1.Dengel Inc. is working on its cash budget for November. The budgeted beginning cash balance is $24,000. Budgeted cash receipts total $177,000 and budgeted cash disbursements total $167,000. The desired ending cash balance is $50,000.
The excess (deficiency) of cash available over disbursements for November will be:
 A.$34,000
 B.$201,000
 C.$10,000
 D.$14,000

2.Sharp has $199,800 in notes payable due in July that must be repaid or renegotiated for a extension. Will the firm have ample cash to repay the notes? (Select from the drop-down menus)
____, The company ____ have enough money to pay the debt

3.You're attempting to determine the amount of usable floor space in your day care facility. Which one of the following areas can you include in your calculation? 
A. Kitchen for all classrooms
B. Bathroom adjacent to Classroom A
C. Hallway in the classroom area
D. Toy shelves in Classroom A

4.Borden Enterprises uses standard costing. For the month of April, the company reported the following data:
-Standard direct labor rate: $10 per hour
-Standard hours allowed for actual production: 8,000 hours
- Actual direct labor rate: $9.50 per hour
-Labor efficiency variance: $4,800 Favorable
The labor rate variance for April is:
 A.$3,760 U
B.$3,760 F
 C.$2,850 F
 D.$2,850 U

1. By not accruing warranty expense,
A. reported expenses will be overstated, and reported liabilities will be understated.
B. reported liabilities will be understated, and net income will be overstated.
C. reported liabilities will be overstated, and net income will be understated.
D. reported expenses will be understated, and net income will be understated.

2. A company receives a note payable for $3,500 at 9% for 45 days. How much interest (to the nearest cent) will the customer owe using a 360-day year?
A. $39.38
B. $315.00
C. $38.84
D. $354.38

3.Which of the following would be considered a contingent liability?
A. Accounts payable obligation
B. Pending legal action
C. Sales tax obligation
D. Mortgage obligation

4. Which of the following would be considered a cash equivalent?
A. Time deposits 
B. Money orders
C. Checks
D. Currency

1.Borden Enterprises uses standard costing. For the month of April, the company reported the following data:
-Standard direct labor rate: $10 per hour
-Standard hours allowed for actual production: 8,000 hours
- Actual direct labor rate: $9.50 per hour
-Labor efficiency variance: $4,800 Favorable
The labor rate variance for April is:
A. $3,760 U
B. $3,760 F
C. $2,850 F
D. $2,850

2.Mitchell Company had the following budgeted sales for the last half of last year:
Cash sales : July 50,000; August 55,000; September45,000; October 50,000; November 60,000; December 80,000
Credit Sales: july 150,000; August 170,000; September 130,000; October 145,000; November 200,000; December 350,000
The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled:
Collections on credit sales:
60% in month of sale
30% in month following sale
10% in second month following sale
Assume that the accounts receivable balance on July 1 was $75,000. Of this amount, $60,000 represented uncollected June sales and $15,000 represented uncollected May sales. Given these data, the total cash collected during July would be:
A. $150,000
B. $235,000
C. $215,000
D. $200,000

3.Dengel Inc. is working on its cash budget for November. The budgeted beginning cash balance is $24,000. Budgeted cash receipts total $177,000 and budgeted cash disbursements total $167,000. The desired ending cash balance is $50,000.
To attain its desired ending cash balance for November, the company needs to borrow:
A. $0
B. $16,000
C. $50,000
D. $84,000


4.Dengel Inc. is working on its cash budget for November. The budgeted beginning cash balance is $24,000. Budgeted cash receipts total $177,000 and budgeted cash disbursements total $167,000. The desired ending cash balance is $50,000.
The excess (deficiency) of cash available over disbursements for November will be:
A. $34,000
B. $201,000
C. $10,000
D. $14,000

1. (TCO 1) The DC or average voltage will do what when adding an additional capacitor in parallel? (Points : 4)
a. Increase
b. Decrease
c. Remain constant
d. Cannot be determined

2. (TCO 1) As the AC input voltage increases at the transformer primary, the secondary voltage will ______. (Points : 4)
a. decrease
b. increase
c. remain constant
d. The output will go to zero.

3. (TCO 1) As the load resistance increases, ______. (Points : 4)
a.  the ripple voltage will increase
b. the DC voltage will increase and the ripple voltage will decrease
c. the DC voltage will increase and the ripple voltage will increase
d. the DC voltage will decrease and the ripple voltage will decrease
e. the capacitor opposes a change in voltage so both the DC and the ripple will decrease

4. (TCO 2) If the coupling capacitor shorts out, ______. (Points : 4)
a. the DC voltages will be changed
b. the AC gain will change
c. the circuit will work better at higher frequencies

1. If the amount extracted from a coal mine was different every year for four years, you would
A. credit accumulated depletion—coal mine for the same amount each year.
B. use the same depletion expense rate per unit each year.
C. recomputed the depletion expense rate per unit each year.
D. debit depletion expense for the same amount each year.

2. If a $6,000, 10%, 10-year bond was issued at 104 on October 1, 2011, how much interest will accrue on December 31 if interest payments are made annually?
A. None
B. $150
C. $104
D. $500

3. Use the _______ principle to estimate warranty liabilities.
A. objectivity
B. entity
C. matching
D. conservatism

 

4. Which marketable securities are reported at cost on the balance sheet date?
A. Trading securities
B. Trading and held-to-maturity securities
C. Available-for-sale securities
D. Held-to-maturity securities.

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