ACG3101 Discussion Board

Sep 14, 2022

1 min read

Feel free to ask any questions regarding the new FAR 1 material or in general about the class! Remember, its Automatic!

If you have questions about a specific textbook problem or question in a review packet, please be very clear (Exam 1 Review, page 18, question #, etc).

Good luck studying!

325 Comments

catalinaforwood

a day ago

On question 20 in mock exam B, where did they get the 8/12 months for the notes receivable interest

Daniella Oronges

3 days ago

I also am a little confused on what you mean by Falk uses what he says in his lectures on his exams? Is he usually very specific?

Mikey Brown

a day ago

Replying to

Hey Daniella,

Falk in his lectures will usually be very specific about what will be on the Exams. While he is teaching the textbook and the same material as the textbook which is what we cover as well - he is much more clear in his lectures on what will be tested on the exam. So it is very beneficial to pay attention in class as a priority to our materials - we can't predict exactly what will be on exams. Most professor are not specific about what exact questions will be asked on the exam - but Falk usually is.

Jake Testa

5 days ago

In the chapter 3 packet practice problems, on question #19. You said that the available-for-sale worth $25,000 goes to other comprehensive income, so why is it not included in B, C, or D

Mikey Brown

4 days ago

Replying to

So the purchase itself is not going to affect net income - this would simply be one asset increasing (investment account) and another asset decreasing (cash). The only things that affect net income & other comprehensive income here are the interest and change in value at the end of the year (and theoretically - a gain/loss when sold). The purcahse itself of $25,000 is not affecting any income accounts.

Jake Testa

5 days ago

In the chapter 3 packets practice problems, on question #17, I understand that the stock becoming worthless would result in a loss of some sort, but since it was deemed worthless in 2019 why would that loss affect 2025 net income, or are you just assuming it would be 2025 for the purpose of the problem?

Mikey Brown

4 days ago

Replying to

Great question Jake! The question should say deem worthless in 2025 - good catch here. We will make that correction!

Michelle Kui

Sep 17

Are the chapter review packets for chapter 2 and onward only in paper form or can I access it online through a pdf?