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ACC 545 Entire Course FOR MORE CLASSES VISIT www.acc545expert.com ACC 545 Week 1 Individual Assignment CPA Report ACC 545 Week 2 Learning Team Assignment Los Lobos Ledger Preparation ACC 545 Week 3 Individual Assignment Jamona Corp. Scenario ACC 545 Week 4 Individual Assignment Restructuring Debt ACC 545 Week 5 Individual Assignment Lee Corporation Equity Scenario ACC 545 Week 6 Learning Team Assignment Consolidated Financial Statements ************************************************* ACC 545 Week 1 Individual Assignment CPA Report FOR MORE CLASSES VISIT www.acc545expert.com As the CPA for a large organization, you were asked by your manager to provide information to outside CPAs who are examining a subsidiary that has been set up as a corporation. As part of their review, the CPAs have asked you to provide them with the following explanations: 

The methodology used to determine deferred taxes

The procedures for reporting accounting changes and error corrections

The rationale behind establishing the subsidiary as a corporation

Prepare your response to the three questions. Before submitting your response, your manager would like to know a little bit more about the request. She has asked you to tell her what your professional responsibilities are as a CPA, and the difference between a review and an audit. You should provide draft responses to the above questions as well as providing your manager with a summary of your responsibilities in one document (no more than 1,050 words).

************************************************* ACC 545 Week 2 Learning Team Assignment Los Lobos Ledger Preparation FOR MORE CLASSES VISIT


www.acc545expert.com ACC 545 Week 2 Learning Team Assignment Los Lobos Ledger Preparation

************************************************* ACC 545 Week 3 Individual Assignment Jamona Corp. Scenario FOR MORE CLASSES VISIT www.acc545expert.com 

Review the following information:

On January 1, 2006, Jamona Corp. purchased 12% bonds, having a maturity value of $300,000, for $322,744.44. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2006, and mature January 1, 2011, with interest receivable December 31 of each year. The company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified as available-for-sale. The fair value of the bonds at December 31 of each year is as follows:

2006 – $320,500

2007 – $309,000

2008 – $308,000

2009 – $310,000

2010 – $300,000

The following information is available from Jamona’s inventory records Units Unit Cost January 1, 2007 (beginning inventory) $ 8.00 Purchases: January 5, 2007 9.00 January 25, 2007 10.00

600

1,200 1,300


February 16, 2007 800 11.00 March 26, 2007 600 12.00 A physical inventory on March 31, 2007, shows 1,600 units on hand. Select any one of the inventory methods (LIFO, FIFO, Average Cost, or others). ************************************************* ACC 545 Week 4 Individual Assignment Restructuring Debt FOR MORE CLASSES VISIT www.acc545expert.com Your company is in financial trouble and is in the process of reorganization. Your manager wants to know how you will report on restructuring the debt. Use the following information to help with this assignment.

************************************************* ACC 545 Week 5 Individual Assignment Lee Corporation Equity Scenario FOR MORE CLASSES VISIT www.acc545expert.com ACC 545 Week 5 Individual Assignment Lee Corporation Equity Scenario  Review the following information:

Lee Corporation, a U.S. company, began operations on January 1, 2004. During its first 3 years of operations, Lee reported net income and declared dividends as follows. Net income 2004 2005 2006

Dividends declared $ 40,000 125,000 160,000

$ –0– 50,000 50,000

The following information relates to 2007: Income before income tax $240,000 Prior period adjustment: understatement of 2005 depreciation expense (before taxes) $ 25,000 Cumulative decrease in income from change in inventory methods (before taxes) $ 35,000 Dividends declared (of this amount, $25,000 will be paid on January 15, 2008)


$100,000 Effective tax rate 40%

************************************************* ACC 545 Week 6 Learning Team Assignment Consolidated Financial Statements FOR MORE CLASSES VISIT www.acc545expert.com Complete exercise 3-14, parts A, B, and C, on p. 127 of Advanced Accounting (Crain Mechanics/Downey Enterprises).


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