ACC 304 your Dreams Our Mission/uophelp.com

# ACC 304 your Dreams Our Mission/uophelp.com

## ACC 304 your Dreams Our Mission/uophelp.com

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1. ACC 304 your Dreams Our Mission/uophelp.com For more course tutorials visit www.uophelp.com

2. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Final Exam Part 1 (3 Sets) For more course tutorials visit www.uophelp.com This Tutorial contains 3 Set of Finals ACC 304 Final Exam Part 1 (3 Sets) 1 1) Swing High Inc. offers its 100 employees to participate in an employee share-purchase plan. Under the terms of plan, employees are entitled to purchase 10 shares at 10% discount. The par values of shares were \$10. Overall, 60 employees accepted the offer and each employee purchased six shares. The market price on purchase date was \$100.

3. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Final Exam Part 2 (2 Sets) For more course tutorials visit www.uophelp.com 1) On January 1, 2015, Piper Co. issued ten-year bonds with a face value of \$3,000,000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Table values are: Present value of 1 for 10 periods at 10% .386 Present value of 1 for 10 periods at 12% .322 Present value of 1 for 20 periods at 5%

4. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 1 Chapter 8 Homework For more course tutorials visit www.uophelp.com ACC 304 Week 1 Chapter 8 Homework 1) Matlock Company uses a perpetual inventory system. Its beginning inventory consists 50 units that cost \$34 each. During June , (1) the company purchased units at \$34 each, (2) returned 6 units for credit ,and (3) sold 125 unit at \$50 each. Journalize the June transactions. 2) Amsterdam Company uses a periodic inventory system. For April, When the company sold 600 units, The following information is available. calculate

5. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 2 Chapter 8 Quiz (All Possible Questions) For more course tutorials visit www.uophelp.com ACC 304 Week 2 Quiz – Strayer NEW CHAPTER 8 VALUATION OF INVENTORIES:A COST-BASIS APPROACH IFRS questions are available at the end of this chapter.

6. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 2 Chapter 9 Homework For more course tutorials visit www.uophelp.com ACC 304 Week 2 Chapter 9 Homework 1) Floyd Corporation has the following four items in its ending inventory. Determine the final lower-of-cost-or-market inventory value for each item. 2) Bell, Inc. buys 1,000 computer game CDs from a distributor who is disconnecting those games. The purchase price for the lot is \$8,000.Bell will group the CDs into three price categories for resale, as indicated bellow. Determine the cost per

7. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 3 Chapter 9 Quiz (All Possible Questions) For more course tutorials visit www.uophelp.com 1. A company should abandon the historical cost principle when the future utility of the inventory item falls below its original cost. 2. The lower-of-cost-or-market method is used for inventory despite being less conservative than valuing inventory at market value.

8. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 3 Chapter 10 Homework For more course tutorials visit www.uophelp.com ACC 304 Week 3 Homework (Chapter 10) 1) Hanson Company is constructing a building. Construction begins on February 1 and was completed on December 31. Expenditure were \$1,800,000 on march 1, \$1,200,000 on June 1, and \$3,000,000 on December 31. Compute Hanson’s weighted-average accumulated expenditure for interest capitalization purposes. 2) Mehta Company traded a used welding machine (cost \$9,000, accumulated depreciation \$3,000) for office equipment with an estimated

9. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 4 Chapter 10 Quiz (All Possible Questions) For more course tutorials visit www.uophelp.com ACC 304 Week 4 Quiz – Strayer NEW Week 4 Quiz 3: Chapter 10

10. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 4 Chapter 11 Homework For more course tutorials visit www.uophelp.com ACC 304 Week 4 Chapter 11 Homework 1) Lockard Company purchased machinery on January 1, 2014, for \$102,960. The machinery is estimated to have a salvage value of \$10,296 after a useful life of 8 years. 2) Compute 2014 depreciation expense using the double-declining-balance method.

11. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 5 Midterm Part 1 (Set 1) For more course tutorials visit www.uophelp.com 1. The book value of a plant asset is 2. The asset turnover ratio is computed by dividing 3. On September 19, 2014, Markham Co. purchased machinery for \$285,000. Salvage value was estimated to be \$15,000. The machinery will be depreciated over eight years using the sum-of-the-years'-digits method. If depreciation is computed on the basis of the nearest full month, Markham should record depreciation expense for 2015 on this machinery of

12. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 5 Midterm Part 1 (Set 2) For more course tutorials visit www.uophelp.com Multiple Choice Question 90 If Labor, Inc. uses the composite method and its composite rate is 7.5% per year, what entry should it make when plant assets that originally cost \$80,000 and have been used for 10 years are sold for \$24,000? Multiple Choice Question 102 Porter Resources Company acquired a tract of land containing an extractable natural resource. Porter is required by its purchase contract to restore

13. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 5 Midterm Part 1 (Set 3) For more course tutorials visit www.uophelp.com ACC 304 Week 5 Midterm Part 1 (Set 3) 1) Tongas Company applies revaluation accounting to plant assets with a carrying value of \$1,600,000, a useful life of 4 years, and no salvage value. Depreciation is calculated on the straight-line basis. At the end of year 1, independent appraisers determine that the asset has a fair value of \$1,500,000. The journal entry to adjust the plant assets to fair value and record revaluation surplus in year one will include a 2) Tongas Company applies revaluation accounting to plant assets with a carrying value of \$1,600,000, a useful life of 4 years, and no salvage value. Depreciation

14. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 5 Midterm Part 2 For more course tutorials visit www.uophelp.com ACC 304 Week 5 Midterm Part 2 1) 1) A machine which cost \$300,000 is acquired on October1, 2014. Its estimated salvage value is \$30,000 and its expected life is eight years. a) Calculate depreciation expense for 2014 and 2015 by double-declining balance b) Calculate depreciation expense for 2014 and 2015 by sum-of-the-years-digits

15. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 6 Chapter 12 Homework For more course tutorials visit www.uophelp.com ACC 304 Week 6 Chapter 12 Homework 1) Waters Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of \$400,000. The Johnson Division’s net assets, including the good well, have a carrying amount of \$800,000. The fair value of the division is estimated to be \$1,000,000.prepare Water’s journal entry to record impairment of the goodwill. 2) Treasure Land Corporation incurred the following costs in 2014. Prepare the necessary 2014 journal entry or entries for Treasure Land. 3) Sinise Industries acquired two copyrights during 2014. One copy right related to a text book that was developed internally at a cost of

16. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 7 Chapter 12 Quiz (All Possible Questions) For more course tutorials visit www.uophelp.com ACC 304 Week 7 Quiz – Strayer NEW Week 7 Quiz 4: Chapter 12 INTANGIBLE ASSETS IFRS questions are available at the end of this chapter. TRUE-FALSE—Conceptual

17. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 7 Chapter 13 Homework For more course tutorials visit www.uophelp.com ACC 304 Week 7 Chapter 13 Homework 1) Takemoto Corporation borrowed \$64,850 on November 1, 2014, by signing a \$68,450, 3-month, zero-interest-bearing note. Prepare Takemoto’s November 1, 2014, entry; the December 31, 2014, annual adjusting entry; and the February 1, 2015, entry. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

18. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 8 Assignment 1 Delta Airlines Property, Plant, And Equipment For more course tutorials visit www.uophelp.com ACC 304 WEEK 8 ASSIGNMENT 1 DELTA AIRLINES PROPERTY, PLANT, AND EQUIPMENT Assignment 1: Delta Airlines Property, Plant, and Equipment Due Week 8 and worth 200 points According to the textbook, U.S. companies and foreign companies are affected by deprecation rules. When companies write off the cost of long-lived assets over a period of time, the term used is depreciation. In order to complete this assignment, review

19. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 8 Chapter 14 Homework For more course tutorials visit www.uophelp.com ACC 304 Week 8 Chapter 14 Homework 1) Teton Corporation issued \$704,000 of 9% bonds on November 1, 2014, for \$745,018. The bonds were dated November 1, 2014, and mature in 8 years, with interest payable each May 1 and November 1. Teton uses the effective-interest method with an effective rate of 8%. Prepare Teton’s December 31, 2014, adjusting entry. (Round answers to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered

20. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 9 Chapter 13 and Chapter 14 Quiz (All Possible Questions) For more course tutorials visit www.uophelp.com ACC 304 Week 9 Quiz – Strayer NEW Week 9 Quiz 5: Chapter 13, Quiz 6: Chapter 14 CURRENT LIABILITIES AND CONTINGENCIES IFRS questions are available at the end of this chapter.

21. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 9 Chapter 15 Homework For more course tutorials visit www.uophelp.com ACC 304 Week 9 Chapter 15 Homework 1) Ravonette Corporation issued 375 shares of \$14 par value common stock and 128 shares of \$51 par value preferred stock for a lump sum of \$17,118. The common stock has a market price of \$20 per share, and the preferred stock has a market price of \$90 per share. Prepare the journal entry to record the issuance. (Round answers to 0 decimal places, e.g., 1520. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for

22. ACC 304 your Dreams Our Mission/uophelp.com ACC 304 Week 10 Chapter 16 Homework For more course tutorials visit www.uophelp.com ACC 304 Week 10 Chapter 16 Homework 1) Archer Inc. issued \$4,461,300 par value, 7% convertible bonds at 99 for cash. If the bonds had not included the conversion feature, they would have sold for 95.

23. ACC 304 your Dreams Our Mission/uophelp.com For more course tutorials visit www.uophelp.com