BADVAC3X: Government Accounting & Accounting for Non-Profit Organizations

Chapter 7
Problems 7-2
1. A. Inventory Account
2. D. Inventory Held for Sale
3. B. Inventory Held for Distribution
4. D. Weighted Average Cost applied in a Perpetual inventory system
5. C. Current Replacement Cost
6. C. Books to be distributed to students in Public Schools
7. D. Inventory is consumed in the manufacturing process
8. B. Stock Ledger Card
9. D. The Stock Card
10. D. Requisition and Issue Slip
Problems 7-3
1. A. Merchandise Inventory xxx
2. B. Welfare Goods Expense xxx
3. A. 10,000
4. A. 116,382
5. 207,918

Chapter 8
Problems 8-1
1. False
2. True
3. True
4. True
5. True
6. True
7. False
8. True
9. False
10. True
Problems 8-3
1. B
2. A
3. D
4. D
5. C
6. B
7. C
8. A
9. A
10. D