Accounting

"No additional cost" benefits are excluded from an employee's gross income if the ...

"No additional cost" benefits are excluded from an employee's gross income if the ...

"No additional cost" benefits are excluded from an employee's gross income if the services are the same type that are sold to customers and in the line of business in which the employee works.

Sheena Maskell   101   2 Replies

Sheena Maskell

"PR" in the general journal and general ledger stands for:

"PR" in the general journal and general ledger stands for:

"PR" in the general journal and general ledger stands for:
A) prior receipt.
B) posting reference.
C) per reviewer.
D) post review.

upton   271   1 Reply

keytwo

"Recorded payroll payments are for work actually performed by existing employees" is the ...

"Recorded payroll payments are for work actually performed by existing employees" is the ...

"Recorded payroll payments are for work actually performed by existing employees" is the control objective of
A) authorization.
B) completeness.
C) occurrence.
D) accuracy.

npeelman   71   2 Replies

npeelman

"Recorded payroll transactions are for the amount of time actually worked and at the proper ...

"Recorded payroll transactions are for the amount of time actually worked and at the proper ...

"Recorded payroll transactions are for the amount of time actually worked and at the proper pay rate; withholdings are properly calculated" relates to which control objective?
A) Authorization
B) Completeness
C) Existence

npeelman   89   1 Reply

charleshardt

"The comprehensive budget" is best described by which of the following terms?

"The comprehensive budget" is best described by which of the following terms?

"The comprehensive budget" is best described by which of the following terms?
A) Master budget
B) Operating budget
C) Responsibility center
D) Sensitivity analysis

bernie2981   615   1 Reply

nuclei

"The detailed instructions for the collection of a particular type of audit evidence" ...

"The detailed instructions for the collection of a particular type of audit evidence" ...

"The detailed instructions for the collection of a particular type of audit evidence" that is to be obtained at some time during the audit is the definition of a(n)
A) sampling plan.
B) audit procedure.
C) audit plan.
D)

eFishie   109   2 Replies

eFishie

"The detailed instructions for the entire collection of evidence for an audit area" is ...

"The detailed instructions for the entire collection of evidence for an audit area" is ...

"The detailed instructions for the entire collection of evidence for an audit area" is the definition of a(n)
A) sampling plan.
B) audit procedures.
C) audit plan.
D) audit program.

npeelman   139   1 Reply

victrox

"This is really confusing! I've sat in on three audit planning meetings so far, and each one ...

"This is really confusing! I've sat in on three audit planning meetings so far, and each one ...

"This is really confusing! I've sat in on three audit planning meetings so far, and each one has gone differently. I've been responsible for the sales section each time. Sure the risks are all different, but in the first one I'm s

Cadish   46   1 Reply

inthe80s

"Total cost of product or service" is best described as which of the following?

"Total cost of product or service" is best described as which of the following?

"Total cost of product or service" is best described as which of the following?
A) A factor that restricts production or sales of a product
B) All costs incurred along the value chain in connection with the product or service

bernie2981   556   2 Replies

bernie2981

"Use of comparisons and relationships to determine whether account balances or other data ...

"Use of comparisons and relationships to determine whether account balances or other data ...

"Use of comparisons and relationships to determine whether account balances or other data appear reasonable" is a definition of
A) auditing.
B) tests of balances.
C) tests of controls.
D) analytical procedures.

Cadish   67   1 Reply

inthe80s

"Working condition fringe benefits," such as memberships in professional organizations ...

"Working condition fringe benefits," such as memberships in professional organizations ...

"Working condition fringe benefits," such as memberships in professional organizations paid for by the employer, are generally excluded from the employee's gross income.

Augustus1   105   2 Replies

Augustus1

'Managers should be wary of using the same unitized fixed overhead costs for planning and control pu

'Managers should be wary of using the same unitized fixed overhead costs for planning and control pu

'Managers should be wary of using the same unitized fixed overhead costs for planning and control purposes'. Do you agree with this argument? Give reasons for your answer.

jerico   253   3 Replies

cyborg

(Accounting for donations and donor-restricted and board-designated resources)

(Accounting for donations and donor-restricted and board-designated resources)

(Accounting for donations and donor-restricted and board-designated resources)

A not-for-profit hospital uses the following funds to account internally for its resources: General Fund (GF); Specific Purpose Funds (SPF); Plant Replacement a

goji.go   347   3 Replies

f_zah1

(Analyzing a governmental entity's financial statements) The following data com

(Analyzing a governmental entity's financial statements) The following data com

(Analyzing a governmental entity's financial statements)

The following data comes from the 2013 financial statements of the Village of Matthews. Although presented in summarized format, the balance sheet debits and credits are equal a

goji.go   280   3 Replies

f_zah1

(Analyzing and assessing the implications of a government's account balances) F

(Analyzing and assessing the implications of a government's account balances) F

(Analyzing and assessing the implications of a government's account balances)

