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ACCT 2331 - U. Houston Study Resources
  • 8 Pages Old Exam Ron Lazer
    Old Exam Ron Lazer

    School: U. Houston

    Course: Financial Accounting

    ACCT 2331 Review Final Exam Dr. Ron Lazer Source: Old Exams 1.Which of the following is not a characteristic of Bonds? A. Payment of interest to bondholders is required B. They are not secured by any specific assets of the corporation C. Bondholders have

  • 7 Pages Course Project
    Course Project

    School: U. Houston

    Course: Financial Accounting

    ACCT2331: Internet Financial Statement Analysis Ratio Project November 2009 The goal of this assignment is for you to experience finding out relevant accounting and other information about a corporation as if you were an investor. You will find out that i

  • 5 Pages Review Questions from Lectures
    Review Questions From Lectures

    School: U. Houston

    Course: Financial Accounting

    Chapters 1-3 Questions From Lectures Dr. Ron Lazer Many organizations have contributed to the process of creating and/or using generally accepted accounting principles. Which of the following organizations has the primary responsibility today for formulat

  • 2 Pages 3366 HW2(1)-2
    3366 HW2(1)-2

    School: U. Houston

    Course: Financial Accountin

    3366 Homework 2 The trial balance of My Motor, Inc. on March 1, 20XX, lists the entitys assets, liabilities, and owners equity on that date. Account Title Cash Accounts receivable Accounts payable Common Stock Retained earnings Total Balance Debit Credit

  • 3 Pages Exam 1 Review
    Exam 1 Review

    School: U. Houston

    Course: Financial Accounting

    The entry to record the issuance of 1,000 shares of $1 par value common stock at $10 per share includes a: A) credit to Common Stock for $10,000. B) debit to Common Stock for $1,000. C) credit to Paid-in Capital in Excess of Par ValueCommon for $9,000. D)

  • 2 Pages quiz chpt 2 key (1)
    Quiz Chpt 2 Key (1)

    School: U. Houston

    Course: Financial Accounting

    NAME _ (1 point) PS# _ 1. (12 points) Journalize the following transactions for Laid back Law Inc. a. Performed legal services for a client on account for $7,800 on. Accounts Debit Credit Accounts Receivable 7,800 Service revenue 7,800 b. Received a cash

  • 2 Pages quiz 6 key
    Quiz 6 Key

    School: U. Houston

    Course: Financial Accounting

    QUIZ 6 ACCT 2331: NAME _ I PS#_ Answer the following questions true or false by putting a X in the T or F box T F F 35 points 1.In a corporation shareholders elect the chief executive officer. T (the CEO is appointed by the board of directors) 2.In a corp

  • 2 Pages quiz 3 chpt 4 5 key (2)
    Quiz 3 Chpt 4 5 Key (2)

    School: U. Houston

    Course: Financial Accounting

    NAME 1. (2 points)PS# The unadjusted trial balance of the Allowance for Uncollectable Accounts is a credit balance of $4,500, Net Credit Sales are $1,500,000, and the ending balance of Accounts Receivable is $330,000 A. If bad debts are estimated to be 2%

  • 1 Page Solution_Quiz#3_%28Ch4%29
    Solution_Quiz#3_%28Ch4%29

    School: U. Houston

  • 7 Pages Final exam Practice questions
    Final Exam Practice Questions

    School: U. Houston

    Course: Financial Accounting

    A2331 Final Exam- 33 More Practice Questions (additional to course compass) : 1. Which of the following is not a characteristic of debenture Bonds? A) payment of interest to bondholders is required B) they are not secured by any specific assets of the cor

  • 4 Pages A2331_Spring_Syllabus%20Revised
    A2331_Spring_Syllabus%20Revised

    School: U. Houston

    ACCOUNTING 2331 SYLLABUS SPRING 2011 (REVISED) COURSE OBJECTIVE: To investigate the accounting techniques and results in financial accounting and reporting. You will be introduced to the generally accepted accounting principles for financial reporting. RE

  • 1 Page The Financial Statements
    The Financial Statements

    School: U. Houston

    Course: FINANCIAL ACCT

    The Financial Statements Chapter 1 -Learning Objective 1 Use accounting vocabulary The Language of Business Measures business activities Processes data into reports Communicates results to financial statement users Users of Accounting Information Individu

  • 2 Pages Learning Objective Two
    Learning Objective Two

    School: U. Houston

    Course: FINANCIAL ACCT

    Learning Objective Two -Learn the underlying concepts, assumptions and principles of accounting Conceptual Foundations Accountings objective Enhancing Qualitative Characteristics Fundamental Qualitative Characteristics Constraints Assumptions & Principles

  • 1 Page Learning Objective Three
    Learning Objective Three

    School: U. Houston

    Course: FINANCIAL ACCT

    Learning Objective Three Apply the accounting equation to business organizations -Accounting Equation Elements Assets Economic resources Product future benefit Liabilities Outsider claims Debts payable to others (creditors) Owners equity Insider c

  • 2 Pages Learning Objective Four
    Learning Objective Four

    School: U. Houston

    Course: FINANCIAL ACCT

    Learning Objective Four Evaluate business operations The Financial Statements Income Statement Statement of Retained Earnings Cash Flow Statement Balance Sheet The Income Statement Also called the Statement of Operations Reports two main categories

