Acc 291 Genius

ACC 291 Entire Course and Final Guide
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ACC 291 Final Exam Guide (New)
Question 1 An aging of a company's accounts
receivable indicates that $4,500 are estimated to be
uncollectible. If Allowance for Doubtful Accounts has a
$1,200 credit balance, the adjustment to record bad
debts for the period will require a
Question 2 The financial statements of the Melton
Manufacturing Company reports net sales of $300,000
and accounts receivable of $50,000 and $30,000 at the
beginning of the year and end of year, respectively.
What is the average collection period for accounts
receivable in days?
Question 3 Stine Company purchased machinery with
a list price of $64,000. They were given a 10% discount
by the manufacturer. They paid $400 for shipping and
sales tax of $3,000. Stine estimates that the machinery
will have a useful life of 10 years and a residual value
of $20,000. If Stine uses straight-line depreciation,
annual depreciation will be
Question 4 On January 1, a machine with a useful life of
five years and a residual value of $40,000 was
purchased for $120,000. What is the depreciation
expense for year 2 under the double-declining-balance
method of depreciation?
Question 5 As a recent graduate of State University
you're aware that IFRS requires component
depreciation for plant assets. A friend has asked you to
succinctly explain what component depreciation
means. Which of the following ly describes component
depreciation?
Question 6 Given the following account balances at
year end, compute the total intangible assets on the
balance sheet of Janssen Enterprises.
Cash $1,500,000
Accounts Receivable 4,000,000
Trademarks 1,000,000
Goodwill 2,500,000
Research & Development Costs 2,000,000
Question 7 Bonds with a face value of $300,000 and a
quoted price of 97 have a selling price of
Question 8 Sparks Company received proceeds of
$423,000 on 10-year, 8% bonds issued on January 1,
2013. The bonds had a face value of $400,000, pay
interest annually on December 31st, and have a call
price of 102. Sparks uses the straight-line method of
amortization. What is the carrying value of the bonds
on January 1, 2015?
Question 9 S. Lawyer performed legal services for E.
Corp. Due to a cash shortage, an agreement was
reached whereby E. Corp. would pay S. Lawyer a legal
fee of approximately $15,000 by issuing 8,000 shares
of its common stock (par $1). The stock trades on a
daily basis and the market price of the stock on the day
the debt was settled is $1.80 per share. Given this
information, the best journal entry for E. Corp. to record
for this transaction is
Question 10 Logan Corporation issues 50,000 shares
of $50 par value preferred stock for cash at $60 per
share. The entry to record the transaction will consist
of a debit to Cash for $3,000,000 and a credit or credits
to
Question 11 Jahnke Corporation issued 8,000 shares of
2 par value ordinary shares for 11 per share. The
journal entry to record the sale will include
Question 12 Zoum Corporation had the following
transactions during 2014:
1. Issued $125,000 of par value common stock for
cash.
2. Recorded and paid wages expense of $60,000.
3. Acquired land by issuing common stock of par
value $50,000.
4. Declared and paid a cash dividend of $10,000.
Question 13 Colie Company had an increase in
inventory of $120,000. The cost of goods sold was
$490,000. There was a $30,000 decrease in accounts
payable from the prior period. Using the direct method
of reporting cash flows from operating activities, what
were Colie's cash payments to suppliers?
Question 14 Each of the following items may be
classified as operating or financing activities under
IFRS except
Question 15 The current assets of Orangatte Company
are $227,500. The current liabilities are $130,000. The
current ratio expressed as a proportion is
Question 16 All of the following requirements about
internal controls were enacted under the Sarbanes
Oxley Act of 2002 except:
Question 17 Which of the following is not an internal
control activity for cash?
Question 18 Before a check authorization is issued, the
following documents must be in agreement, except for
the
Question 19 Mitchell Corporation bought equipment on
January 1, 2014 .The equipment cost $180,000 and had
an expected salvage value of $30,000. The life of the
equipment was estimated to be 6 years. The book
value of the equipment at the beginning of the third
year would be
Question 20Brevard Corporation purchased a taxicab
on January 1, 2013 for $25,500 to use for its shuttle
business. The cab is expected to have a five-year
useful life and no salvage value. During 2014, it
retouched the cab's paint at a cost of $1,200, replaced
the transmission for $3,000 (which extended its life by
an additional 2 years), and tuned-up the motor for
$150. If Brevard Corporation uses straight-line
depreciation, what annual depreciation will Brevard
report for 2014?
Question 21 On July 1, 2014, Fleming Company sells
machinery for $120,000. The machinery originally cost
$300,000, had an estimated 5-year life and an
expected salvage value of $50,000. The Accumulated
Depreciation account had a balance of $175,000 on
January 1, 2014, using the straight-line method. The
gain or loss on disposal is
Question 22 On July 1, 2014, Linden Company
purchased the copyright to Norman Computer Tutorials
for $140,000. It is estimated that the copyright will
have a useful life of 5 years. The amount of
Amortization Expense recognized for the year 2014
would be
Question 23 The following totals for the month of April
were taken from the payroll records of Metz Company.
Salaries $30,000
FICA taxes withheld 2,295
Income taxes withheld 6,600
Medical insurance deductions 1,200
Federal unemployment taxes 240
State unemployment taxes 1,500
Question 24 Thayer Company purchased a building
on January 2 by signing a long-term $2,520,000
mortgage with monthly payments of $23,100. The
mortgage carries an interest rate of 10 percent. The
amount owed on the mortgage after the first payment
will be
Question 25
The following data is available for BOX Corporation at
December 31, 2014:
Common stock, par $10 (authorized 30,000 shares)
$250,000
Treasury stock (at cost $15 per share) $1,200
Based on the data, how many shares of common stock
are outstanding?
Question 26
Indicate the respective effects of the declaration of a
cash dividend on the following balance sheet sections:
Question 27 Assume the following cost of goods sold
data for a company:
2015 $1,300,000
2014 1,200,000
2013 1,000,000
If 2013 is the base year, what is the percentage
increase in cost of goods sold from 2013 to 2015?
Question 28 A company has an average inventory
on hand of $75,000 and its average days in inventory is
36.5 days. What is the cost of goods sold?
Question 29 The following information is available for
Patterson Company:
2014 2013
Question 30 Your answer has been saved and sent for
grading. See Grade book for score details.
All of the following situations below might indicate a
company has a low quality of earnings except
Question 31 IFRS
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ACC 291 Final Exam Guide
we have another New set of Final Exam Guide which could be found
on this link
1)Hahn Company uses the percentage of sales method for recording