Following is a pre-closing trial balance of a village's General Fund at December 31, 2013. The amount shown as Fund balance (unassigned) has not change

goji.go   253   3 Replies

f_zah1

(Annuity FV Table Required) Jennifer recently earned a degree in accounting and her first employment

(Annuity FV Table Required) Jennifer recently earned a degree in accounting and her first employment

(Annuity FV Table Required) Jennifer recently earned a degree in accounting and her first employment opportunity is an accountant at a major corporation. The 401K portion of her employment package has a personal investment cap at 20% of her salary an

bernie2981   439   2 Replies

bernie2981

(Assessment of a hospital's accounts receivable collection efficiency) Assess P

(Assessment of a hospital's accounts receivable collection efficiency) Assess P

(Assessment of a hospital's accounts receivable collection efficiency)

Assess Plains Regional Hospital's accounts receivable collection efficiency based on the following set of facts:
      a.   Days' revenue in patient accou

goji.go   300   3 Replies

f_zah1

(Basic journal entries for acquisition of capital assets through issuance of deb

(Basic journal entries for acquisition of capital assets through issuance of deb

(Basic journal entries for acquisition of capital assets through issuance of debt)

Prepare entries to record the following transactions related to acquisition of capital assets by a county. The county does not use encumbrance accounting. I

goji.go   236   3 Replies

f_zah1

(Classification of resource inflows in Fund operating statements) A county's De

(Classification of resource inflows in Fund operating statements) A county's De

(Classification of resource inflows in Fund operating statements)

A county's Debt Service and Capital Projects Funds had the following resource inflows during 2013. State whether each of the inflows should be reported as revenues or a

goji.go   235   3 Replies

f_zah1

(Computation of a governmental entity's debt and debt service burdens) The foll

(Computation of a governmental entity's debt and debt service burdens) The foll

(Computation of a governmental entity's debt and debt service burdens)

The following data is extracted from the general and debt service columns of the Town of Gold Hill's governmental funds statement of revenues, expenditures, a

goji.go   314   3 Replies

f_zah1

(Computation of net investment in capital assets) The following information is

(Computation of net investment in capital assets) The following information is

(Computation of net investment in capital assets)

The following information is taken from the financial statements of Corwin Water District 2, an Enterprise Fund. The revenue bonds were issued to construct water mains.  Based on thes

goji.go   302   3 Replies

f_zah1

(Conceptual problem regarding the use of Proprietary Funds) State whether the

(Conceptual problem regarding the use of Proprietary Funds) State whether the

(Conceptual problem regarding the use of Proprietary Funds)

State whether the following are true or false. For the false items, explain why they are false.
      a.   Enterprise Funds are used only when all services are provided to non-gov

goji.go   222   3 Replies

f_zah1

(Development of billing rate for an Internal Service Fund) The City of Casa Cor

(Development of billing rate for an Internal Service Fund) The City of Casa Cor

(Development of billing rate for an Internal Service Fund)

The City of Casa Cortez uses an Internal Service Fund (ISF) to provide centralized printing services for all City agencies. City agencies are billed on a per-page basis (number of

goji.go   297   3 Replies

f_zah1

(Discussion problem - contributions to collections) Art on Wheels is a newly-fo

(Discussion problem - contributions to collections) Art on Wheels is a newly-fo

(Discussion problem - contributions to collections)

Art on Wheels is a newly-formed not-for-profit corporation. Its purpose is to promulgate public appreciation of 19th century American artists. It plans to solicit works of art from donors

goji.go   380   3 Replies

f_zah1

(Discussion problem on entity and GAAP hierarchy) A large private bus company i

(Discussion problem on entity and GAAP hierarchy) A large private bus company i

(Discussion problem on entity and GAAP hierarchy)

A large private bus company in Empire City went bankrupt. At Empire City's request, the  state legislature established a legally separate public benefit corporation named Metro Ci

goji.go   511   3 Replies

f_zah1

(Discussion problem on fund accounting) Discuss the nature and purpose of "fun

(Discussion problem on fund accounting) Discuss the nature and purpose of "fun

(Discussion problem on fund accounting)   

Discuss the nature and purpose of "fund accounting."

goji.go   255   3 Replies

f_zah1

(Distinguishing among the three net asset classifications) Assume that Andy Kel

(Distinguishing among the three net asset classifications) Assume that Andy Kel

(Distinguishing among the three net asset classifications)

Assume that Andy Kelly Hospital (Problem 44) is a not-for-profit hospital. For each of the six transactions or events shown in that problem, state which of the three net asset clas

goji.go   317   3 Replies

f_zah1

(Entries to prepare government-wide financial statements - revenue and expense a

(Entries to prepare government-wide financial statements - revenue and expense a

(Entries to prepare government-wide financial statements - revenue and expense accruals)

