Acct 212 - Study guides, Class notes & Summaries

ACCT 212 Final Exam-Liberty University With Complete Solutions

1. Question: Golden Eagle Company prepares monthly financial statements for its bank. The November 30 adjusted trial balance includes the following account information: …….. The following informat ion is known for the month of December: 1. Purchases of supplies during December total $4,500. Supplies on hand at the end of December equal $3,500. 2. No insurance payments are made in December. Insurance cost is $2,000 per month. 3. November salaries payable of $11,000 were paid to employees in D...

Acct 212

what is not needed for a DL budget - ANS Material pricer per pound of material three most common tools of financial analysis - ANS horizontal analysis, vertical analysis, ration analysis what is a budget that is periodically revised and new periods added to replace those that have lapsed - ANS rolling budget current assets - current liabilities = - ANS working capital rate yields a net present value of zero for an investment - ANS internal rate of return when calculating...

ACCT 212 Week 4 Midterm Exam2025 (Answered 100%)

ACCT 212 Week 4 Midterm Exam 2025 Graded A+ With Rationale

Clothing frontier engages in the following transactions -Jan 1 -> issues 600 shares of common stock for $40 a share -April 1 -> Issues 100 additional of common stock for $44 a share Record the transactions assuming clothing frontiers has NO-PAR value common stock Jan 1. Cash............. 24,000 .......Common Stock..........24,000 April 1. Cash. 4,400 ......Common stock 4,400

If the factory overhead is overapplied, then: (Check all that apply.) applied overhead costs > actual overhead costs. the Factory Overhead account has a credit balance. Match the following activities to their effect on the general ledger accounts. Allocate indirect labor - Credit Factory Wages Payable Pay factory property tax - Debit Factory Overhead Purchase materials - Debit Raw Materials Inventory Use direct materials - Credit Raw Materials Inventory Complete job - De...

Activity-Based Costing (ABC) - ANS A two-stage costing method in which overhead costs are assigned to products on the basis of the activities they require. Activity - ANS An event that causes the consumption of overhead resources. Activity Cost Pool - ANS A "bucket" in which costs are accumulated that relate to a single activity measure in an activity-based costing system. Activity Measure - ANS An allocation base in an activity-based costing system: ideally, a measure of ...

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