bad debts expense. For the year, cash sales are $300,000 and credit
sales are $1,200,000. Management estimates that 1% is the sales
percentage to use. What adjusting entry will Hahn Company make to
record the bad debts expense?
2) Using the percentage of receivables method for recording bad
debts expense, estimated uncollectible accounts are $15,000. If the
balance of the Allowance for Doubtful Accounts is $3,000 credit
before adjustment, what is the amount of bad debts expense for that
period?
3) Intangible assets
4) Intangible assets are the rights and privileges that result from
ownership of long-lived assets that
5) The book value of an asset is equal to the
6) Gains on an exchange of plant assets that has commercial

substance are
7) Ordinary repairs are expenditures to maintain the operating

efficiency of a plant asset and are referred to as
8) Costs incurred to increase the operating efficiency or useful life of

a plant asset are referred to as
9) When an interest-bearing note matures, the balance in the Notes

Payable account is
10) The interest charged on a $200,000 note payable, at a rate of 6%,
on a 2-month note would be
11) If a corporation issued $3,000,000 in bonds which pay 10%

annual interest, what is the annual net cash cost of this borrowing if
the income tax rate is 30%?
12) Hilton Company issued a four-year interest-bearing note payable

for $300,000 on January 1, 2011. Each January the company is
required to pay $75,000 on the note. How will this note be reported
on the December 31, 2012 balance sheet?
13) A corporation issued $600,000, 10%, 5-year bonds on January 1,

