Today, I
opened my window and thought: 34 = 3*3*3*3=81. So,
H2O is water.
Then, I understood that I was still trying to do my hw.
HATE HW AND SCHOOL!!!!
Then, I understood that I was still trying to do my hw.
HATE HW AND SCHOOL!!!!
C-O-M-P-U-T-E-R
C is for chair
O is for online
M is for making new friends
P is for playing games
U is for username
T is for typing
E is for eating popcorn when watching a movie
R is for rating
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
C-L-A-S-S
C is for coming in
L is for lying on the desk
A is for a stupid person comes in
S is for sitting on chairs
S is for sleeping
~~~~~~~~~~~~~~~~~~~~~~~~~~~
H-O-M-E-W-O-R-K
H is for hate
O is for omg, how boring!
M is for Maths
E is for English
W is for writing
O is for oh, I need a break
R is for reading
K is for kk, I'm finished!
~~~~~~~~~~~~~~~~~~~~~~~~
Note: I know that they are not very funny, but I just tried. It's difficult, trust me.
C is for chair
O is for online
M is for making new friends
P is for playing games
U is for username
T is for typing
E is for eating popcorn when watching a movie
R is for rating
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
C-L-A-S-S
C is for coming in
L is for lying on the desk
A is for a stupid person comes in
S is for sitting on chairs
S is for sleeping
~~~~~~~~~~~~~~~~~~~~~~~~~~~
H-O-M-E-W-O-R-K
H is for hate
O is for omg, how boring!
M is for Maths
E is for English
W is for writing
O is for oh, I need a break
R is for reading
K is for kk, I'm finished!
~~~~~~~~~~~~~~~~~~~~~~~~
Note: I know that they are not very funny, but I just tried. It's difficult, trust me.
ACCT 504 Final Exam Solutions 100% Correct
Answers
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(Product Description)
(TCO A) Which one of the following is an advantage of corporations relative to partnerships and sole proprietorships? (Points : 5)
Reduced legal liability for investors
Harder to transfer ownership
Lower taxes
Most common form of organization
(TCO A) When a corporation distributes a dividend, _____. (Points : 5)
the most common form of distribution is a cash dividend
the Dividends account will be increased with a credit
the Retained Earnings account will be directly increased with a debit
the Dividends account will be decreased with a debit
(TCOs A, B) Below is a partial list of account balances for Cerner Company:
Cash $5,000
Prepaid insurance 500
Accounts receivable 2,500
Accounts payable 2,000
Notes payable 3,000
Common stock 1,000
Dividends 500
Revenues 15,000
Expenses 12,500
Under the accrual basis of accounting, revenues are recorded and reported _____.
when companies receive payments for jobs performed or products provided
when companies have provided products or performed services
when companies receive payments prior to providing products or performing services
when companies receive payments after providing products or performing services
In a period of increasing prices, which inventory cost flow assumption will result in the highest amount of net income?
LIFO
The average cost method
FIFO
Payne Corporation issues 100 twenty-year, 6%, $1,000 bonds dated July 1, 2010, at 94. The journal entry to record the issuance will show a _____.
debit to Cash of $100,000
credit to Bonds Payable of $94,000
credit to Premium on Bonds Payable of $4,000
debit to Discount on Bonds Payable of $6,000
What did Cerner Company show as total credits? (Points : 5)
$21,500
$21,000
$20,500
$22,000
(TCOs B, E) Using accrual accounting, expenses are recorded and reported only _____. (Points : 5)
when they are incurred, whether or not cash is paid
when they are incurred and paid at the same time
if they are paid before they are incurred
if they are paid after they are incurred
(TCO D) Three companies report the same cost of goods available for sale, but each employs a different inventory costing method. If the price of goods has increased during the period, then the company using _____. (Points : 5)
LIFO will have the highest ending inventory
FIFO will have the highest cost of goods sold
All three companies will have the same value for ending inventory.
