• 130 Pages Chap008
    Chap008

    School: Ill. Chicago

    Course: Intermediate Accounting

    Chapter 08 - Inventories: Measurement Chapter 08 Inventories: Measurement True / False Questions 1. Physical counts of inventory are never done with perpetual inventory systems. True False 2. The main difference between perpetual and periodic inventory sy

  • 156 Pages Chap005
    Chap005

    School: Ill. Chicago

    Course: Intermediate Accounting

    Chapter 05 - Income Measurement and Profitability Analysis Chapter 05 Income Measurement and Profitability Analysis True / False Questions 1. Revenue is not recognized under the realization principle unless the earnings process is complete or virtually co

  • 150 Pages Chap013
    Chap013

    School: Ill. Chicago

    Course: Intermediate Accounting

    Chapter 13 - Current Liabilities and Contingencies Chapter 13 Current Liabilities and Contingencies True / False Questions 1. Some liabilities are not contractual obligations and may not be payable in cash. True False 2. Amounts withheld from employees in

  • 88 Pages ch10 Actg 315 UIC
    Ch10 Actg 315 UIC

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    ch10 Student: _ 1. Property, plant, and equipment and intangible assets are long-term, revenue producing assets. True 2. Sales tax paid on equipment acquired for use in the business is not capitalized. True 3. False The fair value of the asset, debt or eq

  • 123 Pages ch12 Actg 315 UIC
    Ch12 Actg 315 UIC

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    ch12 Student: _ 1. Securities classified as held to maturity could be reported as either current or long-term in a classified balance sheet, depending upon their maturity dates. True 2. All investments in debt securities whose fair values are not readily

  • 69 Pages ACTG.textbook.ch4
    ACTG.textbook.ch4

    School: Ill. Chicago

    Income from Continuing Operations LO41 Chapter 4 LO4-1 Narrated PowerPoint The need to provide information to help analysts predict future cash flows emphasizes the importance of properly reporting the amount of income from the entity's continuing operat

  • 102 Pages Chap006
    Chap006

    School: Ill. Chicago

    Course: Intermediate Accounting

    Chapter 06 - Time Value of Money Concepts Chapter 06 Time Value of Money Concepts True / False Questions 1. Compound interest includes interest earned on interest. True False 2. When interest is compounded, the stated rate of interest exceeds the effectiv

  • 117 Pages Chap004
    Chap004

    School: Ill. Chicago

    Course: Intermediate Accounting

    Chapter 04 - The Income Statement and Statement of Cash Flows Chapter 04 The Income Statement and Statement of Cash Flows True / False Questions 1. Income from continuing operations sometimes includes gains from nonoperating activities. True False 2. Intr

  • 154 Pages Chap007
    Chap007

    School: Ill. Chicago

    Course: Intermediate Accounting

    Chapter 07 - Cash and Receivables Chapter 07 Cash and Receivables True / False Questions 1. Cash equivalents would include investments in marketable equity securities as long as management intends to sell the securities in the next three months. True Fals

  • 157 Pages Chap012
    Chap012

    School: Ill. Chicago

    Course: Intermediate Accounting

    Chapter 12 - Investments Chapter 12 Investments True / False Questions 1. Securities classified as held to maturity could be reported as either current or long-term in a classified balance sheet, depending upon their maturity dates. True False 2. All inve

  • 121 Pages Chap010
    Chap010

    School: Ill. Chicago

    Course: Intermediate Accounting

    Chapter 10 - Property, Plant, and Equipment and Intangible Assets: Acquisition and Disposition Chapter 10 Property, Plant, and Equipment and Intangible Assets: Acquisition and Disposition True / False Questions 1. Property, plant, and equipment and intang

  • 115 Pages Chap003
    Chap003

    School: Ill. Chicago

    Course: Intermediate Accounting

    Chapter 03 - The Balance Sheet and Financial Disclosures Chapter 03 The Balance Sheet and Financial Disclosures True / False Questions 1. The balance sheet reports a company's financial position at a point in time. True False 2. A company's market value i

  • 34 Pages Actg 315 CH. 10 Operational Assets Acquisition and Disposition Free Response with Answers
    Actg 315 CH. 10 Operational Assets Acquisition And Disposition Free Response With Answers

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    Chapter 010 Operational Assets: Acquisition and Disposition Essay Questions 120. On July 1, 2009, Jekel & Hyde Inc. purchased land and incurred other costs relative to the construction of a new warehouse. A summary of economic activities is listed below:

  • 14 Pages ACTG 315 - Chapter 8B Inventories - Connect HW Solutions
    ACTG 315 - Chapter 8B Inventories - Connect HW Solutions

