Chapter 1 Homework E1-1
1. B
2. F
3. E
4. H
5. G
6. C
7. D
8. A
E1-4
MOLINA CO.
INCOME STATEMENT
FOR THE YEAR ENDED December 31, 2014
Revenues
Service Revenue
$58,000
Expenses
Advertising Expense
Rent Expense
Utilities Expense
Salaries and Wages Expense
T
ACC 556 Financial Accounting for Managers
Chapter 5 Homework
Due Week 3 and worth 10 points
Directions: Answer the following four questions on a separate document. Explain how you reached the
answer or show your work if a mathematical calculation is neede
ACC 556 Financial Accounting for Managers
Chapter 1 Homework
Due Week 1 and worth 10 points
Directions: Answer the following four questions on a separate document. Explain how you reached the
answer or show your work if a mathematical calculation is neede
ACC 556 Financial Accounting for Managers
Chapter 7 Homework
Due Week 4 and worth 10 points
Directions: Answer the following four questions on a separate document. Explain how you reached the
answer or show your work if a mathematical calculation is neede
E3-1
Selected transactions for Warner Advertising Company, Inc., are listed here.
1. Issued common stock to investors in exchange for cash received from investors. Increase in
assets, increase in stockholders equity
2. Paid monthly rent. Decrease in asset
E4-1
The following independent situations require professional judgment for determining when to recognize
revenue from the transactions.
(a) Southwest Airlines sells you an advance-purchase airline ticket in September for your flight home
at Christmas. Re
1 out of 1 points
Economic events that require recording in the financial statements are called accounting
transactions.
Answer
Selected
True
Answer:
Correct Answer:
Question 2
1 out of 1 points
An account is often referred to as a T-account because of
Question 1
1 out of 1 points
A business organized as a separate legal entity owned by stockholders is a partnership.
Answer
Selected
False
Answer:
Correct Answer:
Question 2
1 out of 1 points
Accounting communicates financial information about a busines
Chapter 10
E10-6
(a) How many season tickets did the Wildcats sell?
a. $1,728,000 / 320 = 5400 total tickets
b. $1,188,000 / 320 = 3712.5
(b) How many home games had the Wildcats played by the end of October?
(c) Prepare the entry for the initial recordin
User
Diana N. Mcdaniels
Course
Financial Accounting for Mgrs
Test
Chapter 4 Homework
Started
4/19/15 4:19 PM
Submitted 4/19/15 5:34 PM
Status
Completed
Attempt Score 15.77778 out of 29 points
Time Elapsed 1 hour, 14 minutes.
Instructions
Question 1
1 out
User
Diana N. Mcdaniels
Course
Financial Accounting for Mgrs
Test
Chapter 9 Homework
Started
5/24/15 10:06 AM
Submitted 5/24/15 10:37 AM
Status
Completed
Attempt Score 21 out of 29 points
Time Elapsed 30 minutes.
Instructions
Question 1
1 out of 1 points
Chapter 9 Homework
E9-1
The historical cost principle dictates how companies record assets at their cost at purchase as well as
while the item is held.
1. Paid $7,000 of accrued taxes at the time the plant site was acquired.
a. Land
2. Paid $200 insurance
User
Diana N. Mcdaniels
Course
Financial Accounting for Mgrs
Test
Chapter 8 Homework
Started
5/7/15 9:33 AM
Submitted 5/7/15 10:45 AM
Status
Completed
Attempt Score 22 out of 28 points
Time Elapsed 1 hour, 11 minutes.
Instructions
Question 1
1 out of 1 po
User
Diana N. Mcdaniels
Course
Financial Accounting for Mgrs
Test
Chapter 5 Homework
Started
4/27/15 12:29 PM
Submitted 4/27/15 1:24 PM
Status
Completed
Attempt Score 25 out of 29 points
Time Elapsed 55 minutes.
Instructions
Question 1
0 out of 1 points
A
ACC 556 Financial Accounting for Managers
Chapter 11 Homework
Due Week 7 and worth 10 points
Directions: Answer the following four questions on a separate document. Explain how you reached the
answer or show your work if a mathematical calculation is need
Review Test Submission: Chapter 2
Homework
1
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Content
2
User
Diana N. Mcdaniels
Course
Financial Accounting for Mgrs
Test
Chapter 2 Homework
Started
4/18/15 2:34 PM
Submitted 4/18/15 3:10 PM
Status
Completed
Attem
Review Test Submission: Chapter 7
Homework
1
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Content
2
User
Diana N. Mcdaniels
Course
Financial Accounting for Mgrs
Test
Chapter 7 Homework
Started
5/3/15 12:22 PM
Submitted 5/3/15 12:51 PM
Status
Completed
Attem
User
Diana N. Mcdaniels
Course
Financial Accounting for Mgrs
Test
Chapter 6 Homework
Started
5/3/15 9:25 AM
Submitted 5/3/15 9:59 AM
Status
Completed
Attempt Score 23 out of 29 points
Time Elapsed 33 minutes.
Instructions
Question 1
1 out of 1 points
Raw
E6-1
Columbia Bank and Trust is considering giving Gallup Company a loan. Before doing so, it decides that
further discussions with Gallups accountant may be desirable. One area of particular concern is the
Inventory account, which has a year-end balance
Chapter 7 Homework
E7-1
Establishment of responsibility ensures only tellers can input entries and only
supervisors can approve them
Segregation of duties supervisors cant do what the tellers can do and vice
versa
Physical controls login procedures on the
ACC 556 Financial Accounting for Managers
Chapter 2 Homework
Due Week 1 and worth 10 points
Directions: Answer the following four questions on a separate document. Explain how you reached the
answer or show your work if a mathematical calculation is neede
ACC 556 Financial Accounting for Managers
Chapter 3 Homework
Due Week 2 and worth 10 points
Directions: Answer the following four questions on a separate document. Explain how you reached the
answer or show your work if a mathematical calculation is neede
ACC 556 Financial Accounting for Managers
Chapter 4 Homework
Due Week 2 and worth 10 points
Directions: Answer the following four questions on a separate document. Explain how you reached the
answer or show your work if a mathematical calculation is neede
ACC 556 Financial Accounting for Managers
Chapter 6 Homework
Due Week 3 and worth 10 points
Directions: Answer the following four questions on a separate document. Explain how you reached the
answer or show your work if a mathematical calculation is neede
ACC 556 Financial Accounting for Managers
Chapter 9 Homework
Due Week 6 and worth 10 points
Directions: Answer the following four questions on a separate document. Explain how you reached the
answer or show your work if a mathematical calculation is neede
ACC 556 Financial Accounting for Managers
Chapter 8 Homework
Due Week 5 and worth 10 points
Directions: Answer the following four questions on a separate document. Explain how you reached the
answer or show your work if a mathematical calculation is neede
ACC 556 Financial Accounting for Managers
Chapter 10 Homework
Due Week 7 and worth 10 points
Directions: Answer the following four questions on a separate document. Explain how you reached the
answer or show your work if a mathematical calculation is need
BE2-1
The following are the major balance sheet classifications:
Current assets (CA)
Current liabilities (CL)
Long-term investments (LTI)
Long-term liabilities (LTL)
Property, plant, and equipment (PPE)
Common stock (CS)
Intangible assets (IA)
Retained ea