MTA Reflection Paper
I attended the Meeting Accounting Night as last year, but I learned different things this time.
The overall meeting went very well for me, and I met almost every HR in the meeting.
I can remember my performance o
Group one Problem
Required: Spread sheet and financials using the banks provided
Your Company's transactions:
REVIEW OF FINANCIAL STATEMENTS
The Basics of Business and Financial Statements
For financial statement reporting purposes, business events are categorized into three types:
financing, investing, and operating events. When a business is started financing m
Company - Trial Balance for
the year ended 12-31-09
Accrued interest payable
Allowance for doubtful accounts
Bad debt expense
Quiz #1 review sheet
Note: You are responsible for all the material in the chapters and material covered in homework and class.
Committed FC- Investments in equipment, facilities etc. cant be significantly reduced
1. Differential costs can:
A) only be fixed costs.
B) only be variable costs.
C) be either fixed or variable.
D) be incremental but not decremental.
2. Fixed costs expressed on a per unit basis:
A) will increase with increases in activity.
B) will decreas
Regulated comply with GAAP
Total Entity focus
- Financial measures largely historical
o Internal users
o Unregulated timeliness over precision
o Look at subunits
o Both Financial and non-finan
Final Exam Practice Solutions
1. Fixed per unit but variable in total
2. a sunk cost
3. will react inversely with changes in activity
4. a period cost that is fixed in terms of cost behavior
5. Beg. RM 10,000 + Purchases 18,000 Ending RM 12,000 = $16,000
FINAL EXAM PRACTICE
1. The cost of direct materials is
fixed per unit but variable in total.
variable per unit (due to quantity discounts offered by vendors) and in total.
variable per unit but fixed in total.
fixed per unit and in total.
2. The amount pa
Quiz #2, Spring 2012
Chapters 5 & 6
The review problem at the end of each chapter are excellent and I strongly urge you to review them.
You are responsible for all material covered in class and in the homework. Attach no importance to the fact tha
COB 242, Exam #2 Practice
ABC, Inc. produces and sells toy cars. The company has prepared the following first quarter production
Each car requires F
The Clayton Company uses a standard cost system in which manufacturing overhead costs are applied to units of the
company's single product on the basis of direct labor-hours (DLHs). The standard cost card for the product follows:
1. The following costs were incurred in September:
Conversion costs during the month totaled:
2. Buckeye Compan
Finance and Investment
Inherent Risk is HIGH due to
Problem Areas include
Leases: capital versus operating
Leases: lessee versus lessor
Loan Covenants requiring working capital
minimums or current ratio mini
Test III Review
Chapters 19, 20, and 22
Julie Dailey CVCC
Chapter 19 Job Order Costing
Job order is used when the product is
specific and customized
Process is used when the products are all
In both costing systems, you add direct
Stockholders are the owners of the company
Limited liability for stockholders
Articles of Incorporation and the Board of Directors
Harder and more costly to form that sol