ACC/561 Sample Final Examination Week One: Decision Making Objective: Explain the role of budgets and performance reports in the management decision-making process. 1. The Hola Company held a Christmas party. The company expected attendance of 100 persons and prepared the following budget: Hotel room rental $600 Food 500 Entertainment 800 Decorations 300 Totals $2‚200 After all bills for the party were paid‚ the total came
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the board of directors. Consider all of the presentations from the employees’ perspective as a whole‚ as so forth. Rank as high‚ medium‚ or low. Importance: An overall ranking of the importance of taking into consideration the stakeholders’ concerns. 1 equals high importance; 2 equals medium importance; 3 equals low importance. |Stakeholder |Interest in the Issue |Influence |Urgency |Persuasiveness |Importance
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($40‚000 + $90‚000 + $74‚000) - $65‚000 = $87‚000 - $88‚000 = $116‚000 (c) Current ratio. 2011 2012 $152‚000 = 2.34:1 $204‚000 = 2.32:1
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balances in its accounts on 5/1/09 Debit Credit Cash $ 210‚000 Account Receivable 90‚000 Inventory 200‚000 Account Payable 100‚000 Common Stock (100‚000 shares $1 par) 100‚000 Paid in Capital in excess of par 250‚000 Retained Earnings 1/1/09 0 Net Sales Revenue 250‚000 Cost of Merchandise Sold 150‚000 Expenses 50‚000 Transactions for May: 1) Paid expenses of $10‚000 on 5/1/09 (debit “expenses” even
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MTT (Set 5 with answer) 1) The following is selected information from the records of Ray‚ Inc.: Purchases of raw materials $ 6‚000 Raw materials‚ beginning 500 Raw materials‚ ending 800 Work-in-process‚ beginning 0 Work-in-process‚ ending 0 Cost of goods sold 12‚000 Finished goods‚ beginning 1‚200 Finished goods‚ ending 1‚400 What is the total amount of conversion costs? a. $5‚500 b. $5‚900 c. $6‚100 d. $6‚500 ANSWER: Choice "d" is correct. Conversion costs (labor and overhead)
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recognize revenue upon receipt of the pledge. In the fund statements‚ the donation cannot be recognized as revenue until it is available for expenditure. Problems 4-1‚ 4-2‚ 4-7‚ and 4- 8 4-1. 1. d 6. d 2. a 7. b 3. b 8. b 4. c 9. a 5. c 10.a 4-2. 1. e 6.j 2.m 7.f 3.e 8.c 4.h 9.p 5.h 10.p 4-7. 1. Journal entries A.Cash 200‚000 Grant Revenue 200‚000 B. Repair Expenditure 150‚000 Cash 150‚000 c. Cash 200‚000 Deferred revenue 200‚000 2. Revenue that
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Calculators which store text are NOT allowed - This exam consists of 7 questions. - Total number of pages including cover sheet: 11 - Answer all questions in your exam booklet. THIS EXAMINATION MUST BE RETURNED Question 1 (12 marks – 22 minutes) The Baloney Co. is a Canadian controlled private corporation. The company reports the following information for its December 31‚ 2010 fiscal year-end:
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Understanding Financial Reports 1 TUI UNIVERSITY Module 2 Session Long Project ACC501: Accounting for Decision Making Introduction Part I. This particular project involves the analysis of cash flow from Lowes. Lowe’s Cos Inc (http://www.lowes.com/) is a $47.6B company. I shop there quite a bit. In researching this publicly held company‚ I utilized a few other websites to analyze the financial situation of Lowes and one of its
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ACC205Week 5 Final Paper (WalMart Financial Analysis Report) 1 Rosie Collins ACC 205: Principle of Accounting I Traci West March 31‚ 2014 ACC205Week 5 Final Paper (WalMart Financial Analysis Report) 2 Financial accounting reports‚ to include balance sheets and income statements provide accountants and the general public a snap shot of a company’s overall financial condition and
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Week 5 – Assignment Ilba Rodriguez ACC 205: Principles of Accounting I Prof. Theresa Murray November 16‚ 2014 Problem 1 – Liquidity ratios. A. Edison Stagg Thornton Current ratio 3.56 3.69 3.83 Quick ratio 3.06 2.78 2.5 Current ratio calculations: Edison ($6‚000 (cash) + $3‚000 (short-term investments) + $2‚000 (AR) + $1‚000 (inventory) + $800 (prepaid expenses)) / ($200 (AP) + $3‚100 (notes payable) + $300 (accrued payables)) = 3.56 Stagg ($5‚000 (cash) + $2‚500 (short-term investments) + $2‚500
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