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Basic Accounting _ 20 MCQs

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November 19, 2014 / Leave a comment

1. Find the net price of a computer that lists for $510 if a discount rate of 40% is offered.
Q: the net price of the computer is

2. Calculate the net price for 60 boxes of computer paper if the unit price is 12.67 and a single trade discount rate of 30% is allowed.
Q: the net price is

3. One manufacturer needs to calculate the net price of an order with a list of $600 and a trade discount series of 12/7/6. Use the net decimal equivalent to find the net price.
Q: the net price is
Round to the nearest cent

4. One distributor lists ink- jet printers with 360 dpi and six scalable fonts that can print envelopes, labels, and transparencies for $186.27 with a trade discount series of 10/10/20. Another distributor lists the same brand and model printer at $223 with a trade discount series of10/20/20.

Q: which is the better deal? $186.27 or $223

5. One distributor lists a printer at $440 with a trade discount series of 14/11/5. Another distributor lists the same printer at $430 with a trade discount series of 10/10/5.
Q: What is the better deal? $440 or $430

6. A man gets an invoice for $410 with terms 3/10, 1/15, n/30. How much would he pay 7 days after the invoice date?
Q: The net amount is
Round to the nearest cent

7. A director of accounts received a bill for $644, dated April 6, with sales terms 2/10,1/15, n/30. What amount is due if the bill is paid on or between April 17 and April 21?
Q: the net amount is
Round to the nearest cent

8. A man is an accounts payable officer for his company and must calculate cash discounts before paying invoices. He is paying bills onJune 18 and has an invoice dated June 12 with terms 4/10, n/30. If the net price of the invoice is $1,296.72, what is the net amount the man will need to pay?
Q: the net amount is
Round to the nearest cent

9. An invoice for $910 is dated October 15 and has sales terms of 2/9 ROG. The merchandise arrives Oct 20. How much is due if the bill is paid November 2?
Q: the net amount is

10. A man has an invoice for a complete computer system for $3912.84. The invoice shows terms of 3/10, 2/15, n/30. He can afford to pay $2,500 within 10 days of the date on the invoice and the remainder within the 30 day period. How much should be credited to the account for the $2,500 payment, and how much is due?
Q: the amount credited to the account for the $2500 payment is
Round to the nearest cent

11. Cost = $75; markup =$40. Find the selling price

12. Cost = $90, selling price = $216
a) find the markup
b) find the rate of markup based on cost
Q: the markup is

13. Belts costs $4 and sell with a markup of $2.22. find the selling price of the belts.
Q: the selling price is

14. A lamp costs $24 and is marked up based on cost. If the lamp sold for $54, what was the percent of the markup?
Q: the rate of markup is

15. Battery powered massagers cost $8.50 if they purchased in lots of 36 or more. The gift horse shoppe purchased 48 and sells them at 45% markup based on cost.
Q: Find the selling price of each
The selling price is $
Round to the nearest cent

16. Cost=$48; selling price = $60. Find the rate of markup based on the selling price.
Q: the rate of markup is

17. An item is marked up $10. The markup rate based ok selling price is 69%.
a) find the selling price
b) find the cost
Round to the nearest cent – the selling price is

18. An item sells for $64 and is reduced to sell for $24. Find the markdown amount and the rate of markdown.
Q: the markdown amount is $

19. Selling price= $950; reduced ( New) price = $550. Find the markdown amount and the rate of markdown.
q: the markdown amount is

20. An item sells for $5290 and costs $3530. What is the rate of markup based on selling price? Round to the nearest tenth of a percent.

The rate of markup based on selling price is ____% – round to the nearest 10th

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Are there any differences between public and private sector planning? Why is

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November 19, 2014 / Leave a comment

Are there any differences between public and private sector planning? Why is broad public involvement important to the public planning process?

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Cash disbursement budget

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A company has operationalexpenses of the following

Jan – 250,000

Feb – 350,000

Mar – 275,000

Apr – 250,000

May – $225,000

They pay 60% with cash the month it is incurred. They pay for the rest on credit of which they pay 75% the month after it is incurred and 25% two months after. They also have depreciation in their operational expenses of $10,000 a month, and have a cash disbursement for an annual intrest payment of $50,000 in February. Construct a cash disbursement budget for March – May only.

