Test Exam

Test e BACC 2103 FINANCIAL ACCOUNTING FALL 2007 trial run I VERSION A Solutions break dance I (16 points) 1. d5. c 2. a6. a 3. b7. d 4. d8. a Part II (18 points) Childrens Place 1.(1 point) The income statement explanations the results of operations (as of a accredited date / over a stop consonant of time). 2.Fill in the correct titles for A and B on the Income Statement: 4 points A = _____Gross Profit_____________ B = _____Operating Income or Income from Operations_____ 3.(2 points) Net sales is report in the year (cash was received / revenue was earned). 4.(4 points) From 1/31/2004 to 1/28/2006, net sales increased by __109.13___% eyepatch net income increased by _188.86___%, which indicates expenses (were / were not) kept chthonic control. 5.a.(1 point) constitute of Goods Sold is a(n) ( revenue / expense / asset / obligation ) account. b.(2 points) The measuring stick reported for co urt of Goods Sold is direct by the (revenue science / matching / historical cost / conservatism) formula of GAAP. c.(2 points) What types of be would Childrens Place include within Cost of Goods Sold? The costs of manufacturing the clothing including raw materials, labor and overhead. 6. (2 points) The Income Taxes listed on the Income Statement represents the ( assess expense / cash paid for taxes ) in the genuine year. Part III (18 points) The Gymboree Corporation 1.(1 point) The balance shroud reports the financial position of a federation (as of a certain(p) date / over a period of time). 2.(2 points) The amount that the company expects to receive from customers in the next fewer months is $____12,027_______ thousand. 3.(2 points) Deferred Rent & new(prenominal) Liabilities is classified as a ( current / long-term ) liability. 4.(2 points) The intact amount shareholders have paid for shares of transmit since Gymboree started business is $_______92,317_! ____ thousand. 5.(4 points) The cumulative...If you pauperism to get a full essay, allege it on our website: OrderCustomPaper.com

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