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1. ACC 421 genius Endless Education/acc421genius.com FOR MORE CLASSES VISIT www.acc421genius.com

2. ACC 421 Final Exam Guide (New) 1 • Scroll Down to See Details of the Questions Transactions for Mehta Company for the month of May are presented below. Prepare journal entries for each of these transactions. On July 1, 2014, Crowe Co. pays $15,000 to Zubin Insurance Co. for a 3-year insurance policy. Both companies have fiscal years ending December 31. For Crowe Co., journalize the entry on July 1 and the adjusting entry on December 31. Dresser Company’s weekly payroll, paid on Fridays, totals $8,000. Employees work a 5-day week. Prepare Dresser’s adjusting entry on Wednesday, December 31, and the journal entry to record the $8,000 cash payment on Friday, January 2 Side Kicks

3. ACC 421 Final Exam Guide (New) • Number of Questions 30 Score atleast 90% easily with our EXCEL SHEET for any values (EVEN IF VALUES CHANGES) of below mentioned Question Exercise 129 Prepare the necessary adjusting journal entries indicated by each item for the year ended December 31, 2017. Exercise 132 1. An income statement. 2. A retained earnings statement. 3. A balance sheet. Brief Exercise 3-2 Splish Repair Shop had the following transactions during the first month of business as a proprietorship. Journalize the transactions Brief Exercise 3-8 Included in Novak Company’s

4. ACC 421 Final Exam Guide • Question 1 Transactions for Mehta Company for the month of May are presented below. May 1 B.D. Mehta invests $3,054 cash in exchange for common stock of Mehta Company, a small welding corporation. 3 Buys equipment on account for $1,547. Question 2 On July 1, 2012, Crowe Co. pays $19,796 to Zubin Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. For Crowe Co. Question 3 Dresser Company's weekly payroll, paid on Fridays, totals $12,000. Employees work a 5-day week. Prepare Dresser's adjusting entry on Wednesday, December 31, and the Question 4 Side Kicks has year-end account balances of Sales $876,990; Interest Revenue $17,650; Cost of Goods Sold $577,500; Operating Expenses $200,240; Income Tax Expense Question 5 Financial information exhibits the characteristic of consistency when: Question 6 What is the relationship between the Securities and Exchange Commission and accounting standard setting in the United States? Question 7

5. ACC 421 Week 1 US GAAP Versus IFRS • Write a 1,050- to 1,400-word paper that addresses the following scenario and questions: Your aunt recently received the annual report for a company in which she has invested. The report notes that the statements have been prepared in accordance with “generally accepted accounting principles.” She has also heard that certain terms have special meanings in accounting relative to everyday use. She would like you to explain the meaning of terms she has come across related

6. ACC 421 Week 1 WileyPlusAssignment Ex 2-4, Ex 2-6, Ex 3-5, Ex 3-9, Ex 3-13 (With Excel File) • This Tutorial contains Excel File which can be used to solve for any values • Exercise 2-4 • Exercise 2-6 • Exercise 3-5 • Exercise 3-9 • Exercise 3-13 (Part Level Submission) Question 1 Identify the appropriate qualitative characteristic(s) to be used given the information provided below. (a) Qualitative characteristic being employed when companies in the same industry are using the same accounting principles. (b) Quality of information

7. ACC 421 Week 2 DQs • 1. What are different criteria for recognizing revenue? 2. What are the different revenue recognition methods? Why are there so many revenue recognition methods? 3. Why are the methods subjective, and what are the implications on income statement quality? 4. What are the differences between regular and irregular items on an income statement? 5. What are the requirements for items to qualify as irregular? What are some examples of irregular items?

8. ACC 421 Week 2 Individual BE 4-2, BE 4-3, BE 4-10, Ex 4-5, Ex 18-3, Ex 18-7, Ex 18-12 • Complete the following Week 2 Assignment in WileyPLUS: • Brief Exercise 4-2 • Brief Exercise 4-4 • Brief Exercise 4-9 • Brief Exercise 18-2 • Brief Exercise 18-5 • Brief Exercise 18-6