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    1. award: 1 out of 1.00 point Exercise 8-7 Goods in transit; consignment [LO8-2] The December 31, 2013, year-end inventory balance of the Raymond Corporation is $210,000. You have been asked to review the following transactions to determine if they have b

  • 18 Pages ACTG 315 Connect HW 5B Income Measurement Solutions
    ACTG 315 Connect HW 5B Income Measurement Solutions

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    Question 1: Your response Correct response Exercise 5-9 Long-term contract; percentage-of-completion andpercentage-of-comp Exercise 5-9 Long-term contract; completed contract methods LO4 methods LO4 Assume Nortel Networks contracted to Nortel Networks con

  • 3 Pages ACTG 315 Connect Chapter 2 Accounting Process HW Answers
    ACTG 315 Connect Chapter 2 Accounting Process HW Answers

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    Companies with a high volume of transactions normally use a computerized accounting information system. The type of system that integrates the information of departments and functions of a company into a single computer system is called a(n) Enterprise R

  • 5 Pages AC 315 Fall 2013 - Chapter 5 Income Measurement - Answer Key
    AC 315 Fall 2013 - Chapter 5 Income Measurement - Answer Key

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

  • 7 Pages AC 315 Fall 2012 - Chapter 2 Accounting Process - Super Quiz Answer Key
    AC 315 Fall 2012 - Chapter 2 Accounting Process - Super Quiz Answer Key

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

  • 6 Pages AC 315 Spring 2014 - Chapter 7 Cash and Receivables - Quiz Answer Key
    AC 315 Spring 2014 - Chapter 7 Cash And Receivables - Quiz Answer Key

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

  • 6 Pages AC 315 Spring 2014 - Chapter 2 Accounting Process - Quiz Answer Key
    AC 315 Spring 2014 - Chapter 2 Accounting Process - Quiz Answer Key

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

  • 4 Pages AC 315 Spring 2014 - Chapter 5 Income Measurement - Quiz Answer Key
    AC 315 Spring 2014 - Chapter 5 Income Measurement - Quiz Answer Key

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

  • 1 Page ACTG 315 - Chapter 10A Operational Assets - Connect HW Answers
    ACTG 315 - Chapter 10A Operational Assets - Connect HW Answers

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    Question #1 Answer: Land Purchase price $60,000 Demolition of old building $2,000 ($ 4,000 - $2,000) Legal fees for title investigation of land 2,000 Total $64,000 New building Architects fees (for new building) 12,000 Construction costs 500,000 Interest

  • 127 Pages Chap002
    Chap002

    School: Ill. Chicago

    Course: Intermediate Accounting

    Chapter 02 - Review of the Accounting Process Chapter 02 Review of the Accounting Process True / False Questions 1. Owners' equity can be expressed as assets minus liabilities. True False 2. Debits increase asset accounts and decrease liability accounts.

  • 74 Pages Chap001
    Chap001

    School: Ill. Chicago

    Course: Intermediate Accounting

    Chapter 01 - Environment and Theoretical Structure of Financial Accounting Chapter 01 Environment and Theoretical Structure of Financial Accounting True / False Questions 1. The primary function of financial accounting is to provide relevant financial inf

  • 9 Pages Homwork Chapter 8
    Homwork Chapter 8

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    Problem 8-1 Requirement 1 a. To record the purchase of inventory on account and the payment of freight charges. October 12, 2011 Purchases (98% x $22,000). . Accounts payable . 21,560 Freight-in. . Cash b. 500 500 To record purchase returns. October 18, 2

  • 5 Pages Homework Chapter 9
    Homework Chapter 9

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    Problem 9-1 Requirement 1 Product NRV per unit $16 - (15% x $16) = $13.60 $18 - (15% x $18) = $15.30 $ 8 - (15% x $8) = $ 6.80 $ 6 - (15% x $6) = $ 5.10 $13 - (15% x $13) = $11.05 A B C D E (1) NRV-NP per unit $13.60 - (40% x $16) = $7.20 $15.30 - (40% x

  • 13 Pages Homework Chapter 10
    Homework Chapter 10

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    Problem 10-1 1. To record the acquisition of land and building. Land (determined below). Building (determined below). . Cash . 100,000 62,500 37,500 Percent of Total Fair Value Asset Land Building Fair Value $ 75,000 45,000 $120,000 62.5% 37.5 100.0% 2. T

  • 12 Pages Homework Chapter 11
    Homework Chapter 11

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    Problem 11-1 Requirement 1 Determine useful life: $200,000 depreciable base = 20-year useful life $10,000 annual depreciation Determine age of assets: $40,000 accumulated depreciation = 4 years old $10,000 annual depreciation Double-declining balance in 4

