1 / 28

ACC 422 EXPERT A Clearer path to student success/acc422expert.com

FOR MORE CLASSES VISIT<br>www.acc422expert.com<br><br><br>1. Kraft Enterprises owns the following assets at December 31, 2012. Cash in bank–savings account 67,516 Checking account balance 26,445 Cash on hand 9,478 Postdated checks 753 Cash refund due from IRS 40,324 Certificates of deposit (180-day) 94,754 What amount should be reported as cash? Question 2 Presented below is information related to Rembrandt Inc.’s inventory

amrithasenpant3
Download Presentation

ACC 422 EXPERT A Clearer path to student success/acc422expert.com

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. ACC 422 EXPERT A Clearer path to student success/acc422expert.com FOR MORE CLASSES VISIT www.acc422expert.com

  2. ACC 422 Final Exam Guide 1 FOR MORE CLASSES VISIT www.acc422expert.com 1. Kraft Enterprises owns the following assets at December 31, 2012. Cash in bank–savings account 67,516 Checking account balance 26,445 Cash on hand 9,478 Postdated checks 753 Cash refund due from IRS 40,324 Certificates of deposit (180-day) 94,754 What amount should be reported as cash? Question 2 Presented below is information related to Rembrandt Inc.’s inventory. (per

  3. ACC 422 Final Exam Guide 2 FOR MORE CLASSES VISIT www.acc422expert.com SET 2 1) Which of the following is considered cash? 2) Bank overdrafts, if material, should be 3) Which of the following is NOT considered cash for financial reporting purposes? 4) If a company employs the gross method of recording accounts receivable from customers, t

  4. ACC 422 Final Exam Guide 3 FOR MORE CLASSES VISIT www.acc422expert.com SET 3 1) Which of the following is NOT considered cash for financial reporting purposes? 2) What is the preferable presentation of accounts receivable from officers, employees, or affiliated companies on a balance sheet? 3) Which of the following items should NOT be included i

  5. ACC 422 Final Exam Guide All 3 Sets FOR MORE CLASSES VISIT www.acc422expert.com Details of All 180 Questions Given Below SET 1 1. Kraft Enterprises owns the following assets at December 31, 2012. Cash in bank–savings account 67,516 Checking account balance 26,445 Cash on hand 9,478 Postdated checks 753 Cash refund due from IRS 40,324 Certificates of depos

  6. ACC 422 Week 1 DQ 1 FOR MORE CLASSES VISIT www.acc422expert.com Consider how an organization must manage cash, receivables, and inventory. Which of the three variables is the most important to manage? Is one more susceptible to fraud and errors than the others? Explain your answer. How would a misstatement in each affect the organization?

  7. ACC 422 Week 1 DQ 2 FOR MORE CLASSES VISIT www.acc422expert.com What is the perpetual method of tracking inventory? How does it differ from the periodic method of tracking inventory? Why would a company choose one method over the other method? Which is the best method? Why?

  8. ACC 422 Week 1 DQ 3 FOR MORE CLASSES VISIT www.acc422expert.com What are the different ways to estimate bad debt? How does this affect net income? What does Generally Accepted Accounting Principles (GAAP) require? Why? Should all companies have bad debt? Explain your answer.

  9. ACC 422 Week 1 Individual Assignment Disclosure Analysis Paper FOR MORE CLASSES VISIT www.acc422expert.com Resource: Internet Select a publicly held company to use as the basis for this assignment. Research your selected company and acquire the company’s most recent financial statements using the Internet.

  10. ACC 422 Week 1 Team Assignment Audited Financial Statements (Nordstrom Inc.) FOR MORE CLASSESVISIT www.acc422expert.com Each team is assigned a publically traded company that they will use to answer the questions in the Financial Scavenger Hunt assigned each week. Team A: Nordstrom Inc. Team B: Macy's Inc. Locate your assigned company's latest audited financial statements and post them on the assignment tab. Review the financial statements, including any notes and supplemental infor hhh

  11. ACC 422 Week 1 Wileyplus BE 7-1, BE 7-7, Ex 7-4, Ex 7-9, Ex 7-22, Ex 7-24, CA 7-2, Pr 7-4 (with Excel File) FOR MORE CLASSESVISIT www.acc422expert.com This Tutorial contains Excel File which can be used to solve for any values Complete the following assignments in WileyPLUS: • Brief Exercise 7-1 • Brief Exercise 7-7 • Exercise 7-4 • Exercise 7-9 • Exercise 7-22 • Exercise 7-24 (Part Level Submission) • C

  12. ACC 422 Week 2 DQ 1 FOR MORE CLASSES VISIT www.acc422expert.com Under what circumstances would a company need to estimate its inventory? What are the differences between using the gross profit method and retail inventory method for estimating inventory? Which method of estimation, gross profit or retail inventory, is best? Explain your answer.

