Reference no: EM131154598
Accounting quiz
1. The Accounting Equation is used to develop the organization's financial reports. (1) Describe what owners' equity values would be if Assets are $100,000 and Liabilities are $27,000 by showing the Accounting Equation and (2) provide an explanation of what accounts could be found in owners' equity.
2. The accounting profession follows a set of guidelines for measurement and disclosure of financial information called the Generally Accepted Accounting Principles (GAAP). (1) Explain what the Going-concern Assumption is and (2) provide an example of its application.
3.Transaction analysis results in the development of a journal entry. A building is purchased for $535,000. (1) Name the accounts impacted and how to use the format account name/debit or credit/dollar amount, and (2) explain how the Accounting Equation is impacted.
4. Adjusting Entries are required at the end of the period to ensure that accrual accounting principles are applied. The rent is prepaid for three months at $1,200 per month. Develop the adjusting entry at the end of the first month that rent should be applied. (1) Name the accounts impacted and how to use the format account name/debit or credit/dollar amount, and (2) explain how the Accounting Equation is impacted.
5. The financial statements present a company to the public in financial terms. (1) Which financial statement identifies where cash was generated and where it was spent during the year, and (2) identify the three major parts of this statement.
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Design and implement the class day
: Design and implement the class Day that implements the day of the week in a program. The class Day should store the day, such as Sun for Sunday. The program should be able to perform the following operations on an object of type Day: Set the day
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What is the optimum operating reaction temperature
: For a reversible exothermic elementary catalytic reaction of the type A B, what is the optimum operating reaction temperature at a conversion level , xa = 0.8 given- K1 = exp ( 10 -5000/T) K2 = exp ( 40 - 15000 /T) and maximum allowable temperatu..
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What is evanecs cost of retained earning
: What is Evanec's cost of retained earning, rs ? - What is Evanec's percentage flotation cost, F ?- What is Evanec's cost of new common stock, re ?
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Estimate the overall mass transfer coefficient kl
: What is the molar concentration of the ammonia in the liquid at the interface?
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Explain how the accounting equation is impacted
: Name the accounts impacted and how to use the format account name/debit or credit/dollar amount, and explain how the Accounting Equation is impacted.
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Find the net force experienced by a positive charge
: Two charges of equal magnitude 5µC but opposite sign are separated by a distance of 10 m. Find the net force experienced by a positive charge q = 2 µC that is placed midway between the two charges.
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What is the pesticide concentration in the test sample
: After 50 ml of the same enzyme solution in part (a) is mixed with 50 ml of 8x10-4 M substrate and 25 ml of a test sample, the initial rate observed is 18 µM/min. What is the pesticide concentration in the test sample assuming no other inhibitors o..
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Should you hedge or not and if so how
: You are the CEO of a domestic exporter that trades with customers in England. The currency is denominated in pounds. You expect the British pound to strengthen against the U.S. dollar. Should you hedge or not? If so, how?
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Write a report discussing three different methods
: Accounting for merchandise inventory is done using different methods. Write a report discussing three different methods (3 inventory costing methods (specific identification, FIFO, LIFO, and/or weighted average).
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