Best writers. Best papers. Let professionals take care of your academic papers

Order a similar paper and get 15% discount on your first order with us
Use the following coupon "FIRST15"
ORDER NOW

Will the income statement include the profits or losses from the purchase and sale of treasury stock? Yes or No? Include an example of a journal entry to purchase treasury stock.

/in /by

Name: __________________________  Date: _____________

You must complete answer all questions – be a very careful reader

5 Questions:  5 essays; 
 Ch  14 15 16 17  …

please try to complete the quiz in one setting
Save the exam file as a word document with your name in the file name and Quiz 3 such as   Robert_Half_Quiz_3

UMUC – ACCT 301 Due Monday March 1, 2015
This quiz is to be completed without the assistance of any other person.

You may use only the resources provided by your instructor for this class.

** Save this file and include your name in the file name: Robert_Half_Quiz_3

 

You may create an Excel and / or Word File for your work. Please verify that each page prints out formatted with your name and page number on the page. Excel files should show gridlines.

Excel ‘page format’ has options for grid lines (sheet) and headers/footers.

At a minimum, use print preview so you can see how the work will print out.

I pledge on my honor that I have not given or received any unauthorized assistance on this examination.  In addition, I pledge that I will not disclose to, or discuss the contents of this examination with, students who have not taken it.

­­­­­­­­­­­­­­­­­­­­­­­_________________________________________________________________________

Signed

Good Luck!!!
Answer all questions!
Prepare and present calculations for partial credits for questions with calculations and presentations.

Quiz 3 Ch 14 15 16 17       –  Your Name ____________________ (also include your name in the file name)

Q1

Will the income statement include the profits or losses from the purchase and sale of treasury stock?  Yes or No? Include an example of a journal entry to purchase treasury stock. 

Q2

Explain the effect on Cash Received and Interest Expense Recognized when

  1. Bonds are issued at Face Value
  2. Bonds are issued at a discount
  3. Bonds are issued at a premium

(Hint: your answer for each independent situation [A, B, and C] should include the phrases “Credit to Bonds Payable” and “Contract Interest Rate”)

Q3

The text describes two different methods for accounting for investments in common stock.  Describe each of the methods and the situations in which each method would be employed.  Why are the investments accounted for differently?


Q4

Explain the relationship between the balance sheet, the income statement, and the statement of cash flows using the indirect method. That is, how do you prepare a statement of cash flows using the indirect method?  Don’t use numbers but explain the mathematical calculations and line items.

Q5

What do we learn by using the vertical analysis process for a company when analyzing the income statement and the balance sheet?  That is, how would you explain to someone what you learn about a company by completing a vertical analysis of their SEC 10K income statement and balance sheet?

 
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"