This website uses cookies to ensure you have the best experience. Learn more

Acc 551 Week One Quiz Essay

475 words - 2 pages

Points Received: | 25 / 25  (100%) |
|
Question Type: | # Of Questions: | # Correct: |
Multiple Choice | 5 | 5 |
|
|

Grade Details - All Questions |

Question 1. | Question : | (TCO C) Intangible assets are reported on the balance sheet |
|
  | Student Answer: | | with an accumulated depreciation account. |
  | | | in the property, plant, and equipment section. |
  | | | separately from other assets. |
  | | | None of the above
 
|
  | Instructor Explanation: | Proper classification under U.S. GAAP. Chapter 12 |
|
|
  | Points Received: | 5 of 5 |
  | Comments: | |
|
|
Question 2. | Question : | (TCO C) Which of the following is often reported as an extraordinary item? |
|
  | Student Answer: | | Amortization expense |
  | | | Impairment losses for intangible assets ...view middle of the document...

What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2011? |
|
  | Student Answer: | | $0 |
  | | | $24,000 |
  | | | $32,000 |
  | | | $36,000
 
|
  | Instructor Explanation: | ($120,000 / 10) X 2 2/3 = $32,000. Chapter 12 |
|
|
  | Points Received: | 5 of 5 |
  | Comments: | |
|
|
Question 4. | Question : | (TCO C) A company acquires a patent for a drug with a remaining legal and useful life of 6 years on January 1, 2009 for $1,800,000. The company uses straight-line amortization for patents. On January 2, 2011, a new patent is received for a timed-release version of the same drug. The new patent has a legal and useful life of 20 years. The least amount of amortization that could be recorded in 2011 is |
|
  | Student Answer: | | $300,000. |
  | | | $60,000. |
  | | | $81,818. |
  | | | $69,000.
 
|
  | Instructor Explanation: | $1,800,000 – [($1,800,000 / 6) X 2] = $1,200,000. $1,200,000 / 20 = $60,000. Chapter 12 |
|
|
  | Points Received: | 5 of 5 |
  | Comments: | |
|
|
Question 5. | Question : | (TCO C) Harrel Company acquired a patent on an oil extraction technique on January 1, 2010 for $5,000,000. It was expected to have a 10-year life and no residual value. Harrel uses straight-line amortization for patents. On December 31, 2011, the future cash flows from the patent were expected to be $600,000 per year for the next 8 years. The present value of these cash flows, discounted at Harrel’s market value of these cash flows, and discounted at Harrel’s market interest rate, is $2,800,000. At what amount should the patent be carried on the December 31, 2011 balance sheet? |
|
  | Student Answer: | | $5,000,000 |
  | | | $4,800,000 |
  | | | $4,000,000 |
  | | | $2,800,000
 
|
  | Instructor Explanation: | $5,000,000 – [($5,000,000 / 10) X 2] = $4,000,000. Chapter 12 |
|
|
  | Points Received: | 5 of 5 |
|
|
|

Other Papers Like Acc 551 Week One Quiz

Uop Acc 291 Final Exam Homework Help

2434 words - 10 pages of these answer choices may be classified as such. Click here to download Complete Answers of ACC 291 Week 5 Complete Multiple Choice Question 165 The current assets of Orangatte Company are $227,500. The current liabilities are $130,000. The current ratio expressed as a proportion is • 1.75:1. • 175%. • $210,000 ÷ $120,000. • .57:1. Multiple Choice Question 41 All of the following

Acc 291 Final Exam Latest Uop Material

2455 words - 10 pages ). • Revenue is recognized when earned. • A lack of disclosure about guaranteed payments that were mentioned in the MD&A of the annual report. • Adoption of a different inventory method for each of the last three years. Find the quiz answers here ACC 291 Final Exam Answers IFRS Multiple Choice Question 05 IFRS • implies that receivables with different characteristics should be reported as one unsegregated

Acc 291 Final Exam Uop a+ Course Tutorial

2454 words - 10 pages Allowance for Doubtful Accounts for $3,300. Multiple Choice Question 182 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?     60.8 96.1 36.5 48.7 Find the quiz answers here ACC 291 Final Exam Answers

Fgvsdgsdg

1037 words - 5 pages This work includes ACC 202 Week 2 Assignment Article Summary Access and read the ProQuest article: Van der Merwe, A., Thomson, J (2007, February). The Lowdown on Lean Accounting. Strategic Finance, 88(8), 26-33. Write a 1 to 2 page summary of the article and submit to the instructor by the end of Day 7. General Questions - General General Questions ACC 202 Week 1 Assignment Week One Exercises Week One Exercises

Butterflies

566 words - 3 pages Phoenix ACC 260 Accounting Ethics: Keeping it Clean Donna Volk June 19... Save Paper Narrative Assignment Week 2 Narrative Assignment Week #2 Krs1 ELL240: Linguistically & Culturally Diverse Learners April 4, 2011 The Evolution of Reader Response Theory... Save Paper Week 3 Health Promotion Program falling into the trap of over indulgence. Classes are available in the evenings every day of the week. Every day addresses one particular health issue. People are... Save Paper Ops/Tm571 Week 2 2011). Pizza Store Layout Simulation. Retrieved March 21, 2011 from University of Phoenix, Week Two, OPS/TM571?Operations Management in Technology Web site...

