2 pages double spaced, all details in attached file.

Chapter 5

1. When the beginning balance field on the Begin Reconciliation window doesn’t match the beginning balance on the bank statement, you should:

A. call the bank

 

B. Change the amount in QuickBooks to match the bank’s amount.

 

C. Click locate discrepancies in the begin reconciliation window. Click discrepancy report and / or previous reports to research what has been changed since the last reconciliation. Then fix the problem before reconciling.

 

D. Select the banking menu and then select enter statement charges.

 

2. Which statement is false?

 

A. You can enter bank service charges using enter statement charges.

 

B. You can enter bank service charges on the Begin Reconciliation window.

 

C. You can enter bank service charges using the splits button on a register transaction.

 

D. You can either enter bank service charges using write checks before you start your reconciliation.

 

 

 

3. When you find an erroneous amount on a transaction while reconciling, correct the amount by:

 

A. Selecting the Banking menu and then selecting correct error.

 

B. Double clicking on the entry and changing the amount on the transaction.

 

C. Selecting the entry in the Reconcile window, then clicking go to and changing the amount of either transaction.

 

D. Performing either b or c.

 

4. To properly record a voided check from a closed accounting period:

 

A. Delete the check in the register

 

B. Make a deposit in the current period and code it to the same account as the original check you want to void. Then delete both transactions in the Reconciliation window.

 

C. Find the check in the register, select the edit menu, and then select void check.

 

D. Change the amount of the check to zero.

 

5. Which of the following columns cannot be displayed in the checks and payments section of the Reconcile window:

 

A. Check #

 

B. Class

 

C. Date

 

D. Payee

 

 

 

Chapter 6 Review Questions

 

1. What are the two major types of reports in QuickBooks?

 

A. Register and list

 

B. Monthly and annual

 

C. Accounting and business management

 

D. Balance sheet and profit and loss

 

2. Use the customize report button on any report to:

 

A. Add or delete columns or changes the accounting basis of the report.

 

B. Change the Width of columns on the report

 

C. Print the report on blank paper

 

D. Memorize the report for future use

 

3. You cannot create a QuickReport for:

 

A. Customers

 

B. Vendors

 

C. Items

 

D. Incorrectly posted entries

 

4. To create a report that lists each of your vendors along with their address and telephone information:

 

A. Display the vendor contact list

 

B. Open the Search window and do a search for Vendors and the corresponding Address and Phone Numbers.

 

C. Customize the Vendors database

 

D. You must create a Modified report to see this information

 

5. In order to analyze if the company is profitable.

 

A. Only analyze if the company is profitable

 

B. Create a profit and loss report

 

C. Review all detailed transaction reports

 

D. Review the financial exceptions report

 

Chapter 7 review Questions

 

1. You can create custom fields for:

 

A. Customers

 

B. Templates

 

C. Vendors

 

D. Both a and c

 

2. The two types of preferences are:

 

A. User and Company preferences

 

B. User and accountant preferences

 

C. Favorite and general preferences

 

D. Income and expense preferences

 

3. If you don’t see the favorites menu in your menu bar, you can turn it on in the:

 

A. Customize templates windows

 

B. Customize Icon bar window

 

C. View menu

 

D. Windows menu

 

 

4. Which of the following is not an available template type in QuickBooks?

 

A. Credit memo

 

B. Statement

 

C. Check

 

D. Sales receipt

 

5. If you pay sales tax to more than one agency, you should use which of the following item types?

 

A. Sales tax group

 

B. Group

 

C. Inventory assembly

 

D. subtotal

One of the most notable sea disasters occurred with the sinking of the Titanic on Monday, April 15, 1912. The table below summarizes the fate of the passengers and crew. A common rule of the sea is that when a ship is threatened with sinking, women and children are first to be saved. FATE OF PASSANGERS AND CREW OF THE TITANIC MEN WOMEN BOYS GIRLS SURVIVED 332 318 29 27 DIED 1360 104 35 18 If we examine the data we see that 19.6% of the men(332out of 1692) survived, 75.4% of the women (318 out of 422) survived, 45.3 of the boys (29 out of 64) survived , and 60% of the girls (27 out of 45) survived. There do appear to be differences, but are the differences really significant? First construct a bar graph showing the percentage of survivors in each of the four categories (men, women, boys and girls). What does the graph suggest? Next treat the 2223 people aboard the titanic as a sample. We could take the position that the Titanic data in the above table constitutes a population and therefore should not be treated as a sample, so that methods of inferential statistics do not apply. But let’s stipulate that the data in the table are sample data randomly selected from the population of all theoretical people who would find themselves in the same conditions. Realistically, no other people will actually find themselves in the same condition, but we will make that assumption for the purpose of this discussion and analysis. We can then determine whether the observed differences have statistical significant. Use one or more formal hypothesis test to investigate the claim that although some men survive while some women and children died, the rule of “women and children first” was essentially followed. Identify the hypothesis test(s) used to interpret the results by addressing the claim that when the titanic sank on its maiden voyage, the rule of “women and children first” was essentially followed.

Hello! I need help completing a timed midterm. It’s times as soon as I send the file. It includes items such as:

 

1) present values

2) valuing bonds

3) stocks

4) net present value

5) risk and return

6) net present value rule

7) risk and cost of capital

 

Some answers require calculations and others just need answers to the questions.