Hawaii Pacific University
1132 Bishop St.
ACCTNG 2010EO Accounting Principles II
Section E ON LINE
Mr. Thomas Kam, MBA, CPA, CMA
Office: FH-510B-1 (1132 Bishop St.)
Office Phone: 544-9348
Office Hours: Monday, Wednesday; 12:30 2:00 PM
OR BY AP
ACCT2010 QUIZ #1 CHAPTERS 1-14 50 minutes YOUR NAME_
Required: Record General Journal Entries, with symbols, for the following transactions and
adjustments. No explanations are needed for your entries. You may use your calculator. This is a
Chapter 11 Problem 4
State briefly the objective of the billing process. What important document is created by the
The main objective of the billing process is to notify the customer of the amount due for the
goods or services that wer
PROBLEMS 23-3A and 23-5A
Problem 23-3A (70 minutes)
Cash collections of credit sales (accounts receivable)
From sales in
PROBLEMS 14-2A, 14-3A AND 15-1A,15-5A
Problem 14-2A (40 minutes)
Discount on Bonds Payable.
Sold bonds on stated issue date.
[Note: The semiannual amounts for (a), (b), and (c) bel
Question 1 .1.6 out of 1.6 points
Correct The production activities for a customized product represent a(n):
Selected Answer: b.
Correct Answer: b.
. Question 2 .1.6 out of 1.6 points
Correct Abbe Company reported the following financial
Chapter 19 - Job Order Cost Accounting
PROBLEMS 19-1A and 3A.
Problem 19-1A (80 minutes)
Part 1 Total manufacturing costs and the costs assigned to each job
Direct labor. 18,000
Chapter 13 Problem 13-1A and 13-5A
Problem 13-1A (30 minutes)
To record sale of 5,000 shares of $25 par value common stock for $30
To record issuance of 2,500 shares of $25 par value common stock to
the companys promoters for their
PROBLEMS 24-1A and 24-3A
Problem 24-1A ( 40 minutes)
Part 1 Direct Materials Variances
Direct materials cost variances
Actual units at actual cost [1,000,000 lbs. @ $4.25].
Standard units at standard cost [1,050,000 lbs. @ $4.00].
1. This cost increases in direct proportion to increase in volume; its amount is constant for
each unit produce. E. Variable cost
2. This cost remains constant over a limited range of volume; when it reaches the end of its
limited range, it
Problem 13-1 A (Answers)
a. Sold 5000 of its treasury shares at $30.00 cash per share
(Calculation: $125,000 / $25.00= 5,000 shares
150,000 / 5000 = $30.00 per share)
b. A Corporation issued 2500 shares of no-par stock to its promoters, estimated to be
What is the advantage of issuing bonds instead of obtaining financing from the
There are many advantages of issuing bonds instead of obtaining financing from the companys owners.
One of the main advantages is that bonds do not affect any
Both Book value per share and market value for share can be a very significant tool for investors since it
helps them to build portfolio.
Market Value is the easiest stock values to determine. Market value per share is merely the price of each
share on th
Study all 71 terms Study 0 termterms only
. Managerial accounting information:
B. Involves gathering information about costs for planning and control decisions.
Managerial accounting is different from financial accounting in that: