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ACC 537 Expect Success/Uophelp.Com
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ACC 537 Assignment IFRS Convergence with FASB (2
Papers, 1050 words each) For more course
tutorials visit www.uophelp.com       ACC 537
Assignment IFRS Convergence with FASB (2 Papers,
1050 words each)
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ACC 537 Week 1 Assignment Current Issues in
Accounting For more course tutorials
visit www.uophelp.com      Write a 700- to
1,050-word summary discussing the points listed
below. The summary should be structured in a
subject-by-subject format. An introduction and a
conclusion are needed. Your essay should include
the answers to the following Explain how
accounting assists in the efficient use of scarce
resources
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ACC 537 Week 1 Textbook Problems- P7-1Francis
Equipment Co For more course tutorials
visit www.uophelp.com       P7-1 (Determine
Proper Cash Balance) Francis Equipment Co. closes
its books regularly on December 31, but at the
end of 2014 it held its cash book open so that a
more favorable balance sheet could be prepared
for credit purposes. Cash receipts and
disbursements for the first 10 days of January
were recorded as December transactions. The
information is given below.
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ACC 537 Week 2 E8-21 LIFO Effect For more
course tutorials visit www.uophelp.com      E8-21
(LIFO Effect) The following example was provided
to encourage the use of the LIFO method. In a
nutshell, LIFO subtracts inflation from inventory
costs, deducts it from taxable income, and
records it in a LIFO reserve account on the
books. The LIFO benefit grows as inflation widens
the gap between current-year and past-year (minus
inflation) inventory costs. This gap is  
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ACC 537 Week 2 Textbook Problem P7-4 Bad-Debt
Reporting (Fortner Corporation) For more course
tutorials visit www.uophelp.com      P7-4
(Bad-Debt Reporting) From inception of operations
to December 31, 2014, Fortner Corporation
provided for uncollectible accounts receivable
under the allowance method. Provisions were made
monthly at 2 of credit sales, bad debts written
off were charged to the allowance account
recoveries of bad debts previously written off
were credited to the allowance account, and no
year-end adjustments to the allowance account
were made. Fortners usual credit terms are net
30 days. The balance in Allowance for Doubtful
Accounts was 130,000 at January 1, 2014. During
2014, credit sales
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ACC 537 Week 2 Textbook Problems P10-2 Lobo
Corporation (Team Paper and Solution) For more
course tutorials visit www.uophelp.com     P10-2
(Classification of Acquisition Costs) Selected
accounts included in the property, plant, and
equipment section of Lobo Corporationu2019s
balance sheet at December 31, 2013, had the
following balances. Land 300,000 Land
improvements 140,000 Buildings 1,100,000 Equipment
960,000 During 2014, the following transactions
occurred. 1. A tract of land was acquired for
150,000 as a potential future building site.
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ACC 537 Week 3 Textbook Problem 11-4 Per Company
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ACC 537 Week 3 Textbook Problem 11-4 Per Company
Truck
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ACC 537 Week 3 Textbook Problem P13-4 Otis
Import Company (Team Paper and Solution) For
more course tutorials visit www.uophelp.com      
Below is a payroll sheet for Otis Import Company
for the month of September 2014. The company is
allowed a 1 unemployment compensation rate by
the state the federal unemployment tax rate is
0.8 and the maximum for both is 7,000. Assume a
10 federal income tax rate for all employees and
a 7.65 FICA tax on employee and employer on a
maximum of 113,700. In addition, 1.45 is
charged both employer and employee for an
employees wages in excess of 113,700 per
employee.    
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ACC 537 Week 4 Assignment Leases For more
course tutorials visit www.uophelp.com    Write a
700- to 1,050-word summary discussing the points
listed below   Identify the two recognized
lease-accounting methods for lessees and
distinguish between them.   Distinguish between
minimum rental payments and minimum lease
Payments                                          
                                                  
                 Distinction between a
direct-financing lease and a sales-type
lease Conclusion
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ACC 537 Week 4 Textbook P13-13 (Liability
Errors) Millay Corporations (Memo and Solution)
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    P13-13 (Liability Errors) You are the
independent auditor engaged to audit Millay
Corporation's December 31, 2014, financial
statements. Millay manufactures household
appliances. During the course of your audit, you
discovered the following contingent liabilities.  
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ACC 537 Week 4 Textbook Problem P15-4, E21-2
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    P15-4 (Stock TransactionsLump Sum) Seles
Corporations charter authorized issuance of
100,000 shares of 10 par value common stock and
50,000 shares of 50 preferred stock. The
following transactions involving the issuance of
shares of stock were completed. Each transaction
is independent of the others.   1. Issued a
10,000, 9 bond payable at par and gave as a
bonus one share of preferred stock, which at that
time was selling for 106 a share. 2. Issued 500
shares of common stock for equipment. The
equipment had been appraised at 7,100 the
sellers
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ACC 537 Week 5 Assignment Securities (630 Words)
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    Distinguish between a debt security and
equity security What purpose does the variety
in bond features (types and characteristics)
serve? What is meant by "Yield to
Maturity"? Identify and explain the three types
of classifications for investments in debt
securities.
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ACC 537 Week 5 Textbook Problem P17-7 Wildcat
Company For more course tutorials
visit www.uophelp.com    P17-7 (Available-for-Sale
and Held-to-Maturity Debt Securities Entries)
The following information relates to the debt
securities investments of Wildcat
Company.                                          
                                                  
                                                  
                                                  
     1. On February 1, the company purchased 10
bonds of Gibbons Co. having a par value of
300,000 at 100 plus accrued interest. Interest
is payable April 1 and October 1.
                                                  
                                   
                                                  
                                                  
        2. On April 1, semiannual interest is
received.                                         
                                                  
                                                  
                                                  
           
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ACC 537 Week 5 Textbook Problem P20-1
Cunningham/Harrington Company For more course
tutorials visit www.uophelp.com       P20-1. On
Jan 1, 2014cunningham/Harrington company has the
following defined benefit pension plan balances.
Projected benefit obligation 4,500,000 Fair value
of plan assets 4,200,000 The interest
(settlement) rate applicable to the plan is 10.
On Jan 1, 2015 the company amends its pension
agreement so that prior service costs of 500,00
are created. other data related to the pension
plan are as follows. Year 2014 Service 150,000
Prior service cost amortization 0 Contribution
(funding) to the plan 240,000 benefits paid
200,000 actual return on plan assets 252,000
expected rate of return on assets 6 Year 2015
Service cost 180,000 prior service cost
.                                                 
            
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ACC 537 Week 6 CA22-4 Analysis of Various
Accounting Changes and Errors (Solution and
Presentation) For more course tutorials
visit www.uophelp.com    This Tutorial contains
both Solution and Presentation   CA22-4 (Analysis
of Various Accounting Changes and Errors)
Katherine Irving, controller of Lotan Corp., is
aware of a pronouncement on accounting changes.
After reading the pronouncement, she is confused
about what action should be taken on the
following items related to Lotan Corp. for the
year 2014.                                        
                                                  
                                                  
                                                  
                                         
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                   
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