ACC 305 Week 3 Quiz (2 Set)
$6.00

ACC 305 Week 3 Quiz (2 Set)

This Tutorial was purchased 1 times & rated No rating by student like you.

 

This Tutorial contains following Attachments

  • ACC 305 N Week 3 Quiz (2 Set) 1.docx
  • ACC 305 N Week 3 Quiz (2 Set).docx

ACC 305 Week 3 Quiz (2 Set)

 

 

1.         Question :        On November 10 of the current year, Cherokee Industries sold materials to a customer for $8,000 with credit terms 2/10, n/30. Cherokee uses the net method of accounting for cash discounts.

What entry would Cherokee make on November 10?

 

           

2.         Question :        Cash that is restricted and not available for current operations is reported in the balance sheet as:

           

3.         Question :        Which of the following must be known to compute the interest rate paid from financing an asset purchase with an annuity?

 

4.         Question :        Zulu Corporation hires a new chief executive officer and promises to pay her a signing bonus of $2 million per year for 10 years, starting five years after he joins the company. The liability for this bonus when the CEO is hired:

 

 

5.         Question :        LeAnn wishes to know how much she should set aside now at 7% interest in order to accumulate a sum of $5,000 in four years. She should use a table for the:

 

           

6.         Question :        Loan A has the same original principal, interest rate, and payment amount as Loan B. However, Loan A is structured as an annuity due, while Loan B is structured as an ordinary annuity. The maturity date of Loan A will be:          

 

 

7.         Question :        A note receivable Mild Max Cycles discounted with recourse was dishonored on its maturity date. Mild Max would debit:

 

 

8.         Question :        George Jones is planning on a cruise for his 70th birthday party. He wants to know how much he should set aside at the beginning of each month at 6% interest to accumulate the sum of $4,800 in five years. He should use a table for the:

 

 

9.         Question :        Nontrade receivables do not include:

 

10.       Question :        Which of the following do not change the balance in Accounts receivable?

 

 

 

ACC 305 Week 3 Quiz (2 Set) 1

 

 

 

1. Question : Sandra won $5,000,000 in the state lottery which she has elected to receive at

the end of each month over the next thirty years. She will receive 7% interest on

unpaid amounts. To determine the amount of her monthly check, she should use

a table for the:

 

2. Question : When you use an aging schedule approach for estimating uncollectible accounts:

Student Answer: Bad debts expense is measured indirectly, and the Allowance for

uncollectibles balance is measured directly.

 

3. Question : Which of the following do not change the balance in Accounts receivable?

 

4. Question : Cash that is restricted and not available for current operations is reported in the

balance sheet as:

 

5. Question : Which of the following is recorded by a credit to Accounts receivable?

 

6. Question : George Jones is planning on a cruise for his 70th birthday party. He wants to

know how much he should set aside at the beginning of each month at 6%

interest to accumulate the sum of $4,800 in five years. He should use a table for

the:

 

 

7. Question : A note receivable Mild Max Cycles discounted with recourse was dishonored on

its maturity date. Mild Max would debit:

 

8. Question : Zulu Corporation hires a new chief executive officer and promises to pay her a

signing bonus of $2 million per year for 10 years, starting five years after he joins

the company. The liability for this bonus when the CEO is hired:

 

9. Question : Tammy wants to buy a car that costs $10,000 and wishes to know the amount of

the monthly payments, which will be made at the first of the month, with interest

of 12% on the unpaid balance. She should use a table for the:

 

10. Question : LeAnn wishes to know how much she should set aside now at 7% interest in

order to accumulate a sum of $5,000 in four years. She should use a table for

the:

Write a review

Order Id


Order Id will be kept Confidential
Your Name:


Your Review:
Rating:   A   B   C   D   F  

Enter the code in the box below:



Related Tutorials
$8.00

This Tutorial was purchased 12 times & rated A by student like you.

This Tutorial contains 3 Papers   Focus of the Final Paper Submit a seven to ten page paper on one of the major topics listed below. The paper should incorporate at least three other appropriately documented and related articles drawn from the University’s Library. (Note: y..
$3.00

This Tutorial was purchased 4 times & rated B+ by student like you.

Depreciation Methods. From Chapter 11 complete E11-5 (page 599) and E11-10 (page 600) and post to the discussion board by Day 3. Complete all parts of the problems and report back to the group the results of your analysis. Do not forget to show the necessary steps and explain how you attained tha..
$6.00

This Tutorial was purchased 5 times & rated A+ by student like you.

ACC 305 Week 5 P11-5, P11-7   Operational Assets & Depletion. Complete the following activities and submit your answers to your instructor in a Word document formatted to proper APA specifications. Include any relevant supporting calculations. P11-5 (Page 608-609) Review the info..
$3.00

This Tutorial was purchased 3 times & rated No rating by student like you.

