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ACC 291 Entire Course and Final Guide
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ACC 291 Final Exam Guide (New)
Question 1 An aging of a company's accounts receivable indicates
that $4,500 are estimated to be uncollectible. If Allowance for
Doubtful Accounts has a $1,200 credit balance, the adjustment to
record bad debts for the period will require a
Question 2 The financial statements of the Melton Manufacturing
Company reports net sales of $300,000 and accounts receivable of
$50,000 and $30,000 at the beginning of the year and end of year,
respectively. What is the average collection period for accounts
receivable in days?
Question 3 Stine Company purchased machinery with a list price of
$64,000. They were given a 10% discount by the manufacturer. They
paid $400 for shipping and sales tax of $3,000. Stine estimates that
the machinery will have a useful life of 10 years and a residual value

of $20,000. If Stine uses straight-line depreciation, annual
depreciation will be
Question 4 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?
Question 5 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 ly describes component depreciation?
Question 6 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
Question 7 Bonds with a face value of $300,000 and a quoted price
of 97¼ have a selling price of
Question 8 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?

Question 9 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 of its common stock (par $1). The stock trades on a daily basis
and the market price of the stock on the day the debt was settled is
$1.80 per share. Given this information, the best journal entry for E.
Corp. to record for this transaction is
Question 10 Logan Corporation issues 50,000 shares of $50 par value
preferred stock for cash at $60 per share. The entry to record the
transaction will consist of a debit to Cash for $3,000,000 and a credit
or credits to
Question 11 Jahnke Corporation issued 8,000 shares of €2 par value
ordinary shares for €11 per share. The journal entry to record the sale
will include
Question 12 Zoum Corporation had the following transactions during
2014:
1. Issued $125,000 of par value common stock for cash.
2. Recorded and paid wages expense of $60,000.
3. Acquired land by issuing common stock of par value $50,000.
4. Declared and paid a cash dividend of $10,000.
Question 13 Colie Company had an increase in inventory of
$120,000. The cost of goods sold was $490,000. There was a $30,000
decrease in accounts payable from the prior period. Using the direct
method of reporting cash flows from operating activities, what were
Colie's cash payments to suppliers?
Question 14 Each of the following items may be classified as
operating or financing activities under IFRS except

Question 15 The current assets of Orangatte Company are $227,500.
The current liabilities are $130,000. The current ratio expressed as a
proportion is
Question 16 All of the following requirements about internal controls
were enacted under the Sarbanes Oxley Act of 2002 except:
Question 17 Which of the following is not an internal control activity
for cash?
Question 18 Before a check authorization is issued, the following
documents must be in agreement, except for the
Question 19 Mitchell Corporation bought equipment on January 1,
2014 .The equipment cost $180,000 and had an expected salvage
value of $30,000. The life of the equipment was estimated to be 6
years. The book value of the equipment at the beginning of the third
year would be
Question 20Brevard Corporation purchased a taxicab on January 1,
2013 for $25,500 to use for its shuttle business. The cab is expected
to have a five-year useful life and no salvage value. During 2014, it
retouched the cab's paint at a cost of $1,200, replaced the
transmission for $3,000 (which extended its life by an additional 2
years), and tuned-up the motor for $150. If Brevard Corporation uses
straight-line depreciation, what annual depreciation will Brevard
report for 2014?
Question 21 On July 1, 2014, Fleming Company sells machinery for
$120,000. The machinery originally cost $300,000, had an estimated
5-year life and an expected salvage value of $50,000. The
Accumulated Depreciation account had a balance of $175,000 on
January 1, 2014, using the straight-line method. The gain or loss on
disposal is

Question 22 On July 1, 2014, Linden Company purchased the
copyright to Norman Computer Tutorials for $140,000. It is estimated
that the copyright will have a useful life of 5 years. The amount of
Amortization Expense recognized for the year 2014 would be
Question 23 The following totals for the month of April were taken
from the payroll records of Metz Company.
Salaries $30,000
FICA taxes withheld 2,295
Income taxes withheld 6,600
Medical insurance deductions 1,200
Federal unemployment taxes 240
State unemployment taxes 1,500
Question 24 Thayer Company purchased a building on January 2 by
signing a long-term $2,520,000 mortgage with monthly payments of
$23,100. The mortgage carries an interest rate of 10 percent. The
amount owed on the mortgage after the first payment will be
Question 25
The following data is available for BOX Corporation at December 31,
2014:
Common stock, par $10 (authorized 30,000 shares) $250,000
Treasury stock (at cost $15 per share) $1,200
Based on the data, how many shares of common stock are
outstanding?
Question 26

