ACC 306 Believe Possibilities--snaptutorial.com

1
ACC 306 Believe Possibilities--snaptutorial.com
2
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Entire Course (New) For more classes
visit www.snaptutorial.com   ACC 306 Week 1
Assignment E13-21, E13-22, P12-1, P12-7,P12-10,
P12-14, P13-6 ACC 306 Week 1 Quiz ACC 306 Week 1
DQ 1 Equity Method ACC 306 Week 1 DQ 1 Accounting
Pronouncements   ACC 306 Week 1 DQ 2 Judgment
Case 13-9 ACC 306 Week 2 Quiz ACC 306 Week 2 DQ 1
Ethics Case 14-8 Hunt Manufacturing Debt for
equity swaps
3
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 1 Assignment E13-21, E13-22, P12-1,
P12-7,P12-10, P12-14, P13-6 For more classes
visit www.snaptutorial.com   ACC 306 Week 1 Assign
ment E13-21, E13-22, P12-1, P12-7,P12-10, P12-14, 
P13-6
4
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 1 DQ 1 Accounting Pronouncements
For more classes visit www.snaptutorial.com   Acc
ounting Pronouncements. The Financial Accounting
Standards Board has issued accounting
pronouncements that affect how accounting
transactions should be treated. These
pronouncements may affect all companies or just
specific industries, but no pronouncements have
been issued that affect social media companies,
like Zynga and Facebook. In the Forbes article,
Social Media's Phony Accounting, written by
Francine McKenna, the author discusses how these
new rules are being invented. Read the article
and then
5
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 1 DQ 1 Equity Method For more
classes visit www.snaptutorial.com   P 1213 -  Mi
ller Properties - Equity method ? LO5 LO6 On Janua
ry 2, 2011, Miller Properties paid 19 million for
 1 million shares of Marlon Companys 6 million ou
tstanding common shares. Millers CEO became a mem
ber of Marlons board of directors during the firs
t quarter of 2011. The carrying amount of Marlons
 net assets was 66 million. Miller estimated the 
fair value of those ne
6
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 1 DQ 1 Equity Method For more
classes visit www.snaptutorial.com   P 1213 -  Mi
ller Properties - Equity method ? LO5 LO6 On Janua
ry 2, 2011, Miller Properties paid 19 million for
 1 million shares of Marlon Companys 6 million ou
tstanding common shares. Millers CEO became a mem
ber of Marlons board of directors during the firs
t quarter of 2011. The carrying amount of Marlons
 net assets was 66 million. Miller estimated the 
fair value of those ne
7
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 1 Quiz For more classes
visit www.snaptutorial.com   Question 1  Which
of the following may create employer liabilities
in connection with their payrolls? Question 2 
Current liabilities are normally recorded at the
amount expected to be paid rather than at their
present value. This practice can be supported by
GAAP according to the concept of Question 3 
The investment category for which the investor's
"positive intent and ability to hold" is
important is
8
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 2 Assignment E 14-16, E 14-18, E
15-25, P14-21, P15-3 For more classes
visit www.snaptutorial.com   ACC 306 Week 2
Assignment E 14-16, E 14-18, E 15-25, P14-21,
P15-3
9
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 2 DQ 1 Ethics Case 14-8 Hunt
Manufacturing Debt for equity swaps For more
classes visit www.snaptutorial.com   Ethics Case 1
48 - Hunt Manufacturing - Debt for equity swaps 
have your cake and eat it too ? LO5 The cloudy aft
ernoon mirrored the mood of the conference of divi
sion managers. Claude Meyer, assistant to the cont
roller for Hunt Manufacturing, wore one of the glo
omy faces that were just emerging from the confere
nce room. Wow, I knew it was bad, but not that ba
d, Claude thought to himself. I dont look forwa
rd to sharing those numbers with shareholders.
10
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 2 DQ 2 Ethics Case 15-4 Leasehold
Improvements For more classes
visit www.snaptutorial.com   Ethics Case 154 - Am
erican Movieplex - Leasehold improvements ? LO3 Am
erican Movieplex, a large movie theater chain, lea
ses most of its theater facilities. In conjunction
 with recent operating leases, the company spent 
28 million for seats and carpeting. The question b
eing discussed over break- fast on Wednesday morni
ng was the length of the depreciation period for t
hese leasehold improvements. The com- pany control
ler, Sarah Keene, was surprised by the suggestion 
of Larry Person, her new assistant.
11
ACC 306 Believe Possibilities--snaptutorial.com
  ACC 306 Week 2 Quiz For more classes
visit www.snaptutorial.com   Question 1  The
method used to pay interest depends on whether
the bonds are Question 2  Bond X and bond Y are
both issued by the same company. Each of the
bonds has a maturity value of 100,000 and each
matures in 10 years. Bond X pays 8 interest
while bond Y pays 9 interest. The current market
rate of interest is 8. Which of the following is
correct? Question 3  Which of the following
statements characterizes a leveraged lease?
