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ACC 40 intermediate accounting

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Wayne Community College'
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Schmeltzer

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Background Knowledge Expected

Many Small Assignments

Math-heavy

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4 pages
- chapter 7
- Wayne Community College
- ACC 40 - Fall 2015
- On December 31, Pitts Manufacturing Company reports the following assets: Cash Work in process Equipment Building $50,000 176,000 950,000 1,200,000 Raw materials Marketable securities Finished goods Goodwill $74,000 25,000 150,000 50,000 What is the total
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chapter 7
3 pages
- chapter 4
- Wayne Community College
- ACC 40 - Fall 2015
- Match the following terms with the appropriate component of the accounting equation: (1) Assets (2) Liabilities (3) Shareholders' Equity A. The probable sacrifices of economic benefits arising from the present obligations of a company to transfer assets o
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chapter 4
8 pages
- chapter 4 exercise
- Wayne Community College
- ACC 40 - Fall 2015
- Current Assets Listed here are certain accounts of Jenkins Company at the end of 2016: Account Debit (Credit) Land $ 12,000 Prepaid Insurance 1,530 Cash on Hand 1,120 Notes Receivable (due 2016) 4,300 Cash in Bank 5,400 Allowance for Doubtful Accounts ( 1
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chapter 4 exercise
3 pages
- chapter 5
- Wayne Community College
- intermediate accounting
- ACC 40 - Fall 2015
- Account Classifications Indicate where each item would most likely be reported in the financial statements by selecting the corresponding components. Assume the monetary amount of each item is material. 1. Purchases 2. Loss on sale of equipment 3. Utiliti
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chapter 5
3 pages
- chapter 2 income
- Wayne Community College
- Individual Income Taxes
- ACC 40 - Fall 2015
- The Nature of Gross Income (LO 2.1) The definition of gross income in the tax law is: a. All items specifically listed as income in the tax law. b. All cash payments received for goods provided and services performed. c. All income from whatever source de
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chapter 2 income
3 pages
- chapter 3
- Wayne Community College
- Individual Income Taxes
- ACC 40 - Fall 2015
- What form does a self-employed sole proprietor usually use to report income and expenses from business? a. Schedule C b. Schedule D c. Schedule A, Miscellaneous Itemized Deductions In the current year, Mary started a profitable housekeeping business as a
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chapter 3
8 pages
- 5170 syllabus Summer 2015 (1)
- Wayne Community College
- intermediate accounting
- ACC 40 - Winter 2015
- INTRODUCTION TO TAXATION: INDIVIDUALS ACC 5170 CRN: 34743 SYLLABUS SUMMER 2015 228 STATE TUESDAY AND THURSDAY 6:00 8:45 PM INSTRUCTOR: Antoni Walsh, J.D., LL.M. OFFICE: Room 140 Rands House PHONE: 313-577-2568 (voice mail available) 313-577-4530 (departme
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5170 syllabus Summer 2015 (1)
7 pages
- 5170 assign s 2015 (1)
- Wayne Community College
- intermediate accounting
- ACC 40 - Winter 2015
- ACCOUNTING 5170 SUMMER 2015 SEMESTER ASSIGNMENTS DATE 7/2 READING ASSIGNMENT HOMEWORK PROBLEMS Welcome and Introductions Chapter 1 7/7 34,35,39,42,53,56,57,59 Chapter 2 43,44,45,46,47,48,49, 50,51,52,53,54,55,57, 58,61,62,66,78 Chapter 3 Accounting 5170 A
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5170 assign s 2015 (1)
9 pages
- Study guide
- Wayne Community College
- intermediate accounting
- ACC 40 - Fall 2013
- 2002,CongresspassedtheSarbanesOxleyAct(SOX)toreduceunethicalcorporatebehaviorand decreasethelikelihoodoffuturecorporatescandals.AsaresultofSOX,topmanagementmustnow certifytheaccuracyoffinancialinformation.Inaddition,penaltiesforfraudulentfinancialactivity
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Study guide
5 pages
- chapter 2
- Wayne Community College
- intermediate accounting
- ACC 40 - Fall 2015
- The FASB's Conceptual Framework establishes a theoretical foundation for establishing consistent, highquality financial accounting standards. The Conceptual Framework is expected to do all of the following except: a. Enhance financial statement comparabil
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chapter 2
4 pages
- exam 2.2
- Wayne Community College
- ACC 40 - Fall 2015
- Payments made by an employer for health insurance on behalf of an employee are considered income to the employee at the time the payments are made. a. True b. False Cash allowances for meals or lodging generally must be included in the employee's income.
