ACCT 551 Teaching Effectively--tutorialrank.com

1
ACCT 551 Teaching Effectively--tutorialrank.com
2
ACCT 551 Teaching Effectively--tutorialrank.com
ACCT 551 Course Project (Notes to Financial
Statement) (2 Project) For more course tutorials
visit www.tutorialrank.com Tutorial Purchased 3
Times, Rating A    ACCT 551 Course Project
(Notes to Financial Statement) (2 Project)
3
ACCT 551 Teaching Effectively--tutorialrank.com
ACCT 551 Final Exam Set 1 For more course
tutorials visit www.tutorialrank.com Tutorial
Purchased 3 Times, Rating A  Question 1. (TCO
C) Which characteristic is not possessed by
intangible assets? Physical existence
4
ACCT 551 Teaching Effectively--tutorialrank.com
ACCT 551 Final Exam Set 2 For more course
tutorials visit www.tutorialrank.com Tutorial
Purchased 4 Times, Rating A   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 Teaching Effectively--tutorialrank.com
ACCT 551 Midterm Exam Set 1 For more course
tutorials visit www.tutorialrank.com Tutorial
Purchased 4 Times, Rating A  Question 1. (TCO
C) The major problem of accounting for
intangibles is determining fair market
value. separability. salvage
value. useful life. Question 2. (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
6
ACCT 551 Teaching Effectively--tutorialrank.com
ACCT 551 Midterm Exam Set 2 For more course
tutorials visit www.tutorialrank.com Tutorial
Purchased 4 Times, Rating A  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
7
ACCT 551 Teaching Effectively--tutorialrank.com
ACCT 551 Week 1 Discussion BE12-2, BE12-3,
BE12-7, BE12-6, BE 12-12, Ex 12-15 For more
course tutorials visit www.tutorialrank.com Tutori
al Purchased 4 Times, Rating A  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. BE12-3 provides us repeated
practice to record amortization on intangible
asset?? The take away from BE12-7 is how to test
8
ACCT 551 Teaching Effectively--tutorialrank.com
ACCT 551 Week 1 Homework E12-5, E12-16 For more
course tutorials visit www.tutorialrank.com Tutori
al Purchased 4 Times, Rating A  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 Teaching Effectively--tutorialrank.com
ACCT 551 Week 2 Homework E13-11, E13-12,
P13-9 For more course tutorials
visit www.tutorialrank.com Tutorial Purchased 4
Times, Rating A  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 Teaching Effectively--tutorialrank.com
ACCT 551 Week 3 Homework P14-5, P14-6, P14-7 For
more course tutorials visit www.tutorialrank.com T
utorial Purchased 4 Times, Rating A    P14-5
(Comprehensive Bond Problem) In each of the
following independent cases the company closes
its books on December 31.
11
ACCT 551 Teaching Effectively--tutorialrank.com
ACCT 551 Week 4 Homework E15-2, E15-5, E15-6 For
more course tutorials visit www.tutorialrank.com T
utorial Purchased 4 Times, Rating A    EXERCISE
15-2 Facts Kathleen Battle Corporation was
organized on January 1, 2014. It is authorized to
issue 10,000 shares of 8, 100 par value
preferred stock, and 500,000 shares of no-par
common stock with a stated value of 1 per share.
The following transactions were completed during
the first year. Prepare entries to record the
transactions.
12
ACCT 551 Teaching Effectively--tutorialrank.com
ACCT 551 Week 5 Homework E15-15, E15-16 For more
course tutorials visit www.tutorialrank.com Tutori
al Purchased 4 Times, Rating A    E15-15
(Dividend Entries) The following data were taken
from the balance sheet accounts of Masefield
Corporation on December 31, 2013.
13
ACCT 551 Teaching Effectively--tutorialrank.com
ACCT 551 Week 6 Homework E16-6, E16-7, E16-12,
E16-22 For more course tutorials
visit www.tutorialrank.com Tutorial Purchased 4
Times, Rating A    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
14
ACCT 551 Teaching Effectively--tutorialrank.com
ACCT 551 Week 7 Homework E17-7, E17-9, E17-15 For
more course tutorials visit www.tutorialrank.com T
utorial Purchased 4 Times, Rating A    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.
15
ACCT 551 Teaching Effectively--tutorialrank.com