Category Archives: ACC 423

ACC 423 Week 1 Coca-Cola and PepsiCo Presentation recent

ACC 423 Week 1 Coca-Cola and PepsiCo Presentation recent

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Create a 10- to 12-slide presentation that addresses each question within the Comparative Analysis Case, pp. 824-825.

Click the Assignment Files tab to submit your assignment.
 
The Coca-Cola Company and PepsiCo, Inc. The financial statements of Coca-Cola and PepsiCo are presented in Appendices C and D, respectively. The companies’ complete annual reports, including the notes to the financial statements, are available online. Instructions Use the companies’ financial information to answer the following questions.
(a) What is the par or stated value of Coca-Cola’s and PepsiCo’s common or capital stock? 
(b) What percentage of authorized shares was issued by Coca-Cola at December 31, 2014, and by PepsiCo at December 31, 2014? 
(c) How many shares are held as treasury stock by Coca-Cola at December 31, 2014, and by PepsiCo at December 31, 2014? 
(d) How many Coca-Cola common shares are outstanding at December 31, 2014? How many PepsiCo shares of capital stock are outstanding at December 31, 2014?
(e) What amounts of cash dividends per share were declared by Coca-Cola and PepsiCo in 2014? What were the dollar amount effects of the cash dividends on each company’s stockholders’ equity? 
(f) What are Coca-Cola’s and PepsiCo’s return on common/capital stockholders’ equity for 2014 and 2013? Which company gets the higher return on the equity of its shareholders? 
(g) What are Coca-Cola’s and PepsiCo’s payout ratios for 2014? (h)What was the market price range (high/low) for Coca-Cola’s common stock and PepsiCo’s capital stock during the fourth quarter of 2014? Which company’s (Coca-Cola’s or PepsiCo’s) stock price increased more (%) during 2014?

 

ACC 423 Week 1 DQ 1

ACC 423 Week 1 DQ 1

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 Why do companies offer stock options?  What is the experience of either your organization or an organization that you are familiar with when it comes to stock option compensation?  Should stock option compensation be included as an expense when calculating an organization’s net income?  Explain why or why not. If so, how should the amount of expense be calculated?

 

ACC 423 Week 1 DQ 2

ACC 423 Week 1 DQ 2

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 What are the differences between basic and diluted earnings per share?  What are the differences between the numerator and the denominator in the basic and diluted earnings per share calculations?  What actions can an organization take in order to improve their earnings per share?  What is the experience of either your organization or an organization that you are familiar with when it comes to any of these actions?  As an investor, do you evaluate a company as a potential investment using basic or diluted earnings per share? Explain why.

 

ACC 423 Week 1 Wileyplus With Excel File New Syllabus

ACC 423 Week 1 Wileyplus With Excel File New Syllabus

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This Tutorial contains Excel File which can be used for any change in values

• Brief Exercise 15-9

• Brief Exercise 15-12
• Exercise 15-6
• Exercise 15-7
• Exercise 15-10
• Exercise 15-12
• Exercise 15-17
• Exercise 15-21
• Brief Exercise 16-11
• Exercise 16-4
• Exercise 16-10
• Exercise 16-14
• Exercise 16-18
• Exercise 16-24

Brief Exercise 15-9
Oriole Corporation has outstanding 22,000 shares of $5 par value common stock. On August 1, 2017, Oriole reacquired 190 shares at $82 per share. On November 1, Oriole reissued the 190 shares at $71 per share. Oriole had no previous treasury stock transactions.

Prepare Oriole’s journal entries to record these transactions using the cost method.

Brief Exercise 15-12
Swifty Mining Company declared, on April 20, a dividend of $442,000 payable on June 1. Of this amount, $108,000 is a return of capital.

Prepare the April 20 and June 1 entries for Swifty. Ex 15-10

Exercise 15-6
Whispering Corporation is authorized to issue 49,000 shares of $5 par value common stock. During 2017, Whispering took part in the following selected transactions.
1. Issued 4,900 shares of stock at $42 per share, less costs related to the issuance of the stock totaling $7,400.
2. Issued 1,200 shares of stock for land appraised at $49,000. The stock was actively traded on a national stock exchange at approximately $43 per share on the date of issuance.
3. Purchased 520 shares of treasury stock at $42 per share. The treasury shares purchased were issued in 2013 at $39 per share.