12
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 3 Ethics Case 17-6 401(k) plan
contributions For more classes
visit www.snaptutorial.com   Ethics Case 176 - VX
I International - 401(k) plan contributions ? LO1
You are in your third year as internal auditor wit
h VXI International, manufacturer of parts and sup
plies for jet air- craft. VXI began a defined cont
ribution pension plan three years ago. The plan is
 a so-
13
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 3 Ethics Case 17-6 401(k) plan
contributions For more classes
visit www.snaptutorial.com   Ethics Case 176 - VX
I International - 401(k) plan contributions ? LO1
You are in your third year as internal auditor wit
h VXI International, manufacturer of parts and sup
plies for jet air- craft. VXI began a defined cont
ribution pension plan three years ago. The plan is
 a so-
14
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 3 Integrating Case 16-5 accounting
changes and error correction For more classes
visit www.snaptutorial.com   Integrating Case 165
 - Williams-Santana, Inc. - Tax effects of account
ing changes and error correction six situations ?
 LO1 LO2 LO8 Williams-Santana, Inc. is a manufactu
rer of high-tech industrial parts that was started
 in 1997 by two talented engineers with little bus
iness training. In 2011, the company was acquired 
by one of its major customers. As part of an inter
nal audit, the following facts were discovered. Th
e audit occ
15
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 3 Quiz For more classes
visit www.snaptutorial.com   Question 1  If a
company's deferred tax asset is not reduced by a
valuation allowance, the company believes it is
more likely than not that Question 2  Which of
the following statements typifies defined
contribution plans? Question 3  The annual
pension expense for what type of pension plan(s)
is recorded by a journal entry that includes a
debit to pension expense and a credit to the
pension asset or pension liability? Question 4 
Which of the following causes a temporary
difference between taxable and pretax accounting
income?
16
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 4 Assignment E 18-18, E 18-24, E
19-2, E 19-5, E 19-9, E 19-24, P 18-5 For more
classes visit www.snaptutorial.com   ACC 306 Week 
4 Assignment E 18-18, E 18-24, E 19-2, E 19-5, E 1
9-9, E 19-24, P 18-5
17
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 4 Communication Case 18-10 For
more classes visit www.snaptutorial.com   Communic
ation Case 1810 Should the present two-category d
istinction between liabilities and equity be retai
ned? Group interaction. ? LO1 The current conceptu
al distinction between liabilities and equity defi
nes liabilities independently of assets and equity
, with equity defined as a residual amount. The pr
esent proliferation of financial instruments that 
combine features of both debt 
18
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 4 Ethics Case 19-7 International
Network Solutions For more classes
visit www.snaptutorial.com   Ethics Case 197 Inte
rnational Network Solutions ? LO6 International Ne
twork Solutions provides products and services rel
ated to remote access networking. The company has 
grown rapidly during its first 10 years of operati
ons. As its segment of the industry has begun to m
ature, though, the fast growth of previous years h
as begun to slow. In fact, this year revenues and 
profits are roughly the same as last year. One mor
ning, nine weeks before the close of the fiscal ye
ar, Rob Mashburn, CFO, and Jessica Lane, controlle
r, were sharing coffee and ideas in Lanes office.
19
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 4 Quiz For more classes
visit www.snaptutorial.com   Question 1  Which
of the following will require a recalculation of
weighted-average shares outstanding for all years
presented? Question 2  Which of the following
statements is true when dividends are not
declared or paid on cumulative preferred stock?
20
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 5 Analysis Case 20-10 For more
classes visit www.snaptutorial.com   Analysis Case
 2010 - DRS Corporation - Various changes ? LO1 t
hrough LO4 DRS Corporation changed the way it depr
eciates its computers from the sum-of-the-years-d
igits method to the straight-line method beginning
 January 1, 2011. DRS also changed its estimated r
esidual value used in computing depreciation for i
ts office building. At the end of 2011, DRS change
d the specific subsidiaries constituting the group
 of companies for which 
21
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 5 Assignment E 20-18, P 21-11, P
21-14 For more classes visit www.snaptutorial.co
m   ACC 306 Week 5 Assignment E 20-18, P 21-11, P 
21-14
22
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 5 Ethics Case 20-5 Softening the
blow For more classes visit www.snaptutorial.com
  Ethics Case 205 Softening the blow ? LO1 LO2 L
O3 Late one Thursday afternoon, Joy Martin, a vete
ran audit manager with a regional CPA firm, was re
viewing documents for a long-time client of the fi
rm, AMT Transport. The year-end audit was schedule
d to begin Monday. For three months, the economy h
ad been in a down cycle and the transportation ind
ustry was parti
23
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 5 Ethics Case 21-7 For more
classes visit www.snaptutorial.com   Ethics Case 2
17 - Ben Naegle - Wheres the cash? ? LO1 LO3 Aft
er graduating near the top of his class, Ben Naegl
e was hired by the local office of a Big 4 CPA fir
m in his hometown. Two years later, impressed with
 his technical skills and experience, Park Electro
nics, a large regional consumer electronics chain,
 hired Ben as assistant controller. This was last 
week. Now Bens initial excitement has turned to d
istress.
24
ACC 306 Believe Possibilities--snaptutorial.com
ACC 306 Week 5 Final Lease Paper (2 Papers) For
more classes visit www.snaptutorial.com   ACC 306 
Week 5 Final Paper (Lease)
25
ACC 306 Believe Possibilities--snaptutorial.com