In a Set of Financial
Information Is Conveyed
about Property and
In this video, Professor Joe Hoyle introduces the essential points covered in Chapter 10.
View the video online at: http:/bit.ly/hoyle10-1
Why Is Financial
Information Adjusted Prior
to the Production of
In this video, Professor Joe Hoyle introduces the essential points covered in Chapter 5.
View the video online at: http:/bit.ly/hoyle5-1
1. THE NE
' CHAPTER 3
Z"! CHAPTER 3 IN-CLASS PRACTICE QUIZ
Assets == 200.
Liabilities == 135.
What is stockholders equity?
Total revenues for the year = 1,780.
Total expenses for the year = 865.
What is net income?
Total assets are 9 times total liabilities.
CHAPTER 7 CHAPTER 7 IN-CLASS PRACTICE QUIZ
Net Accounts Receivable is equal to
A. Accounts Receivable Allowance for Uncollectible Accounts
B. Accounts Receivable + Allowance for Uncollectible Accounts
C. Accounts Receivable - Bad Debt Expense
CHAPTER 4 CHAPTER 4 INCLASS PRACTICE QUIZ
Name 3 categories of accounts with normal debit balances.
Name 3 categories of accounts with normal credit balances.
What is the journal entry when $700,000 of land is purchased for cash?
What is the journal en
1h; PRESENT VALUE CONCEPTS
Interest is payment for the use of money.
Money received sooner is more valuable than money received later.
Simple interest vs. Compound interest
Simple: only the principal earns interest (better if borrower).
How Does a Company
Gather Information about Its
In this video, Professor Joe Hoyle introduces the essential points covered in Chapter 8.
View the video online at: http:/bit.ly/hoyle8-1
1. DETERMINING AND REPORTING THE COST
CHAPTER 12 CHAPTER 12 IN~CLASS PRACTICE QUIZ
On l/l/A, ABC Co. purchases 40% of XYZ Co. for $60,000.
XYZ Co. Net Income 3 $50,000 for 19A.
XYZ Co. Dividends = $15,000 for 19A.
What is the balance in Investment in XYZ at 12/3 l/A?
The equity accounts o
CHAPTER 13 CHAPTER 13 IN-CLASS PRACTICE QUIZ
A companys sales account totals $869,200, which includes 6% state sales
tax. What is the true sales revenue?
Warranty expense is estimated at 5% of sales.
Beginning balance in warranty payable = $13,600.
ECO 174 FINANCIAL ACCOUNTING
FALL 2014 COURSE SYLLABUS C. J. SKENDER
OBJECTIVES: The purpose of the rst part of this course is to facilitate an understanding of corporate
accounting practices in processing and reporting nancial informat
CHAPTER 16 CHAPTER 16 IN-CLASS PRACTICE QUIZ
100 shares of treasury stock were purchased at $30/share.
40 of these shares were later sold at $32/share.
The other 60 of these shares were later sold at $26/share.
Make the three journal entries associated
io-r: CHAPTER 10 IN~CLASS PRACTICE QUIZ
Three machines are acquired for $48,000 in one lump~sum.
An independent appraiser valued these machines at $16,000, $20,000, and
Record the entry on the date of purchase.
CHAPTER 1 CHAPTER 1 IN-CLASS PRACTICE QUIZ
An investor purchases shares on 1/1/1 for $100.00. During the year,
annual dividends of $2.00 per share were declared and paid.
The market price of the stock on 12/31/1 is $114.00.
Mat is the investor's return
CHAPTER 2 CHAPTER 2 IN~CLASS PRACTICE QUIZ
Identify two examples of Assets.
Identify two examples of Liabilities.
Identify two examples of Revenues.
Identify two examples of Expenses.
What are net assets?
How do revenues occur? (Circle those that ap
TEST #1 SPRING 2000 NAME
The father of double entry bookkeeping is
A. Jermaine Jackson B. Wayne Newton
C. Paul Peterson D. Luca Pacioli
E. Cliff Richard
Which of the following is NOT a Big Five firm?
A. Andersen Worldwide B. Deloitte and Touche
. CHAPTER 14
W: CHAPTER 14 IN-CLASS PRACTICE QUIZ
On January 1, a company issued $1,000,000 of 10% term bonds with a
ve-year life paying interest every June 30 and December 31. How much
cash will the company receive on January 1 if the market rate was 1
CHAPTERS 8 & 9 CHAPTERS 8 & 9 1N~CLASS PRACTICE QUIZ
Beginning inventory 3 200 units @ $16.
Purchases = 600 units @ $17 and 800 units at $20.
Sales = 1,530 @ $50.
Units in ending inventory
Under periodic FIFO:
Cost of goods sol
CHAPTER 5 The Canboro Athletic. Club presented the following statements at the end of ZOXI:
Comparative Balance Sheets
Cash $ 9,390 $ 1,100
Dues Receivable 2,200 2,500
Investments 3,800 8,000
Furniture and Fixtures 1,0
CHAPTER 6 CHAPTER 6 IN-CLASS PRACTICE QUIZ
Dene or explain these:
U. S. GAAP
Sarbanes~0xley Act of 2002
Who is responsible for the fair presentation of a companys nancial