Premium Essay

Accounting Chapter Ten Homework

In:

Submitted By gracielyn
Words 285
Pages 2
E10-2
1. Factory Machinery
2. Truck
3. Factory Machinery
4. Land
5. Prepaid Insurance
6. Land Improvements
7. Land Improvements
8. Land
9. Building E10-4
1. False; Depreciation is a process of cost allocation.
2. True
3. False; Book value differs from fair value.
4. False; Depreciation applies to three classes of plant assets: land improvements, buildings, & equipment.
5. False; Depreciation does not apply to land.
6. True
7. False; Recognizing depreciation on an assets doesn't result in an accumulation of cash for replacement of the asset.
8.True
9. False; Deprecation expense and accumulated depreciation are reported on the balance sheet.
10. False; Three factors affect computation of deprecation: cost, useful life, and salvage value. E10-7
a.
Loss on Sale of Equipment $30,000
Accumulated Deprecation - Equipment 20000
Equipment 50000
b.
Cash $37,000
Accumulated Deprecation - Equipment 20000
Equipment 50000
Gain on Sale of Equipment 7000
c.
Cash $18,000
Loss on Sale of Equipment 12000
Accumulated Deprecation – Equipment 20000
Equipment 50000 P10-4A
a.
Patent 46800
Cash 46800
Research and Development Expense 210000
Cash 210000
Patents 20000
Cash 20000
Advertising Expense 40000
Cash 40000
Copyright 200000
Cash 200000
b.
Patent Amortization 12200
Patent 12200
Copyright Amortization 7600
Copyright 7600
c.
Intangible Assets
Patents $126,800
Less: Amortization 18200
Net Patents $108,600
Copyrights $236,000.00
Less: Amortization 32800
Net Copyrights $203,200.00 P10-6A
a. Danner Corporation London Corporation

Similar Documents

Free Essay

Syllabus

...Introduction to Managerial Accounting The course meets in Pellegrino Hall, Room 114, from 10:30 to 11:20 A.M. each Monday, Wednesday, and Friday . The first class meeting is on January 23, 2012. Credit hours: 3. Instructor: Jui-Chin Chang, Ph.D., CMA, CFM, Assistant Professor Office Hours: WHTC- 218B (956) 326-2501 Monday 11:30AM-12: 30 PM& 1:30 – 3:00 PM Wednesday 11:30AM-12: 30 PM &1:30 – 3:00 PM Friday 11:30AM-12: 30 PM E-mail: E-Learning (Angel): www.tamiu.edu/elearning/?id=2 Required Text: Introduction to Managerial Accounting (6th Ed) with Connect (Loose Leaf), P. Brewer, R. Garrison, & E. Noreen, McGraw-Hill/ ISBN: 9780078005305. Recommended: Wall Street Journal and BusinessWeek Prerequisite: ACC2301 with a grade “C” or better Course Description: This course will demonstrate the flexibility of the use of managerial accounting information to supply managers and other internal stakeholders for business decision-making. Upon completion of this course, students should possess a basic working knowledge and understanding of the accounting information systems used to provide information to internal stakeholders. The course gives students opportunities to prepare and analyze business transactions, prepare budgets, journal entries and financial statements. Course Goals: This course provides students with both an opportunity to learn accounting rules and to develop...

Words: 3087 - Pages: 13

Premium Essay

Acc 132 Syllabus

...ILLINOIS STATE UNIVERSITY College of Business Department of Accounting ACC 132 –Managerial Accounting Spring 2014 Section 3, Mon/Wed 2:00 - 3:15 pm, SFHB 357 INSTRUCTOR INFORMATION Instructor: Liesel Mitchell, CPA, CMA Office: COB 314 Phone: 438-7588 E-mail: lmitch2@ilstu.edu Office Hours: Mon/Wed 1:00 – 2:00 pm and 3:15-4:15 pm, Other hours by appointment (I am in class M/W from 9:30 am-12:15 pm and off campus on T/Th until 2:30 pm) Graduate Assistant: Sam Koury, skoury@ilstu.edu Tutoring: Accounting Department tutoring, SFHB 127, times TBA Julia N. Visor Academic Center: • Provides free weekly tutoring sessions (must sign up). Also provides assistance with a variety of other skills. • (309) 438-7100; www.ucollege.ilstu.edu/tutoring/ • Location: Vrooman 012 (between Manchester and Hewett dorms) COURSE INFORMATION Course Number, Title and Credit: Accounting 132, Managerial Accounting – 3 hrs credit Objective: This course is designed to introduce students to managerial accounting information, tools, and techniques available to assist them in managing a business as well as the preparation and analysis of cost accounting information. You will be able to understand, record, and analyze the operations of a firm under various conditions of cost application; understand the creation of various budgets and cash flow analysis of a business...