9. ACC 421 Week 2 Individual BE 4-2, BE 4-3, BE 4-10, Ex 18-3, Ex 18-7 • This Tutorial contains Excel File which can be used to solve for any values Complete the following assignments in WileyPLUS: Brief Exercise 4-2 Brief Exercise 4-3 Brief Exercise 4-10 Exercise 18-3 Exercise 18-7 (Part Level Submission) Brief Exercise 4-2 Brisky Corporation had net sales of $2,400,000 and interest revenue of $31,000 during 2014. Expenses for 2014 were cost of goods sold $1,450,000; administrative expenses $212,000; selling expenses $280,000; and interest expense $45,000. Brisky’s tax rate is 30%. The corporation had 100,000 shares of common stock authorized and 70,000 shares issued and outstanding during 2014. Prepare a single-step income statement for the year ended December 31, 2014. (Round earnings per share to 2 decimal places, e.g. 1.48.) Brief Exercise 4-3 Marigold Corporation had net sales of $2,401,300 and interest revenue of $36,200 during 2017. Expenses

10. ACC 421 Week 2 Individual Revenue Recognition standards (2 PPT) • This Tutorial contains 2 Presentation Create a 7- to 12-slide presentation. Describe the new Revenue Recognition standards. Project the impact of these new standards on financial reporting. Click the Assignment Files tab to submit your assignment.

11. ACC 421 Week 2 Team Coca-Cola PepsiCo Comparative Analysis Cases p. 72 and 145 • Complete, as a team, the Coca-Cola/PepsiCo Comparative Analysis Cases on p. 72 and 145. Your responses should be approximately one to two sentences for each segment (a-d, a-c). Compile all team member’s input. Click the Assignment Files tab to submit your assignment. (a) What are the primary lines of business of these two companies as shown in their notes to the financial statements? (b) Which company has the dominant position in beverage sales? (c) How are inventories for these two companies valued? What cost allocation method is used to report inventory? How does their accounting for inventories affect comparability between the two companies? (d) What accounting policy changes do the companies discuss? Comparative Analysis Case P.145 (a) Which company had the greater percentage increase in total assets from 2013 to 2014? (b) Using the Selected Financial Data section of these

12. ACC 421 Week 3 Assignment CA 4-2, Problem 18-3, Problem 18-2 • Complete the following individually and discuss your individual answers as a team: • CA 4-2, p. 190 • Problem 18-3, p. 1043 • Problem 18-2, p. 1047 After discussing your answers, compile each into a team response. Click the Assignment Files tab to submit your assignment. CA4-2 GROUPWORK (Earnings Management) Bobek Inc. has recently reported steadily increasing income. The company reported income of $20,000 in 2014, $25,000 in 2015, and $30,000 in 2016. A number of market analysts have recommended that investors buy the stock because they expect the steady growth in income to continue. Bobek is approaching the end of its fiscal year in 2017, and it again appears to be

13. ACC 421 Week 3 Individual BE 5-1, Ex 5-3, Ex 5-9, Pr 5-2, BE 2-1, BE 24-8, Pr 24-3 (With Excel File) • This Tutorial contains Excel File which can be used to solve for any values Exercise 5-1: Pronghom corporation has the following accounts included in its December 31, 2017, trial balance: Accounts receivable $110,600, Inventory $293,500, Allowance for Doubtful Accounts $9,450, Patents $72,500, prepaid insurance $9,590, Accounts payable $81,200 and cash $30,200. Prepare the current assets section of the balance sheet. Exercise 5-3: For Fielder Enterprises, indicate how each of the following usually should be classified. If an

14. ACC 421 Week 3 Individual BE 24-1 (Essay) (with Excel File) • This Tutorial contains Excel File which can be used to solve for any values Brief Exercise 24-1 (Essay) An annual report of Crestwood Industries states, “The company subsidiaries have long-term leases expiring on various dates after December 31,2017. Amounts payables under such commitments, without reduction for related rental income, are expected to average approximately $5,711,000 annually for the next 3 years. Related rental income from certain subleases to others is estimated to average $3,094,000 annually for the next 3 years”. What information is provided by this note?

15. ACC 421 Week 3 Individual BE 24-8 (with Excel File) • This Tutorial contains Excel File which can be used to solve for any values Brief Exercise 24-8 Answer each of the questions in the following unrelated situations 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 $485,500, what is the amount of current liabilities? b) A company had an average inventory last year of $196,000 and its inventory turnover was 5. If sales volume and unit cost remain

16. ACC 421 Week 3 Individual Brief Exercise 5-1 (with Excel File) • This Tutorial contains Excel File which can be used to solve for any values Exercise 5-1: Pronghom corporation has the following accounts included in its December 31, 2017, trial balance: Accounts receivable $110,600, Inventory $293,500, Allowance for Doubtful Accounts $9,450, Patents $72,500, prepaid insurance $9,590, Accounts payable $81,200 and cash $30,200. Prepare the current assets section of the balance sheet.

