Practice Exam 2
1. Assuming that RainStorms market value of equity at the end of 2008 is $22 million dollars,
calculate RainStorms Z-score?
(True/False) When a company reports a loss for tax purposes, it can carry back that loss for up to two years to recoup
previous taxes paid. Any unused losses can be carried forward for up to ten years to reduce future taxes.
2. When using
Practice Exam For Midterm 3
1. Operating events include
a. the payment of dividends and accounting principle changes.
b. inflows and outflows of assets due to the generation of revenues.
c. purchases, sales, and exchanges of long-term asse
Module 2 Class Exercises
E2-29. Analyzing and Reporting Financial Statement Effects of Transactions (L03)
M.E. Carter launched a professional services rm on March 1. The rm will prepare nancial ea
statements at each month-end. In March (its rst mo
Module 5 Class
M5-ll. Computing Percentage-of-Completion Revenues (L01)
Bartov Corporation agreed to build a warehouse for a client at an agreed contract price of
$2,500,000. Expected (and actual) costs for the warehouse follow: 2012, $400,000; 2013,
ACCT 5301 Module 9 Exercises _"'I
E9-34. Identifying and Analyzing Financial Statement Effects of Stock Transactions (L01)
Lipe Company reports the following transactions relating to its stock accounts in the current year.
Issued 10,000 shares of
AIM 6344- Midterm 1 (Spring 2012)
1) Investing activities are the acquiring and disposing of liabilities that a company needs
in order to finance its operating activities.
2) An increase in treasury stock would be reflected in the statement
Lecture Notes Module 11
1. Adjust historical financial statements to reflect expected future net operating assets and
a. Separate into operating and non-operating components
b. Eliminate from the historical numbers di
Lecture Notes Module 10
Leases must be capitalized when at least one of the following four criteria is met:
The lease automatically transfers ownership at termination.
The lessee can purchase for a nominal amount at termination.