Acct5312 Test 1A Summer 2011 Chapters 1-5
The following are data available for Blue Grass for the month of June:
(a.) Calculate cost of goods sold and ending inventory under the following cost flow
(1.) Weighted average
Foundations of Accounting
Dr. Steve Hall
Office is OCNR320
Test 1 Acct5312 Summer 2012 Student:_
Questions 1-5 are 4 points each
1. Which of the following is not a transaction to be recorded in the accounting records of an entity?
A. Investment of cash by the owners.
B. Sale of product to customers.
Test 2 Acct 5312 Summer12
1. (18 points) On September 30, 2011, David's Co.'s treasurer signed a note promising to pay $520,000 on
December 31, 2011. Proceeds of the note were $501,800.
(a.) Calculate the discount rate used by the