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For more course tutorials visitwww.tutorialrank.comACC 304 Final Exam Part 1 (3 Sets) 11) 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.

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• 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.

• 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:

ACC 304 Final Exam Part 1 (3 Sets)

ACC 304 Final Exam Part 2 (2 Sets)

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• 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

• VALUATION OF INVENTORIES:A COST-BASIS APPROACH

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

ACC 304 Week 1 Chapter 8 Homework

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

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• 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.

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

ACC 304 Week 2 Chapter 9 Homework

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

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•  ACC 304 Week 3 Homework (Chapter 10)

• 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.

• Week 4 Quiz 3: Chapter 10

• ACQUISITION AND DISPOSITION OF PROPERTY, PLANT, AND EQUIPMENT

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

ACC 304 Week 3 Chapter 10 Homework

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

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• ACC 304 Week 4 Chapter 11 Homework

• 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.

• The book value of a plant asset is

• The asset turnover ratio is computed by dividing

ACC 304 Week 4 Chapter 11 Homework

ACC 304 Week 5 Midterm Part 1 (Set 1)

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• 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.

ACC 304 Week 5 Midterm Part 1 (Set 2)

ACC 304 Week 5 Midterm Part 1 (Set 3)

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• 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.

• ACC 304 Week 6 Chapter 12 Homework

•  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.

ACC 304 Week 5 Midterm Part 2

ACC 304 Week 6 Chapter 12 Homework

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• 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.

• 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. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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

ACC 304 Week 7 Chapter 13 Homework

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• ACC 304 WEEK 8 ASSIGNMENT 1 DELTA AIRLINES PROPERTY, PLANT, AND EQUIPMENT

• Assignment 1: Delta Airlines Property, Plant, and Equipment

• Due Week 8 and worth 200 points

• 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%.

ACC 304 Week 8 Assignment 1 Delta Airlines Property, Plant, And Equipment

ACC 304 Week 8 Chapter 14 Homework

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• ACC 304 Week 9 Quiz – Strayer NEW

• 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.

ACC 304 Week 9 Chapter 13 and Chapter 14 Quiz (All Possible Questions)

ACC 304 Week 9 Chapter 15 Homework

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• ACC 304 Week 10 Quiz – Strayer NEW

• Week 10 Quiz 7: Chapter 15

• STOCKHOLDERS’ EQUITY

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

• 1)      Archer Inc. issued \$4,461,300 par value, 7% convertible bonds at 99 for cash. If the bonds had not included the conversion feature, they would have sold for 95.

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

ACC 304 Week 10 Chapter 16 Homework

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