Indicate the respective effects of the declaration of a cash dividend
on the following balance sheet sections:
Question 27 Assume the following cost of goods sold data for a
company:
2015 $1,300,000
2014 1,200,000
2013 1,000,000
If 2013 is the base year, what is the percentage increase in cost of
goods sold from 2013 to 2015?
Question 28 A company has an average inventory on hand of
$75,000 and its average days in inventory is 36.5 days. What is the
cost of goods sold?
Question 29 The following information is available for Patterson
Company:
2014 2013
Question 30 Your answer has been saved and sent for grading. See
Grade book for score details.
All of the following situations below might indicate a company has a
low quality of earnings except
Question 31 IFRS
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ACC 291 Final Exam Guide

we have another New set of Final Exam Guide which could be found
on this link
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 annual net cash cost of this borrowing if
the income tax rate is 30%?
12) 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?
13) A corporation issued $600,000, 10%, 5-year bonds on January 1,
2011 for 648,666, which reflects an effective-interest rate of 8%.
Interest is paid semiannually on January 1 and July 1. If the
corporation uses the effective-interest method of amortization of bond
premium, the amount of bond interest expense to be recognized on
July 1, 2011, is
14) When the effective-interest method of bond discount amortization
is used
15) If a corporation has only one class of stock, it is referred to as
16) Capital stock to which the charter has assigned a value per share
is called
17) ABC, Inc. has 1,000 shares of 5%, $100 par value, cumulative
preferred stock and 50,000 shares of $1 par value common stock
outstanding at December 31, 2011. What is the annualdividend on
the preferred stock?
18) 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 the amount of dividends received
by the common stockholders in 2011?
19) When the selling price of treasury stock is greater than its cost,
the company credits the difference to
20) The purchase of treasury stock
21) 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
22) Where would the event purchased land for cash appear, if at all,
on the indirect statement of cash flows?
23) In performing a vertical analysis, the base for cost of goods sold
is
A. total selling expenses
24) Blanco, Inc. has the following income statement (in millions):
Using vertical analysis, what percentage is assigned to Net Income?
25) 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?
26) 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
27) Which of the following is a fundamental factor in having an
effective, ethical corporate culture?
28) Two individuals at a retail store work the same cash register. You
evaluate this situation as

29) The Sarbanes-Oxley Act imposed which new penalty for
executives?
30) 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
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ACC 291 Final Exam Guide

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

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
of its common stock (par $1). The stock trades on a daily basis and
the market price of the stock on the day the debt was settled is $1.80
per share. Given this information, the best journal entry for E. Corp.
to record for this transaction is
Logan Corporation issues 50,000 shares of $50 par value preferred
stock for cash at $60 per share. The entry to record the transaction
will consist of a debit to Cash for $3,000,000 and a credit or credits
to
Jahnke Corporation issued 8,000 shares of €2 par value ordinary
shares for €11 per share. The journal entry to record the sale will
include
Zoum Corporation had the following transactions during 2014:
1. Issued $125,000 of par value common stock for cash.
2. Recorded and paid wages expense of $60,000.
3. Acquired land by issuing common stock of par value $50,000.
4. Declared and paid a cash dividend of $10,000.
5. Sold a long-term investment (cost $3,000) for cash of $3,000.
6. Recorded cash sales of $400,000.
7. Bought inventory for cash of $160,000.
8. Acquired an investment in Zynga stock for cash of $21,000.
9. Converted bonds payable to common stock in the amount of
$500,000.
10. Repaid a 6 year note payable in the amount of $220,000.
What is the net cash provided by financing activities?

Colie Company had an increase in inventory of $120,000. The cost of
goods sold was $490,000. There was a $30,000 decrease in accounts
payable from the prior period. Using the direct method of reporting
cash flows from operating activities, what were Colie's cash payments
to suppliers?
Each of the following items may be classified as operating or
financing activities under IFRS except
The current assets of Orangatte Company are $227,500. The current
liabilities are $130,000.The current ratio expressed as a proportion
is
All of the following requirements aboutinternal controls were
enacted under the Sarbanes Oxley Act of 2002 except:
Explanation: Redundant controls are actually a good thing because
they help close potential auditing loopholes.
Which of the following is not an internal control activity for cash?
Before a check authorization is issued, the following documents must
be in agreement, except for the
receiving report.
invoice.
purchase order.
remittance advice.

