please fill out all these questions (typed perfurablly)

1. List 4 goals for the successful business use of internal controls. 2. Identify 7 internal control principles that are implemented by businesses in various ways. 3. Explain what the term "liquidity" means when it is used to describe an asset. 4. Explain what the term "liquidity" means when it is used to describe a business. 5. List examples of various items included in the business measure of "cash". 6. Define the phrase "cash equivalents" and describe how these amounts are reported in the financial statements. 7. Identify two primary business goals of cash management. 8. Uist 5 cash management strategies commonly used by businesses. 9. Define and properly treat the following common bank statement / cash account reconciling items: a. Deposits in transit b. Outstanding checks c. Bank fees d. NSF checks e. Unrecorded cash receipts f. Interest earned 10. Identify and describe the 2 methods used to account for bad debts. 11. Explain the weaknesses and strengths of each of the 2 methods used to account for bad debts. 12. Describe the formula used to calculate bad debt expense when using the percentage of sales method. 13. When using the allowance method, describe the effect writing off an A/R has on: current assets, total assets, liabilities, equity, revenue, expenses, and net income. 14. Describe the meaning of each of the following relative to a N/R : a. Princlpal b. Maturity date c. Period d. Honored e. Dishonored 15. Determine the maturity date for a promissory note when the period is defined in: days, months, and years. 16. Properly calculate total interest on a N/R when the period is defined inc days, months, and years. 17. Properly calculate the amount of N/R interest to accrue at yearend when the maturity date is after year-end. 18. Identify, describe, and give examples of each of the 3 classifications of long-term assets 19. Properly apply the rule to calculate the amount to capitalice as the acquisition cost for each type of LT asset. 20. Properly allocate a "lump-sum" plant asset purchase price to each asset acquired based on relative fair market value measures. 21. Describe what the process of depreciation accomplishes as well as what it does not accomplish. 22. Define and properly use measures of salvage value and useful life in the straight line formula to calculate depreciation expense. 23. Properly calculate the book value of a plant asset over the useful life of the asset. 24. Calculate SL depreciation expense for a plant asset for the vear in which a change is made to the estimated total useful life, and/or to the estimated salvage value. 25. Calculate pain or loss on disposal of a plant asset. 26. NOTE: all depreciation questions will imolve only whole years (no partial vears)! 27. Explain the 3 defining time aspects of a liablity. 28. Properly classify liability amounts as either current or noncurrent. 29. Describe, and give examples of, known liabilities and estimated liabilities. 30. Describe what is meant by "gross pay" and "net pay" amounts in payroll accounting. 31. Identify the 2 elements of FiCA tanes. 32. Describe how amounts withheld from employee gross pay are recorded in the company's accounting system. 33. Properly calculate total interest on a N/P when the period is defined in: days, months, and years. 34. Properly calculate the amount of N/P interest to accrue at year-end when the maturity date is after year-end. 35. Explain what a warranty is and describe the proper accounting treatment for it over the life of the warranty. 36. Calculate warranty expense based on a percentage of sales approach. 37. Explain what a "contingent liability" is and describe the proper accounting treatment when the likelihood of the associated future event occurring is either probable, possible, or remote. 38. Explain how the repayment pattern of an instaliment note differs from that of a bond. 39. For an installment note, calculate the amount of interest and principle included in each of the first and second fixed cash flow reparment amounts. 40. Explain the following terms related to bonds pwable, including how the term affects the accounting for B/P: a. bond indenture b. bond proceeds c. face value 4. contract rate of interest e. market rate of interest t. cash interest payment g. interest expense h. bond premium i. bond discount 41. Calculate bond proceeds using the percentage of face method and the present value calculation method. 42. NOTE: small portions of the PV tables will be given as part of a fact pattern if needed 43. Explain the relationship between the contract rate of interest, the market rate of interest at issuance, and bond premiums and discounts. 44. Describe the amount a bond carrying value equals at issuance, and then at maturity after the final interest payment is made. 1. For the following types of transactions (from chapters 6-10), analyze a fact pattern, determine which accounts are effected, the nature of the effect (increase or decreasel, and make the joumal entry to record the transaction including debiting and crediting the accounts correctly. a. Estimating bad debt expense as a percentage of sales when using the allowance method b. Writing off an uncollectible A/R when using the allowance method c. Recovering a previously written off A/R when using the allowance method d. Company accepts a N/R plus a small amount of cash to replace a past due A/R e. Accrue interest earned on a N/R at period end f. Customer honors a N/R at maturity 8. Customer dishonors a N/R at maturity h. Acquire a long-term asset. 1. Alecord depreciation for a plant asset 1. Record (and calculate) amortization for an intaneble asset k. Record (and calculate) depletion for a natural resource 1. Company disposes of a plant asset after using it in operations for several years m. Company issues a N/P and pays a small amount of cash to replace a past due A/P n. Company issues a N/P when borrowing money from a bank a. Accrue interest eamed on a N/P at period end p. Company honors a N/P at maturity 4. Company dishonors a N/P at maturity r. Cash received in advance from a customer for services to be provided in future periods 5. Revenue earned which was paid by a customer before the earnings process was complete t. Estimating warranty expense as a percentage of sales u. Servicine warranty obligations v. Company makes a required payment on an installment note payable w. Company issues a B/P at a premium or at a discount x. Company makes the first interest payment on a B/P issued at either a premium or a discount