Acctg company prompts
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226 terms
Terms | Definitions |
|---|---|
 Surefeet Corporation | Consistency |
| Maltec Corporation | Timeliness |
| Primecoat Corporation | Cost effectiveness |
| Mega Loan Company | Materiality |
| Ford Motor Company | Option A |
| XYZ Corporation | Credit to capital stock |
| Mary Parker Co | A. Debit to investments |
| Hughes Aircraft | C. Debit to note receivable |
| Somerset Leasing | B. Option B |
| Davis Hardware | B. Option B |
| Ace Bonding Company | A. Option A |
| Coolwear Inc. | D. 2100 |
| Larry's Used Cars Inc. | C. 52400 |
| Cal Farms | B. 1800000 |
| Carolina Mills | C. 260000 |
| Yummy Foods | D. |
| Neat Clothes | D. |
| Fortune Magazine | B. |
| Mama's Pizza Shoppe | C. |
| Oliver's Mortuary | A. |
| Acme Corp. | C. 10000 |
| Eve's Apples | B. 18000 |
| Fink Insurance | B. 16000000 |
| Tim's Toys | C. 450000 |
| Best Corp. | C. 300000 |
| Dave's Duds | C. 2200000 |
| Molly's Auto Detailers | C. 49000 |
| Pat's Custom Tuxedo Shop | D. 29000 |
| Hamada Company | C. 58000 |
| Royal Corp. | C. |
| Castle Corp | D. 227500 |
| Popson Inc. | C. A separate line item within income from continuing operations |
| Provincial Inc | B. 180000 |
| Freda's Florist | C. 100000 and 128000 |
| Claxton Company | B. As a discontinued operation, reported below income from continuing operations |
| Rocket Retailers | D. 125000 |
| Jamison Inc. | A. 65 million |
| Mercedes Co with 2500000 FV | B. 2500000 loss |
| Mercedes Co with 3500000 FV | A. 2000000 loss |
| Foxtrot Co. Hint: income loss | C. Income (loss) from its continuing and discontinued operations separately |
| Foxtrot Co. Hint: income taxes | B. Income taxes would be separated for continuing and discontinued operations |
| Foxtrot Co. income from discontinued operations | B. 13.2 million |
| Footwear Division, Fv: 40 million | C. 10.8 million loss |
| Footwear Division, Fv: 80 million | A. 6 million loss |
| Major Co. | B. 90000 and 154000 |
| Howard Co. | A. 198000 and 112000 |
| Misty Company, income before extraordinary item | A. 198 |
| Misty Company, net income for the current year | B. 168 |
| Cal's Cookies | B. 84000 and 45000 |
| Romano Inc. | A. Prospectively |
| Jack's Fireworks | B. Option b |
| E-Z Prices | D. a current year's expense |
| Harley Davis, Inc | D. 48000 |
| Elmore Co. | A. 25000 |
| Pablo | B. 7050 |
| Cendant Corporation | C. 820000 |
| Maytag Corporation | D. Income from continuing operations, loss from discontinued operations, extraordinary items and net income |
| Schneider Inc. | A. 590000 |
| Tropical Tours | C. 403000 |
| Shively Mfg. Co | D. Investing cash inflows of 18000 |
| Arrow Printers | C. Operating, 12000, financing 6000 |
| Hong Kong Clothiers | A. 4965000 |
| Lucia Ltd. | A. 132000 |
| Shady Lane | D. A cash outflow of 82 million |
| Bird Brain Co. | A. 48000 |
| Nevada Boot Co. | C. 211000 |
| Rowdy's operating | B. 120 |
| Rowdy's investing | C. (3900) |
| Rowdy's financing | D. 900 |
| Jacobsen GAAP | B. 372000 |
| Jacobsen IFRS | C. 492000 |
| HHF's long term debt-to-equity ratio equity is: | B. 75% |
| HHF's times interest earned ratio is (rounded) | A. 3.47 |
| HHF's debt-to-equity ratio is (rounded) | B. 1.13 |
| Paisano's acid-test ratio is | B 0.88 |
| Paisano's quick assets total | C. 280 |
| Paisano's working capital is | C. 185 |
| Paisano Seafood Inc. current ratio | B. 1.58 |
| Janson's current liability | C. 61000 |
| Janson's current assets | B. 85000 |
| Symphony working capital | C. 128 |
| Symphony total shareholders' equity | B. 803 |
| Symphony total assets | D. 2303 |
