Acct 304 - Study guides, Class notes & Summaries

Exam (elaborations) Liberty University ACCT 370 Exam 2 Complete solution Liberty University ACCT 370 Exam 2 Complete solution 100% satisfied: solutions 1. The Common Stock account is reported on the balance sheet at the: 2. The time that the performance obligation is satisfied for revenue recognition is usually: 3. When reporting a change in an accounting principle, the general rule requires that the current year’s income from continuing operations reflect: 4. Using the same account...

Exam (elaborations) Liberty University ACCT 370 Exam 4 Complete solution Liberty University ACCT 370 Exam 4 Complete solution 100% satisfied: solutions 1. Condensed financial data are presented below for the Phoenix Corporation: 2. 3. 2019 4. 5. 2018 6. Accounts receivabl e 8. 267,500 9. 10.11.$ 12.230,00 0 13. 14.Inventory 15. 16.312,500 17. 18.19. 20.257,50 0 21. 22.Total current assets 23. 24.670,000 25. 26.27. 28.565,00 0 29. 30.Intangibl e assets 31. 32.50,000 3...

Liberty University ACCT 370 Exam 4 Complete solution Liberty University ACCT 370 Exam 4 Complete solution 100% satisfied: solutions 1. Condensed financial data are presented below for the Phoenix Corporation: 2. 3. 2019 4. 5. 2018 6. Accounts receivabl e 8. 267,500 9. 10.11.$ 12.230,00 0 13. 14.Inventory 15. 16.312,500 17. 18.19. 20.257,50 0 21. 22.Total current assets 23. 24.670,000 25. 26.27. 28.565,00 0 29. 30.Intangibl e assets 31. 32.50,000 33. 34.35. 36.60,0003...

Liberty University ACCT 370 Exam 2 Complete solution Liberty University ACCT 370 Exam 2 Complete solution 100% satisfied: solutions 1. The Common Stock account is reported on the balance sheet at the: 2. The time that the performance obligation is satisfied for revenue recognition is usually: 3. When reporting a change in an accounting principle, the general rule requires that the current year’s income from continuing operations reflect: 4. Using the same accounting methods to recor...

ACCT 304 WEEK 8 FINAL EXAM, RATED A, COMPLETE SOLUTIONS (all correct) Verified by expert tutors. 1. (TCO 1) The FASB's standard-setting process includes, in the correct order, (Points : 6) exposure draft, research, discussion paper, and accounting standards update. research, exposure draft, discussion paper, and accounting standards update. research, discussion paper, exposure draft, and accounting standards update. discussion paper, research, exposure draft, and accounting standards...

ACCT 304 Midterm Exam Question 1. Question : Property, plant, and equipment and intangible assets are Question 2. Question : (TCO 3) Our company exchanged land and cash of $5,000 for similar land. The book value and the fair value of the land were $90,000 and $100,000, respectively. Assuming the exchange lacks commercial substance, which amount is correct? Question 3. Question : (TCO 2) The exclusive right to benefit from a creative work, such as a film, is a Question 4...

Week 8 Exam 1. Question : (TCO 1) The acquisition costs of property, plant, and equipment do not include Question 2. Question : (TCO 3) Our company exchanged land and cash of $5,000 for similar land. The book value and the fair value of the land were $90,000 and $100,000, respectively. Question 3. Question : (TCO 2) The exclusive right to display a symbol of product identification is a Question 4. Question : (TCO 4) The overriding principle for all depreciation methods is...

ACCT 304 Final Exam Sunday, February 10:05 AM Page: 1 2 3 Question 1. Question : (TCO 1) The FASB's standard-setting process includes, in the correct order, Question 2. Question : (TCO 1) When a registrant company submits its annual filing to the SEC, it uses Question 3. Question : (TCO 2) SFAC No. 5 focuses on Question 4. Question : (TCO 2) Net income equals Question 5. Question : (TCO 3) A sale on account would be recorded by debiting revenue. crediting assets. crediting liabilities. debiting...

WEEK 2 QUIZ 1 1. (TCO 4) Cash equivalents would not include (Points : 5) 2. (TCO 4) Rent collected in advance is (Points : 5) 1. (TCO 4) An asset that is not expected to be converted to cash or to be consumed within one year of the operating cycle is (Points : 5) 1. (TCO 4) Current assets include cash and all other assets expected to become cash or to be consumed (Points : 5) Question 2.2. (TCO 4) Which is a shareholders' equity account in the balance sheet? (Poin...

Week 1 Quiz 1. Question : (TCO 1) The SEC issues accounting standards in the form of Question 2. Question : (TCO 2) Enhancing qualitative characteristics of accounting information includes each of the following, except Question 3. Question : (TCO 3) XYZ Corporation receives $100,000 from investors for issuing them shares of its stock. XYZ's journal entry to record this transaction would include a Question 4. Question : (TCO 3) Cal Farms reported a supplies expense ...