EXAM 1 – FORM A ACC 242 Fall‚ 2013 Name__________________________________ 1. The following information relates to a job cost system in a factory: For the year Estimated Actual Factory Overhead $600‚000 $635‚000 Direct Labor $500‚000 $525‚000 Direct Materials $500‚000 $520‚000 Direct Labor Hours 300‚000 hrs. 290‚000 hrs. The factory uses a predetermined overhead rate per direct labor hour to apply factory overhead. During the year jobs which cost $1‚200
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ACC/422 final exams http://www.finalexamguideline.com/main.sc 1) Which of the following is NOT considered cash for financial reporting purposes? 2) What is the preferable presentation of accounts receivable from officers‚ employees‚ or affiliated companies on a balance sheet? 3) Which of the following is considered cash? 4) If a company employs the gross method of recording accounts receivable from customers‚ then sales discounts taken should be reported
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This paperwork - ACC 422 Week 3 Discussion Questions - consists of: DQ 1: What is the purpose of depreciation? Does the book value of a fixed asset (cost minus accumulated depreciation) communicate to a user what the asset is worth? Explain why or why not. Should the financial statements reflect the value of fixed assets? Explain why or why not. DQ 2: What is an intangible asset? Should all intangible assets be subject to amortization? Explain why or why not. Why are some
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Textbook Problems Government Fund Stephanie Wallis ACC 460 Neil Fischer May 5‚ 2015 Chapter 9 Exercise 9-3 Part A Equipment 70‚000 Capital Assets 70‚000 (To record copier transferred) Cash 35‚000 Internal Service Fund 35‚000 (To record contribution from general fund) Cash 270‚000 Note Payable 270‚000 (To record note for 3 years) Equipment 160‚000 Accounts Payable 160‚000 (To record equipment that was purchased) Capital project facilities 100
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Comparing and contrasting current and noncurrent Troy Martinez ACC/400 September 25‚ 2010 Debra Latimore University of Phoenix Comparing and contrasting current and noncurrent What are current assets? Current assets are also known as liquid assets. The most common of current assets can be found in the Accounts Receivables department. They can be found in the form of invoices. Current assets are any assets that can be turned into cash in less than a year. Other
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ACC 557 Week 9 DQ1 "Cash Flow Reporting" Please respond to the following: Given the complexities related to preparing and interpreting the statement of cash flow‚ evaluate the current requirement under GAAP and IFRS‚ indicating improvements that you would make to each method’s requirement to better serve the users of the information. Provide a rationale for your changes. Analyze the impact of erroneous classifications in the Operating Activities section of the statement of cash flows‚ detailing
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STRATHMORE COLLEGE SUBJECT 2: LAW I PART 1 DISTANCE LEARNING PACK COPYRIGHT ALL RIGHTS RESERVED. No part of this publication may be reproduced‚ stored in a retrieval system or transmitted in any form or by any means‚ electronic‚ mechanical‚ photocopying‚ recording or otherwise without the prior written permission of the copyright owner. This publication may not be lent‚ resold‚ hired or otherwise disposed of by any way of trade without the prior written consent of the
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Peter Drucker’s 4 requirements for entrepreneurial management are: first‚ a new venture must focus on the market; second‚ it must has financial foresight and especially planning for cash flow and capital needs ahead; third‚ it requires a top management team built long before it actually needs one and long before it can actually afford one; forth‚ it requires the founding entrepreneur a decision in respect to his or her own role of work and relationships. All 4 requirements pertain to the early
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Guillermo Furniture Store Analysis ACC/561 September 25‚ 2010 Guillermo Furniture Store Analysis Emerging markets‚ new processes and increased competition affect business decisions for many small businesses. Guillermo Furniture Store is a small business currently experiencing the affects of emerging competition. Because of this‚ the organization decided to take a more prominent role in distributing. The authors will be taking a deeper look into this decision and will provide a detailed
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The pack of ACC 422 Week 5 Idividual comprises: Assignments from the Text a. Prepare solutions to the following exercises from the text: Chapter 13: E13-1‚ E13-7‚ E13-11‚ E13-13 b. Prepare a response to the following Question Business - Accounting ACC 422 All Week 5 Assignments - Individual WileyPlus Assignment Includes: Week 5 Discussion questions 1‚ 2‚ 3‚ 4 Week 5 Learning team assignment Week 5 Learning Team Problem Presentation
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