| Symphony total current assets | A. 823 |
| New Oaks Winery | B. 30 months |
| Red Onion Restaurant | C. Definition |
| Mateo Corporation | C. 405000 |
| Alison's dress shop | B. 5880 |
| Northwest ending inventory under gross method | B 112500 |
| Northwest cost of goods sold under gross method | D 492500 |
| CBC ending inventory under gross method | C 15480 |
| CBC cost of goods sold available for sale under gross method | C 331480 |
| Company A is identical to Company B in every regard except that Company A uses FIFO and Company B uses LIFO. In an extended period of rising inventory costs, Company A's gross profit and inventory turnover ratio, compared to Company B's, would be: | C. higher, lower |
| Company C is identical to Company D in every respect except that Company C uses LIFO and Company D uses average costs. In an extended period of rising inventory costs, Company C's gross profit and inventory turnover ratio, compared to Company D's, would be: | D. lower, higher |
| Fulbright Corp ending inventory under average cost method | C. 707 |
| Fulbright Corp ending inventory under the FIFO method | D. 600 |
| Fulbright Corp ending inventory under the LIFO method | B. 1000 |
| Nu Company net income with FIFO | B. 288 |
| Nu Company net income with LIFO | B. 144 |
| Nu Company gross profit ratio with LIFO | C. 40% |
| Nueva's gross profit ratio with FIFO | B. 32% |
| Nueva's net income with FIFO? | D. 372 |
| Nueva's net income with LIFO | B. 264 |
| Herb's Chemicals ending inventory assuming LIFO periodic | A. 5040 |
| Herb's Chemicals ending inventory assuming LIFO perpetual | B. 5060 |
| Herb's Chemicals ending inventory assuming FIFO | A. 5140 |
| Herb's Chemicals ending inventory assuming average cost periodic | A. 5087 |
| Texas Petrochemical ending inventory LIFO periodic | D. 1470 |
| Texas Petrochemical ending inventory LIFO perpetual | A. 1545 |
| GG Inc. | C. 9 million higher |
| HH company | D. 20 million higher |
| WW Inc. | D. 30 million higher because purchase prices were declining |
| Thompson gross profit | C. 20% |
| Thompson inventory turnover | B. 4.00 |
| Robertson Corporation | D. 210000 |
| ATC gross profit | A. 53.4 |
| ATC inventory turnover | B. 2.76 |
| ATC average days inventory | C. 132 days |
| Bond Company | A. 357600 |
| Badger 11 inventory balance | B. 121000 |
| Badger 12 inventory balance | C. 11000 |
| Badger 13 inventory balance | B. 129800 |
| Ramen | B. 631800 |
| Udon | C. 742000 |
| Linguini Inc. | A. 780000 |
| Buckeye Corporation | C. 505000 |
| Tiger Inc. | D. 380600 |
| Masterlink Co. | C. Yes No |
| Montana Co. | B. 520000 |
| Costco inventory of surgical equipment | C. 170 |
| Costco inventory of surgical supplies | C. 80 |
| Costco inventory of rehab equipment | D. 235 |
| Costco inventory of rehab supplies | D. 155 |
| Alpine Ski Equipment inventory of skis | D. 126000 |
| Alpine Ski Equipment inventory of boots | C 130000 |
| Alpine Ski Equipment inventory of apparel | B. 90000 |
| Alpine Ski Equipment inventory of supplies would be valued at | A. 45000 |
| Larrenaga | D 280000 |
| So California Inc | C 395000 |
| Howard Supply | C 250000 |
| Coastal Shores Inc | B. 65000 |
| Fad City | C 29 |
| Harvey's Junk Jewelry current period's cost to retail percentage is | D 49800 |
| Harvey's Junk Jewelry denominator for the current period's cost-to-retail percentage | B 73300 |
| Harvey's Junk Jewelry estimated ending inventory at retail is | B. 25000 |
| Harvey's Junk Jewelry to the nearest thousand, the estimated ending inventory at cost is | A. 16000 |
| Lacy's Linen Mart | A 68200 |
| Hawkeye Auto Parts | B 360000 |
