Acc 291 Week 5 Final Exam 1

In: Other Topics

Submitted By lucillekohlerab
Words 1290
Pages 6
ACC 291 Week 5 Final Exam 1

Purchase here

http://chosecourses.com/acc-291-final-exam-1

Description

ACC 291 Sample Final Exam

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

Multiple Choice Question 146

Bonds with a face value of $300,000 and a quoted price of 97¼ have a selling price of

Multiple Choice Question 188

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 90

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…...

Similar Documents

Acc 291 Week 5 Final Exam (05 Sets)

...ACC 291 Week 5 Final Exam (05 Sets) Purchase here http://chosecourses.com/acc-291-week-5-final-exam-05-sets Product Description ACC 291 Sample Final Exams ACC 291 Final Exam 1 = 30 Questions and Answers ACC 291 Final Exam 2 = 30 Questions and Answers ACC 291 Final Exam 3 = 30 Questions and Answers ACC 291 Final Exam 4 = 30 Questions and Answers ACC 291 Final Exam 5 = 30 Questions and Answers ACC 291 Week 5 Final Exam (05 Sets) Purchase here http://chosecourses.com/acc-291-week-5-final-exam-05-sets Product Description ACC 291 Sample Final Exams ACC 291 Final Exam 1 = 30 Questions and Answers ACC 291 Final Exam 2 = 30 Questions and Answers ACC 291 Final Exam 3 = 30 Questions and Answers ACC 291 Final Exam 4 = 30 Questions and Answers ACC 291 Final Exam 5 = 30 Questions and Answers ACC 291 Week 5 Final Exam (05 Sets) Purchase here http://chosecourses.com/acc-291-week-5-final-exam-05-sets Product Description ACC 291 Sample Final Exams ACC 291 Final Exam 1 = 30 Questions and Answers ACC 291 Final Exam 2 = 30 Questions and Answers ACC 291 Final Exam 3 = 30 Questions and Answers ACC 291 Final Exam 4 = 30 Questions and Answers ACC 291 Final Exam 5 = 30 Questions and Answers ACC 291 Week 5 Final Exam (05 Sets) Purchase here http://chosecourses.com/acc-291-week-5-final-exam-05-sets Product Description ACC 291 Sample......

Words: 365 - Pages: 2

Acc 290 Principles of Accounting 1 Week 1 to 5 + Final Exam

...ACC 290 Principles of Accounting 1 Week 1 to 5 + Final Exam Purchase here http://homeworkonestop.com/acc-290-principles-of-accounting-week-1-to-5-final-exam Product Description Week 1 Wileyplus Assignment, DI1-3, E1-3, E1-4, E2-4, IFRS2-4 Individual Assignment: Financial Statements paper Discussion Questions 1, 2, 3 Weekly Summary Week 2 Wileyplus Assignment, BYP2-2, IFRS2-6, E3-4, E3-8, E3-10, BYP3-2, IFRS 3-2, P3-5A, P3-6A Learning Team Reflection Summary Discussion Questions 1, 2, 3, 4 Weekly Summary Week 3 Wileyplus Assignment, BE4-1, P4-2A, P4-3A, BYP4-1-2 Learning Team Reflection Summary Weekly Summary Discussion Questions 1, 2, 3, 4 Week 4 Wileyplus Assignment P4-8A, BYP5-1, BYP5-2, BE5-1, BE5-2, IFRS5-2, IFRS5-4, Do it 5-3, 5-4 Learning Team, Financial Reporting Problem Part 1, Ford Company Learning Team Assignment, Financial Reporting Problem Part 1, PepsiCO Learning Team Reflection Summary Weekly Summary Discussion Questions 1, 2, 3 Week 5 Individual Assignment, Brief Exercises (BE5–1, BE5–2, BE6-5, BE6-7, BE7-4, BE7-6) Learning Team Assignment, Financial Reporting Problem Part 2, Ford Company Learning Team Assignment, Financial Reporting Problem Part 2, PepsiCo Learning Team Reflection Summary Discussion Questions 1, 2, 3 Weekly Summary Final Exam (30 Questions and Answers) ACC 290 Principles of Accounting 1 Week 1 to 5 + Final Exam Purchase......

