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13) Silvia Peacock has been appointed to serve as the executor of the estate of Mr. Mickey Babay, who passed away at the age of 104 on April 5, 2011. On April 5, 2011, Mr. Babay's assets consisted of the following: Asset Book Value Fair Value Cash $40,000 $40,000 Mutual fund investment 170,000 170,000 Selonoid Incorporated common stock 22,000 28,000 Ford Mustang 24,000 16,000 Condo in.

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1.6   Discuss how an AIS can add value to an organization. 1. The American Institute of Certified Public Accountants (AICPA. has recognized the importance of AIS and the major impact information technology has on the area of accounting. To recognize individual CPAs who have met educational and experiential requirements in this.

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2) A small town in a rural area has an organization that serves the local community when there is a financial need. Among the services they provide is free groceries, clothes and furniture, along with transportation to doctors' appointments when the doctor is out of town. This voluntary health and.

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2.3   Describe the ways information is stored in computer-based information systems. 1. Identify the statement below that is not true with regards to the accounts receivable subsidiary ledger. A. Every credit sale is entered individually into the subsidiary ledger. B. Debits and credits in the subsidiary ledger must always equal. C. The subsidiary.

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3.1   Prepare and use data flow diagrams to understand, evaluate, and document information systems. 1. Graphical representations of information are often supplemented by A. narrative descriptions. B. relevant e-mail communications. C. logic charts. D. oral descriptions from management. 2. All of the following are guidelines for preparing data flow diagrams except A. show the.

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19) Record the following transactions for Porter Hospital, a private, nonprofit hospital: 1.Gross patient services revenues: $25,000,000. Billed to patients. 2.Included in the above revenues are: charity services, $500,000; contractual adjustments, $11,000,000; and estimated uncollectible amounts, $250,000. 3.Purchased equipment by issuing a 5-year note for $200,000. 4.Received cash donations restricted for a capital building.

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18) The four cash flow categories required in an Enterprise Fund's Statement of Cash Flows are listed below and assigned a letter code. A)Cash flows from operating activities B)Cash flows from noncapital financing activities C)Cash flows from capital and related financing activities D)Cash flows from investing activities Required: Use the correct letter code to indicate where.

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22.1   Multiple Choice Questions 1) Which of the following is not true? A) A not-for-profit entity operates for purposes other than to provide goods or services at a profit. B) A not-for-profit entity may be governmental or non-governmental. C) A not-for-profit entity may possess ownership interests like a corporation. D) A not-for-profit entity receives resources.

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3) Southtown Community Hospital (SCH) shows the following balances on its trial balance at June 30, 2014, their fiscal year end. SCH is a not-for-profit, nongovernmental hospital. $260,000 cash was spent on equipment from donations restricted for that purpose. Debits: Administrative services expense200,000 Contractual allowances1,200,000 Depreciation expense700,000 Employee discounts300,000 General services expense900,000 Loss on sale of fixed.

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11) Voluntary health and welfare organizations classify fund-raising costs as A) costs of services sold. B) program services. C) auxiliary expenses. D) supporting services. 12) Voluntary health and welfare organizations A) may not have paid executives or staff. B) are governed by separate GASB statements. C) use fund accounting, following the rules for proprietary fund reporting. D) are supported.

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9) The following information was taken from the accounts and records of the Helping Hands Foundation, a private, not-for-profit organization classified as a VHWO. All balances are as of June 30, 2014, unless otherwise noted. Unrestricted Support - Contributions$2,000,000 Unrestricted Support - Membership Dues640,000 Unrestricted Revenues - Investment Income80,000 Temporarily restricted gain on sale.

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5) Albatross University, a not-for-profit, nongovernmental university, had the following transactions in 2014. 1.Tuition bills were sent amounting to $8,000,000, with 70% collected before the end of the fiscal year; tuition waivers were granted on the total amount of $400,000, and $220,000 was expected to be uncollectible. 2.Cafeteria sales, all cash, were.

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13) Childrens Hospital is a private, not-for-profit hospital. The following information is available about the operations. 1.Gross patient services charges totaled $6,400,000. 2.Included in the above revenues are: charity services, $210,000; contractual adjustments, $2,400,000; and courtesy allowances, $37,000. 3.Received a donation of marketable securities with a fair value of $165,000 for the purchase.

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8) The following information was taken from the accounts and records of the Community Chest Foundation, a private, not-for-profit VHWO organization. All balances are as of December 31, 2014, unless otherwise noted. Unrestricted Support - Contributions$6,500,000 Unrestricted Support - Membership Dues700,000 Unrestricted Revenues - Investment Income63,000 Temporarily restricted gain on sale of investments20,000 Expenses -.

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1.2   Explain the decisions an organization makes and the information needed to make them. 1. Paid time-off policies, job descriptions, and procedures manuals are examples of information needed to support key decisions in what business process? A. hire and train employees B. acquire inventory C. sell merchandise D. collect payment from customers 2. Before a firm.

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