ACCT 551 Possible Is Everything--tutorialrank.com

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ACCT 551 Education on your terms/tutorialrank.com
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ACCT 551 Education on your terms/tutorialrank.com
ACCT 551 Course Project (Notes to Financial
Statement) (2 Project) For more course
tutorials visit www.tutorialrank.com ACCT 551
Course Project (Notes to Financial Statement) (2
Project)
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ACCT 551 Education on your terms/tutorialrank.com
ACCT 551 Final Exam Set 1 For more course
tutorials visit www.tutorialrank.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 course
tutorials visit www.tutorialrank.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 course
tutorials visit www.tutorialrank.com Question
1. (TCO C) The major problem of accounting for
intangibles is determining fair market
value. separability. salvage
value. useful life. Question 2. (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 patents,
and amortized over the legal life of the patent.
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ACCT 551 Midterm Exam Set 2 For more course
tutorials visit www.tutorialrank.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
course tutorials visit www.tutorialrank.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. BE12-3 provides us
repeated practice to record amortization on
intangible asset??
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ACCT 551 Week 1 Homework E12-5, E12-16 For more
course tutorials visit www.tutorialrank.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. E12-16 (Accounting for RD Costs) Leontyne
Price Company from time to time embarks on a
research pro- gram when a special project seems
to offer possibilities. In 2013, the company
expends 325,000 on a research project, but by
the end of 2013 it is impossible to determine
whether any benefit will be derived from it.
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ACCT 551 Week 2 Homework E13-11, E13-12, P13-9
For more course tutorials visit www.tutorialrank.
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. E13-12 (Premium Entries) No
Doubt Company includes 1 coupon in each box of
soap powder that it packs, and 10 coupons are
redeemable for a premium (a kitchen utensil). In
2014, No Doubt Company purchased 8,800 premiums
at 80 cents each and sold 110,000 boxes of soap
powder at 3.30 per box 44,000 coupons were
presented for redemption in 2014. It is estimated
that 60 of the coupons will eventually be
presented for redemption.
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ACCT 551 Week 3 Homework P14-5, P14-6, P14-7
For more course tutorials visit www.tutorialrank.
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 course tutorials visit www.tutorialrank.
com 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. E15-5 (Lump-Sum Sales of Stock
with Preferred Stock) Dave Matthew Inc. issues
500 shares of 10 par value common stock and 100
shares of 100 par value preferred stock for a
lump sum of 100,000. EXERCISE 15-6 (15th
edition)
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ACCT 551 Week 5 Homework E15-15, E15-16 For
more course tutorials visit www.tutorialrank.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 course tutorials
visit www.tutorialrank.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. E16-7
(Issuance of Bonds with Warrants)
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ACCT 551 Week 7 Homework E17-7, E17-9, E17-15
For more course tutorials visit www.tutorialrank.
com 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. E17-15 (Equity
InvestmentsTrading) Kenseth Company has the
following securities in its trading port- folio
of securities on December 31, 2013.
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ACCT 551 Education on your terms/tutorialrank.com