Intermediate Accounting Sample Test

- Complete all of the details required on the front page of the examination booklet. - Make sure that you note the SIX(6) questions attempted on the front of your examination booklet - If Seven questions are attempted, the first SIX(6) will be marked. - You may use a non-programmable calculator - Graph paper will be provided. - Answers are to be written in ink. Pencils are permitted for graphing purposes. - The

Problems like the following will be included on the final exam. Your instructor may indicate

Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.

* Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

* Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

* Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

For pensions and post-retirement accounting methods to recognize the benefit costs, estimates and assumptions on future events ascertaining the timing and amount of benefits payments must be sought first. This paper seeks to compare and contrast the early historical accounting for pensions and post-retirement healthcare and life insurance benefits with the rules and guidance applied today in addition to the changes to such guidance and rules that would improve the accounting and reporting of such benefits depending on the business and political changes and as such, predict the effect of such changes on financial reporting and accounting practices.

Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

* Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

- Any visual demonstrations will be applied to the paper via jpgs. Any calculations performed will follow a set and defined procedure detailed below.

Defined contribution plan - employer agrees to make a defined contribution to a pension plan

3. Assume that cost of goods sold for a company consists only of variable costs and gross margin is = (revenue – cost of goods sold)/revenue. Which of the following is true

9. How did the pension plan changes affect Harnischfeger’s financial statements in 1984? Are these changes likely to affect future profits?

ABCO Corporation has a parts division in country A. Its assembly division is in country B, which has a higher tax rate than country A. To minimize the corporation's overall income tax, how should ABCO set its transfer prices between its parts and assembly divisions?

Ensuring that complete and accurate financial information from a company's capital structure and its operations is made available to both executives and the board of directors (and to other shareholders and relevant governmental entities, etc.) is an essential task of the company's personnel. Relevant accounting officers and managers need to be able to track independent expenditures, sales revenue, and other changes in the company's financial makeup and strength, and in many companies this requires additional accounting staff as well. In a pension organization that deals solely with the transfer and the tracking of money to and from various accounts, investments, and payees, these accounting tasks are especially important. The following paragraphs provide a brief review of the practices at one pension organization, reviewing procedures and results and making recommendations.