1 / 16

ACC 422 NERD successful learning / acc422nerd.com

ACC 422 NERD is a truly special teacher is very wise and sees tomorrow in every student’s eyes

kopiko189
Download Presentation

ACC 422 NERD successful learning / acc422nerd.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 NERD successful learning / acc422nerd.com FOR MORE CLASSES VISIT ww.acc422nerd.com

  2. ACC 422 Final Exam Guide ( With EXCEL FILE, Score 29 30) FOR MORE CLASSES VISIT www.acc422nerd.com This Tutorial contains excel File which can be used to solve for any change in values Brief Exercise 7-1 Brief Exercise 7-7 Brief Exercise 7-14 Brief Exercise 7-15 Brief Exercise 8-4 (Part Level Submission) Brief Exercise 8-5 Brief Exercise 8-6 Multiple Choice Question 21 Question 14 Brief Exercise 9-4 Exercise 9-4 Brief Exercise 10-6 Brief Exercise 10-8 Exercise 10-1 Question 9 Brief Exercise 11-8

  3. ACC 422 Final Exam Guide (2017, With EXCEL FILE, Score 29 30) FOR MORE CLASSES VISIT www.acc422nerd.com Brief Exercise 14-3 The Skysong Company issued $260,000 of 10% bonds on January 1, 2017. The bonds are due January 1, 2022, with interest payable each July 1 and January 1. The bonds were issued at 98. Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31.

  4. ACC 422 Final Exam Guide (New 2017, FILE, Score 29 30) FOR MORE CLASSES VISIT www.acc422nerd.com Brief Exercise 7-7 Larkspur Family Importers sold goods to Tung Decorators for $40,800 on November 1, 2017, accepting Tung’s $40,800, 6-month, 6% note. Prepare Larkspur’s November 1 entry, December 31 annual adjusting entry, and May 1 entry for the collection of the note and interest.

  5. ACC 422 Final Exam Guide (New 2017, With EXCEL FILE) FOR MORE CLASSES VISIT www.acc422nerd.com Brief Exercise 10-6 Waterway Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $327,600. The estimated fair values of the assets are land $62,400, building $228,800, and equipment $83,200. At what amounts should each of the three assets be recorded?

  6. ACC 422 Final Exam Guide (New 2017, With EXCEL FILE, Score 29 30) FOR MORE CLASSES VISIT www.acc422nerd.com This Tutorial contains excel File which can be used to solve for any change in values Brief Exercise 7-1 Brief Exercise 7-7 Brief Exercise 7-14 Brief Exercise 7-15 Brief Exercise 8-4 (Part Level Submission) Brief Exercise 8-5 Brief Exercise 8-6 Multiple Choice Question 21 Question 14 Brief Exercise 9-4

  7. ACC 422 Final Exam Guide (New 2017, With EXCEL FILE, Score 29) FOR MORE CLASSES VISIT www.acc422nerd.com Architect’s fee on building 26,200 (h) Cost of real estate purchased as a plant site (land $209,100 and building $52,900) 262,000 (i) Commission fee paid to real estate agency 8,970 (j) Installation of fences around property 3,770 (k) Cost of razing and removing building 11,710 (l) Proceeds from salvage

  8. ACC 422 Final Exam Guide (New 2017, With EXCEL FILE, Score 30) FOR MORE CLASSES VISIT www.acc422nerd.com Question 9 Sage Company purchased machinery for $174,300 on January 1, 2017. It is estimated that the machinery will have a useful life of 20 years, salvage value of $14,700, production of 81,900 units, and working hours of 44,000. During 2017, the company uses the machinery for 11,440 hours,

  9. ACC 422 Final Exam Guide (New 2017, With EXCEL FILE, Score) FOR MORE CLASSES VISIT www.acc422nerd.com The receipts are enclosed in parentheses. (a) Money borrowed to pay building contractor (signed a note) $(285,400 ) (b) Payment for construction from note proceeds 285,400 (c) Cost of land fill and clearing 11,790 (d) Delinquent real estate taxes on property assumed by purchaser 7,300 (e) Premium on 6-month insurance policy during construction 8,580 (f) Refund of 1-month

  10. ACC 422 Final Exam Guide (New 2017, With EXCEL) FOR MORE CLASSES VISIT www.acc422nerd.com Purchases to February 10, 2017 1,104,580 Freight-in to February 10, 2017 59,180 Rate of gross profit on selling price 35% What is the approximate inventory on February 10, 2017? Exercise 9-4 Martinez Company began operations in 2017 and determined its ending inventory at cost and at LCNRV at December 31, 2017, and December 31, 2018. This information is presented below. Cost Net Realizable Value 12/31/17 $322,170

  11. ACC 422 Final Exam Guide (New 2017, With FILE, Score 29 30) FOR MORE CLASSES VISIT www.acc422nerd.com development projects; the equipment has an alternative future use 87,400 Costs of developing a secret formula for a product that is expected to be marketed for at least 20 years 83,800 (a) On the basis of this information, compute the total amount to be reported by Marin for intangible assets on its balance sheet at year-end. Brief Exercise 13-2 Ivanhoe Company borrowed $30,000 on November 1, 2017

  12. ACC 422 Final Exam Guide (New 2017, With) FOR MORE CLASSES VISIT www.acc422nerd.com Compute the April 30 inventory and the April cost of goods sold using the LIFO method. Multiple Choice Question 21 Which of the following inventories carried by a manufacturer is similar to the merchandise inventory of a retailer? Question 14 A fire destroys all of the merchandise of Shamrock Company on February 10, 2017. Presented below is information compiled up to the date of the fire. Inventory, January 1, 2017 $432,200 Sales revenue to February 10, 2017 1,935,200 Purchases to February 10, 2017 1,104,580 Freight-in

  13. ACC 422 Final Exam Guide (New 2017,EXCEL FILE, 29 30) FOR MORE CLASSES VISIT www.acc422nerd.com Martinez expects $124,050 of warranty costs over the next 2 years. In that year, Martinez spent $70,460 servicing warranty claims. Prepare Martinez’s journal entry to record the sales (ignore cost of goods sold) and the December 31 adjusting entry, assuming the expenditures are inventory costs. Brief Exercise 14-3 The Skysong Company issued $260,000 of 10% bonds on January 1, 2017.

  14. ACC 422 Final Exam Guide (New 2017,EXCEL FILE, Score 29 30) FOR MORE CLASSES VISIT www.acc422nerd.com The expected future net cash flows from the use of the asset are expected to be $560,000. The fair value of the equipment is $448,000. Prepare the journal entry, if any, to record the impairment loss. Brief Exercise 12-8 Concord Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of $330,000. The Johnson Division’s net assets, including the goodwill

  15. ACC 422 Final Exam Guide FOR MORE CLASSES VISIT www.acc422nerd.com Brief Exercise 8-6 Your answer is correct. Sandhill Company uses a periodic inventory system. For April, when the company sold 600 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 270 $30 $ 8,100 April 15 purchase 440 36 15,840 April 23 purchase 290 39 11,310 1,000 $35,250 Compute the April 30 inventory and the April cost of goods sold using the LIFO method. Multiple Choice Question 21 Which of the following inventories carried by a manufacturer is similar to the merchandise inventory of a retailer? Question 14 A fire destroys all of the merchandise of

  16. ACC 422 NERD successful learning / acc422nerd.com FOR MORE CLASSES VISIT ww.acc422nerd.com

More Related