average cost will have an ending inventory value that falls between FIFO and LIFO
(TCOs A, E) Equipment with a cost of $192,000 has an estimated salvage value of $18,000 and an estimated life of 4 years or 12,000 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,300 hours? (Points : 5)
$48,000
$52,500
$49,500
$43,500
(TCOs D, G) Joyce Corporation issues 1,000 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 102. The journal entry to record the issuance will show a _____. (Points : 5)
debit to Cash of $1,020,000
debit to Discount on Bonds Payable for $20,000
credit to Bonds Payable for $1,020,000
credit to Cash for $1,000,000
(TCO C) Accounts receivable arising from sales to customers amounted to $80,000 and $70,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $240,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is _____. (Points : 5)
$240,000
$250,000
$310,000
$230,000
(TCO F) One variation of the horizontal analysis is known as _____. (Points : 5)
nonlinear analysis
vertical analysis
trend analysis
common-size analysis
(TCO F) Comparisons of data within a company are an example of the following comparative basis. (Points : 5)
Industry averages
Intercompany
Intracompany
Interregional
(TCO F) Which one of the following is not a characteristic generally evaluated in ratio analysis? (Points : 5)
Liquidity
Profitability
Marketability of the product
Solvency
(TCO F) Short-term creditors are usually most interested in assessing _____. (Points : 5)
solvency
liquidity
marketability
profitability
(TCO F) Long-term creditors are usually most interested in evaluating _____. (Points : 5)
liquidity
marketability
profitability
solvency
(TCO G) To calculate the market value of a bond, we need to _____. (Points : 5)
find out the present value of all of the future cash payments promised by the bond
calculate the present value of the principal only
calculate the present value of the interest only
multiply the bond price by the interest rate
(TCO A) Below you will find selected information (in millions) from Coca-Cola Co.’s 2012 Annual Report:
…………………………………………………………………………………………………………………………………………………….
Required:
1. Using the information provided prepare a Balance Sheet. Separate the current assets from non-current assets and provide a total for each. Also separate the current liabilities from the non-current liabilities and provide a total for each.
2. Using the Balance Sheet from your answer above calculate; Current Ratio, Days in Inventory, Average Collection Period, Return on Assets Ratio, Debt to Total Assets and Return on common stockholders’ equity ratio. (Make sure to show all your work)
(TCO B) The following selected data was retrieved from the Wal-Mart, Inc. financial statements for the year ending January 31, 2013:
………………………………………………………………………………………………………………………………………………………………………………………………
Required:
Using the information provided above:
1. Prepare a multiple-step income statement
2. Calculate the Profit Margin, and Gross profit rate for the company. Be sure to provide the formula you are using, show your calculations, and discuss your findings/results.
(TCO C) Please review the following real-world Hewlett Packard Statement of Cash flows and address the 2 questions below:
……………………………………………………………………………………………………………………………………………………………………………………….
Required:
1) Please calculate the percentage increase or decrease in cash for the operating, investing, and financing sections and explain the major reasons for the increase or decrease for each of these sections.
2) Please calculate the free cash flow for 2012 and explain the meaning of this ratio.
4. (TCO D) You are CFO of Goforit, Inc., a wholesale distribution company specializing in emerging technologies. Your CEO is a brilliant marketer, but relies on you to explain issues and choices in accounting and finance. She has heard from other members of a CEO organization to which she belongs that a company’s net income can vary widely depending on which accounting choices are made from the “GAAP menu.”
Assuming the goal is to maximize net income, choose an accounting treatment from each of the following scenarios, and explain to your CEO why the choice will produce the desired effect on reported Net Income for the current year. Include in your answer the effect of the choice on both the income statement and balance sheet.
Required:
a. Goforit carries significant electronics inventory in a competitive environment where prices are actually falling. Which inventory valuation method would you choose—LIFO, FIFO, or average cost? Assume that unit purchases exceed unit sales.
b. Goforit has a large investment in warehouse equipment including conveyor belts, forklifts, and automated packaging systems. Which depreciation method would you choose: Straight line (SL) or double declining balance (DDB)?
(TCO F) Please review the following real-world ratios for Johnson & Johnson and Pfizer for the year ended 2012 and address the 2 questions below.
…………………………………………………………………………………………………………………………………………………………………………………………
Required:
1) Please explain the meaning of each of the Pfizer ratios above.
2) Please state which company performed better for each ratio.
To Download This Tutorial Visit below Link
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(Product Type) :
Instant Downloadable
We invite you to browse through our store and shop with confidence. We invite you to create an account with us if you like, or shop as a guest. Either way, your shopping cart will be active until you leave the store.