  13. ACC 422 Week 2 DQ 2 FOR MORE CLASSES VISIT www.acc422expert.com What are the criteria for capitalization of fixed assets? What items are included in the cost of a fixed asset? Should interest be included in the cost of a fixed asset? Explain why or why not.

  14. ACC 422 Week 2 DQ 3 FOR MORE CLASSES VISIT www.acc422expert.com How do we account for the disposition of fixed assets? What are the differences in how the exchanges of assets are handled, pending on whether they are similar or dissimilar? What is the rationale for these differences? What is the impact to the companies’ financial statements?

  15. ACC 422 Week 2 Wileyplus Ex 8-2, Ex 8-9, Ex 8-12, Ex 9-2, Ex 9-7, Ex 9-17, Ex 9-18, Ex 9-20, Ex 9-22 (with Excel File) FOR MORE CLASSESVISIT www.acc422expert.com This Tutorial contains Excel File which can be used to solve for any values Complete the following assignments i • Exercise 8-2 • Exercise 8-9 (Part Level Submission) • Exercise 8-12 (Part Level Submission) • Exercise 9-2 • Exercise 9-7 • Exercise 9-17 • Exercise 9-18

  16. ACC 422 Week 2 Wileyplus Ex 8-2, Ex 8-9, Ex 8-12, Ex 9-2, Ex 9-7, Ex 9-17, Ex 9-18, Ex 9-20, Ex 9-22 (with Excel File) FOR MORE CLASSESVISIT www.acc422expert.com This Tutorial contains Excel File which can be used to solve for any values Complete the following assignments i • Exercise 8-2 • Exercise 8-9 (Part Level Submission) • Exercise 8-12 (Part Level Submission) • Exercise 9-2 • Exercise 9-7 • Exercise 9-17 • Exercise 9-18

  17. ACC 422 Week 3 DQ 2 FOR MORE CLASSES VISIT www.acc422expert.com What are the different methods used to calculate depreciation? How does a company decide which method it should utilize? How does its choice affect the financial statements?

  18. ACC 422 Week 3 DQ 3 FOR MORE CLASSES VISIT www.acc422expert.com What is an intangible asset? Should all intangible assets be subject to amortization? Explain why or why not. Why are some intangible assets not amortized? What is the implication to the financial statements?

  19. ACC 422 Week 4 DQ 1 FOR MORE CLASSES VISIT www.acc422expert.com What are the criteria for classifying an item as a current liability? What are some examples of current liabilities? Why is it important to classify a portion of long-term debt on a yearly basis as a current liability? What is the implication of misclassifying a liability as current or long-term?

  20. ACC 422 Week 4 DQ 2 FOR MORE CLASSES VISIT www.acc422expert.com What is a contingency? Why are contingencies important to users of financial statements? What are the criteria for recording contingencies? Should companies record a liability for threatened litigation? Explain why or why not.

  21. ACC 422 Week 4 DQ 2 FOR MORE CLASSES VISIT www.acc422expert.com What is a contingency? Why are contingencies important to users of financial statements? What are the criteria for recording contingencies? Should companies record a liability for threatened litigation? Explain why or why not.

  22. ACC 422 Week 4 Individual Assignment From The Text E11-4,E11-11,E12-6 And E12-16 FOR MORE CLASSES VISIT www.acc422expert.com Resource:Intermediate Accounting Prepare written responses to the following assignments from the text: ·         Ch. 11: Exercises E11-4 & E11-11 ·         Ch. 12: Exercises E12-6 & E12-16

  23. ACC 422 Week 5 DQ 1 FOR MORE CLASSES VISIT www.acc422expert.com What are the differences between a direct-financing and a sales-type lease for a lessor? Why would a lessor provide direct-financing to a lessee? What types of organizations provide direct-financing leases?

  24. ACC 422 Week 5 DQ 2 FOR MORE CLASSES VISIT www.acc422expert.com What are the criteria for classifying a lease as operating or capital? Why is there a difference between the two? What are the implications of an operating lease versus a capital lease on an entity’s financial statements?

  25. ACC 422 Week 5 DQ 3 FOR MORE CLASSES VISIT www.acc422expert.com What is residual value? What is the implication to the lessee if the residual value is guaranteed or unguaranteed? What is the implication to the lessor?

  26. ACC 422 Week 5 DQ 4 FOR MORE CLASSES VISIT www.acc422expert.com Week 5 – DQ 4 What are the advantages of operating and capital leases? What are the disadvantages? Why would a company pick one over the other?

  27. ACC 422 Week 5 Learning Team Problem Presentation FOR MORE CLASSES VISIT www.acc422expert.com Collaborate as a team to provide written responses to a facilitator-assigned problem. Prepare a 5- to 10-minute oral presentation accompanied by a 7- to 9-slide Microsoft® PowerPoint® presentation illustrating your team’s solution to the assigned problem.

  28. ACC 422 EXPERT A Clearer path to student success/acc422expert.com FOR MORE CLASSES VISIT www.acc422expert.com

More Related