ACCT& 202
Chapter 8 Homework Part 1
Homework Hints
Financial Accounting, 3rd ed.
Please note: Homework Hints are for the Problems (questions 8-14), there are no hints for the
Brief Exercises and Exercises ( questions 1-7). If you need help please use the
ACCT& 202
Chapter 7 Homework Part 1
Homework Hints
Financial Accounting, 3rd ed.
Please note: Homework Hints are for the Problems (questions 9-12), there are no hints for the
Brief Exercises and Exercises ( questions 1-8). If you need help please use the
ACCT& 202
Chapter 7 Homework Part 2
Homework Hints
Financial Accounting, 3rd ed.
Please note: Homework Hints are for the Problems (questions 8-17), there are no hints for
the Brief Exercises and Exercises ( questions 1-7). If you need help please use the
ACCT& 202
Chapter 8 Homework Part 2
Homework Hints
Financial Accounting, 3rd ed.
Please note: Homework Hints are for the Problems (questions 7-13), there are no hints for the
Brief Exercises and Exercises ( questions 1-6). If you need help please use the
Chapter 3
Terms to know:
Accrual Basis Accounting know when revenues and expenses are recorded under this method
Accrual-basis accounting records revenues when earned (the revenue recognition principle) and expenses with related
revenues (the matching pr
1. Which accounting principle states that a company should "record revenues
when they are earned"?
A. Materiality.
B. Conservatism.
C. Revenue recognition.
D. Matching.
2. The closing process includes which of the following?
A. Closing the balances of o
Student Guide
ACC/300 Version 4
Week Four Student Guide
No matter how strong your accounting system, it is always prone to mistakes and fraud. To
minimize and detect mistakes and fraud, every accounting system and organization must have a
strong system of
Student Guide
ACC/300 Version 3
Week Three Student Guide
The end products of the accounting process are the four basic financial statements. But how do
you read and interpret these statements? This week, you will learn the basic tools and techniques
to an
Student Guide
ACC/300 Version 4
Week Two Student Guide
This week, you continue learning about the accounting process and learn about the critical
process of adjusting the books in preparation of closing them and preparing the financial
statements at the e
Student Guide
ACC/300 Version 4
Week One Student Guide
Welcome to the first week of principles of accounting. This week, you are introduced to the
accounting equation, which is the foundation of accounting. You will examine the accounting
equation in term
P3-5A
Question 1.
General Journal
Date
Accounts & Explanation Debit
Credit
4/1/2012 DR Cash
$ 18,000.00
CR Common Stock
being stockholders investment paid in cash
$18,000
4/1/2012 No entry, wages not yet paid or earned.
4/2/2012 DR Rent Expense
$
CR Cash
Compass Math
Practice F
~Solutions~
y
m
x
b
F1. Which equation best describes
the data in this table?
A. Y = 4X - 7
B. Y = X - 6
C. Y = -2X + 5
D. Y = 4X + 3
E. Y = 3X + 5
Notice that all of the answers are in
slope intercept form.
We just have to fi
Compass Math
Practice H
~Solutions~
H1. What are the solutions to the
2
quadratic equation x 15 x 36 0 ?
A. 3, 6
B. 6, 6
C. 3, 12
D. 4, 9
Factor. You need two
numbers that will multiply
to 36 and add to -15.
2
x 15 x 36 0
( x 12)( x 3) 0
Now use the z
Compass Math
Practice B
~Solutions~
B1.
Which of these is the product
of (x + 2y) and (2x 3y) ?
A. 2x2 7xy + 6y2
B. 2x2 + xy 6y2
C. 2x2 + 7xy + 6y2
D. 2x2 xy 6y2
E. 2x2 + 7xy 6y2
( x 2 y )( 2 x 3 y )
2
2x 3 xy 4 xy 6 y
2
2 x xy 6 y
2
2
4a
?
B2. For al
Solutions to Special Practice
COMPASS
Special Practice
1. What are the solutions to the
2
quadratic equation x 15 x 36 0 ?