(a) Prepare the journal entry to record item 1.
(b) Prepare the journal entry to record item 2.
(c) Prepare the journal entry to record item 3 using the cost method.

Exercise 15-7

Joe Dumars Company has outstanding 40,000 shares of $5 par common stock which had been issued at $30 per share. Joe Dumars then entered into the following transactions.
1. Purchased 5,000 treasury shares at $45 per share.
2. Resold 2,000 of the treasury shares at $49 per share.
3. Resold 500 of the treasury shares at $40 per share.

Indicate the effect each of the three transactions has on the financial statement categories listed in the table below, assuming Joe Dumars Company uses the cost method.

For a recent 2-year period, the balance sheet of Flint Company showed the following stockholders’ equity data at December 31 (in millions).
Exercise 15-12
Kingbird Corporation has 11.50 million shares of common stock issued and outstanding. On June 1, the board of directors voted an 79 cents per share cash dividend to stockholders of record as of June 14, payable June 30.

Prepare the journal entries for each of the dates above assuming the dividend represents a distribution of earnings.

Exercise 15-17
Carla Corporation’s post-closing trial balance at December 31, 2017, is shown as follows.

The dividends on preferred stock are $4 cumulative. In addition, the preferred stock has a preference in liquidation of $50 per share.

Prepare the stockholders’ equity section of Carla’s balance sheet at December 31, 2017.

Exercise 15-21
The outstanding capital stock of Windsor Corporation consists of 2,000 shares of $100 par value, 8% preferred, and 4,900 shares of $50 par value common.

Assuming that the company has retained earnings of $92,500, all of which is to be paid out in dividends, and that preferred dividends were not paid during the 2 years preceding the current year, state how much each class of stock should receive under each of the following conditions.

(a) The preferred stock is noncumulative and nonparticipating.
(b) The preferred stock is cumulative and nonparticipating.
(c) The preferred stock is cumulative and participating.

Brief Exercise 16-11
Cullumber Corporation had 318,000 shares of common stock outstanding on January 1, 2017. On May 1, Cullumber issued 31,500 shares.

(a) Compute the weighted-average number of shares outstanding if the 31,500 shares were issued for cash.
Weighted-average number of shares outstanding

(b) Compute the weighted-average number of shares outstanding if the 31,500 shares were issued in a stock dividend.
Weighted-average number of shares outstanding $

Exercise 16-4
On January 1, 2016, when its $30 par value common stock was selling for $80 per share, Indigo Corp. issued $11,100,000 of 8% convertible debentures due in 20 years. The conversion option allowed the holder of each $1,000 bond to convert the bond into five shares of the corporation’s common stock. The debentures were issued for $11,988,000. The present value of the bond payments at the time of issuance was $9,435,000, and the corporation believes the difference between the present value and the amount paid is attributable to the conversion feature. On January 1, 2017, the corporation’s $30 par value common stock was split 2 for 1, and the conversion rate for the bonds was adjusted accordingly. On January 1, 2018, when the corporation’s $15 par value common stock was selling for $135 per share, holders of 30% of the convertible debentures exercised their conversion options. The corporation uses the straight-line method for amortizing any bond discounts or premiums.

(a) Prepare the entry to record the original issuance of the convertible debentures.

Exercise 16-10
On November 1, 2017, Larkspur Company adopted a stock-option plan that granted options to key executives to purchase 28,500 shares of the company’s $10 par value common stock. The options were granted on January 2, 2018, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $30, and the fair value option-pricing model determines the total compensation expense to be $427,500.

All of the options were exercised during the year 2020: 19,000 on January 3 when the market price was $67, and 9,500 on May 1 when the market price was $77 a share.

Prepare journal entries relating to the stock option plan for the years 2018, 2019, and 2020. Assume that the employee performs services equally in 2018 and 2019.

Exercise 16-14
Coronado Company issues 9,700 shares of restricted stock to its CFO, Mary Tokar, on January 1, 2017. The stock has a fair value of $485,000 on this date. The service period related to this restricted stock is 5 years. Vesting occurs if Tokar stays with the company until December 31, 2021. The par value of the stock is $10. At December 31, 2017, the fair value of the stock is $379,000.

(a) Prepare the journal entries to record the restricted stock on January 1, 2017 (the date of grant), and December 31, 2018.
(b) On July 25, 2021, Tokar leaves the company. Prepare the journal entry to account for this forfeiture.

