Details of this Paper

ACCT504 Devry Final(Updated on August 23,2014)




Question 1. 1. (TCO A) An advantage of the corporate form of business is _____. (Points: 5);Question 2. 2. (TCO A) Dividends flow through which one of the following statements? (Points: 5);Question 3. 3. (TCOs A, B) Below is a partial list of account balances for LBJ Company;Cash;$12,000;Prepaid insurance;1,300;Accounts receivable;7,000;Accounts payable;5,000;Notes payable;9,000;Common stock;22,000;Dividends;2,000;Revenues;45,000;Expenses;35,000;What did LBJ Company show as total debits? (Points: 5;Question 4. 4. (TCOs B, E) Which of the following statements is incorrect with regard to accrual accounting? (Points: 5);Question 5. 5. (TCO D) Which inventory method will result in the lowest income taxes when prices are decreasing? (Points: 5);Question 6. 6. (TCOs A, E) Equipment was purchased for $200,000. Freight charges amounted to $10,000 and there was a cost of $15,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $20,000 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be _____. (Points: 5);Question 7. 7. (TCOs D, G) When the market rate of interest is equal to the stated rate of interest on the bond, the bond will require _____. (Points: 5);Question 8. 8. (TCO C) Accounts receivable arising from sales to customers amounted to $50,000 and $45,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $150,000. Based on these transactions, the cash flows from operating activities to be reported on the statement of cash flows would be _____. (Points: 5);Question 9. 9. (TCO F) Horizontal analysis is also known as _____. (Points: 5);Question 10. 10. (TCO F) When performing a common-size Balance Sheet, the 100% figure is _____. (Points: 5);Question 11. 11. (TCO F) Ratios are most useful in expressing _____. (Points: 5);Question 12. 12. (TCO F) A common ratio to measure liquidity is the _____. (Points: 5);Question 13. 13. (TCO F) Shareholders are usually most interested in evaluating _____. (Points: 5);Question 14. 14. (TCO G) Which factors below impact the present value of a bond? (Points: 5)


Paper#79545 | Written in 18-Jul-2015

Price : $27