I need help with this Accounting quiz. Needs to be turned in, in the next 3 hours.

Quiz #2 Professor Talbot Grade 0 Name______________________________________ Start time_________________ Finish time__________________ Fall 2015 ACCT 301 UMUC Welcome to Quiz 3 Save this file as: Once you open up the exam found in the assignment section under quiz 3, You will have 2.5 hours to complete the quiz, closed book with no resources other than one page of your personal notes. Please turn in the one page of personal notes with this excel file after these instuctions in the assignment section. Also on the top of the page annotate your start time and ending time and it should be no longer than 2 1/2 hours. Please study for this quiz as a closed book test and study like you would any quiz that you take in the classroom. Understand Stockholders' Equity: Classes of Capital Stock, be able to prepare the Stockholders' Equity section of the balan Property, Plants, and Equipment / PPE (Capital Assets; Fixed Assets). Understand journal entries for PPE and accumulated depreciation. How are these values changing, from year to year? PPE, Accumulated Depreciation, Net PPE. Study inventory methods, FIFO, LIFO, avg cost Study cash bank recociliations and internal control Receivables and Payables Paid In Capital, Retained Earnings, Owners' Equity, Dividends, Treasury Stock Study accounts recievable and the allowance method Know the 3 depreciation methods, straight line, units of production and double declining balance methods. Study the Excel homework and exercises, review the in class discussions and the reading material. Good luck on the quiz and make sure that you upload the excel document by Thursday at 11:45 in the assignment section Save this file as: Failure to follow these instructions will result in a reduction in points on Quiz 3 File name: Last Name_First name_ACCT 301_Quiz 2 Total Quiz is worth 100 points. Each multiple choice question is worth 2 points, each exercise is worth 10 points. Last Name_First name_ACCT 301_Quiz 2 e page of your personal notes. the assignment section. onger than 2 1/2 hours. take in the classroom. ders' Equity section of the balance sheet. balance methods. 11:45 in the assignment section of the Leo classroom. Exercise #1 Points Presented below is a partial stockholders' equity section of Ruple Corporation's balance sheet on December 31, 2014: Stockholders' Equity Paid-In Capital Capital Stock Common Stock, $5 par value, 300,000 shares authorized; _____ shares issued and _____ outstanding............. Additional Paid-In Capital In excess of par value........................................................ Retained Earnings................................................................. Less: Treasury stock, 10,000 shares...................................... Total Stockholders' Equity............................................................ Instructions Complete the following statements and show your computations. a. The number of shares of common stock issued is __________. b. The number of shares of common stock outstanding is __________. c. The total paid in capital is $__________. $1,200,000 120,000 500,000 (120,000) $1,700,000 d. The cost per share of the treasury stock was $__________. e. Total number of shares authorized is______________. Exercise #2 Points The Remove-U-Tattoo Clinic purchased a surgical laser for $84,000 on January 1, 2014. The estimated salvage value is $4,000. The laser has a useful life of five years and the clinic expects to use it 10,000 hours. It was used for 900 hours in 2014; 2,100 hours in 2015; 2,400 hours in 2016. Instructions Showing all of your computations, compute the book value and the accumulated depreciation for December 31, 2015 under each of the following three methods: (1) Straight-line: 2015 accumulated depreciation ____________________ 2015 book value ____________________ (2) Units-of-activity: 2015 accumulated depreciation ____________________ 2015 book value ____________________ (3) Double-declining balance: 2015 accumulated depreciation ____________________ 2015 book value ____________________ Exercise #3 Points The adjusted trial balance accounts: Advertising Expense Cost of Goods Sold Depreciation Expen Freight-out Income Tax Expens Interest Expense Interest Revenue Merchandise Invent Prepaid Rent Sales Sales Discounts Sales Returns and A Store Salaries Expe Unearned Revenue Utilities Expense Prepare a multiple-step income statement, in proper form, for the year ended December 31, 2014 for Cosey Inc. Also known as a classified income statement 15,000 347,000 3,500 2,000 21,700 19,000 25,000 35,750 4,500 575,000 9,500 50,000 74,000 8,000 18,000 Answers to the 30 multiple choice questions 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30