ACC 291 Complete Class

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ACC 291

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ACC 291 Complete Class

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• ACC 291 Week 2 DQ 1
• ACC 291 Week 2 DQ 2
• ACC 291 Week 2 Fordyce and Atwater
• ACC 291 Week 2 P8 3A BE9 11 DI9 5 E9 7 E9 8 BYP9
  P9 2A 2 (GUIDE)
• ACC 291 Week 3 DQ 1
• ACC 291 Week 3 DQ 2
• ACC 291 Week 3 P9 7A E10 5 E10 8 E10 13 BYP10 P10
  9A P10 13A IFRS10 4 2 (GUIDE)
• ACC 291 Week 4 DI11 1 E11 5 E11 7 BYP11 1 BYP11 2
  P11 5A P11 8A 2 (GUIDE)
• ACC 291 Week 4 DQ 1
• ACC 291 Week 4 DQ 2
• ACC 291 Week 5 DQ 1
• ACC 291 Week 5 E7 3 E12 1 E12 8 P12 9A P12 10A
  E13 3 E13 4 IFRS13 1 P13 2A 2 (GUIDE)
• ACC 291 Final Exam Guide

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ACC 291 Final Exam Guide

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• Question 207
• On January 1, a machine with a useful life of
  five years and a residual value of 40,000 was
  purchased for 120,000. What is the depreciation
  expense for year 2 under the double-declining-bala
  nce method of depreciation?
• IFRS Multiple Choice Question 01
• As a recent graduate of State University you're
  aware that IFRS requires component depreciation
  for plant assets. A friend has asked you to
  succinctly explain what component depreciation
  means. Which of the following correctly describes
  component depreciation?
• Multiple Choice Question 198
• Given the following account balances at year end,
  compute the total intangible assets on the
  balance sheet of Janssen Enterprises.
• Cash 1,500,000
• Accounts Receivable 4,000,000
• Trademarks 1,000,000
• Goodwill 2,500,000
• Research Development Costs 2,000,000

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ACC 291 Final Exam Guide

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• 1)Hahn Company uses the percentage of sales
  method for recording bad debts expense. For the
  year, cash sales are 300,000 and credit sales
  are 1,200,000. Management estimates that 1 is
  the sales percentage to use. What adjusting entry
  will Hahn Company make to record the bad debts
  expense?
•  
• 2) Using the percentage of receivables method for
  recording bad debts expense, estimated
  uncollectible accounts are 15,000. If the
  balance of the Allowance for Doubtful Accounts is
  3,000 credit before adjustment, what is the
  amount of bad debts expense for that period?
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• 3) Intangible assets
•  
• 4) Intangible assets are the rights and
  privileges that result from ownership of
  long-lived assets that
•  
• 5) The book value of an asset is equal to the
•  
• 6) Gains on an exchange of plant assets that has
  commercial substance are

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ACC 291 Final Exam Guide1

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• Question 1  An aging of a company's accounts
  receivable indicates that 4,500 are estimated to
  be uncollectible. If Allowance for Doubtful
  Accounts has a 1,200 credit balance, the
  adjustment to record bad debts for the period
  will require a
• Question 2 The financial statements of the Melton
  Manufacturing Company reports net sales of
  300,000 and accounts receivable of 50,000 and
  30,000 at the beginning of the year and end of
  year, respectively. What is the average
  collection period for accounts receivable in
  days?
• Question 3  Stine Company purchased machinery
  with a list price of 64,000. They were given a
  10 discount by the manufacturer. They paid 400
  for shipping and sales tax of 3,000. Stine
  estimates that the machinery will have a useful
  life of 10 years and a residual value of 20,000.
  If Stine uses straight-line depreciation, annual
  depreciation will be
• Question 4 On January 1, a machine with a useful
  life of five years and a residual value of
  40,000 was purchased for 120,000. What is the
  depreciation expense for year 2 under the
  double-declining-balance method of depreciation?
• Question 5 As a recent graduate of State
  University you're aware that IFRS requires
  component depreciation for plant assets. A friend
  has asked you to succinctly explain what
  component depreciation means. Which of the
  following ly describes component depreciation?
• Question 6 Given the following account balances
  at year end, compute the total intangible assets
  on the balance sheet of Janssen Enterprises.

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ACC 291 Week 1 Discussion Question 1

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• How would you describe the entries to record the
  disposition of accounts receivables? What is
  their function?
•  

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ACC 291 Week 1 Discussion Question 2

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• How are bad debts accounted for under the direct
  write-off method? What are the disadvantages of
  this method?

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ACC 291 Week 1 Wileyplus Assignment E8-4, E8-11,
BYP8-1, and BYP8-2

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  8-2
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• E8-4, E8-11, BYP8-1, and BYP8-2 in MS Excel
• Exercise 8-4 Wainwright Company
• Exercise 8-11 Fedex Corporation
• Broadening your Perspective 8-1 Tootsie Roll
• Broadening your Perspective 8-2 Tootsie Roll and
  Hershey
•  

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ACC 291 Week 2 Discussion Question 1

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• What are the differences among valuation,
  depreciation, amortization, and depletion?Is it
  appropriate to calculate depreciation using two
  different methods? Why?What does the Annual
  Report you are using for class say about
  depreciation?

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ACC 291 Week 2 Discussion Question 2

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• What types of industries have unearned
  revenue? Why is unearned revenue considered a
  liability? When is the unearned revenue
  recognized in the financial statements?What does
  your Annual Report say about unearned revenue?

