ACCT 551 Possible Is Everything--snaptutorial.com

1
ACCT 551 Possible Is Everything/snaptutorial.com
2
ACCT 551 Possible Is Everything/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)  
3
ACCT 551 Possible Is Everything/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  
4
ACCT 551 Possible Is Everything/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  
5
ACCT 551 Possible Is Everything/snaptutorial.com
ACCT 551 Midterm Exam Set 1 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  
6
ACCT 551 Possible Is Everything/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  
7
ACCT 551 Possible Is Everything/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.  
8
ACCT 551 Possible Is Everything/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.  
9
ACCT 551 Possible Is Everything/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.  
10
ACCT 551 Possible Is Everything/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. r cash.)  
11
ACCT 551 Possible Is Everything/snaptutorial.com
ACCT 551 Week 4 Homework E15-2, E15-5, E15-6 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. r cash.)  
12
ACCT 551 Possible Is Everything/snaptutorial.com
ACCT 551 Week 5 Homework E15-15, E15-16   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. r cash.)  
13
ACCT 551 Possible Is Everything/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)  
14
ACCT 551 Possible Is Everything/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. E17-15 (Equity
InvestmentsTrading) Kenseth Company has the
following securities in its trading port- folio
of securities on December 31, 2013.  
15
ACCT 551 Possible Is Everything/snaptutorial.com