ACC 422 NERD Educational Resources - acc422nerd.com

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ACC 422 NERD Educational Resources /
acc422nerd.com
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ACC 422 NERD Educational Resources
ACC 422 Entire Course FOR MORE CLASSES
VISIT www.acc422nerd.com ACC 422 Week 1 DQ 1 ACC
422 Week 1 DQ 2 ACC 422 Week 1 DQ 3 ACC 422
Week 1 Individual Assignment Disclosure Analysis
Paper (2 Papers) ACC 422 Week 1 CPA Practice
Exam ACC 422 Week 1 Team Assignment Audited
Financial Statements (Nordstrom Inc.) ACC 422
Week 1 Individual WileyPlus Assignment (Exercise
7-2, 7-4, 7-8, 7-9, 7-13, 7-16, 8-3, 8-13) 100
Score ACC 422 Week 2 DQ 1
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ACC 422 NERD Educational Resources
ACC 422 Final Exam Guide 1 FOR MORE CLASSES
VISIT www.acc422nerd.com 1. Kraft Enterprises
owns the following assets at December 31, 2012.
Cash in banksavings account 67,516 Checking
account balance 26,445 Cash on hand 9,478 Postdate
d checks 753 Cash refund due from IRS 40,324
Certificates of deposit (180-day) 94,754 What
amount should be reported as cash? Question 2
Presented below is information related to
Rembrandt Inc.s inventory. (per unit)
Skis
Boots Parkas Historical Cost
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ACC 422 NERD Educational Resources
ACC 422 Final Exam Guide 2 FOR MORE CLASSES
VISIT www.acc422nerd.com 1) Which of the
following is NOT considered cash for financial
reporting purposes??2) What is the preferable
presentation of accounts receivable from
officers, employees, or affiliated companies on a
balance sheet??3) Which of the following is
considered cash??4) If a company employs the
gross method of recording accounts receivable
from customers, then sales discounts taken should
be reported as5) Assuming that the ideal measure
of short-term receivables in the balance sheet is
the discounted value of
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ACC 422 NERD Educational Resources
ACC 422 Final Exam Guide 3 FOR MORE CLASSES
VISIT www.acc422nerd.com SET 3 1) Which of the
following is NOT considered cash for financial
reporting purposes? 2) What is the preferable
presentation of accounts receivable from
officers, employees, or affiliated companies on a
balance sheet? 3) Which of the following items
should NOT be included in the Cash caption on the
balance sheet? 4) The advantage of relating a
company's bad debt expense to its outstanding
accounts receivable is that this approach 5)
Which of the following is a generally accepted
method of determining
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ACC 422 NERD Educational Resources
ACC 422 Final Exam Guide All 3 Sets FOR MORE
CLASSES VISIT www.acc422nerd.com Details of All
180 Questions Given Below SET 1 1. Kraft
Enterprises owns the following assets at December
31, 2012. Cash in banksavings account 67,516 Chec
king account balance 26,445 Cash on
hand 9,478 Postdated checks 753 Cash refund due
from IRS 40,324 Certificates of deposit
(180-day) 94,754 What amount should be reported
as cash? Question 2 Presented below is
information related to Rembrandt Inc.s
inventory. (per unit) Skis Boots Parkas
Historical Cost 273.79 152.75 76.37 Selling Price
312.70 208.95 106.27 Cost to distribute 27.38
11.53 3.60 Current replacement
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ACC 422 NERD Educational Resources
ACC 422 Week 1 CPA Practice Exam FOR MORE
CLASSES VISIT www.acc422nerd.com 1. What amount
should Herc report as inventory in its December
31, 2005, balance sheet? 2. What dollar-value
LIFO inventory cost would be reported in Cobb's
December 31, 2006, balance sheet? 3. Garson Co.
recorded goods in transit purchased FOB shipping
point at year-end as purchases. The goods were
excluded from the ending inventory. What effect
does the omission have on Garson's assets and
retained earnings at year end? 4. In accordance
with ASC Topic 255, the Consumer Price Index for
All Urban
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ACC 422 NERD Educational Resources
ACC 422 Week 1 DQ 1 FOR MORE CLASSES
VISIT www.acc422nerd.com Consider how an
organization must manage cash, receivables, and
inventory. Which of the three variables is the
most important to manage? Is one more susceptible
to fraud and errors than the others? Explain your
answer. How would a misstatement in each affect
the organization?
