"03-12PracticeExam-S10-

"03-12PracticeExam-S10- - Name Final Exam...

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Name Section: Final Exam Tentative Solution Management 351 Spring 2010 1. This exam consists of 20 multiple choice items and 4 problems (with several parts each). The exam is 15 pages plus this cover page. Please check to see that your exam document is complete. The point value for each type of problem is: A. MULTIPLE CHOICE 100 points B. NUMERICAL AND ESSAY PROBLEMS 100 points TOTAL POINTS 200 points 2. You have 90 minutes to complete this exam. At the end of the 90 minutes, please give me your exam document. It is important that all students cooperate in promptly turning in the exams to insure that no student has any advantage over another. 3. This exam is closed book, closed notes, no laptop--you may use your own calculator. 4. Show all of your calculations when solving numerical and essay problems. Correct answers to numerical and essay problems which are not accompanied by work indicating how the answer was derived will not receive any credit. Even if the answer can be computed in your head, indicate your thought process on paper. Partial credit will be given only where the logic and handwriting can be easily followed . 5. If you think that an additional assumption is necessary to complete a problem, clearly state your extra assumption and continue working the problem. As long as your assumption does not contradict information in the problem and is plausible/justifiable, your answer will be graded using that assumption. 6. If you have a question, please come and ask me Remember: Cash + ∆ Other Assets = L + PIC + BRE + R – X + G – L – D
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A. (100 points) MULTIPLE CHOICE ITEMS 1. Securities which could be classified as held-to-maturity are a. redeemable preferred stock. b. warrants. c. municipal bonds. d. treasury stock. C 2. Unrealized holding gains or losses which are recognized in income are from securities classified as C 3. Debt securities that are accounted for at amortized cost, not fair value, are A 4. Equity securities acquired by a corporation which are accounted for by recognizing unrealized holding gains or losses as other comprehensive income and as a separate component of stockholders' equity are A 1
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Use the following information for questions 5 and 6. On its December 31, 2010 balance sheet, Calhoun Company appropriately reported a $10,000 debit balance in its Securities Fair Value Adjustment (Available-for-Sale) account. There was no change during 2011 in the composition of Calhoun’s portfolio of marketable equity securities held as available-for-sale securities. The following information pertains to that portfolio: Security Cost Fair value at 12/31/11 X $125,000 $160,000 Y 100,000 95,000 Z 175,000
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