Good morning brothers and sisters! Wednesday night Uncle Michael called and asked me to
speak on either a Book of Mormon Story or the origin of the Book of Mormon. I chose to speak
on a Book of Mormon story and one of the first ones that came to mind and
Acquisition and Expenditure Cycle
The basic acquisition and
expenditure activities include:
Purchasing goods and services
Receiving the good or service
Recording the asset or expense
and related l
1. The one of the five competitive pressures that is creating the strongest competitive pressures
for our company is stemming from buyer bargaining power.
2. The weapons of competition that rival companies in our industry can use to gain sales and market
Clever Interactions, Inc.
For the Year Ending December 31, 2014
Cost of Goods Sold
Marketing & Promotions
Employee Related Expenses
Our company seems to be in sound financial condition. We need to be able to
produce more so we can meet the demand. We lost 327,000 due to stockouts. We also
need to improve our S/Q rating.
We will create customer value by giving them high
No appendix in book.
The three measures of financial performance in which our company did best were
return on investment, revenue, and liquidity/working capital. The three measures in
which our companys financial performance was worst were probabili
December 31, 20X3:
Consolidated Income Statement for 20X3:
Gain on Retirement of the Bonds
20X3 consolidates income statement includes profit on the bond
Bal Jan 1 2012
Journal ent 2012
Accum OCI Dec11
Bal Dec 31 2012
GENERAL Other Comprehensive
Statement of Cash Flows - Direct Method
For the Year Ended December 31, 2012
Cash flows from operating activities
Cash received from customers
For operating expenses
PDOR= Cost/total cost driver activity
PDOR * Actual activity (# of slices eaten) = Cost assigned
Cost assigned is applied to WIP
Do NOT put the PDOR on T accounts or journal entries. It is only used in the equation.
Actual overhead is kept in a control a
Comparative Balance Sheets
Investment in Scott company
What is the objective of financial reporting?
Provide information that is useful to management in making decisions.
Provide information that clearly portray nonfinancial transactions.
Provide information about the reporting entity that is use
ACG 3341 Cost Accounting Exam 1 Chapter 1-4
16 multiple choice
Fill in blank
READ the question and answer what is asked
Under the process of each problem and show your work
Know what manufacturing overhead is
Know how to find missing pie
Worksheet Year of Consolidation For the Year Ended March 31, 20x3
Investment in Crystal Company
Buildings and Equipment
Homework Assignment 2
(The fundamental qualitative characteristics that make accounting information
useful are relevance and faithful representation.)
(Relevant information is not only pr
Other current assets
Total current assets
Total fixed assets
a. Journal entries for 4 years, calculate income tax expense, deferrals, and income tax payable
Pretax financial income
$290,000 $320,000 $350,000 $420,000
a. Lessee - Winston Industries should capitalize the lease of their asset.
Lessor - Ewing Inc. should treat the lease as a sales-type lease. They are making a profit off of the lease.
PV of minimum lease payments
1 A change in it's estimated rate should have been handled prospectively. Therefore, the bad debt expense should not have been reduced by $10,000 in 2010.
2 Since the company changed from LIFO to FIFO, they should have handled it retrospectiv
Determination and Distribution of Excess Schedule (D&D Schedule)
Price paid for investment
Less: Book value of interest acquired
Paid-in capital in excess of par
1. Revenue Test
A, B, C
3. Identifiable Assets Test
2. Operating profit (loss) Test
1. In _, auditors examine a companys rules and procedures for conducting business.
A financial audit
An operational audit
A compliance audit
A systems audit
2. A _ determines whether the various forms of information technology
1. Bells characteristics of a professional include the ability to think in which of the following ways?
All of the above
2. Bells characteristics of a professional include the ability to recogniz
7. A pet owner calls the grooming salon to schedule an appointment for their pet. A
grooming salon employee assists the customer. A member of the grooming staff will then
groom the pet when it is time for their appointment.
b) Auditing is a topic that was examined earlier in the book. It fulfills the
characteristic of integrating knowledge from many disciplines because auditors
have to know about internal controls, information technology, databases, and so
a) Supervision and Training
c) Independence and Professional Care
d) Independence and Professional Care
e) Independence and Internal Controls
e) I would intern with a fraud examiner or an auditor to see if I wou
a.) Conducting surprise cash counts. (Safeguarding assets)
b.) Creating a policy manual. (Promoting operational efficiency and encouraging
compliance with managements directives)
c.) Creating separate departments for purchasing inventory and
7b. The flowchart illustrates a sales order process from the time the customer makes
the order to the time it is packed and shipped to the customer. The customer places the
order which is then processed by the marketing department. The marketing
TO: Doctor Meegan
FROM: Emily Stewart
SUBJECT: Chapter 1 problem 11
a) Sometimes True
Data in an accounting information system can be stored in paper form, electronically, or
a mix of both.
TO: Doctor Meegan
FROM: Emily Stewart
SUBJECT: Chapter 5 Homework
b) Operations and maintenan