| Marilee's Electronics cost-to-retail percentage | D. 55% |
| Marilee's Electronics estimated ending inventory | A 55000 |
| Benny's Bed Co cost-to-retail percentage | B 55.6% |
| Benny's Bed Co ending inventory | D. None of the above is correct |
| Houdini cost-to-retail percentage | A. 70% |
| Houdini's ending inventory at retail | D. 129000 |
| Houdini's ending inventory at cost | B 83500 |
| Willie Nelson's Boots cost to retail percentage | B 66.7% |
| Willie Nelson's Boots ending inventory using the conventional retail method is | D 30000 |
| Clarabell Inc cost to retail percentage | A 54.9% |
| Clarabell Inc ending inventory using the conventional retail method | C 127000 |
| Portman Inc | A 150 million |
| Harlequin Co | D. It can't be determined with the given info |
| Prunedale Co overstated by 32. | A. Overstated by 94000 |
| Prunedale Co understated by 30 | C. Understated by 31000 |
| Johnson Corporation loss on purchase commitment | B 20000 |
| Johnson record inventory purchased | C 180000 |
| Sullivan carrying value | B 440000 |
| Sullivan carrying value IFRS | D 490000 |
| Grab Manufacturing Co. | C. 187600 |
| Holiday Laboratories | A. 455000 |
| Vijay Inc. | C. 334650 |
| Larkin Co. | C 477000 |
| Simpson and Homer Corporation | B. Option B |
| Cantor Corporation | C. Option C |
| Davidson Corporation | C. 420000 |
| Alamos with substance | B. 8000 |
| Alamos without substance | D. 0 |
| Horton Stores with substance | B. 105000, 10000 |
| Horton Stores without substance | C. 95000, 0 |
| Bloomington Inc. | C. 87000, (14000) |
| P. Chang & Co | A. 99000, (16000) |
| Grand Forks Case A | B. 75000 |
| Grand Forks Case B | C. (5000) |
| Pensacola Case A | A. 68000 |
| Pensacola Case B | B. (4000) |
| Crocus 2010 specific interest | B. 1.95 million |
| Crocus accumulated expenditures 2011 | D. 124.25 million |
| Crocus 2011 specific interest | D. None of the above is correct |
| kendall 2011 accumulated expenditures | A. 300000 |
| Kendall 2012 accumulated expenditures | D. 1036000 |
| Kendall 2012 interest capitalized | B. 86805 |
| Dreamworld 2011 accumulated expenditures | B. 450000 |
| Dreamworld 2011 capitalized interest | C. 54000 |
| Dreamworld 2012 accumulated expenditures | B. 1554000 |
| Dreamworld final cost | B 2143860 |
| Cuter S-L dep 2011 | 13200 |
| Cutter S-L BV 2011 | 58800 |
| Cuter S-L dep and BV 2011 | 13220, 45600 |
| Cutter DDB dep and BV 2011 | 28800, 43200 |
| Cutter DDB dept 2012 | 17280 |
| Cutter DDB BV 2012 | 25920 |
| Cutter SYD dep and BV 2011 | 22000, 50000 |
| Cutter SYD dep and BV 2012 | 17600, 32400 |
| Prego Equipment 2011 depreciation | A 36000 |
| Prego Equipment 2012 depreciation | B 126000 |
| Archie S-L dep and BV 2011 | 10000, 35000 |
| Archie S-L dep and BV 2012 | 10000, 25000 |
| Archie DDB dep and BV 2011 | 22500, 22500 |
| Archie DDB dep and BV 2012 | 11250, 11250 |
| Archie SYD dept and BV 2011 | 16000, 29000 |
| Archie SYD dep and BV 2012 | 12000, 17000 |
| jennings | B 3 years |
| Gulf Consulting Co | C 259000 |
| C3PO | C 12 million |
| M Belotti 2011 depletion | B 32800 |
| M Belotti 2012 depletion | C 52480 |
| Short Corporation | D 0 |
| Granite Enterprises | C 760000 |
| Vega CorporatION | C 215000 |
| Nanki Corporation | C 122500 |
| Fellingham Corporation | D 41000 |
| Murgatroyd Co | A 75000 |
| Broadway Ltd | D 240000 |
| Al's Sporting Goods | B Option B |
| Fryer's Inc | C Would record a 23 million impairment loss |
| Wilson Inc. | A Would record no impairment loss |
| Jung Inc. | C. Would record a $15 million impairment loss on the patent |
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