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ACC 291 Week 2 Fordyce and Atwater

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• P10-5A
• Fordyce Electronics issues a 400,000, 8,
  10-year mortgage note on December 31, 2007. The
  proceeds from the note are to be used in
  financing a new research laboratory. The terms of
  the note provide for semiannualinstallment
  payments, exclusive of real estate taxes and
  insurance, of 29,433. Payments are due June 30
  and December 31. 
• Complete the installment payments schedule for
  the first 2 years. (Round answers to 0 decimal
  places, e.g. 125. Use rounded amounts for future
  calculations.) 
• Prepare the entries for (1) the loan and (2) the
  first two installment payments. (For multiple
  debit/credit entries, list amounts from largest
  to smallest eg 10, 5, 3,
•  2.) Show how the total mortgage liability should
  be reported on the balance sheet at December 31,
  2008.
• P10-6A
• On July 1, 2011, Atwater Corporation issued
  2,098,000 face value, 12, 10-year bonds at
  2,507,354. This price resulted in an
  effective-interest rate of 9 on the bonds.
  Atwater uses the effective-interest method to
  amortize bond premium or discount. The bonds pay
  semiannual interest July 1 and January 1. 
• Prepare an amortization table through December
  31, 2012 (3 interest periods) for this bond
  issue. 
• Prepare the journal entry to record the accrual
  of interest and the amortization of the premium
  on December 31, 2011
• Prepare the journal entry to record the payment
  of interest and the amortization of the premium
  on July 1, 2012, assuming no accrual of interest
  on June 30

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ACC 291 Week 2 Wileyplus Assignment P8-3A,
BE9-11, DI9-5, E9-7, E9-8, BYP9, P9-2A 

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• P8-3A, BE9-11, DI9-5, E9-7, E9-8, BYP9, P9-2A.
• Problem 8-3A Bosworth Company
• Brief Exercise 9-11 Nike, Inc.
• Do It! 9-5
• Exercise 9-7 Wang, Co. 
• Exercise 9-8 Cleand Company
• Broadening Your Perspective 9-1 Tootsie Roll
• Broadening Your Perspective 9-2 Tootsie Hershey
• Problem 9-2A Navaro Corporation

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ACC 291 Week 3 Discussion Question 1

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• Why does a company choose to form as a
  corporation?What are the steps required to
  become a corporation?What are the advantages
  and disadvantages of the corporate form of doing
  business?
•  

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ACC 291 Week 3 Discussion Question 2

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• Why is preferred stock referred to
  as preferred?What are some of the features added
  to preferred stock that make it more attractive
  to investors?Would you select preferred stock or
  common stock as an investment? Why?Provide stock
  details from your Annual Report. 

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ACC 291 Week 3 Wileyplus Assignment P9-7A,
E10-5, E10-8, E10-13, E10-22, E10-24, BYP10,
P10-9A, P10-13A, IFRS10-4

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  -e10-22,-e10-24,-byp10,-p10-9a,-p10-13a,-ifrs10-4
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• P9-7A, E10-5, E10-8, E10-13, E10-22, E10-24,
  BYP10, P10-9A, P10-13A, IFRS10-4.
• Exercise 10-5 Olinger Company
• Exercise 10-8 Ortega Company
• Exercise 10-13 Romine Company
• Exercise 10-22 Cole Corporation
• Exercise 10-24 Nance, Co. 
• Broadening Your Perspective 10-1 Tootsie Roll
• Broadening Your Perspective 10-2 Tootsie
  Hershey
• Problem 9-7A Farr Company
• Problem 10-9A Wempe, Co. 
• Problem 10-13A Grace Herron

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ACC 291 Week 4 Discussion Question 1

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• Why are companies required to prepare a statement
  of cash flows?Why is the statement of cash
  flows divided into three sections?What does
  each section tell you about the operations of a
  company?What are the differences between the
  direct and indirect presentation of cash
  flows?Why does the Financial Accounting
  Standards Board allow both methods? Which do you
  prefer? Why?

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ACC 291 Week 4 Discussion Question 2

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• What are some common ratios used to analyze
  financial information? Which are the most
  important?What are some examples of how ratios
  are used in the decision making process?Two
  popular methods of financial statement analysis
  are horizontal analysis and vertical analysis. 
  What are the differences between these two
  methods?

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ACC 291 Week 4 Wileyplus Assignment Do It! 11-1,
E11-5, E11-7, BYP11-1, BYP11-2, P11-5A, P11-8A

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  yp11-1,-byp11-2,-p11-5a,-p11-8a
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• Do It! 11-1, E11-5, E11-7, BYP11-1, BYP11-2,
  P11-5A, P11-8A.
• Do It! 11-1
• Exercise 11-5 Garcia Corporation
• Exercise 11-7 Pele Company
• Broadening Your Perspective 11-1 Tootsie Roll
• Broadening Your Perspective 11-2 Tootsie Roll
  Hershey
• Problem 11-5A Pringle Corporation
• Problem 11-8A Everett Corporation

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ACC 291 Week 5 Discussion Question 1

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• Why do corporations buy back their own
  stock?What does it tell you about the
  corporation?What effect does the purchase have
  on the price of a companys stock?Does your
  Annual Report discuss stock repurchase or
  balances of treasury stock?

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ACC 291 Week 5 Wileyplus Assignment E7-3, E12-1,
E12-8, P12-9A, P12-10A, E13-3, E13-4, IFRS13-1,
P13-2A

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  p12-10a,-e13-3,-e13-4,-ifrs13-1,-p13-2a
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•  E7-3, E12-1, E12-8, P12-9A, P12-10A, E13-3,
  E13-4, IFRS13-1, P13-2A.
• Exercise 7-3
• Exercise 12-1
• Exercise 12-8
• Problem 12-9A
• Problem 12-10A
• Exercise 13-3
• Exercise 13-4
• International Financial Reporting Standards 13-1
• Problem 13-2A