The audit of KBC Solutions by Carlson and Smith, CPAs, was scheduled to end on February 28,
2016. However, Rick Carlson was uncertain whether it could happen. As the review partner, he had
just completed going over the work paper files of the senior audit
Using the child abuse scandal at Penn State discussed in Chapter 1, explain the
actions that would have been taken by Joe Paterno if he had been reasoning
at each stage in Kohlbergs model and why.
Level 1 Preconventional
Stage 1: Obedience to Rule; Avoida
Barbara is working on the audit of a client with a group of five other staff-level employees. During the
audit, Diane, a member of the group, points out that she identified a deficiency in the clients
inventory system that she did not discover during the
CH.1 Ethical Reasoning
Religious and Philosophical Foundations of Ethics
- Treat others the way we would want to be treated
- Be honest with others and expect the same in return
Ethics: custom or character How we act when no one is looking
Chapter 2 Quiz
1. Credits.DECREASE ASSESTS AND INCREASE LIABILITIES
2. Which of the following correctly identifies normal balances of accounts?
3. Camper Van Company
Chapter 4 Quiz
1. The following information is for Sunny Day Real Estate:.The total
dollar amount of liabilities to be classified as current liabilities is.
2. The income summary account.IS A TEMPORARY ACCOUNT
3. Closing entries.CAUSE THE REVENUE A
Chapter 8 Quiz
1. When an account becomes uncollectible and must be written
off.ACCOUNTS RECEIVABLE SHOULD BE CREDITED
2. Under the direct write-off method of accounting for uncollectible
accounts, Bad Debt Expense is debited.WHEN AN ACCOUNT IS
Chapter 5 Quiz
1. Glover Co. returned defective goods costing $5000 to Mal Company on
April 19, for credit. The goods were purchased April 10, on credit, terms
3/10, n/30. The entry by Glover Co. on April 19, in receiving full credit
ACCOUNTS PAYABLE 5
Chapter 3 Quiz
1. The revenue recognition principle dictates that revenue be recognized
in the accounting period.IN WHICH THE PERFORMANCE OBLIGATION
2. Expenses paid and recorded as assets before they are used are
Chapter 9 Quiz
1. The cost of land does not include.ANNUAL PROPERTY TAXES
2. Farr Company purchased a new van for the floral deliveries on Jan. 1,
2015. The van cost $56000 with an estimated life of 5 years and
$14000 salvage value at the end of its usefu
Chapter 7 Quiz
1. An application of good internal control over cash disbursement
is.FOLLOWING PAYMENT, THE APPROVED INVOICE SHOULD BE
2. When making a payment from the petty cash fund for the postage
stamps, the following journal entry is mad
Chapter 6 Quiz
1. Netta Shutters has the following inventory information.A physical
count of merchandise inventory on November 30 reveals there are 90
units on hand. Assume a periodic inventory system is used. Cost of
goods sold under the average cost met
Chapter 10 Quiz
1. Sales taxes collected by a retailer are reported as.CURRENT
2. If the market interest rate is greater than the contractual interest rate,
bonds will sell.AT FACE VALUE
3. On Jan. 1, 2015, Carter Corporation issued $5000000,
Chapter 1 Quiz
1. Martin Corporation purchased land in 2007 for $290,000. In 2005
balanced sheet, Martin valued these two parcels of land at a combined
value of $920,000. By reporting the land in this manner, Martin Corp.
has violated the HISTORICAL COST
Guide to Importing EXCEL data into Access:
Create a blank Access database, appropriately named.
Select the External Data tab.
Click on the Import from EXCEL icon.
The import wizard will open. First, you
need to select the EXCEL file to import.
APHA advocates on AIDS,
Medicare, health funding
Continued from Page 2
For more information,
APHA takes action on
In other APHA advocaqf
news, the Association:
^ signed onto an
October letter o
ASTR 105L Reading Star Charts
Objective: to become familiar with the conventions used in mapping the sky, and to be able to
find objects in the sky using a star chart.
One of the goals of this class is to make you comfortable enough with the night sky so
Lab Partner: Edger Moya
Moons of Jupiter
In this Lab we track the motion of Jupiters Galilean moons in order to determine
the mass of Jupiter. We found that has 312.717 times the mass of Earth.
Chapter 2 Notes
Objective 1: Describe how accounts, debits, and credits are used to record
External Transactions occur between the organization and an outside party.
Internal Transactions occur within the organization.
Chapter 9 Notes Plant Assets
Objective 1: Explain the accounting for plant asset expenditures.
Plant assets are resources that have
physical substance (a definite size and shape),
are used in the operations of a business,
are not intended for sale to c
Chapter 5 Notes
Objective 1: Describe merchandising operations and inventory systems.
Merchandise companies _.
Flow of costs:
Merchandiser carry inventory. They either use a perpetual or periodic inventory system.
Perpetual Inventory System:
Chapter 1 Notes
Objective 1: Identify the activities and users associated with accounting
Accounting consists of three basic activitiesit
the economic events of an organization to interested users.
-Who uses accounting data?
Chapter 3 Notes
Objective 1: Explain the accrual basis of accounting and the reasons for adjusting entries.
Accountants divide the economic life of a business into _.
Transactions recorded in the _
Companies recognize revenu
Chapter 6 Inventories
Objective 1: Discuss how to classify and determine inventory.
Physical Inventory taken for two reasons:
1. Check accuracy of inventory records.
2. Determine amount of inventory lost due to wasted raw materials, shopl
Chapter 4 Notes
Objective 1: Worksheet
A worksheet is:
Multiple-column form used in preparing financial statements.
Not a permanent accounting record.
May be a computerized worksheet using an electronic spreadsheet program
such as Excel.