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ACC 304 Course Inspiring Minds/ tutorialrank.com
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ACC 304 Course Inspiring Minds / tutorialrank.com
ACC 304 Final Exam Part 1 (3 Sets)
ACC 304 Final Exam Part 1 (3 Sets) 1 1)
Swing High Inc. offers its 100 employees to
participate in an employee share-purchase plan.
Under the terms of plan, employees are entitled
to purchase 10 shares at 10 discount. The par
values of shares were 10. Overall, 60 employees
accepted the offer and each employee purchased
six shares. The market price on purchase date was
100.
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ACC 304 Course Inspiring Minds / tutorialrank.com
ACC 304 Final Exam Part 2 (2 Sets)
1) On January 1, 2015, Piper Co. issued
ten-year bonds with a face value of 3,000,000
and a stated interest rate of 10, payable
semiannually on June 30 and December 31. The
bonds were sold to yield 12. Table values
are Present value of 1 for 10 periods at 10
.386 Present value of 1 for 10
periods at 12 .322
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ACC 304 Course Inspiring Minds / tutorialrank.com
ACC 304 Week 1 Chapter 8 Homework
1) Matlock Company uses a perpetual
inventory system. Its beginning inventory
consists 50 units that cost 34 each. During June
, (1) the company purchased units at 34 each,
(2) returned 6 units for credit ,and (3) sold 125
unit at 50 each. Journalize the June
transactions.
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ACC 304 Week 2 Chapter 8 Quiz (All Possible
Questions)
ACC 304 Week 2 Quiz Strayer NEW CHAPTER
8 VALUATION OF INVENTORIESA COST-BASIS
APPROACH IFRS questions are available at the end
of this chapter. TRUE FALSEConceptual
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ACC 304 Week 2 Chapter 9 Homework
ACC 304 Week 2 Chapter 9 Homework 1) Floyd
Corporation has the following four items in its
ending inventory. Determine the final
lower-of-cost-or-market inventory value for each
item.
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ACC 304 Week 3 Chapter 9 Quiz (All Possible
Questions)
1. A company should abandon the historical
cost principle when the future utility of the
inventory item falls below its original cost.
2. The lower-of-cost-or-market method is used
for inventory despite being less conservative
than valuing inventory at market value.
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ACC 304 Week 3 Chapter 10 Homework
ACC 304 Week 3 Homework (Chapter 10) 1)
Hanson Company is constructing a building.
Construction begins on February 1 and was
completed on December 31. Expenditure were
1,800,000 on march 1, 1,200,000 on June 1, and
3,000,000 on December 31. Compute Hansons
weighted-average accumulated expenditure for
interest capitalization purposes.
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ACC 304 Week 4 Chapter 10 Quiz (All Possible
Questions)
Week 4 Quiz 3 Chapter 10 ACQUISITION AND
DISPOSITION OF PROPERTY, PLANT, AND
EQUIPMENT IFRS questions are available at the end
of this chapter. TRUE-FALSEConceptual
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ACC 304 Week 4 Chapter 11 Homework
ACC 304 Week 4 Chapter 11 Homework 1)
Lockard Company purchased machinery on January 1,
2014, for 102,960. The machinery is estimated to
have a salvage value of 10,296 after a useful
life of 8 years. 2) Compute 2014
depreciation expense using the double-declining-ba
lance method. 3) Compute 2014 depreciation
expense using the double-declining-balance
method, assuming the machinery was purchased on
October 1, 2014.
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ACC 304 Week 5 Midterm Part 1 (Set 1)
The book value of a plant asset is The asset
turnover ratio is computed by dividing On
September 19, 2014, Markham Co. purchased
machinery for 285,000. Salvage value was
estimated to be 15,000. The machinery will be
depreciated over eight years using the
sum-of-the-years'-digits method.
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ACC 304 Course Inspiring Minds / tutorialrank.com
ACC 304 Week 5 Midterm Part 1 (Set 2)
Multiple Choice Question 90 If Labor, Inc. uses
the composite method and its composite rate is
7.5 per year, what entry should it make when
plant assets that originally cost 80,000 and
have been used for 10 years are sold for 24,000?
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ACC 304 Course Inspiring Minds / tutorialrank.com
ACC 304 Week 5 Midterm Part 1 (Set 3)
1) Tongas Company applies revaluation
accounting to plant assets with a carrying value
of 1,600,000, a useful life of 4 years, and no
salvage value. Depreciation is calculated on the
straight-line basis. At the end of year 1,
independent appraisers determine that the asset
has a fair value of 1,500,000.