Mitchell Corporation boughtequipment on January 1, 2014 .The
equipment cost $180,000 and had an expected salvage value of
$30,000. The life of the equipment was estimated to be 6 years. The
book value of the equipment at the beginning of the third year would
be
Explanation: Depreciation would be 25K per year, thus 130K at the
beginning of year 3.
Brevard Corporation purchased a taxicab on January 1, 2013 for
$25,500 to use for its shuttle business. The cab is expected to have a
five-year useful life and no salvage value. During 2014, it retouched
the cab's paint at a cost of $1,200, replaced the transmission for
$3,000 (which extended its life by an additional2 years), and tuned-
up the motor for $150. If Brevard Corporation uses straight-line
depreciation, what annual depreciation will Brevard report for 2014?
On July 1, 2014, Fleming Company sells machinery for $120,000.
The machinery originally cost $300,000, had an estimated 5-year life
and an expected salvage value of $50,000. The Accumulated
Depreciation account had a balance of $175,000 on January 1, 2014,
using the straight-line method. The gain or loss on disposal is
On July 1, 2014, Linden Company purchased the copyright to
Norman Computer Tutorials for $140,000. It is estimated that the
copyright will have a useful life of 5 years. The amount of
Amortization Expense recognized for the year 2014 would be
The following totals for the month of April were taken from the
payroll records of Metz Company.
Salaries $30,000
FICA taxes withheld 2,295
Income taxes withheld 6,600

Medical insurance deductions 1,200
Federal unemployment taxes 240
State unemployment taxes 1,500
The entry to record accrual of employer’s payroll taxes would
include a
Thayer Company purchased a building on January 2 by signing a
long-term $2,520,000 mortgage with monthly payments of $23,100.
The mortgage carries an interest rate of 10 percent. The amount owed
on the mortgage after the first payment will be
The following data is available for BOX Corporation at December 31,
2014:
Common stock, par $10 (authorized 30,000 shares) $250,000
Treasury stock (at cost $15 per share) $1,200
Based on the data, how many shares of common stock are
outstanding?
Indicate the respective effects of the declaration of a cash dividend on
the following balance sheet sections:
Total Assets Total Liabilities Total Stockholders'
Equity
Assume the following cost of goods sold data for a company:
If 2013 is the base year, what is the percentage increase in cost of
goods sold from 2013 to 2015?
A company has an average inventory on hand of $75,000 and its
average days in inventory is 36.5 days. What is the cost of goods
sold?
The following information is available for Patterson Company:

2014 2013
Accounts receivable $ 360,000 $ 340,000
Inventory 280,000 320,000
Net credit sales 3,000,000 2,600,000
Cost of goods sold 1,500,000 840,000
Net income 300,000 170,000
The accounts receivable turnover for 2014 is
All of the following situations below might indicate a company has a
low quality of earnings except
A lack of disclosure about guaranteed payments that were
mentioned in the MD&A of the annual report.
Maintenance costs are capitalized and then depreciated.
Revenue is recognized when earned.
Adoption of a different inventory method for each of the last
three years.
IFRS
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ACC 291 Week 1 Assignment Comparative Analysis
Problem
Purpose of Assignment The purpose of this assignment is to help you
understand the basics of financial statement analysis using financial
ratios on the assets section of the balance sheet, data interpretation,
and how ratios are used to gain insight about the management of
receivable. Assignment Steps Resources: Financial Accounting: Tools

