was awarded a Sauder Entrance Scholarship in his first year at UBC. He had the option of receiving four equal \$2,500 payments at the beginning of each year, OR one lump-sum payment halfway through his degree. If the discount rate is 4% per ye
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UBC - COMM 298 - comm 298
Commerce Mentor Program 298 Midterm Review Package1. Suppose you bought one share of Pouce Coupe Resorts (PCR) one year ago for \$9. Today, you received a dividend payment of \$1 and sold the share for \$9.50. What was your realized return on PCR over the l
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO PROBLEMSPROBLEM 4-1A (a) 1. Cash . 11,000 Accounts Receivable. 2. Unearned Ticket Revenue. Ticket Revenue . 3. Cash . Unearned Ticket Revenue . Unearned Ticket Revenue (\$44,000 \$20,000) . Ticket Revenue . 26,000 26,000 44,000 44,000 24,000 2
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO BRIEF EXERCISESBRIEF EXERCISE 1-1 (a) (b) (c) P SP C Shared control, tax advantages, increased skills and resources. Simple to set up and maintains control with founder. Easier to transfer ownership and raise funds, no personal liability.BR
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO EXERCISESEXERCISE 1-1 (a) (b) (c) (d) (e) (f) (g) (h) 8. 1. 6. 7. 3. 2. 5. 4. Auditors opinion Corporation Common stock Accounts payable Accounts receivable Creditor Stockholder PartnershipEXERCISE 1-2 (a) Answers will vary.Financing Sale
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO PROBLEMSPROBLEM 1-1A(a) The concern over legal liability would make the corporate form a better choice over a partnership. Also, the corporate form will allow the business to raise cash more easily, which may be of importance in a rapidly g
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO BRIEF EXERCISESBRIEF EXERCISE 2-1 CL CA PPE PPE CA IA Accounts payable Accounts receivable Accumulated depreciation Building Cash Goodwill CL LTI PPE CA IA CA Income tax payable Investment in long-term bonds Land Merchandise inventory Patent
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO EXERCISESEXERCISE 2-1 CL CA PPE PPE CA CL IA Accounts payable and accrued liabilities Accounts receivable Accumulated depreciation Buildings Cash and short-term investments Dividends payable Goodwill CL CA LTI PPE LTL CA PPE CA Income taxes
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO PROBLEMSPROBLEM 2-1A YAHOO! INC. Balance Sheet December 31, 2006 Assets Current assets Cash and cash equivalents . Short-term investments . Accounts receivable . Prepaid expenses and other current assets . Total current assets . Long-term in
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO BRIEF EXERCISESBRIEF EXERCISE 3-1 Assets + + Liabilities + NE NE Stockholders Equity NE + (a) (b) (c)BRIEF EXERCISE 3-2Assets = Liabilities + Stockholders Equity Accounts Accounts Bonds Common Retained + Receivable + Supplies = Payable +
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO EXERCISESEXERCISE 3-1 1. 2. 3. 4. 5. 6. 7. 8. 9. Increase in assets and increase in stockholders equity. Decrease in assets and decrease in stockholders equity. Increase in assets and increase in stockholders equity. Increase in assets and i
Indian Institute Of Management, Ahmedabad - BUS - 201
Copyright 2009 John Wiley &amp; Sons, Inc. Kimmel, Accounting, 3/e, Solutions Manual (For Instructor Use Only)SOLUTIONS TO PROBLEM(a)FLINT HILLS TRAVEL AGENCY INC.= Liabilities + Stockholders Equity Retained Earnings Common Stock + Revenues Expenses Divid
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO BRIEF EXERCISESBRIEF EXERCISE 4-1 Cash \$100 0 0 +800 2,500 0 Net Income \$0 40 +1,300 0 0 600(a) (b) (c) (d) (e) (f)BRIEF EXERCISE 4-2 (a) Prepaid Insuranceto recognize insurance expired during the period. (b) Depreciation Expenseto account
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO EXERCISESEXERCISE 4-1 (a) Since the sales effort is not complete until the flight actually occurs, revenue should not be recognized until December. Southwest Airlines should recognize the revenue in December when the customer has been provid
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO PROBLEMSPROBLEM 4-1A (a) 1. Cash . 11,000 Accounts Receivable. 2. Unearned Ticket Revenue. Ticket Revenue . 3. Cash . Unearned Ticket Revenue . Unearned Ticket Revenue (\$44,000 \$20,000) . Ticket Revenue . 26,000 26,000 44,000 44,000 24,000 2
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO BRIEF EXERCISESBRIEF EXERCISE 5-1 (a) (b) (c) (d) (e) (f) Sales = \$181,500 (\$71,900 + \$109,600). Cost of goods sold = \$41,200 (\$71,200 \$30,000). Gross profit = \$38,000 (\$108,000 \$70,000). Operating expenses = \$19,200 (\$30,000 \$10,800). Opera