  • 2 Pages Learning Objective Five
    Learning Objective Five

    School: U. Houston

    Course: FINANCIAL ACCT

    Learning Objective Five Use information in financial statements to make business decisions, which are informed by economic, legal and ethical guidelines Relationships between Financial Statements Income Statement For the year ended December 31, 2010 Reven

  • 3 Pages Chapter 7 review
    Chapter 7 Review

    School: U. Houston

    Course: FINANCIAL ACCT

    Chapter 7 Determining the cost of plant assets Capital expenditure or expense -Using 3 depreciation methods Change in estimate Accounting for disposal of plant assets Natural resources and depletion Intangible assets and amortization Accounting for Good

  • 3 Pages Chapter 6 review
    Chapter 6 Review

    School: U. Houston

    Course: FINANCIAL ACCT

    Chapter 6 2. The following statements regarding perpetual inventory and periodic inventory methods of handling merchandise are all correct except (choose one): a. A perpetual inventory method makes it unnecessary to take a physical count of inventory on

  • 3 Pages Exam 2 Review
    Exam 2 Review

    School: U. Houston

    Course: Financial Accounting

    Both the par value of the stock and the additional paid-in capital are part of: A) retained earnings. B) legal capital. C) paid-in capital. D) stated value. Answer: C The entry to record common stock issued at its par value includes a: A) debit to the Com

  • 2 Pages Exam 3 Review
    Exam 3 Review

    School: U. Houston

    Course: Financial Accounting

    Which statement below regarding treasury stock is TRUE? A) Treasury stock transactions have no effect on assets and equity. B) Purchasing treasury stock decreases assets and equity. C) Issuing treasury stock decreases assets and equity. D) Issuing treasur

  • 3 Pages Example Final
    Example Final

    School: U. Houston

    Course: Financial Accounting

    Unrealized gains and losses from available-for-sale investments arise from: A) the sale of the investment. B) changes in the market value of the investment. C) both the sale of the investment and changes in the market value of the investment. D) none of t

  • 5 Pages Internal Control and Cash
    Internal Control And Cash

    School: U. Houston

    Course: Financial Accounting

    Fraud is an intentional misrepresentation of facts, made for the purpose of persuading another party to act in a way that causes injury or damage to that party. Fraud is a huge problem and is getting bigger, not only in the United States, but across the g

  • 15 Pages Quiz 1 + Result
    Quiz 1 + Result

    School: U. Houston

    Course: Financial Accounting

    Are you ready? 1. Yes 2. More than ready 0% 0% Which business form limits the personal liability of its owner(s)? 1. Proprietorship 2. Partnership 3. Corporation 4. All of the above 0% 1 0% 2 0% 3 0% 4 Double taxation is a disadvantage associated with 1.

  • 5 Pages Plant Assets & Intangibles
    Plant Assets & Intangibles

    School: U. Houston

    Course: Financial Accounting

    Plant assets 1. Land 2. Buildings 3. Equipment 4. Furniture and Fixtures 5. Land Improvements 6. Natural Resources Intangible assets 1. Patents 2. Copyrights 3. Trademarks/trade names 4. Franchises/licenses 5. Goodwill Businesses use several types of long

  • 3 Pages Liabilities
    Liabilities

    School: U. Houston

    Course: Financial Accounting

    Current Liabilities Obligations due within one year Two types: Known amounts Estimated amounts Accrued Liabilities Result from expenses incurred but not yet paid Categories: Salaries and wages payable Interest payable Income taxes payable Payroll: Ma

  • 3 Pages Inventory and Cost of Goods Sold
    Inventory And Cost Of Goods Sold

    School: U. Houston

    Course: Financial Accounting

    Specific Unit Cost We know exactly what we paid for each chair and record faithfully inventory costed at specific price of the particular unit Straightforward for accounting but expensive to implement for most businesses Good for unique inventory items A

  • 3 Pages Short term investments and Receivables
    Short Term Investments And Receivables

    School: U. Houston

    Course: Financial Accounting

    Short term investments: Also called marketable securities Can be debt or stock of another company May earn interest or dividend Easily convertible into cash Expected to be held one year or less If categorized as trading security, it needs to be marked t

  • 3 Pages Stockholders’ Equity
    Stockholders’ Equity

    School: U. Houston

    Course: Financial Accounting

    Organizing a corporation Corporate organizers (incorporators) obtain a charter from the state Charter includes authorization to issue shares of stock Incorporators: Pay fees Sign the charter File documents with the state Agree to a set of bylaws Clas

  • 15 Pages Quiz 2 + Results
    Quiz 2 + Results

    School: U. Houston

    Course: Financial Accounting

    1 Channel66 1. Yes 2. no 98% 2% 2 Inaccrualaccounting,revenuesare recordedwhen: A.theyareearned. B.whencashis received. C.whentheorderis received. D.anyoftheabove occur. 0% 0% 0% 0% 3 Cashbasisaccounting: A.recordsrevenueswhen earned. B.recordsexpenseswhe

  • 6 Pages Accrual accounting
    Accrual Accounting

    School: U. Houston

    Course: Financial Accounting

    Accrual accounting records the impact of a business transaction as it occurs. When the business performs a service, makes a sale, or incurs an expense, the accountant records the transaction even if it receives or pays no cash. Chapter 3 focuses on accrua

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