Acc 350 final exam Study guides, Class notes & Summaries
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ACC 561 FINAL EXAM 4
- Exam (elaborations) • 7 pages • 2022
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ACC 561 FINAL EXAM 4 
 
1.	Question 1 
The entry to record the acquisition of raw materials on account is: 
Correct 
(B) Raw Materials Inventory&... 
2.	Question 2 
Which of the following statements concerning users of accounting information is incorrect? 
Correct 
(D) Regulatory authorities ... 
3.	Question 3 
The Mac Company has four plants nationwide that cost $350 million. The current fair value of the plants is $300 million. The plants will be reported as assets at: 
Correct 
(A) $350 milli...
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ACC 561 FINAL EXAM 3
- Exam (elaborations) • 3 pages • 2022
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ACC 561 FINAL EXAM 3 
 
1.	At September 1, 2017, Baxter Inc. reported Retained Earnings of $423,000. During the month, Baxter generated revenues of $60,000, incurred expenses of $36,000, purchased equipment for $15,000 and paid dividends of $6,000. What is the balance in Retained Earnings at September 30, 2017 
$441,000 credit 
2.	The investigation of materials price variance usually begins in the 
Purchasing department 
3.	Scorpion Production Company planned to use 1 yard of plastic per unit b...
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ACC 561 FINAL EXAM 2
- Exam (elaborations) • 4 pages • 2022
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ACC 561 FINAL EXAM 2 
 
1.	Danner Corporation reported net sales of $650,000, $720,000, and $780,000 in the years 2016, 2017, and 2018, respectively. If 2016 is the base year, what percentage do 2018 sales represent of the base? 
a. 2018 net sales / base year 2016 net sales = 780,000 / 650,000 = 1.2 
1.2 x 100% = 120% 
The answer is 120% 
 
2.	Ben Gordon, Inc. manufactures 2 products, wheels and seats. The company has estimated its overhead in the assembling department to be $660,000. The compan...
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ACC-350 Final Exam(UPDATE)
- Exam (elaborations) • 9 pages • 2021
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ACC-350 Final Exam
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ACC 561 FINAL EXAM 1
- Exam (elaborations) • 4 pages • 2022
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ACC 561 FINAL EXAM 11.	Danner Corporation reported net sales of $650,000, $720,000, and $780,000 in the years 2016, 2017, and 2018, respectively. If 2016 is the base year, what percentage do 2018 sales represent of the base? 
a. 2018 net sales / base year 2016 net sales = 780,000 / 650,000 = 1.2 
1.2 x 100% = 120% 
The answer is 120% 
 
2.	Ben Gordon, Inc. manufactures 2 products, wheels and seats. The company has estimated its overhead in the assembling department to be $660,000. The company pr...
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Exam (elaborations) ACC 350 - Managerial Accounting (ACC 350 - Managerial Accounting)
- Exam (elaborations) • 9 pages • 2021
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Exam (elaborations) ACC 350- Managerial Accounting (ACC 350 - Managerial Accounting)
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ACC-350 Final Exam - questions and answers
- Exam (elaborations) • 9 pages • 2021
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ACC-350 Final Exam
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ACC 561 FINAL EXAM 1 | VERIFIED SOLUTION
- Exam (elaborations) • 4 pages • 2021
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ACC 561 FINAL EXAM 1 
 
1.	Danner Corporation reported net sales of $650,000, $720,000, and $780,000 in the years 2016, 2017, and 2018, respectively. If 2016 is the base year, what percentage do 2018 sales represent of the base? 
a. 2018 net sales / base year 2016 net sales = 780,000 / 650,000 = 1.2 
1.2 x 100% = 120% 
The answer is 120% 
 
2.	Ben Gordon, Inc. manufactures 2 products, wheels and seats. The company has estimated its overhead in the assembling department to be $660,000. The compan...
-
ACC-350 Final Exam
- Exam (elaborations) • 9 pages • 2021
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- $15.49
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ACC-350 Final Exam
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