Practice_Mid_Term1

Calculators which have the capability to store text

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Unformatted text preview: Calculators which have the capability to store text are not allowed to be used. During exams, all cell phones, PDAs and portable media players must be kept in backpacks or carrying cases that are placed on the floor. 7. Please arrange a l l 6 p ages in proper order and staple them before turning in the exam (stapler will be provided). 1 Q u es t i o n 1 : Dr. David Medford started a company called Medford Corporation on January 1st, 2008. The annual reporting period ends on Dec. 31st, 2008. During year 2008 the following transactions have occurred: (a) On January 2nd, 2008, Dr. Medford contributed $55,000 cash to the business and received 5,000 shares of capital stock. (b) On January 8th, 2008, Medford Corporation purchased a service truck for $30,000, paid half of the amount in cash and the rest on credit. (...
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This note was uploaded on 11/01/2013 for the course BUS 70-122 taught by Professor Sunez during the Fall '11 term at Carnegie Mellon.

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