Words: 2025 - Pages: 9

Premium Essay

Femba Industry Study

...FEMBA Program M203A Financial Accounting for Management, Winter 2013 Section 1: 7:00-9:50pm Tuesday, SB 117 Section 2: 8:30-11:20am Saturday, SB 117 Instructor: Office: Office Hours: Website: T.A.: T.A.: Terry Shevlin SB 321 By appointment https://eee.uci.edu/13w/39520 Tim Haight Qin Li Phone: 949.824.6149 Email: tshevlin@uci.edu Email: thaight@uci.edu Email: qin.li@uci.edu Weekly TA Discussion Session: Monday evenings 7:00-8:20pm TLTC (starts Jan 13) This course is designed for individuals who have a desire to learn about accounting (the “language of business”) and its role in society. The practice of accounting goes back thousands of years and affects individuals, not-for profit organizations, large for-profit corporations, government entities, nonprofessional and professional sports teams, and many other entities. Understanding how to create and use accounting information is therefore critical to your future success as a strategic thinker and leader in any organization. Our focus is for-profit businesses. What is the objective of the course? The objective of the course is to help those of you who know little about accounting, but who are willful and active participants in their education, gain a basic understanding of accounting, its role in society, and how accounting information can be used to make informed decisions. Please note that many of you will find the material we will cover challenging. Thus, being a “willful and active participant” may require...

Words: 2271 - Pages: 10

Premium Essay

Rsm222

...Course Outline RSM222H1S Management Accounting (I) ------------------------------------------------- Winter 2015 Class timelocation, and instructor | L0101 | Monday | 10-12am | WO 20 | Gus De Franco | | L0201 | Monday | 12-2pm | WO 20 | Gus De Franco | | L0301 | Tuesday | 10-12pm | WO 25 | Gus De Franco | | L0401 | Tuesday | 12-2pm | WW121 | Gus De Franco | | L0501 | Tuesday | 2- 4pm | WO 25 | Hai Lu | | L0601 | Tuesday | 4- 6pm | WO 25 | Hai Lu | | L5101 | Tuesday | 7- 9pm | WO 20 | Amy Kwan | | L0901 | Wednesday | 4- 6pm | WO 25 | Amy Kwan | | L1001L0701 | ThursdayThursday | 8-10am10-12am | WW119WO 20 | Donna LosellEszter Palancz | | L0801 | Thursday | 12- 2pm | WO 20 | Eszter Palancz | Tutorial time and location | | | | | | | T0801 | Thursday | 10-11am | UC 52 | | | T0101 | Thursday | 11-12pm | SS 1074 | | | T0901 | Thursday | 12-1pm | SS 2105 | | | T0201 | Thursday | 1-2 pm | SS 1086 | | | T0301 | Thursday | 2-3pm | WO 30 | | | T0401 | Thursday | 3-4pm | WW 120 | | | T0501 | Friday | 9-10am | WO 25 | | | T0601 | Friday | 10-11am | WW119 | | | T0701 | Friday | 11-12pm | WW119 | | | T1101T1001 | FridayFriday | 12-1pm1-2 pm | SS 1088SS 2127 | | Instructorcontact information | Hai Lu (course coordinator), RT530, hai.lu@rotman.utoronto.caGus De Franco, RT537, Gus.Defranco@rotman.utoronto.ca Donna Losell, RT 529, losell@rotman.utoronto.ca Amy Kwan, amyk.kwan@utoronto.caEszter...

Words: 2139 - Pages: 9

Free Essay

Syllabus Ac611

...AC 611: HB3: Financial Accounting Problems I Fall 2015 INSTRUCTOR: Dr. Yannan Shen CLASS: HB3: Thur OFFICE: Location: Phone: Fax: E-mail: Hours: AAC 222 781-891-2652 781-891-2896 yshen@bentley.edu (best way to contact me) Thur 5:00 PM – 6:30 PM, and by appointment 7:30 PM – 9:50 PM SMITH XXX REQUIRED RESOURCES: Intermediate Accounting with Wiley Plus software (15th edition) Kieso, Weygandt, and Warfield, John Wiley & Sons, 2015 Introduction to Financial Accounting, an online tutorial Harvard Business School (HBS) Publishing Students who prefer to have both hard copy and online access could purchase the “wrapped” edition (text plus the Wiley Plus software) at the Bentley bookstore. Students not buying the textbook from the Bookstore should purchase a Wiley Plus access code directly from the publisher. Please note that textbook and software both are required for AC 611. You will continue to use the same textbook for AC 612 as well, and the Wiley Plus access code would be valid for next semester as well. Wiley Plus also contains an etextbook, but you do NOT get a paper copy. Your Wiley Plus url address is http://www.wileyplus.com/class/461237 The Blackboard website of the course contains a variety of course resources like the solutions manual and powerpoints and other course related announcements. You can access the Blackboard site http://blackboard.bentley.edu from any location at any time. AC 611 Syllabus, Page #1 Log...

