Chapter 1 Practice Quiz True False
Question 1
1 out of 1 points
Management accounting refers to the preparation and use of accounting information designed to
meet the needs of decision makers outside the business organization.
Selected Answer:
b. False
Qu
Chapter 1 Practice Quiz Multiple Choice
Question 1
1 out of 1 points
Which organization best serves the professional needs of a CPA?
Selected Answer:
b. AICPA.
Question 2
1 out of 1 points
The basic purpose of an audit is to:
Selected Answer:
a. Assure fi
Question 1
1 out of 1 points
A balance sheet is designed to show:
Selected Answer:
c. The assets, liabilities, and owners equity in the business at the particular
date.
Question 2
1 out of 1 points
The nature of an asset is best described as:
Selected
Ans
Name: _Angel Wu_
Date_11/11/16_
AC 113 Exam #2
Open Book / Take-Home Portion
(Worth 60 total points)
#1 (30 points)
Preparation of financial statements
Using the Adjusted Trial Balance shown below, prepare the companys:
(a) Income Statement
(b) Statement
Name: _Angel Wu_
Date_12/11/16_
AC 113 Exam #3
Take-Home Portion (Worth 25 Points)
#1. (8 points)
Tunxis Community College bought 50 new computers for its new classrooms. The computers cost
$2500 each for a total of $125,000. In addition, it cost the univ
Name: _Angel Wu_
Date:_10/05/2016_
AC 113 Exam #1
Untimed, Open Book Portion
Directions:
1. This part of the exam is worth 20 points. (The timed portion is worth 80 points.)
2. Save a copy of this file on your computer. Enter your answers onto this docume
Week #3 Chapter 3 Graded Assignment
1 of 3
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Georgia Corporation incorporated on September 2, 2015. The company engaged in the following
transactions during its first month of operations:
Sept. 2 Issued capital stock in exc
Week #8 Chapter 6 Graded Assignment
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Golf World sold merchandise to Mulligans for $34,000, offering terms of 1/15, n/30. Mulligans paid for the
merchandise within the discount period. Both companies use perpetual in
Week #4 Chapter 4 Graded Assignment
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On February 1, Watson Storage agreed to rent Hillbourne Manufacturing warehouse space for $300 per
month. Hillbourne Manufacturing paid the first th
Week #3 Chapter 3 Graded Assignment
1 of 2
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Oct. 1 The clinic issued 5,000 additional shares of capital stock to Doctor Soges at $60 per
share.
Oct. 4 The clinic purchased diagnostic equipment
Solutions to Chapter 4 Review Homework
To best prepare for the Graded Homework Assignments, Quizzes, and Exams,
students should first attempt to solve these problems and then compare their answers
against these solutions.
Discussion Questions
#2
All adjus
Solutions to Chapter 8 Review Homework
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students should first attempt to solve these problems and then compare their answers
against these solutions.
Questions
#4
During a period of r
Solutions to Chapter 7 Review Homework
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students should first attempt to solve these problems and then compare their answers
against these solutions.
Brief Exercises
#9
Exercises
#14
Solutions to Chapter 9 Review Homework
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students should first attempt to solve these problems and then compare their answers
against these solutions.
Questions
#14
An asset is impaire
Solutions to Chapter 11 Review Homework
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students should first attempt to solve these problems and then compare their answers
against these solutions.
Brief Exercise
#2
Preferred stoc
Solutions to Chapter 1 Review Homework
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students should first attempt to solve these problems and then compare their answers
against these solutions.
Discussion Questions
#9 An audit
Solutions to Chapter 2 Review Homework
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students should first attempt to solve these problems and then compare their answers
against these solutions.
Discussion Questions
#5 The basic
Solutions to Chapter 3 Review Homework
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students should first attempt to solve these problems and then compare their answers
against these solutions.
Discussion Questions
#2
Assets ar
Solutions to Chapter 6 Review Homework
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students should first attempt to solve these problems and then compare their answers
against these solutions.
Brief Exercises
#8
Yang & Min Inc
Solutions to Chapter 13 Review Homework
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students should first attempt to solve these problems and then compare their answers
against these solutions.
Questions
#5
In the long run, it
Chapter1notes
Pages413
Informationthatisprovidedtoexternalpartieswhohaveaninterestinacompany
issometimesreferredtoasfinancialaccountinginformation.
Informationusedinternallybymanagementandothersiscommonlyreferredtoas
managerialaccountinginformation.
o B
Chapter6:MerchandisingActivities
Inventory:merchandiseintendedforresaletocustomers
o Inmostmerchandisingcompanies,inventoryisarelativelyliquidasset
thatis,itusuallyissoldwithinafewdaysorweeks.
o Inventoryappearsnearthetopofthebalancesheet,immediatelybelow
Chapter2:BasicFinancialStatements
A primary source of financial information is a company's financial statements. These statements,
which are prepared at least once a year and in many cases more frequently, provide insight into the
current financial status
Ofce Today is an ofce supply store. Ofce Todays revenue in the current year is $000 million and its
cost of goods sold is $040 million.
Compute Ofce Today's gross prot and its gross prot percentage. {Enter your answers in millions
{i.e.,10,000,000 should
Chapter9:PlantandIntangibleAssets
PlantAssetsasaStreamofFutureServices
Plantassets:longlivedassetsthatareacquiredforuseinbusinessoperations
ratherthanforresaletocustomers.
o Canbethoughtofaslongtermprepaidexpenses
o Ex:abuildingrepresentstheadvancepurcha