True or False. Write T or F. 2 points each.
1. _The par value of stock refers to its value on the open market.
2. _No entry is required on the date of record for a cash dividend.
3. _Stockholders who own preferred stock usually have voting righ
Multiple choice. Write the letter of the best answer. 3 points each.
The calculation of accounts payable turnover
a. requires that you first calculate purchases for the numerator of the ratio.
b. may provide information about the liquidity
CHAPTER 13, Accounting for Corporations
Discuss importance of corporation, distinguish from sole proprietorship.
- define stock as evidence of ownership, note voting rights. who do they vote for?
- note advantages of a corporation, emphasize artificial pe
Office Number: 330-471-8192
Home Number: 330-493-8874
before 10 p.m.
Course prefix and number: Acct 212-1 (11:00 AM MWF) and ACCT212-2 (9:00AM MWF)
Chapter 11 Current Liabilities and Fair Value Accounting
Review organization of text; looking at balance sheet. Current assets (Cash and A/R were in
chapters 8 and 9. Chapter 10 was fixed assets. This Chapter is covering current liabilities
ACCT 212 Chapter 12 Accounting for Partnerships
Why this is important: Partnerships are a very common form of business organization. They are very
easily formed. If you are an entrepreneur it is very likely that your first business could be organized as a
Chapter 15 The Statement of Cash Flows
Introduce Cash flows statement, discuss basic purpose, and why accrual accounting
necessitates such a statement. Ie. You can go out of business with a great looking
Look at basic model on p. 659. De
True and False. Write T or F in the blank provided. 2 pts each.
1._Cost behavior is the way prices are adjusted due to changes in costs.
2._Cost behavior is defined as the manner in which costs respond to changes in volu
Chapter 15 and 17
True or False. Write T or F in the blank provided. 2 pts each
1._Cash inflows and outflows on the cash flow statement are easier to manipulate than earnings on the
2._The statement of cash flows shows the effects on net
Multiple Choice. Write the letter of the best answer. 3 points each
1. _A company should use process costing rather than job order costing if
production is of unique items for a specific customer.
the product is
CASH FLOWS STATEMENT
OPERATING ACTIVITIES SECTION
GENERIC RULES, INDIRECT METHOD
START WITH NET INCOME:
1. ADD BACK DEPRECIATION EXPENSE TO NET
INCOME SINCE IT NEVER INVOLVES CASH OUTFLOW.
2. ADD BACK LOSSES SINCE THEY REDUCE NET
INCOME BUT DO NOT REDUCE
Values Integration Case: The Depreciation Dilemma
The process of depreciation is full of estimation and glorified educated guesses. These
guesses include the time period the asset will be used and the salvage value. As a company gains