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ACC 421 Final Exam Guide (New)/tutorialoutlet

FOR MORE CLASSES VISIT<br>www.acc421genius.com<br>if you are looking for customized help for this course<br>guaranteed above 90% score<br>you can email us at <br><br>uopashinfo@gmail.com<br><br><br>Number of Questions 30<br>Score atleast 90% easily with our EXCEL SHEET for any values (EVEN IF VALUES CHANGES) of below mentioned Question<br><br>Exercise 129 Prepare the necessary adjusting journal entries indicated by each item for the year ended December 31, 2017. <br>

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ACC 421 Final Exam Guide (New)/tutorialoutlet

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  1. ACC 421 Final Exam Guide (New)www.acc421genius.com

  2. ACC 421 Final Exam Guide (New) • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com •  Number of Questions 30 • Score atleast 90% easily with our EXCEL SHEET for any values (EVEN IF VALUES CHANGES) of below mentioned Question

  3. An income statement • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com • 1. An income statement. • 2. A retained earnings statement. • 3. A balance sheet.

  4. cash used (provided) by financing activities. 7 • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com • Splish Repair Shop had the following transactions during the first month of business as a proprietorship. Journalize the transactions

  5. Classify the following items • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com • Included in Novak Company’s December 31 trial balance is a note receivable of $12,360. The note is a 4-month, 10% note dated October 1.

  6. Compute the net cash provided • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com • Kingbird Corporation had net sales of $2,423,900 and interest revenue of $39,100 during 2017.

  7. Discount on Bonds Payable • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com • Presented below is information related to Windsor Company at December 31, 2017, the end of its first year of operations.

  8. enters into a contract to deliver a product • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com • Sheffield Company has recorded bad debt expense in the past at a rate of 1.5% of accounts receivable, based on an aging analysis.

  9. How much must he invest at the end • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com • Presented below are changes in the account balances of Wenn Company during the year, except for retained earnings.

  10. In which building would you recommend • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com •   The Marin, Inc. sold 10,350 season tickets at $2,040 each. By December 31, 2017, 16 of the 40 home games had been played. What amount should be reported as a current liability at December 31, 2017?

  11. Included in Novak Company’s • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com •   Martinez Corporation’s adjusted trial balance contained the following asset accounts at December 31, 2017: Cash $9,750, Land $45,600, Patents $17,100, Accounts Receivable $94,270, Prepaid

  12. Kingbird Company is involved • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com •   Included in Sunland Company’s December 31, 2017, trial balance are the following accounts: Accounts Payable $221,400, Pension Liability $380,600

  13. Kingbird Corporation had net sales • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com • 9 Included in Windsor Company’s December 31, 2017, trial balance are the following accounts: Accounts Payable $249,600, Pension Liability $376,400, Discount on Bonds Payable $29,400

  14. Martinez Corporation had net cash • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com •   Sarasota Company reported 2017 net income of $152,800. During 2017, accounts receivable increased by $14,580 and accounts payable increased by $9,723. Depreciation expense was $46,700.

  15. Martinez Corporation’s adjusted trial balance • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com • Compute the net cash provided (used) by investing activities.

  16. Novak Corporation is preparing • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com •   Compute the net cash used (provided) by financing activities. 7.

  17. Prepare Carla’s journal entries • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com •   What amount must he invest today if his investment earns 12% compounded annually? What amount must he invest if his investment earns 12% annual interest compounded quarterly?

  18. Prepare the journal entries for Kingbird • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com • How much must he invest at the end of each year, at 8% interest, to meet his needs?

  19. Prepare the necessary adjusting journal entries • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com • What amount will Pearl receive when it issues the bonds?

  20. Presented below are three revenue recognition situations • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com • In which building would you recommend that The Sheridan Inc. locate, assuming a 12% cost of funds?

  21. Sarasota Company reported 2017 net income • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com •   On May 10, 2017, Swifty Co. enters into a contract to deliver a product to Greig Inc. on June 15, 2017. Greig agrees to pay the full contract price of $2,060 on July 15, 2017.

  22. Sheffield Company has recorded bad debt • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com • Presented below are three revenue recognition situations.

  23. Splish Repair Shop had the following transactions • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com •   Prepare the journal entries for Kingbird on March 1, 2017. • (b) Prepare the journal entries for Kingbird on December 31, 2017.

  24. Teal Corporation had the following • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com • Prepare Carla’s journal entries to record (a) the sale on July 10, 2017, and (b) $84,200 of returns on October 11, 2017, and on October 31, 2017. Assume that Carla prepares financial statement on October 31, 2017.

  25. the account balances of Wenn Company • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com •   Classify the following items as (1) operating, (2) investing, (3) financing, or (4) significant noncash investing and financing activities, using the direct method.

  26. The current ratio of a company • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com • Novak Corporation is preparing its 2017 statement of cash flows, using the indirect method. Presented below is a list of items that may affect the statement. Using the code below, indicate how each item will affect Novak’s 2017 statement of cash flows.

  27. the end of its first year of operations • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com •   Whispering Corporation had January 1 and December 31 balances as follows.

  28. The Marin, Inc. sold 10,350 season tickets • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com •   In 2017, Martinez Corporation had net cash provided by operating activities of $511,000, net cash used by investing activities of $992,000, and net cash provided by financing activities of $570,000. At January 1, 2017, the cash balance was $330,000.

  29. trial balance are the following accounts • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com •   Teal Corporation had the following 2017 income statement. • (a) Prepare Teal’s cash flows from operating activities section of the statement of cash flows using the direct method.

  30. What amount must he invest today • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com • (a) The current ratio of a company is 5:1 and its acid-test ratio is 1:1. If the inventories and prepaid items amount to $530,000, what is the amount of current liabilities?

  31. when it issues the bonds? • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com • (c) A company has current assets of $90,000 (of which $44,000 is inventory and prepaid items) and current liabilities of $44,000. What is the current ratio? What is the acid-test ratio? If the company borrows $14,000 cash from a bank on a 120-day loan, what will its current ratio be? What will the acid-test ratio be?

  32. Whispering Corporation • FOR MORE CLASSES VISIT • www.acc421genius.com • if you are looking for customized help for this course • guaranteed above 90% score • you can email us at  • uopashinfo@gmail.com •   Kingbird Company is involved in four separate industries. The following information is available for each of the four industries. • (a) Revenue test.

  33. ACC 421 Final Exam Guide (New) www.acc421genius.com

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