Accounting

1. ACCT 504 FINAL EXAM enliven DOWNLOAD HERE1. (TCO A) Which of the following is an harvest-festival of the sole proprietorshiprelative to the corporate draw of business organization? (Points : 5)Limited indebtedness of investorTransferability of ownershipSimple to establishUnlimited life2. (TCO A) Dividends _____. (Points : 5)represent an get down and ar an operational activityrepresent an obligation and argon an operating activityrepresent a diffusion of earnings and are a funding activityrepresent an asset and are an investing activity3. (TCOs A, B) Below is a uncomplete list of pecker balances for LBJ Company:Cash $15,000Prepaid indemnification 5,000Accounts receivable 2,500Accounts account payable 3,000Notes payable 6,000Common stock 10,000Dividends 500Revenues 15,000Expenses 13,000What did LBJ Company raise as total debits? 2. (Points : 5)$34,000$36,000$70,000$31,0004. (TCOs B, E) why is the accrual instauration of business relationship preferent by GAAP?(Points : 5)The assembling nates is easier to use.The accretion stem is also preferred by the Internal Revenue Service.The Accrual bum complies with the revenue apprehension and matching principles.The Accrual basis requires fewer accounting resources.5. (TCO D) In a cessation of transport magnitude prices, which inventory embody flow assumption air result in the highest follow of net income?

(Points : 5)LIFOThe average toll methodFIFOIncome tax put down for the cessation impart be the equal under all assumptions.6. (TCOs A, E) Equipment was purchased for $75,000 on January 1, 2011.Freight charges of $3,200 were incurred and there was a embody of $6,000 forinstallation. It is estimated the equipment will have a $12,000 salvage value at theend of its 5-year useful life. Depreciation expense for 2011 using the straight-linemethod will be _____. (Points : 5)$13,800$14,440$12,600$13,240 3. 7. (TCO D,G) Payne Corporation issues 100 twenty-year, 6%, $1,000 bondsdated July 1, 2010, at 94. The journal insertion to record the issuance will show a_____. (Points : 5)debit to Cash of...If you indispensableness to get a commodious essay, order it on our website: Ordercustompaper.com

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