All Tutorials will be E-mailed immediately after the Payment, Please Check your inbox or Spam Folder and can also be downloaded by clicking on Tutorial Bucket.
For Any Other Inquiry Feel Free to Contact us: studentsoffortunes@gmail.com
For More Tutorials Visit: ( http://www.studentsoffortunes.com/ )
(Product Description)
(TCO A) Which one of the following is an advantage of corporations relative to partnerships and sole proprietorships? (Points : 5)
Reduced legal liability for investors
Harder to transfer ownership
Lower taxes
Most common form of organization
(TCO A) When a corporation distributes a dividend, _____. (Points : 5)
the most common form of distribution is a cash dividend
the Dividends account will be increased with a credit
the Retained Earnings account will be directly increased with a debit
the Dividends account will be decreased with a debit
(TCOs A, B) Below is a partial list of account balances for Cerner Company:
Cash $5,000
Prepaid insurance 500
Accounts receivable 2,500
Accounts payable 2,000
Notes payable 3,000
Common stock 1,000
Dividends 500
Revenues 15,000
Expenses 12,500
Under the accrual basis of accounting, revenues are recorded and reported _____.
when companies receive payments for jobs performed or products provided
when companies have provided products or performed services
when companies receive payments prior to providing products or performing services
when companies receive payments after providing products or performing services
In a period of increasing prices, which inventory cost flow assumption will result in the highest amount of net income?
LIFO
The average cost method
FIFO
Payne Corporation issues 100 twenty-year, 6%, $1,000 bonds dated July 1, 2010, at 94. The journal entry to record the issuance will show a _____.
debit to Cash of $100,000
credit to Bonds Payable of $94,000
credit to Premium on Bonds Payable of $4,000
debit to Discount on Bonds Payable of $6,000
What did Cerner Company show as total credits? (Points : 5)
$21,500
$21,000
$20,500
$22,000
(TCOs B, E) Using accrual accounting, expenses are recorded and reported only _____. (Points : 5)
when they are incurred, whether or not cash is paid
when they are incurred and paid at the same time
if they are paid before they are incurred
if they are paid after they are incurred
(TCO D) Three companies report the same cost of goods available for sale, but each employs a different inventory costing method. If the price of goods has increased during the period, then the company using _____. (Points : 5)
LIFO will have the highest ending inventory
FIFO will have the highest cost of goods sold
All three companies will have the same value for ending inventory.
average cost will have an ending inventory value that falls between FIFO and LIFO
(TCOs A, E) Equipment with a cost of $192,000 has an estimated salvage value of $18,000 and an estimated life of 4 years or 12,000 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,300 hours? (Points : 5)
$48,000
$52,500
$49,500
$43,500
(TCOs D, G) Joyce Corporation issues 1,000 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 102. The journal entry to record the issuance will show a _____. (Points : 5)
debit to Cash of $1,020,000
debit to Discount on Bonds Payable for $20,000
credit to Bonds Payable for $1,020,000
credit to Cash for $1,000,000
(TCO C) Accounts receivable arising from sales to customers amounted to $80,000 and $70,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $240,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is _____. (Points : 5)
$240,000
$250,000
$310,000
$230,000
(TCO F) One variation of the horizontal analysis is known as _____. (Points : 5)
nonlinear analysis
vertical analysis
trend analysis
common-size analysis
(TCO F) Comparisons of data within a company are an example of the following comparative basis. (Points : 5)
Industry averages
Intercompany
Intracompany
Interregional
(TCO F) Which one of the following is not a characteristic generally evaluated in ratio analysis? (Points : 5)
Liquidity
Profitability
Marketability of the product
Solvency
(TCO F) Short-term creditors are usually most interested in assessing _____. (Points : 5)
solvency
liquidity
marketability
profitability
(TCO F) Long-term creditors are usually most interested in evaluating _____. (Points : 5)
liquidity
marketability
profitability
solvency
(TCO G) To calculate the market value of a bond, we need to _____. (Points : 5)
find out the present value of all of the future cash payments promised by the bond
calculate the present value of the principal only
calculate the present value of the interest only
multiply the bond price by the interest rate
(TCO A) Below you will find selected information (in millions) from Coca-Cola Co.’s 2012 Annual Report:
…………………………………………………………………………………………………………………………………………………….
