Intermediat Accounting II
Test 3 (chapters 20-23
Problem 1 (33 points) National Airlines. enters into a lease agreement as lessee on October 1,
2012, to lease an airplane. The term of the noncancelable lease is eight years and payments ar
TB 07-119 ABC Inc. is a Canadian company that reports its re.
ABC Inc. is a Canadian company that reports its results in Canadian dollars. The company sold equipment to a customer in the U.S.
for $95,000 US on January 1, 2013 when the exchange rate w
TECEP Test Description
Principles of Financial Accounting
This TECEP is an introduction to the field of financial accounting. It covers the accounting cycle, merchandising concerns,
and financial assets as well plant assets, liabilities and sto
Chapter 6 Questions
1. The conceptual framework of accounting helps to ensure that
A. users with no accounting or business knowledge will understand financial statements.
B. a rule will be in place for every possible situation.
C. there are consistent sta
1. Which of the following statements pertaining to joint ventures is TRUE?
A. A joint venture must have a contractual arrangement establishing joint control over the venture.
B. It must be accounted for using the Cost Method.
C. It must be r
Assignment Print View
The effect of a rights offering on a shareholder is
to increase his/her wealth.
to increase his/her wealth only if the new stock is purchased.
to decrease his/her wealth unless the stock
TB 04-97 The six steps of the problem-solving approac.
The six steps of the problem-solving approach to choosing among accounting alternative are listed below
alphabetically. List them in the correct order.
Analyze the accounting
Dr. M. D. Chase
MARK THE LETTER OF THE BEST ANSWER ON YOUR SCANTRON FORM.
1._ A business combination is accounted for appropriately as a pooling
of interests. Costs of furnishing the information to the
stockholders related to
AFM391 Intermediate Accounting 2
Sample Midterm Exam
This exam has 8 numbered pages including this cover page. Please make sure your
exam is complete.
All solutions shall be prepared based on IFRS unless it is stated otherwise.
FINANCIAL ACCOUNTING FINAL EXAMINATION
Sample Exam for Practice Only
Time: 3 hours
Each question is worth 2 marks.
1. The journal entry to record a return of merchandise purchased on account under a periodic
Sample Final Questions
(Note: These are mostly multiple choice, for extra practice.
Your Final Exam will NOT have any multiple choice!)
Part A - Multiple Choice
Indicate the best choice for each question in the indicated space. Each correct
THE 2010 Fall ACCOUNTING TRIBE
The First Scrimmage
Name (Please Print)
By signing my name below, I am promising that:
The work I complete is my own,
I did not and will not give aid to others,
I will n
THE 2008 Fall ACCOUNTING TRIBE
The Final Battle
Thank you for an enjoyable quarter.
Good luck in your future studies at Ohio University. Feel free to stop in to ask questions
or just visit as you continue your studies. If an accounting majo
Sample Test for Management Accounting
Multiple Choice Identify the letter of the choice that best completes the statement or answers the question.
1. Which phrase best describes the current role of the managerial accountant? a. Managerial accountants prep
1st Year Examination
Exam Paper, Solutions & Examiners Report
1st Year Paper
NOTES TO USERS ABOUT THESE SOLUTIONS
The solutions in this document are published by Accounting Technicians Ireland. T
E14-16 (Premiums) Presented below are two independent situations.
In packages of its products, ITSS Inc. includes coupons that maybe presented at
retail stores to obtain discounts on other ITSS products. Retailers are reimbursed for the
fare amount of
COMPREHENSIVE EXAMINATION C
Problem C-I Multiple Choice Tangible and Intangible Assets.
Choose the best answer for each of the following questions and enter the identifying
letter in the space provided.
_ 1. When the sum-of-the-year
FORMATION 2 EXAMINATION - APRIL 2012
You are required to answer Question 1. You are also required to answer any three out of Questions 2 to 5.
(If you provide answers to all of Questions 2 to 5, you must draw a clearly distingu
Intermediate Accounting II, ACCT 3322
Review Questions for Final Exam
1. On September 1, 2002, Spencer Company stock was selling for $60 per shares. The
companys capital accounts were as follows:
Capital stock, par value, $25
50,000 shares issued and ou
JUNE 2012 EXAMINATION
D1. Financial Accounting
Instructions to candidates
1. Time allowed is 3 hours and 10 minutes, which includes 10 minutes reading time.
2. This is a closed book examination.
3. Use of a silent, non-programmable calculator, which is
Prepare December 31, 2000, adjusting entries for English
$1,800. The ledger reflects a balance in the office supplies
Intermediate Accounting II
Test 1 Chapters 14-16
1. On July 1, 2010, Spear Co. issued 1,000 of its 10%, $1,000 bonds at 99 plus accrued
interest. The bonds are dated April 1, 2010 and mature on April 1, 2020. Interest is payable
During the course of your examination of the financial statements of Simpson Corporation for the year
ended December 31, 2011 you found a new account, investments. Your examination revealed that
ACCOUNTING COMPETENCY EXAM
The accounting process does not include:
all of the above
statement of owners equity
both b and c
all of the above
This account does not appear o
Chapter 16 Questions
1. Deferred income tax liabilities are amounts owed to the government.
2. The phrase "provision for income taxes" encompasses both income tax expenses and liabilities.
3. Deferred taxes appear on a company's bala
- You have 120 minutes to complete the exam. Please use your time efficiently.
- This exam contains 11 pages. Please make sure your copy is not missing pages.
- If necessary, make