3‚ 52.Inventory accounting changes relative sales value method net real-izable value.7‚ 847‚ 83.Purchase commitments.95‚ 69‚ 10964.Gross profit method.10‚ 11‚ 12‚ 13711‚ 12‚ 13‚ 14‚ 15‚ 16‚ 174‚ 55.Retail inventory method.14‚ 15‚ 16818‚ 19‚ 20‚ 22‚ 23‚ 266‚ 7‚ 8‚ 10‚ 114‚ 56.Presentation and analysis.17‚ 1892197.LIFO retail.191022‚ 2312‚ 13‚ 148.Dollar-value LIFO retail.1124‚ 25‚ 26‚ 2711‚ 139.Special LIFO problems.2813‚ 14 This material is discussed in an Appendix to the chapter. ASSIGNMENT CLASSIFICATION
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Chapter 1 The Financial Statements Short Exercises (5 min.) S 1-1 Computed amounts in boxes Total Assets = Total Liabilities + Stockholders’ Equity a. $300‚000 = $150‚000 + $150‚000 b. 280‚000 = 110‚000 + 170‚000 c. 210‚000 = 50‚000 + 160‚000 (5 min.) S 1-2 Ethics is a factor that should be included in every business and accounting decision‚ beyond the potential economic and legal consequences
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CHAPTER 3 PROBLEM 3-43 (35 MINUTES) 1. Predetermined overhead rate = budgeted overhead ÷ budgeted direct-labor cost = $2‚730‚000 ÷ $2‚100‚000 = 130% of direct labor cost 2. Additions (debits) total $7‚802‚500 [$2‚800‚000 + $2‚175‚000 + ($2‚175‚000 x 130%)]. 3. The finished-goods inventory consisted of job no. 3154‚ which cost $175‚750 [$78‚000 + $42‚500 + ($42‚500 x 130%)]. 4. Since there is no work in process at year-end‚ all amounts in the Work-in-Process account must
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EXERCISE 18-1 (10-15 minutes) Add or deduct from accounting income (a) 2 deduct (b) 1 add (c) 3 add (d) 1 add (e) 2 deduct (f) 2 deduct (g) 1 add (h 3 deduct (i) 3 deduct (j) 1 add (k) 1 add (l) 1 add EXERCISE 18-3 (15-20 minutes) (a) Accounting income $105‚000 Permanent differences: Non-deductible fines 11‚000 116‚000 Timing differences: Excess of CCA over amortization (16‚000 ) Excess rent collected over rent earned 24‚000 Taxable income $124‚000
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Chapter 04 Analyzing Investing Activities Multiple Choice Questions 1. Which of the following would rarely be classified as a current asset? A. Prepaid insurance B. Goodwill C. Marketable Securities D. Work-in-progress 2. Which of the following would not be classified as a current asset? A. Inventory B. Accounts payable C. Accounts receivable D. Prepaid expenses 3. An asset is considered to be liquid if: A. it is readily converted into a current asset. B. it is
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iv. Analyzing Company Accounts v. Ratio Analysis II. MANAGEMENT ACCOUNTING 3 i. The Objectives of Management Accounting: ii. Scope of Management Accounting: iii. Functions of Management Accounting: iv. Advantages of Management Accounting: v. Limitations of Management Accounting: vi. Tools and Techniques: III. INTRODUCTION TO FINANCIAL RATIOS 8 i. Financial Ratio Analysis: ii. Users of Accounting Information: IV. DESCRIPTION AND DETAIL OF THE COMPANY – SRI LANKA
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Practice Exam Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) If the marginal benefit of pizza exceeds the marginal cost of pizza‚ then compared to the allocatively efficient quantity‚ we are producing too ________ pizza and too ________ of other goods. A) little; much B) little; little C) much; little 1) D) much; much Answer: A 2) ________ is the difference between the value
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Managerial Accounting‚ 3e (Braun/Tietz) Chapter 2 Building Blocks of Managerial Accounting 1) Service companies must carry a large amount of inventory to meet consumer demand. Answer: FALSE Diff: 1 LO: 2-1 EOC: E2-1 AACSB: Reflective Thinking Learning Outcome: Define and use cost-volume-profit analysis to analyze the effects of changes in costs and volume on a company’s profits 2) Manufacturing companies usually have three types of inventory. Answer: TRUE Diff: 1 LO: 2-1
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Q1. Show the effect of each of the seven listed transactions on the balance sheet items of Carpet Center Plus. Indicate the new balances after the transaction of May 2 and each subsequent transaction. The effects of the May 1 transaction are already filled in to provide you with an example. May | 1 | Issued capital stock for $75‚000. | | 2 | Purchased a small office building at a price of $58‚000 for the land and $65‚000 for the building. Paid $43‚000 cash and signed a note payable for the
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Charmaine Farrah Estacio Geography 1 Dr. Thomas Orf 11th November 2014 ASSIGNMENT: CHAPTER 15 PRELIMINARIES TO EROSION: WEATHERING AND MASS WASTING KEY TERMS AND CONCEPTS: 1. What is meant by denudation? The total effect of all actions (weathering‚ mass wasting‚ and erosion) that lower the surface of the continents. 2. Distinguish among weathering‚ mass wasting‚ and erosion. Weathering- The physical and chemical disintegration of rock that is exposed to the atmosphere. Mass Wasting- The short-distance
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