CHAPTER 3 The Accounting Information System ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions 1. Transaction identification. 1‚ 2‚ 3‚ 5‚ 6‚ 7‚ 8 2. Nominal accounts. 4‚ 7 3. Trial balance. 6‚ 10 4. Adjusting entries. 8‚ 11‚ 13‚ 14 5. Financial statements. 6. Closing. 12 7. Inventory and cost of goods sold. 9 8. Comprehensive accounting cycle. *9. Brief Exercises Exercises Problems 1‚ 2 1‚ 2‚ 3‚ 4‚ 17 1 2‚ 3‚ 4 1‚ 2‚ 7‚ 8 5‚ 6‚ 7‚ 8‚ 9‚ 10‚ 20 1‚ 2‚ 3‚ 4
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protected from creditors in case of legal action- False 2. A partnership is considered an “entity” for accounting purposes- True 3. “Mutual agency” means that one partner can legally bind all the other partners to a contract if it appears that he or she is acting appropriately- True 4. Partners are taxed on their drawings regardless of their share of the income. False 5. If a partnership agreement is silent regard to how profits and losses are to be shared‚ they will be deemed to be shared
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Nimo Lorenzo ACCTG 117 Payroll Accounting Management Monday Morning Class 02/04/2014 Matching Quiz 1. B 2. D 3. F 4. A 5. H 6. I 7. J 8. C 9. E 10. G Questions for Review 1. The Department of Labor enforces the Fair Labor Act which sets the basic federal minimum wage at $ 7.25 per hour and for the state of California’s minimum wage is $ 8.00 per hour. 2. The information that needs to be maintained by FLSA concerning employees’ wages earned is data about hours worked. 3. An employer
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Gen Bio II‚ Spring 2013 Extra Credit Quiz 2 1) If two modern organisms are distantly related in an evolutionary sense‚ then one should expect that A) they live in very different habitats. B) they should share fewer homologous structures than two more closely related organisms. C) their chromosomes should be very similar. D) they shared a common ancestor relatively recently. E) they should be members of the same genus. 2) Within a few weeks of treatment with the drug 3TC‚ a patient’s
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UNIVERSITY OF MARYLAND UNIVERSITY COLLEGE PRINCIPLES OF ACCOUNTING I ACCT220 FUN QUIZ FIVE: CHAPTER FIVE I. Multiple Choice. Select the best lettered answer for the number question or best lettered completion for the numbered partial statement. Record the letter next to the number. 1. _____ In a perpetual inventory system‚ cost of goods sold is recorded a. on a daily basis. b. on a monthly basis. c. on an annual basis. d. with each sale. 2. _____ Jake’s Market recorded the following events
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CHAPTER 5: ACCOUNTING FOR GENERAL CAPITAL ASSETS AND CAPITAL PROJECTS OUTLINE |Number |Topic |Type/Task |Status | | | | |(re: 14/e) | |Questions: | |
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include:Answer Selected Answer: freedom of choice‚ freedom from excess regulation‚ and freedom from too much taxation. Correct Answer: freedom of choice‚ freedom from excess regulation‚ and freedom from too much taxation. * Question 2 5 out of 5 points Which of the following is not considered a natural resource_____Answer Selected Answer: soybeans. Correct Answer: soybeans. * Question 3 5 out of 5 points In order to effectively compete many companies
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Quiz 2: Evidence of Evolution | | 1. Which of the following would be considered homologous structures? Question options: |[pic] |tentacles of an anemone and tentacles of a squid | |[pic] |wings of a bird and arms of a human | |[pic] |wings of a butterfly and wings of a bird | |[pic] |lungs of a mammal and trachea of an insect | 2. According to modern evolutionary theory‚
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workstations‚ then its annual depreciation costs will rise by $1‚750‚000 $700‚000 $350‚000 $17‚500‚000 None of these Income Statement Data Quarter 1 (in 000s) Sales Revenues $50‚000 Operating Profit 14‚400 Net Income $ 9‚555 Balance Sheet Data Total Current Assets $70‚000 Total Assets 139‚000 Total Current Liabilities 26‚000 L-T Debt (draw against credit line) 23‚000 Total Equity 90‚000 Other Financial
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| | | Recorded as operating transfers to the debt service fund | | | | Included as revenues of the debt service fund | | | | Both A and B are correct | | | | Points Received: | 1 of 1 | | Comments: | | | | 2. | Question : | If taxes and/or special assessments are levied by the General Fund and then are subsequently transferred to the debt service fund‚ they are: | | | Student Answer: | | Recorded as revenues of the debt service fund | | |
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