Midterm1 Fa2009 - 6A:002 Fall 2009 Midterm 1 Page 1 Name...

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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 carry-through 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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6A: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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Midterm1 Fa2009 - 6A:002 Fall 2009 Midterm 1 Page 1 Name...

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