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ACC 304 Week 5 Midterm Part 2
1) 1) A machine which cost 300,000 is
acquired on October1, 2014. Its estimated salvage
value is 30,000 and its expected life is eight
years. a) Calculate depreciation expense
for 2014 and 2015 by double-declining balance
b) Calculate depreciation expense for 2014
and 2015 by sum-of-the-years-digits
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ACC 304 Week 6 Chapter 12 Homework
ACC 304 Week 6 Chapter 12 Homework 1)
Waters Corporation purchased Johnson Company 3
years ago and at that time recorded goodwill of
400,000. The Johnson Divisions net assets,
including the good well, have a carrying amount
of 800,000. The fair value of the division is
estimated to be 1,000,000.prepare Waters
journal entry to record impairment of the
goodwill.
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ACC 304 Week 7 Chapter 12 Quiz (All Possible
Questions)
ACC 304 Week 7 Quiz Strayer NEW Week 7 Quiz 4
Chapter 12 INTANGIBLE ASSETS IFRS questions are
available at the end of this chapter. TRUE-FALSEC
onceptual
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ACC 304 Course Inspiring Minds / tutorialrank.com
ACC 304 Week 7 Chapter 13 Homework
1) Takemoto Corporation borrowed 64,850 on
November 1, 2014, by signing a 68,450, 3-month,
zero-interest-bearing note. Prepare Takemotos
November 1, 2014, entry the December 31, 2014,
annual adjusting entry and the February 1, 2015,
entry. (If no entry is required, select "No
Entry" for the account titles and enter 0 for the
amounts. Credit account titles are automatically
indented when amount is entered. Do not indent
manually.)
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ACC 304 Week 8 Assignment 1 Delta Airlines
Property, Plant, And Equipment
ACC 304 WEEK 8 ASSIGNMENT 1 DELTA AIRLINES
PROPERTY, PLANT, AND EQUIPMENT Assignment 1
Delta Airlines Property, Plant, and Equipment
Due Week 8 and worth 200 points
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ACC 304 Course Inspiring Minds / tutorialrank.com
ACC 304 Week 8 Chapter 14 Homework
1) Teton Corporation issued 704,000 of 9
bonds on November 1, 2014, for 745,018. The
bonds were dated November 1, 2014, and mature in
8 years, with interest payable each May 1 and
November 1. Teton uses the effective-interest
method with an effective rate of 8.
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ACC 304 Course Inspiring Minds / tutorialrank.com
ACC 304 Week 9 Chapter 13 and Chapter 14 Quiz
(All Possible Questions)
ACC 304 Week 9 Quiz Strayer NEW Week 9
Quiz 5 Chapter 13, Quiz 6 Chapter 14
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ACC 304 Week 9 Chapter 15 Homework
1) Ravonette Corporation issued 375 shares
of 14 par value common stock and 128 shares of
51 par value preferred stock for a lump sum of
17,118. The common stock has a market price of
20 per share, and the preferred stock has a
market price of 90 per share.
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ACC 304 Week 10 Chapter 15 Quiz (All Possible
Questions)
ACC 304 Week 10 Quiz Strayer NEW Week 10 Quiz
7 Chapter 15 STOCKHOLDERS EQUITY IFRS questions
are available at the end of this
chapter. TRUE-FALSEConceptual
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ACC 304 Week 10 Chapter 16 Homework
1) Archer Inc. issued 4,461,300 par value,
7 convertible bonds at 99 for cash. If the bonds
had not included the conversion feature, they
would have sold for 95. Prepare the journal
entry to record the issuance of the bonds.
(Credit account titles are automatically indented
when amount is entered. Do not indent manually.
If no entry is required, select "No Entry" for
the account titles and enter 0 for the
amounts.) Account Titles and Explanation
Debit Credit
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ACC 304 Course Inspiring Minds / tutorialrank.com
ACC 304 Week 10 Chapter 16 Homework
1) Archer Inc. issued 4,461,300 par value,
7 convertible bonds at 99 for cash. If the bonds
had not included the conversion feature, they
would have sold for 95. Prepare the journal
entry to record the issuance of the bonds.
(Credit account titles are automatically indented
when amount is entered. Do not indent manually.
If no entry is required, select "No Entry" for
the account titles and enter 0 for the
amounts.) Account Titles and Explanation
Debit Credit
25
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The Best way to predict the Future is to create
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