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ACC 304

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This 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 sha.....
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ACC 304 Final Exam Part 2 (2 Sets) 1       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.....
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ACC 304 Week 1 Chapter 8 Homework     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 .....
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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.   TRUE-FALSE—Conceptual       1.     A c.....
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ACC 304 Week 10 Chapter 16 Homework   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.   Prepare the journal entry to record t.....
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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.   TRUE FALSE—Conceptual       1.   &n.....
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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. 2)      Bell, Inc. buys 1,000 computer .....
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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 .....
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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 c.....
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ACC 304 Week 4 Quiz – Strayer NEW   Week 4 Quiz 3: Chapter 10       ACQUISITION AND DISPOSITION OF PROPERTY, PLANT, AND EQUIPMENT   IFRS questions are available at the end of this chapter.   TRUE-FALSE—Conceptual   .....
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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.   2)      Co.....
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The book value of a plant asset is   The asset turnover ratio is computed by dividing   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 .....
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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? Multiple Choice Question 102 Porter Resources Co.....
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ACC 304 Week 5 Midterm Part 1 (Set 3)       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.....
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ACC 304 Week 5 Midterm Part 2       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)       Ca.....
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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 valu.....
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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.   TRUE-FALSE—Conceptual       1.     Intangible assets d.....
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ACC 304 Week 7 Chapter 13 Homework   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 t.....
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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   According to the textbook, U.S. companies and foreign companies are affected by deprecation rules.....
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ACC 304 Week 8 Chapter 14 Homework   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 e.....
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ACC 304 Week 9 Quiz – Strayer NEW   Week 9 Quiz 5: Chapter 13, Quiz 6: Chapter 14       CURRENT LIABILITIES AND CONTINGENCIES   IFRS questions are available at the end of this chapter.   TRUE-FALSE—Conceptual   &nb.....
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ACC 304 Week 9 Chapter 15 Homework     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 .....
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