Words: 2677 - Pages: 11

Acc 291 Week 5 Final Exam (05 Sets)

...ACC 291 Week 5 Final Exam (05 Sets) Purchase here http://homeworkonestop.com/acc-291-week-5-final-exam-05-sets Product Description ACC 291 Sample Final Exams ACC 291 Final Exam 1 = 30 Questions and Answers ACC 291 Final Exam 2 = 30 Questions and Answers ACC 291 Final Exam 3 = 30 Questions and Answers ACC 291 Final Exam 4 = 30 Questions and Answers ACC 291 Final Exam 5 = 30 Questions and Answers ACC 291 Week 5 Final Exam (05 Sets) Purchase here http://homeworkonestop.com/acc-291-week-5-final-exam-05-sets Product Description ACC 291 Sample Final Exams ACC 291 Final Exam 1 = 30 Questions and Answers ACC 291 Final Exam 2 = 30 Questions and Answers ACC 291 Final Exam 3 = 30 Questions and Answers ACC 291 Final Exam 4 = 30 Questions and Answers ACC 291 Final Exam 5 = 30 Questions and Answers ACC 291 Week 5 Final Exam (05 Sets) Purchase here http://homeworkonestop.com/acc-291-week-5-final-exam-05-sets Product Description ACC 291 Sample Final Exams ACC 291 Final Exam 1 = 30 Questions and Answers ACC 291 Final Exam 2 = 30 Questions and Answers ACC 291 Final Exam 3 = 30 Questions and Answers ACC 291 Final Exam 4 = 30 Questions and Answers ACC 291 Final Exam 5 = 30 Questions and Answers ACC 291 Week 5 Final Exam (05 Sets) Purchase here http://homeworkonestop.com/acc-291-week-5-final-exam-05-sets Product Description ACC 291 Sample Final Exams ACC 291 Final Exam 1 = 30......

Words: 657 - Pages: 3

Acc 290 Principles of Accounting 1 Week 1 to 5 + Final Exam

...ACC 290 Principles of Accounting 1 Week 1 to 5 + Final Exam Purchase here http://homeworkonestop.com/acc-290-principles-of-accounting-week-1-to-5-final-exam Product Description Week 1 Wileyplus Assignment, DI1-3, E1-3, E1-4, E2-4, IFRS2-4 Individual Assignment: Financial Statements paper Discussion Questions 1, 2, 3 Weekly Summary Week 2 Wileyplus Assignment, BYP2-2, IFRS2-6, E3-4, E3-8, E3-10, BYP3-2, IFRS 3-2, P3-5A, P3-6A Learning Team Reflection Summary Discussion Questions 1, 2, 3, 4 Weekly Summary Week 3 Wileyplus Assignment, BE4-1, P4-2A, P4-3A, BYP4-1-2 Learning Team Reflection Summary Weekly Summary Discussion Questions 1, 2, 3, 4 Week 4 Wileyplus Assignment P4-8A, BYP5-1, BYP5-2, BE5-1, BE5-2, IFRS5-2, IFRS5-4, Do it 5-3, 5-4 Learning Team, Financial Reporting Problem Part 1, Ford Company Learning Team Assignment, Financial Reporting Problem Part 1, PepsiCO Learning Team Reflection Summary Weekly Summary Discussion Questions 1, 2, 3 Week 5 Individual Assignment, Brief Exercises (BE5–1, BE5–2, BE6-5, BE6-7, BE7-4, BE7-6) Learning Team Assignment, Financial Reporting Problem Part 2, Ford Company Learning Team Assignment, Financial Reporting Problem Part 2, PepsiCo Learning Team Reflection Summary Discussion Questions 1, 2, 3 Weekly Summary Final Exam (30 Questions and Answers) ACC 290 Principles of Accounting 1 Week 1 to 5 + Final Exam Purchase......

