Camosun College Financial Accounting Acct110 PRACTICE Final Exam B. Edwards Name: ____________________________________________________________ ___________________ Question One: A/R and Bad debts (15 minutes) Read each transaction and record the appropriate journal entry for Morrison Consultants‚ which has a June 30 year end. Explanations are NOT required. 1. On June 30 2011‚ Morrison prepares an aging schedule of accounts receivable that shows estimated uncollectible accounts of $5‚200
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1. Which‚ if either‚ of the following statements is or are true? I. The co-ownership of business property‚ where only minimal services are provided by the owners for their tenants‚ generally constitutes a partnership for federal income tax purposes. II. As a general rule‚ when a person obtains an interest in partnership capital through rendition of services‚ compensation (ordinary) income is recognized to the extent of the fair market value of the interest received. a. I only. b. II
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of cash flows. Answer Selected Answer: Nil. Correct Answer: $12‚000. Question 2 1 out of 1 points If ’other expenses’ in the profit and loss report is $32‚000 including $8‚000 of depreciation‚ accrued ’other expenses’ at the beginning of the year is $1‚000 and 0 at the end of the year‚ the figure for ’other expenses’ that will appear in the statement of cash flows for the year is: Answer Selected Answer: $25‚000. Correct Answer: $25‚000.
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Accounting 4210‚ Practice Exam 1 Solution Name______________ Section___ Instructions: You have 75 minutes to complete 11 questions on this exam. The 10 multiple choice questions are worth 4 points each. a. Credit will only be given for clearly circling one of the four options. The workout questions are worth a total of 60 points. a. Credit will only be given if you clearly show your work‚ and clearly indicate the final answer. Good luck! 1. SuperFine Restaurant Supply Company reported the following
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Audit risk: risk that auditor has not uncovered a material misstatement in the financial statements Potential accounts at risk: Provision for compensation claims/litigation Inventory Accounts receivable Accounts payable Brand name PRACTICE EXAM 2‚ QUESTION 3‚ PART 1 (PP.240-241) Identify 5 business factors and explain their impact on risk of material misstatement Also identify account balance most affected. Business factor (i) Listed on stock exchange Explanation of impact Risk - increased
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Practice Exam 2 1. Short Stay Surgery uses a job costing system for all patients who have surgery. The clinic uses a normal costing system with operating hours as the allocation base. For the month of March‚ estimated total operating hours in the surgery suits were 3‚200 hours. The estimated overhead costs for the suites were $640‚000. Patient Sarah Handy was in surgery for 2.5 hours. Other costs related to Handy’s surgery include: Patient medicine $ 50
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limited life. B. Its owner’s personal resources are at stake. C. Its ownership is easily transferable via the sale of shares of stock. D. It is simple to establish. E. It has double taxation. 2. External users want answers to all of the following questions except: A. Is the company earning satisfactory income? B. Will the company be able to pay its debts as they come due? C. Will the company be able to afford employee pay raises this year
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Name: ____________________________ CHEM 420 Exam 1 Fall 2013 Dr. David Hodapp Read and sign the CRC Honor Code on the next page before starting the exam. Answer all essay questions using complete sentences and proper spelling‚ punctuation‚ and grammar. Points Multiple Choice 34 Matching 12 Fill-In 14 Problems/Essay Questions 90 Total 150 o G = -RT(lnK ) = -2.303RT(log K ) 10 eq k r Ae eq Ea / RT 1 Cosumnes River College Honor Code*
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Helping and Action Verbs 6. Karen is cooking. 7. We are singing. 8. He will go. 9. It should leave. 10. I would clean. 1. 2. 3. 4. Read the sentence Identify the Verb(s) Identify the Subject Noun(s) Draw a line between the Subject and the Verb. ANSWER KEY Diagramming Sentences #1 Nouns & Verbs Example: SN AV John | searched. Nouns and Action Verbs SN AV 1. Aaron| worked. SPN AV 2. They | played. SPN AV 3. She | watched. SPN AV 4. You | raked. SN AV 5. Jeff | yelled. Nouns‚ Helping and Action
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2012 Exam Question Answer Q1. Marketing can be defined as an organization function and a set of process foe creating‚ communicating and delivering value to the customer and for managing customer relationship in a way that it benefits the organization and its stakeholders. In order to understand the marketplace and customer needs and wants‚ marketers need to identify the needs of the consumer‚ which is defined as the state of felt deprivation‚ such as hunger and self-actualization needs.
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