2011 for 648,666, which reflects an effective-interest rate of 8%.
Interest is paid semiannually on January 1 and July 1. If the
corporation uses the effective-interest method of amortization of bond
premium, the amount of bond interest expense to be recognized on
July 1, 2011, is
14) When the effective-interest method of bond discount amortization

is used
15) If a corporation has only one class of stock, it is referred to as
16) Capital stock to which the charter has assigned a value per share
is called
17) ABC, Inc. has 1,000 shares of 5%, $100 par value, cumulative
preferred stock and 50,000 shares of $1 par value common stock
outstanding at December 31, 2011. What is the annual dividend on
the preferred stock?
18) Manner, Inc. has 5,000 shares of 5%, $100 par value,
noncumulative preferred stock and 20,000 shares of $1 par value
common stock outstanding at December 31, 2011. There were no
dividends declared in 2010. The board of directors declares and pays
a $45,000 dividend in 2011. What is the amount of dividends received
by the common stockholders in 2011?
19) When the selling price of treasury stock is greater than its cost,
the company credits the difference to
20) The purchase of treasury stock
21) Marsh Company has other operating expenses of $240,000. There

has been an increase in prepaid expenses of $16,000 during the year,
and accrued liabilities are $24,000 lower than in the prior period.
Using the direct method of reporting cash flows from operating
22) Where would the event purchased land for cash appear, if at all,
on the indirect statement of cash flows?
23) In performing a vertical analysis, the base for cost of goods sold
is
A. total selling expenses
24) Blanco, Inc. has the following income statement (in millions):
Using vertical analysis, what percentage is assigned to Net Income?
25) Dawson Company issued 500 shares of no-par common stock for
$4,500. Which of the following journal entries would be made if the
stock has a stated value of $2 per share?
26) Andrews, Inc. paid $45,000 to buy back 9,000 shares of its $1 par
value common stock. This stock was sold later at a selling price of $6
per share. The entry to record the sale includes a
27) Which of the following is a fundamental factor in having an

effective, ethical corporate culture?
28) Two individuals at a retail store work the same cash register. You
evaluate this situation as
29) The Sarbanes-Oxley Act imposed which new penalty for

executives?
30) The Sarbanes-Oxley Act requires that all publicly traded

companies maintain a system of internal controls. Internal controls
can be defined as a plan to
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ACC 291 Final Exam Guide
ACC 291 Final Exam Study Guide
Question 207
On January 1, a machine with a useful life of five years and a
residual value of $40,000 was purchased for $120,000. What is the
depreciation expense for year 2 under the double-declining-balance
method of depreciation?
IFRS Multiple Choice Question 01
As a recent graduate of State University you're aware that IFRS
requires component depreciation for plant assets. A friend has asked
you to succinctly explain what component depreciation means. Which
of the following correctly describes component depreciation?
Multiple Choice Question 198
Given the following account balances at year end, compute the total
intangible assets on the balance sheet of Janssen Enterprises.
Cash $1,500,000
Accounts Receivable 4,000,000
Trademarks 1,000,000
Goodwill 2,500,000
Research & Development Costs 2,000,000
Explanation: Intangible Assets = Goodwill + Trademarks =
3,500,000

Bonds with a face value of $300,000 and a quoted price of 97 have
a selling price of
Sparks Company received proceeds of $423,000 on 10-year, 8%
bonds issued on January 1, 2013. The bonds had a face value of
$400,000, pay interest annually on December 31st, and have a call
price of 102. Sparks uses the straight-line method of amortization.
What is the carrying value of the bonds on January 1, 2015?
Multiple Choice Question

S. Lawyer performed legal services for E. Corp. Due to a cash
shortage, an agreement was reached whereby E. Corp. would pay S.
Lawyer a legal fee of approximately $15,000 by issuing 8,000 shares
of its common stock (par $1). The stock trades on a daily basis and
the market price of the stock on the day the debt was settled is $1.80
per share. Given this information, the best journal entry for E. Corp.
to record for this transaction is
Logan Corporation issues 50,000 shares of $50 par value preferred
stock for cash at $60 per share. The entry to record the transaction
will consist of a debit to Cash for $3,000,000 and a credit or credits
to

Jahnke Corporation issued 8,000 shares of 2 par value ordinary
shares for 11 per share. The journal entry to record the sale will
include
Zoum Corporation had the following transactions during 2014:
1. Issued $125,000 of par value common stock for cash.
2. Recorded and paid wages expense of $60,000.
3. Acquired land by issuing common stock of par value $50,000.
4. Declared and paid a cash dividend of $10,000.
5. Sold a long-term investment (cost $3,000) for cash of $3,000.
6. Recorded cash sales of $400,000.
7. Bought inventory for cash of $160,000.
8. Acquired an investment in Zynga stock for cash of $21,000.
9. Converted bonds payable to common stock in the amount of
$500,000.
10. Repaid a 6 year note payable in the amount of $220,000.
What is the net cash provided by financing activities?

