SKYLINE COLLEGE FALL 2016
QUICKBOOKS 2015 MERCHANDISING FIRM ACTG 145 OLH
Test 2 Chp. 12-14, & 16
Prof. R.S. Claire
Instructions: Fill in the correct answer to complete the sentence and then HIGHLIGHT it
in YELLOW. Use this Word document for your answers.
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Prof. Guillermo Ortiz!
The Complete Bond Problem
A company issues $10,000, 10%, 5-year bonds with semiannual payments.
These amounts are xed and are stipulated in the bond contract.
Calculate the semiannual p
The Journal And The Ledger
The journal is like a diary. It records all the
nancial transactions of the business in
In the journal you can check what happened on
a given day, but it doesnt tell us the balance
The Trial Balance
Take the account balances from the
ledger to prepare a Trial Balance.
At any time we can take the information found in
the ledger accounts and show it in an internal
report called the Trial Balance. This is not a
The Closing Process Explained
Closing is the process of zeroing out temporary accounts and, in the process,
transferring the results of operations (Net Income or Net Loss) to Retained Earnings.
Your book does closing in two transactions, which makes it ve
ACTG 121 Financial Accounting!
Prof. Guillermo Ortiz
Difference between assets, expenses and liabilities.
Assets economic resources that have value and will provide a future benefit.
Liabilities debts or obligations of a business
Expenses the cost of doin
Quiz Chapter 9, Fall 2015
Tinsley Limited purchased a new van on January 7, 2012. The van cost $40,000. It has an
estimated life of three years and the estimated residual value is $4,000. Tinsley uses doubledeclining-balance depreciatio
COST AND MANAGEMENT ACCOUNTING
EXERCISES ON SYSTEMS DESIGN: JOB-ORDER COSTING
Wall Company uses a predetermined overhead rate based on direct labor hours to
apply manufacturing overhead to jobs. The company's estimated costs for the nex
51 Undercosting a product increases the profit from the product and benefits
the firm. Do you agree? Why?
Undercosting a product may appear to have increased the reported profit the product earned
(assuming the firm did not lower its selling price because
ACG 3301 Spring 2011
Exam 1 Review Sec B51
1. An opportunity cost is:
A. the difference in total costs which results from selecting one alternative instead of
B. the benefit forgone by selecting one alternative instead of another.
C. a cost which
If you want the formulas and any calculations, select the corresponding cell and press F2(Function Key on key board),
It will show all calculations and formulas Automatically
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The Production Departme
Schedule of Expected Cash Collections
Peak sales for Midwest Products, a wholesale distributor of leaf rakes, occur in August. The
company's sales budget for the third quarter showing these peak sales is given below:
Chapter 3 Summary: Demand, Supply and Equilibrium
Market: Where economic agents come together to determine price and quantity.
Economic Agents: Buyers and Sellers
Quantity Demanded (QD): Quantity of a good purchased at a particular given price.
Characteristics of pure monopoly:
Single seller. So, the demand faced by this single firm is equal to the market demand and
is downward sloping. Unlike pure competition, demand faced by the monopoly firm is
not perfectly elastic.
Monopolistic competition and oligopoly
Monopolistic competition is more towards pure competition and oligopoly is more towards
Four-firm concentration ratio is a method to differentiate these two industries. This ratio
measures the percentage of
Chapter 1 Summary: Limits, Alternatives, and Choices
What is Economics? It is about making choices.
Why do we make choices? Because of limitations.
Who is making choices? Individuals, households, firms / businesses, industries, societies,
government and e
MASTA Proof and Reasoning 9-12 Module
Data Analysis and Statistical Reasoning
Handout - Page 1 of 14
Definition of Statistical Reasoning
Write down a definition of statistical reasoning.
What are three ways that Garfield says statistics and mathematics di
One sample means - popn st dev unknown
sample st deviation
degrees of freedom
Sample MCQs for Chapters 9, 10 and 11
1. "An oligopoly is an oligopoly. Firms behave the same no matter what type of
oligopoly it is." This statement is:
c) true of homogeneous product industries.
d) none of the above.
Answer: B Difficu
1. The following message is printed on a bottle of prescription medication: WARNING: For
applications to skin areas there is a 15% chance of developing a rash. If a rash develops, consult your
physician. Which of the following is the
Should the Government Finance New-Energy Technologies?
On the article, The Experts: Should the Government Finance New-Energy
Technologies? the writer Carl Wiens talks about the barriers to entry for