Words: 3892 - Pages: 16

Premium Essay

Acc 557

...00 p.m. Professor Information: Dr. Jones Olajide E-mail: jones.olajide@strayer.edu Phone: 240-217-0141 Welcome, students! I have the privilege of being your Financial Accounting course instructor for this term. I’m excited about the opportunity to get to know you, and I’m looking forward to a happy and productive summer 2014 Quarter. I will always be available to meet with individual student before or after class on Mondays for mini-conferencing. You can also contact me on my above e-mail or phone number outside the official class hour Monday to Friday. Biographical Information: My professional experience includes working as an Accountant in the Nigeria Foreign Ministry, Abuja – Nigeria from 1984 to 2003, during which I served as Finance Attaché to the Nigerian High Commission, London – UK (1989 – 2003), and Nairobi – Kenya (1998 – 2003). I also worked as an Accountant in the Nigeria Federal Ministry of Agriculture & Rural Development, Abuja – Nigeria (2004 – 2007). During the course of my professional career, I have had opportunities to conduct job training for subordinates and staff, and delivered practical tutoring sessions as per the Nigerian government public service norms. I joined Strayer University as Adjunct Instructor Accounting in March 2012, and as a Full-time faculty since spring 2013 quarter. We hope you have a successful spring semester at Strayer University. I look forward to working with you. PLEASE NOTE: ...

Words: 7627 - Pages: 31

Premium Essay

Gudie

...December, 2012. Contents Using This Volume 1 Introduction to Demand and Supply 1.1 Quiz . . . . . . . . . . . . . . . . . . 1.2 Group Exercise . . . . . . . . . . . . 1.3 Homework Questions . . . . . . . . . 1.4 Homework Solutions . . . . . . . . . 2 Elasticity 2.1 Quiz . . . . . . . . . 2.2 Group Exercise . . . 2.3 Homework Questions 2.4 Homework Solutions iii 1 1 3 4 5 9 9 11 12 13 15 15 17 18 19 25 25 27 28 29 33 33 35 36 37 39 39 41 42 43 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Applications of Demand and Supply 3.1 Quiz . . . . . . . . . . . . . . . . . . 3.2 Group Exercise . . . . . . . . . . . . 3.3 Homework Questions . . . . . . . . . 3.4 Homework Solutions . . . . . . . . . 4 International Trade 4.1 Quiz . . . . . . . . . 4.2 Group Exercise . . . 4.3 Homework Questions 4.4 Homework Solutions 5 Market Failure 5.1 Quiz . . . . . . . . . 5.2 Group...

Words: 15136 - Pages: 61

Premium Essay

Accounting

...Pasadena City College Syllabus - MANAGERIAL ACCOUNTING - ACCT 001B Fall 2015 – 70008 (Revised) Date: Time: Location: September 1 – December 15, 2015 Tuesdays/Thursdays; 7:00am – 9:30am R 307, Building R Instructor: E-mail: Phone: Chee-Sum Tan, MBA, CPA, CFA, ABV, CGMA ctan8@pasadena.edu 626-524-1674 Required Material: Textbook: Accounting: Tools for Business Decision Making (5th Edition); Kimmel, Weygandt, Kieso, Wiley Publishing (WITH “WILEYPLUS”). WILEYPLUS IS REQUIRED Calculator: Basic calculator Supplies: Pen, pencil, 3 scantrons Learning Objective: This course is designed to provide an understanding of managerial accounting information useful to managers responsible for conducting business operations and decision making. Upon the successful completion of this course, students must be able to measure, analyze and report managerial accounting information for the purpose of planning, budgeting and control. Students are also required to have a solid understanding and working knowledge of the concepts and principles of managerial accounting.  Learn operational processes like job order costing, process costing and activity-based costing concept  Perform cost-volume-profit analysis, relevant costing, capital budgeting for profitability and decision making  Understand performance reports and budgets for planning and control purposes  Demonstrate mastery of managerial accounting concepts and principles through satisfactorily completing assigned...