  • 18 Pages Homework chapter 12
    Homework Chapter 12

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    Problem 12-1 Requirement 1 Investment in bonds (face amount). Discount on bond investment (difference). Cash (price of bonds). Requirement 2 Cash (4% x $80 million). Discount on bond investment (difference). Interest revenue (5% x $66). 3.30 Requirement 3

  • 5 Pages Chapter 7 Quiz Answer Key
    Chapter 7 Quiz Answer Key

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

  • 3 Pages Chapter 5 Quiz Answer Key
    Chapter 5 Quiz Answer Key

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

  • 7 Pages Chapter 2 Quiz Answer Key Fall 2011
    Chapter 2 Quiz Answer Key Fall 2011

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

  • 3 Pages Homework chapter 7 requirement 2
    Homework Chapter 7 Requirement 2

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    Requirement 2 ANALYSIS Previous Value: Accrued 2010 interest (10% x $20,000,000) $ 2,000,000 Principal 20,000,000 Carrying amount of the receivable $22,000,000 New Value: Interest Principal $1 million $15 million Present value of the receivable x 3.16987

  • 17 Pages Homework chapter requirement 1
    Homework Chapter Requirement 1

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    Problem 7-1 Requirement 1 Monthly bad debt expense accrual summary. Bad debt expense (3% x $2,620,000). . Allowance for uncollectible accounts . 78,600 78,600 To record year 2011 accounts receivable write-offs. Allowance for uncollectible accounts. . Acco

  • 7 Pages AC 315 Chapter 1 HW 6th Ed
    AC 315 Chapter 1 HW 6th Ed

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    Chapter 01 - Environment and Theoretical Structure of Financial Accounting Chapter 1 Environment and Theoretical Structure of Financial Accounting 1- 1 Chapter 01 - Environment and Theoretical Structure of Financial Accounting EXERCISES Exercise 1-1Requir

  • 3 Pages ch.12A
    Ch.12A

    School: Ill. Chicago

    Problem 12-1 Securities held-to-maturity; bond investment; effective interest [LO12-1] Fuzzy Monkey Technologies, Inc., purchased as a long-term investment $80 million of 8% bonds, dated January 1, on January 1, 2013. Management has the positive intent an

  • 8 Pages Chap015
    Chap015

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    Student Name: Instructor Class: McGraw-Hill/Irwin Problem 15-08 RHONE-METRO INDUSTRIES Annual Lease Payments Requirement 1: Lessor's Calculation of Lease Payments Amount to be recovered (fair value) Less: Present value of the guaranteed residual value Amo

  • 7 Pages AC 315 CH 6 HW B 6th Ed
    AC 315 CH 6 HW B 6th Ed

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    Chapter 06 - Time Value of Money Concepts Problem 6-6 1. PV of $1 factor = $30,000 = .5000 $60,000 Present value of $1: n=? , i=8% (from Table 2, n = approximately 9 years) 2. Annuity factor = Annuity factor = $28,700 = 4.1000 $7,000 Present value of an o

  • 96 Pages ch11 Actg 315 UIC
    Ch11 Actg 315 UIC

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    ch11 Student: _ 1. The three factors in cost allocation of a depreciable asset are service life, allocation base, and allocation method. True 2. The physical life of a depreciable asset sets the lower limit of its service life. True 3. False One of the ad

  • 1 Page Homework chapter
    Homework Chapter

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    Requirement 1 Pete, Pete, and Roy Operating Cash Flow Cash collected Cash disbursements: Salaries Utilities Purchase of insurance policy Net operating cash flow Year 1 $160,000 Year 2 $190,000 (90,000) (30,000) (60,000) $(20,000) (100,000) (40,000) -0$ 50

  • 3 Pages Home work chapter 1
    Home Work Chapter 1

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    Exercise 1-3 Requirement 1 FASB ASC 820: Fair Value Measurements and Disclosures Requirement 2 The specific citation that describes the information that companies must disclose about the use of fair value to measure assets and liabilities for recurring me

  • 6 Pages Homework chapter 6
    Homework Chapter 6

    School: Ill. Chicago

    Course: Intermediate Financial Accounting I

    Problem 6-1 Choose the option with the lowest present value of cash outflows, net of the present value of any cash inflows (Cash outflows are shown as negative amounts; cash inflows as positive amounts). Machine A: PV = $48,000 1,000 (6.71008) + 5,000 (.4

  • 26 Pages Chapter3Answers
    Chapter3Answers

    School: Ill. Chicago

    EXERCISE 3-4 (Continued) Blues Traveler Corporation Trial Balance (corrected) April 30 Debit Cash Accounts Receivable Supplies on Hand Furniture and Equipment Accounts Payable Common Stock Retained Earnings Revenue from Fees Office Expense $06,172 4,

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