SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2015
TRANSITION REPORT PURSUAN
Unit sales to break even
2T,550 units 3-: $95 per unit = 52330250 to break even.
$30 per unit
Unit contribution margi
3I Award: 20 out of 20.00 points 5" W "5
Clasbv Corporation uses the FIFO method in its process oostirg. The following data conoem the oompanv's
Mixing Department for the month of January.
Work in process. Januarvt 3 15.?43 3 22.?43
4, Award:16.? out of 30.00 points Show my answer
Minden Company introduced a new product last year for which it is trying to nd an optimal selling price.
Marketing studies suggest that the company can increase sales by 5,000 units for each 52 reduction in
3. Assuming that the marketing studies are correct. what is the maximum annual prot that the company
can eem? At how menu:r units and at what selling prion per unit would the company generate this prot?
Maximum prot S 174 .200
Number of units
1_ Award: 15 out of 30.00 points 5'1" my inst-'6'
Pirkl Corporation has provided the following data for the month of March:
Inventories Beginning Ending
Raw materials $ 25,000 $39,000
Work in process 5. 14,000 $20,000
Finished goods $ 46,000 $30,000
Beginning materials inventory
Add : Purchases of raw materials
Raw materials available for use
Deduct : Ending raw materials inventory
Raw materials used in production
Deduct : indirect materials included in manufacturing overhead incurred
Rank companies A-C based on how favorable their receivables turnover ratio is (from least
favorable on the top to most favorable). (Assume the companies have similar credit terms.)
The correct answer Is shown. Ia and mun.
7" 1 Company C: 2.4 times
V 2 Com
When costs to purchase Inventory are falling ave: time. using LIFO leads to reporting _
X Sorry. your answer Is Incorrect. E mum-n.
X lower Inventovy on the Income statement
When prlceeerefelllng. uslng LIFO essumeethe newer, leesexpenslve Inve
The correctjoumal entry for the collection of a note receivable includes a . (Select all
The correct answer is shown. 53
debit to Notes Payable
credit to Cash
v" debit to Cash
V credit to Notes Receivable
credit to Notes Payable
debit to Note
Match the descriptlon with the appropriate method(s).
The correct answer is shown.
percentage of credit sales u-a simpler to apply but less accurate
aging of accounts receivable u-a uses more detailed data and is more accurate
When recording the adjusting entry for uncoilectible accounts using the allowance method.
customers' subsidiary accounts are not directly reduced. The reason is _. (Select all that
x Sorry, your answer Is incorrect. IE human.
The correct answer Is shown.
Based on an aging of accounts receivables. management assigned 1% to the $100,000 of receivables 0-30
days outstanding, 5% to the $10,000 receivables 31-60 days and 20% to the $1,000 of receivables over 60
days. After making t
Using the allowance method. which is the correct adjusting journal entry to record bad debt
The correct answer is shown. and muni-
Debit Allowance for Bad Debt Expense and credit Bad Debt Expense
Debit Bad Debt Expense and credit Sales Revenue
Which of the following makes notes receivable dlfferent from accounts receivable? (Select all
The correct answer Is shown. Ind III-maul-
V Notes receivable are formal written contracts.
Accounts receivable are Interest bearing.
v Notes receiv
A" result. lme Brain's subsidiary eccountreceiveblewlll beellmlnatedwhen_,
x Sorry. your answer In Incorrect. hum“
X en adjusting entry Is recorded by dobltlng Bad Debt E
Which of the following accounts are temporary accounts closed (zeroed out) at the end of the
accounting period into Retained Earnings?
The correct answer is shown. MM“
V Bad Debt Expense
Allowance for Doubtful Accounts
On March 1. Cents, Inc. lontﬂDOOtoan employee an ratoofG‘xfora months. Conts'ontlyto
record the loan of $1.000 to its employee Includes 0 (Check all that apply.)
MWamarl-m '3 “mu'
v debitto Notes Receivable of $1.000
Calculate the annual tax expense:
Cash operating expense
incremental net income
income tax expense
Purchase of equipment
Investment in working capital
Cash operating expense
Overhaul of equipment
Female to Male School Enrollment Figures
Mali 2005 - 2011
Ratio of female to male primary enrollment (%)
Ratio of girls to boys in primary and secondary education (%)
Ratio of female to male secondary enrollment (%)
Using the Fill Handle
7:30 AM Monday
Saturday Mon January
1 Year 1
2 Year 2
WheelsAboutTown.com Annual Projected Net Income
Downtown Hotel Core
Sales Transportation Costs
Into the Woods Camping Gear
Weekly Payroll Report
Withholding Allo Rate per HouHours Worke Gross Pay Federal Tax State Tax
Tuesday, January 03, 2012
Monday, February 06, 2012