Chapter 1
I.
Importance of Accounting
Providing information about what businesses own, what they owe, and how they perform is an
important aim of accounting.
Accounting is an information and measurement system that identifies, records, and communicates
re
Chapter 1
Cash versus Accrual Accounting and
Full-disclosure principle
Cash versus Accrual Accounting
Cash Basis Accounting
Revenue is recognized when cash is received.
Expenses are recognized when cash is paid.
O
R
O
OR
R
O
R
Accrual Accounting (GENERALI
Example of Direct Method
DRESS RIGHT CLOTHING CORPORATION
Statement of Cash Flows
For the Month of July 2016
Cash Flows From Operating Activities:
Cash inflows:
Receipts from customers
Receipts from tenant
Cash outflows:
Payments for rent
Payments for sup
SAMPLE FINANCIAL STATEMENTS, DISCLOSURE NOTES
AND
SUPPLEMENTARY INFORMATION December 31,
Assets
Current Assets:
Cash and cash equivalents (Notes 2 and 3)
Receivables (Note 4)
Prepaid expenses (Note 5)
Total Current Assets
Reserve fund investments (Notes 2
Industry Ratio Sources
The purpose here is to remind you of what we have covered in class on industry ratio sources. The AGEC
424 website has a term project page containing a link to the AGEC 424 page at the MEL (Parrish) Library.
On that page are links t
Accounting Test#1 (Good Luck)
Multiple: (1-29) 2pts (+5pt bonus if all multiple choice problems are correct)
1) The type of business organization that has one owner is known as a:
A) sole proprietorship.
B) partnership.
C) corporation.
D) None of the abov
Part 1: 8 multiple choice questions worth 6 points each (Bonus: +6 extra points if all 9 questions are
correct)
1) Which of the following accounts is not a temporary account?
A) Withdrawals
B) Repair Fees
C) Account Payable
D) Income Summary
E) Depreciati
Multiple: (1-15) 4pts [Note: 5pt bonus if all 15 are correct]
1) The type of business organization that has two or more owners is known as a:
A) sole proprietorship.
B) partnership.
C) corporation.
D) None of the above
2) Bobs Dentist would be considered
Final Exam Score:
Second
Examination
Term: _Summer_
Student name:
_ _
(Middle names)
(First name)
Course title_
Year: _2016_
_
(Last name)
Fundamentals of Accounting 1_
Name of instructor(s): _Mr. Yu Peng_
Date of exam: _11/08/2016_
Exam period start time
07.4.
Rex Lai is a sole proprietor who keeps recorded of his cash and bank transactions in a two-column cash
book. The balances in the cash book at 1 March 2007 were: cash $16 400 and bank overdraft $4590. in
addition, a petty cash imprest amount of $5000
Part 1: 10 multiple choice questions worth 4 points each (Bonus: +5 extra points if all 10 questions are correct)
1) If Becky worked 39.5 hours, how many hours of overtime will she earn?
A) 0
B) .5
C) 40
D) 39.5
2) John Tristan's regular rate of pay is $1
Accounting 2 Final Examination (Wish everyone the best of luck)
Section 1: 34 Multiple Choice (Do 30 out of the 34 Multiple Choice Problems) 1.5pt each
1) Toyota would be considered a:
A) merchandise company.
B) manufacturer company.
C) service company.
D
Mini-Practice Set 1
Service Business Accounting Cycle
p. 186
Wells' Consulting Services
This project will give you an opportunity to apply your knowledge of accounting
principles and procedures by handling all the accounting work of Wells'
Consulting Serv
Accounting 2 Quiz#1 (Good Luck)
Part 1: 15 Multiple Choice (60 pts)
1) Which of the following accounts would appear on the balance sheet?
A) Insurance Expense
B) Rent Expense
C) Book Fees
D) Prepaid Insurance
E) Both A and D are correct
2) Which of the fo
Shelly Cashman Excel 2013
Chapter 4: SAM Project 1b
Cate's Confections
FINANCIAL FORMULAS AND FORMATTING WORKSHEETS
Author:
Salome Jojua
Note: Do not edit this sheet. If your name does not appear in cell B6, please download
a new copy of the file from the
Algebra
Express each phrase as an algebraic expression.
1. 4 more than the difference of 17 and a
number f
2. a fourth of the product of 49 and a number
y
3. 10 less than 31 times a number h
4. take away a number d from 32
5. 4 times the quotient of 12 an
Translating Verbal Statements into Equations
(Answer ID # 0523803)
Express each of the following problems algebraically.
(Hint: Use n as the unknown number and create an equation from the problem.)
1. five times a number equals 2. ten times a number, less
Part 1: Algebra with Multiplication and Division Signs
1
a.
w 7 = 2
1 b.
z 4 = 16
2
a.
7 z = 84
2
b.
z 8 = 0
3
a.
b 3 = 0
3 b.
s 4 = 12
4
a.
v 9 = 18
4 b.
a 9 = 72
5
a.
9 s = 108
5 b.
y 9 = 18
6
a.
s 2 = 10
6 b.
d 8 = 7
7
a.
n 1 = 5
7 b.
6 w = 18
8
a.
z 1
1. When a spherical balloon is filled with air, it has a diameter of 6 inches. Which of the
following gives the best estimate for the volume of air in the balloon, in cubic inches?
A 63.6
B 108.0
C 113.1
D 150.8
2. Two rectangles are similar and the dimen
Place Value
Write each number in standard form.
1. 4 millions 6 hundred thousands 9 ten
2.
thousands 1 thousand 1 hundred 3 tens 1
one
3. seventeen million, nine hundred thirty-four 4.
thousand, eight hundred seventy-five
5. nine hundred thirty million, f
Line Graphs
Complete.
1.
Attendance
a. Between which two games was there the
greatest increase in attendance?
b. How many more people came to game #3
than to game #4?
c. Which games(s) did not have an
attendance of at least 400 people?
2.
Temperature at 1
Accounting Test #2 (Wish everyone the best of luck)
Multiple Choice(1-30) 1.5pts per each MC question
1) A ledger:
A) is a group of accounts and their balances.
B) can replace the financial statements.
C) is the same as a chart of accounts.
D) None of the