Exercise 16-18
Pearl Inc. presented the following data.
Net income $2,550,000
Preferred stock: 51,000 shares outstanding, $100 par, 8% cumulative, not convertible 5,100,000
Common stock: Shares outstanding 1/1 816,000
Issued for cash, 5/1 318,000
Acquired treasury stock for cash, 8/1 162,000
2-for-1 stock split, 10/1

Exercise 16-24
The Concord Corporation issued 10-year, $4,890,000 par, 7% callable convertible subordinated debentures on January 2, 2017. The bonds have a par value of $1,000, with interest payable annually. The current conversion ratio is 14:1, and in 2 years it will increase to 16:1. At the date of issue, the bonds were sold at 96. Bond discount is amortized on a straight-line basis. Concord’s effective tax was 35%. Net income in 2017 was $8,550,000, and the company had 1,980,000 shares outstanding during the entire year.

(a) Compute both basic and diluted earnings per share.

Week 2
Brief Exercise 116
On April 1, 2018, West Company purchased $472,000 of 6.50% bonds for $490,630 plus accrued interest as an available-for-sale security. Interest is paid on July 1 and January 1 and the bonds mature on July 1, 2023.

Prepare the journal entry on April 1, 2018.

Exercise 121
Fill in the dollar changes caused in the Investment account and Dividend Revenue or Investment Revenue account by each of the following transactions, assuming Crane Company uses (a) the fair value method and (b) the equity method for accounting for its investments in Hudson Company.
1. At the beginning of Year 1, Crane bought 25% of Hudson’s common stock at its book value. Total book value of all Hudson’s common stock was $750,000 on this date.
2. During Year 1, Hudson reported $69,000 of net income and paid $34,500 of dividends.
3. During Year 2, Hudson reported $29,000 of net income and paid $19,000 of dividends.
4. During Year 3, Hudson reported a net loss of $9,000 and paid $4,000 of dividends.
5. Indicate the Year 3 ending balance in the Investment account, and cumulative totals for Years 1, 2, and 3 for dividend revenue and investment revenue.

 

ACC 423 Week 2 DQ 1

ACC 423 Week 2 DQ 1

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 What are the differences between traditional and derivative instruments? Why do companies use derivative instruments? Explain whether or not derivatives are a good investment.  What experience do you have with either traditional or derivative instruments in your organization or an organization that you are familiar with?

 

ACC 423 Week 2 DQ 2

ACC 423 Week 2 DQ 2

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 Why do companies make investments in other companies? What are the differences between debt and equity investments? What is the experience of either your organization or an organization that you are familiar with when it comes to debt and/or equity investments? What would influence a company to choose equity or debt as an investment?

 

ACC 423 Week 2 Signature Assignment Codification Research Paper (2 Papers) recent

ACC 423 Week 2 Signature Assignment Codification Research Paper (2 Papers) recent

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 This Tutorial contains 2 Papers

 
What is a Signature Assignment?
A signature assignment is designed to align with specific program student learning outcome(s) for a program. Program Student Learning Outcomes are broad statements that describe what students should know and be able to do upon completion of their degree. The signature assignments are graded with an automated rubric that allows the University to collect data that can be aggregated across a location or college/school and used for program improvements. 
Resource: FASB Codification Link.
Write a 700- to 1,050-word paper.
Your client, Cascade Company, is planning to invest some of its excess cash in 5-year revenue bonds issued by the county and in the stock of one of its suppliers, Teton Co. Teton’s shares trade on the over-the-counter market. The company would like you to conduct some research on the accounting for these investments.
Instructions:
Access the FASB Codification.
Once you login using the username and password provided from the link above “login instructions” click on Education (from the menu across the top) > select FASB & GARS > click on FASB User Login and use the same credentials given for the initial login page.  That will get you to the FASB Accounting Standards Codification (professional view) page.
Review the log-in instructions.
Provide Codification references for your responses below.
Incorporate your review of the FASB link to determine when the fair value of a security “readily determinable”.
Since the Teton shares do not trade on one of the large stock markets, Cascade argues that the fair value of this investment is not readily available.
Describe how an impairment of a security is accounted for.
Determine how close to maturity Cascade could sell an investment and still classify it as held-to-maturity.
To avoid volatility in their financial statements due to fair value adjustments, Cascade debated whether the bond investment could be classified as held-to-maturity; Cascade is pretty sure it will hold the bonds for five years.
List disclosures that must be made for any sale or transfer from securities classified as held-to-maturity.
Format your paper consistent with APA standards.
Submit your assignment to the Assignment Files tab.
 