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exam 2.2
2 pages
- exam 2
- Wayne Community College
- ACC 40 - Fall 2015
- Noncash items received as income must be included in income at their fair market value. a. True b. False Awards, bonuses, and gifts are all included in gross income. a. True b. False Interest income received by a cash basis taxpayer is generally reported
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exam 2
7 pages
- Classify the balance sheet treatment for each item
- Wayne Community College
- ACC 40 - Fall 2015
- Classify the balance sheet treatment for each item. If the item should be included in Cash, select "Cash" from the "Classification of Items" list. If not, select the correct choice to show how the item would be reported on the balance sheet. Included in
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Classify the balance sheet treatment for each item
3 pages
- chapter 6
- Wayne Community College
- ACC 40 - Fall 2015
- Cash and Cash Equivalents On December 31, Harrison Company reports the following assets: Cash on hand Certificates of deposit Deposits in a foreign bank Compensating balance Checking account Sinking fund Savings account Travel advance Negotiable checks Wh
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chapter 6
4 pages
- chapter 7 questions
- Wayne Community College
- ACC 40 - Fall 2015
- Inventory Manufacturing companies typically have which of the following types of inventory accounts in the financial statements? a. Raw materials inventory, merchandise inventory, and work in process inventory. b. Raw materials inventory, finished goods i
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chapter 7 questions
3 pages
- chapter 8
- Wayne Community College
- ACC 40 - Fall 2015
- Under the lower of cost or market inventory valuation rule, market value of inventory is defined as: a. Current replacement cost. b. The lower of net realizable value or current replacement cost. c. Net realizable value minus a normal profit margin. d. Ne
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chapter 8
1 pages
- Required
- Wayne Community College
- ACC 40 - Fall 2015
- Required: For each situation, state whether Hayes should include the merchandise in its inventory. As the auditor of the Hayes Company for the year ended December 31, 2016, you found the following transactions occurred near its closing date: 1. Merchandis
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Required
3 pages
- Accounting can be defined in a number of ways
- Wayne Community College
- intermediate accounting
- ACC 40 - Fall 2015
- Accounting can be defined in a number of ways, but I chose the book definition, which is; Accounting is an information system that provides reports to stakeholders about the economic activities and condition of business. The person in charge of accounting
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Accounting can be defined in a number of ways
4 pages
- chapter 9
- Wayne Community College
- intermediate accounting
- ACC 40 - Fall 2015
- Liabilities A liability where there is no legal requirement for assets to be transferred, but a transfer of assets typically occurs as a part of the normal operations of a business is a(n) equitable or constructive liability and would include liabilities
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chapter 9
22 pages
- Quiz
- Wayne Community College
- intermediate accounting
- ACC 40 - Fall 2013
- Question 1 1 out of 1 points Which of the following is not a stockholders' equity account? Selected Answer: Response Feedback: Cas h Cash is an asset account not a stockholders' equity account. See chapter 3 handouts and textbook pages 18 and 49. Question
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Quiz

intermediate accounting Advice

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Jan 10, 2017
| Would highly recommend.
This class was tough.

Course Overview:

In this course you have ample opportunity to learn and understand each chapter before taking the test. I would always recommend doing online courses for accounting type classes

Course highlights:

I gained a more advanced knowledge base of accounting and a better understanding.

Hours per week:

6-8 hours

Advice for students:

Do not procrastinate. Never wait for the day it's due to begin the assignments, you will always lose and it never hurts to turn in assignments early.
- Course Term: Winter 2016
- Professor: Schmeltzer
- Course Required? Yes
- Course Tags: Math-heavy Background Knowledge Expected Many Small Assignments

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ACC 40 intermediate accounting

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intermediate accounting Questions & Answers

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