MGT101- Financial Accounting (Session - 4)
Time: 120 min
Question No: 1 - Please choose one
Occurrence of eventLedger voucher
JournalTrial Balanceprofit and loss account
Shares for which amount is p
Alimentation Couche Tard Inc
In Millions of USD (except for per share items)
ending 2015- ending 201404-26
FINA 6300 Practice Test 11
1. Interest rates or rates of return on investments that have been adjusted for the effects of ination are called
2. The upper and lower limits on the cou
Note: It is recommended that you save your response as you complete each question.
Question 1 (1 point)
An entity represents the individual characteristics or properties that are recorded about an object.
Question 1 options:
Financial reporting is an important component of business control and governance. It is one of the principal
mean by which important financial information about a business is communicated to interested users
concerning the business fin
Assignment 2: TVOM Calculations
Ling is considering to open an annuity to save for a down payment on a home. The annuity would be created
of each of the following ten years, a payment of $4,000 would be made into the annuity. The interest rate is 2
Investment Rules Homework
You are considering the following two mutually exclusive projects that will not be
repeated. The required rate of return is 11.25% for project A and 10.75% for
project B. Which project should you accept and why?
CONAGRA FOODS, INC
For the Year Ended May 31st, 2012
In million dollars
Cost and expenses:
cost of goods sold
Selling, general and administrative expenses
Income from c
Why does capital budgeting rely on analysis of cash flows rather than on net income?
The primary concern in capital budgeting is the amount of actual dollars generated, for this
reason the cash flow rather than net income is used. For example in the ne
Runcke Motor Company manufactures automobiles. During September 2011 the company purchased 5,000 head lamps at
withdrew 4,650 lamps from the warehouse during the month. Fifty of these lamps were used to replace the head lamps in
staff. The remaining 4,600
YOUR NAME: Nabil Ibrahim
YOUR SECTION (Thursday 6:30 PM Section 8429 HYBRID):
QUESTION 1 (Max 3 points per transaction; 15 points total)
TRANSACTION 1: You sold $50 worth of sandwiches this week. You
received $20 in cash and $30 was bought by customers
EXPRESS DELIVERY SERVICE
For the Year Ended Dec 31, 2015
Acount Title and Description
To record salaries paid.
To record truck purchased.
P17-3. (Available-for-Sale Investments)
Cardinal Paz Corp. carries an account in its general ledger called Investments, which contained debits for investm
and no credits, with the following descriptions.
Feb. 1, 2014
Sharapova Company common stock, $100 p
(Permanent and Temporary Differences, One Rate)
The accounting records of Shinault Inc. show the following data for 2014 (its first year of operations).
Life insurance expense on officers was $9,000.
Equipment was acquired in ea
E16-25. (EPS with Convertible Bonds and Preferred Stock)
On January 1, 2014, Crocker Company issued 10-year, $2,000,000 face value, 6% bonds, at par. Each $1,000
bond is convertible into 15 shares of Crocker common stock. Crocker's net income in 2014 was
(Lessee-Lessor Entries, Balance Sheet Presentation, Sales-Type Lease)
Winston Industries and Ewing Inc. enter into an agreement that requires Ewing Inc. to build three diesel-electric engines to
the engines, Winston has agreed to lease them for a period o
(Classification of Land and Building Costs)
Spitfire Company was incorporated on January 2, 2015, but was unable to begin manufacturing activities until July 1, 20
because new factory facilities were not completed until that date. The Land and Buildings a
Hull Company's record of transactions concerning part X for the month of April was as follows.
Dec 31, 2010
Jan 3, 2011
GENEREAL JOURNAL ENTRIES
Bad Debt Expense
Allowance for Doubtful Accounts
To record bad debts for the year.
Allowance for doubtful account
To write off
Fill in the missing numbers for the following income statement. (Input all amounts a
Calculate the OCF.
Problem 21-1A Contribution margin income statement and contribution margin ratio
The following costs result from the production and sale of 1,000 drum sets manufactured by Tight
Drums Company for the year ended December 31, 2015. The drum sets sell for $5
Problem 15-1A Recording transactions and fair value adjustments for trading securities
Carlsville Company, which began operations in 2015, invests its idle cash in trading securities. The following
transactions are from its short-term investments in tradi
Problem 25-3A Computation of cash flows and net present values with alternative depreciation methods
Manning Corporation is considering a new project requiring a $90,000 investment in test equipment with no salvage value.
produce $66,000 of pretax income
Problem 13-1A Stockholders equity transactions and analysis
Kinkaid Co. is incorporated at the beginning of this year and engages in a number of transactions. The following journal ent
Common Stock, $25 Par Value
Problem 17-2A Ratios, common-size statements, and trend percents
Check (3) 2015, Total assets trend,
Selected comparative financial statements of Korbin Company follow
Comparative Income Statements
For Years Ended December 31, 2015, 2014, a