Colie Company had an increase in inventory of $120,000. The cost of
goods sold was $490,000. There was a $30,000 decrease in accounts
payable from the prior period. Using the direct method of reporting
cash flows from operating activities, what were Colie's cash payments
to suppliers?

Each of the following items may be classified as operating or
financing activities under IFRS except
The current assets of Orangatte Company are $227,500. The current
liabilities are $130,000. The current ratio expressed as a proportion
is
All of the following requirements about internal controls were enacted
under the Sarbanes Oxley Act of 2002 except:
Explanation: Redundant controls are actually a good thing because
they help close potential auditing loopholes.
Which of the following is not an internal control activity for cash?
Before a check authorization is issued, the following documents must
be in agreement, except for the
receiving report.
invoice.
purchase order.
remittance advice.
Mitchell Corporation bought equipment on January 1, 2014 .The
equipment cost $180,000 and had an expected salvage value of
$30,000. The life of the equipment was estimated to be 6 years. The
book value of the equipment at the beginning of the third year would
be
Explanation: Depreciation would be 25K per year, thus 130K at the

beginning of year 3.
Brevard Corporation purchased a taxicab on January 1, 2013 for
$25,500 to use for its shuttle business. The cab is expected to have a
five-year useful life and no salvage value. During 2014, it retouched
the cab's paint at a cost of $1,200, replaced the transmission for
$3,000 (which extended its life by an additional 2 years), and tuned-
up the motor for $150. If Brevard Corporation uses straight-line
depreciation, what annual depreciation will Brevard report for 2014?
On July 1, 2014, Fleming Company sells machinery for $120,000.
The machinery originally cost $300,000, had an estimated 5-year life
and an expected salvage value of $50,000. The Accumulated
Depreciation account had a balance of $175,000 on January 1, 2014,
using the straight-line method. The gain or loss on disposal is
On July 1, 2014, Linden Company purchased the copyright to
Norman Computer Tutorials for $140,000. It is estimated that the
copyright will have a useful life of 5 years. The amount of
Amortization Expense recognized for the year 2014 would be
The following totals for the month of April were taken from the
payroll records of Metz Company.
Salaries $30,000
FICA taxes withheld 2,295
Income taxes withheld 6,600
Medical insurance deductions 1,200
Federal unemployment taxes 240
State unemployment taxes 1,500
The entry to record accrual of employers payroll taxes would
include a
Thayer Company purchased a building on January 2 by signing a
long-term $2,520,000 mortgage with monthly payments of $23,100.
The mortgage carries an interest rate of 10 percent. The amount owed
on the mortgage after the first payment will be
The following data is available for BOX Corporation at December
31, 2014:
Common stock, par $10 (authorized 30,000 shares) $250,000
Treasury stock (at cost $15 per share) $1,200
Based on the data, how many shares of common stock are
outstanding?
Indicate the respective effects of the declaration of a cash dividend on
the following balance sheet sections:
Total Assets Total Liabilities Total Stockholders'
Equity
Assume the following cost of goods sold data for a company:
If 2013 is the base year, what is the percentage increase in cost of