A. 3, 6
B. 6, 6
C. 3, 12
D. 4, 9
Factor. You need two
numbers that will multiply
to 36 and add to -15.
2
x 15 x 36 0
( x 12)( x
Compass Math
Practice K
~Solutions~
K1. If x = -1 and y = 3, what is the
value of the expression 3x3 - 2xy ?
3(-1)
A. 3-9- 2(-1)(3) =
3(-1)
B. -3
- 2(-1)(3) =
-3C.- (-6)
3 =
D. 9
-3 + 6 =
E. 21
3
Answer C
K2. Which of the following expressions
represent
Compass Math
Practice G
~Solutions~
G1. For all B and C and A 0, if
x ?
Ax B Cthen
A.
B A
C
B.
A B
C
C.
AB
C
D.
C B
A
E.
C A
B
Solve for x
Ax B C
B B Subtract B
Ax C B
Ax C B
Divide by A
A
A
C B
Answer D x A
Simplify the radicals
32
18
G2. Simplify
Compass Math
Practice E
~Solutions~
x
2
x
4
9
8
1
3
E1. What is the value of
when x = -5?
A.
D. -3
B.
C.
E. 3
2
x
2
x
4
(
25)
(1035)
2
2145324
9
3
3
2
2
E1. What is the value of
when x = -5?
Substitution,
watch the signs
Spend enough time on
simple p
RULES FOR DEBIT & CREDIT
ASSETS
=
ASSET ACCOUNTS
Debit
CreditDebit
to record to recordto record
increases decreasesdecreases
(+)
(-)
(-)
Balance
side
LIABILITIES
LIABILITY ACCOUNTS
Credit Debit
to record to record
increases decreases
(+) (-) (+)
Balance
B
Lab 2 - Completing the Payroll Register
Based on the first lab, I realized some of you may not know how to link cells and
write formulas containing cell references ( also linked). The purpose of this first
sheet is to give you some practice with those ski
Company Name
Cost of Asset
Residual Value
Life, in Years
e SLN function or
ally create a
a for the amount
reciation Expense:
tion Base x
ciation Rate
Straight-Line Depreciation Schedule
cells F16 and H15 will turn red when they are correct
Jeanette Fohn:
ANSWERS TO QUESTIONS
1.
The balance sheet provides information about the nature and amounts of investments in enterprise
resources, obligations to enterprise creditors, and the owners equity in net enterprise resources.
That information not only complemen
CHAPTER 2 AN INTRODUCTION TO COST TERMS AND PURPOSES
2-16 1.
(15 min.) Computing and interpreting manufacturing unit costs.
(in millions) Regular $ 62.00 8.00 24.00 $ 94.00
Direct material cost Direct manuf. labor costs Indirect manuf. costs Total manuf.
1.
(Ignore income taxes in this problem.) Noe Corporation has entered into a 8 year lease for a
building it will use as a warehouse. The annual payment under the lease will be $2,520. The first
payment will be at the end of the current year and all subseq
1.
Hayase Corporation processes sugar beets that it purchases from farmers. Sugar beets are processed in batches. A
batch of sugar beets costs $34.8 to buy from farmers and $13.4 to crush in the company's plant. Two intermediate
products, beet fiber and b
1.
value:
2 points
MC Qu. 15 The materials purchase budget:
The materials purchase budget:
is accompanied by a schedule of cash collections.
must provide for desired ending inventory as well as for production.
is the beginning point in the budget process.
Yoshihara Corporation produces a single product and has the following cost structure:
Number of units produced each year
Variable costs per unit:
Direct materials
Direct labor
Variable manufacturing overhead
Variable selling and administrative expense
Fix
The following is last month's contribution format income statement:
What is the company's break-even in unit sales?
6,000 units
12,000 units
0 units
8,000 units
Riven Corporation has a single product whose selling price is $10. At an
expected sales level