ACC 304 Course Real Knowledge / tutorialrank.com

1
ACC 304 Course Real Knowledge /tutorialrank.com
The Best way to predict the Future is to create
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ACC 304 Course Real Knowledge /tutorialrank.com
ACC 304 Final Exam Part 1 (3 Sets) For more
course tutorials visit www.tutorialrank.com   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 Real Knowledge /tutorialrank.com
ACC 304 Final Exam Part 2 (2 Sets) For more
course tutorials visit www.tutorialrank.com     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
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ACC 304 Course Real Knowledge /tutorialrank.com
ACC 304 Week 1 Chapter 8 Homework For more course
tutorials visit www.tutorialrank.com     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 Course Real Knowledge /tutorialrank.com
ACC 304 Week 2 Chapter 8 Quiz (All Possible
Questions) For more course tutorials
visit www.tutorialrank.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. TRUE
FALSEConceptual   1. A manufacturing
concern would report the cost of units only
partially processed as inventory in the balance
sheet. 2. Both merchandising and
manufacturing companies normally have multiple
inventory accounts.
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ACC 304 Course Real Knowledge /tutorialrank.com
ACC 304 Week 2 Chapter 9 Homework For more course
tutorials visit www.tutorialrank.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-market inventory value for each
item.  
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ACC 304 Course Real Knowledge /tutorialrank.com
ACC 304 Week 3 Chapter 9 Quiz (All Possible
Questions) For more course tutorials
visit www.tutorialrank.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.
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ACC 304 Course Real Knowledge /tutorialrank.com
ACC 304 Week 3 Chapter 10 Homework For more
course tutorials visit www.tutorialrank.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.
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ACC 304 Course Real Knowledge /tutorialrank.com
ACC 304 Week 4 Chapter 10 Quiz (All Possible
Questions) For more course tutorials
visit www.tutorialrank.com   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-FALSEC
onceptual 1. Assets classified as
Property, Plant, and Equipment can be either
acquired for use in operations, or acquired for
resale.
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ACC 304 Course Real Knowledge /tutorialrank.com
ACC 304 Week 4 Chapter 11 Homework For more
course tutorials visit www.tutorialrank.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. 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 Course Real Knowledge /tutorialrank.com
ACC 304 Week 5 Midterm Part 1 (Set 1) For more
course tutorials visit www.tutorialrank.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 15,000. The machinery will be
depreciated over eight years using the
sum-of-the-years'-digits method. If depreciation
is computed on the basis of the nearest full
month,
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ACC 304 Course Real Knowledge /tutorialrank.com
ACC 304 Week 5 Midterm Part 1 (Set 2) For more
course tutorials visit www.tutorialrank.com   Mult
iple 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   Porter Resources Company
acquired a tract of land containing an
extractable natural resource. Porter is required
by its purchase contract to restore the land to a
condition suitable for recreational
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ACC 304 Course Real Knowledge /tutorialrank.com
ACC 304 Week 5 Midterm Part 1 (Set 3) For more
course tutorials visit www.tutorialrank.com   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 Course Real Knowledge /tutorialrank.com
ACC 304 Week 5 Midterm Part 2 For more course
tutorials visit www.tutorialrank.com   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?  
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ACC 304 Course Real Knowledge /tutorialrank.com
ACC 304 Week 6 Chapter 12 Homework For more
course tutorials visit www.tutorialrank.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 goodwill.
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ACC 304 Course Real Knowledge /tutorialrank.com
ACC 304 Week 6 Chapter 12 Homework For more
course tutorials visit www.tutorialrank.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 goodwill.
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ACC 304 Course Real Knowledge /tutorialrank.com
ACC 304 Week 7 Chapter 13 Homework For more
course tutorials visit www.tutorialrank.com     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 Course Real Knowledge /tutorialrank.com
ACC 304 Week 8 Assignment 1 Delta Airlines
Property, Plant, And Equipment For more course
tutorials visit www.tutorialrank.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.  
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ACC 304 Course Real Knowledge /tutorialrank.com
ACC 304 Week 8 Chapter 14 Homework For more
course tutorials visit www.tutorialrank.com   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 Real Knowledge /tutorialrank.com
ACC 304 Week 9 Chapter 13 and Chapter 14 Quiz
(All Possible Questions) For more course
tutorials visit www.tutorialrank.com   ACC 304
Week 9 Quiz Strayer NEW     Week 9 Quiz 5
Chapter 13, Quiz 6 Chapter 14       CURRENT
LIABILITIES AND CONTINGENCIES
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ACC 304 Course Real Knowledge /tutorialrank.com
ACC 304 Week 9 Chapter 15 Homework For more
course tutorials visit www.tutorialrank.com     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 Course Real Knowledge /tutorialrank.com
ACC 304 Week 10 Chapter 15 Quiz (All Possible
Questions) For more course tutorials
visit www.tutorialrank.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-FALSEC
onceptual 1. A corporation is
incorporated in only one state regardless of the
number of states in which it operates.
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ACC 304 Course Real Knowledge /tutorialrank.com
ACC 304 Week 10 Chapter 16 Homework For more
course tutorials visit www.tutorialrank.com   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 Real Knowledge /tutorialrank.com
The Best way to predict the Future is to create
it.....To Best way....
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