11 sample documents related to ACCOUNTING ACCT-351

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  Lesson1-10Appendices

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  ACCT 351 Intermediate Financial Accounting I Lesson 1: The Environment of and Conceptual Framework for Financial Reporting Overview Lesson 1 covers Chapters 1 and 2 of the textbook. These chapters are important. They focus on concepts that form the theore
   
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  Lesson%201%20Solutions

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  Suggested Solutions for ACCT 351 Lesson 1, Chapter 1 Assignment 1-1 (text, p. 31) F 1. The presence of restrictive bond covenants, specifying minimum times-interestearned ratios, means that an organization will have a tendency to pick discretionary accoun
   
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  Lesson%202%20Solutions

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  Suggested Solutions for ACCT 351 Lesson 2, Chapter 3 Assignment 3-4 (text, pp. 119120) Requirement 1 Sandvik Cement Company Income Statement (single-step) For the Year Ended 31 December 20X5 Revenues and gains: Sales. Rental. Gain on sale of short-term in
   
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  Lesson%203%20Solutions

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  Suggested Solutions for ACCT 351 Lesson 3, Chapter 4 Assignment 4-4 (text, pp. 173174) No. Answer 1. 2. 3. 4. 5. 6. A B C G B A 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. E E H D C -A B F -H G G -D A A G K G G Justification Comme
   
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  Lesson%204%20Solutions

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  Suggested Solutions for ACCT 351 Lesson 4, Chapter 5 Assignment 5-8 (text, pp. 243244) Rangler Paper Company Cash Flow Statement Year Ended 31 December 20X5 (in `000\'s) Net cash inflows (outflows) from operating activities: Net income . Adjustments Amorti
   
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  Lesson%205%20Solutions

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  Suggested Solutions for ACCT 351 Lesson 5, Chapter 6 Assignment 6-1 (text, p. 320) a) Interest revenue is recognized as time passes according to amount earned. b) Interest revenue is recognized as time passes according to amount earned. c) Revenue would b
   
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  Lesson%206%20Solutions

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  Suggested Solutions for ACCT 351 Lesson 6, Chapter 7 Assignment 7-1 (text, p. 382) a) Post-dated cheque-report as accounts receivable because it is not negotiable until the date on the cheque. Report as an account receivable because it is not a negotiable
   
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  Lesson%207%20Solutions

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  Suggested Solutions for ACCT 351 Lesson 7, Chapter 8 Assignment 8-7 (text, p. 446) Requirement 1 20X0 FIFO income Closing inventory cost differential1 Opening inventory cost differential 1 20X1 $45,000 (40,350) 3,750 $ 8,400 20X2 $48,750 (46,500) 40,350 $
   
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  Lesson%208%20Solutions

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  Suggested Solutions for ACCT 351 Lesson 8, Chapter 9 Assignment 9-5 (text, p. 518) a. Cost is $41,450 [$40,000 + $1,000 + (1/2 $900)]. Cost is measured by cash paid plus liabilities assumed. Taxes for the current year should be prorated between asset and
   
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  Lesson%209%20Solutions

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  Suggested Solutions for ACCT 351 Lesson 9, Chapter 10 Assignment 10-4 (text, p. 588) Requirement 1 Year 1 2 a. b. c. d. (a) DB 30% $5,400 3,780 (b) Productive (c) SL Output $1,920 $2,800 2,880 2,800 (d) SYD $4,800 4,000 $18,000 .3; ($18,000 $5,400) .3 ($1
   
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  Lesson%2010%20Solutions

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  Suggested Solutions for ACCT 351 Lesson 10, Chapter 11 Assignment 11-2 (text, pp. 658659) Investment 1. Strip bonds Classification & Accounting Method Available-for-sale investment (intent is short-term profit) Fair value method (gains and losses are incl