The Labor Market
In this chapter, we learn:
How a basic supply-and-demand model helps
us understand the labor market
How labor market distortions affect
employment and wages.
The causes behind rising income
Adjusted R Square
X Variable 1
1 10448371.9234 10448371.92
Class: Cost Accounting
HOMEWORK #6: 6-20 and 6-21
Units to account for:
Units in beginning work in process 10,000
Units started during the month
Total units to account for 80,000
Units counted for:
Yin Hung Chan
Cost Accounting HW#10
unit produce in March
Desired ending inv (20%)
Less: Beginning Inventory
Junes production needs
Units to be produced
D/M per unit (yards) 25
Consolidated Financial Statements - Intercompany Asset
1. On November 8, 2006, Power Corp. sold land to Wood Co., its wholly owned subsidiary. The land
cost $61,500 and was sold to Wood for $89,000. From the perspect
Segment and Interim Reporting
1. SFAS 14 required a U.S. corporation to disclose disaggregated information for
A) industry segments, geographic regions in the United States, and major customers.
B) domestic and foreign operations
Accounting for State and Local Governments, Part I
1. Which new standard issued by the Governmental Accounting Standards Board in 1999 significantly
modified fund accounting and created a second group of financial statements bas
Consolidated Financial Statements and Outside Ownership
1. A noncontrolling interest is most likely to be shown as part of equity under the
A) partial equity concept.
B) Proportionate consolidation concept.
C) economic unit conce
Intercompany Debt, Consolidated Statement of Cash Flows, and Other
1. On January 1, 2006, Riley Corp. acquired some of the outstanding bonds of one of its subsidiaries.
The bonds had a carrying value of $421,620, and Riley
Translation of Foreign Currency Financial Statements
1. In accounting, the term translation refers to
A) the calculation of gains or losses from hedging transactions.
B) the calculation of exchange rate gains or losses on indivi
Consolidations - Subsequent to the Date of Acquisition
1. Which one of the following accounts would not appear on the consolidated financial statements at the
end of the first fiscal period of the combination?
Accounting for Legal Reorganizations and Liquidations
1. A Chapter 7 bankruptcy is a(n)
A) Involuntary reorganization.
B) bankruptcy forced by a company's creditors.
D) bankruptcy in which all creditors receive p
Partnerships: Termination and Liquidation
1. What is a marshaling of assets?
A) a listing of estimated realizable values of a business's assets
B) the order in which the creditors of a partnership will be paid as partnership ass
Worldwide Accounting Diversity and International Accounting
1. The U.S. Securities and Exchange Commission (SEC) requires foreign companies that wish to have
stocks traded on U.S. stock exchanges to
A) present financia
Consolidation of Financial Information
1. At the date of an acquisition which is not a bargain purchase, the purchase method
A) consolidates the subsidiary's assets at fair market value and the liabilities at book value.
The Equity Method of Accounting for Investments
1. Gaw Company owns 15% of the common stock of Teal Corporation and used the fair-value method to
account for this investment. Teal reported net income of $110,000 for 2005 and paid
Consolidated Financial Statements - Ownership Patterns and Income
Use the following to answer questions 1-3:
Buckette Co. owned 60% of Shuvelle Corp. and 40% of Payle Corp., and Shuvelle owned 35% of Payle.
1. When Buckette
Partnerships: Formation and Operation
1. Cherryhill and Hace had been partners for several years, and they decided to admit Quincy to the
partnership. The accountant for the partnership believed that the dissolved partnership an
Financial Reporting and the Securities and Exchange Commission
1. Which one of the following is not listed in the text as a division of the SEC?
A) the Division of Corporation Finance.
B) the Division of Investment Management.
Accounting for State and Local Governments, Part II
1. For government-wide financial statements, what account is credited when a piece of equipment is
leased on a capital lease?
A) Equipment Capital Lease
B) Encumbrances Long Te
Foreign Currency Transactions and Hedging Foreign Exchange Risk
1. Pigskin Co., a U.S. corporation, sold inventory on credit to a British company on April 8, 2007.
Pigskin received payment of 35,000 British pounds on May 8, 2007.
Accounting for Not-for-Profit Organizations
1. Reciprocal transfers where both parties give and receive something of value are
A) contributed services.
B) unconditional promises to give.
C) endowment transactions.
D) exchange tr
Accounting for Estates and Trusts
1. When a person dies without leaving a valid will, how is the distribution of his or her property
A) in accordance with federal inheritance laws.
B) in accordance with generally acc
Most multiple choice
Some True and False
What is involved in preparing a bank recon?
How do deposits in transit effect a bank rep?
How NSFs effect bank rec?
What does depreciation do?
What is book value?
What costs are considered to be capiti
Chapter 5 Homework Assignment Statement of Cash Flow
Selected financial statement information and additional data for Johnston Enterprises is
presented below. Be sure to read the additional information and the hints before proceeding.
Prepare a statement
For the year ended June 30, 2012
Less: Sales discount
Sales returns and allowance
Net Sales revenue
Cost of Goods Sold