ADVANCED ACCOUNTING EXAM PACK WITH VERIFIED SOLUTIONS GRADED A+

Advanced Accounting final exam with verified solutions An investor uses the equity method to account for an investment in common stock. After the date of acquisition, the equity investment account of the investor is: a) not affected by its share of the earnings of the investee but is decreased b...

Advanced Accounting final exam with verified solutions In the preparation of a consolidated statement of cash flows using the indirect method of presenting cash flows from operating activities, the amount of the noncontrolling interest in consolidated income is: Select one: a. combined with th...

Advanced Accounting Final EXAM 100% SOLVED B) $1,247,500 - ANSWEROn January 1 of the current year, Barger Company buys 150,000 shares of Booker, Inc.'s common stock for $1,200,000, the book value of the shares. This purchase gave Barger 25% ownership in Booker and the ability to significantly ...

Advanced Accounting Final EXAM 100% solved A translation adjustment must be calculated and disclosed when financial statements of a foreign sub are translated into the parents reporting currency. How is this figure computed, and where is the amount reported in the financial statements? - ANSWER...

Advanced Accounting exam Graded A+ Data - ANSWERFact, occurrence, instance, measurable observation Big Data - ANSWERCorporate accumulation of massive amounts of data that can be used for analysis Why has utilizing big data become normal for most institutions? - ANSWER1. Advancements in collect...

Advanced Accounting exam with verified solutions Jabiru Corporation purchased a 20% interest in Fish Company common stock on January 1, 2013 for $300,000. This investment was accounted for using the complete equity method and the correct balance in the Investment in Fish account on December 31,...

Advanced Accounting exam with verified solutions On January 1, Puckett Company paid $1.6 million for 50,000 shares of Harrison's voting common stock, which represents a 40 percent investment. No allocation to goodwill or other specific account was made. Significant influence over Harrison is a...

Advanced Accounting exam with verified solutions In a governmental fund, which of the following constitutes revenue? a. Cash received from another fund of the same unit b. bond proceed c. property taxes d. refund on a invoice for fuel - answerProperty Taxes - a and b are other financing sourc...

Advanced Accounting exam 100% solved Which of the following is not a governmental fund? - answerInternal Service Fund. What is the purpose of a Special Revenue Fund? - answerTo account for revenues legally or externally restricted as an operating expenditure. What is the purpose of Enterprise F...

Advanced Accounting exam 2 100% solved How much intercompany inventory profit should be eliminated from ending inventory in the consolidation process? a) Net profit on total inter-company sales during the year b) Gross profit on total inter-company sales during the year c) Gross profit on good...