for Business Decision Making Develop an 875-word analysis providing
conclusions concerning the management of accounts receivable
based on the financial statements of Columbia Sportswear Company
presented in Appendix B and the financial statements of VF
Corporation presented in Appendix C, including the following: Based
on the information contained in these financial statement, compute
the following 2014 values for each company: What conclusions
concerning the management of accounts receivable can be drawn
from this data? Accounts receivable turnover (For VF, use “Net sales”
and assume all sales were credit sales) Average collection period for
accounts receivable Use the Week 1 Excel® spreadsheet to show your
work and submit with your analysis. Click the Assignment Files tab to
submit your assignment.
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ACC 291 Week 1 Discussion Question 1
How would you describe the entries to record the disposition of
accounts receivables?
What is their function?
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How are bad debts accounted for under the direct write-off method?
What are the disadvantages of this method?
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ACC 291 Week 1 Wileyplus Assignment E8-4, E8-11,
BYP8-1, and BYP8-2 (New)
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
 ----------------------------------------------
ACC 291 Week 2 - Fordyce and Atwater (New)
P10-5A
Fordyce Electronics issues a $400,000, 8%, 10-year mortgage note
on December 31, 2007. The proceeds from the note are to be used in
financing a new research laboratory. The terms of the note provide
for semiannualinstallment payments, exclusive of real estate taxes and
insurance, of $29,433. Payments are due June 30 and December 31.

Complete the installment payments schedule for the first 2 years.
(Round answers to 0 decimal places, e.g. 125. Use rounded amounts
for future calculations.)
Prepare the entries for (1) the loan and (2) the first two installment
payments. (For multiple debit/credit entries, list amounts from largest
to smallest eg 10, 5, 3,
2.) Show how the total mortgage liability should be reported on the
balance sheet at December 31, 2008.
P10-6A
On July 1, 2011, Atwater Corporation issued $2,098,000 face value,
12%, 10-year bonds at $2,507,354.This price resulted in an effective-
interest rate of 9% on the bonds. Atwater uses the effective-interest
method to amortize bond premium or discount. The bonds pay
semiannual interest July 1 and January 1.
Prepare an amortization table through December 31, 2012 (3 interest
periods) for this bond issue.
Prepare the journal entry to record the accrual of interest and the
amortization of the premium on December 31, 2011
Prepare the journal entry to record the payment of interest and the
amortization of the premium on July 1, 2012, assuming no accrual of
interest on June 30
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ACC 291 Week 2 Assignment Financial Reporting Problem,
Apple Inc
understand the basics of financial statement analysis related to the
assets section of the balance sheet, data interpretation, and how
financial information is obtained to understand how a company
accounts for its long-lived assets. Assignment Steps Resources:

Financial Accounting: Tools for Business Decision Making Note: The
financial statements of Apple, Inc. are presented in Appendix A of
Financial Accounting. Instructions for accessing and using the
company's complete annual report, including the notes to the
financial statements, are also provided in Appendix A. Complete a
1,050-word summary of findings and recommendations from the
following questions: • What were the total cost and book value of
property, plant, and equipment at September 27, 2014? • Using the
notes to find financial statements, what method or methods of
depreciation are used by Apple for financial reporting purposes? •
What was the amount of depreciation and amortization expense for
each of the three years 2012-2014? (Hint: Use the statement of cash
flows). • Using the statement of cash flows, what are the amounts of
property, plant, and equipment purchased in 2014 and 2013? • Using
the notes to the financial statements, explain in the summary how
Apple accounted for its intangible assets in 2014. Use the Week 2
Excel® spreadsheet to show your work and submit with your
summary. Click the Assignment Files tab to submit your assignment.
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What are the differences among valuation, depreciation,
amortization, and depletion?
Is it appropriate to calculate depreciation using two different
methods? Why?
What does the Annual Report you are using for class say about
depreciation?

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What types of industries have unearned revenue?
Why is unearned revenue considered a liability?
When is the unearned revenue recognized in the financial statements?
What does your Annual Report say about unearned revenue?
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ACC 291 Week 2 Individual WileyPLUS Assignment Week
Two
we have another New set of week 2 Willeyplus assignment which
could be found on this link
Resource:WileyPLUS
Complete the followingWileyPLUS Week Two Exercises and
Problem:
 Exercise E8-3
 Exercise BE9-13
 Exercise Do It! 9-4
 Exercise E9-9
 Exercise E9-10

 Problem P9-5A
Submit your results through the Gradebook ASSIGNMENTS. Screen
prints or shots are acceptable on a WORD document.
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ACC 291 Week 2 IndividualWileyPLUS PracticeCh 8,9,10
Quiz
Resource:WileyPLUS
Complete the WileyPLUS Week Two Practice Quizzes for chapters 8,
9, and 10. Submit your results through the Gradebook
ASSIGNMENTS. Screen prints or shots are acceptable on a WORD
document.
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ACC 291 Week 2 Learning Team Weekly Reflection
Discuss the objectives for Weeks One and Two. Your discussion
should include the topics you feel comfortable with, any topics you
struggled with, and how the weekly topics relate to application in
your field.
Write a 350- to 1,050-word summary of the team’s discussion.