goods sold from 2013 to 2015?
A company has an average inventory on hand of $75,000 and its
average days in inventory is 36.5 days. What is the cost of goods
sold?
The following information is available for Patterson Company:
2014 2013
Accounts receivable $ 360,000 $ 340,000
Inventory 280,000 320,000
Net credit sales 3,000,000 2,600,000
Cost of goods sold 1,500,000 840,000
Net income 300,000 170,000
The accounts receivable turnover for 2014 is
All of the following situations below might indicate a company has a
low quality of earnings except
A lack of disclosure about guaranteed payments that were
mentioned in the MD&A of the annual report.
Maintenance costs are capitalized and then depreciated.
Revenue is recognized when earned.
Adoption of a different inventory method for each of the last
three years.
IFRS
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ACC 291 Week 1 Assignment Comparative Analysis Problem
Purpose of Assignment The purpose of this assignment
is to help you understand the basics of financial
statement analysis using financial ratios on the assets
section of the balance sheet, data interpretation, and
how ratios are used to gain insight about the
management of receivable. Assignment Steps
Resources: Financial Accounting: Tools for Business
Decision Making Develop an 875-word analysis
providing conclusions concerning the management of
accounts receivable based on the financial statements
of Columbia Sportswear Company presented in
Appendix B and the financial statements of VF
Corporation presented in Appendix C, including the
following: Based on the information contained in these
financial statement, compute the following 2014 values
for each company: What conclusions concerning the
management of accounts receivable can be drawn from
this data? Accounts receivable turnover (For VF, use
Net sales and assume all sales were credit sales)
Average collection period for accounts receivable Use
the Week 1 Excel spreadsheet to show your work and
submit with your analysis. Click the Assignment Files
tab to submit your assignment.
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ACC 291 Week 1 Discussion Question 1
How would you describe the entries to record the disposition of
accounts receivables?
What is their function?
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How are bad debts accounted for under the direct write-off method?
What are the disadvantages of this method?
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ACC 291 Week 1 Wileyplus Assignment E8-4, E8-11, BYP8-
1, and BYP8-2 (New)
Wiley Plus Assignment Week 1
E8-4, E8-11, BYP8-1, and BYP8-2 in MS Excel
Exercise 8-4 Wainwright Company
Exercise 8-11 Fedex Corporation
Broadening your Perspective 8-1 Tootsie Roll
Broadening your Perspective 8-2 Tootsie Roll and

Hershey
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ACC 291 Week 2 - Fordyce and Atwater (New)
P10-5A
Fordyce Electronics issues a $400,000, 8%, 10-year mortgage note

on December 31, 2007. The proceeds from the note are to be used in
financing a new research laboratory. The terms of the note provide
for semiannualinstallment payments, exclusive of real estate taxes
and insurance, of $29,433. Payments are due June 30 and December
31.
Complete the installment payments schedule for the first 2 years.

(Round answers to 0 decimal places, e.g. 125. Use rounded amounts
for future calculations.)
Prepare the entries for (1) the loan and (2) the first two installment
payments. (For multiple debit/credit entries, list amounts from largest
to smallest eg 10, 5, 3,
2.) Show how the total mortgage liability should be reported on the
balance sheet at December 31, 2008.
P10-6A
On July 1, 2011, Atwater Corporation issued $2,098,000 face value,

12%, 10-year bonds at $2,507,354. This price resulted in an effective-
interest rate of 9% on the bonds. Atwater uses the effective-interest
method to amortize bond premium or discount. The bonds pay
semiannual interest July 1 and January 1.
Prepare an amortization table through December 31, 2012 (3 interest

periods) for this bond issue.
Prepare the journal entry to record the accrual of interest and the
amortization of the premium on December 31, 2011
Prepare the journal entry to record the payment of interest and the
amortization of the premium on July 1, 2012, assuming no accrual of
interest on June 30
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ACC 291 Week 2 Assignment Financial Reporting Problem,

Apple Inc

is to help you understand the basics of financial
statement analysis related to the assets section of the
balance sheet, data interpretation, and how financial
information is obtained to understand how a company
accounts for its long-lived assets. Assignment Steps
Resources: Financial Accounting: Tools for Business
Decision Making Note: The financial statements of
Apple, Inc. are presented in Appendix A of Financial
Accounting. Instructions for accessing and using the
company's complete annual report, including the notes
to the financial statements, are also provided in
Appendix A. Complete a 1,050-word summary of
findings and recommendations from the following
questions: What were the total cost and book value of
property, plant, and equipment at September 27,
2014? Using the notes to find financial statements,
what method or methods of depreciation are used by
Apple for financial reporting purposes? What was the
amount of depreciation and amortization expense for
each of the three years 2012-2014? (Hint: Use the
statement of cash flows). Using the statement of cash
flows, what are the amounts of property, plant, and
equipment purchased in 2014 and 2013? Using the
notes to the financial statements, explain in the
summary how Apple accounted for its intangible assets
in 2014. Use the Week 2 Excel spreadsheet to show
your work and submit with your summary. Click the
Assignment Files tab to submit your assignment.
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What are the differences among valuation, depreciation, amortization,
and depletion?
Is it appropriate to calculate depreciation using two different
methods? Why?
What does the Annual Report you are using for class say about
depreciation?
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What types of industries have unearned revenue?
Why is unearned revenue considered a liability?
When is the unearned revenue recognized in the financial statements?
What does your Annual Report say about unearned revenue?
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ACC 291 Week 2 Individual WileyPLUS Assignment Week

