ACC557 FINANCIAL ACCOUNTING ACC/557

ACC 557 Midterm Part 1 - Graded 100% Latest Version N Course Financial Accounting Test Midterm Exam Part 1 (75 points) Question 1 3 out of 3 points   What is the order in which assets are generally listed on a classified balance sheet? Selected Answer: Current; long-term investments; property, plant, and equipment; intangible assets Correct Answer: Current; long-term investments; property, plant, and equipment; intangible assets Question 2 3 out of 3 points   The in...

ACC 557 Week 3, Quiz - Graded 100% Latest V 1. Transactions in a journal are recorded in A). alphabetical order. B). dollar amount order. C). chronological order. D). account number order. 2. In the first month of operations, the total of the debit entries to the cash account amounted to $900 and the total of the credit entries to the cash account amounted to $600. The cash account has a(n) A). $300 credit balance. B). $900 debit balance. C). $600 credit balance. D). $300 debit balance...

ACC 557 Week 5, Quiz - Graded 100% Latest V 1. Cost of goods sold is determined only at the end of the accounting period in A). neither a perpetual nor a periodic inventory system. B). a perpetual inventory system. C). a periodic inventory system. D). both a perpetual and a periodic inventory system 2. A sales invoice is a source document that A). provides evidence of incurred operating expenses. B). provides evidence of credit sales. C). serves only as a customer receipt. D). provides...

ACC 557 Week 6, DQ 1 and Week 6, DQ 1: "Information Protection and Privacy" Please respond to the following: Based on the e-Activity, evaluate the circumstances that contributed to the privacy violation, the consequence to the company to the breach, and management’s response to the breach, indicating the appropriateness of the response. Suggest how the company may have presented the breach and / or responded differently once the breach was discovered. Provide support for your rationale. ...

ACC 557 Week 6, Quiz - Graded 100% Latest V 1. A bank statement A). is a bill from the bank for services rendered. B). is a credit reference letter written by the depositor's bank. C). shows the activity which increased or decreased the depositor's account balance. D). lets a depositor know the financial position of the bank as of a certain date. 2. The principles of internal control activities are used in the A). internationally but not in the U.S. B). in the U.S. and Canada but not g...

ACC 557 Week 10 Assignment 3 You Are an Investment A ACC 557 WK 10 Assignment 3 - You Are an Investment Analyst As the representative from your accounting firm or practice, you are in charge of stock market analysis that will be presented to clients as part of professional consultation process. One of your high-profile clients is trying to determine the possible investment potential between two companies. However, before you can recommend investments to clients, you need to familiarize yourse...

ACC 557 Week 7, DQ 1 and Week 7 DQ 1: "Effects of a Merger" Please respond to the following: Based on the company you researched in the e-Activity, assess the key drivers of the merger. Indicate how the merger will most likely create more value for the company stakeholders, indicating whether or not you believe the value will be realized. Provide support for your rationale. Assess the accounting complexities related to mergers and acquisition, indicating how management accounted for these c...

ACC 557 Week 7 Quiz - Graded 100% Latest V 1. A company has the following assets: Buildings and Equipment, less accumulated depreciation of $2,000,000 $ 7,600,000 Copyrights 960,000 Patents 4,000,000 Timberlands, less accumulated depletion of $2,800,000 4,800,000 The total amount reported under Property, Plant, and Equipment would be A). $16,400,000. B). $13,360,000. C). $12,400,000. D). $17,360,000. 2. Expenditures that maintain the operating efficiency and expected productive life o...

ACC 557 Week 8 DQ 1 and Week 8, DQ 1: "Venture Capital" Please respond to the following: Based on your research conducted in the e-Activity, evaluate the business decision to use a venture capitalist to raise funds, indicating whether or not you believe the company will benefit from this decision in the long run. Provide support for your position.  Assess the challenges for businesses using the resources of a venture capitalist, given that significant returns on the investment are likely to...

ACC 557 Assignment 4 Long-Term Investment D