Chapter 2 Lab Intermediate Accounting I (a) The president of Gonzales‚ Inc. used his expense account to purchase a new Suburban solely for personal use. Miscellaneous Expense 29‚000 Cash 29‚000 This in inappropriate based on the economic entity assumption. Economic Entity Assumption states that the economic activity can be identified with a particular unit of accountability. In other words‚ a company
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Intermediate Accounting Project Issue 1(FASB ASC 230-10-50) Some transactions are part cash and noncash; only the cash portion shall be reported in the statement of cash flows. Non-cash activities are reported in the footnotes of the cash flow statement or reported parenthetically MEMO: After researching the proper treatment of this transaction in relation to cash flows‚ I found the following information: • The cash flow statement includes only inflows and outflows of cash and cash equivalents;
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framework– general. Objectives of financial reporting. Qualitative characteristics of accounting. Elements of financial statements. Basic assumptions. Basic principles: a. Measurement. b. Revenue recognition. c. Expense recognition. d. Full disclosure. Accounting principles– comprehensive. Constraints. Assumptions‚ principles‚ and constraints. 28‚ 29‚ 30 10 11 Questions 1‚ 7 2 3‚ 4‚ 5‚ 6‚ 8 9‚ 10‚ 11 12‚ 13‚ 14 15‚ 16‚ 17‚ 18 19‚ 20‚ 21‚ 22‚ 23 24 25‚ 26‚ 27 1‚ 2‚ 3‚ 4 6‚ 11‚ 13 5‚ 7 8‚ 9‚ 12 8 8
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CHAPTER 3 The Accounting Information System ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions 1. Transaction identification. 1‚ 2‚ 3‚ 5‚ 6‚ 7‚ 8 2. Nominal accounts. 4‚ 7 3. Trial balance. 6‚ 10 4. Adjusting entries. 8‚ 11‚ 13‚ 14 5. Financial statements. 6. Closing. 12 7. Inventory and cost of goods sold. 9 8. Comprehensive accounting cycle. *9. Brief Exercises Exercises Problems 1‚ 2 1‚ 2‚ 3‚ 4‚ 17 1 2‚ 3‚ 4 1‚ 2‚ 7‚ 8 5‚ 6‚ 7‚ 8‚ 9‚ 10‚ 20 1‚ 2‚ 3‚ 4
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CHAPTER 14 Long-Term Liabilities ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. Long-term liability; classification; definitions. Issuance of bonds; types of bonds. Premium and discount; amortization schedules. Questions 1‚ 10‚ 14‚ 20‚ 23‚ 24‚ 25 2‚ 3‚ 4‚ 9‚ 10‚ 11 5‚ 6‚ 7‚ 8‚ 11 1‚ 2‚ 3‚ 4‚ 5‚ 6‚ 7 3‚ 4‚ 6‚ 7‚ 8‚ 10 Brief Exercises Exercises 1‚ 2 Problems 10‚ 11 Concepts for Analysis 1‚ 2‚ 3 2. 3‚ 4‚ 5‚ 6‚ 7‚ 8‚ 9‚ 10‚ 11 4‚ 5‚ 6‚ 7‚ 8‚ 9‚ 10‚ 11‚ 13‚ 14‚ 15 12‚ 13‚ 14‚ 15 16‚ 17
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CHAPTER 1 Financial Accounting and Accounting Standards ASSIGNMENT CLASSIFICATION TABLE Topics 1. 2. 3. 4. 5. Subject matter of accounting. Environment of accounting. Role of principles‚ objectives‚ standards‚ and accounting theory. Historical development of GAAP. Authoritative pronouncements and rulemaking bodies. Role of pressure groups. Ethical issues. Questions 1 2‚ 3‚ 29 4‚ 5‚ 6‚ 7 8‚ 9‚ 10‚ 11 12‚ 13‚ 14‚ 15‚ 16‚ 17‚ 18‚ 19‚ 20‚ 21‚ 22‚ 23 23‚ 24‚ 25‚ 26‚ 27‚ 28 30 Cases 4 6‚ 7 1‚ 2‚ 3‚ 5 8
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Kayla Johnson Intermediate Financial Accounting I AC321 A Chapter 1: CE 1-1: Describe the main elements of the link labeled “Help‚ FAQ‚ Learning Guide‚ and About the Codification.” The “Help‚ FAQ‚ Learning Guide‚ and About the Codification” link describes how to navigate the website and answers questions about changing or updating your profile. CE 1-2: Describe the procedures for providing feedback. In the bottom right hand of the home page‚ you can select a link that will lead you to a
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BMAN20671 Intermediate Management Accounting Assessed Coursework for 2012/13 For First Semester Exchange Students Introduction The coursework is due to be submitted to the Undergraduate Services Office in MBSE by 3:00pm on Thursday December 13th 2012. The course work collection point will close at 3pm. Please note that assessed essays may be submitted prior to the due date‚ and you are encouraged to do so where possible. Your assignment is to be submitted as a paper copy and‚ in addition
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Intermediate Accounting II – Professor Iskander Chapter 21 – Statement of Cash Flows Revisited Exercise 21-15 Preparing a Complete Statement of Cash Flows Sunnyvale Corporation prepared the following balance sheet data for 2013 and 2012: Dec. 31‚ 2013 Dec. 31‚ 2012 Cash and cash equivalents . . . . . . . . . . $ 518‚500 $ 675‚000 Accounts receivable . . . . . . . . . . . . . . . . 360‚000 345‚000 Merchandise inventory . . . . . . . . . . . . 750
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CHAPTER 1 THE CANADIAN FINANCIAL REPORTING ENVIRONMENT Multiple Choice—Conceptual Answer No. Description d 1. Accounting characteristics. a 2. Nature of financial accounting. c 3. Definition of financial accounting. a 4. Financial reporting entity. d 5. Efficient use of resources. d 6. Capital allocation process. c 7. Assessing management stewardship. c 8. Objectives of financial reporting. a 9. Role of AcSB. c 10. Body responsible for setting GAAP. b 11. Preparation of biased information
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