Name: _ Date: _ Problem Set Chapter 8 (5 POINTS EACH) Accounting 2303
1. FIFO and LIFO inventory methods. During June, the following changes in inventory item 27 took place: June 1 Balance 1,400 units @ $24
14 Purchased 800 units @ $36
Name: _ Date: _ PROBLEM SET CHAPTER 12 (5 POINTS EACH) ACCOUNTING 2303 1. How are limited-life intangibles accounted for subsequent to acquisition?
2. Intangible assets theory. It has been argued on the grounds of conservatism that all intangible assets s
CHAPTER 6 Accounting and the Time Value of Money
1. 2. 3. 4. 5. 6. 7. 8. 9. *10. Identify accounting topics where the time value of money is relevant. Distinguish between simple and compound interest. Use appropriate compound interest
CHAPTER 7 Cash and Receivables LEARNING OBJECTIVES
1. 2. 3. 4. 5. 6. 7. 8. 9. *10. Identify items considered as cash. Indicate how to report cash and related items. Define receivables and identify the different types of receivables. Explain accounting iss
PROBLEM SET CHAPTER 6 Name: _ Date: _ Accounting 2303 1. On the right are six diagrams representing six different present and future value concepts stated on the left. Identify the diagrams with the concepts by writing the identifying letter of the diagra
Name: _ Date: _ PROBLEM SET CHAPTER 7 ACCOUNTING 2303
1. Asset classification. Below is a list of items. Classify each into one of the following balance sheet categories: (5 points) Navigate using mouse pointer. Do NOT hit ENTER key. a. Cash c. Short-term
Name: _ Date: _ PROBLEM SET CHAPTER 9 ACCOUNTING 2303 (5 POINTS EACH) 1. Lower-of-cost-or-market. For each case below, determine the unit value that should be used for inventory costing following "lower of cost or market value" as described in ARB No. 43.
NAME: DATE: PROBLEM SET CHAPTER 10 ACCOUNTING 2303 1. During 2006 and 2007, Gorman Corporation experienced several transactions involving plant assets. A number of errors were made in recording some of these transactions. For each item listed below, indic
Name: _ Date: _ PROBLEM SET CHAPTER 11 ACCOUNTING 2303 (5 POINTS EACH)
1. True or False. Place T or F in front of each of the following statements. _ 1. The straight-line method of depreciation is based on the assumption that depreciation expense c