Two
we have another New set of week 2 Willeyplus assignment which
could be found on this link
Resource:WileyPLUS
Complete the followingWileyPLUS Week Two Exercises and Problem:
Exercise E8-3
Exercise BE9-13
Exercise Do It! 9-4
Exercise E9-9
Exercise E9-10
Problem P9-5A
Submit your results through the Gradebook ASSIGNMENTS. Screen

prints or shots are acceptable on a WORD document.
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ACC 291 Week 2 IndividualWileyPLUS PracticeCh 8,9,10

Quiz
Resource:WileyPLUS
Complete the WileyPLUS Week Two Practice Quizzes
for chapters 8, 9, and 10. Submit your results through
the Gradebook ASSIGNMENTS. Screen prints or shots
are acceptable on a WORD document.
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ACC 291 Week 2 Learning Team Weekly Reflection
Discuss the objectives for Weeks One and Two. Your
discussion should include the topics you feel
comfortable with, any topics you struggled with, and
how the weekly topics relate to application in your
field.
Write a 350- to 1,050-word summary of the teams
discussion.
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ACC 291 Week 2 Wileyplus Assignment P8-3A, BE9-11,

DI9-5, E9-7, E9-8, BYP9, P9-2A (New)
P8-3A, BE9-11, DI9-5, E9-7, E9-8, BYP9, P9-2A.
Problem 8-3A: Bosworth Company

Brief Exercise 9-11: Nike, Inc.
Do It! 9-5
Exercise 9-7: Wang, Co.
Exercise 9-8: Cleand Company
Broadening Your Perspective 9-1: Tootsie Roll
Broadening Your Perspective 9-2: Tootsie& Hershey
Problem 9-2A: Navaro Corporation
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ACC 291 Week 3 Assignment The Liabilities Section of
OBrians Balance Sheet
is to help you understand the balance sheet
presentation for the liabilities of a company.
Assignment Steps Resources: Financial Accounting:
Tools for Business Decision Making Prepare the
liabilities section of OBrians balance sheet using the
following information: Accounts payable $157,000
Notes payable (due May 1, 2018) $20,000 Bonds
payable (due 2021) $900,000 Unearned rent revenue
$240,000 Discount on bonds payable $41,000 FICA
taxes payable $7,800 Interest payable (due 2019)
$80,000 Income taxes payable $3,500 Sales taxes
payable $1,700 The Liabilities Section of OBrians
balance sheet must be 525 words. Show work on the
Week 3 Excel spreadsheet. Note: This assignment
requires that you only submit an Excel Workbook file.
There are no written or APA guideline requirements.
Click the Assignment Files tab to submit your
assignment.
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Why does a company choose to form as a corporation?
What are the steps required to become a corporation?
What are the advantages and disadvantages of the corporate form of

doing business?
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Why is preferred stock referred to as preferred?
What are some of the features added to preferred stock that make it
more attractive to investors?
Would you select preferred stock or common stock as an investment?
Why?
Provide stock details from your Annual Report.
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ACC 291 Week 3 Individual WileyPLUS Assignment
Resource:WileyPLUS
Complete the followingWileyPLUS Week Three Exercises and

Problems:
Exercise E9-7
Exercise E10-5
Exercise E10-10
Exercise E10-11
Exercise E10-15
Exercise E10-18
Problem P10-5A
Problem P10-9A
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ACC 291 Week 3 Individual WileyPLUS Practice Quiz Ch.

