ACCT 551 Course Inspiring Minds / tutorialrank.com

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ACCT 551 Course Inspiring Minds/ tutorialrank.com
The Best way to predict the Future is to create
it.....To Best way....
www.tutorialrank.com
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ACCT 551 Course Inspiring Minds/ tutorialrank.com
ACCT 551 Course Project (Notes to Financial
Statement) (2 Project)
ACCT 551 Course Project (Notes to Financial
Statement) (2 Project)
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ACCT 551 Course Inspiring Minds/ tutorialrank.com
ACCT 551 Final Exam Set 1
Question 1. (TCO C) Which characteristic is not
possessed by intangible assets? Physical
existence Short-lived Result in
future benefits
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ACCT 551 Course Inspiring Minds/ tutorialrank.com
ACCT 551 Final Exam Set 2
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 Course Inspiring Minds/ tutorialrank.com
ACCT 551 Midterm Exam Set 1
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 Course Inspiring Minds/ tutorialrank.com
ACCT 551 Midterm Exam Set 2
Question 1. (TCO C) The major problem of
accounting for intangibles is determining
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
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ACCT 551 Course Inspiring Minds/ tutorialrank.com
ACCT 551 Week 1 Discussion BE12-2, BE12-3,
BE12-7, BE12-6, BE 12-12, Ex 12-15
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 Course Inspiring Minds/ tutorialrank.com
ACCT 551 Week 1 Homework E12-5, E12-16
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 Course Inspiring Minds/ tutorialrank.com
ACCT 551 Week 2 Homework E13-11, E13-12, P13-9
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 Course Inspiring Minds/ tutorialrank.com
ACCT 551 Week 3 Homework P14-5, P14-6, P14-7
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 Course Inspiring Minds/ tutorialrank.com
ACCT 551 Week 4 Homework E15-2, E15-5, E15-6
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 Course Inspiring Minds/ tutorialrank.com
ACCT 551 Week 5 Homework E15-15, E15-16
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.
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ACCT 551 Course Inspiring Minds/ tutorialrank.com
ACCT 551 Week 6 Homework E16-6, E16-7, E16-12,
E16-22
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.
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ACCT 551 Course Inspiring Minds/ tutorialrank.com
ACCT 551 Week 7 Homework E17-7, E17-9, E17-15
x 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 Course Inspiring Minds/ tutorialrank.com
ACCT 551 Week 7 Homework E17-7, E17-9, E17-15
x 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 Course Inspiring Minds/ tutorialrank.com
The Best way to predict the Future is to create
it.....To Best way....
www.tutorialrank.com