Principles of Accounting II Exam 2 Study Guide
Principles of Accounting II Exam 2 Study Guide ACC 03211 - 2
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This 2 page Study Guide was uploaded by Nicole Rossi on Sunday April 3, 2016. The Study Guide belongs to ACC 03211 - 2 at Rowan University taught by Mei Zhang in Spring 2016. Since its upload, it has received 71 views. For similar materials see Principles of Accounting II in Accounting at Rowan University.
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Date Created: 04/03/16
Principles of Accounting II Study Guide for Exam 2 This exam is on Chapters 17, 18, 19, 20 Chapters 17, 18, and 20 have a problem for them. Chapter 19 will be covered in the multiple choice. Chapter 17 : Classifications: o Operating (I/S items, dividend revenue, interest revenue, interest expense) o Financing: are transactions with creditors or investors used to fund either company operations or expansions o Investing: reports the aggregate change in a company's cash position resulting from any gains (or losses) from investments in the financial markets and operating subsidiaries, and changes resulting from amounts spent on investments in capital assets ... Indirect Method: o Operating: start with base year depreciation expense (+) Loss or Gain (+/) Changes in current assets/liabilities (opposite/same) o Investing: changes in investments o Financing: changes in long term liabilities and equity o Noncash activities NOT included Chapter 18: Horizontal Analysis: o changes over a period of time Vertical Analysis: o B/S: Total Assets as the base o I/S: Net Sales is the base Ratio Analysis: o Liquidity Ratios: Current Ratio: Current Assets/Current Liabilites o Profitability Ratios: Profit Margin Ratio: Net Income/ Net Sales Asset Turnover: Net Sales / Net Assets Return on Assets: Net Income/ Total Assets Earnings per Share: (Net IncomeDividends on Preferred Stock)/ (Avg Outstanding Shares) o Solvency Ratios: Debt to Asset Ratios: total debt/total assets Chapter 19: Managerial vs. Financial Accounting: o Managerial: internal o Financial: external Manufacturing Costs: o direct material o direct labor o manufacturing overhead Product vs. period costs: o product: manufacturing costs’ o period: nonmanufacturing Chapter 20: The Cost of a Job: o direct materials (material requisition slip) o direct labor (time tickets) o manufacturing overhead assigned Estimated Annual Overhead Costs/ Expected Annual Operating Activities=Predetermined Overhead Rate Overhead Assigned=actual activities base used X PDOHR
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