Final Fa2009 - 6A:002 Fall 2009 Final Exam Page 1 Name...

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6A:002 Fall 2009 – Final Exam Page 1 Name (print) ________________________________ Student ID # ________________________________ Class day/time ______________________________ 6A:002 Managerial Accounting Fall 2009 Final Exam Instructions: 1. This exam contains 40 questions. Each question is worth 2 1/2 points. There are 100 total points on the exam. 2. There is no partial credit. But, in some cases we may look for carry-through errors. Show your work clearly so that you, and we, can understand the logic of what you are doing. 3. Round numbers bigger than 1,000 to the nearest whole number. Round numbers less than or equal to 1,000 to four decimal places. 4. Write your answers on the appropriate lines on the answer sheet on the last page of the exam. 5. This is a "closed book, closed notes" exam. You may NOT use your book, notes, or any other references during the exam. 6. You have two hours to complete the exam. 7. This exam has 22 pages including this cover sheet (don’t be alarmed – there’s lots of extra room to write and several pages of tables). Check your exam and notify the proctor if pages are missing. 8. The proctor can answer simple questions clarifying the English language. Other types of questions will not be answered. 9. Remember - You need only a pencil, eraser, and simple calculator for this exam. Using or viewing any other material, including cell phones, will be considered cheating regardless of the circumstances . In such cases, you will receive 0 points for the exam. After completing your exam, sign and date the Honor Pledge below. If you cannot truthfully sign the pledge, you must contact your professor or a proctor before handing in your exam. On my honor, I pledge that during this examination I neither gave nor received any assistance. __________________________ _____________ ________________ Signature Date ID
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6A:002 Fall 2009 – Final Exam Page 2 Remember When necessary, round your answers. Round numbers bigger than 1,000 to the nearest whole number. Round numbers less than or equal to 1,000 to four decimal places. Write your answers on the answer sheet on the last page of the exam. 1. Toys Galore is concerned about the impact of the economy on its cash collections and wants to make sure it will have enough cash on hand to purchase inventory for Christmas sales. Its owner made the following sales estimates for the months leading up to its Christmas rush. August September October November December Sales $90,000 $80,000 $140,000 $175,000 $250,000 Based on past experience and current economic trends, Toys Galore expects only 40% of its sales to be cash sales. The rest will be credit sales. Collections of credit sales are estimated to occur as follows.
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Final Fa2009 - 6A:002 Fall 2009 Final Exam Page 1 Name...

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