Excel 2007 Instructors Manual
Page 1 of 17
Microsoft Office Excel 2007
Chapter Three: What-If Analysis, Charting, and
Working with Large Worksheets
A Guide to this Instructors Manual:
We have designed this Instructors Manual to supplement and enhance your
MIDTERM EXAM Problems
Name: Selina Kwafo
Date: July 14, 2017
PROBLEMS Each problem is worth 10 points.
1. Using the following transactions, calculate (A) the ending balance of Cash, (B) the ending
balance of Accounts Receivable, (C) total liabiliti
ACCOUNTING FOR CORPORATIONS
SE1. Advantages and Disadvantages of a Corporation
SE3. Management Issues
SE12. Stock Split
Selina Kwafo Accounting 1
Balance Sheet Account
Amount of Adjustment
(+ Balance after
Unearned repair rev
Professor Kalai McHan
July 21, 2017
Accounting is a career that offers many job opportunities and advancements. When you
begin to explore the profession of accounting you discover that there are a var
ACC121 - FINAL EXAM (Problems)
Date _August 2 nd , 2017_
PROBLEM 10 points each (40 points total)
1. The following information pertains to the bank transactions of Rawlins Company:
1. Cash on the books as of April 30 was $499.
Name _Selina Kwafo_
Please follow these instructions carefully. As you save your work, use the file name:
You will work on this problem on your own time. When completed your work will be
Recognition-formally reporting an economic item/event/transaction in the financial statement.
Realization- refers to collecting the money-sale of a product or rendering a service
Sales- No entry
Expenses- No en
Client/customer wants retain our services for next year
1-may we do the same amount of work every month
Monthly amount; 10,000
May-dec; 8 months.
2. .financial pressures
Quality of emp
3. how do we calculate net realizable value?
Accounts receivable minus allowance for doubtful accounts
4. general questions regarding: how to calculate the uncollectible accounts receivable.
Aging. Older it is less change we were going to accept it.
Balance sheet (permanent account) income state (temporary account)
Cost of goods sold
Beginning inventory- 100
*Cost of goods available for sale-350
(Dont sell) Ending inventory 120. balance sheet
Cost of goods sold is 230. income state
What is Accounting?
Communication of financial performance over a period of time.
5 Major types of companies
1. Manufacturing: creates, makes, bakes, cooks, develops a PRODUCT and then sells it; CocaCola, Started in 1886.
2. Merchandising: buys a product
is a tenant who is seeking a place to rent out space
we pay out for the ne ext
this payment represents the next 12 months of rented space
cash paid out
The most basic element of classifying costs is called a _Cost object_
A _Cost object_ is (according to the textbook) anything for which cost data
What does this mean in plain English
A budget is a detailed, quantitative plan for the future. Budgets are used for two
_planning_ developing goals and preparing budgets to achieve those goals
_control_ gathering feedback to make sure the plan is
1. The break-even point is that level of activity where:
a. Total revenue equals total cost.
b. Variable cost equals fixed cost.
c. Total contribution margin equals the sum of variable cost plus fixed
Segmented Income Statement
Segment margin is equal to segment sales revenue minus:
Variable cost of goods sold, variable selling and administrative expenses and
traceable fixed costs
Variable cost of goods
Full file at http:/testbankcafe.CH/Test-Bank-for-Fundamentals-of-Cost-Accounting-3rd-Edition-Lanen,Anderson,-Maher
Cost Concepts and Behavior
True / False Questions
1. The cost of an item is the sacrifice made to acquire it.
2. An ex