Required:
1. Using the information provided prepare a Balance Sheet. Separate the current assets from non-current assets and provide a total for each. Also separate the current liabilities from the non-current liabilities and provide a total for each.
2. Using the Balance Sheet from your answer above calculate; Current Ratio, Days in Inventory, Average Collection Period, Return on Assets Ratio, Debt to Total Assets and Return on common stockholders’ equity ratio. (Make sure to show all your work)
(TCO B) The following selected data was retrieved from the Wal-Mart, Inc. financial statements for the year ending January 31, 2013:
………………………………………………………………………………………………………………………………………………………………………………………………
Required:
Using the information provided above:
1. Prepare a multiple-step income statement
2. Calculate the Profit Margin, and Gross profit rate for the company. Be sure to provide the formula you are using, show your calculations, and discuss your findings/results.
(TCO C) Please review the following real-world Hewlett Packard Statement of Cash flows and address the 2 questions below:
……………………………………………………………………………………………………………………………………………………………………………………….
Required:
1) Please calculate the percentage increase or decrease in cash for the operating, investing, and financing sections and explain the major reasons for the increase or decrease for each of these sections.
2) Please calculate the free cash flow for 2012 and explain the meaning of this ratio.
4. (TCO D) You are CFO of Goforit, Inc., a wholesale distribution company specializing in emerging technologies. Your CEO is a brilliant marketer, but relies on you to explain issues and choices in accounting and finance. She has heard from other members of a CEO organization to which she belongs that a company’s net income can vary widely depending on which accounting choices are made from the “GAAP menu.”
Assuming the goal is to maximize net income, choose an accounting treatment from each of the following scenarios, and explain to your CEO why the choice will produce the desired effect on reported Net Income for the current year. Include in your answer the effect of the choice on both the income statement and balance sheet.
Required:
a. Goforit carries significant electronics inventory in a competitive environment where prices are actually falling. Which inventory valuation method would you choose—LIFO, FIFO, or average cost? Assume that unit purchases exceed unit sales.
b. Goforit has a large investment in warehouse equipment including conveyor belts, forklifts, and automated packaging systems. Which depreciation method would you choose: Straight line (SL) or double declining balance (DDB)?
(TCO F) Please review the following real-world ratios for Johnson & Johnson and Pfizer for the year ended 2012 and address the 2 questions below.
…………………………………………………………………………………………………………………………………………………………………………………………
Required:
1) Please explain the meaning of each of the Pfizer ratios above.
2) Please state which company performed better for each ratio.
ACCT 567 Final Exam Solutions 100% Correct
Answers
1. (TCO A) On what should the government-wide financial statements report?
2. (TCO B) According to GASB standards, when should transfers be recognized?
3. (TCO C) Comparisons of budgeted versus actual revenues and expenditures are a requirement of which of the following situations?
4. (TCO D) The revenues account of a government entity is debited when
5. (TCO E) During the year, a wealthy local businessman donated a building to city of Perris. The original cost of the building was $340,000. Accumulated depreciation at the date of the gift amounted to $220,000. The appraised fair market value of the donation at the date of the gift was $525,000 of which $35,000 was the value of the land on which the building was situated. At what amount should the city record this donated property in the governmental activities accounts at the government-wide level?
http://homeworklance.com/downloads/acct-567-final-exam-solutions-100-correct-answers/
1. (TCO A) On what should the government-wide financial statements report?
2. (TCO B) According to GASB standards, when should transfers be recognized?
3. (TCO C) Comparisons of budgeted versus actual revenues and expenditures are a requirement of which of the following situations?
