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For more course tutorials visit\nuophelp.com is now newtonhelp.com\nwww.newtonhelp.com\n\nScroll Down to See Details of the Questions\n\n Transactions for Mehta Company for the month of May are presented below. Prepare journal entries for each of these transactions. \n \nOn 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. \n

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acc 422 final exam guide 1

ACC 422 Final Exam Guide 1

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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

acc 422 final exam guide 2

ACC 422 Final Exam Guide 2

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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, then sales discounts taken should be reported as

acc 422 final exam guide 3

ACC 422 Final Exam Guide 3

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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 in the Cash caption on the balance sheet?

4) The advantage of relating a company's bad debt expense to its outstanding accounts receivable is that this approach

acc 422 final exam guide all 3 sets

ACC 422 Final Exam Guide All 3 Sets

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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 deposit (180-day) 94,754

What amount should be reported as cash?

acc 422 week 1 dq 1

ACC 422 Week 1 DQ 1

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Week 1 – DQ 1

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?

acc 422 week 1 dq 2

ACC 422 Week 1 DQ 2

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Week 1 – DQ 2

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?

acc 422 week 1 dq 3

ACC 422 Week 1 DQ 3

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Week 1 – DQ 3

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.

acc 422 week 1 individual assignment disclosure analysis paper 2 papers

ACC 422 Week 1 Individual Assignment Disclosure Analysis Paper (2 Papers)

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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.

Prepare a 700- to 1,050-word paper analyzing the disclosures contained within the notes to the financial statements related to cash and cash equivalents, receivables, and inventories. Include a list identifying the components of the organization’s cash and cash equivalents.

acc 422 week 1 team assignment audited financial statements nordstrom inc

ACC 422 Week 1 Team Assignment Audited Financial Statements (Nordstrom Inc.)

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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 information, and answer the following  

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

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)

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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)

·         Concept for Analysis 7-2 (Essay)

·         Problem 7-4 (Part Level Submission)

acc 422 week 2 dq 1

ACC 422 Week 2 DQ 1

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Week 2 – DQ 1

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.

acc 422 week 2 dq 2

ACC 422 Week 2 DQ 2

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Week 2 – DQ 2

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.

acc 422 week 2 dq 3

ACC 422 Week 2 DQ 3

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Week 2 – DQ 3

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?

acc 422 week 2 learning team assignment new syllabus

ACC 422 Week 2 Learning Team Assignment (New Syllabus)

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Complete the following three deliverables for this assignment as a team:

1. The Financial Reporting, Procter & Gamble Company, p. 379.

2. The Financial Statement Analysis Cases, Case 1: Occidental Petroleum Corporation, p. 379.

3. Problem 7-6, p. 374

Compile all team member’s input.

Click the Assignment Files tab to submit your assignment.

slide16

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)

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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

acc 422 week 3 dq 1

ACC 422 Week 3 DQ 1

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Week 3 – DQ 1

What is the purpose of depreciation?

Does the book value of a fixed asset (cost minus accumulated depreciation) communicate to a user what the asset is worth? Explain why or why not.

Should the financial statements reflect the value of fixed assets? Explain why or why not.

acc 422 week 3 dq 2

ACC 422 Week 3 DQ 2

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Week 3 – DQ 2

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?

Should companies standardize the method of depreciation to enhance comparability? Explain your answer.

acc 422 week 3 dq 3

ACC 422 Week 3 DQ 3

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Week 3 – DQ 3

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?

acc 422 week 3 dq 4

ACC 422 Week 3 DQ 4

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ACC 422 Week 3 DQ 4

acc 422 week 3 team assignment case 3 ca 8 10 problem 9 3 problem 9 13

ACC 422 Week 3 Team Assignment (Case 3, CA 8-10, Problem 9-3, Problem 9-13)

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Complete the following four deliverables for this assignment as a team:

1. Case 3: The Kroger Company, p. 440

Complete the following individually and discuss your individual answers as a team:

1. CA 8-10, p. 437

2. Problem 9-3, p. 483

3. Problem 9-13, p. 487

After discussing your answers, compile each into a team response.

Click the Assignment Files tab to submit your assignment.

slide22

ACC 422 Week 3 Wileyplus BE 10-10, Ex 10-3, Ex 10-13, Ex 11-6 Ex 11-15, Ex 11-24, Ex 12-1, Ex 12-4, Ex 12-14 (with Excel File)

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This Tutorial contains Excel File which can be used to solve for any values

Complete the following assignments in WileyPLUS:

• Brief Exercise 10-10

• Exercise 10-3

• Exercise 10-13

• Exercise 11-6

• Exercise 11-15

• Exercise 11-15 (Essay)

acc 422 week 4 dq 1

ACC 422 Week 4 DQ 1

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Week 4 – DQ 1

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?

acc 422 week 4 dq 2

ACC 422 Week 4 DQ 2

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Week 4 – DQ 2

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.

acc 422 week 4 dq 3

ACC 422 Week 4 DQ 3

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Week 4 – DQ 2

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.