ACC 304 help A Guide to career/Snaptutorial

1
ACC 304 help A Guide to career/ snaptutorial.com
The Best way to predict the Future is to create
it.....To Best way....
www.snaptutorial.com
2
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Final Exam Part 1 (3 Sets) For more
classes visit www.snaptutorial.com This Tutorial
contains 3 Set of Finals 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.
3
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Final Exam Part 2 (2 Sets) For more
classes visit www.snaptutorial.com ACC 304 Final
Exam Part 2 (2 Sets) 1 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
Present value of 1 for 20 periods at 5
.377
4
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 1 Chapter 8 Homework For more
classes visit www.snaptutorial.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. 2) Amsterdam Company uses
a periodic inventory system. For April, When the
company sold 600 units, The
5
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 2 Chapter 8 Quiz (All Possible
Questions) For more classes visit www.snaptutoria
l.com 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.
6
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 2 Chapter 9 Homework For more
classes visit www.snaptutorial.com 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-ma
rket inventory value for each item. 2) Bell,
Inc. buys 1,000 computer game CDs from a
distributor who is disconnecting those games. The
purchase price for the lot is 8,000.Bell will
group the CDs into three price categories for
resale, as indicated bellow. Determine the cost
per CD for each group, using the relative sales
value method.
7
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 3 Chapter 9 Quiz (All Possible
Questions) For more classes visit www.snaptutoria
l.com 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. 3. The purpose of the floor in
lower-of-cost-or-market considerations is to
avoid overstating inventory.
8
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 3 Chapter 10 Homework For more
classes visit www.snaptutorial.com 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. 2) Mehta Company traded a used
welding machine (cost 9,000, accumulated
depreciation 3,000) for office equipment with an
estimated fair value of 5,000. Mehta also paid
3,000 cash in the transaction. Prepare the
journal entry to record the exchange.
9
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 4 Chapter 10 Quiz (All Possible
Questions) For more classes visit www.snaptutoria
l.com ACC 304 Week 4 Quiz Strayer NEW 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 1. Assets
classified as Property, Plant, and Equipment can
be either acquired for use in operations, or
acquired for resale.
10
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 4 Chapter 11 Homework For more
classes visit www.snaptutorial.com 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-balance method.
11
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 5 Midterm Part 1 (Set 1) For more
classes visit www.snaptutorial.com 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
12
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 5 Midterm Part 1 (Set 2) For more
classes visit www.snaptutorial.com 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? Multiple
Choice Question 102
13
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 5 Midterm Part 1 (Set 3) For more
classes visit www.snaptutorial.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
14
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 5 Midterm Part 2 For more classes
visit www.snaptutorial.com 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 c) At the end of
2015, which method results in the larger
accumulated depreciation amount?
15
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 6 Chapter 12 Homework For more
classes visit www.snaptutorial.com 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
16
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 7 Chapter 12 Quiz (All Possible
Questions) For more classes visit www.snaptutoria
l.com 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.
17
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 7 Chapter 13 Homework For more
classes visit www.snaptutorial.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-beari
ng 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
18
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 8 Assignment 1 Delta Airlines
Property, Plant, And Equipment For more classes
visit www.snaptutorial.com 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 According to the textbook,
U.S. companies and foreign companies are affected
by deprecation rules. When companies write off
the cost of long-lived assets over a period of
time, the term used is depreciation.
19
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 8 Chapter 14 Homework For more
classes visit www.snaptutorial.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.
20
ACC 304 help A Guide to career/ snaptutorial.com
 ACC 304 Week 9 Chapter 13 and Chapter 14 Quiz
(All Possible Questions) For more classes
visit www.snaptutorial.com Week 9 Quiz 5
Chapter 13, Quiz 6 Chapter 14 CURRENT
LIABILITIES AND CONTINGENCIES IFRS questions
are available at the end of this chapter.
TRUE-FALSEConceptual
21
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 9 Chapter 15 Homework For more
classes visit www.snaptutorial.com 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.
22
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 10 Chapter 15 Quiz (All Possible
Questions) For more classes visit www.snaptutoria
l.com 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 1. A
corporation is incorporated in only one state
regardless of the number of states in which it
operates.
23
ACC 304 help A Guide to career/ snaptutorial.com
ACC 304 Week 10 Chapter 16 Homework For more
classes visit www.snaptutorial.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
24
ACC 304 help A Guide to career/ snaptutorial.com
The Best way to predict the Future is to create
it.....To Best way....
www.snaptutorial.com