Financial Accounting

1. True or false. Common size statements allow the comparison of two or more com

1. True or false. Common size statements allow the comparison of two or more companies with different amounts of net sales and net assets. 2. The formula to compute the rate of re…

1. True or false: A debit balance means that a variance is favorable since it de

1. True or false: A debit balance means that a variance is favorable since it decreases income (just like a expense). 2. True or false: If the actual number of units produced is l…

1. True or false: A physical count of inventory is performed annually in both a

1. True or false: A physical count of inventory is performed annually in both a perpetual inventory system and a periodic inventory system. 2. True or false: Sales discounts, sale…

1. Two Questions, please D uDuring 2012, Jasmine (age 12) received $2,400 from a

1.      Two Questions, please D uDuring 2012, Jasmine (age 12) received $2,400 from a corporate bond. She also received $600 from a savings account established for her by her pare…

1. Two investors are evaluating Apple\'s stock for possible purchase. They agree

1. Two investors are evaluating Apple's stock for possible purchase. They agree on the expected value of D1, and on the expected future dividend growth rate. Further, they agree o…

1. Two methods can be used to construct a statement of cash flows: the direct me

1. Two methods can be used to construct a statement of cash flows: the direct method & the indirect method. Under the indirect method, data from three financial statements are…

1. Two methods of accounting for uncollectible accounts are the a. direct write-

1. Two methods of accounting for uncollectible accounts are the a. direct write-off method and the allowance method b. allowance method and the accrual method c. allowance method …

1. Tyler Company issued common stock for proceeds of $44,000 during 2017. The co

1. Tyler Company issued common stock for proceeds of $44,000 during 2017. The company paid dividends of $10,000. The company also issued a long-term note payable for $120,000 in e…

1. Type 1 subsequent events involve events that existed ___ the balance sheet da

1. Type 1 subsequent events involve events that existed ___ the balance sheet date. (after, before, between, close to, near, on) 2. Type 1 subsequent events require ___ of the fin…

1. U^ng financial leverage results in a fixed charge that can materially affect

1. U^ng financial leverage results in a fixed charge that can materially affect earnings available to common shareholders a. b. increases risk to the firm as interest rates rise a…

1. UnEx Air Delivery uses a special shipping container that is different than th

1. UnEx Air Delivery uses a special shipping container that is different than the Ground Shipping boxes. 2.Each customer contract is reviewed on an annual basis and information is…

1. Under Circular 230, Lisa, a Tax Professional, may sign, as the preparer, a ta

1. Under Circular 230, Lisa, a Tax Professional, may sign, as the preparer, a tax return that: a.Reports a $12,000 loss from an investment with no documentation or written opinion…

1. Under Lennon Hospital’s rate structure, it earned patient service revenue of

1. Under Lennon Hospital’s rate structure, it earned patient service revenue of $8.2 million for the year ended December 31, 2017. However, Lennon did not expect to collect this e…

1. Under Lennon Hospital’s rate structure, it earned patient service revenue of

1. Under Lennon Hospital’s rate structure, it earned patient service revenue of $8.2 million for the year ended December 31, 2017. However, Lennon did not expect to collect this e…

1. Under cash-basis accounting, when is revenue recorded? When is it recorded un

1.         Under cash-basis accounting, when is revenue recorded? When is it recorded under accrual-basis accounting?             2.         Under accrual accounting, when is reve…

1. Under the allowance method of accounting for uncollectible accounts: (MULTIPL

1. Under the allowance method of accounting for uncollectible accounts: (MULTIPLE CHOICE) a) the cash realization value of accounts receivable is greater before an account is writ…

1. Under the periodic method, the year-end adjusting entry for inventory affects

1. Under the periodic method, the year-end adjusting entry for inventory affects: a. only the income statement. b. only the balance sheet. c. both the income statement and the bal…

1. Under the perpetual system (A) the account purchase returns and allowances is

1. Under the perpetual system (A) the account purchase returns and allowances is credited when goods are returned to vendors. (B) increases in inventory resulting from purchasing …

1. Under variable costing, fixed manufacturing overhead cost is treated as a pro

1. Under variable costing, fixed manufacturing overhead cost is treated as a product cost. A) True B) False 2. In responsibility accounting, each segment in an organization should…

1. Under which of the following circumstances could allocations (including trans

1. Under which of the following circumstances could allocations (including transfer prices) affect the firm's income? a. Regulatory agencies use reports on the affected segments b…

1. Unearned revenues refer to a(n): a. Asset that will be used over time. b. Exp

1. Unearned revenues refer to a(n): a. Asset that will be used over time. b. Expense incurred because a customer has paid in advance. c. Liability that is settled in the future wh…

1. Unemployment rate Assume a country has a population of 40 million people of w

1. Unemployment rate Assume a country has a population of 40 million people of which 2 million are unable to work, 1 million want to work but have given up looking for a job, 30 m…

1. Unemployment taxes (FUTA and SUTA) do not have to be paid by an employer who

1. Unemployment taxes (FUTA and SUTA) do not have to be paid by an employer who has only part-time employees. _____2. The Social Security Act ordered every state to set up an unem…

1. Units of production data for the two departments of Continental Cable and Wir

1. Units of production data for the two departments of Continental Cable and Wire Company for November of the current fiscal year are as follows: Drawing Department 4,700 units, 2…

1. Units to be produced annually: 200,000 tins Direct labor: 1 hour per 100 tins

1. Units to be produced annually: 200,000 tins Direct labor: 1 hour per 100 tins Variable overhead costs per direct labor hour: Indirect materials $2.05 Indirect labor $1.20 Plant…

1. Upon reviewing the bank reconciliation, you realized that the general ledger

1. Upon reviewing the bank reconciliation, you realized that the general ledger had not been adjusted for $200 worth of NSF checks received for cash sales. The amounts of the indi…

1. Upscale Dishwear manufactures two products, salad plates and platters, from a

1. Upscale Dishwear manufactures two products, salad plates and platters, from a joint process. Salad plates are allocated $7,500 of the total joint costs of $25,000. There are 3,…

1. Uptown Inc, entered into an arrangement on January 1, 2017 to lease a machine

1. Uptown Inc, entered into an arrangement on January 1, 2017 to lease a machine for four years with lease payments of $85,000 each year with the first payment due immediately and…

1. Use of residual income to evaluate the performance of divisions may lead to a

1. Use of residual income to evaluate the performance of divisions may lead to a reduction in suboptimizing behavior by managers, compared to the use of return on investment to ev…

1. Use the Condensed Balance Sheet below for Questions 1 and 2. When preparing a

1. Use the Condensed Balance Sheet below for Questions 1 and 2. When preparing a horizontal analysis, what would the percentage of change be for total assets? a.9.6% b 4.8% c 39.9…

1. Use the above information to compute profit margins for each separate company

1. Use the above information to compute profit margins for each separate company a through e. (Round your answers to one decimal place.) 2. Which of the five companies is the most…

1. Use the below information to answer the following question. Income Statement

1. Use the below information to answer the following question. Income Statement Balance Sheet Forthe Year Beginning of Year End of Year Net sales COGS Depreciation 827,500.00 Cash…

1. Use the financial data shown below to calculate the following ratios for the

1. Use the financial data shown below to calculate the following ratios for the current year: (a) Current ratio. (b) Acid-test ratio. (c) Accounts receivable turnover. (d) Days' s…

1. Use the following data for MSP Company to prepare a production budget for the

1.      Use the following data for MSP Company to prepare a production budget for the fourth quarter of 2012. October November December Quarter Budgeted unit sales 2,000 2,200 2,4…

1. Use the following information for the Quick Study below. [The following infor

1. Use the following information for the Quick Study below. [The following information applies to the questions displayed below.] The following refers to units processed by an ice…

1. Use the following information to complete the below Basic Information Company

1. Use the following information to complete the below Basic Information Company Name Current Year Year Operations Began Pre-tax financial income Tax Rate 2018 Tax Rate Future Yea…

1. Use the following information, to prepare Aboni\'s 2016 financial statements

1. Use the following information, to prepare Aboni's 2016 financial statements ending October 31, 2016. (37 MARKS) 800 CL Accounts payable CA Accounts receivables C | Accrued expe…

1. Use the information below to answer the following questions. The following un

1. Use the information below to answer the following questions. The following units of an inventory item were available for sale during the year: Beginning inventory 10 units at $…

1. Use the table below to answer the following questions: 2000 2010 Debt GDP Deb

1. Use the table below to answer the following questions: 2000 2010 Debt GDP Debt GDP Greece $        138 $        127 $        455 $           308 Ireland $          34 $        …

1. Use the tables to answer a through e. Standard Cost Profile Lab Treatment SU

1. Use the tables to answer a through e. Standard Cost Profile Lab Treatment SU #12 Expected Treatments = 1,000 Resource Quantity Variable Quantity Fixed Unit Cost Variable Cost A…

1. Use this contribution income statement to complete the following questions: $

1. Use this contribution income statement to complete the following questions: $1,200,000 Sales (100,000 units) Variable costs Cost of goods sold Selling and administrative $420,0…

1. Using Apple’s actual 9/30/17 balance sheet to answer this question, which of

1. Using Apple’s actual 9/30/17 balance sheet to answer this question, which of the following best represents Apple’s Accounting Equation? a. $375,319,000,000 = $241,272,000,000 +…

1. Using BB\'s single-driver system to allocate its operating costs, how much wa

1. Using BB's single-driver system to allocate its operating costs, how much was allocated to CD's in 2017? 2. If BB had used an activity-based costing system to allocate its oper…

1. Using NRU’s current product costing system. a. Determine the company’s predet

1. Using NRU’s current product costing system. a. Determine the company’s predetermined overhead rate using direct labor cost as the single cost drive b.Determine the full product…

1. Using Walt Disney Inc. Annual Report income statement, prepare a horizontal a

1. Using Walt Disney Inc. Annual Report income statement, prepare a horizontal and vertical analysis on years 2017 and 2016. 2. Perform the following ratios, Current, Debt, Return…

1. Using exhibit 7-12 as a guide, compute the product margin for the EX300 and t

1. Using exhibit 7-12 as a guide, compute the product margin for the EX300 and the TX500 under the company's traditional costing system. 2. Using exhibit 7-10 as a guide, compute …

1. Using the Discounted Cash Flow template found in our Blackboard Classroom, or

1. Using the Discounted Cash Flow template found in our Blackboard Classroom, or any other method you would like, calculate the internal rate of return for a project that has thes…

1. Using the Discounted Cash Flow template found in our Blackboard Classroom, or

1. Using the Discounted Cash Flow template found in our Blackboard Classroom, or any other method you would like, calculate the internal rate of return for a project that has thes…

1. Using the annual profit formula Y =b(x) - a, the b represents: Select one: a.

1. Using the annual profit formula Y =b(x) - a, the b represents: Select one: a. Annual before-tax profit b. Annual fixed costs c. Contribution margin per unit d. Variable costs p…

1. Using the code letters below, indicate in the space provided how each of the

1. Using the code letters below, indicate in the space provided how each of the following costs should be classified in the indicated pen manufacturing company Code Letters DM -Di…