CHAPTER 2
CONCEPTUAL FRAMEWORK UNDERLYING
FINANCIAL ACCOUNTING
IFRS questions are available at the end of this chapter.
TRUE-FALSEConceptual
Answer
F
T
F
T
F
T
F
T
T
F
F
F
T
T
F
F
T
T
F
F
No.
Descript
CHAPTER 1
FINANCIAL ACCOUNTING AND
ACCOUNTING STANDARDS
IFRS questions are available at the end of this chapter.
TRUE-FALSEConceptual
Answer
F
T
T
T
F
T
T
F
F
T
T
F
T
F
T
T
F
F
F
F
No.
1.
2.
3.
4.
5.
WlleyPLUS
Tana/Barman
Tana/Barman
aamaaw
Bermsi4'll
aamaama
aamaams
Drama 44
ms 9:qu Quesuan m
ms 9:qu Quisuan Dz
ms mmwa Chums Quéslmn n
ma mmwa Chums Quéslmn n
ma mmwa Chums mam" u
Kwanzaa
Keven w
Financial Statement Analysis" Please respond to the following:
From the first e-Activity, compute the percentage difference between the two companies with
respect to operating, investing, and financin
DISCUSSION 1: Week 6
E-ACTIVITY
Week 6 e-Activity
Use the Internet to research and select the financial statements of two public companies
in the same industry. Be prepared to discuss.
From the e-Acti
Kraft Enterprises owns the following assets at December 31, 2014.
Cash in banksavings
Checking account
71,690
account
balance
Cash on hand
8,550 Postdated checks
Cash refund due from
Certificates of d
Explain the transaction approach to measuring income. Why is the transaction approach
to income measurement preferable to other ways of measuring income?
o Traditional bookkeeping is known to use tra
ACC 303 Week 10 Quiz 7: Chapter 06 Part 2
Correct.
If an annuity due and an ordinary annuity have the same number of equal payments and the same interest rates, then
the present value of the annuity d
CHAPTER 5
TRUE-FALSEConceptual
Answer
F
T
T
T
F
F
T
F
F
T
F
F
F
F
T
T
T
F
T
F
No.
Description
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
Liquidity and solvency.
Limitations
CHAPTER 7
CASH AND RECEIVABLES
IFRS questions are available at the end of this chapter.
TRUE-FALSEConceptual
Answer
T
F
F
F
F
T
F
F
T
T
T
F
F
T
F
T
F
F
T
F
T
F
F
T
F
No.
Description
1.
2.
3.
4.
5.
6.
CHAPTER 1
FINANCIAL ACCOUNTING AND
ACCOUNTING STANDARDS
IFRS questions are available at the end of this chapter.
TRUE-FALSEConceptual
Answer
F
T
T
T
F
T
T
F
F
T
T
F
T
F
T
T
F
F
F
F
No.
1.
2.
3.
4.
5.
Chapter 06 Homework Part I
Your answer is correct.
Chris Spear invested $15,000 today in a fund that earns 8% compounded annually. (Use the tables
below.)
8% annual interest
FV =
FV =
FV =
$15,000 (FV
ACC 303 Week 6 Homework: Chapter 05, Section 1
Problem 5-7
Aero Inc. had the following balance sheet at December 31, 2011.
During 2012, the following occurred.
1. Aero liquidated its available-for-sal
Chapter 7 homework I
Your answer is correct.
Restin Co. uses the gross method to record sales made on credit. On June 1, 2014, it made sales of
$50,000 with terms 3/15, n/45. On June 12, 2014, Restin
Candice Willis will invest $30,000 today. She needs $150,000 in 21 years. What annual interest rate must
she earn?
Ans.
Present Value (PV) = $ 30,000
Future Value (FV)= $150,000
Time = 21 years
r=?
FV
For Fielder Enterprises, indicate how each of the following usually should be classified. If an item should appear in a note to the financial
statements, select Note to Financial Statement to indicate
Your answer is correct.
Keyser Beverage Company reported the following items in the most recent year.
Net income
Dividends paid
Increase in accounts receivable
Increase in accounts payable
Purchase of
Your answer is correct.
Keyser Beverage Company reported the following items in the most recent year.
Net income
Dividends paid
Increase in accounts receivable
Increase in accounts payable
Purchase of
Your a r3w-er 3 partia liy' correct.
Pruente-d below are a number of opeltltionel guidelinu and plotting that have developed overtime.
Select the assum ption. principle. ormr3t|aint that mc3t appropri
Week 11 Discussion
Throughout this course you have utilized the FASB codification to research the
authoritative guidelines for accounting transactions. Briefly explain the primary advantages
of having