ACCT 301 Final Exam  1. (TCO 1) What is the accounting equation? Suppose your company sold $12,000 in merchandise to a customer for cash. How does this transaction impact the accounting equation?  2. (TCO 2) What are the four basic financial statements? Describe the balance sheet, and explain why it is important  3. What is the Sarbanes-Oxley Act? Do you think this act has more importance for the accounting profession or for investors? Why  4. What is horizontal analysis of financial…

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ACCT 301 Midterm Exam 1  1. (TCO 1) Suppose your company sold $25,000 in merchandise to a customer for cash. How does this transaction impact the accounting equation?  2. (TCO 2) Suppose your company sold $50,000 in merchandise to a customer for cash. How does this transaction impact the accounting equation?  3. (TCO 3) Rationalization is one of the components of the fraud triangle. What types of rationalization could a person use to justify misconduct? How can a company protect itself from…

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ACCT 301 Midterm Exam 3  1. (TCO 5) A company has total fixed costs of $210,000 and a contribution margin ratio of 30%. How much sales are necessary to break even?  2. (TCO 5) How much sales are required to earn a target income of $70,000, if total fixed costs are $100,000 and the contribution margin ratio is 40%?  3. (TCO 6) For which one of the following budgeting aspects does the budget committee generally have the responsibility?  4. (TCO 6) Under what situation might a budget be most…

ACCT 301 Midterm Exam 3 1. (TCO 5) A company has total fixed costs of $210,000 and a contribution margin ratio of 30%. How much sales are necessary to break even? 2. (TCO 5) How much sales are required to earn a target income of $70,000, if total fixed costs are $100,000 and the contribution margin ratio is 40%? 3. (TCO 6) For which one of the following budgeting aspects does the budget committee generally have the responsibility? 4. (TCO 6) Under what situation might a budget be most…

ACCT 301 Midterm Exam 2  1. (TCO 1) The retained earnings statement shows all of the following except which one?  2. (TCO 1) Management’s views on the company’s short-term debt paying ability, expansion financing, and results of operations are found in which of the following?  3. (TCO 4) For 2010, Fielder 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?  4. (TCO…

ACCT 301 Midterm Exam 2 1. (TCO 1) The retained earnings statement shows all of the following except which one? 2. (TCO 1) Management’s views on the company’s short-term debt paying ability, expansion financing, and results of operations are found in which of the following? 3. (TCO 4) For 2010, Fielder 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? 4. (TCO…

ACCT 301 Midterm Exam 1  1. (TCO 1) Suppose your company sold $25,000 in merchandise to a customer for cash. How does this transaction impact the accounting equation?  2. (TCO 2) Suppose your company sold $50,000 in merchandise to a customer for cash. How does this transaction impact the accounting equation?  3. (TCO 3) Rationalization is one of the components of the fraud triangle. What types of rationalization could a person use to justify misconduct? How can a company protect itself from…

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ACCT 301 Week 6 Quiz  1. (TCO 9) Which one of the following stages of the management decision-making process is properly sequenced?  2. (TCO 9) When is incremental analysis most useful?  3. (TCO 9) Which of the following will never be a relevant cost?  4. (TCO 9) A company is deciding whether or not to replace some old equipment with new equipment. Which of the following is not considered in the incremental analysis?  5. (TCO 9) It costs Lannon Fields $14 of variable costs and $6 of…

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ACCT 301 Week 2 Quiz  1. (TCO 1) Which of the following would not be considered an external user of accounting data for XYZ Company?  2. (TCO 1) The cost of assets consumed or services used is also known as _________.  3. (TCO 1) The financial statement that summarizes the changes in retained earnings for a specific period of time is the _________.  4. (TCO 1) Pinson Company began the year with retained earnings of $210,000. During the year, the company recorded revenues of $300,000…

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ACCT 301 Week 1 to 7 Homework  Week 1 Homework Chapter 1 (E1-3) Chapter 2 (P2-4A)  Week 2 Homework (04 Essay Questions)  Week 3 Homework Chapter 5 (E5-16, P5-1A, BYP5-6) Chapter 6 (E6-4, P6-2A, BYP6-3)  Week 4 Homework Chapter 7 (E7-13, P7-1A, BYP7-2 Chapter (E8-3, P8-1A, BYP8-6)  Week 5 Homework Chapter 9 (E9-6, E9-11, P9-1A, P9-1A, BYP9-5, BYP9-6)  Week 6 Homework Chapter 10 (E10-5, E10-8, P10-1A, P10-3A, BYP10-3, BYP10-6)  Week 7 Homework Chapter 11 (E11-1, E11-11, P11-1a, P11-3a…

ACCT 301 Week 1 to 7 Homework Week 1 Homework Chapter 1 Chapter 2 Week 2 Homework Essay Questions) Week 3 Homework Chapter 5 Chapter 6 Week 4 Homework Chapter 7 Chapter Week 5 Homework Chapter 9 Week 6 Homework Chapter 10 Week 7 Homework Chapter 11

ACCT 301 Essentials in Accounting  Week 2 Discussion Question, Internal Controls  Week 3 Discussion Question, Financial Statement Analysis  Week 4 Discussion Question, Managerial Accounting  Week 5 Discussion Question, Budgets and Productivity  Week 6 Discussion Question, Pricing  Week 7 Discussion Question, Looking Ahead

ACCT 301 Essentials in Accounting Week 2 Discussion Question, Internal Controls Week 3 Discussion Question, Financial Statement Analysis Week 4 Discussion Question, Managerial Accounting Week 5 Discussion Question, Budgets and Productivity Week 6 Discussion Question, Pricing Week 7 Discussion Question, Looking Ahead

ACCT 301 Samplke Quiz and Midterm Exam  Week 2 Quiz (15 Questions and Answers)  Week 6 Quiz (15 Questions and Answers)  Week 4 Midterm Exam 1  Week 4 Midterm Exam 2  Week 4 Midterm Exam 3

ACCT 301 Samplke Quiz and Midterm Exam Week 2 Quiz Questions and Answers) Week 6 Quiz Questions and Answers) Week 4 Midterm Exam 1 Week 4 Midterm Exam 2 Week 4 Midterm Exam 3

ACCT 301 Essentials in Accounting Week 1  Homework Chapter 1 (E1-3) Chapter 2 (P2-4A)  Week 2  Homework (04 Essay Questions)  Discussion Question, Internal Controls  Quiz (15 Multiple Choice)  Week 3  Homework Chapter 5 (E5-16, P5-1A, BYP5-6) Chapter 6 (E6-4, P6-2A, BYP6-3)  Discussion Question, Financial Statement Analysis  Week 4  Homework Chapter 7 (E7-13, P7-1A, BYP7-2 Chapter (E8-3, P8-1A, BYP8-6)  Discussion Question, Managerial Accounting  Midterm Exam 1  Midterm Exam 2  Midterm Exam…

ACCT 301 Essentials in Accounting Week 1 Homework Chapter 1 (E1-3) Chapter 2 (P2-4A) Week 2 Homework (04 Essay Questions) Discussion Question, Internal Controls Quiz (15 Multiple Choice) Week 3 Homework Chapter 5 (E5-16, P5-1A, BYP5-6) Chapter 6 (E6-4, P6-2A, BYP6-3) Discussion Question, Financial Statement Analysis Week 4 Homework Chapter 7 (E7-13, P7-1A, BYP7-2 Chapter (E8-3, P8-1A, BYP8-6) Discussion Question, Managerial Accounting Midterm Exam 1 Midterm Exam 2 Midterm Exam…

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