Bam 110 accounting cal coast university unit 4 exam

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5. St.Paul Corporation has a normal gross profit of 45% current Year’s beginning inventory was 2500 purchases were 9000 and retail sales were 15000 the estimated ending inventory under the gross profit method is?

6. An overstatement of ending inventory in one period results in?

11. The depreciation method that does not base the expense on the passage of time but on the level of use is?

12. Which depreciation method does not deduct residual value when Computing depreciation expense?

15. Characteristics of a corporation include?

16, The entry to record selling 150 shares of no par common stock with a stated value of $30 for $40 would be to?

17. No entry was recorded for the exchange of stock for land.  This error would cause?

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