ACC 545 Complete Class

1
ACC 545

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2
ACC 545 Complete Class

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• ACC 545 Week 1 Individual Assignment CPA Report
• ACC 545 Week 2 Learning Team Assignment Los Lobos
  Ledger Preparation
• ACC 545 Week 3 Individual Assignment Jamona Corp.
  Scenario
• ACC 545 Week 4 Individual Assignment
  Restructuring Debt
• ACC 545 Week 5 Individual Assignment Lee
  Corporation Equity Scenario
• ACC 545 Week 6 Learning Team Assignment
  Consolidated Financial Statements

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ACC 545 Week 1 Individual Assignment CPA Report

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• As the CPA for a large organization, you were
  asked by your manager to provide information to
  outside CPAs who are examining a subsidiary that
  has been set up as a corporation. As part of
  their review, the CPAs have asked you to provide
  them with the following explanations
•  
• The methodology used to determine deferred taxes
• The procedures for reporting accounting changes
  and error corrections
• The rationale behind establishing the subsidiary
  as a corporation
•  
• Prepare your response to the three questions.
  Before submitting your response, your manager
  would like to know a little bit more about the
  request. She has asked you to tell her what your
  professional responsibilities are as a CPA, and
  the difference between a review and an audit.
•  
• You should provide draft responses to the above
  questions as well as providing your manager with
  a summary of your responsibilities in one
  document (no more than 1,050 words).

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ACC 545 Week 2 Learning Team Assignment Los
Lobos Ledger Preparation

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• ACC 545 Week 2 Learning Team Assignment Los Lobos
  Ledger Preparation

5
ACC 545 Week 3 Individual Assignment Jamona
Corp. Scenario

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• Review the following information 
• 1. On January 1, 2006, Jamona Corp. purchased 12
  bonds, having a maturity value of 300,000, for
  322,744.44. The bonds provide the bondholders
  with a 10 yield. They are dated January 1, 2006,
  and mature January 1, 2011, with interest
  receivable December 31 of each year. The company
  uses the effective-interest method to allocate
  unamortized discount or premium. The bonds are
  classified as available-for-sale. The fair value
  of the bonds at December 31 of each year is as
  follows 
• 2006 320,500
• 2007 309,000
• 2008 308,000
• 2009 310,000
• 2010 300,000 
• 1. The following information is available from
  Jamonas inventory records 
•                                                  
                      Units                    
  Unit Cost
• January 1, 2007 (beginning inventory)          
  600                         8.00
•  
• Purchases

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ACC 545 Week 4 Individual Assignment
Restructuring Debt

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• Your company is in financial trouble and is in
  the process of reorganization. Your manager wants
  to know how you will report on restructuring the
  debt. Use the following information to help with
  this assignment.

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ACC 545 Week 5 Individual Assignment Lee
Corporation Equity Scenario

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•          Review the following information
•  Lee Corporation, a U.S. company, began
  operations on January 1, 2004.
• During its first 3 years of operations, Lee
  reported net income and declared dividends as
  follows.
•  Net income              Dividends declared
• 2004              40,000                        
          0
• 2005              125,000                         
          50,000
• 2006              160,000                         
          50,000
•  
• The following information relates to 2007
•  Income before income tax 240,000
• Prior period adjustment understatement of 2005
  depreciation expense (before taxes) 25,000
• Cumulative decrease in income from change in
  inventory methods (before taxes) 35,000

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ACC 545 Week 6 Learning Team Assignment
Consolidated Financial Statements

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• Complete exercise 3-14, parts A, B, and C, on p.
  127 of Advanced Accounting (Crain
  Mechanics/Downey Enterprises).