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ACCT 551 Course Project (Notes to Financial
Statement) (2 Project) FOR MORE CLASSES VISIT
www.acct551rank.com   This Tutorial contains 2
Different Course Project ACCT 551 Course
Project (Notes to Financial Statement)
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ACCT 551 Final Exam Set 1 FOR MORE CLASSES
VISIT www.acct551rank.com Question 1. (TCO C)
Which characteristic is not possessed by
intangible assets? Physical existence
Short-lived Result in future
benefits Expensed over current and/or
future years
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ACCT 551 Final Exam Set 2 FOR MORE CLASSES
VISIT www.acct551rank.com 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 Midterm Exam Set 1 FOR MORE CLASSES
VISIT www.acct551rank.com Question 1. (TCO C)
The major problem of accounting for intangibles
is determining fair market value.
separability. salvage value.
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ACCT 551 Midterm Exam Set 2 FOR MORE CLASSES
VISIT www.acct551rank.com 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 Week 1 Discussion BE12-2, BE12-3,
BE12-7, BE12-6, BE 12-12, Ex 12-15 FOR MORE
CLASSES VISIT www.acct551rank.com 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 Week 1 Homework E12-5, E12-16 FOR MORE
CLASSES VISIT www.acct551rank.com 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 Week 2 Homework E13-11, E13-12, P13-9
FOR MORE CLASSES VISIT www.acct551rank.com 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 Week 3 Homework P14-5, P14-6, P14-7
FOR MORE CLASSES VISIT www.acct551rank.com 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 Week 4 Homework E15-2, E15-5, E15-6
FOR MORE CLASSES VISIT www.acct551rank.com EXER
CISE 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 Week 5 Homework E15-15, E15-16 FOR
MORE CLASSES VISIT www.acct551rank.com 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 Week 6 Homework E16-6, E16-7, E16-12,
E16-22 FOR MORE CLASSES VISIT
www.acct551rank.com 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 Week 7 Homework E17-7, E17-9, E17-15
FOR MORE CLASSES VISIT www.acct551rank.com E17-7
(Trading Securities Entries) On December 21,
2013, Bucky Katt Company provided you with the
following information regarding its trading
securities.
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