Acc 561 final exam 3 - Study guides, Class notes & Summaries
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ACC 561 FINAL EXAM 3
- Exam (elaborations) • 3 pages • 2022
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ACC 561 FINAL EXAM 3
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ACC 561 FINAL EXAM 4
- Exam (elaborations) • 7 pages • 2022
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ACC 561 FINAL EXAM 4 
 
1.	Question 1 
The entry to record the acquisition of raw materials on account is: 
Correct 
(B) Raw Materials Inventory&... 
2.	Question 2 
Which of the following statements concerning users of accounting information is incorrect? 
Correct 
(D) Regulatory authorities ... 
3.	Question 3 
The Mac Company has four plants nationwide that cost $350 million. The current fair value of the plants is $300 million. The plants will be reported as assets at: 
Correct 
(A) $350 milli...
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ACC 561 FINAL EXAM 1
- Exam (elaborations) • 7 pages • 2022
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ACC 561 FINAL EXAM 1 
 
1.	Question 1 
The entry to record the acquisition of raw materials on account is: 
Correct 
(B) Raw Materials Inventory&... 
2.	Question 2 
Which of the following statements concerning users of accounting information is incorrect? 
Correct 
(D) Regulatory authorities ... 
3.	Question 3 
The Mac Company has four plants nationwide that cost $350 million. The current fair value of the plants is $300 million. The plants will be reported as assets at: 
Correct 
(A) $350 milli...
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ACC 561 FINAL EXAM 4
- Exam (elaborations) • 7 pages • 2022
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- $15.39
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ACC 561 FINAL EXAM 4 
 
1.	Question 1 
The entry to record the acquisition of raw materials on account is: 
Correct 
(B) Raw Materials Inventory&... 
2.	Question 2 
Which of the following statements concerning users of accounting information is incorrect? 
Correct 
(D) Regulatory authorities ... 
3.	Question 3 
The Mac Company has four plants nationwide that cost $350 million. The current fair value of the plants is $300 million. The plants will be reported as assets at: 
Correct 
(A) $350 milli...
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ACC 561 FINAL EXAM 3
- Exam (elaborations) • 3 pages • 2022
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ACC 561 FINAL EXAM 3
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ACC 561 FINAL EXAM 2
- Exam (elaborations) • 4 pages • 2022
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ACC 561 FINAL EXAM 2 
 
1.	Danner Corporation reported net sales of $650,000, $720,000, and $780,000 in the years 2016, 2017, and 2018, respectively. If 2016 is the base year, what percentage do 2018 sales represent of the base? 
a. 2018 net sales / base year 2016 net sales = 780,000 / 650,000 = 1.2 
1.2 x 100% = 120% 
The answer is 120% 
 
2.	Ben Gordon, Inc. manufactures 2 products, wheels and seats. The company has estimated its overhead in the assembling department to be $660,000. The compan...
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STR 581 Week 4 Capstone Final Exam Part 2
- Exam (elaborations) • 10 pages • 2022
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STR 581 Week 4 Capstone Final 
Exam Part 2 
1. Complete the Capstone Final Examination, Part 2. You are allowed one attempt to complete the examination, 
which is timed and must be completed in 3 hours. Results are auto-graded and sent to your instructor. 
Resources: Course Materials from ACC/561 and FIN/571, Capstone Exam Review 
Note: The automated final exam was designed in Google Chrome and is best viewed in the latest version of the 
browser. If you do not use the latest version of Googl...
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ACC 561 Final Exam 3 with Answers (VERIFIED)
- Exam (elaborations) • 9 pages • 2021
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1. Henson Company began the year with retained earnings of $380,000. During the year, the company recorded revenues of $500,000, expenses of $380,000, and paid dividends of $40,000. What was Henson’s retained earnings at the end of the year? 
2. In performing a vertical analysis, the base for sales revenues on the income statement is: 
3. Kimble Company applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under- or over-application of overh...
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ACC 561 FINAL EXAM 1
- Exam (elaborations) • 4 pages • 2022
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ACC 561 FINAL EXAM 11.	Danner Corporation reported net sales of $650,000, $720,000, and $780,000 in the years 2016, 2017, and 2018, respectively. If 2016 is the base year, what percentage do 2018 sales represent of the base? 
a. 2018 net sales / base year 2016 net sales = 780,000 / 650,000 = 1.2 
1.2 x 100% = 120% 
The answer is 120% 
 
2.	Ben Gordon, Inc. manufactures 2 products, wheels and seats. The company has estimated its overhead in the assembling department to be $660,000. The company pr...
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ACC 561 FINAL EXAM 1
- Exam (elaborations) • 4 pages • 2022
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- $10.49
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ACC 561 FINAL EXAM 1 
1.	Danner Corporation reported net sales of $650,000, $720,000, and $780,000 in the years 2016, 2017, and 2018, respectively. If 2016 is the base year, what percentage do 2018 sales represent of the base? 
a. 2018 net sales / base year 2016 net sales = 780,000 / 650,000 = 1.2 
1.2 x 100% = 120% 
The answer is 120% 
 
2.	Ben Gordon, Inc. manufactures 2 products, wheels and seats. The company has estimated its overhead in the assembling department to be $660,000. The company ...
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