Words: 984 - Pages: 4

Premium Essay

Dsfsfs

...MGT 202 – Section 002 Financial Management Instructor: Professor Y. Peter Chung Quarter: Spring 2014 Office: AH 146 Lecture time: TTH 5:10-6:30 p.m. Phone: (951) 827-3906 Classroom: ANDHL 118 Fax: (951) 827-3970 Course Website: http://ilearn.ucr.edu/ E-mail: peter.chung@ucr.edu Office Hours: TTH 10:30-11:00 am (UG and MBA) 3:00-3:30 pm (UG and MBA) 6:30-7:00 pm (MBA only) SoBA Mission Statement Our mission is to develop diverse leaders, propel research-based innovation and promote the sustainable growth of Inland Southern California within the global economy. We harness the powerful resources of UC and our location at the nexus of commerce to create a laboratory for education, research, and productive partnerships across economic enterprises. The strategic activities that propel our mission include: * Conducting basic and applied research in management that explores and informs the creation, development and management of growth; * Providing degree programs that prepare our students to be effective managers and responsible community leaders with a deep understanding of the dynamics of growth in both a regional and global context;  Partnering with business and community leaders through a shared commitment to exemplary growth; and  Delivering educational programs to executives and the public at...

Words: 1694 - Pages: 7

Free Essay

Bbbb

...CHAPTER 5 SUMMARY OF FINDINGS, CONSLUSION AND RECOMMENDATIONS Passing Board Examinations and being licensed professionals have been a world-wide trend for uplifting the livelihood status of a person, and more importantly, the economic status of the country the person lives in. This chapter presents the summary of the findings, so conclusions drawn form the findings and the corresponding recommendations. This study was taken with the general objective of identifying the major factors that affect the mastery skills of the fourth year, Bachelor of Science in Accountancy students in Jose Rizal University for the School Year, 2011-2012. Specifically, this study sought to answer the following questions: 1. How does cheating affect the mastery skills of the senior students? 2. Why do personal problems affect the mastery skills of the senior students? 3. What are the implications of the absence of comprehensive examination in the training of the students for the different accounting subjects? 4. Why does the University’s BSA Program System affect the learning habits of their students? 5. Why does the natural complexity of the accounting course, combined with poor study habits, pose a problem towards the mastery of the students? Summary of Findings: 1. Effect of Cheating on the mastery skills of the College students: 2.1. Nine out of ten college students admit to copying someone else's homework; two-thirds say they have cheated on exams ...

Words: 1136 - Pages: 5

Free Essay

International Finance

...3/25/2016 Online Course Syllabus   WALSH ONLINE COURSE SYLLABUS COURSE: FIN 512 International Economics and Finance  INSTRUCTOR: Michael A. Rinkus OFFICE HOURS: By appointment. PHONE (Cell): 313­268­0721call or text EMAIL ADDRESS: mrinkus@online.walshcollege.edu COURSE DESCRIPTION: This is an advanced course that focuses on the increased globalization of the world economy. Students examine how multinational corporations mitigate risk from foreign exchange movement, political and sovereign risk, cross border payment repatriation, balance sheet risk as well as, international trade policies such as trade blocs, protectionism, international debtors, cultural preferences, dumping, central banks, demographics. Students will learn to identify the impact of the N11 and BRIC countries on global business strategies in addition to the impact of foreign exchange rates, balance of payments, multinational enterprises, and direct foreign investment. Financing techniques of multinational companies will be introduced and applied; also the impact of new global regulations such as the Basel agreements and their impact on the cost of cross border financing and the challenges presented by international monetary arrangements are also analyzed to increase the ability to successfully interact in the world. PREREQUISITES: ECN 503 or MBA 503 COURSE MATERIALS:  TEXTBOOK(S): Title: International Finance Author: Maurice D. Levi Publisher: Routledge Fifth Edition  ...

Words: 4109 - Pages: 17

Premium Essay

Accounting Information System

...ACT 564 Homework Problem 1.1 Information technology is continually changing the nature of accounting and the role of accountants. Write a two-page report describing what you think the nature of the accounting function and accounting information system in a large company will be like in the year 2020. When thinking about the future of accounting and the accounting function and accounting information system, it is hard to imagine what it will be like in the future. We have come so far in such a little time technology wise. The year 2020 isn’t that far off into the future if you actually think about it and so much is bound to change! Though as a side note, if I started thinking about the Mayan calendar and how they believe the world will end on December 21, 2012. If this is true, will there even be the year 2020 to look forward to? I can remember my cousin, who is an accountant, doing all her work on paper and in a book. She always stayed late to make sure she wouldn’t get behind on her work. Now ten years later ninety percent of her work is all on the computer. Not only does this save her time but it can also make things easier when automated. In the next eight years, I believe that ninety-eight percent will all be done on the computer. The only thing that will need to be hands on or on paper will be backup copies in case something happens to the computer database. I expect large companies will only need maybe two accountants once everything is almost automatic...