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What can public administrators learn from private sector management and

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November 19, 2014 / Leave a comment

1. What can public administrators learn from private sector management and can the private sector learn from public?

Fredonia Inc. Breakeven Analysis

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Fredonia Inc. had a bad year in 2013. For the first time in its history, it operated at a loss….

Fredonia Inc. had a bad year in 2013. For the first time in its history, it operated at a loss. The company’s income statement showed the following results from selling 78,000 units of product: Net sales $1,536,600; total costs and expenses $1,740,200; and net loss $203,600. Costs and expenses consisted of the following.

Total Variable Fixed
Cost of goods sold $1,202,800 $780,600 $422,200
Selling expenses 423,500 78,900 344,600
Administrative expenses 113,900 52,700 61,200
$1,740,200 $912,200 $828,000

Management is considering the following independent alternatives for 2014.

1. Increase unit selling price 29% with no change in costs and expenses.
2. Change the compensation of salespersons from fixed annual salaries totaling $203,800 to total salaries of $43,200 plus a 5% commission on net sales.
3. Purchase new high-tech factory machinery that will change the proportion between variable and fixed cost of goods sold to 50:50.

(a) Compute the break-even point in dollars for 2014. (Round contribution margin ratio to 4 decimal places e.g. 0.2512 and final answers to 0 decimal places, e.g. 2,510.)

Break-even point $2038950

(b) Compute the break-even point in dollars under each of the alternative courses of action. (Round contribution margin ratio to 4 decimal places e.g. 0.2512 and final answers to 0 decimal places, e.g. 2,510.)

Break-even point
1. Increase selling price $2629935
2. Change compensation $
3. Purchase machinery $

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You have been asked to return to your alma mater and speak about performance management issues. To make the most of this experience for

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November 19, 2014 / Leave a comment

You have been asked to return to your alma mater and speak about performance management issues. To make the most of this experience for yourself and the students, write a 2-3 page paper that details the following: the concept of “performance management”; the most prominent types of performance management plans; its impact on an employee and the organization; and the relationship between performance management and compensation.

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MAT 540 ASSIGNMENT 2

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November 19, 2014 / Leave a comment

Assignment #2: Internet Field Trip Research: Research at least six (6) information sources on forecasting methods; take notes and record and interpret significant facts, meaningful graphics, accurate sounds and evaluated alternative points of view. Preparation: Produce as storyboard with thumbnails of at least ten (10) slides. Include the following elements: Title of slide, text, background color, placement & size of graphic, fonts – color, size, type for text and headings Hyperlinks (list URLs of any site linked from the slide), narration text, and audio files (if any) Number on slides clear Logical sequence to the presentation Content: Provide written content with the following elements: introduction that presents the overall topic (clear sense of the project’s main idea) and draws the audience into the presentation with compelling questions or by relating to the audience’s interests or goals. accurate, current clear, concise, and shows logical progression of ideas and supporting information motivating questions and advanced organizers drawn mainly from primary sources Text Elements: Slides should have the following characteristics: fonts are easy-to-read; point size that varies appropriately for headings and text italics, bold, and indentations enhance readability background and colors enhance the readability of text appropriate in length for the target audience; to the point Layout: The layout should have the following characteristics: visually pleasing contributes to the overall message appropriate use of headings, subheadings and white space Media: The graphics, sound, and/or animation should assist in presenting an overall theme and enhance understanding of concept, ideas and relationships have original images that are created using proper size and resolution; enhance the content have a consistent visual theme. Citations: The sources of information should: properly cited so that the audience can determine the credibility and authority of the information presented be properly formatted according to APA style

Analyze the relationship between productive and counterproductive behavior in organizations, including the following items:

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November 19, 2014 / Leave a comment

Analyze the relationship between productive and counterproductive behavior in organizations, including the following items:
–Define productive and counterproductive behavior
–Describe the impact that productive and counterproductive behaviors have on job performance and the overall performance of an organization
–Recommend strategies to increase productive behavior and decrease counterproductive behavior in organizations

Please provide references as well.

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Compare and contrast asset and guest security for a fine art gallery

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November 19, 2014 / Leave a comment

Compare and contrast asset and guest security for a fine art gallery
o Identify priorities of each security type
o Describe different measures each type may use to protect assets and guests.
o How would differences between asset and guest security be manifested in the risk management program?

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Do you think that it would always require a monetary settlement with

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November 19, 2014 / Leave a comment

Do you think that it would always require a monetary settlement with the employee or could there be another option?

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