ACCT 300B Intermediate Accounting Spring 2016 Quiz #4a (Ch. 16) 10 points
1. A company should allocate the proceeds from the sale of debt with detachable stock warrants
between the two securities based on their market values.
Revised October 6, 2011
Financial Statement Ratios
Profitability ratios: Indicate the ability to retain earnings or create growth after
Gross Margin Percentage: Gross Margin
Gross Margin = Total Revenue Cost of Good Sold.
April 24, 2012
FASB had four primary goals in developing the codification. List these four goals.
1) Simplify user access to all authoritative U.S. GAAP
2) Assist FASB with research and international convergence efforts required during the
ACCT 300B Intermediate Accounting Fall 2016 Pre-Quiz#5a (Ch.17) 10 points
Unrealized holding gains or losses which are recognized in income are from securities classified as
Ch.18 - Additional Problem
Camden Company has a contract to construct a $675,000 bridge at an estimated cost of
$600,000. The contract is to start in July 2013, and the bridge is to be completed in October
2015. The following data pertain to the
ACCT 300B Intermediate Accounting Fall 2016 Pre-Quiz#6a (Ch.18) 10 points
Most revenue transactions pose few problems for revenue recognition because often the transaction is initiated
and completed at the same time.
ACCT 300B Intermediate Accounting Fall 2016 Pre-Quiz#7a (Ch.19) 10 points
Taxable income is a tax accounting term and is also referred to as income before taxes.
Pretax financial income is the amount used to compute i
ACCT 300B Intermediate Accounting Spring 2016 Quiz#3a (Ch.15) 10 points
1. When treasury stock is purchased for more than the par value of the stock and the cost
method is used to account for treasury stock, what account(s) should be debite
Review Problems for Exam I
(a) Roland Co. began operations on January 1, 2005. It employs 20 people who work 8-hour days. Each
employee earns 10 paid vacation days annually. Vacation days may be taken in the year following the
ACCT 300B Intermediate Accounting Spring 2016 Quiz#2a (Ch.14) 10 points
1. When bonds are sold at a discount and the effective interest method is used, at each interest
payment date, the interest expense: (1 pt)
Ritter Company has 35 employees who work 8-hour days and are paid hourly. On January 1,
2015, the company began a program of granting its employees 10 days' paid vacation each year.
Vacation days earned in
ACCT 300B Intermediate Accounting Spring 2016 Quiz#1a (Ch.13) 10 points
1. Which of the following is a contingency that should be accrued? (1 pt)
A. The company is being sued and a loss is reasonably possible and reasonably estimable.
It is listed under other income (expenses) section
after operating income.
It is reported separately with other incomes (expenses).
Other icome (expenses) are reported separate