Acc 537 STUDY Great Stories /acc537study.com

1
Acc 537 STUDY Great Stories - acc537study.com
2
Acc 537 STUDY Great Stories - acc537study.com
ACC 537 Assignment IFRS Convergence with FASB (2
Papers 1050 words each) FOR MORE CLASSES VISIT
www.acc537study.com   ACC 537 Assignment IFRS
Convergence with FASB (2 Papers, 1050 words each)
3
Acc 537 STUDY Great Stories - acc537study.com
ACC 537 Week 1 Assignment Current Issues in
Accounting FOR MORE CLASSES VISIT
www.acc537study.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
4
Acc 537 STUDY Great Stories - acc537study.com
ACC 537 Week 1 Textbook Problems P7 1Francis
Equipment Co FOR MORE CLASSES VISIT
www.acc537study.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.
5
Acc 537 STUDY Great Stories - acc537study.com
ACC 537 Week 2 E8 21 LIFO Effect FOR MORE CLASSES
VISIT www.acc537study.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
6
Acc 537 STUDY Great Stories - acc537study.com
ACC 537 Week 2 Textbook Problem P7 4 Bad Debt
Reporting (Fortner Corporation) FOR MORE CLASSES
VISIT www.acc537study.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
7
Acc 537 STUDY Great Stories - acc537study.com
ACC 537 Week 2 Textbook Problems P10 2 Lobo
Corporation (Team Paper and Solution) FOR MORE
CLASSES VISIT www.acc537study.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
8
Acc 537 STUDY Great Stories - acc537study.com
ACC 537 Week 3 Textbook Problem 11 4 Per
Company FOR MORE CLASSES VISIT www.acc537study.co
m   ACC 537 Week 3 Textbook Problem 11-4 Per
Company Truck
9
Acc 537 STUDY Great Stories - acc537study.com
ACC 537 Week 3 Textbook Problem P13 4 Otis Import
Company (Team Paper and Solution) FOR MORE
CLASSES VISIT www.acc537study.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.
10
Acc 537 STUDY Great Stories - acc537study.com
ACC 537 Week 4 Assignment Leases FOR MORE CLASSES
VISIT www.acc537study.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
11
Acc 537 STUDY Great Stories - acc537study.com
ACC 537 Week 4 Textbook P13 13 (Liability Errors)
Millay Corporations (Memo and Solution) FOR MORE
CLASSES VISIT www.acc537study.com   13-13
(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.
12
Acc 537 STUDY Great Stories - acc537study.com
ACC 537 Week 4 Textbook Problem P15 4, E21 2 FOR
MORE CLASSES VISIT www.acc537study.com   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.
13
Acc 537 STUDY Great Stories - acc537study.com
ACC 537 Week 5 Assignment Securities FOR MORE
CLASSES VISIT www.acc537study.com   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.
14
Acc 537 STUDY Great Stories - acc537study.com
ACC 537 Week 5 Textbook Problem P17 7 Wildcat
Company FOR MORE CLASSES VISIT www.acc537study.co
m   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.



3. On July 1, 9 bonds of Sampson,
Inc. were purchased. These bonds with a par value
of 200,000 were
15
Acc 537 STUDY Great Stories - acc537study.com
ACC 537 Week 5 Textbook Problem P20 1 Cunningham
Company FOR MORE CLASSES VISIT www.acc537study.co
m   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
16
Acc 537 STUDY Great Stories - acc537study.com
ACC 537 Week 6 CA22 4 Analysis of Various
Accounting Changes and Errors (Solution and
Presentation) FOR MORE CLASSES VISIT
www.acc537study.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.
17
Acc 537 STUDY Great Stories - acc537study.com