ACCT 557

ACCT 557 WEEK 4 This week we will cover accounting for leases. See the Assignments area to get a jump on some of the problems we will be concentrating on in this thread.) Before starting to do problems together, what are the disclosures that lessees and lessors are required to make for future lease payments? Let’s start with BE 21-2 and BE 21-5.

5 Other / Other strayer university / ACCT 557 23 Nov 2015

ACCT 557 WEEK 4 What would be the advantages and disadvantages of leasing assets instead of owning them? How would the financial statements be different in a leasing situation (for both operating leases and capital leases) for the lessee? What about the lessor (including all the types)? What disclosures should be made by lessees and lessors related to future lease payments?

5 Other / Other strayer university / ACCT 557 23 Nov 2015

ACCT 557 WEEK 3 Workout Room Application graded This week we will cover accounting for pension plans and other post-retirement benefits (such as life insurance for retirees.) See the Assignments area to get a jump on some of the problems we’ll be concentrating on in this thread. Before starting to do problems together, what are the standard components in determining pension expenses on the financial statements? Let’s start with BE

5 Other / Other strayer university / ACCT 557 23 Nov 2015

ACCT 557 WEEK 3 Accounting for Post Retirement Benefits graded The two main types of pension plans are defined benefit plans and defined contribution plans. Explain the difference between the two. How does the accounting for each differ? With defined benefit plans, there are several levels of benefit obligations for the company. List these and describe what each represents. Which does GAAP require with recognition and why? This section l

5 Other / Other strayer university / ACCT 557 23 Nov 2015

ACCT 557 WEEK 2 Question 5. Question (TCO B) In its first four years of operations ending December 31, Year 4, Alder, Inc.'s depreciation for income tax purposes exceeded its depreciation for financial statement purposes. This temporary difference was expected to reverse in Year 5, Year 6, and Year 7. Alder had no other temporary difference. Under U.S. GAAP, Alder's Year 4 balance sheet should include: Question 4. Question : (TCO B) Fo

7 Other / Other strayer university / ACCT 557 23 Nov 2015

ACCT 557 WEEK 2 Accounting for Income Taxes graded Let’s start with the basics: What is the difference between pretax financial income and taxable income? Explain the meaning of temporary and permanent differences. Give at least two unique examples of each (please do not repeat what other students have posted).

5 Other / Other strayer university / ACCT 557 23 Nov 2015

ACCT 557 WEEK 1 Grade Details All Questions Question 1. Question TCO A Platypus Building Inc. won a bid for a new office building contract. Below is info from the project accountant: Total Construction Fixed Price $8,000,000 Construction Start Date March 3, 2012 Construction Complete Date December 4, 2013 As of Dec 31…

10 Other / Other strayer university / ACCT 557 23 Nov 2015

ACCT 557 Week 1 to 8 Homework Quiz Final Exam Week 1 Homework Week 1 Quiz Week 2 Homework, Chapter 19 Week 2 Quiz Week 3 Homework Week 3 Quiz (03 Sets) Week 4 Homework Week 4 Quiz (02 Sets) Week 5 Homework, Chapter 22 Week 5 Quiz (02 sets) Week 6 Homework Week 6 Quiz Week 7 Homework, Chapter 24 Week 7 Quiz Week 8 Final Exam

70 Other / Other strayer university / ACCT 557 19 Oct 2015

ACCT 557 Final Exam

30 Other / Other strayer university / ACCT 557 19 Oct 2015

ACCT 557 WEEK 1 Problem 1 You are the Senior Accountant for the Patty Corporation, which has several divisions. They each keep their own accounting books and have chosen the appropriate method of revenue recognition based on their operations. Pat's Electronics Division Pat's Electronics Division sells computers through agents in various cities. Agents send orders and down payments to our company. The division then ships the go

10 Other / Other strayer university / ACCT 557 24 Nov 2015