ACC 421 Final Exam Guide
$10.00

ACC 421 Final Exam Guide

This Tutorial was purchased 6 times & rated A by student like you.

 

This Tutorial contains following Attachments

  • ACC 421 Final Exam Guide.docx

Question 1

Transactions for Mehta Company for the month of May are presented below.

May 1 B.D. Mehta invests $3,054 cash in exchange for common stock of Mehta Company, a small welding corporation.

3 Buys equipment on account for $1,547.

Question 2

On July 1, 2012, Crowe Co. pays $19,796 to Zubin Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. For Crowe Co.

Question 3

Dresser Company's weekly payroll, paid on Fridays, totals $12,000. Employees work a 5-day week. Prepare Dresser's adjusting entry on Wednesday, December 31, and the

Question 4

Side Kicks has year-end account balances of Sales $876,990; Interest Revenue $17,650; Cost of Goods Sold $577,500; Operating Expenses $200,240; Income Tax Expense

Question 5

Financial information exhibits the characteristic of consistency when:

Question 6

What is the relationship between the Securities and Exchange Commission and accounting standard setting in the United States?

Question 7

Starr Co. had sales revenue of $609,500 in 2012. Other items recorded during the year were:

 Cost of goods sold $326,100 Wage expense 125,100  Income tax expense 28,000

Question 8

Portman Corporation has retained earnings of $688,540 at January 1, 2012. Net income during 2012 was $1,749,750, and cash dividends declared and paid during 2012 totaled

Question 9

On January 1, 2012, Richards Inc. had cash and common stock of $63,640. At that date the company had no other asset, liability or equity balances. On January 2, 2012, it purchased for cash $24,740 of equity securities that it classified as available-for-sale. It received cash dividends of $3,300 net of tax during the year on these securities. In

Question 10

Armstrong Corporation reported the following for 2012: net sales $1,249,000; cost of goods sold $757,900; selling and administrative expenses $325,400; and an unrealized

Question 11

Guillen, Inc. began work on a $7,017,700 contract in 2012 to construct an office building. Guillen uses the completed-contract method. At December 31, 2012, the

Question 12

Lazaro, Inc. sells goods on the installment basis and uses the installment-sales method. Due to a customer default, Lazaro repossessed merchandise that was originally sold for

Question 13

Harding Corporation has the following accounts included in its December 31, 2012, trial balance: Accounts Receivable $110,240; Inventories $296,950; Allowance for Doubtful

Question 14

Patrick Corporation's adjusted trial balance contained the following asset accounts at December 31, 2012: Prepaid Rent $16,220; Goodwill $59,100; Franchise Fees Receivable

Question 15

Hawthorn Corporation's adjusted trial balance contained the following accounts at December 31, 2012: Retained Earnings $126,760; Common Stock $700,260; Bonds

Question 16

Keyser Beverage Company reported the following items in the most recent year.

Net income $45,190 Dividends paid 5,770 Increase in accounts receivable 10,140

Question 17

Linden Corporation is preparing its December 31, 2012, financial statements. Two events thatoccurred between December 31, 2012, and March 10, 2013, when the

Question 18

Roder Corporation has seven industry segments with total revenues as follows.

Penley $1,827 Cheng $609 Konami 2,088 Takuhi 522 KSC 696 Molina 2,175 Red Moon

Question 19

Operating profits and losses for the seven industry segments of Roder Corporation are:

Penley $234 Cheng $(54)

Question 20

Which of the following events will appear in the cash flows from financing activities section of the statement of cash flows?

Question 21

Heartland Company's budgeted sales and budgeted cost of goods sold for the coming year are $146,550,000 and $35,397,000 respectively. Short-term interest rates are expected to average 10%.

Question 22

The financial statement which summarizes operating, investing, and financing activities of an entity for a period of time is the:

Question 23

Ames Company reported 2012 net income of $159,290. During 2012, accounts receivable increased by $15,630 and accounts payable increased by $9,930.

Question 24

Martinez Corporation engaged in the following cash transactions during 2012.

 Sale of land and building $191,970

 Purchase of treasury stock 45,020

Question 25

Martinez Corporation engaged in the following cash transactions during 2012.

 Sale of land and building $184,990

 Purchase of treasury stock 42,320

 Purchase of land 46,050

Question 26

A comparative balance sheet for Orozco Corporation is presented below.

Question 27

Chris Spear invested $11,999 today in a fund that earns 12% compounded annually. To what amount will the investment grow in 3 years? To what amount would the

Question 28

Amy Monroe wants to create a fund today that will enable her to withdraw $30,910 per year for 8 years, with the first withdrawal to take place 4 years from today. If the fund

Question 29

Zach Taylor is settling a $26,000 loan due today by making 6 equal annual payments of $6025.15.

Question 30

Lyle O 'Keefe invests $30,000 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Lyle withdrew the

Write a review

Order Id


Order Id will be kept Confidential
Your Name:


Your Review:
Rating:   A   B   C   D   F  

Enter the code in the box below:



Related Tutorials
$10.00

This Tutorial was purchased 6 times & rated A by student like you.

Question 1 Transactions for Mehta Company for the month of May are presented below. May 1 B.D. Mehta invests $3,054 cash in exchange for common stock of Mehta Company, a small welding corporation. 3 Buys equipment on account for $1,547. Question 2 On July 1, 2012, Crowe Co. pa..
$20.00

This Tutorial was purchased 2 times & rated A+ by student like you.

Scroll Down to See Details of the Questions        Transactions for Mehta Company for the month of May are presented below. Prepare journal entries for each of these transactions.      On July 1, 2014, Crowe Co. pays $15,000 to Z..
$9.00

This Tutorial was purchased 7 times & rated A+ by student like you.

