A contract between the corporation issuing the bonds and the bondholders is...
What is a bond indenture?
100
Cash receipts from sales activities would be included in which cash flow section?
What is Operating Activities?
100
Calculation of dollar amount changes and percentage changes from the previous to the current year is what kind of analysis?
What is horizontal analysis?
100
Accounting designed to meet the needs of decision makers inside the business
What is managerial accounting?
100
Job order and process costing are...
What are cost accounting systems?
200
Alternative names for market interest rate and rate specified on the bond indenture
What is effective rate and contract rate?
200
The presentation order of the cash flow sections is...
What is Operating, Investing and Financing Activities?
200
Ratio used to evaluate a company's liquidity and short-term debt paying ability?
What is current ratio?
200
Cost of a manufactured product generally consists of the following
What is direct materials, direct labor and factory overhead?
200
What is the entry to record flow of direct labor costs into production in a job order cost accounting system?
What is debit WiP, credit Wages Payable?
300
If the market interest rate is 7%, and $500,000 bonds are paying semiannual interest at 6% the bond proceeds will be greater than or less than face?
What is DISCOUNTED bond with proceeds LESS than face.
300
Cash paid to purchase long-term investments is reported in what cash flow section?
What is Investing Activities section?
300
Formula for rate earned on total assets
What is (Net Income + Interest Expense)/Total Assets?
300
In order to be considered _________ it must be an integral art of the finished product and be a significant portion of the total product cost.
What is direct material classification?
300
Entry to record depreciation on FACTORY equipment in a job order cost system
What is debt FOH, credit Accum Depr - Equipment?
400
Amount of cash received when 9% $1,000,000 bonds issued at 102?
What is $1,020,000?
400
A ten-year bond issued at par for $250,000 cash should be shown in what section
What is Financing Activities section?
400
Formula to determine inventory turnover?
What is Cost of Goods Sold/Average Inventory?
400
What is the amount of raw materials used given the following data:
Materials Inventory, Beg $30,000
Materials Purchased 65,000
Materials Inventory, End 40,000
What is $55,000?
400
Record materials requisition in a job order cost system:
For production orders $153,700
For general factory use 2,700
What is
Work in Process 153,700
Factory Overhead 2,700
Materials 156,400
500
Bonds payable has a balance of $900,000 and Premium on BP has a balance of $10,000. What is the amount of gain or loss if the bond is redeemed at 103?
What is $17,000 loss?
500
Accounts receivable from sales were $51,000 at BOY and $64,000 at EOY. Net income for the year was $105,000. Determine the cash flow from operating activities to be reported.
What is number of days' sales in accounts receivable?
500
Determine CoGM for Southern Manufacturing records based on the following records:
Materials used $45,000
Direct labor cost 48,000
Factory Overhead 39,000
WiP, beginning 18,000
WiP, ending 28,000
What is $122,000?
(18 + 45 + 48 + 39 - 28)
500
If the amount of factory overhead cost incurred EXCEEDS amount applied, factory overhead account will have a...debit/credit and under/overapplied