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ACC 422 NERD Educational Resources
ACC 422 Week 1 DQ 2 FOR MORE CLASSES
VISIT www.acc422nerd.com What is the perpetual
method of tracking inventory? How does it differ
from the periodic method of tracking
inventory? Why would a company choose one method
over the other method? Which is the best method?
Why?
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ACC 422 NERD Educational Resources
ACC 422 Week 1 DQ 3 FOR MORE CLASSES
VISIT www.acc422nerd.com What are the different
ways to estimate bad debt? How does this affect
net income? What does Generally Accepted
Accounting Principles (GAAP) require? Why? Should
all companies have bad debt? Explain your answer.
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ACC 422 NERD Educational Resources
ACC 422 Week 1 Individual Assignment Disclosure
Analysis Paper FOR MORE CLASSES
VISIT www.acc422nerd.com Resource Internet   Sele
ct a publicly held company to use as the basis
for this assignment.   Research your selected
company and acquire the companys most recent
financial statements using the Internet.  
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ACC 422 NERD Educational Resources
ACC 422 Week 1 Individual WileyPlus Assignment
(Exercise 7-2, 7-4, 7-8, 7-9, 7-13, 7-16, 8-3,
8-13) FOR MORE CLASSES VISIT www.acc422nerd.com
Complete the following Week 1 Assignment in
WileyPLUS Exercise 7-2 Exercise 7-4
Exercise 7-8 Exercise 7-9 Exercise 7-13
Exercise 7-16 Exercise 8-3 Exercise 8-13
Take a screenshot of your completed work, and
Click the Assignment Files tab to submit your
screenshot.
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ACC 422 NERD Educational Resources
ACC 422 Week 1 Team Assignment Audited Financial
Statements (Nordstrom Inc.) FOR MORE CLASSES
VISIT www.acc422nerd.com Each team is assigned a
publically traded company that they will use to
answer the questions in the Financial Scavenger
Hunt assigned each week. Team A Nordstrom Inc.
Team B Macy's Inc. Locate your assigned
company's latest audited financial statements and
post them on the assignment tab. Review the
financial statements, including any notes and
supplemental information, and answer the following
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ACC 422 NERD Educational Resources
ACC 422 Week 2 CPA Practice Exam FOR MORE
CLASSES VISIT www.acc422nerd.com 1. On June 18,
2005, Dell Printing Co. incurred the following
costs for one of its printing presses 2. The
overhaul resulted in a significant increase in
production. Neither the attachment nor the
overhaul increased the estimated useful life of
the press. What amount of the above costs should
be capitalized? 3. The following two inventory
items were purchased as a group in a liquidation
sale for 1,000. 4. The firm purchasing the
inventory records item A at what amount? 5. Which
of the following statements are correct
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ACC 422 NERD Educational Resources
ACC 422 Week 2 DQ 1 FOR MORE CLASSES
VISIT www.acc422nerd.com Under what circumstances
would a company need to estimate its
inventory? What are the differences between using
the gross profit method and retail inventory
method for estimating inventory? Which method of
estimation, gross profit or retail inventory, is
best? Explain your answer.
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ACC 422 NERD Educational Resources
ACC 422 Week 2 DQ 2 FOR MORE CLASSES
VISIT www.acc422nerd.com What are the criteria
for capitalization of fixed assets? What items
are included in the cost of a fixed asset? Should
interest be included in the cost of a fixed
asset? Explain why or why not.
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ACC 422 NERD Educational Resources
ACC 422 Week 2 DQ 3 FOR MORE CLASSES
VISIT www.acc422nerd.com How do we account for
the disposition of fixed assets? What are the
differences in how the exchanges of assets are
handled, pending on whether they are similar or
dissimilar? What is the rationale for these
differences? What is the impact to the companies
financial statements?
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ACC 422 NERD Educational Resources
ACC 422 Week 2 Individual WileyPlus Assignment
(Exercise 9-3, 9-12, 9-19, 10-2, 10-23, 10-24)
FOR MORE CLASSES VISIT www.acc422nerd.com Complet
e the following Week Two Assignment in WileyPLUS
Exercise 9-3 Exercise 9-12 Exercise 9-19
Exercise 10-2 Exercise 10-23 Exercise 10-24
Take a screenshot of your completed work, and
Click the Assignment Files tab to submit your
screenshot.
