Participation Questions Chapter 3

Please wait until the chapter has been fully covered to answer the participation questions.

You have only 1 attempt for the participation questions. 

Questions:

1. Which publicly traded Company is used as example #1 in class for the revenue recognition principle?
2. The second example for the revenue recognition principle discusses Calvin actually taking a cruise in which month?
3. Which depreciation method did we discuss for the $24,000 in Equipment purchased by Eagle Golf Academy, where the depreciation expense equals $1,000 per month if the useful life of the equipment is 24 months?
4. After all of the adjusting entries were completed for Eagle Golf Academy and the Income statement was prepared, was the income for Golf Eagle positive or negative?
5. The example of Eagle Golf Academy showed that companies can pay dividends even when there is a net loss for the month.