Essay on Acct 504 Week 8 Final Exam All 4 Sets - Latest Exam
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Question 1. 1. (TCOs A, B, and C) Which type of corporate information is not available to investors? (Points : 3)
Forecast of cash needs for the upcoming year
Cash provided by investing activities
Beginning cash balance
Question 2. 2. (TCO C) Debt securities sold to investors that must be repaid at a particular date some years in the future are called (Points : 3) accounts payable. notes receivable. taxes payable. …show more content…
-Land (held for future use): 150,000
-Corporate Office Building: 600,000
-Office Furniture: 100,000
-Accumulated Depreciation: 300,000
What is the total NET amount of property, plant, and equipment that will appear on the balance sheet? (Points : 3)
Question 9. 9. (TCO B) For 2010, Landford Corporation reported net income of $30,000; net sales $400,000; and average share outstanding 6,000. There were no preferred stock dividends. What was the 2010 earnings per share? (Points : 3)
Question 10. 10. (TCO B) At December 31, 2010, Shorts Company had retained earnings of $2,184,000. During 2010 they issued stock for $98,000, and paid dividends of $34,000. Net income for 2010 was $402,000. The retained earnings balance at the beginning of 2010 was: (Points : 3)
Question 11. 11. (TCO D) Money collected from customers before the work is done is treated as (Points : 3) prepaid expenses. accrued revenues. unearned revenues. accrued expenses.
Question 12. 12. (TCO D) An account is a part of the financial information system and is described by all except which one of the following? (Points : 3)
An account has a debit and credit side.
An account has to be in paper form.
An account has a zero or