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For more classes visitwww.snaptutorial.comThis Tutorial contains 3 Set of Finals ACC 304 Final Exam Part 1 (3 Sets) 1 1) Swing High Inc. offers its 100 employees to participate in an employee share-purchase plan. Under the terms of plan, employees are entitled to purchase 10 shares at 10% discount. The par values of shares were $10. Overall, 60 employees accepted the offer and each employee purchased six shares. The market price on purchase date was $100. What is the compensation expense recorded by Swing High Inc.?

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Acc 304 course success is a tradition snaptutorial com

ACC 304 Course Success is a Tradition -snaptutorial.com

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Acc 304 course success is a tradition snaptutorial com1

ACC 304 Final Exam Part 1 (3 Sets)

ACC 304 Final Exam Part 2 (2 Sets)

  • 1) Swing High Inc. offers its 100 employees to participate in an employee share-purchase plan. Under the terms of plan, employees are entitled to purchase 10 shares at 10% discount. The par values of shares were $10. Overall, 60 employees accepted the offer and each employee purchased six shares. The market price on purchase date was $100.

  • 1) On January 1, 2015, Piper Co. issued ten-year bonds with a face value of $3,000,000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Table values are:

  • Present value of 1 for 10 periods at 10% .386

  • Present value of 1 for 10 periods at 12% .322

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ACC 304 Week 1 Chapter 8 Homework

ACC 304 Week 2 Chapter 8 Quiz (All Possible Questions)

  • 1) Matlock Company uses a perpetual inventory system. Its beginning inventory consists 50 units that cost $34 each. During June , (1) the company purchased units at $34 each, (2) returned 6 units for credit ,and (3) sold 125 unit at $50 each. Journalize the June transactions.

  • ACC 304 Week 2 Quiz – Strayer NEW

  • CHAPTER 8

  • ALUATION OF INVENTORIES:A COST-BASIS APPROACH

  • IFRS questions are available at the end of this chapter.

  • TRUE FALSE—Conceptual

  • 1. A manufacturing concern would report the cost of units only partially processed as inventory in the balance sheet.

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ACC 304 Week 2 Chapter 9 Homework

ACC 304 Week 3 Chapter 9 Quiz (All Possible Questions)

  • ACC 304 Week 2 Chapter 9 Homework

  • 1) Floyd Corporation has the following four items in its ending inventory. Determine the final lower-of-cost-or-market inventory value for each item.

  • 2) Bell, Inc. buys 1,000 computer game CDs from a distributor who is disconnecting those games. The purchase price for the lot is $8,000.Bell will group the CDs into three price categories for resale

  • 1. A company should abandon the historical cost principle when the future utility of the inventory item falls below its original cost.

  • 2. The lower-of-cost-or-market method is used for inventory despite being less conservative than valuing inventory at market value.

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ACC 304 Week 3 Chapter 10 Homework

ACC 304 Week 4 Chapter 10 Quiz (All Possible Questions)

  • 1) Hanson Company is constructing a building. Construction begins on February 1 and was completed on December 31. Expenditure were $1,800,000 on march 1, $1,200,000 on June 1, and $3,000,000 on December 31. Compute Hanson’s weighted-average accumulated expenditure for interest capitalization purposes.

  • 1. Assets classified as Property, Plant, and Equipment can be either acquired for use in operations, or acquired for resale.

  • 2. Assets classified as Property, Plant, and Equipment must be both long-term in nature and possess physical substance.

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ACC 304 Week 4 Chapter 11 Homework

ACC 304 Week 5 Midterm Part 1 (Set 1)

  • 1) Lockard Company purchased machinery on January 1, 2014, for $102,960. The machinery is estimated to have a salvage value of $10,296 after a useful life of 8 years.

  • 2) Compute 2014 depreciation expense using the double-declining-balance method.

  • 3) Compute 2014 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on October 1, 2014.

On September 19, 2014, Markham Co. purchased machinery for $285,000. Salvage value was estimated to be $15,000. The machinery will be depreciated over eight years using the sum-of-the-years'-digits method. If depreciation is computed on the basis of the nearest full month, Markham should record depreciation expense for 2015 on this machinery of

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ACC 304 Week 5 Midterm Part 1 (Set 2)

ACC 304 Week 5 Midterm Part 1 (Set 3)

  • Multiple Choice Question 90

  • If Labor, Inc. uses the composite method and its composite rate is 7.5% per year, what entry should it make when plant assets that originally cost $80,000 and have been used for 10 years are sold for $24,000?

1) Tongas Company applies revaluation accounting to plant assets with a carrying value of $1,600,000, a useful life of 4 years, and no salvage value. Depreciation is calculated on the straight-line basis. At the end of year 1, independent appraisers determine that the asset has a fair value of $1,500,000.

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ACC 304 Week 5 Midterm Part 2

ACC 304 Week 6 Chapter 12 Homework

  • 1) 1) A machine which cost $300,000 is acquired on October1, 2014. Its estimated salvage value is $30,000 and its expected life is eight years.

  • a) Calculate depreciation expense for 2014 and 2015 by double-declining balance

  • b) Calculate depreciation expense for 2014 and 2015 by sum-of-the-years-digits

1) Waters Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of $400,000. The Johnson Division’s net assets, including the good well, have a carrying amount of $800,000. The fair value of the division is estimated to be $1,000,000.prepare Water’s journal entry to record impairment of the goodwill.

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ACC 304 Week 7 Chapter 12 Quiz (All Possible Questions)

ACC 304 Week 7 Chapter 13 Homework

  • ACC 304 Week 7 Quiz – Strayer NEW

  • Week 7 Quiz 4: Chapter 12

  • INTANGIBLE ASSETS

  • IFRS questions are available at the end of this chapter.

  • TRUE-FALSE—Conceptual

1) Takemoto Corporation borrowed $64,850 on November 1, 2014, by signing a $68,450, 3-month, zero-interest-bearing note. Prepare Takemoto’s November 1, 2014, entry; the December 31, 2014, annual adjusting entry; and the February 1, 2015, entry. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.

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ACC 304 Week 8 Assignment 1 Delta Airlines Property, Plant

ACC 304 Week 8 Chapter 14 Homework

  • According to the textbook, U.S. companies and foreign companies are affected by deprecation rules. When companies write off the cost of long-lived assets over a period of time, the term used is depreciation.

1) Teton Corporation issued $704,000 of 9% bonds on November 1, 2014, for $745,018. The bonds were dated November 1, 2014, and mature in 8 years, with interest payable each May 1 and November 1. Teton uses the effective-interest method with an effective rate of 8%.

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ACC 304 Week 9 Chapter 13 and Chapter 14 Quiz

ACC 304 Week 9 Chapter 15 Homework

  • 1. A zero-interest-bearing note payable that is issued at a discount will not result in any interest expense being recognized.

  • 2. Dividends in arrears on cumulative preferred stock should be recorded as a current liability.

  • 3. Magazine subscriptions and airline ticket sales both result in unearned revenues.

1) Ravonette Corporation issued 375 shares of $14 par value common stock and 128 shares of $51 par value preferred stock for a lump sum of $17,118. The common stock has a market price of $20 per share, and the preferred stock has a market price of $90 per share.

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ACC 304 Week 10 Chapter 15 Quiz (All Possible Questions)

ACC 304 Week 10 Chapter 16 Homework

  • 1. A corporation is incorporated in only one state regardless of the number of states in which it operates.

  • 2. The preemptive right allows stockholders the right to vote for directors of the company.

  • 3. Common stock is the residual corporate interest that bears the ultimate risks of loss.

  • Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

  • Account Titles and Explanation Debit Credit

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