11,12
Resource:WileyPLUS
Complete the WileyPLUS Week Three Practice Quizzes
for chapters 11 and 12.
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Discuss the objectives for Week Three. Your discussion
should include the topics you feel comfortable with,
any topics you struggled with, and how the weekly
topics relate to application in your field.

discussion.
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ACC 291 Week 3 Wileyplus Assignment P9-7A, E10-5, E10-
8, E10-13, E10-22, E10-24, BYP10, P10-9A, P10-13A,
IFRS10-4 (New)
P9-7A, E10-5, E10-8, E10-13, E10-22, E10-24,
BYP10, P10-9A, P10-13A, IFRS10-4.
Exercise 10-5: Olinger Company
Exercise 10-8: Ortega Company
Exercise 10-13: Romine Company
Exercise 10-22: Cole Corporation
Exercise 10-24: Nance, Co.
Broadening Your Perspective 10-1: Tootsie Roll
Broadening Your Perspective 10-2: Tootsie&

Hershey
Problem 9-7A: Farr Company
Problem 10-9A: Wempe, Co.
Problem 10-13A: Grace Herron
IFRS10-4: Ratzlaff
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Why are companies required to prepare a statement of cash flows?
Why is the statement of cash flows divided into three sections?
What does each section tell you about the operations of a company?
What are the differences between the direct and indirect presentation
of cash flows?
Why does the Financial Accounting Standards Board allow both

methods? Which do you prefer? Why?
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What are some common ratios used to analyze financial information?
Which are the most important?
What are some examples of how ratios are used in the decision
making process?
Two popular methods of financial statement analysis are horizontal

analysis and vertical analysis. What are the differences between
these two methods?
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ACC 291 Week 4 Individual WileyPLUS Assignment
Resource:WileyPLUS
Complete the following WileyPLUS Week Four Exercises and

Problems:
Exercise Do It! 11-1
Exercise E11-15
Exercise E11-16
Problem P11-6A
Problem P11-8A
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ACC 291 Week 4 IndividualWileyPLUS Practice
Resource:WileyPLUS
Complete the WileyPLUS Week Four Practice Quizzes
for chapters 13 and 14.
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Discuss the objectives for Week Four. Your discussion

discussion.
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ACC 291 WEEK 4 Stockholders Equity Section of the

Balance Sheet (Lachlin Corporation Balance Sheet)
is to help you become familiar with examining the
stockholders' equity section of the balance sheet.
Assignment Steps Resources: Financial Accounting:
Tools for Business Decision Making Answer the
following questions in 1,050 words using the Lachlin
Corporation Balance Sheet (partial) below: How many
shares of common stock are outstanding? Assuming
there is a stated value, what is the stated value of the
common stock? What is the par value of the preferred
stock? If the annual dividend on preferred stock is
$36,000, what is the dividend rate on preferred stock?
If dividends of $72,000 were in arrears on preferred
stock, what would be the balance reported for retained
earnings?
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ACC 291 Week 4 Wileyplus Assignment Do It! 11-1, E11-5,

E11-7, BYP11-1, BYP11-2, P11-5A, P11-8A (New)
Do It! 11-1, E11-5, E11-7, BYP11-1, BYP11-2,
P11-5A, P11-8A.
Do It! 11-1
Exercise 11-5 Garcia Corporation
Exercise 11-7 Pele Company
Broadening Your Perspective 11-1 Tootsie Roll
Broadening Your Perspective 11-2 Tootsie Roll &

Hershey
Problem 11-5A Pringle Corporation
Problem 11-8A Everett Corporation
----------------------------------------------
Why do corporations buy back their own stock?
What does it tell you about the corporation?
What effect does the purchase have on the price of a companys

stock?
Does your Annual Report discuss stock repurchase or balances of

treasury stock?
----------------------------------------------
ACC 291 Week 5 Individual Effect of Unethical Behavior

Article Analysis
Write a 350- to 700-word article analysis in which you
identify situations that might lead to unethical
practices and behavior in accounting.
Examine the effect of the Sarbanes-Oxley Act of 2002
on financial statements.
Cite one article from the Electronic Reserve Readings,

the Internet, or other resources.
Formatyour paper consistent with APA guidelines.

