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UTA Entrance Accounting Exam If net income after tax is $42,000, the tax rate is 30%, and total expenses not including tax expense are $126,000, revenues must be: - Correct Answers $186,000 Find what the net income was before taxes and add it to expenses to get the total revenue. The financial statement that reports what the company owns and wha

ACCT 3312 final exam uta When a corporation issues its capital stock in payment for services, the least appropriate basis for recording the transaction is the - Correct Answers par value of the shares issued. At the date of the financial statements, common stock shares issued would exceed common stock shares outstanding as a result of the - Correct Answers payment in full of subscribed stock. Manning Company issued 10,000 shares of its $5 par value common stock having a fair value of $2...

UTA Entrance Accounting Exam If net income after tax is $42,000, the tax rate is 30%, and total expenses not including tax expense are $126,000, revenues must be: - Correct Answers $186,000 Find what the net income was before taxes and add it to expenses to get the total revenue. The financial statement that reports what the company owns and what the company owes is the - Correct Answers balance sheet The balance sheet shows assets, liabilities, and equity which show what is owned an...

UTA Accounting Entrance Exam with correct answers Jones Dairy purchased a new milking machine for $40,000 cash. To record the transaction on Jones' books, you would: - Correct Answers debit an asset account and credit an asset account. Rent Expense typically would have: - Correct Answers a debit balance. If the beginning balance in the Machinery account is $35,000, and if the ending balance in the Machinery account is $57,000, then: - Correct Answers purchases and sales of machinery...

UTA Accounting Entrance Exam The accounting profession can be divided into three major categories; specifically, the practice of public accounting, private accounting, and governmental accounting. A somewhat unique and important service of public accountants is: - Correct Answers Auditing The primary private sector that oversees external financial reporting standards is the: - Correct Answers Financial Accounting Standards Board Which of the following equations properly represents a der...

PA Appraisers License with correct answers 100% How is a diamond condition fixed? - Correct Answers By pulling the damage for length. Diamond is a length condition. When measuring a unibody vehicle, it is discovered that the left front rail is 111mm from spec in width. What condition is this? - Correct Answers Width is calculated from the cente

PA Appraiser New with correct answers 100% What are the number of business days you have per Act 361 to inspect a vehicle? - Correct Answers 6 How many days after an inspection should a total loss be offered to the owner? - Correct Answers 5 Aftermarket parts can only be used when? - Correct Answers The parts are listed and coded in the estimate Aftermarket - Correct Answers Nonoriginal equipment manufacturer (non-OEM) replacement part, either new or used, for any of the nonmechan...

PA Appraiser Exam with correct answers Principle of Indemnity - Correct Answers restoration to approximate previous financial condition; no more, no less Insurable Interest - Correct Answers direct financial interest in protecting something or someone Lender Interest - Correct Answers protects a lender who loans money to a buyer Risk - Correct Answers potential for financial loss or an insured item Exposure - Correct Answers is openness to loss or damage hazard - Correct A...

PA Motor Vehicle Damage Appraiser's License with correct answers Applicant Age - Correct Answers 18 years or older How long do you have to wait to be eligible to retake an examination if you fail? - Correct Answers 30 days The Commissioner will prescribe the form of the appraiser's license and it will contain: - Correct Answers Name of the appraiser Address of the appraiser's place of business Date of issuance and expiration date of license Any other information which the c...

PA Appraisers License with correct answers 100% How is a diamond condition fixed? - Correct Answers By pulling the damage for length. Diamond is a length condition. When measuring a unibody vehicle, it is discovered that the left front rail is 111mm from spec in width. What condition is this? - Correct Answers Width is calculated from the center out, so a value of -111mm on the left rail shows sway to the right and in toward centerline. A collision damaged vehicle is discovered to be d...