Author: Anonymous

I certify that this assessment represents my un-assisted eff…

I certify that this assessment represents my un-assisted efforts. I also certify that I have complied with Penn State Academic Integrity Policies and have not used either a website or another person to obtain answers for this assessment. I further understand that failure to comply with Penn State Academic Integrity Standards may result in a grade of zero on this assessment, a grade of “F” in this course, and/or an Academic Integrity violation on your academic record depending upon the severity of the infraction.   You are permitted to use:  A single sheet of handwritten notes, front and back, of standard printer or notebook paper size (8.5 x 11)  Blank sheets of paper to be used as scratch paper Writing utensil(s) On-screen calculator You are NOT permitted to:  Visit any other websites, or open any computer applications Make use of the textbook, digital notes, or printed notes (beyond the single handwritten sheet) Use a handheld calculator, phone, tablet, or any other technology Copy/Paste or print Use multiple monitors, headphones, cell phones, smartwatches, smart glasses, or wear hats You will be asked to confirm that you have understood and have followed these requirements at the end of the exam. 

Smart Inc. had $[a],000 of cash on hand at the end of the fi…

Smart Inc. had $[a],000 of cash on hand at the end of the first year of operation. During the second year, Smart had earned $[b],[c]00 of cash revenue and paid $[d]00 of cash expenses.  What amount of cash would be reported on the Year 2 ending Balance Sheet?  Enter answer as a whole number (round to the nearest whole number if needed, no decimals) and without a dollar sign (i.e., 4,250).

Snack Inc recorded the purchase of land on February [date]th…

Snack Inc recorded the purchase of land on February [date]th in the amount of $[purc]0,000. At the end of the year, the land was valued at $[market]0,000 though Snack maintained ownership. Assuming this is the only land owned by the company, at what value will it be reported on the company’s Balance Sheet at the end of the year?  Enter answer as a whole number (round to the nearest whole number if needed, no decimals) and without a dollar sign (i.e., 4,250).