# rsm219 2012 term test2 Essay

1689 Words Feb 12th, 2014 7 Pages
University of Toronto
Joseph L. Rotman School of Management

October 25, 2012
RSM219
Financial Accounting

Duration: 1 hour 50 minutes
Aids allowed: Non-programmable calculator

Instructions:

There are 10 multiple choice and 8 problems. Please use the space provided below for your answer to the multiple choice questions.

You must use a pen. Do not use WHITEOUT.

Clearly show all computations in the test paper in order to obtain full marks for the problems.

Tests written in pencil will not be considered for remarking.

_______________________________ _______________________________ LAST NAME FIRST NAME
Sodor purchased merchandise on account for \$5,000. The credit terms are 2/10, n/30. Jane has talked with the company's banker and knows that she could earn 9% on any money invested in the company's savings account.

Required:
(a) Should Jane pay the invoice within the discount period or should she keep the \$5,000 in the savings account and pay at the end of the credit period (i.e. after 30 days)? Support your recommendation with a calculation showing which action would be best.
(b) If Jane forgoes the discount, it may be viewed as paying an interest rate of 2% for the use of \$5,000 for 20 days. Calculate the annual rate of interest that this is equivalent to.

Part C (11 marks)

Match the items below by entering the appropriate code letter in the space provided.

A. Merchandise inventory G. Last-in, first-out (LIFO) B. Cost H. Average cost C. FOB shipping point I. Perpetual D. FOB destination J. Inventory turnover E. Specific identification method K. Periodic F. First-in, first-out (FIFO)

1. Each of the inventory cost formulas used in a perpetual inventory system may be used in a(n) _____________ inventory system.

2. The method tracks the actual physical flow for each

## Related Documents

• ###### Essay Installing Windows Server 2012 And Configure

Goal The purpose of this lab is to install Windows Server 2012 and configure it to provide some network services. The services installed include DHCP, DNS, and Active Directory. Installing AD, means this server will be promoted to Domain Controller status. Since one of the RHEL 7 servers is already a DHCP server, disabling the dhcpd daemon must be done to ensure there will not be any conflicts. Additionally, the RHEL 7 DNS server will be reconfigured to act as a secondary with the Windows server…

Words: 1671 - Pages: 7
• ###### Essay about The 2012 Conspiracy

The most widespread assumption about the Apocalypse in 2012 is made in correlation with Mayan ancient culture calendar. As Anthony F. Aveni said in an article, in order to comprehend our own civilization, we have to compare and reflect it from the eyes of others (Aveni, 1). Based on this statement, Robert Sharer, an American archeologist and researcher, investigates the Mayan culture in a book entitled The Ancient Maya. From there, readers may find all the information about Mayan culture. According…

Words: 1654 - Pages: 7
• ###### Essay on Microsoft Strategy 2012

(+33% on operating income; +20% on revenue between 2009 and 2011). Nevertheless financial reports indicate that each segment has not supported profit equally. Therefore, as the management team, which recommendations for Microsoft could be done for 2012 and beyond for each segment? I. Windows & Windows Live Division This segment of Microsoft offerings consists of multiple editions of the Windows operating system, software and services through Windows Live, and Microsoft PC hardware products…

Words: 1189 - Pages: 5
• ###### Essay about 1984...In 2012

1949. Print. Ramirez, Odillon. “George Orwell’s 1984 and Today…In 2011?!?! Todays Government 1984!.” Civilians News. 17 September 2011. Web. 15 March 2012. “Why Is 1984 Such a Frightening Novel, And What Tec.” Anti Essays. 16 August 2011. Web. 15 March 2012. “1984 And Today’s Society.” Anti Essays. 17 December 2008. Web. 15 March 2012.…

Words: 1304 - Pages: 6
• ###### The 2012 Conspiracy Essay

end of the world, December 21, 2012. The irony is that the date associated with the end of the world is constructed on the premise that history is cyclical and not linear. Predicting the Day of Judgment is a cultural phenomenon that speculates cataclysmic and apocalyptic events that will occur. This idea has been disseminated in countless books, websites, and documentaries. The forecast that the world will end in 2012 is based on the fact that the Mayan culture long-term calendar, which ends in 5125…

Words: 1639 - Pages: 7
• ###### Htc Annual Report 2012 Essay

smartphone market, HTC Corporation (HTC) has in the past year continued to allocate resources to product development, technological innovation, and marketing in order to satisfy consumer needs and at the same time solidify HTC's core developmental ability. 2012 saw HTC reach its 15th anniversary, marking an important milestone. In February, at Mobile World Congress (MWC) held in Barcelona, HTC started a camera and audio revolution with the announcement of its One series of smartphones. These smartphones introduced…

Words: 100345 - Pages: 402
• ###### Essay on ISS315 spring 2012

ISS 315 GLOBAL DIVERSITY AND INTERDEPENDENCE Spring, 2012: Exam 1(Form A) IMPORTANT: This exam is the property of Center for Integrative Studies at Michigan State University. Reproduction and sale of this exam in any form is prohibited. Name: ____________________________________________ Student Number: __________________________________ Lectures Political economy and classical theories 1. Influence of politics on economics and vice versa is a definition of: A.…

Words: 1937 - Pages: 8
• ###### Essay on Apocalypse 2012

solstice of 2012. Also, Scientists believe the earth could end in multiple different scenarios: being sucked into a black hole; nuclear winter; volcanic explosion; or ice age. Both scientists and ancient societies agree that the world will come to an end in the near future. Through research, evidence suggests that the world, could in fact, end on December 21, 2012. Through years of investigation, scientists are convinced that the Mayan Calendar predicts the world to end in 2012. The Mayan…

Words: 2109 - Pages: 9
• ###### Maths 2012 Paper

Write your name here Surname Other names Centre Number Candidate Number Edexcel GCSE Mathematics A Paper 2 (Calculator) Higher Tier Thursday 8 November 2012 – Afternoon Time: 1 hour 45 minutes Paper Reference 1MA0/2H You must have: Ruler graduated in centimetres and millimetres, protractor, pair of compasses, pen, HB pencil, eraser, calculator. Tracing paper may be used. Total Marks Instructions Use black ink or ball-point pen. Fill in the boxes at the top of…

Words: 1471 - Pages: 6
• ###### Impact of 2012 Olympics on Hospitality Essay

Proposed Working Title 2012 Olympics and its impact on the hospitality industry of London. Research Background / Context On 6th July’ 2005 London was selected as the host city for the 2012 summer Olympic and Paralympics Games. The games is often labelled as the “greatest show on earth” which involves thousands of sports persons both men and women from around the globe aiming to reach the ultimate in sporting achievement. The Olympic Games will take place entirely in London, but the bid…

Words: 1781 - Pages: 8