ACCT 551 Course Success is a Tradition - snaptutorial.com

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ACCT 551Course Seek Your Dream / snaptutorial.com
The Best way to predict the Future is to create
it.....To Best way....
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ACCT 551Course Seek Your Dream / snaptutorial.com
ACCT 551 Course Project (Notes to Financial
Statement) (2 Project) For more classes
visit www.snaptutorial.com This Tutorial
contains 2 Different Course Project ACCT 551
Course Project (Notes to Financial Statement)
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ACCT 551Course Seek Your Dream / snaptutorial.com
ACCT 551 Final Exam Set 1 For more classes
visit www.snaptutorial.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 Question 2. (TCO C) Which
intangible assets are amortized?
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ACCT 551Course Seek Your Dream / snaptutorial.com
ACCT 551 Final Exam Set 2 For more classes
visit www.snaptutorial.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 551Course Seek Your Dream / snaptutorial.com
ACCT 551 Midterm Exam Set 1 For more classes
visit www.snaptutorial.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
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ACCT 551Course Seek Your Dream / snaptutorial.com
ACCT 551 Midterm Exam Set 2 For more classes
visit www.snaptutorial.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 Question 3.
Question (TCO C) A loss on impairment of an
intangible asset is the difference between the
assets
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ACCT 551Course Seek Your Dream / snaptutorial.com
ACCT 551 Week 1 Discussion BE12-2, BE12-3,
BE12-7, BE12-6, BE 12-12, Ex 12-15 For more
classes visit www.snaptutorial.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 551Course Seek Your Dream / snaptutorial.com
ACCT 551 Week 1 Homework E12-5, E12-16 For more
classes visit www.snaptutorial.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 551Course Seek Your Dream / snaptutorial.com
ACCT 551 Week 2 Homework E13-11, E13-12,
P13-9 For more classes visit www.snaptutorial.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 551Course Seek Your Dream / snaptutorial.com
ACCT 551 Week 3 Homework P14-5, P14-6, P14-7 For
more classes visit www.snaptutorial.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 P14-7 (Entries
for Life Cycle of Bonds) On April 1, 2014,
Seminole Company sold 15,000 of its 11 15-year,
1,000 face value bonds at 97.
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ACCT 551Course Seek Your Dream / snaptutorial.com
ACCT 551 Week 4 Homework E15-2, E15-5, E15-6 For
more classes visit www.snaptutorial.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.
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ACCT 551Course Seek Your Dream / snaptutorial.com
ACCT 551 Week 5 Homework E15-15, E15-16 For more
classes visit www.snaptutorial.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. (b) The
par value of the common stock is reduced to 2
with a 5-for-1 stock split.
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ACCT 551Course Seek Your Dream / snaptutorial.com
ACCT 551 Week 6 Homework E16-6, E16-7, E16-12,
E16-22 For more classes visit www.snaptutorial.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 551Course Seek Your Dream / snaptutorial.com
ACCT 551 Week 7 Homework E17-7, E17-9, E17-15 For
more classes visit www.snaptutorial.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.
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ACCT 551Course Seek Your Dream / snaptutorial.com
The Best way to predict the Future is to create
it.....To Best way....
www.snaptutorial.com