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ACC 291 Week 2 Wileyplus Assignment P8-3A, BE9-11,
DI9-5, E9-7, E9-8, BYP9, P9-2A (New)
·P8-3A, BE9-11, DI9-5, E9-7, E9-8, BYP9, P9-2A.
 Problem 8-3A: Bosworth Company
 Brief Exercise 9-11: Nike, Inc.
 Do It! 9-5
 Exercise 9-7: Wang, Co.
 Exercise 9-8: Cleand Company
 Broadening Your Perspective 9-1: Tootsie Roll
 Broadening Your Perspective 9-2: Tootsie& Hershey
 Problem 9-2A: Navaro Corporation
 ----------------------------------------------
ACC 291 Week 3 Assignment The Liabilities Section of
O’Brian’s Balance Sheet
understand the balance sheet presentation for the liabilities of a
company. Assignment Steps Resources: Financial Accounting: Tools
for Business Decision Making Prepare the liabilities section of
O’Brian’s balance sheet using the following information: • Accounts
payable $157,000 • Notes payable (due May 1, 2018) $20,000 •

Bonds payable (due 2021) $900,000 • Unearned rent revenue
$240,000 • Discount on bonds payable $41,000 • FICA taxes payable
$7,800 • Interest payable (due 2019) $80,000 • Income taxes payable
$3,500 • Sales taxes payable $1,700 The Liabilities Section of
O’Brian’s balance sheet must be 525 words. Show work on the Week
3 Excel® spreadsheet. Note: This assignment requires that you only
submit an Excel® Workbook file. There are no written or APA
guideline requirements. Click the Assignment Files tab to submit your
assignment.
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Why does a company choose to form as a corporation?
What are the steps required to become a corporation?
What are the advantages and disadvantages of the corporate form of
doing business?
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Why is preferred stock referred to as preferred?
What are some of the features added to preferred stock that make it

more attractive to investors?
Would you select preferred stock or common stock as an investment?
Why?
Provide stock details from your Annual Report.
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ACC 291 Week 3 Individual WileyPLUS Assignment
Resource:WileyPLUS
Complete the followingWileyPLUS Week Three Exercises and
Problems:
 Exercise E9-7
 Exercise E10-5
 Exercise E10-10
 Exercise E10-11
 Exercise E10-15
 Exercise E10-18
 Problem P10-5A
Problem P10-9A
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ACC 291 Week 3 Individual WileyPLUS Practice Quiz Ch.
11,12

Resource:WileyPLUS
Complete the WileyPLUS Week Three Practice Quizzes for chapters
11 and 12.
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Discuss the objectives for Week Three. Your discussion should include
the topics you feel comfortable with, any topics you struggled with,
and how the weekly topics relate to application in your field.
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ACC 291 Week 3 Wileyplus Assignment P9-7A, E10-5, E10-
8, E10-13, E10-22, E10-24, BYP10, P10-9A, P10-13A,
IFRS10-4 (New)

·P9-7A, E10-5, E10-8, E10-13, E10-22, E10-24, BYP10, P10-9A, P10-
13A, IFRS10-4.
 Exercise 10-5: Olinger Company
 Exercise 10-8: Ortega Company
 Exercise 10-13: Romine Company
 Exercise 10-22: Cole Corporation
 Exercise 10-24: Nance, Co.
 Broadening Your Perspective 10-1: Tootsie Roll
 Broadening Your Perspective 10-2: Tootsie& Hershey
 Problem 9-7A: Farr Company
 Problem 10-9A: Wempe, Co.
 Problem 10-13A: Grace Herron
 IFRS10-4: Ratzlaff
 ----------------------------------------------
Why are companies required to prepare a statement of cash flows?
Why is the statement of cash flows divided into three sections?
What does each section tell you about the operations of a company?
What are the differences between the direct and indirect presentation
of cash flows?
Why does the Financial Accounting Standards Board allow both
methods? Which do you prefer? Why?
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What are some common ratios used to analyze financial information?
Which are the most important?
What are some examples of how ratios are used in the decision
making process?
Two popular methods of financial statement analysis are horizontal
analysis and vertical analysis. What are the differences between
these two methods?
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ACC 291 Week 4 Individual WileyPLUS Assignment
Resource:WileyPLUS
Complete the following WileyPLUS Week Four Exercises and
Problems:
 Exercise Do It! 11-1
 Exercise E11-15
 Exercise E11-16
 Problem P11-6A
Problem P11-8A