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ACC 422 NERD Educational Resources
ACC 422 Week 2 Team Assignment Textbook Problems
(P7-1, P7-2, P8-4) FOR MORE CLASSES
VISIT www.acc422nerd.com Prepare written
responses to the following assignments from Ch. 7
8 of Intermediate Accounting Problem 7-1
Problem 7-2 Problem 8-4 Click the Assignment
Files tab to submit your assignment.
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ACC 422 NERD Educational Resources
ACC 422 Week 3 CPA Practice Exam FOR MORE
CLASSES VISIT www.acc422nerd.com 1. Alta Co.
spent 400,000 during the current year developing
a new idea for a product that was patented during
the year. The legal cost of applying for a patent
license was 40,000. Also, 50,000 was spent to
successfully defend the rights of the patent
against a competitor. The patent has a life of 20
years. Under U.S. GAAP, what amount should Alta
capitalize related to the patent? 2. In 2005,
Ball Labs incurred the following costs 3. What
was Ball's total research and development expense
in 2005? 4. South Co. purchased a machine that
was installed and placed in service on January 1,
2004 at a cost of 240,000.
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ACC 422 NERD Educational Resources
ACC 422 Week 3 DQ 1 FOR MORE CLASSES
VISIT www.acc422nerd.com What is the purpose of
depreciation? Does the book value of a fixed
asset (cost minus accumulated depreciation)
communicate to a user what the asset is worth?
Explain why or why not. Should the financial
statements reflect the value of fixed assets?
Explain why or why not.
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ACC 422 NERD Educational Resources
ACC 422 Week 3 DQ 2 FOR MORE CLASSES
VISIT www.acc422nerd.com What are the different
methods used to calculate depreciation? How does
a company decide which method it should
utilize? How does its choice affect the financial
statements? Should companies standardize the
method of depreciation to enhance comparability?
Explain your answer.
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ACC 422 NERD Educational Resources
ACC 422 Week 3 DQ 3 FOR MORE CLASSES
VISIT www.acc422nerd.com What is an intangible
asset? Should all intangible assets be subject to
amortization? Explain why or why not. Why are
some intangible assets not amortized? What is the
implication to the financial statements?
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ACC 422 NERD Educational Resources
ACC 422 Week 3 Individual WileyPlus Assignment
Exercise 11-6, 11-9, 11-21, 12-1, 12-6, 12-8,
12-17 FOR MORE CLASSES VISIT www.acc422nerd.com
Complete the following Week Three Assignment in
WileyPLUS Exercise 11-6 Exercise 11-9
Exercise 11-21 Exercise 12-1 Exercise 12-6
Exercise 12-8 Exercise 12-17 Take a
screenshot of your completed work, and Click the
Assignment Files tab to submit your screenshot.
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ACC 422 NERD Educational Resources
ACC 422 Week 3 Team Assignment Textbook Problems
(P9-2, P9-4, P10-3, P10-4) FOR MORE CLASSES
VISIT www.acc422nerd.com Prepare written
responses to the following assignments from Ch. 9
10 of Intermediate Accounting Problem 9-2
Problem 9-4 Problem 10-3 Problem 10-4 Click the
Assignment Files tab to submit your assignment.
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ACC 422 NERD Educational Resources
ACC 422 Week 4 CPA Practice Exam FOR MORE
CLASSES VISIT www.acc422nerd.com 1. On September
30, World Co. borrowed 1,000,000 on a 9 note
payable. World paid the first of four quarterly
payments of 264,200 when due on December 30. In
its December 31, balance sheet, what amount
should World report as note payable? 2. Gain
contingencies are usually recognized in the
income statement when 3. For a bond issue which
sells for less than its par value, the market
rate of interest is 4. In December year 1, Mill
Co. began including one coupon in each package of
candy that it sells and offering a toy in
exchange for 50 cents and five coupons. The toys
cost Mill 80 cents each. Eventually
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ACC 422 NERD Educational Resources
ACC 422 Week 4 DQ 1 FOR MORE CLASSES
VISIT www.acc422nerd.com What are the criteria
for classifying an item as a current
liability? What are some examples of current
liabilities? Why is it important to classify a
portion of long-term debt on a yearly basis as a
current liability? What is the implication of
misclassifying a liability as current or
long-term?
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ACC 422 NERD Educational Resources
ACC 422 Week 4 DQ 2 FOR MORE CLASSES
VISIT www.acc422nerd.com What is a
contingency? Why are contingencies important to
users of financial statements? What are the
criteria for recording contingencies? Should
companies record a liability for threatened
litigation? Explain why or why not.
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ACC 422 NERD Educational Resources
ACC 422 Week 4 DQ 3 FOR MORE CLASSES
VISIT www.acc422nerd.com What is a bond? What are
some features of a bond? How do you value bonds?
What factors can affect that value?
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ACC 422 NERD Educational Resources
ACC 422 Week 4 Individual Wileyplus Assignment
Exercise 13-1, 13-3, 13-5, 13-8, 13-11, 14-4,
14-13 FOR MORE CLASSES VISIT www.acc422nerd.com
Resource WileyPLUS Complete the following Week
Four Assignment in WileyPLUS Exercise 13-1
Exercise 13-3 Exercise 13-5 Exercise 13-8
Exercise 13-11 Exercise 14-4 Exercise 14-13
Take a screenshot of your completed work, and
Click the Assignment Files tab to submit your
screenshot.
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ACC 422 NERD Educational Resources
ACC 422 Week 4 Team Assignment Financial
Scavenger Hunt 3 FOR MORE CLASSES
VISIT www.acc422nerd.com Review the financial
statements, including any notes and supplemental
information, and answer the following questions.
Indicate where you found the answer to the
questions. If calculations are required, show
your work. Fixed Assets and Intangibles 1. How
are plant and equipment recorded? 2. How are
leasehold improvements accounted for? 3. How are
assets depreciated? 4. How is impairment
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ACC 422 NERD Educational Resources
ACC 422 Week 4 Team Assignment Textbook Problems
(P11-1, P12-1) FOR MORE CLASSES
VISIT www.acc422nerd.com Prepare written
responses to the following assignments from Ch.
11 12 of Intermediate Accounting Problem
11-1 Problem 12-1 Click the Assignment Files
tab to submit your assignment.
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ACC 422 NERD Educational Resources
ACC 422 Week 5 DQ 1 FOR MORE CLASSES
VISIT www.acc422nerd.com What are the differences
between a direct-financing and a sales-type lease
for a lessor? Why would a lessor provide
direct-financing to a lessee? What types of
organizations provide direct-financing leases?
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ACC 422 NERD Educational Resources
ACC 422 Week 5 DQ 2 FOR MORE CLASSES
VISIT www.acc422nerd.com What are the criteria
for classifying a lease as operating or
capital? Why is there a difference between the
two? What are the implications of an operating
lease versus a capital lease on an entitys
financial statements?
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ACC 422 NERD Educational Resources
ACC 422 Week 5 DQ 3 FOR MORE CLASSES
VISIT www.acc422nerd.com What is residual
value? What is the implication to the lessee if
the residual value is guaranteed or
unguaranteed? What is the implication to the
lessor?
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ACC 422 NERD Educational Resources
ACC 422 Week 5 DQ 4 FOR MORE CLASSES
VISIT www.acc422nerd.com Week 5 DQ 4 What are
the advantages of operating and capital leases?
What are the disadvantages? Why would a company
pick one over the other?
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ACC 422 NERD Educational Resources
ACC 422 Week 5 Individual WileyPlus Assignment
Exercise 21-2, 21-4, 21-8 (Essay), 21-8, 21-13
FOR MORE CLASSES VISIT www.acc422nerd.com Complet
e the following Week Five Assignment in
WileyPLUS Exercise 21-2 Exercise 21-4
Exercise 21-8 (Essay) Exercise 21-8
Exercise 21-13 Take a screenshot of your
completed work, and Click the Assignment Files
tab to submit your screenshot.
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ACC 422 NERD Educational Resources
ACC 422 Week 5 Team Assignment Textbook Problems
(P13-10,P14-2, P21-3) FOR MORE CLASSES
VISIT www.acc422nerd.com Prepare written
responses to the following assignments from Ch.
13,14 21 of Intermediate Accounting Problem
13-10 Problem 14-2 Problem 21-3 Click the
Assignment Files tab to submit your assignment.
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