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO EXERCISESEXERCISE 5-1 (a) (1) Dec. 3 Accounts Receivable . Sales . Cost of Goods Sold . Merchandise Inventory . (2) Dec. 8 Sales Returns and Allowances . Accounts Receivable . Cash (\$472,000 \$4,720) . Sales Discounts [(\$500,000 \$28,000) X 1%
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO PROBLEMSPROBLEM 5-1A(a) General Journal Date May 1 2 Account Titles Merchandise Inventory . Accounts Payable . Accounts Receivable . Sales . Cost of Goods Sold . Merchandise Inventory. 5 9 Accounts Payable . Merchandise Inventory. Cash (\$4,
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO BRIEF EXERCISESBRIEF EXERCISE 6-1 (a) Ownership of the goods belongs to the consignor (Penny). Thus, these goods should be included in Pennys inventory. (b) The goods in transit should not be included in the inventory count because ownership
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO EXERCISESEXERCISE 6-1 Ending inventoryphysical count . 1. No effecttitle passes to purchaser upon shipment when terms are FOB shipping point . 2. No effecttitle does not transfer to Mabry until goods are received . 3. Add to inventory: Title
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO PROBLEMSPROBLEM 6-1A(a) The goods should not be included in inventory as they were shipped FOB shipping point and shipped February 26. Title to the goods transfers to the customer February 26. Kitselman should have recorded the transaction
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO BRIEF EXERCISESBRIEF EXERCISE 7-1 (a) (b) (c) (d) Financial Pressure Rationalization Financial Pressure OpportunityBRIEF EXERCISE 7-2 The purposes of internal control are to: 1. Safeguard a companys assets from employee theft, robbery, and
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO EXERCISESEXERCISE 7-1 The principles of internal control inherent in the maker-checker procedure are: 1. Segregation of duties. The employee records the transactions. The supervisor verifies and approves the transactions. Physical controls.
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO PROBLEMSPROBLEM 7-1A(a) PrinciplesEstablishment of responsibility.Application to Cherokee TheaterOnly cashiers are authorized to sell tickets. Only the manager and cashier can handle cash. The duties of receiving cash and admitting custo
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO BRIEF EXERCISESBRIEF EXERCISE 8-1 (a) Other receivables. (b) Notes receivable. (c) Accounts receivable.BRIEF EXERCISE 8-2 (a) Accounts Receivable . Sales . (b) Sales Returns and Allowances . Accounts Receivable. (c) Cash (\$16,600 \$332) . Sa
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO EXERCISESEXERCISE 8-1 Jan. 6 16 Accounts ReceivableColt Inc. . Sales. Cash (\$8,000 \$80) . Sales Discounts (1% X \$8,000) . Accounts ReceivableColt Inc. . 8,000 8,000 7,920 80 8,000EXERCISE 8-2 Jan. 10 Feb. 12 Mar. 10 Accounts ReceivableEaton
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO PROBLEMSPROBLEM 8-1A(a)Total estimated bad debtsNumber of Days Outstanding 3160 6190 91120 \$90,000 4% \$3,600 \$38,000 5% \$1,900 \$10,000 6% \$600Total Accounts receivable % uncollectible Estimated bad debts030Over 120 \$15,000 10% \$1,500\$
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO BRIEF EXERCISESBRIEF EXERCISE 9-1 All of the expenditures should be included in the cost of the land. Therefore, the cost of the land is \$73,400 (\$60,000 + \$5,000 + \$2,100 + \$2,800 + \$3,500). BRIEF EXERCISE 9-2 The cost of the truck is \$26,2
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO EXERCISESEXERCISE 9-1 (a) The following points explain the application of the cost principle to plant assets. 1. Under the cost principle, the acquisition cost for a plant asset includes all expenditures necessary to acquire the asset and ma
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO PROBLEMSPROBLEM 9-1AItem 1 2 3 4 5 6 7 8 9 10Land \$280,000Building \$ 6,800Other Accounts Land Improvements24,000 \$ 23,000 2,179 29,000 33,000 5,800 640,000 (8,000) \$298,179 \$696,000 Property Tax Expense Land ImprovementsCopyright 2009
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO BRIEF EXERCISESBRIEF EXERCISE 10-1 (a) A note payable due in two years is a long-term liability, not a current liability. (b) \$20,000 of the mortgage payable is a current maturity of long-term debt. This amount should be reported as a curren
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO EXERCISESEXERCISE 10-1 (a) June 1 Cash . Notes Payable . 16,000 16,000(b) June 30 Interest Expense (\$16,000 X .09 X 1/12) . Interest Payable . (c) Interest payable accrued each month . Number of months from borrowing to year end . Balance i
