Firebird
Princess Firebird..... Goddess of Swannie Fics
I am a Swan.
63 fics uploaded
Registration Date: 01-07-2002
Posts: 3689
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quote: | Originally posted by Transmute Jun
quote: | Originally posted by Firebird
lol want to share some of the questions TJ? |
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LOL, you are too funny! It's not that exciting, really. Let's see, some excerpts....
On December 23rd, 2008, Thaddeus Keane, Gateway Corp.s sole owner, purchased $1,800 of common stock in Gateway Corp. for cash. Record any necessary journal entry for Gateway Corp.
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Given the following information for 2007, calculate the total amount of ISO Corp.s extraordinary items to be reported on ISOs 2007 Income Statement. Be sure to state whether the total is a gain or a loss. All numbers are before tax. Tax rate = 20%
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This one was one of Springie's favourites:
State the type of opinion the auditor would give under each of the following (independent) situations.
a) Ken Industries has financial statements that present its accounting position fairly in all material respects.
b) Eagle Corp. has never had an audit but requires one this year for the purposes of obtaining a loan from City Bank. The auditors have not found any problems with this years financial data.
c) Mark Brothers lost all accounting data for the year when their computer systems crashed due to a virus. The data is unrecoverable.
d) Washio Group has had many disputes with the auditors over its financial statements. Management refuses to change any accounting numbers, even though many are materially misstated.
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Ace Company had $200,000 of accounts receivable on March 31st, 2007. Ace assumed that $50,000 of these receivables would not be collected; however no allowance had been set up for this amount. Ace needed extra cash and was contemplating different ways of obtaining the funds.
There are others of course, but this is a sampling..... Do you all want to be in my accounting classes now? |
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Although I am good at number crunching I am not sure i would be any good in your class because seeing this I would probably be giggling through the test
__________________
Like the Phoenix I rise from the fire. Beware all who try to tame me, you may get burned
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13-02-2008 11:18
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Hinotori
Babbling Loonie
I am an Eagle.
2 fics uploaded
Registration Date: 09-10-2007
Posts: 2004
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13-02-2008 11:50
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amyltrer
Gatchamaniac
I am an Egoblosser.
4 fics uploaded
Registration Date: 02-12-2006
Posts: 3986
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quote: | Originally posted by Transmute Jun
quote: | Originally posted by Firebird
lol want to share some of the questions TJ? |
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LOL, you are too funny! It's not that exciting, really. Let's see, some excerpts....
On December 23rd, 2008, Thaddeus Keane, Gateway Corp.s sole owner, purchased $1,800 of common stock in Gateway Corp. for cash. Record any necessary journal entry for Gateway Corp.
*****
Given the following information for 2007, calculate the total amount of ISO Corp.s extraordinary items to be reported on ISOs 2007 Income Statement. Be sure to state whether the total is a gain or a loss. All numbers are before tax. Tax rate = 20%
*****
This one was one of Springie's favourites:
State the type of opinion the auditor would give under each of the following (independent) situations.
a) Ken Industries has financial statements that present its accounting position fairly in all material respects.
b) Eagle Corp. has never had an audit but requires one this year for the purposes of obtaining a loan from City Bank. The auditors have not found any problems with this years financial data.
c) Mark Brothers lost all accounting data for the year when their computer systems crashed due to a virus. The data is unrecoverable.
d) Washio Group has had many disputes with the auditors over its financial statements. Management refuses to change any accounting numbers, even though many are materially misstated.
*****
Ace Company had $200,000 of accounts receivable on March 31st, 2007. Ace assumed that $50,000 of these receivables would not be collected; however no allowance had been set up for this amount. Ace needed extra cash and was contemplating different ways of obtaining the funds.
There are others of course, but this is a sampling..... Do you all want to be in my accounting classes now? |
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Tzk, tzk, the Eagle will always end up the debtor!
__________________
It is the tiny spark of humanity that adds blaze to a villain
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13-02-2008 15:05
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