ACC 305 Week 5 Ethics Case 10-12 Ethics Case 10-12 on page 553 - Mayer Biotechnical, Inc - Research and development ● LO8 Mayer Biotechnical, Inc., develops, manufactures, and sells pharmaceuticals. Significant research and development (R&D) expenditures are made for the development o..
$3.00

This Tutorial was purchased 6 times & rated A+ by student like you.

Ethics Case 9-11 on page 497 Danville Bottlers is a wholesale beverage company. Danville uses the FIFO inventory method to determine the cost of its ending inventory. Ending inventory quantities are determined by a physical count. For the fiscal year- end June 30, 2011, ending inventory was o..
$3.00

This Tutorial was purchased 1 times & rated No rating by student like you.

ACC 305 Week 4 Communication Case 8-4 Communication Case 8-4 on page 442 You have just been hired as a consultant to Tangier Industries, a newly formed company. The company president, John Meeks, is seeking your advice as to the appropriate inventory method Tangier should use to value its..
$3.00

This Tutorial was purchased 5 times & rated A by student like you.

ACC 305 Week 3 Judgment Case 7-5   Judgment Case 7-5 on page 391 For each of the following independent situations, indicate the apparent internal control weaknesses and suggest alternative procedures to eliminate the weaknesses.  1. John Smith is the petty cash custodian..
$3.00

This Tutorial was purchased 3 times & rated B+ by student like you.

ACC 305 Week 3 Communication Case 6-3   Communication Case 6-3 on page 334 Harvey Alexander, an all-league professional football player, has just declared free agency. Two teams, the San Francisco 49ers and the Dallas Cowboys, have made Harvey the following offers to obtain his s..
$3.00

This Tutorial was purchased 1 times & rated No rating by student like you.

Judgment Case 5-2 (page 291)   Revenue earned by a business enterprise is recognized for accounting purposes at different times, according to the circumstances. In some situations revenue is recognized approximately as it is earned in the economic sense. In other situations revenue i..
$3.00

This Tutorial was purchased 3 times & rated B+ by student like you.

Judgment Case 4-3 (page 225) Companies often are under pressure to meet or beat Wall Street earnings projections in order to increase stock prices and also to increase the value of stock options. Some resort to earnings management practices to artificially create desired results. Required..
$3.00

This Tutorial was purchased 2 times & rated B+ by student like you.

Judgment Case 2-1 (page 109) You have recently been hired by Davis & Company, a small public accounting firm. One of the firm’s partners, Alice Davis, has asked you to deal with a disgruntled client, Mr. Sean Pitt, owner of the city’s largest hardware store. Mr. Pitt is applying to a loca..
$3.00

This Tutorial was purchased 0 times & rated No rating by student like you.

Research Case 1-3 (page 45) The purpose of this case is to introduce you to the information available on the website of the Financial Accounting Standards Board (FASB). Required: Access the FASB home page on the Internet. The web address is www.fasb.org. Answer the following questions..
$6.00

This Tutorial was purchased 4 times & rated A by student like you.

Week One Exercises. Complete the following activities and submit your answers to your instructor in a Word document formatted to proper APA specifications. Include any relevant supporting calculations. E3-18 (Page 152) Determine the following 2011 balance sheet items using the information provide..
$25.00

This Tutorial was purchased 16 times & rated A+ by student like you.

Please check All included Assignments/DQs/Quiz Below     ACC 305 Week 1 Assignments E 3-18, E 3-20, Judgement Case 3-5 ACC 305 Week 1 DQ 1 FASB and Ethics ACC 305 Week 1 DQ 2 Cash versus Accrual & Financial Disclosures ACC 305 Week 1 Quiz (2 S..
$8.00

This Tutorial was purchased 3 times & rated A+ by student like you.

E4-16 Bluebonnet Bakers E4-19 Wainwright Corporation E4-22 Tiger Enterprises Judgment Case 4-9 E5-3 Instalment sales E5-10 Project Contracts ..
$7.00

This Tutorial was purchased 4 times & rated A by student like you.

P7-10 (pg388)   Evergreen Company Required: REQ1- prepare the necessary journal entries for Evergreen for each of the about dates. For transactions involving the sale of merchandise, ignore the entry for the cost of goods sold (round all calculations to nearest dollar). REQ2..
$6.00

This Tutorial was purchased 1 times & rated No rating by student like you.

ACC 305 Week 1 Quiz (2 Set)       1.         Question :        Rent collected in advance is:   2.         Question :   &nbs..
$6.00

This Tutorial was purchased 2 times & rated B+ by student like you.

ACC 305 Week 2 Quiz     1. Question : Indiana Co. began a construction project in 2006 that will provide it $150 million when it is completed in 2008. During 2006, Indiana incurred $36 million of costs and estimates an additional $84 million of costs to complete the ..
$6.00

This Tutorial was purchased 3 times & rated A+ by student like you.

ACC 305 Week 4 Quiz (2 Set)     1.         Question :        Nu Company reported the following pretax data for its first year of operations. Net sales 2,800 Cost of goods available for sale 2,500 ..
acc305 © 2017 All Rights Reserved.