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO PROBLEMSPROBLEM 10-1A(a) Jan. 1Cash . Notes Payable . Cash . Sales (\$6,510 1.05) . Sales Taxes Payable (\$6,510 \$6,200) . Unearned Service Revenue . Service Revenue. Sales Taxes Payable . Cash. Accounts Receivable . Sales . Sales Taxes Paya
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO BRIEF EXERCISESBRIEF EXERCISE 11-1 The advantages and disadvantages of a corporation are as follows: Advantages Separate legal existence Limited liability of stockholders Transferable ownership rights Ability to acquire capital Continuous li
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO EXERCISESEXERCISE 11-1 (a) Jan. 10 Cash (70,000 X \$5) . Common Stock . Cash (40,000 X \$7) . Common Stock (40,000 X \$5) . Paid-in Capital in Excess of Par Value (40,000 X \$2) . Cash (70,000 X \$5) . Common Stock (70,000 X \$1) . Paid-in Capital
Indian Institute Of Management, Ahmedabad - BUS - 201
SOLUTIONS TO PROBLEMSPROBLEM 11-1A(a) Jan. 10Cash (80,000 X \$4) . Common Stock (80,000 X \$1) . Paid-in Capital in Excess of Stated ValueCommon Stock (80,000 X \$3) . Cash (12,000 X \$54) . Preferred Stock (12,000 X \$50) . Paid-in Capital in Excess of Par
Indian Institute Of Management, Ahmedabad - BUS - 201
Good afternoon everyone, The on-campus class has now finished Chapter 4-Accrual Accounting Concepts and will begin Chapter 5- Merchandising Operations &amp; Multiple Income Statement tomorrow. In chapter 4, be sure to complete all the homework assigned for c
Indian Institute Of Management, Ahmedabad - BUS - 201
Assets h Currentassets h Cashandcashequivalents 1001 Cash 1002h Cashinbank 1009h * Othercashandcashequivalents '100901h OthercityCashinbank '100902h Cashier'scheque '100903h Bankdraft '100904 Creditcard '100905h * L/CGuaranteedeposits '100906h Refundabled
Indian Institute Of Management, Ahmedabad - BUS - 201
The proprietorship form of business organizationAnswermust have at least two owners in most states. generally receives favorable tax treatment relative to a corporation. combines the records of the business with the personal records of the owner. is cla
Indian Institute Of Management, Ahmedabad - BUS - 201
Question 1Question 1 1.In a classified balance sheet, assets are usually classified as:Answercurrent assets; long-term assets; property, plant, and equipment; and intangible assets. current assets; long-term investments; property, plant, and equipment
Indian Institute Of Management, Ahmedabad - BUS - 201
Question 1Question 1 1.Stockholders equity is increased byAnswerdividends. revenues. expenses. liabilities.1 pointsQuestion 2Question 2 1.If expenses are paid in cash, thenAnswerassets will increase. liabilities will decrease. stockholders equit
Indian Institute Of Management, Ahmedabad - BUS - 201
Question 1Question 1Net income will result if gross profit exceedsAnswercost of goods sold. operating expenses. purchases. cost of goods sold plus operating expenses.1 pointsQuestion 2Question 2 1.Detailed records of goods held for resale are not
Indian Institute Of Management, Ahmedabad - BUS - 201
Question 1 If goods in transit are shipped FOB destinationQuestion 2 Goods held on consignment are never owned by the consignee. included in the consignees ending inventory. kept for sale on the premises of the consignor. included as part of no ones endi
Indian Institute Of Management, Ahmedabad - BUS - 201
Question 1 Which of the following is not one of the main factors that contribute to fraudulent activity? AnswerQuestion 2 Each of the following is a feature of internal control except AnswerQuestion 3 Internal auditors Answer1Question 4 The control pr
Indian Institute Of Management, Ahmedabad - BUS - 201
Question 1 Question 1 1. Notes or accounts receivables that result from sales transactions are often called Answer1 points Question 2 Question 2 1. On January 15, Nifty Company sells merchandise on account to Martinez Associates for \$2,000 with terms 3/1
Indian Institute Of Management, Ahmedabad - BUS - 201
Question 1 Burke Company purchases land for \$85,000 cash. Burke assumes \$2,500 in property taxes due on the land. The title and attorney fees totaled \$1,000. Burke has the land graded for \$2,200. They paid \$10,000 for paving of a parking lot. What amount
Indian Institute Of Management, Ahmedabad - BUS - 201
Question 1 1.A current liability is a debt that can reasonably be expected to be paid Answerwithin one year, or the operating cycle, whichever is longer. between 6 months and 18 months. out of currently recognized revenues. out of cash currently on hand
Indian Institute Of Management, Ahmedabad - BUS - 201
Question 1Question 1Stockholders of a corporation directly electAnswerBthe president of the corporation. the board of directors. the treasurer of the corporation. all of the employees of the corporation.Question 2Question 2A corporate board of dir