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6A:002 Fall 2009 – Midterm 1
Page 1
Name (print) ________________________________
Student ID # ________________________________
Class day/time
______________________________
6A:002
Managerial Accounting
Fall 2009
Midterm 1
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 carrythrough errors.
You should 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, cell phones,
programmable calculators, or any other references during the exam.
6.
You have two hours to complete the exam.
7. This exam has 18 pages including this cover sheet (most of this is blank space for you to use in
analyzing the problems).
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 and not allowed to replace the
grade.
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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View Full Document6A:002 Fall 2009 – Midterm 1
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. Wilson Enterprises is a merchandising firm.
In the list below, circle the items you would not
expected to see on its balance sheet.
Then write the associated letter codes for those items on your
answer sheet.
a.
Accounts Receivable
b.
Cash
c.
Office Rent Expense
d.
Prepaid Expenses
e.
Raw Materials Inventory
f.
Sales Revenue
g.
Work In Process Inventory
Use the following information about Century to answer questions 2 through 5.
Century Publishing is a small company that produces and sells textbooks for colleges and
universities.
Over the past five years, there has been a dramatic increase in the used textbook
market.
This change has caused Century’s sales of new textbooks to drop significantly.
To replace these lost revenues, Century has decided to offer a new product:
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