1) What is the maturity date of a 6-month note receivable dated February 5?
2) What are the types of adjusting entries used for accrued expenses and accrued
revenues?
3) Explain the concept of the present value of a single amount.
4) Identify the three categories of manufacturing costs.
5) Nano, Inc. is preparing its budget for the second quarter. The following sales data
have been forecasted:
How many units should be purchased in April, May, and June? How many units should
be purchased in the second quarter in total?
6) What are the three types of inventories that are carried by manufacturers? Describe
each type of inventory.