Berkshire Threaded Fasteners Company
1. If Berkshire did not discontinue this product line, they would incur a loss of $111,000 over the
first six months of 1974, which is attributable to the 300 series. However, had they dropped the
300 series, Berkshire
1. Arctic Insulation Company uses scrap paper in addition to fiber in order to produce material
for insulation in home attics. It produces insulation by obtaining bulk paper from scrap dealers
and buying paper from the public at nominal
M EM O R A N D U M
NET PRESENT VALUE METHOD OF INVESTMENT EVALUATION
What Is Net Present Value?
The net present value method of investment evaluation is the difference between the present value
of cash infl
1. An impairment occurs when the expected future net cash flows (undiscounted)
of an asset is less than the assets carrying amount.
Review events for possible impairment.
Apply the recoverability test to determine if impairment has occurred.
Review #1 (Ch.1-4 def)
Acc 101 Spring 2017
50 multiple choice
12 from review (words for words)
38 from homework and pages
1. The basic purpose of bookkeeping is to:
A. Provide financial information about an
B. Develop the types of infor
The United States has fifty-two court systemsone for each of the fifty states, one for the District of
Columbia, and a federal system.
Judicial review- whether the laws or actions of the other two branches are constitutional.
o The United States
Law- consists of enforceable rules governing relationships among individuals and between individuals
and their society.
o They establish rights, duties, and privileges that are consistent with the values and beliefs of their
society or its rulin
IDENTIFY AND DESCRIBE 4 CONTROLS
PLACE A HEXAGON [BELOW]
BESIDE EACH CONTROL IDENTIFIED
Telephone with S/I #
DESCRIBE THE CONTRIOL ON
THE SPREADSHEET TITLED 'CONTROLS'
Filed pending reciept
of goods and return
(no display terminal s
You are reviewing a flowchart that was prepared by a staff person who is under your supervision.
The flowchart on the next page contains more than ten errors [incorrect/omitted symbols, typos, incorrect flow
These are errors in the preparation of the flow
AC 322 QUIZ
Assertions, Evidence, Audit
Risk & Materiality
Each response I point
For each of the following Isituations, identify the financial statement assertion that is being tested:
a.Determining that customers have been billed for
EXERCISES IN APPLYING THE AUDIT RISK MODEL TO A FIRMS PLANNING GUIDELINES
Suppose a firms planning audit guidelines specify the following risk level ranges for AR, RMM and DR.
The firms risk ranges, for any materiality amount, are:
1% to 5%
DILUTIVE SECURITIES &
EARNINGS PER SHARE
Can be changed to a corporate security
during some specified period of time after
Accounting issue: What is the value of equity
issued upon the conversion?
Accounting: The iss
Archer issued 4,000,000 par value, 7% convertible bonds at 99 for cash. If the bonds did not have the conversion
feature, the issue price would have been 95.
Record the issuance of the bond.
P Corp has outstanding the following:
Number of Bonds
Within a given class of stock, each share is
exactly equal to every other share.
An investors percent of ownership in a
corporation is determined by the number of
shares the investor owns in relation to the t
Kelly Company acquired $500,000 face value of the outstanding bonds of Steedly Company on January 1, 2014. The bonds pay interest semiannually on June
30 and December 31 at an annual rate of 7% and mature on December 31, 2016. The bonds were priced on the
PRESENT VALUE FACTOR FORMULAS
Bond Issue Price
FUTURE VALUE FACTOR FORMULAS
On January 1, 2014 Connelly Company
Overland Corporation is authorized to issue 250,000 shares of $1 par value common stock.
During 2010 Overland took part in the following selected transactions:
1. Issued 55,000 shares of stock at $76 per share, less costs related to the issuance of the st
Example of a zero coupon note
Face Value of Note
term of note is
Assume that Landscape issues a $102,000, four-month, zero-interest bearing note to Castle National Bank on March 1, 201
In 2014, A Corporation had the following:
Pretax financial income
The difference is due to the use of difference depreciation methods for tax and financial reporting
The statutory tax rate is:
Advanced Financial Accounting Theory
1 February 2017
Revenue Regulation Cases
Case 09-01 Velocity Cellular
The issue in this case is that we must determine whether the Power Starterpack is made
up of multiple deliverables or a single deliv
Introduction to Linear Programming
Linear Programming Problem
A Simple Maximization Problem
A Simple Minimization Problem
Issues in Management Accounting
4 February 2017
Chapter 1 HW
1. Decision analysis is a technique used by management in which statistical tools such as
decision tree analysis are applied to the mathematical models of real world problems.
ACC 747 Accounting Communications
Field Research Project Instructions
The field research instructions are to be read by their entirety. Each student is required to confirm their
understanding of the field research project.
Field Research Pr