Words: 2454 - Pages: 10

Acc 291 Week 5 Final Exam (05 Sets)

...ACC 291 Week 5 Final Exam (05 Sets) Purchase here http://homeworkonestop.com/acc-291-week-5-final-exam-05-sets Product Description ACC 291 Sample Final Exams ACC 291 Final Exam 1 = 30 Questions and Answers ACC 291 Final Exam 2 = 30 Questions and Answers ACC 291 Final Exam 3 = 30 Questions and Answers ACC 291 Final Exam 4 = 30 Questions and Answers ACC 291 Final Exam 5 = 30 Questions and Answers ACC 291 Week 5 Final Exam (05 Sets) Purchase here http://homeworkonestop.com/acc-291-week-5-final-exam-05-sets Product Description ACC 291 Sample Final Exams ACC 291 Final Exam 1 = 30 Questions and Answers ACC 291 Final Exam 2 = 30 Questions and Answers ACC 291 Final Exam 3 = 30 Questions and Answers ACC 291 Final Exam 4 = 30 Questions and Answers ACC 291 Final Exam 5 = 30 Questions and Answers ACC 291 Week 5 Final Exam (05 Sets) Purchase here http://homeworkonestop.com/acc-291-week-5-final-exam-05-sets Product Description ACC 291 Sample Final Exams ACC 291 Final Exam 1 = 30 Questions and Answers ACC 291 Final Exam 2 = 30 Questions and Answers ACC 291 Final Exam 3 = 30 Questions and Answers ACC 291 Final Exam 4 = 30 Questions and Answers ACC 291 Final Exam 5 = 30 Questions and Answers ACC 291 Week 5 Final Exam (05 Sets) Purchase here http://homeworkonestop.com/acc-291-week-5-final-exam-05-sets Product Description ACC 291 Sample Final Exams ACC 291 Final Exam 1 = 30......

Words: 1606 - Pages: 7

Acc 291 Week 5 Final Exam 5

...ACC 291 Week 5 Final Exam 5 Purchase here http://chosecourses.com/acc-291-week-5-final-exam-5 Description ACC 291 Final Exam 1) Intangible assets are the rights and privileges that result from ownership of long-lived assets that 2) Gains on an exchange of plant assets that has commercial substance are 3) 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? 4) When an interest-bearing note matures, the balance in the Notes Payable account is 5) Costs incurred to increase the operating efficiency or useful life of a plant asset are referred to as 6) 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? 7) When the effective-interest method of bond discount amortization is used 8) Capital stock to which the charter has assigned a value per share is called 9) 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......

Words: 815 - Pages: 4

Acc 291 Week 5 Final Exam 4

...ACC 291 Week 5 Final Exam 4 Purchase here http://chosecourses.com/acc-291-week-5-final-exam-4 Description ACC 291 Final Exam 1. Ordinary repairs are expenditures to maintain the operating efficiency of a plant asset and are referred to as 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. 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? 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......

Words: 828 - Pages: 4

Acc 291 Week 5 Final Exam 3

...ACC 291 Week 5 Final Exam 3 Purchase here http://chosecourses.com/acc-291-week-5-final-exam-3 Description ACC 291 Sample Final Exam 1) 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 2) The purchase of treasury stock 3) 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 activities, what were Marsh's cash payments for operating expenses? 4) Where would the event purchased land for cash appear, if at all, on the indirect statement of cash flows? 5) In performing a vertical analysis, the base for cost of goods sold is 6) Blanco, Inc. has the following income statement (in millions): 7) 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? 8) 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 9) Which of the following is a fundamental factor in having an effective, ethical corporate culture? 10) Two individuals at a retail store work the same cash register. You......

Words: 790 - Pages: 4

Acc 291 Week 5 Final Exam 2

...ACC 291 Week 5 Final Exam 2 Purchase here http://chosecourses.com/acc-291-week-5-final-exam-2 Description ACC 291 Sample Final Exam 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......