----------------------------------------------
ACC 291 Week 5 Individual WileyPLUSAssignment
we have another New set of week 5 Willyplus assignment which
ACC 291 Week 5 Wileyplus Assignment E7-3, E12-1, E12-8, P12-

9A, P12-10A, E13-3, E13-4, IFRS13-1, P13-2A (New)
Resource:WileyPLUS
Complete the following Week Five WileyPLUSExercises and

Problems:
Exercise E13-1
Exercise E13-8
Exercise E14-1
Problem P13-9A
Problem P13-10A
Problem P14-2A
----------------------------------------------
ACC 291 Week 5 Learning Team Ratio Analysis Memo
Resource:Virtual Organizations
Click the Virtual Organization link on the student
website to access the Virtual Organizations.
Select one of the Virtual Organizations as the basis for
the assignment.
Obtain faculty approval of your selected organization
before beginning the assignment.
Access the information contained in your selected
organizations balance sheet and income statement to
calculate the following:
Liquidity ratios
o Current ratio
o Acid-test,or quick, ratio
o Receivables turnover
o Inventory turnover
Profitability ratios
o Asset turnover
o Profit margin
o Return on assets
o Return on common stockholders equity
Solvency ratios
o Debt to total assets
o Times interest earned
Showyour calculations for each ratio.

Create a horizontal and vertical analysis for the
balance sheet and the income statement.
Write a 350- to 700-word memo to the CEO of your
selected organization in which you discuss your
findings from your ratio calculations and your
horizontal and vertical analysis. In your memo, address
the following questions:
What do the liquidity, profitability, and solvency

ratios reveal about the companys financial
position?
Which users may be interested in each type of

ratio?
What does the collected data reveal about the

companys performance and position?
----------------------------------------------
Discuss the objectives for Week Five. Your discussion

discussion.

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ACC 291 Entire Course and Final Guide

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ACC 291 is a online tutorial store we provides ACC 291

ACC 291 Final Exam Guide (New)

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ACC 291 Final Exam Guide

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1)Hahn Company uses the percentage of sales method for recording

5) The book value of an asset is equal to the

6) Gains on an exchange of plant assets that has commercial

7) Ordinary repairs are expenditures to maintain the operating

8) Costs incurred to increase the operating efficiency or useful life of

9) When an interest-bearing note matures, the balance in the Notes

11) If a corporation issued $3,000,000 in bonds which pay 10%

12) Hilton Company issued a four-year interest-bearing note payable

13) A corporation issued $600,000, 10%, 5-year bonds on January 1,

14) When the effective-interest method of bond discount amortization

15) If a corporation has only one class of stock, it is referred to as

20) The purchase of treasury stock

21) Marsh Company has other operating expenses of $240,000. There

Using vertical analysis, what percentage is assigned to Net Income?

27) Which of the following is a fundamental factor in having an

29) The Sarbanes-Oxley Act imposed which new penalty for

30) The Sarbanes-Oxley Act requires that all publicly traded

ACC 291 Final Exam Guide

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Multiple Choice Question 146

Multiple Choice Question

IFRS Multiple Choice Question 01

Multiple Choice Question 176

IFRS Multiple Choice Question 04

Explanation: Depreciation would be 25K per year, thus 130K at the

If 2013 is the base year, what is the percentage increase in cost of

ACC 291 Week 1 Assignment Comparative Analysis Problem

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ACC 291 Week 1 Discussion Question 1

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What is their function?

ACC 291 Week 1 Discussion Question 2

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What are the disadvantages of this method?

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Exercise 8-4 Wainwright Company

Exercise 8-11 Fedex Corporation

Broadening your Perspective 8-1 Tootsie Roll

Broadening your Perspective 8-2 Tootsie Roll and

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Fordyce Electronics issues a $400,000, 8%, 10-year mortgage note

Complete the installment payments schedule for the first 2 years.

On July 1, 2011, Atwater Corporation issued $2,098,000 face value,

Prepare an amortization table through December 31, 2012 (3 interest

ACC 291 Week 2 Assignment Financial Reporting Problem,

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ACC 291 Week 2 Discussion Question 2

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ACC 291 Week 2 Individual WileyPLUS Assignment Week

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Complete the followingWileyPLUS Week Two Exercises and Problem:

Exercise Do It! 9-4

Submit your results through the Gradebook ASSIGNMENTS. Screen

ACC 291 Week 2 IndividualWileyPLUS PracticeCh 8,9,10

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ACC 291 Week 2 Learning Team Weekly Reflection