ACCT 101 PRACTICE QUESTIONS by Adekoya Ayodele OBJECTIVE The objective of this project is to enable student to record transactions into the accounting cycle. The second objective is to enable them record adjustments and post them to the General Ledger The third Objective is to enable them prepare accurate Income Statements and Balance Sheets. INSTRUCTIONS: Each group is required to 1. Journalize the transactions 2. Post the transactions from journal to ledgers. 3. Prepare
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study of tourism considers the various intermediaries and institutions that perform tourism activities. It emphasizes institutions such as the travel agency. This approach requires an investigation of the organization‚ operating methods‚ problems‚ costs‚ and economic place of travel agents who act on behalf of the customer‚ purchasing services from airlines‚ rental car companies‚ hotels‚ and so on. An advantage of this approach is that the U.S. Census Bureau conducts a survey every five years on
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TASK 1: Cost Classification and Ethics The Sorrel Pharmaceuticals Corporation manufactures a variety of drugs that are marketed internationally. Inventories on May 31 and June 30 were as follows: May 31 June 30 Materials Inventory $354‚100 $327‚400 Work in Process Inventory 112‚600 116‚400 Finished Goods Inventory 138‚500 142‚800 Purchases of materials for June were $142‚600. Direct labor costs were incurred and computed on the basis of 27‚000 hours at $8 per hour. Actual overhead costs incurred
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statement (Yes. Accounts receivable will be on the balance sheet and the advertising expenses on the income statement) 2. How does financial accounting differ from managerial accounting managerial accounting deals with internal reporting and financial deals with internal reporting (Yes. Managerial accounting deals with internal reporting and financial accounting deals with external entities) 3. What calculation would you use to determine the net income Revenues minus expenses equal net income. (Yes
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[pic] |Course Syllabus School of Business ACC/290 Version 3 Principles of Account I Course Start Date: : 05/20/2013 Course End Date: 06/24/2013 Group Number: GA12BSB12 | |Copyright © 2011by University of Phoenix. All rights reserved. Facilitator Information hours. I am available to answer questions between class meetings by phone‚ OLS postings or email. Also‚ I will be in class approximately
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1. Two primary external users of accounting information are investors and creditors. TRUE 2. The economic resources that are owned by a business are called stockholders’ equity. FALSE 3. Net income for the period is determined by subtracting total expenses and dividends from revenues. FALSE 4. The heading for the income statement might include the line “As of December 31‚ 20xx.” TRUE 5. Net income is another term for revenue. FALSE 6. The primary purpose of the statement of cash
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Which of the following defines variable cost behavior? Total cost reactionto increase in activity|Cost per unit reactionto increase in activity| a.|remains constant remains constant| b.|remains constant increases| c.|increases increases| d.|increases remains constant| ____ 2. When cost relationships are linear‚ total variable prime costs will vary in proportion to changes in a
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TUI University ACC 403 Mod 2 SLP Statement of Income | | Smith Company | | | | | | | | | | | | | | | | | | | | Year Ended December 31‚ 2012 | | | | | | | | | | Revenues: | | | | | | | | | Net Sales | | | | | | | $406‚000.00 | | Other income | | | | | | $0.00 | | | | | | | | | $406‚000.00 | Cost and expenses: | | | | | | | | | Cost of goods | | | | | | $289‚500.00 | | Salaries | | | | | | | $67
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This paper will discuss the different tactics and approaches that the four Presidents of the United States had during the Vietnam War. I will review the different approaches that each President had with changing political‚ cultural‚ and societal atmospheres outside of Vietnam. “For there will never cease to be poor in the land. Therefore I command you‚ ‘You shall open wide your hand to your brother‚ to the needy and to the poor‚ in your land.” Deuteronomy 15:11 President Eisenhower President
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UNIT FOUR: Music Appreciation Text Questions Please complete the following questions. Answer the questions on this document. Submit your work as a file attachment. This means you complete all work in a word processing document (e.g.‚ Microsoft Word) and attach the file using the dropbox tool. The answers to the Text questions are worth 75 points. 75-70=A 69-64=B 63-56=C 55-50=D 49 or less = F Review Questions (5 points each) 1. What were the three forms of English madrigals? Describe each type
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