ACC 422 Week 5 Final Exam http://www.homeworkarena.com/acc-422-final-exam-perfect-solution 1) Which of the following is NOT considered cash for financial reporting purposes? A. Postdated checks and I.O.U.’s B. Money orders, certified checks, and personal checks C. Petty cash funds and change funds D. Coin, currency, and available funds 2) What is the preferable presentation of accounts receivable from officers, employees, or affiliated companies on a balance sheet? A. As assets but separately from other receivables.
Calculate the PAYG instalment income and the instalment due to the ATO. Complete the BAS Summary boxes below. Using a general journal format, explain how the payment transaction would be recorded in the accounting system. Supplies you have made Total sales & income & other supplies including capital (GST inclusive) G1 Exports Other GST-free supplies Input taxed sales & income & other supplies ADD G2 + G3 + G4 G1 minus G5 G6 Adjustments (must be total transaction value, i.e. GST inclusive) ADD G6 + G7 Divide G8 by eleven G9 66 191 728 100 G2 G3 Acquisitions you have made Capital acquisitions (GST inclusive) All other acquisitions (GST inclusive) ADD G10 + G11 Acquisitions for making input taxed sales & income & other supplies Acquisitions with no GST in the price Total estimated private use of acquisitions + non-income tax deductible acquisitions ADD G13 + G14 + G15 G7 G8 0 728 100 G12 minus G16 Adjustments (must be total transaction value, i.e.
• ignore cash payouts to stockholders. • ignore the size, risk, and timing of cash flows. 5. The maximum rate at which a firm can grow while maintaining a constant debt-equity ratio is bestdefined by its: • rate of return on assets. • internal rate of growth.
Note also that the interest rate we must use is a simple discount rate. The data can be displayed on a time line. | | | | | $800,000 | | | | 0 | 39 | 123 | | $P | | | | | P | = | Price | = | unknown | | S | = | Face value | = | $800,000 | | d | = | Simple discount rate (decimal) | = | 4.7 | 100 | | = | 0.047 | | t | = | Time period (years) | = | 84 | 365 | | = | 0.23013699... years | | The step-by-step calculation is: P | = | S(1 - dt) | | | = | 800,000(1 - 0.047 x 0.23013699...) | | | = | 800,000 x 0.98918356... | | | = | $791,346.85 | Rounded as last step | c)This is not
5, 6) Lima Parts, Inc., shows the following overhead information for the current period: Actual overhead incurred $ 29,400 2/3 of which is variable Budgeted fixed overhead $ 8,640 per hour Standard variable overhead rate per direct labor-hour $ 9.00 Standard hours allowed for actual production 2,350 hours Actual labor-hours used 2,200 hours ________________________________________ Required: What are the variable overhead price and efficiency variances and fixed overhead price variance? (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.) Amounts Variable overhead: Price variance $ (0%) (0%) Efficiency variance $ (0%) (0%) Fixed overhead: Price variance $ (0%) (0%) ________________________________________ P16-45 Overhead Variances (L.O.
Interpretation: The Quick ratio is computed by dividing cash plus accounts receivable by total current liabilities. Current liabilities are all the liabilities that fall due within one year. This ratio reveals the protection afforded short-term creditors in cash near-cash assets. It shows the number of liquid assets available to cover each dollar of current debt. Any time this ratio is as much as 1 to 1 (1.0) the business is said to be in a liquid condition.
http://www.irs.gov/businesses/small/article/0,,id=146330,00.html.” Dividends, interest, annuities, and royalties not accumulated through the ordinary course of trade or business is Portfolio income, not passive income. The sales of stock and bonds are also portfolio income. 7-13) Martially participation is
due = downpayment – total 10. Write a pseudocode statement that multiplies the variable subtotal by 0.15 and assigns the result to the variable totalfee. First you must make the variables real numbers. example.Dim subtotal As Double = 0 The statement asked for in the question will appear as totalfee = subtotal *
16--Statement Chapter of Cash Flows MULTIPLE CHOICE 1. Which of the following is not one of the four basic financial statements? a. balance sheet b. statement of cash flows c. statement of changes in financial position d. income statement ANS: C DIF: Easy 2. Which of the following concepts of cash is not appropriate to use in preparing the statement of cash flows? a. cash b. cash and money market funds c. cash and cash equivalents d. cash and U.S. treasury bonds ANS: D 3.
EGT-1 TASK 1 According to McConnell and Brue Marginal revenue constitutes the difference in total revenue incurred by the sale of one additional unit. So marginal revenue is calculated by dividing the change in total revenue by the change in quantity sold, which is calculated as the change in TR/ the difference in Q (McConnell & Brue, 2008). The connection in marginal revenue and total revenue is based entirely on mathematics. The computation total revenue=price x quantity is the formula used to determine total revenue. Marginal cost as stated by McConnell and Brue is said to be the extra cost of producing 1 more unit of product; so the calculation for marginal cost MC is the change in total cost TC divided by the change in total