Resources: Analyzing Amazon document. Write a 700- to 1,050-word paper. The incredible growth of Amazon.com has put fear into the hearts of traditional retailers. Amazon’s stock price has soared to amazing levels. However, it is often pointed out in the financial press that it t..
$7.00

This Tutorial was purchased 6 times & rated A by student like you.

Complete the following individually and discuss your individual answers as a team: • CA 4-2, p. 190 • Problem 18-3, p. 1043 • Problem 18-2, p. 1047 After discussing your answers, compile each into a team response. Click the Assignment Files tab to submit your assignment. &..
$5.00

This Tutorial was purchased 5 times & rated A by student like you.

Complete the following deliverables as a team: The Coca-Cola/PepsiCo Comparative Analysis Case on p. 192. Your responses should be approximately one to two sentences for each segment (a-c). (a) What type of income format(s) is used by these two companies? Identify any differenc..
$15.00

This Tutorial was purchased 7 times & rated A by student like you.

This Tutorial contains Excel File which can be used to solve for any values   Exercise 5-1: Pronghom corporation has the following accounts included in its December 31, 2017, trial balance: Accounts receivable $110,600, Inventory $293,500, Allowance for Doubtful Accounts $9,450, ..
$5.00

This Tutorial was purchased 4 times & rated A+ by student like you.

Problem 24-3 (Essay) Bradbum Corporation was Formed 5 years age through a public subscription of common stock. Daniel Brown, who owns 15% of the common stock, was one of the organizers of Bradburn and is its current president. The company has been successful, but it currently is experiencing ..
$3.00

This Tutorial was purchased 5 times & rated A by student like you.

This Tutorial contains Excel File which can be used to solve for any values     Brief Exercise 24-8 Answer each of the questions in the following unrelated situations a)      The current ratio of a company is 5:1 and its acid-test ratio is 1:..
$3.00

This Tutorial was purchased 5 times & rated A by student like you.

This Tutorial contains Excel File which can be used to solve for any values   Brief Exercise 24-1 (Essay) An annual report of Crestwood Industries states, “The company subsidiaries have long-term leases expiring on various dates after December 31,2017. Amounts payables under such..
$3.00

This Tutorial was purchased 4 times & rated A+ by student like you.

This Tutorial contains Excel File which can be used to solve for any values     Problem 5-2 Presented below are a number of balance sheet items for waterway, Inc., for the current year, 2017. ..
$3.00

This Tutorial was purchased 4 times & rated A+ by student like you.

This Tutorial contains Excel File which can be used to solve for any values   Exercise 5-9 (Part Level Submission) The current assests and current liabilities sections of the balance sheet of Cheyenne company appear as follows. a)      calculate follo..
$3.00

This Tutorial was purchased 4 times & rated A by student like you.

Exercise 5-3: For Fielder Enterprises, indicate how each of the following usually should be classified. If an item should appear in a note to the financial statements, select “note to Financial Statement” to indicate this fact. If an item need to be reported on the balance sheet, select “Bala..
$3.00

This Tutorial was purchased 3 times & rated A+ by student like you.

This Tutorial contains Excel File which can be used to solve for any values   Exercise 5-1: Pronghom corporation has the following accounts included in its December 31, 2017, trial balance: Accounts receivable $110,600, Inventory $293,500, Allowance for Doubtful Accounts $9,450, ..
$7.00

This Tutorial was purchased 12 times & rated A by student like you.

Complete, as a team, the Coca-Cola/PepsiCo Comparative Analysis Cases on p. 72 and 145. Your responses should be approximately one to two sentences for each segment (a-d, a-c). Compile all team member’s input. Click the Assignment Files tab to submit your assignment. (a) Wha..
$12.00

This Tutorial was purchased 6 times & rated A by student like you.

This Tutorial contains Excel File which can be used to solve for any values   Complete the following assignments in WileyPLUS: Brief Exercise 4-2 Brief Exercise 4-3 Brief Exercise 4-10 Exercise 18-3 Exercise 18-7 (Part Level Submission) &nbs..
$5.00

This Tutorial was purchased 1 times & rated No rating by student like you.

1.      What are different criteria for recognizing revenue? 2.      What are the different revenue recognition methods? Why are there so many revenue recognition methods? 3.      Why are the methods subjective, an..
$9.00

This Tutorial was purchased 5 times & rated A+ by student like you.

This Tutorial contains 2 Presentation   Create a 7- to 12-slide presentation. Describe the new Revenue Recognition standards. Project the impact of these new standards on financial reporting. Click the Assignment Files tab to submit your assignment. ..
$8.00

This Tutorial was purchased 5 times & rated B+ by student like you.

Write a 1,050- to 1,400-word paper that addresses the following scenario and questions: Your aunt recently received the annual report for a company in which she has invested. The report notes that the statements have been prepared in accordance with “generally accepted accounting principles.”..
$12.00

This Tutorial was purchased 5 times & rated A+ by student like you.

This Tutorial contains Excel File which can be used to solve for any values     Complete the following assignments in WileyPLUS: • Brief Exercise 5-12 • Exercise 5-13 • Exercise 5-14 • Brief Exercise 23-1 • Exercises 23-13 • Exercise 23-14   ..
$30.00

This Tutorial was purchased 9 times & rated A+ by student like you.

Number of Questions 30 Score atleast 90% easily with our EXCEL SHEET for any values (EVEN IF VALUES CHANGES) of below mentioned Question   Exercise 129     Prepare the necessary adjusting journal entries indicated by each item for the year ended December 31, 2017. ..
acc421 © 2017 All Rights Reserved.Powered by:Webzindagi