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ACC 291 Week 4 IndividualWileyPLUS Practice
Resource:WileyPLUS
Complete the WileyPLUS Week Four Practice Quizzes for chapters 13
and 14.
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Discuss the objectives for Week Four. Your discussion should include
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ACC 291 WEEK 4 Stockholders’ Equity Section of the
Balance Sheet (Lachlin Corporation Balance Sheet)

become familiar with examining the stockholders' equity section of
the balance sheet. Assignment Steps Resources: Financial Accounting:
Tools for Business Decision Making Answer the following questions in
1,050 words using the Lachlin Corporation Balance Sheet (partial)
below: • How many shares of common stock are outstanding? •
Assuming there is a stated value, what is the stated value of the
common stock? • What is the par value of the preferred stock? • If
the annual dividend on preferred stock is $36,000, what is the
dividend rate on preferred stock? • If dividends of $72,000 were in
arrears on preferred stock, what would be the balance reported for
retained earnings?
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ACC 291 Week 4 Wileyplus Assignment Do It! 11-1, E11-5,
E11-7, BYP11-1, BYP11-2, P11-5A, P11-8A (New)
·Do It! 11-1, E11-5, E11-7, BYP11-1, BYP11-2, P11-5A, P11-8A.
 Do It! 11-1
 Exercise 11-5 Garcia Corporation
 Exercise 11-7 Pele Company
 Broadening Your Perspective 11-1 Tootsie Roll
 Broadening Your Perspective 11-2 Tootsie Roll & Hershey
 Problem 11-5A Pringle Corporation
 Problem 11-8A Everett Corporation

 ----------------------------------------------
Why do corporations buy back their own stock?
What does it tell you about the corporation?
What effect does the purchase have on the price of a company’s
stock?
Does your Annual Report discuss stock repurchase or balances of
treasury stock?
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ACC 291 Week 5 Individual Effect of Unethical Behavior
Article Analysis
Write a 350- to 700-word article analysis in which you identify
situations that might lead to unethical practices and behavior in
accounting.
Examine the effect of the Sarbanes-Oxley Act of 2002 on financial
statements.

Cite one article from the Electronic Reserve Readings, the Internet, or
other resources.
Formatyour paper consistent with APA guidelines.
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ACC 291 Week 5 Individual WileyPLUSAssignment
we have another New set of week 5 Willyplus assignment which
ACC 291 Week 5 Wileyplus Assignment E7-3, E12-1, E12-8, P12-
9A, P12-10A, E13-3, E13-4, IFRS13-1, P13-2A (New)
Resource:WileyPLUS
Complete the following Week Five WileyPLUSExercises and
Problems:
 Exercise E13-1
 Exercise E13-8
 Exercise E14-1
 Problem P13-9A
 Problem P13-10A
Problem P14-2A
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ACC 291 Week 5 Learning Team Ratio Analysis Memo

Resource:Virtual Organizations
Click the Virtual Organization link on the student website to access
the Virtual Organizations.
Select one of the Virtual Organizations as the basis for the
assignment.
Obtain faculty approval of your selected organization before
beginning the assignment.
Access the information contained in your selected organization’s
balance sheet and income statement to calculate the following:
 Liquidity ratios
o Current ratio
o Acid-test,or quick, ratio
o Receivables turnover
o Inventory turnover
 Profitability ratios
o Asset turnover
o Profit margin

o Return on assets
o Return on common stockholders’ equity
 Solvency ratios
o Debt to total assets
o Times interest earned
Showyour calculations for each ratio.
Create a horizontal and vertical analysis for the balance sheet and
the income statement.
Write a 350- to 700-word memo to the CEO of your selected
organization in which you discuss your findings from your ratio
calculations and your horizontal and vertical analysis. In your memo,
address the following questions:
 What do the liquidity, profitability, and solvency ratios reveal
about the company’s financial position?
 Which users may be interested in each type of ratio?
What does the collected data reveal about the company’s
performance and position?
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Discuss the objectives for Week Five. Your discussion should include

Acc 291 genius

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