Acct 212 week 6 quiz Study guides, Class notes & Summaries

ACCT 212 Week 5 Quiz (Summer 2021) 1. Question: Which cost flow assumption generally results in the highest … amount of net income in periods of rising inventory costs? 2. Question: Which cost flow assumption must … for financial reporting if it is also used for tax reporting? 3. Question: Under a perpetual inventory system: 4. Question: Dunbar sold 600 units of inventory during the month. Ending inventory assuming LIFO would … : (Do not round your intermediate calculations. Round your ans...

1. Question: Which of the following expenditures should … as an asset? Interest costs during the construction period of a new building. 2. Question: A company purchased land and building from a seller for $900,000. A separate appraisal reveals the fair value of the land to … $200,000 and the fair value of the building to … $800,000. For what amount would the company record land at the time of purchase? 3. Question: Kansas Enterprises … equipment for $80,500 on January 1, 2021. The ...

ACCT 212 Week 8 Quiz (Version 1) 1. Question: Zebra Company reports the following figures for the year ending December 31, 2019 and 2018……… What are the percentage changes from 2018 to 2019 for Net Sales, Cost of Goods Sold and Gross Profit, respectively. 2. Question: Szidon Company reports the following data…. Using benchmarking, what can be said about Szidon Company? 3. Question: Mussa Corporation reports the following data……… In vertical anaylsis, the cost of goods sold percen...

ACCT 212 WEEK 2 QUIZ 2 · Question 1 4 out of 4 points A note on which there is no rate of interest specified · Question 2 4 out of 4 points The person who promises to pay a certain amount of money at a definite future time is called · Question 3 4 out of 4 points The one who is to receive the specified amount of money from a note is called the · Question 4 4 out of 4 points In calculating interest on a note, it is necessary to take which o...

ACCT 212 WEEK 3 QUIZ 3 · "Limited Life" means · Question 2 4 out of 4 points A disadvantage that is NOT peculiar to the partnership form of organization includes · Question 3 4 out of 4 points Delissa invests office equipment with a fair market value of $70,000, delivery equipment with a fair market value of $89,000, and cash of $54,000. She owes $68,000, represented by a note on the delivery equipment. If Delisa's office equipment cost $...

ACCT 212 Week 8 Quiz (Version 1) 1. Question: Zebra Company reports the following figures for the year ending December 31, 2019 and 2018……… What are the percentage changes from 2018 to 2019 for Net Sales, Cost of Goods Sold and Gross Profit, respectively. 2. Question: Szidon Company reports the following data…. Using benchmarking, what can be said about Szidon Company? 3. Question: Mussa Corporation reports the following data……… In vertical anaylsis, the cost of goods sold p...

ACCT 212 WEEK 6 QUIZ 6 · Question 1 4 out of 4 points The purpose of the Statement of Cash Flows is · Question 2 4 out of 4 points Probably the most important indicator of financial health is the net cash flow from · Question 3 0 out of 4 points An Example of a cash outflow from financing activities is · Question 4 4 out of 4 points An example of a cash inflow from investing activities is · Question 5 0 out of 4 points An exam...

Question: A company incurred the following costs: Purchase price of land $230,000 Survey fees 6,000 Payment for demolition of old building on land 40,000 Bank property taxes on land 5,000 Paving costs for parking lot 50,000 Fence around perimeter of land ...

ACCT 212 Week 1 Quiz (Summer 2020) 1. (TCO 1) The type of accounting that makes projections to determine if a company should build a new store is (Points : 3) financial accounting. business accounting. managerial accounting. projection accounting. Question 2. 2. (TCO 1) Which type of business organization transacts the most business and is the largest in terms of assets, income, and number of employees? (Points : 3) Proprietorship Partnership ...