Words: 1663 - Pages: 7

Premium Essay

Finance

...FIN 3010 – Chapters 1-3 Homework ______________________________________________________________________________ Chapter 1: Questions: 7. What are the significant financial advantages and disadvantages of the sole proprietorship/ partnership form in comparison with the corporate form? 1 ) The profits are shared only by sole proprietor or in between the partners , while in corporate form the profits are searched with the number of shareholders that the company holds. 2) In sole proprietor and partnership the level of investments are not that large so the amount can easily be built through profits. 3) Sole proprietorships and partnerships cost less to establish while corporate forms have hugh legality that costs. 4) Sole proprietors and partners are not liable for unemployment insurance while a corporation is required to pay unemployment insurance taxes on his or her salary Disadvantages : 1) A corporation has many avenues to raise capital. It can sell shares of stock and create new types of stock, such as preferred stock. Loans are easily provided to corporation then Sole proprietor and Partnership businesses. 2) Ownership interests in a corporation may be sold to third parties without disturbing the continued operation of the business. A sole proprietorship or partnership, on the other hand, cannot be sold whole. Instead, each of its assets, licenses and permits must be individually transferred. 3) Due to large business transactions...

Words: 2132 - Pages: 9

Free Essay

Syllabus

...FIN 535 – International Finance COURSE DESCRIPTION Presents international financial tools, applications, and concepts used in formulating effective financial management strategies. Examines fundamental international financial relationships and transactions among firms, foreign exchange rate determination and forecasting, foreign exchange risk and exposure, balance of payment accounting, and evolution of the international monetary system. Analyzes special topics such as working capital management strategies, capital budgeting, cost of capital, and optimal capital structure in the context of international operations. INSTRUCTIONAL MATERIALS Required Resources Madura, J. (2012). International financial management (11th ed.). Mason, OH: South-Western, Cengage Learning. Supplemental Resources Al Nasser, O.M. (2010). How does foreign direct investment affect economic growth? The role of local conditions. Latin American Business Review 11, 111-139. Kornecki, L. & E. M. Ekanayake. (2011). Inward FDI stock in the U.S. economy and state based determinants. Advances in Management, 4(6), 13-24. Ranjan, V. & Agrawal, G. (2011). FDI inflow determinants in BRIC countries: A panel data analysis. International Business Research, 4(4), 255-263. United Nations. (2011). Foreign Direct Investments in LDCs: Lessons learned from the decade 20012010 and the way forward. United National Conference on Trade and Development. COURSE LEARNING OUTCOMES 1. Compare multinational financial management...

Words: 4298 - Pages: 18

Premium Essay

Acct5910

...Australian School of Business ACCT5910 Business Analysis and Valuation Class 1: Introduction Lecturers • Peter VASSALLO – (Lecturer in Charge) – Office: Quad 3101 Tel: 9385 5840 – Email: p.vassallo@unsw.edu.au – Consultation Hour: Tue 2 – 4 pm Australian School of Business • Jeff COULTON – Office: Quad 3061 Tel: – Email: j.coulton@unsw.edu.au – Consultation Hour: Wed 3 – 5 pm 9385 5811 Focus of Acct5910 Australian School of Business Fundamental Analysis and Value 3 Success: Warren Buffett Australian School of Business Warren Buffett Australian School of Business • Born on August 30, 1930 • The richest person in the world 2008 with $62 billion, and the third richest in 2010 with 47 billion • Lives in the same house in the central Omaha that he bought in 1958 for $31,500 and today, it is valued at around $700,000 • Largest shareholder and CEO of Berkshire Hathaway • Recent News: – Invested aggressively during the current crisis – Lost $25 billion in 2008-2009 – Called for more income tax for rich Americans (but not necessarily investment tax) Warren Buffett Australian School of Business • Newspaper delivery boy at age of 13 • First investment in pinball machine at age of 15 • Graduated from Columbia and worked as an security analyst for 2 years • Started an investment partnership with $100 at age of 26; 13 years later, he cashed out with $25 million • Controlled Berkshire Hathaway and transformed it into an investment vehicle ...

Words: 1872 - Pages: 8