Quiz Study Guide

1298 words - 6 pages disconnected, so students should try to re-login as quickly as possible. The Help Desk cannot grant any student additional time on the exam. 3. Quizzes for this course will take place during Week 4 and Week 7. This study guide will cover content for both weeks. 4. Reminders * You will only be able to enter your online Quiz one time. * Click the "Save Answers" button often. * If you lose your Internet connection during your Quiz, logon

Mkt 571 Week 1 Quiz Latest Uop Assignment

982 words - 4 pages MKT 571 Week 1 Quiz Latest UOP Assignment 1. What data analysis type is being used here? When Sam thought about opening a foreign car repair shop in Phoenix, he researched all of the firms in the area before deciding on a location. He also analyzed their capabilities and found articles about many of them in terms of their capabilities, strengths, and weaknesses. • Secondary data • Primary data • Licensed information

Acc 557 Midterm Exam Part 2

1267 words - 6 pages Doubtful Accounts for $14,000. Find the Complete exam answers click here ACC 557 Week 1 Complete Question 6 The basic issues in accounting for notes receivable include each of the following except • analyzing notes receivable. • disposing of notes receivable. • recognizing notes receivable. • valuing notes receivable. Question 7 Three accounting issues associated with accounts receivable are • depreciating, returns, and valuing

Mkt 571 Week 1 Quiz Complete Assignment Help

969 words - 4 pages an art and a science. How do the 4Ps, or marketing mix, help us bridge the gap between art and science? • Marketing focuses on sales as the primary goal. • Marketing balances the need for data with that of creativity. • Marketing is about advertising. • Marketing is involved with price as the major factor. Quiz Answers just a click away MKT 571 Week 1 Quiz 3. Which of the following statements demonstrates behavioral

Mkt 571 Week 3 Quiz Latest Uop Assignment

990 words - 4 pages MKT 571 Week 3 Quiz Latest UOP Assignment 1. Most new-product activities are devoted to • introducing backward integration • changing the target markets • improving existing products • changing the existing market dynamics 2. Which of the following is the best example of a new-to-the-world product? • Tata Motors, an Indian automobile company, acquires Jaguar to extend its business • Kids-Med, a company that produces childcare

Mkt 571 Week 1 Quiz Complete Assignment Help

969 words - 4 pages an art and a science. How do the 4Ps, or marketing mix, help us bridge the gap between art and science? • Marketing focuses on sales as the primary goal. • Marketing balances the need for data with that of creativity. • Marketing is about advertising. • Marketing is involved with price as the major factor. Quiz Answers just a click away MKT 571 Week 1 Quiz 3. Which of the following statements demonstrates behavioral

Related Essays

Acc 561 Final Exam Latest Uop Assignments

1697 words - 7 pages quiz answers here ACC 561 Week 3 Quiz (Latest) 40. Activity-based costing • allocates overhead to multiple activity cost pools, and it then assigns the activity cost pools to products and services by means of cost drivers. • assigns activity cost pools to products and services, then allocates overhead back to the activity cost pools. • accumulates overhead in one cost pool, then assigns the overhead to products and services by means of a

Acc 561 Final Exam Latest Uop Course Assignments

1723 words - 7 pages cost system is that each job • Must be similar to previous jobs completed. • has its own distinguishing characteristics. • Must be completed before a new job is accepted. • Consists of one unit of output. Complete paper here ACC 561 Week 1 Complete 49. in a process cost system, product costs are summarized: • On job cost sheets. • On production cost reports. • When the products are sold. • After each unit is produced. 33. An activity

Acc 561 Final Exam Latest University Of Phoenix Final Exam Study Guide

1674 words - 7 pages . This article covers the basic of ACC 561Final Exam Assignment from UOP. Other topics in the class are as follows ACC 561 Week 1 DQ 1 ACC 561 Week 1 DQ 2 ACC 561 Week 1 Quiz (Latest) ACC 561 Week 1 WileyPLUS Assignment ACC 561 Week 1 Financial Statement Review ACC 561 Week 1 Complete ACC 561 Week 2 DQ 1 ACC 561 Week 2 DQ 2 ACC 561 Week 2 Quiz (Latest) ACC 561 Week 2 Ratio Analysis Assignment ACC 561 Week 2 Financial Statement Analysis

Acc 561 Final Exam Latest University Of Phoenix Tutoring

1680 words - 7 pages Assignment ACC 561 Week 5 Complete ACC 561 Week 6 DQ 1 ACC 561 Week 6 DQ 2 ACC 561 Week 6 WileyPLUS Assignment ACC 561 Week 6 Complete ACC 561 Week 6 Final Exam ACC 561 Week 1 Quiz (Latest) ACC 561 Week 2 Quiz (Latest) ACC 561 Week 3 Quiz (Latest) ACC 561 Week 4 Quiz (Latest) ACC 561 Week 5 Quiz (Latest) ACC 561 Week 6 Quiz (Latest) Want to check other classes..?? Visit: www.assignmentehelp.com