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ACCT 551 RANK Successful Learning / acct551rank.com

FOR MORE CLASSES VISIT <br>www.acct551rank.com<br><br>This Tutorial contains 2 Different Course Project<br> <br>ACCT 551 Course Project (Notes to Financial Statement)<br>

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ACCT 551 RANK Successful Learning / acct551rank.com

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  1. ACCT 551 RANK Successful Learning / acct551rank.com

  2. ACCT 551 RANK Successful Learning / acct551rank.com • ACCT 551 Course Project (Notes to Financial Statement) (2 Project) • FOR MORE CLASSES VISIT • www.acct551rank.com • This Tutorial contains 2 Different Course Project • ACCT 551 Course Project (Notes to Financial Statement)

  3. ACCT 551 RANK Successful Learning / acct551rank.com • ACCT 551 Final Exam Set 1 • FOR MORE CLASSES VISIT • www.acct551rank.com • Question 1. (TCO C) Which characteristic is not possessed by intangible assets? • Physical existence • Short-lived • Result in future benefits • Expensed over current and/or future years

  4. ACCT 551 RANK Successful Learning / acct551rank.com ACCT 551 Final Exam Set 2 FOR MORE CLASSES VISIT www.acct551rank.com Question 1. 1. (TCO C) Which characteristic is not possessed by intangible assets? (Points : 5) Physical existence Short-lived Result in future benefits Expensed over current and/or future years

  5. ACCT 551 RANK Successful Learning / acct551rank.com • ACCT 551 Midterm Exam Set 1 • FOR MORE CLASSES VISIT • www.acct551rank.com • Question 1. (TCO C) The major problem of accounting for intangibles is determining • fair market value. • separability. • salvage value.

  6. ACCT 551 RANK Successful Learning / acct551rank.com • ACCT 551 Midterm Exam Set 2 • FOR MORE CLASSES VISIT • www.acct551rank.com • Question 1. (TCO C) The major problem of accounting for intangibles is determining • Question 2. Question : (TCO C) Wriglee, Inc. went to court this year and successfully defended its patent from infringement by a competitor. The cost of this defense should be charged to

  7. ACCT 551 RANK Successful Learning / acct551rank.com • ACCT 551 Week 1 Discussion BE12-2, BE12-3, BE12-7, BE12-6, BE 12-12, Ex 12-15 • FOR MORE CLASSES VISIT • www.acct551rank.com • BE12-2 makes us learn that if any legal cost is incurred to defend an intangible assets it should be added to the book value of intangible asset and depreciated over its remaining useful life. Book Value is determined by subtracting amortization till the date of incurring legal cost from the purchase price.

  8. ACCT 551 RANK Successful Learning / acct551rank.com • ACCT 551 Week 1 Homework E12-5, E12-16 • FOR MORE CLASSES VISIT • www.acct551rank.com • E12-5 (Correct Intangible Assets Account) As the recently appointed auditor for William J. Bryan Corporation, you have been asked to examine selected accounts before the 6-month financial statements of June 30, 2014, are prepared. The controller for William J. Bryan Corporation mentions that only one account is kept for intangible assets. The account is shown below.

  9. ACCT 551 RANK Successful Learning / acct551rank.com • ACCT 551 Week 2 Homework E13-11, E13-12, P13-9 • FOR MORE CLASSES VISIT • www.acct551rank.com • E13-11 (Warranties) Sheryl Crow Equipment Company sold 500 Rollomatics during 2014 at $6,000 each. During 2014, Crow spent $20,000 servicing the 2-year warranties that accompany the Rollomatic. All applicable transactions are on a cash basis.

  10. ACCT 551 RANK Successful Learning / acct551rank.com • ACCT 551 Week 3 Homework P14-5, P14-6, P14-7 • FOR MORE CLASSES VISIT • www.acct551rank.com • P14-5 (Comprehensive Bond Problem) In each of the following independent cases the company closes its books on December 31. • P14-6 (Issuance of Bonds between Interest Dates, Straight-Line, Redemption) Presented below are

  11. ACCT 551 RANK Successful Learning / acct551rank.com • ACCT 551 Week 4 Homework E15-2, E15-5, E15-6 • FOR MORE CLASSES VISIT • www.acct551rank.com • EXERCISE 15-2 • Facts: Kathleen Battle Corporation was organized on January 1, 2014. It is authorized to issue 10,000 shares of 8%, $100 par value preferred stock, and 500,000 shares of no-par common stock with a stated value of $1 per share. The following transactions were completed during the first year. Prepare entries to record the transactions.

  12. ACCT 551 RANK Successful Learning / acct551rank.com • ACCT 551 Week 5 Homework E15-15, E15-16 • FOR MORE CLASSES VISIT • www.acct551rank.com • E15-15 (Dividend Entries) The following data were taken from the balance sheet accounts of Masefield Corporation on December 31, 2013. • (a) A 5% stock dividend is declared and distributed at a time when the market price per share is $39.

  13. ACCT 551 RANK Successful Learning / acct551rank.com • ACCT 551 Week 6 Homework E16-6, E16-7, E16-12, E16-22 • FOR MORE CLASSES VISIT • www.acct551rank.com • E16-6 (Conversion of Bonds) • On January 1, 2014, Gottlieb Corporation issued $4,000,000 of 10-year, 8% convertible debentures at 102. Interest is to be paid semiannually on June 30 and December 31. Each $1,000 debenture can be converted into eight shares of Gottlieb Corporation $100 par value common stock after December 31, 2015.

  14. ACCT 551 RANK Successful Learning / acct551rank.com • ACCT 551 Week 7 Homework E17-7, E17-9, E17-15 • FOR MORE CLASSES VISIT • www.acct551rank.com • E17-7 (Trading Securities Entries) On December 21, 2013, Bucky Katt Company provided you with the following information regarding its trading securities.

  15. ACCT 551 RANK Successful Learning / acct551rank.com

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