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ACC 304 Course Extraordinary Success/
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ACC 304 Course Extraordinary Success/
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ACC 304 Final Exam Part 1 (3 Sets) For more
course tutorials visit www.tutorialrank.com 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. What
is the compensation expense recorded by Swing
High Inc.?
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ACC 304 Final Exam Part 2 (2 Sets) For more
course tutorials visit www.tutorialrank.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 .377
Present value of 1 for 20 periods at 6
.312 Present value of annuity for
10 periods at 10 6.145
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ACC 304 Week 1 Chapter 8 Homework For more course
tutorials visit www.tutorialrank.com 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.
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ACC 304 Week 2 Chapter 8 Quiz (All Possible
Questions) For more course tutorials
visit www.tutorialrank.com ACC 304 Week 2 Quiz
Strayer NEW CHAPTER 8 VALUATION OF
INVENTORIESA COST-BASIS APPROACH IFRS questions
are available at the end of this chapter. TRUE
FALSEConceptual
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ACC 304 Week 2 Chapter 9 Homework For more course
tutorials visit www.tutorialrank.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.
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ACC 304 Week 3 Chapter 9 Quiz (All Possible
Questions) For more course tutorials
visit www.tutorialrank.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. 3. The
purpose of the floor in lower-of-cost-or-market
considerations is to avoid overstating inventory.
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ACC 304 Week 3 Chapter 10 Homework For more
course tutorials visit www.tutorialrank.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 Hansons weighted-average
accumulated expenditure for interest
capitalization purposes.
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ACC 304 Week 4 Chapter 10 Quiz (All Possible
Questions) For more course tutorials
visit www.tutorialrank.com Week 4 Quiz 3
Chapter 10 ACQUISITION AND DISPOSITION OF
PROPERTY, PLANT, AND EQUIPMENT IFRS questions are
available at the end of this chapter. TRUE-FALSEC
onceptual 1. Assets classified as
Property, Plant, and Equipment can be either
acquired for use in operations, or acquired for
resale.
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ACC 304 Week 4 Chapter 11 Homework For more
course tutorials visit www.tutorialrank.com ACC
304 Week 4 Chapter 11 Homework1) 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.
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ACC 304 Week 5 Midterm Part 1 (Set 1) For more
course tutorials visit www.tutorialrank.com The
book value of a plant asset is The asset
turnover ratio is computed by dividing 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
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ACC 304 Week 5 Midterm Part 1 (Set 2) For more
course tutorials visit www.tutorialrank.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?
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ACC 304 Week 5 Midterm Part 1 (Set 3) For more
course tutorials visit www.tutorialrank.com 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.
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ACC 304 Week 5 Midterm Part 2 For more course
tutorials visit www.tutorialrank.com 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 c) At the end of
2015, which method results in the larger
accumulated depreciation amount?
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ACC 304 Week 6 Chapter 12 Homework For more
course tutorials visit www.tutorialrank.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 Divisions 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 Waters journal entry to
record impairment of the goodwill.
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ACC 304 Week 7 Chapter 12 Quiz (All Possible
Questions) For more course tutorials
visit www.tutorialrank.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-FALSEConceptual
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ACC 304 Week 7 Chapter 13 Homework For more
course tutorials visit www.tutorialrank.com 1)
Takemoto Corporation borrowed 64,850 on
November 1, 2014, by signing a 68,450, 3-month,
zero-interest-bearing note. Prepare Takemotos
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.)
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ACC 304 Week 8 Assignment 1 Delta Airlines
Property, Plant, And Equipment For more course
tutorials visit www.tutorialrank.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 ccording 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.
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ACC 304 Week 8 Chapter 14 Homework For more
course tutorials visit www.tutorialrank.com 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
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ACC 304 Week 9 Chapter 13 and Chapter 14 Quiz
(All Possible Questions) For more course
tutorials visit www.tutorialrank.com ACC 304
Week 9 Quiz Strayer NEW Week 9 Quiz 5
Chapter 13, Quiz 6 Chapter 14
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ACC 304 Week 9 Chapter 15 Homework For more
course tutorials visit www.tutorialrank.com 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.
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ACC 304 Week 10 Chapter 15 Quiz (All Possible
Questions) For more course tutorials
visit www.tutorialrank.com ACC 304 Week 10 Quiz
Strayer NEW Week 10 Quiz 7 Chapter
15 STOCKHOLDERS EQUITY IFRS questions are
available at the end of this chapter. TRUE-FALSEC
onceptual
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ACC 304 Week 10 Chapter 16 Homework For more
course tutorials visit www.tutorialrank.com 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. Prepare the journal
entry to record the issuance of the bonds.
(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 the
amounts.) Account Titles and Explanation
Debit Credit
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The Best way to predict the Future is to create
it.....To Best way....
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