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ACCT 301 Week 4 Midterm Exam Set 1 DeVry

ACCT 301 WEEK 4 MIDTERM EXAM SET 1 DEVRY

ACCT 301 WEEK 4 MIDTERM EXAM SET 1 DEVRY

Page 1
(TCO 1)Suppose your company sold $25,000 in merchandise to a customer for cash. How does this transaction impact the accounting equation? (Points : 12)
2. (TCO 2)Suppose your company sold $50,000 in merchandise to a customer for cash. How does this transaction impact the accounting equation? (Points : 12)
3. (TCO 3) Rationalization is one of the components of the fraud triangle. What types of rationalization could a person use to justify misconduct? How can a company protect itself from rationalization as a part of fraud? (Points : 12)
4. (TCO 4) What is horizontal analysis of financial statements? How here does horizontal analysis differ from vertical analysis? (Points : ACCT301 Week 4 Midterm Exam Set 1 12)
Page 2
1. (TCO 3) Separation of duties is a key feature in an internal control system. Why is separation of duties such an important internal control? Give an example of separation of duties as an internal control. (Points : 24)
2. . (TCO 1) Describe the balance sheet. Why is this statement important to the company, creditors, and investors? (Points : 24)
3. (TCO 4) Name and describe one liquidity ratio. What does this ratio measure? What is the formula for this ratio? (Points : 24)

Tags: ACCT 301, ACCT 301 Week 4 Midterm Exam Set 1, ACCT 301 Week 4 Midterm Exam Set 1 DeVry, ACCT301, ACCT301 Week 4 Midterm Exam Set 1, ACCT301 Week 4 read more Midterm Exam Set 1 DeVry

ACCT301

ACCT 301 WEEK 4 MIDTERM EXAM SET 3 DEVRY

ACCT 301 WEEK 4 MIDTERM EXAM SET 3 DEVRY

Question (TCO 5)A company has total fixed costs of $210,000 and a contribution margin ratio of 30%. How much sales are necessary to break even?
2. Question (TCO 5)How much sales are required to earn a target income of $70,000, if total fixed costs are $100,000 and the contribution margin ratio is 40%?
3. Question (TCO 6) For which one of the following budgeting aspects does the budget committee generally have the responsibility?
4. Question (TCO 6) Under what situation might a budget be most effective?
5. Question (TCO 6) How does long-range planning compare to a master budget?
6. Question (TCO 6) Which one of the following is a source of information used to prepare the budgeted income statement?
7. Question (TCO 7) When is a static budget most appropriate in evaluating a manager’s performance?
8. Question ACCT 301 Week 4 Midterm Exam Set 3 DeVry (TCO 7) Which type of center is the housekeeping department of a manufacturing company?
9. Question (TCO 7) For which of the read more following is an investment center manager responsible?
10. Question (TCO 7) Merck Pharmaceuticals is evaluating its Vioxx division, an investment center. The division has a $45,000 controllable margin and $300,000 of sales. How much will Merck’s average operating assets be when its return on investment is 10%?
11. Question (TCO 11) Financial and managerial accounting are both concerned with the economic events of an enterprise. Similarities between financial and managerial accounting do exist, but they have a different focus. Briefly distinguish between financial and managerial accounting as they relate to (1) the primary users, (2) the type and frequency of reports, (3) the purpose of reports, and (4) the content of reports.
12. Question (TCO 4) Are short-term creditors, long-term creditors, and stockholders primarily interested in the same characteristics of a company? Explain.
13. Question (TCO 5) In the month of September, Nixon Company sold 800 units of product. The average sales price was $30. During get more info the month, fixed costs were $7,200 and variable costs were 60% of sales.


Tags: ACCT 301, ACCT 301 Week 4 Midterm Exam Set 3, ACCT 301 Week 4 Midterm Exam Set 3 DeVry, ACCT301, ACCT301 Week 4 Midterm Exam Set 3, ACCT301 Week 4 Midterm Exam Set 3 DeVry

ACCT 251 Peachtree assignment week 5

Peachtree assignment acct251 week 5

You will be completing your assignment using Peachtree, accessible in the iLab. Visit the iLab content item under Course Home for instructions on how to access Peachtree.

Complete Exercise 10-1 and 10-2. In Exercise 10-2, Steps #4-#10 asks you to generate a series of reports that you will convert to Excel. These are the reports that you will submit as your homework.

Complete Exercise 11-1 and 11-2. In Exercise 11-1, Steps #6-#12 asks you click here to generate a series of reports that you will convert to Excel. These are the reports that you will submit as your homework. In Exercise 11-2, Steps #6-#11, #14-16, and #21 asks you to generate a series of reports that you will convert to Excel. These are the reports that you will submit as your homework.

Submit your assignment to the Dropbox located on the silver tab at the top of this here page. For instructions on how to use the Dropbox, read thesestep-by-step instructions or watch this Dropbox Tutorial.

Tags: ACCT, ACCT 251, ACCT 251 Peachtree here assignment week 5

ACCT251DQ

ACCT 251 week 5 Discussions latest
Journals & Ledgers (graded)
What are the similarities and differences between manual-based journals/ledgers and automated accounting system journals/ledgers?
Closing the Books (graded)
As you close your books, what source document(s) are needed to help your close your books in an automated accounting systems?

ACCT 251 week 6 Discussions latest
Data Needed for Purchasing Activities (graded)
In order topurchase goods click here & services via an automated accounting system, we know that vendor data must be created correctly in Peachtree. Identify and discuss what is needed to be set-up correctly in Peachtree Complete Accounting 2010.
Data Needed for Sales Activities (graded)
In order to sell goods & services via an automated accounting system, we know that customer data must be created correctly in Peachtree. Identify and discuss what additional is needed to be set-up correctly ACCT 251 in Peachtree Complete Accounting 2010.

Tags: ACCT 251, ACCT 251 Discussion Week 5 - ACCT 251 6, ACCT251, ACCT251DQ