4. (TCO D) The revenues account of a government entity is debited when
5. (TCO E) During the year, a wealthy local businessman donated a building to city of Perris. The original cost of the building was $340,000. Accumulated depreciation at the date of the gift amounted to $220,000. The appraised fair market value of the donation at the date of the gift was $525,000 of which $35,000 was the value of the land on which the building was situated. At what amount should the city record this donated property in the governmental activities accounts at the government-wide level?
http://homeworklance.com/downloads/acct-567-final-exam-solutions-100-correct-answers/
ACCT 550 Midterm Exam 100% Correct Answers ACCT 550 Midterm Exam
100% Correct Answers (TCO A) The quality of information that gives
assurance that is reasonably free of error and bias and is complete
is TCO A) Issuance of common stock for cash affects which basic
element of financial statements? (TCO B) Retained earnings at
1/1/1X was $150,000 and at 12/31/1X it was $200,000. During 2010,
cash dividends of $50,000 were paid and a stock dividend of $30,000
was issued. Both dividends were properly charged to retained
earnings. You are to provide the missing closing entry. Please
indicate DR (debit) or CR (credit) to the left of the account
title, and place a comma between the account title and the amount
of the adjustment.
http://homeworklance.com/downloads/acct-550-midterm-exam-100-correct-answers/
teacher: where
is your homework?
student: ohhh written in the starss!
teacher: where is it?
student: a million miles away
teacher:*sigh*what did you write about?
student: message to the main, ohhhh
teacher: do you want to go to summer school?
student: seasons come and go!
teacher: change your attitude!
student: but i will never change.
teacher: go to the headteacher's office!
student: i'm on my wayyyyyyyyyy!
student: ohhh written in the starss!
teacher: where is it?
student: a million miles away
teacher:*sigh*what did you write about?
student: message to the main, ohhhh
teacher: do you want to go to summer school?
student: seasons come and go!
teacher: change your attitude!
student: but i will never change.
teacher: go to the headteacher's office!
student: i'm on my wayyyyyyyyyy!
teacher: wait...isn't that a song?...
stu dent: (take s off earplugs)
WHAT?!
OMG so yesterday my little brother had music homework and he had
to write about a band and so I offered to do the homework for him
and I wrote a whole essay about 5 seconds of summer, it was so
cool cause I wanted to write so much more but he didn't
let me! anyway I have never been this excited to do homework
ever, hahaha:p I probabaly sound like a weirdo but I dont care!
so today i was suppose to hang out with
my
bf until like 4 or a little bit after
but I can't because I have beed doing hw all day
and my dad took my phone so I can't get ahold of him
I just feel really bad. My dad said I had to do homework today
but since there is no time now, I hope you have a great time with Ian tonight
and its totally fine if you don't text me,
you don't see him that often and you see me a lot
so its fine if you don't text me we have all break yet.
Ik you guys are going to have a great time.
I'm again sorry for not responding to any of you're texts that you sent me
hope you're not mad at me
and I love You
bf until like 4 or a little bit after
but I can't because I have beed doing hw all day
and my dad took my phone so I can't get ahold of him
I just feel really bad. My dad said I had to do homework today
but since there is no time now, I hope you have a great time with Ian tonight
and its totally fine if you don't text me,
you don't see him that often and you see me a lot
so its fine if you don't text me we have all break yet.
Ik you guys are going to have a great time.
I'm again sorry for not responding to any of you're texts that you sent me
hope you're not mad at me
and I love You
Me starting homework
3:00- I'll start homework after a bite to eat
3:30- Just one more sandwich
3:40- I should suprise my sister with brownies
3:40-4:30- * Baking Brownies*
4:40- Eating Brownies
4:50- Helping sister with homework
5:00- On witty
5:30- Shower
6:00- Dinner
6:30- Watching Netflix
8:00- OMG! I HAVE 2 TESTS AND A ESSAY DUE TOMARROW!!!😮
8:05 Finding backpack
8:10- More Witty
9:00-10:30- Starts homework with 5 minute breakes every other math problem
*Next Day*
I spent like 5 hours doing homework! I am so tired !
3:00- I'll start homework after a bite to eat
3:30- Just one more sandwich
3:40- I should suprise my sister with brownies
3:40-4:30- * Baking Brownies*
4:40- Eating Brownies
4:50- Helping sister with homework
5:00- On witty
5:30- Shower
6:00- Dinner
6:30- Watching Netflix
8:00- OMG! I HAVE 2 TESTS AND A ESSAY DUE TOMARROW!!!😮
8:05 Finding backpack
8:10- More Witty
9:00-10:30- Starts homework with 5 minute breakes every other math problem
*Next Day*
I spent like 5 hours doing homework! I am so tired !
