Acc 557 week 7 chapter 9 & 10 quiz (3 sets) (updated one)

Week 7 Quiz: Chapters 09 & 10



Multiple Choice Question 74


All of the subjoined factors in computing deterioration are reveres except







Multiple Choice Question 210


During 2013, Stein Corporation reputed allure sales of $3,500,000 and allure allowance of $2,100,000. Stein also reputed outset completion goods of $1,000,000 and bound completion goods of $1,500,000. Stein’s asset turnover aspect is






Multiple Choice Question 174


In January of the exoteric year, Allegro Co. purchased the Exbar Mine at a absorb of $25,000,000. The mine was revered to comprise 1,000,000 tons of the ore entertain a residual prize of $2,500,000 controlthcoming mining operations are completed. During the year, 315,000 tons of ore were removed from the mine. At year-end, the book prize of the mine is






Multiple Choice Question 66


Gagner Clinic purchases fix control $150,000 coin. The clinic assumes $1,500 in gear taxes ascribable on the fix. The inscription and attorney fees completioned $1,000. The clinic has the fix graded control $2,200. What totality does Gagner Clinic proceedings as the absorb control the fix?






Multiple Choice Question 139


Each of the subjoined is used in computing revised annual deterioration control a fluctuate in revere except






Multiple Choice Question 151


If a supply asset is sold anteriorly it is largely depreciated,






Multiple Choice Question 224


Depreciable absorb is the






Multiple Choice Question 124


Each of the subjoined is chasten touching fastenings except they are





Multiple Choice Question 78


On October 1, Steve’s Carpet Service borrows $250,000 from First National Bank on a 3-month, $250,000, 8% still n ess. The minute by Steve’s Carpet Service to proceedings acquittal of the still n ess and accrued curiosity-behalf on January 1 is













IFRS Multiple Choice Question 326


When exoteric liabilities are presented lower IFRS, they are generally shown





Multiple Choice Question 178


When fastenings are converted into beggarly supply,





Multiple Choice Question 130


Which of the subjoined is not an service of issuing fastenings instead of beggarly supply?





Multiple Choice Question 173


A $600,000 fastening was sole at 103 when the carrying prize of the fastening was $622,000. The minute to proceedings the concavity would grasp a




loss on fastening discharge of $12,000.



loss on fastening discharge of $18,000.


Multiple Choice Question 73


Admire County Bank agrees to advance Givens Brick Company $300,000 on January 1. Givens Brick Company signs a $300,000, 8%, 9-month still n ess. What is the adjusting minute required if Givens Brick Company prepares financial statements on June 30?


Curiosity-behalf Payable










Curiosity-behalf Payable




           Curiosity-behalf Expense









Multiple Choice Question 242

On the age of conclusion, Chudzick Corporation sells $5 pet of 5-year fastenings at 97. The minute to proceedings the sale obtain grasp the subjoined debits and credits:


Bonds Payable


Discount on Fastenings Payable



$5,000,000 Cr.


$1,250,000 Dr.





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