Words: 811 - Pages: 4

Acc 291 Week 5 Final Exam 3

...ACC 291 Week 5 Final Exam 3 Purchase here http://chosecourses.com/acc-291-week-5-final-exam-3 Description ACC 291 Sample Final Exam 1) 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 2) The purchase of treasury stock 3) 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 activities, what were Marsh's cash payments for operating expenses? 4) Where would the event purchased land for cash appear, if at all, on the indirect statement of cash flows? 5) In performing a vertical analysis, the base for cost of goods sold is 6) Blanco, Inc. has the following income statement (in millions): 7) 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? 8) 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 9) Which of the following is a fundamental factor in having an effective, ethical corporate culture? 10) Two individuals at a retail store work the same cash register. You......

Words: 2258 - Pages: 10

Acc 291 Week 5 Final Exam 4

...ACC 291 Week 5 Final Exam 4 Purchase here http://chosecourses.com/acc-291-week-5-final-exam-4 Description ACC 291 Final Exam 1. Ordinary repairs are expenditures to maintain the operating efficiency of a plant asset and are referred to as 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. 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? 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......

Words: 2482 - Pages: 10

Acc 291 Week 5 Final Exam 1

...ACC 291 Week 5 Final Exam 1 Purchase here http://chosecourses.com/acc-291-final-exam-1 Description ACC 291 Sample Final Exam 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 Multiple Choice Question 146 Bonds with a face value of $300,000 and a quoted price of 97¼ have a selling price of Multiple Choice Question 188 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......

Words: 5160 - Pages: 21

Acc 291 Week 5 Final Exam 2

...ACC 291 Week 5 Final Exam 2 Purchase here http://chosecourses.com/acc-291-week-5-final-exam-2 Description ACC 291 Sample Final Exam 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......

Words: 3244 - Pages: 13

Acc 291 Week 5 Final Exam (05 Sets)

...ACC 291 Week 5 Final Exam (05 Sets) Purchase here http://chosecourses.com/acc-291-week-5-final-exam-05-sets Product Description ACC 291 Sample Final Exams ACC 291 Final Exam 1 = 30 Questions and Answers ACC 291 Final Exam 2 = 30 Questions and Answers ACC 291 Final Exam 3 = 30 Questions and Answers ACC 291 Final Exam 4 = 30 Questions and Answers ACC 291 Final Exam 5 = 30 Questions and Answers ACC 291 Week 5 Final Exam (05 Sets) Purchase here http://chosecourses.com/acc-291-week-5-final-exam-05-sets Product Description ACC 291 Sample Final Exams ACC 291 Final Exam 1 = 30 Questions and Answers ACC 291 Final Exam 2 = 30 Questions and Answers ACC 291 Final Exam 3 = 30 Questions and Answers ACC 291 Final Exam 4 = 30 Questions and Answers ACC 291 Final Exam 5 = 30 Questions and Answers ACC 291 Week 5 Final Exam (05 Sets) Purchase here http://chosecourses.com/acc-291-week-5-final-exam-05-sets Product Description ACC 291 Sample Final Exams ACC 291 Final Exam 1 = 30 Questions and Answers ACC 291 Final Exam 2 = 30 Questions and Answers ACC 291 Final Exam 3 = 30 Questions and Answers ACC 291 Final Exam 4 = 30 Questions and Answers ACC 291 Final Exam 5 = 30 Questions and Answers ACC 291 Week 5 Final Exam (05 Sets) Purchase here http://chosecourses.com/acc-291-week-5-final-exam-05-sets Product Description ACC 291 Sample Final Exams ACC 291 Final Exam 1 = 30 Questions and......

Words: 292 - Pages: 2

Acc 291 Week 5 Final Exam 5

...ACC 291 Week 5 Final Exam 5 Purchase here http://chosecourses.com/acc-291-week-5-final-exam-5 Description ACC 291 Final Exam 1) Intangible assets are the rights and privileges that result from ownership of long-lived assets that 2) Gains on an exchange of plant assets that has commercial substance are 3) 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? 4) When an interest-bearing note matures, the balance in the Notes Payable account is 5) Costs incurred to increase the operating efficiency or useful life of a plant asset are referred to as 6) 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? 7) When the effective-interest method of bond discount amortization is used 8) Capital stock to which the charter has assigned a value per share is called 9) 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......

Words: 4885 - Pages: 20