ACC 291 Final Exam Guide (New)
For more course tutorials visit
www.uophelp.com
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
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
...................................................................................
ACC 291 Week 1 Wileyplus Assignment E8-4, E8-11, BYP8-1, and BYP8-2 (New)
For more course tutorials visit
www.uophelp.com
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...