CHAPTER 1 Accounting in Action ASSIGNMENT CLASSIFICATION TABLE Brief Exercises A Problems B Problems 5‚ 6‚ 7‚ 11 1A‚ 2A‚ 4A 1B‚ 2B‚ 4B 3 6‚ 7‚ 8‚ 10‚ 11 1A‚ 2A‚ 4A‚ 5A 1B‚ 2B‚ 4B‚ 5B 4 8‚ 9‚ 12‚ 13‚ 2A‚ 3A‚ 14‚ 15‚ 16‚ 17 4A‚ 5A 2B‚ 3B‚ 4B‚ 5B Learning Objectives Questions Do It! Exercises 1. Explain what accounting is. 1‚ 2‚ 5 1 1 2. Identify the users and uses of accounting. 3‚ 4 1 2 3. Understand why ethics is a fundamental business concept. 4. Explain accounting standards
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On July 1‚ 2010‚ Rossillon Company issued $4‚000‚000 face value‚ 8%‚ 10-year bonds at $3‚501‚514.This price resulted in an effective-interest rate of 10% on the bonds Rossill on uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest July 1 and January 1. Instructions (Round all computations to the nearest dollar.) (a) Prepare the journal entries to record the following transactions. (1) The issuance of the bonds on July 1‚ 2010. (2) The accrual
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Exercise 11-1 (10 minutes) 1. 2. 3. Exercise 11-2 (10 minutes) Average operating assets £2‚200‚000 Net operating income £400‚000 Minimum required return: 16% × £2‚200‚000 352‚000 Residual income £ 48‚000 Exercise 11-3 (20 minutes) 1. Throughput time = Process time + Inspection time + Move time + Queue time = 2.8 days + 0.5 days + 0.7 days + 4.0 days = 8.0 days 2. Only process time is value-added time; therefore the manufacturing cycle efficiency
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Approach ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. Inventory accounts; determining quantities‚ costs‚ and items to be included in inventory; the inventory equation; balance sheet disclosure. Perpetual vs. periodic. Recording of discounts. Inventory errors. Flow assumptions. 10‚ 11 7 12‚ 13‚ 16‚ 18‚ 20 4 5‚ 6‚ 7 Questions 1‚ 2‚ 3‚ 4‚ 5‚ 6‚ 8‚ 9 Brief Exercises 1‚ 3 Exercises 1‚ 2‚ 3‚ 4‚ 5‚ 6‚ 10 Problems 1‚ 2‚ 3 Concepts for Analysis 1‚ 2‚ 3‚ 5‚ 11 2. 3. 4. 5. 2 9‚ 13‚ 14‚ 17 7‚ 8
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Management QUANTITATIVE METHODS FOR FINANCE AND INVESTMENT (EFIMM005) Review Questions Question 1: Concepts a. Define a stochastic process. Give an example in Finance of a quantity that can be modelled as a stochastic process. b. Define a stationary stochastic process. c. Consider a stochastic process {Yt ‚ t = 1‚ ..‚ T }. Define the partial autocorrelation function (pacf) associated to this process. d. Explain the difference between estimator and estimate. e. Let {Ut ‚ t = 1‚ ..‚ T } be a mean zero
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AC 116 MIDTERM QUESTIONS AND ANSWERS Chapter 8 1. A necessary element of internal control is a. database b. systems design c. systems analysis d. information and communication ANS: D 2. An example of a preventive control is a. the use of a bank account b. separation of the Purchasing Department and Accounting Department personnel c. bonding employees who handle cash d. accepting payment in currency only ANS: B 3. Under the voucher system‚ every transaction is recorded
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techniques to problems in finance and accounting. Continuous data can take on any value and are not confined to take specific numbers. Discrete data can only take on certain values‚ which are usually integers Types of Data Dummy variable A dummy variable (also known as indicator variable or just dummy) is one that takes the values 0 or 1 to indicate the absence or presence of some categorical effect that may be expected to shift the outcome. 1 dummy variable for 2 categories 2 dummy
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E2-1‚ 2‚5‚7; P2-2A‚ 4A E2-1. The following are the major balance sheet classifications: Current assets (CA Long-term investments (LTI) Property‚ plant and equipment (PPE) Intangible assets (IA) Current liabilities (CL) Long-term liabilities (LTL) Stockholders’ equity (SE) Classify each of the following financial statement items taken from Mordica Corporation’s balance sheet. CL Accounts payable CA Accounts receivable PPE Accounts depreciation-equipment PPE Buildings CA Cash CL Interest
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ach01 Student: 1. 2. Taxes influence many types of business decisions but generally do not influence personal decisions. True False Taxes influence business decisions such as where a business should locate or how a business should be structured. True False Tax policy rarely plays an important part in presidential campaigns. True False Margaret recently received a parking ticket. This is a common example of a local tax. True False George recently paid $50 to renew his driver’s license. The
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X X X X X X X X X X X X X X X X X AP Statistics Solutions to Packet 5 X Producing Data Designing Samples Designing Experiments Simulating Experiments X X X X X X X X X X X X X HW #29 1 – 3‚ 5 - 7 5.1 FUNDING FOR DAY CARE A sociologist wants to know the opinions of employed adult women about government funding for day care. She obtains a list of the 520 members of a local business and professional women’s club and mails a questionnaire to 100 of these women selected at random. Only 48
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