AC 501 Innovative Education--snaptutorial.com

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AC 501 Innovative Education--snaptutorial.com
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AC 501 Innovative Education--snaptutorial.com
AC 501 Unit 1 Homework Assignment For more
classes visit www.snaptutorial.com   E2-7
(Assumptions, Principles, and Constraints)
Presented below are the assumptions, principles,
and constraints used in this chapter. Economic
entity assumption 5.Historical-cost principle 9.
Materiality Going-concern assumption 6.Matching
principle 10. Industry practices
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AC 501 Innovative Education--snaptutorial.com
AC 501 Unit 2 Homework Assignment For more
classes visit www.snaptutorial.com   E4-4 INSTRUCT
IONS Prepare a classified balance sheet in good
form (No monetary amounts are necessary) E4-9 INST
RUCTIONS Restate the current assets and
liabilities sections of the balance sheet in
accordance with good accounting practice. (Assume
that both accounts receivable and accounts
payable are recorded gross.)
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AC 501 Innovative Education--snaptutorial.com
AC 501 Unit 3 Homework Assignment For more
classes visit www.snaptutorial.com   Exercise 7-5
(Recognition of Profit for Long-Term Contracts)
Andre Agassi Construction Company began
operations January 1, 2008. During the year,
Andre Agassi Construction entered into a contract
with Lindsey Davenport Corp. to construct a
manufacturing facility. At that time, Agassi
estimated that it would take 5 years to complete
the facility at a total cost of 4,500,000.
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AC 501 Innovative Education--snaptutorial.com
AC 501 Unit 4 Homework Assignment For more
classes visit www.snaptutorial.com   E10-12
(Depreciation Computations-SL, SYD, DDB) Montoni
Company purchases equipment on January 1, year 1,
at a cost of 469,000. The asset is expected to
have a service life of 12 years and a salvage
value of 40,000. Instructions Complete the
amount of depreciation for each years 1 through 3
using the straight-line depreciation
method. Complete the amount of depreciation for
each years 1 through 3 using the
sum-of-the-years-digits method.
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AC 501 Innovative Education--snaptutorial.com
AC 501 Unit 5 Homework Assignment For more
classes visit www.snaptutorial.com   Exercise
12-7  Exercise 12-18  Exercise 13-8  Exercise
13-22  Exercise 15-6  Exercise 15-22
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AC 501 Innovative Education--snaptutorial.com
AC 501 Unit 6 Homework Assignment For more
classes visit www.snaptutorial.com   E16-1
(Compensated Absences) Zero Mostel Company began
operations on January 2, 2008. It employs 9
individuals who work 8-hour days and are paid
hourly. Each employee earns 10 paid vacation days
and 6 paid sick days annually. Vacation days may
be taken after January 15 of the year following
the year in which they are earned. Sick days may
be taken as soon as they are earned unused sick
days accumulate.
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AC 501 Innovative Education--snaptutorial.com