ACC 422 NERD successful learning / acc422nerd.com

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ACC 422 NERD successful learning / acc422nerd.com

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ACC 422 Final Exam Guide ( With EXCEL FILE, Score
29 30) FOR MORE CLASSES VISIT www.acc422nerd.com
This Tutorial contains excel File which can be
used to solve for any change in values Brief
Exercise 7-1 Brief Exercise 7-7 Brief Exercise
7-14 Brief Exercise 7-15 Brief Exercise 8-4 (Part
Level Submission) Brief Exercise 8-5 Brief
Exercise 8-6 Multiple Choice Question 21 Question
14 Brief Exercise 9-4 Exercise 9-4 Brief Exercise
10-6 Brief Exercise 10-8 Exercise 10-1 Question 9
Brief Exercise 11-8
3
ACC 422 Final Exam Guide (2017, With EXCEL FILE,
Score 29 30) FOR MORE CLASSES
VISIT www.acc422nerd.com   Brief Exercise 14-3
The Skysong Company issued 260,000 of 10 bonds
on January 1, 2017. The bonds are due January 1,
2022, with interest payable each July 1 and
January 1. The bonds were issued at 98. Prepare
the journal entries for (a) January 1, (b) July
1, and (c) December 31.
4
ACC 422 Final Exam Guide (New 2017, FILE, Score
29 30) FOR MORE CLASSES VISIT www.acc422nerd.com
Brief Exercise 7-7 Larkspur Family Importers
sold goods to Tung Decorators for 40,800 on
November 1, 2017, accepting Tungs 40,800,
6-month, 6 note. Prepare Larkspurs November 1
entry, December 31 annual adjusting entry, and
May 1 entry for the collection of the note and
interest.
5
ACC 422 Final Exam Guide (New 2017, With EXCEL
FILE) FOR MORE CLASSES VISIT www.acc422nerd.com
  Brief Exercise 10-6 Waterway Inc. purchased
land, building, and equipment from Laguna
Corporation for a cash payment of 327,600. The
estimated fair values of the assets are land
62,400, building 228,800, and equipment
83,200. At what amounts should each of the three
assets be recorded?
6
ACC 422 Final Exam Guide (New 2017, With EXCEL
FILE, Score 29 30) FOR MORE CLASSES
VISIT www.acc422nerd.com   This Tutorial contains
excel File which can be used to solve for any
change in values Brief Exercise 7-1 Brief
Exercise 7-7 Brief Exercise 7-14 Brief Exercise
7-15 Brief Exercise 8-4 (Part Level Submission)
Brief Exercise 8-5 Brief Exercise 8-6 Multiple
Choice Question 21 Question 14 Brief Exercise 9-4
7
ACC 422 Final Exam Guide (New 2017, With EXCEL
FILE, Score 29) FOR MORE CLASSES
VISIT www.acc422nerd.com   Architects fee on
building 26,200 (h) Cost of real estate purchased
as a plant site (land 209,100 and building
52,900) 262,000 (i) Commission fee paid to real
estate agency 8,970 (j) Installation of fences
around property 3,770 (k) Cost of razing and
removing building 11,710 (l) Proceeds from salvage
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ACC 422 Final Exam Guide (New 2017, With EXCEL
FILE, Score 30) FOR MORE CLASSES
VISIT www.acc422nerd.com   Question 9 Sage
Company purchased machinery for 174,300 on
January 1, 2017. It is estimated that the
machinery will have a useful life of 20 years,
salvage value of 14,700, production of 81,900
units, and working hours of 44,000. During 2017,
the company uses the machinery for 11,440 hours,
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ACC 422 Final Exam Guide (New 2017, With EXCEL
FILE, Score) FOR MORE CLASSES
VISIT www.acc422nerd.com   The receipts are
enclosed in parentheses. (a) Money borrowed to
pay building contractor (signed a
note) (285,400 ) (b) Payment for construction
from note proceeds 285,400 (c) Cost of land fill
and clearing 11,790 (d) Delinquent real estate
taxes on property assumed by purchaser 7,300 (e) P
remium on 6-month insurance policy during
construction 8,580 (f) Refund of 1-month
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ACC 422 Final Exam Guide (New 2017, With EXCEL)
FOR MORE CLASSES VISIT www.acc422nerd.com   Purch
ases to February 10, 2017 1,104,580 Freight-in to
February 10, 2017 59,180 Rate of gross profit on
selling price 35 What is the approximate
inventory on February 10, 2017? Exercise 9-4
Martinez Company began operations in 2017 and
determined its ending inventory at cost and at
LCNRV at December 31, 2017, and December 31,
2018. This information is presented below.
Cost Net Realizable Value 12/31/17 322,170
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ACC 422 Final Exam Guide (New 2017, With FILE,
Score 29 30) FOR MORE CLASSES
VISIT www.acc422nerd.com   development projects
the equipment has an alternative future
use 87,400 Costs of developing a secret formula
for a product that is expected to be marketed for
at least 20 years 83,800 (a) On the basis of this
information, compute the total amount to be
reported by Marin for intangible assets on its
balance sheet at year-end. Brief Exercise 13-2
Ivanhoe Company borrowed 30,000 on November 1,
2017
12
ACC 422 Final Exam Guide (New 2017, With) FOR
MORE CLASSES VISIT www.acc422nerd.com   Compute
the April 30 inventory and the April cost of
goods sold using the LIFO method. Multiple Choice
Question 21 Which of the following inventories
carried by a manufacturer is similar to the
merchandise inventory of a retailer? Question 14
A fire destroys all of the merchandise of
Shamrock Company on February 10, 2017. Presented
below is information compiled up to the date of
the fire. Inventory, January 1, 2017
432,200 Sales revenue to February 10,
2017 1,935,200 Purchases to February 10,
2017 1,104,580 Freight-in
13
ACC 422 Final Exam Guide (New 2017,EXCEL FILE, 29
30) FOR MORE CLASSES VISIT www.acc422nerd.com  
Martinez expects 124,050 of warranty costs over
the next 2 years. In that year, Martinez spent
70,460 servicing warranty claims. Prepare
Martinezs journal entry to record the sales
(ignore cost of goods sold) and the December 31
adjusting entry, assuming the expenditures are
inventory costs. Brief Exercise 14-3 The Skysong
Company issued 260,000 of 10 bonds on January
1, 2017.
14
ACC 422 Final Exam Guide (New 2017,EXCEL FILE,
Score 29 30) FOR MORE CLASSES
VISIT www.acc422nerd.com   The expected future
net cash flows from the use of the asset are
expected to be 560,000. The fair value of the
equipment is 448,000. Prepare the journal entry,
if any, to record the impairment loss. Brief
Exercise 12-8 Concord Corporation purchased
Johnson Company 3 years ago and at that time
recorded goodwill of 330,000. The Johnson
Divisions net assets, including the goodwill
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ACC 422 Final Exam Guide FOR MORE CLASSES
VISIT www.acc422nerd.com   Brief Exercise 8-6
Your answer is correct. Sandhill Company uses a
periodic inventory system. For April, when the
company sold 600 units, the following information
is available. Units Unit Cost Total Cost April 1
inventory 270 30 8,100 April 15
purchase 440 36 15,840 April 23
purchase 290 39 11,310 1,000 35,250 Compute the
April 30 inventory and the April cost of goods
sold using the LIFO method. Multiple Choice
Question 21 Which of the following inventories
carried by a manufacturer is similar to the
merchandise inventory of a retailer? Question 14
A fire destroys all of the merchandise of
16
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