Printed below are examination-style quest-sons. Answer each quenion. by marking the best chmce 1n the space to
the left of the number. Also provide a response or give the required explanation, as directed, m the space
Make your answers m legible. which c
CHAPTER 12: GRADED HOMEWORK
CHAPTER 7: Graded Homework Solutions
Goods available for sale All methods
Next units in (7/13 purchase)
Next units in (7/25 purchase)
Goods available for sale
CHAPTER 6: Graded Homework Solutions
a. Outstanding checks of $12,000
b. Bank service charge of $15
c. Deposit in transit of $2,300
d. Interest earned of $5
dr Office Expenses (+E, SE) .
CHAPTER 9: GRADED HOMEWORK
Paid $600 for ordinary repairs.
Paid $16,000 for extraordinary repairs.
Paid cash, $200,000, for addition to old building.
Paid $250 for routine maintenance.
Purchased a machin
CHAPTER 13: GRADED HOMEWORK
LOCKEY FENCING CORPORATION
Year Ended December 31
Cost of Goods Sold
Selling, General, and Admin.
Income from Operations
Income before Income Tax
CHAPTER 11: GRADED HOMEWORK
April 15, 2010:
dr Dividends Declared (+D,-SE) (500,000 x 0.40).
cr Dividends Payable (+L) .
May 20, 2010:
No journal entry is recorded on the date of record.
June 14, 2010:
dr Dividends Payable (-L) .
CHAPTER 8: Graded Homework Solutions
Less: Allowance for Doubtful Accounts
Net Accounts Receivable
As of December 31, 2009, Extreme Fitness expected to collect $745,000.
dr Allowance for Doubtful A
adduce extra evidence at any time previous to issuance of a determination by the Board Such motion
shall sho ith particularity that such further proof is fabric and that there ere reasonable grounds for
failure to adduce such proof beforehand some other o
powerful pursuant to SEC release No File No PCAOB may just Rule Reconsideration a Scope of Rule A
party may file a movement for reconsideration of a final order issued by means of the Board b process A
movement for reconsideration will probably be filed i
CHAPTER 3: Graded Homework Solutions
Amount of Revenue Earned in February
b. No revenue earned in February; gift card
recorded as unearned revenue until used
c. No revenue earned in February; cash
collections in February relat
Duty of Loyalty An agent has a duciary duty to act loyally for the principals benet in all matters
connected with the agency relationship. The agent has an obligation to put the principal first, and to
strive to accomplish the principals goals. ' I
c. If so, how much process is due?
3" Liberty interests generally are obvious. Property interc. . I - I )include
asset is attached in advance of a lawsuit. However, property Interests a M . - -
attendance at a public school and a govt job.
4. How much pro
A. A tort is a violation of a duty imposed by civil law. The victim of a tort
generally sues for damages, involving loss to property or personal injury.
B. A tort is different than a crime. A crime is a wrong against all society which is
prosecuted by th
l. Duty of landowners
a. Lowest liability -* trespassing adults
i. Trespasser - on prep-erty without consent
ii. Landowner liable only for intentional injury or other
gross misconduct. No liability for negligent injury.
b. Trespassing children
3». Under this clause, the Constitution, federal statutes, and treaties
me me We law of the land.
-" U5Evi Jm Lake, S+m¥ES W41: Jug-n3 H-
B. Emcume Power A * " ' - ' to the Constitution protect people from the power of the federal
mad state g
CHAPTER 1: Graded Homework Solutions
(1) Accounts Receivable
(2) Selling and Administrative Expenses
(5) Promotion and Advertising Expenses
(6) Sales Revenue
(7) Notes Payable
(8) Retained Earnings