17. ACC 421 Week 3 Individual Exercise 5-3 • Exercise 5-3: For Fielder Enterprises, indicate how each of the following usually should be classified. If an item should appear in a note to the financial statements, select “note to Financial Statement” to indicate this fact. If an item need to be reported on the balance sheet, select “Balance Sheet” and if an item need not be reported at all, select “Not to be Reported”

18. ACC 421 Week 3 Individual Exercise 5-9 (with Excel File) • This Tutorial contains Excel File which can be used to solve for any values Exercise 5-9 (Part Level Submission) The current assests and current liabilities sections of the balance sheet of Cheyenne company appear as follows. a) calculate following adjusted balances.

19. ACC 421 Week 3 Individual Problem 5-2 (with Excel File) • This Tutorial contains Excel File which can be used to solve for any values Problem 5-2 Presented below are a number of balance sheet items for waterway, Inc., for the current year, 2017.

20. ACC 421 Week 3 Individual Problem 24-3 (Essay) • Problem 24-3 (Essay) Bradbum Corporation was Formed 5 years age through a public subscription of common stock. Daniel Brown, who owns 15% of the common stock, was one of the organizers of Bradburn and is its current president. The company has been successful, but it currently is experiencing a shortage of funds. On june 10, 2018, Daniel Brown approached the Topeka National Bank, asking for a 24-month extension on two $35,000 notes, which are due on June 30,2018, and September 30,2018. Another notes of $6,000 is due on March 31,2019, but he expects no difficulty in paying this note on its due date. Brown explained that Bradburn’s. The commercial loan officer of Topeka National Bank requested the following reports for last 2 fiscal years. Identify and explain

21. ACC 421 Week 3 Team Assignment Comparative Analysis Case (Coca Cola Pepsi Co) • Complete the following deliverables as a team: • The Coca-Cola/PepsiCo Comparative Analysis Case on p. 192. Your responses should be approximately one to two sentences for each segment (a-c). (a) What type of income format(s) is used by these two companies? Identify any differences in income statement format between these two companies. (b) What are the gross profits, operating profits, net incomes, and net incomes attributable to non-controlling interests for these two companies over the 3-year period 2012-2014? Which company has had better financial results over this period of time? (c) What income statement format do these two companies use to report comprehensive income?

22. ACC 421 Week 4 Wileyplus BE 5-12, Ex 5-13, Ex 5-14, BE 23-1, Ex 23-14 • This Tutorial contains Excel File which can be used to solve for any values Complete the following assignments in WileyPLUS: • Brief Exercise 5-12 • Exercise 5-13 • Exercise 5-14 • Brief Exercise 23-1 • Exercises 23-13 • Exercise 23-14 Brief Exercise 5-12 Monty Beverage Company reported the following items in the most recent year. Net Income $43,400 Dividends paid 5,210 Increase in a/r 11,440 Increase in a/p 8,490 Purchase of equipment (capital expenditure) 8,720 Depreciation expense 5,490 Issue of notes payable 24,020 Compute net cash provided by operating

23. ACC 421 Week 5 Analyzing Amazon document • Resources: Analyzing Amazon document. Write a 700- to 1,050-word paper. The incredible growth of Amazon.com has put fear into the hearts of traditional retailers. Amazon’s stock price has soared to amazing levels. However, it is often pointed out in the financial press that it took the company several years to report its first profit. Calculate free cash flow for Amazon for the current and prior years. Evaluate its ability to finance expansion from internally generated cash. Thus far, Amazon has avoided purchasing large warehouses. Instead, it has used those of others. It is possible, however, that in order to increase customer satisfaction, the company may have to build its own warehouses. If this happens: • Describe how your impression of its ability to finance expansion change. • Project any potential implications of the change in Amazon’s cash provided by operations from the prior year to the current year. Click the Assignment Files tab to submit your assignment.

24. ACC 421 genius Endless Education/acc421genius.com FOR MORE CLASSES VISIT www.acc421genius.com