ACC 300 Final Exam

Topics: Balance sheet, Generally Accepted Accounting Principles, Income statement Pages: 3 (438 words) Published: September 4, 2014
ACC 300 Final Exam

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1. Which of the following is not an asset:

2. Amy Co. acquired $500 worth of supplies on credit. Which of the following journal entries would be recorded?

3. Baker Company earned $10,000 revenue for services provided. Which of the following is correct?

4. Candy Company collected $5,000 from a customer on account. What journal entry will Candy Company record?

5. Ernie Corporation capitalized a $20,000 automobile. Which of the following is mostly likely true?

6.Liabilities are generally classified on a balance sheet as

7.Office equipment is classified on the balance sheet as

8.The total dollar amount of assets to be classified as current assets is

9.The total dollar amount of assets to be classified as property, plant, and equipment is

10.The total dollar amount of assets to be classified as investments is

11.The total amount of working capital is

12.The current ratio is

13. Which of the following is a measure of liquidity?

14.Current assets divided by current liabilities is known as the

15. State the accounting equation:

16. On which of the following financial statements would you expect to find revenues and expenses?

17. On which of the following financial statements would you expect to find financing, operating, and investing activities?

18. On which of the following financial statements would you expect to find assets, liabilities, and stockholders’ equity?

19. Based on the following data, what is the amount of current assets?

20.What is the total amount of working capital?

21.What is the current ratio?

22.What is the earnings per share?

23.What is the debt to total assets?

24. In 2006 Fione Corporation had cash receipts of $14,000 and cash disbursements of $8,000. Their ending cash balance at December 31, 2006 was $22,000. What was their...
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