For the following situations, make adjusting entries necessary to prepare government-wide financial statements. Where appropriate, take account of the

goji.go   293   3 Replies

f_zah1

(Entries to prepare government-wide statements - property tax revenue deferral)

(Entries to prepare government-wide statements - property tax revenue deferral)

(Entries to prepare government-wide statements - property tax revenue deferral)

When it prepared its financial statements for calendar year 2012, Watson Town assumed that it would collect all unpaid property taxes during the first 60 days

goji.go   198   3 Replies

f_zah1

(Financial statement analysis of a governmental enterprise hospital) Following

(Financial statement analysis of a governmental enterprise hospital) Following

(Financial statement analysis of a governmental enterprise hospital)

Following is a trial balance (with 000 omitted for simplification) showing the accounts of Beta Hospital at December 31, 2013. Using the information from the trial balanc

goji.go   400   3 Replies

f_zah1

(Future Value Table Required) An accounting student in her first year of college who is working on a

(Future Value Table Required) An accounting student in her first year of college who is working on a

(Future Value Table Required) An accounting student in her first year of college who is working on a 4-year degree receives from her parents $200 in her first year. As an incentive to encourage her to graduate, they promise that in the second year sh

bernie2981   249   2 Replies

bernie2981

(Identifying the net asset classifications and funds used for transactions by NF

(Identifying the net asset classifications and funds used for transactions by NF

(Identifying the net asset classifications and funds used for transactions by NFP colleges)

The following transactions occurred at a not-for-profit university. For each transactions, state the appropriate net asset classification and the f

goji.go   236   3 Replies

f_zah1

(Ignore income taxes in this problem.) Bradley Corporation's required rate of return is 14%. The ...

(Ignore income taxes in this problem.) Bradley Corporation's required rate of return is 14%. The ...

[html](Ignore income taxes in this problem.) Bradley Corporation's required rate of return is 14%. The company has an opportunity to be the exclusive distributor of a very popular consumer item. No new equipment would be needed, but the company wo

AsadQ1   56   1 Reply

marlboroman

(Journal entries - property tax accounting) Prepare entries to record the follo

(Journal entries - property tax accounting) Prepare entries to record the follo

(Journal entries - property tax accounting)

Prepare entries to record the following transactions and events related to Dominguez County's property taxes for the year beginning January 1, 2013:

      a.   To raise property tax rev

goji.go   724   3 Replies

f_zah1

(Journal entries - set of transactions regarding contracts) The Federal Bureau

(Journal entries - set of transactions regarding contracts) The Federal Bureau

(Journal entries - set of transactions regarding contracts)

The Federal Bureau of Building Construction (BBC) receives an annual appropriation to perform construction activities. BBC does not use commitment accounting; instead, it obligate

goji.go   336   3 Replies

f_zah1

(Journal entries - set of transactions) The Federal Bureau of Nutrition Standar

(Journal entries - set of transactions) The Federal Bureau of Nutrition Standar

(Journal entries - set of transactions)

The Federal Bureau of Nutrition Standards (BNS), a unit of the Health Department, is responsible for establishing standards for the quality and nutritional content of packaged food products. Prepare

goji.go   416   3 Replies

f_zah1

(Journal entries for a hospital's General Fund) Lucas Community Hospital is a n

(Journal entries for a hospital's General Fund) Lucas Community Hospital is a n

(Journal entries for a hospital's General Fund)

Lucas Community Hospital is a not-for-profit hospital. Prepare journal entries to record the following transactions and events in the Hospital's General Fund.
      a.   Third-partie

goji.go   385   3 Replies

f_zah1

(Journal entries for a Pension Trust Fund) Moody Village maintains a Pension Tr

(Journal entries for a Pension Trust Fund) Moody Village maintains a Pension Tr

(Journal entries for a Pension Trust Fund)

Moody Village maintains a Pension Trust Fund for its employees. At the start of the year, the Fund holds cash of $150,000 and investments that have a fair value of $4,000,000. The Fund has the fol

goji.go   835   3 Replies

f_zah1

(Journal Entries for an Investment Trust Fund) Smith County operates an externa

(Journal Entries for an Investment Trust Fund) Smith County operates an externa

(Journal Entries for an Investment Trust Fund)

Smith County operates an external investment pool, which invests idle cash on behalf of school districts within the county. Prepare journal entries to record the following transactions.

goji.go   408   3 Replies

f_zah1

(Journal entries for patient service revenues; computation of net patient servic

(Journal entries for patient service revenues; computation of net patient servic

(Journal entries for patient service revenues; computation of net patient service revenue)

Prepare journal entries to account for the following transactions for Cort Hospital. Also, compute the net service revenue to be reported in the Hos

goji.go   357   3 Replies

f_zah1