Assignment Deliverables Summary:
 
1. How can the shares investment in Teton Inc. fair value be determined according to GAAP, provide FASB codification reference?
2. How should the bond investment in a County Government be classified if Cascade Company does not plan to hold the bond to its maturity? can the management change its intention in later years?
3. Under what condition and factors for an equity investment to be considered as “impaired”, provide FASB codification reference?
4. What are the disclosure requirements for reclassification of sale or transfer of security from one category to another?

 

ACC 423 Week 2 WileyPlus Assignment recent (With Excel File)

ACC 423 Week 2 WileyPlus Assignment recent (With Excel File)

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 Complete the following in WileyPLUS:

• Brief Exercise 116
• Exercise 121
• Exercise 122
• Exercise 123
• Brief Exercise 17-2
• Brief Exercise 17-5
• Brief Exercise 17-7
• Brief Exercise 17-11
• Brief Exercise 17-13
• Exercise 17-3
• Exercise 17-9
• Exercise 17-12
• Exercise 17-18
• Exercise 17-27
 
Brief Exercise 116
On April 1, 2018, West Company purchased $472,000 of 6.50% bonds for $490,630 plus accrued interest as an available-for-sale security. Interest is paid on July 1 and January 1 and the bonds mature on July 1, 2023.
Prepare the journal entry on April 1, 2018.
The bonds are sold on November 1, 2019 at 103 plus accrued interest. Amortization was recorded when interest was received by the straight-line method. Prepare all entries required to properly record the sale
 
 
Exercise 121
Fill in the dollar changes caused in the Investment account and Dividend Revenue or Investment Revenue account by each of the following transactions, assuming Crane Company uses (a) the fair value method and (b) the equity method for accounting for its investments in Hudson Company.
At the beginning of Year 1, Crane bought 25% of Hudson’s common stock at its book value. Total book value of all Hudson’s common stock was $750,000 on this date.
 
During Year 1, Hudson reported $69,000 of net income and paid $34,500 of dividends.
 
During Year 2, Hudson reported $29,000 of net income and paid $19,000 of dividends.
 
During Year 3, Hudson reported a net loss of $9,000 and paid $4,000 of dividends.
 
Indicate the Year 3 ending balance in the Investment account, and cumulative totals for Years 1, 2, and 3 for dividend revenue and investment revenue. 
 
 
Exercise 122 (Part Level Submission)
The following information is available for Irwin Company for 2018:
Net Income $117,000
Realized gain on sale of available-for-sale debt securities 11,000
Unrealized holding gain arising during the period on available-for-sale debt securities 34,000
Reclassification adjustment for gains included in net income 7,500
 
 
a) Determine other comprehensive income for 2018.
b) Compute comprehensive income for 2018.
 
 
 
Exercise 123
On January 2, 2018, Tylor Company issued a 4-year, $550,000 note at 8% fixed interest, interest payable semiannually. Tylor now wants to change the note to a variable rate note. As a result, on January 2, 2018, Tylor Company enters into an interest rate swap where it agrees to receive 8% fixed and pay LIBOR of 5.7% for the first 6 months on $550,000. At each 6-month period, the variable interest rate will be reset. The variable rate is reset to 6.6% on June 30, 2018.
 
 
Brief Exercise 17-2
Blossom Company purchased, on January 1, 2017, as an available-for-sale security, $82,000 of the 11%, 5-year bonds of Chester Corporation for $76,231, which provides an 13% return.
 
Prepare Blossom’s journal entries for (a) the purchase of the investment, (b) the receipt of annual interest and discount amortization, and (c) the year-end fair value adjustment. (Assume a zero balance in the Fair Value Adjustment account.) The bonds have a year-end fair value of $77,900.
 
Brief Exercise 17-5
Tamarisk Corporation purchased 360 shares of Sherman Inc. common stock for $10,800 (Tamarisk does not have significant influence). During the year, Sherman paid a cash dividend of $3.50 per share. At year-end, Sherman stock was selling for $32.50 per share.
 
