The Coca-Cola Company is the worlds largest beverage company. They own or license and
market more than 500 nonalcoholic beverage brands, primarily sparkling beverages but also a
variety of still beverages such as waters, enhanced waters, juices an
Advanced Financial Accounting
Assignment for Chapter 5
Due no later than 11:59 pm, CDT, Sunday, October 23. You may work in groups, or
individually. If you work a groups, include the names of all group members on your
submission. In addition, each member
Quiz 4 Solutions
Use the following information for Questions 1 to 3.
Top That manufactures baseball-style hats. Material is introduced at the beginning of the process
in the Cutting Department. Conversion costs are incurred (and allocated) uniform
Questions 1 through 4 are based on the following information pertaining to ABC Corp.s manufacturing operations.
ABC Corp. uses an Actual Costing system whereby actual manufacturing costs are recorded to work-in-process.
Ch. 17 Quiz
1) A company's defined benefit pension plan had a PBO of $267,000 on January 1, 2016. During 2016,
pension benefits paid were $45,000. The discount rate for the plan for this year was 12%. Service cost
for 2016 was $87,000. Plan assets (fair v
1) Jane's Donut Co. borrowed $196,000 on January 1, 2016, and signed a two-year note bearing
interest at 11%. Interest is payable in full at maturity on January 1, 2018. In connection with this
note, Jane's should report interest expense at December 31, 2
Ch. 16 Quiz
1) For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to
taxable income is as follows:
Pretax accounting income
1) On January 1, 2016, Legion Company sold $280,000 of 8% ten-year bonds. Interest is payable
semiannually on June 30 and December 31. The bonds were sold for $215,768, priced to yield
12%. Legion records interest at the effective rate. Legion should repo
Quiz 1 Solutions
The following amounts pertain to Arp Co.s manufacturing operations in March:
Quiz 3 Solutions
Jonathan manufacturing adopted a job-costing system. For the current year, budgeted cost driver
activity levels for direct labor hours and direct labor costs were 20,000 and $100,000,
respectively. In addition, budgeted
Quiz 2 Solutions
Edco Company produced and sold 45,000 units of a single product last year, with the following
Ch. 15 Quiz
1) On February 1, 2016, Pearson Corporation became the lessee of equipment under a five-year,
noncancelable lease. The estimated economic life of the equipment is eight years. The fair value of the
equipment was $630,000. The lease does not me
1) In 2015, Osgood Corporation purchased $8.5 million in 10-year municipal bonds at face value.
On December 31, 2016, the bonds had a market value of $2,700,000 and Osgood reclassified the
bonds from held to maturity to trading securities. Osgood's Decemb
BUDGET AND MANAGEMENT ANALYST
OFFICE OF MANAGEMENT AND BUDGET
BROWARD COUNTY FLORIDA
An Equal Opportunity Employer
BUDGET AND MANAGEMENT ANALYST POSITION
SALARY AND BENEFITS
Budget and Management Analysts serve as fiscal and
management consultants to agen
Audit Staff Intern
The internship program provides an introduction to audit. As an intern in Deloittes Audit
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in-depth exposure to the auditing profession and lear
Chapter 3 Constitutional and Legislative Sources
1. What are the three primary statutory sources of U.S. federal tax law?
Statutory sources, from the U.S. Congress
o U.S. Constitution
o Tax Treaties
o Internal Revenue Code
Administrative sources, from the
Clerk of the Circuit Court and Comptroller, Escambia County
Clerk of Courts County Comptroller Clerk of the Board of County Commissioners Recorder Auditor
Salary Range: $32,822 - $54,163 Dependent on Qualifications
Audit Full-Time Staf
Are you a detail-oriented, inquisitive minded individual who enjoys coming up with
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Chapter 4 Administrative Regulations and Rulings
2. Section 7805(a) of the Internal Revenue code authorizes the IRS to perform what activities?
Title 26, Subtitle F, Chapter 80, Subchapter A,
4. Define the terms regulation and Treasury decision. Where are
Chapter 2: Tax Research Methodology
2. What are the six basic steps in conduction tax research? Briefly discuss each step in the tax research
6. In each of the following independent situations, indicate whether the item generally would be a tax (
When a dispute between IRS and taxpayer cannot be settled thru the admin appeals process:
The taxpayer can seek relief via the judicial system
Taxpayer may elect one of three courts in which to initiate litigation
o Tax Court
o U.S. district courts
1. A US based parent company purchased all of the outstanding common stock of a foreign
subsidiary on January 1, 20X1. The following exchange rates pertain to 20X1:
January 1, 20X1
December 31, 20X1
ADVANCED FINANCIAL ACCOUNTING
1. Jackson, Inc., manufactures printing presses and acquires component parts from a German
fabricator. On November 1, 20X3 when 1 = $1.35, Jackson purchased components costing
100,000 from the
Accounts Receivable .
Warranty Obligations .
Pearson, Capital .
Murphy, Capital .
To adjust book values to market values.
Pearson, Capital .
Murphy, Capital .
Warner, Capital .
To record admiss
(1) Recomputation of Annual Translation Adjustment
Net assets owned by the investor at the beginning of period multiplied by the
change in the exchange rates during the period
[150,000 FC ($1.10 $1.20)] .
Increase in net assets (exc
Frankfurt Engineering, Inc., a US company, reconditions and sells injection molding
equipment. Reconditioning facilities exist in the United States, Germany, and
South Korea. The German facility had the following transactions.
Prepare the ent
CoMBINED CoRPORATE ENTITIES AND CoNSOLIDATIONS
Significant disclosure requirements for goodwill exist in any period in which goodwill
changes. A note must accompany the balance sheet in any period that has a change in goodwill.
The note would ex
Garfield owns 85% of Dunbar
Dunbar (subsidiary) is the original issuer of the bonds on 1/1/X4
If the bonds had been retired on January 2, 20X6, the entry made would have been:
Discount on B/P(1)