CHAPTER 5 ADDITIONAL HOMEWORK
PERPETUAL INVENTORY TRANSACTIONS
Prepare the journal entries using the Perpetual Inventory Method for Annie Corporation,
a merchandiser of pet supplies, who engaged in the following transactions:
June 1 Annie purchase
1. Cash equivalents are generally investments with maturities of (Points: 2) a. $1,000 or
more. b. three months or less. c. at least six months. d. one year or the operating cycle,
whichever is less.
2. The best measure of a company's ability to generate
BA 212 Review for chapters 11 and 12
Instructor: Usha Ramanujam
A corporation issued $600,000 of 8%, 5-year bonds on January 1, at 102.
Interest is paid semiannually on January 1 and July 1. If the corporation uses the
straight-line method of amorti
Comprehensive Problem for Extra Credit ACC 211 Spring 2015
The following problem is available for a maximum of 15 extra credit points.
This problem is due Monday, March 30th at the beginning of your class session.
This is a long problem and should not be
For each item below, indicate whether a debit or a credit applies.
a. Decrease in Accounts Payable
b. Decrease in Land
c. Increase in Retained Earnings
d. Increase in Unearned Revenue
e. Decrease in Interest Payable
f. Increase in Prepa
FINANCIAL ANALYSIS: THE BIG PICTURE
SUMMARY OF QUESTIONS BY STUDY OBJECTIVE AND BLOOMS TAXONOMY
BA 212 Test # 1 Review Instructor: Usha Ramanujam
Answers are given in the very end.
Under the allowance method, writing off an uncollectible account
a. affects only balance sheet accounts.
b. affects both balance sheet and income statement accounts.
Chapter 8 Quiz
Choose the most correct answer. Show your work when necessary for full credit.
1. The term "receivables" refers to
amounts due from individuals or companies.
merchandise to be collected from individuals
1. Stockholders of a corporation directly elect
a. the president of the corporation.
b. the board of directors.
c. the treasurer of the corporation.
d. all of the employees of the corporation.
2. Which one of the following would not be considered an advan
Review Chapters 12, 13 and 14
1. The accountant at Borg Industries was preparing the financial statements for the year
ended December 31, 2003 when he discovered an error. Apparently, the income tax
expense for 2002 was understated by $32,50
The stockholders' equity accounts of Hashmi Company at January 1, 2010, are as follows. Preferred Stock, 6%, $50 par $600,000
Common Stock, $5 par 800,000 Paid-in Capital in Excess of Par ValuePreferred Stock 200,000 Paid-in Capital in Excess of Par
Introduction in Operations Management
man decision areas in supply chain management are location. production. distribu-
mientory. The location decision relates to the choice of locations for both produc-
dtstnbution facilities. Producti
Sample Exercises Chapter 10
1) The following expenditures were incurred by Osley Co. in purchasing land: cash price
$70,000, accrued taxes $3,000, attorneys fees $2,500, real estate brokers commission
$2,000, and clearing and grading $3,500. What is the c
Income before interest and taxes
Interest ($2,400,000 X 10%)
Income before taxes
Income tax expense (30%)
Earnings per share
Chapter 5 Multi-step Income Statement-Example 2-Olsen
Cost of Goods Sold
Loss on Sale of Equipment
Store Salaries Expense
Office Salaries Expense
Utilities Expense (see below)
Solutions Guide: This is meant as a solutions guide. Please try reworking the
questions and reword the answers to essay type parts so as to guarantee that your
answer is an original. Do not submit as your own.
Operating data for Gallup Corporation a
Selected financial data of Target and Wal-Mart for 2005 are presented here (in millions).
Target Corporation Wal-Mart Stores, Inc. Income Statement Data for Year Net sales
$45,682 $285,222 Cost of goods sold 31,445 219,793 Selling and administrative
The following items are taken from the financial statements of Cerner Company for the year ending
December 31, 2008:
Accumulated depreciation equipment
Closing entries are not needed if the business plans to continue operating in the future and
issue financial statements each year.
The dividends account is closed to the Income Summary account in order to properly
EXAM 1 STUDY GUIDE
1. AUDIT RISK MODEL
Know the audit risk model and each of the elements of the model
A. Be able to explain what each component of risk is, what the interrelationships are,
who controls that risk, and what the ultimate risk tolerance is f
The following are in the form of direct essay-style questions taken from Chapters One and Two of our text. The
answers will help you to identify ideas in the text and lecture that will show
Completion of the Accounting Cycle
A. Preparing a Work sheet
1. Instead of preparing the _ statements directly from the
adjusted trial balance, many companies use a work sheet to facilitate this process.
2. The work
Financial Accounting 20
Chapter 3 Outline Adjustments
Time Period Assumption or Periodicity Concept
A. This assumption assumes that the life of a business can be divided into
_ time periods.
B. Interim periods are _ than a year.
C. A calendar y
Assurance services used to describe the broad range of information enhancement services that are
provided by CPAs
o Must be independent
o Two types: increase the reliability of information and those that involve putting information in a
form or context t
Cushner- AMS1A Seminar (Section 21) Sp 2015
Skill Quiz #1: Asking Questions
In Seminar, the questions you ask will often be at the center of our discussion. The following is an
example of three types of questions, all of which will be in play:
Running Head: NATIVE AMERICANS IN NATURE
Native Americans in Nature
Brenda Regalado Guido
San Jose Sate University
February 23, 2014
Word Count: 1044
Native Americans in Nature
As Europeans began to permanently settle in the New World, there were some
Bus 188 Spring Midterm Study Guide
- Quizzes, articles, announcements, extra readings; 12 questions per chapter, Lab 1A & 1B
(not steps, but the content; contextual)
- Moores Law vs NASA
o Space shuttle on the moon same as what we have on our phones
1. Should slavery be legal in the United States of America?
2. Should every citizen be allowed to hold office and vote?
3. Should the government be allowed to dictate what kinds of
sexual acts adult citizens engage in in the privacy of thei