Prepare Tamarisk’ journal entries to record (a) the purchase of the investment, (b) the dividends received, and (c) the fair value adjustment. (Assume a zero balance in the Fair Value Adjustment account.)
Brief Exercise 17-7
Bonita Corporation purchased for $285,000 a 25% interest in Murphy, Inc. This investment enables Bonita to exert significant influence over Murphy. During the year, Murphy earned net income of $185,000 and paid dividends of $54,000.
 
Prepare Bonita’s journal entries related to this investment.
 
 
Brief Exercise 17-11
Monty Company invests $10,600,000 in 5% fixed rate corporate bonds on January 1, 2017. All the bonds are classified as available-for-sale and are purchased at par. At year-end, market interest rates have declined, and the fair value of the bonds is now $11,253,000. Interest is paid on January 1.
 
Prepare journal entries for Monty Company to (a) record the transactions related to these bonds in 2017, assuming Monty does not elect the fair option; and (b) record the transactions related to these bonds in 2017, assuming that Monty Company elects the fair value option to account for these bonds. 
 
 
 
Exercise 17-3 (Part Level Submission)
On January 1, 2017, Bramble Company purchased 10% bonds having a maturity value of $340,000, for $367,149.34. The bonds provide the bondholders with a 8% yield. They are dated January 1, 2017, and mature January 1, 2022, with interest receivable January 1 of each year. Bramble Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category.
 
a) Prepare the journal entry at the date of the bond purchase.
b) Prepare a bond amortization schedule
c) Prepare the journal entry to record the interest revenue and the amortization at December 31, 2017.
d) Prepare the journal entry to record the interest revenue and the amortization at December 31, 2018.
Exercise 17-9 (Part Level Submission)
At December 31, 2017, the available-for-sale debt portfolio for Tamarisk, Inc. is as follows. 
On January 20, 2018, Tamarisk, Inc. sold security A for $30,955. The sale proceeds are net of brokerage fees.
 
Prepare the adjusting entry at December 31, 2017, to report the portfolio at fair value.
 
 
Exercise 17-12
The following are two independent situations.
 
Situation 1
Pronghorn Cosmetics acquired 10% of the 182,000 shares of common stock of Martinez Fashion at a total cost of $12 per share on March 18, 2017. On June 30, Martinez declared and paid $76,700 cash dividend to all stockholders. On December 31, Martinez reported net income of $113,500 for the year. At December 31, the market price of Martinez Fashion was $13 per share.
 
Situation 2
Stellar, Inc. obtained significant influence over Seles Corporation by buying 30% of Seles’s 28,900 outstanding shares of common stock at a total cost of $9 per share on January 1, 2017. On June 15, Seles declared and paid cash dividends of $35,400. On December 31, Seles reported a net income of $92,300 for the year.
 
Prepare all necessary journal entries in 2017 for both situations.
 
 
Brief Exercise 17-13
Presented below are two independent cases related to available-for-sale debt investments.
 
 
Exercise 17-18
Vaughn Corporation has municipal bonds classified as a held-to-maturity at December 31, 2017. These bonds have a par value of $801,000, an amortized cost of $801,000, and a fair value of $729,000. The company believes that impairment accounting is now appropriate for these bonds.
 
Prepare the journal entry to recognize the impairment.
 
Exercise 17-27
On August 15, 2016, Riverbed Co. invested idle cash by purchasing a call option on Counting Crows Inc. common shares for $648. The notional value of the call option is 720 shares, and the option price is $72. The option expires on January 31, 2017. The following data are available with respect to the call option.

 

ACC 423 Week 3 DQ 1

ACC 423 Week 3 DQ 1

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 Why are there differences between taxable and financial income? What are some examples of permanent and temporary differences? Why do these differences exist? How do they affect the financial statements?  What experience do you have with either taxable and financial income and/or permanent and temporary differences in your organization or an organization that you are familiar with?

 

ACC 423 Week 3 DQ 2

ACC 423 Week 3 DQ 2

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 How are the tax benefits of net operating losses (NOL) disclosed on financial statements? Which is more beneficial to an organization, an NOL carryforward or an NOL carryback? Explain why. What experience do you have with NOL in your organization or an organization that you are familiar with?  When would a company decide to forego a NOL carryback?