ACCT 110 - FINANCIAL ACCOUNTING 1 SAMPLE MIDTERM TIME: 90 MINUTES Question Type Possible Marks 1-15 Multiple Choice 16 16 Journal Entries 10 17 Adjusting Entries 6 18 Closing Entries 3 19 Financial Statements 20 20 Other 5 Total Achieved 60 Letter Grade NO EXPLANATIONS ARE REQUIRED FOR JOURNAL ENTRIES. NAME ____________________________________ DATE _____________________________ ACCT 110 - Mock Midterm Page
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Week 3: Accounting for Intangible Assets Introduction Change from a manufacturing to a “knowledge based” industry Increase market to book gap Intangible Assets play a major role Assets: Definition * Resource controlled by an entity as a result of past events from which future economic benefits are expected to flow to the entity Assets Recognition Criteria * Recognition Criteria * Under AASB Framework (par 89) an asset is to be recognised in the balance sheet only when * It
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FINANCIAL TRANSACTIONS‚ ACCT 642-001 Fall Semester 2014 Faculty Name: Office Location: Faculty E-mail: Phone: Office Hours: Emily L. Lindsay‚ CPA‚ CGMA‚ MSA KSB‚ Room 14 Lindsay@american.edu (preferred contact) (202) 885-1902 (office); (240) 731-9764 (cell) M/TH 9:00 AM – 10:00 AM & 11:45 AM – 12:45 PM TH 3:15 PM – 5:15 PM and other days & times by appointment. Class Time & Location: TH 5:30 PM – 8:00 PM‚ KSB T-61 COURSE DESCRIPTION: With ACCT-641‚ this course is part of a two course sequence focused
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Internet Based Tax Briefing 1 – Haig Simmons Aqeel A Sahibzada‚ University of Maryland University College ACCT 613/9040 – Professor Bruce McClain October 14‚ 2012 Subject: Haig Simmons – Loss recognition on anthracite coal future contracts‚ capital or ordinary loss Facts Taxpayer Haig Simmons operates an in home coal heating and delivery service for consumer uses in Baltimore and Anne Arundel counties. Due to the instability of coal resources and prices‚ Haig Simmons enters
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According to our textbook the closing process serves a dual purpose 1. The temporary accounts (revenues‚ expenses‚ gains and losses) are reduced to zero balances‚ ready to measure activity in the upcoming accounting period‚ and 2. These temporary accounts are closed (transferred) to retained earnings to reflect changes that have occurred during that accounting period. (Spiceland p. 79). There are three times during an accounting period when a company should perform a closing process‚ daily‚ monthly
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Course Syllabus BUSI 320 Corporate Finance Course Description A study of the financial forms of business organization‚ with special attention to the corporation and its advantages and disadvantages; capital stocks and bonds; budgeting; dividend policy; failure and reorganization; financial accounting; and cash flows. Rationale This course introduces the student to the role of the corporate finance manager in both raising and using funds. It highlights the usefulness of knowing tax‚
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1. award: 0 out of 0.00 points On June 1‚ Cline Co. paid $892‚000 cash for all of the issued and outstanding common stock of Renn Corp. The carrying values for Renn’s assets and liabilities on June 1 follow: Cash $ 178‚000 Accounts receivable 237‚000 Capitalized software costs 374‚000 Goodwill 110‚000 Liabilities (201‚000 ) Net assets $ 698‚000 Note: Parentheses indicate a credit balance. On June 1‚ Renn’s accounts receivable had a fair value of $155
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English Idioms for Talking about Money Did you know that English can help you save money? The English language is full of advice on how to save for a rainy day. So if you are tired of penny-pinching‚ read on to learn the meaning of these useful expressions! Penny-pinching. This expression means to save money‚ or describes someone who is unwilling to spend money. For example‚ I have to do some penny-pinching this month if I want to buy that coat! A penny saved is a penny earned. This means
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Outline 1. Interactive session Intro to IT Fundamentals Tutorial 3 08 / 10 /2012 Tutor’s Name: Rachel Yen Chong 2. Assignment 2 3. Review Questions 1 2 Interactive session: Technology: Is IPad a Disruptive Technology? 1. Evaluate the impact of the iPad using Porter’s competitive forces model. 2. What makes the iPad a disruptive technology? Who are likely to be the winners and losers if the iPad becomes a hit? Why? 3. What effects will the iPad have on the business models of
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An Introduction to Modernism and The Great Gatsby Modernism: F. Scott Ftizgerald’s The Great Gatsby‚ which is widely considered to be one of the greatest of all American novels‚ was written in the 1920’s during the period of literary philosophy known as Modernism. Modernism was a philosophical and artistic movement of the early 20th century which portrayed the world of men as a harsh‚ hostile environment in which life had lost its meaning and men and women were isolated from each other‚ struggling
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