ACCT 220 Principles of Accounting I Week 5 Homework Problems Answers – Homeworkmade

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ACCT 220 ACCT/220 ACCT220 Week 5 Homework Problems

There are 4 problems this week.  Click on the tabs at the bottom of the spreadsheet to view each problem.

ACCT 220 Principles of Accounting I Week 6 Homework Chapter 12 and 13 Answers – Homeworkmade

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ACCT 220 ACCT/220 ACCT220 Week 6 Homework Chapter 12 and 13

1.         What is the par value of a share of capital stock?
2.         What are the advantages of the corporate form of organization?

3.         What is an arbitrary amount assigned by the board of directors to each share of a given class of no-par stock?
4.         What does the purchase of treasury stock do to stockholders’ equity?
5.         What is a stock split?
6.         What is treasury stock?
7.         When does a discontinued operation occur?
8.         What are extraordinary items?
9.         How is earnings per share (EPS) computed?
10.         A corporation has outstanding 5,000 shares of $175 par value common stock.  Prepare the journal entry to record the declaration of a cash dividend of $1.60 per share.

ACCT 220 Principles of Accounting I Week 7 Homework Answers – Homeworkmade

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ACCT 220 ACCT/220 ACCT220 Week 7 Homework

Review the unadjusted trial balance below and prepare adjusting journal entries to record the various described items

below.  Record in the space provided at the bottom of this spreadsheet.  After completing journal entries, complete the

adjusted trial balance below.  Lastly complete the income statement, balance sheet and statement of retained earnings.

The balance sheet must balance.  The accounting equation is Assets = Liabilities + Equity.

ACCT 221 Principles of Accounting II Week 1 Homework Problems Answers – Homeworkmade

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ACCT 221 Week 1 Homework Problems

B-14.01

B-14.03

B-14.04

B-14.06

B-14.08

ACCT 221 Principles of Accounting II Week 2 Homework Problems Answers – Homeworkmade

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ACCT 221 Week 2 Homework Problems

B-13.01

B-13.06

B-13.08

B-13.07

B-09.01

B-09.04

ACCT 311 Intermediate Accounting II Final Exam Answers – Homeworkmade

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ACCT 311 Final Exam

                  1.  Callable bonds

                  2.  The net amount of a bond liability that appears on the balance sheet is the

                  3.  Which of the following shareholder rights is most commonly enhanced in an issue of preferred stock?

                  4.  Which of the following statements characterizes an operating lease?

                  5.  One of the four general criteria for a capital lease is that the present value at the beginning Of the lease term of the minimum lease payments equals or exceeds

                  6.  One of the four general criteria for a capital lease specifies that the lease term be equal to or greater than

                  7. On December 1, 2011, Arm Inc. signed an operating lease for a warehouse for ten

                      years at $24,000 per year. Upon execution of the lease, Arm paid $48,000 covering rent

                      for the first two years. How much should be shown in Arm’s income statement for the

                           year ended December 31, 2011, as rent expense?

8.  Fingers uses the percentage-of-completion method as the basis for income recognition. For the years ended December 31, 2014, and 2015, respectively, Fingers should report 

9.  The balance in the Construction in Progress account at the end of 2014

10.  Hands Corporation owns 40,000 of the 100,000 outstanding shares of Arms Inc. common stock. During 2015, Arms earns $640,000 and pays cash dividends of  

     $480,000.  If the beginning balance in Hands’ investment account was $430,000, 

     the balance at December 31, 2015 should be

11.  On June 30, 2014, Able Co. had outstanding 8%, $6,000,000 face amount, 15-year

bonds maturing on June 30, 2024. Interest is payable on June 30 and December 31. The

unamortized balances in the bond discount and deferred bond issue costs accounts on

June 30, 2014 were $210,000 and $60,000, respectively. On June 30, 2014, Able acquired

all of these bonds at 94 and retired them. What net carrying amount should be used in computing

gain or loss on this early extinguishment of debt?

                  12. The main purpose of reporting diluted earnings per share is to

13. When an investor uses the equity method to account for investments in common stock, cash 

          dividends received by the investor form the investee should be recorded as

14. The following information relates to the capital structure of Ravens Nation Corp.:

            15. The following information is available for Feet Corporation:

16. The UMUC Corporation reported a $66,000 operating loss in 2011. In the preceding

                      three years, Taylor reported the following income before taxes and paid the indicated

                      income taxes:

17.  Which of the following is a noncash transaction that should be disclosed in a schedule

                            accompanying the statement of cash flows?

18.  The amortization of a bond premium can correctly be presented in the statement of

                            cash flows in which of the following ways?

                  19. A contingent liability should be recorded when

20. On January 1, 2011, Bowie Corporation leased a warehouse to Tim under an operating

                      lease for ten years at $80,000 per year, payable the first day of each lease year. Bowie

                      Corporation paid $36,000 to a real estate broker as a finder’s fee. The warehouse is

                      depreciated at $20,000 per year. During 2011, Bowie incurred insurance and property

                           tax expense totaling $15,000. Bowie’s net rental income for 2011 should be?

ACCT 321 Cost Accounting Quiz 1 Part B Answers – Homeworkmade

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ACCT 321 Quiz 1 Part B

1) (16 points) At the Todd Company, the cost of the personnel department has always been charged to production departments based upon number of employees. Recently, opinions gathered from the department managers indicate that the number of new hires might be a better predictor of personnel costs.

2) (12 points) Franscioso Company sells several products. Information of average revenue and costs is as follows:

3) (12 points) The East Company manufactures several different products. Unit costs associated with Product ORD203 are as follows: