ACCT 551 Your world/uophelp.com

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ACCT 551 Expect Success/uophelp.com

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ACCT 551 Course Project (Notes to Financial
Statement) (2 Project)
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• This Tutorial contains 2 Different Course Project
• ACCT 551 Course Project (Notes to Financial
  Statement)

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ACCT 551 Final Exam Set 2
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• Question 1. 1. (TCO C) Which characteristic is
  not possessed by intangible assets? (Points 5)
•         Physical existence
•         Short-lived
•         Result in future benefits
•         Expensed over current and/or future years

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ACCT 551 Final Exam Set 1
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• Question 2. (TCO C) Which intangible assets are
  amortized?
• Limited Life       Indefinite Life
• Question 1. (TCO C) Which characteristic is not
  possessed by intangible assets?
•         Physical existence
•         Short-lived
•         Result in future benefits
•         Expensed over current and/or future years

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ACCT 551 Midterm Exam Set 1
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• Question 1. (TCO C) The major problem of
  accounting for intangibles is determining 
•         fair market value.
•         separability.
•         salvage value.
•         useful life.

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ACCT 551 Midterm Exam Set 2
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• Question 2.      Question         (TCO C)
  Wriglee, Inc. went to court this year and
  successfully defended its patent from
  infringement by a competitor. The cost of this
  defense should be charged to
• Question 1. (TCO C) The major problem of
  accounting for intangibles is determining

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ACCT 551 Week 1 Discussion BE12-2, BE12-3,
BE12-7, BE12-6, BE 12-12, Ex 12-15
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• BE12-3 provides us repeated practice to record
  amortization on intangible asset??
• BE12-2 makes us learn that if any legal cost is
  incurred to defend an intangible assets  it
  should be added to the book value of intangible
  asset and depreciated over its remaining useful
  life.  Book Value is determined by subtracting
  amortization till the date of incurring legal
  cost from the purchase price.

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ACCT 551 Week 1 Homework E12-5, E12-16
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• E12-5 (Correct Intangible Assets Account) As the
  recently appointed auditor for William J. Bryan
  Corporation, you have been asked to examine
  selected accounts before the 6-month financial
  statements of June 30, 2014, are prepared. The
  controller for William J. Bryan Corporation
  mentions that only one account is kept for
  intangible assets. The account is shown below.

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ACCT 551 Week 2 Homework E13-11, E13-12, P13-9
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• E13-11 (Warranties) Sheryl Crow Equipment Company
  sold 500 Rollomatics during 2014 at 6,000 each.
  During 2014, Crow spent 20,000 servicing the
  2-year warranties that accompany the Rollomatic.
  All applicable transactions are on a cash basis.

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ACCT 551 Week 3 Homework P14-5, P14-6, P14-7
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• P14-5 (Comprehensive Bond Problem) In each of the
  following independent cases the company closes
  its books on December 31.
• P14-6 (Issuance of Bonds between Interest Dates,
  Straight-Line, Redemption) Presented below are

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ACCT 551 Week 4 Homework E15-2, E15-5, E15-6
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• EXERCISE 15-2
• Facts Kathleen Battle Corporation was organized
  on January 1, 2014. It is authorized to issue
  10,000 shares of 8, 100 par value preferred
  stock, and 500,000 shares of no-par common stock
  with a stated value of 1 per share. The
  following transactions were completed during the
  first year. Prepare entries to record the
  transactions.

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ACCT 551 Week 5 Homework E15-15, E15-16
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• E15-15 (Dividend Entries) The following data were
  taken from the balance sheet accounts of
  Masefield Corporation on December 31, 2013.
• (a) A 5 stock dividend is declared and
  distributed at a time when the market price per
  share is 39.
• (b) The par value of the common stock is reduced
  to 2 with a 5-for-1 stock split.

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ACCT 551 Week 6 Homework E16-6, E16-7, E16-12,
E16-22
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• E16-6 (Conversion of Bonds) 
•  On January 1, 2014, Gottlieb Corporation issued
  4,000,000 of 10-year, 8 convertible debentures
  at 102. Interest is to be paid semiannually on
  June 30 and December 31. Each 1,000 debenture
  can be converted into eight shares of Gottlieb
  Corporation 100 par value common stock after
  December 31, 2015.
• E16-7 (Issuance of Bonds with Warrants) 

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ACCT 551 Week 7 Homework E17-7, E17-9, E17-15
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• E17-7 (Trading Securities Entries) On December
  21, 2013, Bucky Katt Company provided you with
  the following information regarding its trading
  securities.
•  
• E17-9 (Available-for-Sale Securities Entries and
  Financial Statement Presentation) At December 31,
  2013, the available-for-sale equity portfolio for
  Steffi Graf, Inc. is as follows.

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ACCT 551 Expect Success/uophelp.com

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