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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 ACCOUNTING 101A SECTION 10915 FALL SEMESTER 2013 1. 3 PTS. 2. 3. 4. 5. 6. 7. 8. 9. 4 PTS. 10. 6 PTS. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. a. b. c. What are the two “timing differences” which occur when preparing a bank reconciliation? from $15,000 to $18,000. In the other income secion of the income statement was a gain on the sale of land in the amount of $30,000. A company shows a net income for 2012 of $100,000. Included in its operating expenses is depreciation on equipment in the 5 PTS. FINAL EXAMINATION-CHAPTERS 7-13 amount of $8,000. During the year its accounts receivable balance went from $25,000 to $30,000. Its accounts payable balance went its credit sales for 2012? $_____________________________________________________ Indicate how each of the following situations would be handled when preparing a bank reconcilation? ______ An NSF check from a customer ______ A check written for $4,500 which has not yet been paid by the bank ______ A deposit in transit in the amount of $2,000 It takes a company on average 45 days to collect its accounts receivable. Based on this what would be the company’s accounts receivable turnover? Which depreciation method presented in Chapter 9 is not based on the “passage of time?” Name two types of payroll taxes which employers’ must pay and treat as expenses? d. e. f. g. h. i. j. Indicate what each of the following financial analyis ratios/calculations measures? On 1-1-12 a company issued $500,000 of bonds at a price of 97. The bonds pay interest semiannually on 1-1 and 7-1 and will mature on 12-31-2022. A company sold $250,000 of merchandise to customers on account in 2012. It began the year with $20,000 in accounts receivable and it ended the Price Earnings Ratio equals _______________________________ divided by EPS was placed in service on 7-1-12 and has a $5,000 salvage value…