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ACG4111 Discussion Board

Feel free to ask any questions regarding the new FAR 2 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 (Chapter 23 review, page 18, question #, etc).


Good luck studying!




 
 
 

277 Comments

jordysaltz16
Feb 11

when will the exam review packet be available at target copy?

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Mikey Brown
Mikey Brown
Feb 25
Replying to

Hi,


Apologies on delay - for scheduling questions please email mikey@automatictutoring.com to know specific release dates at Target Copy!

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This comment was deleted.
Mikey Brown
Mikey Brown
Feb 09
Replying to

Hi Thomas,


The reason we pay the full cash is because this Question is getting at the topic of bonds issued between interest dates.


Since the bond was dated may 1st and actually issued july 1st, there was 2 months of accrued interest we received (which we received in part a). Because we receive interest for 2 months on July 1st, we end up paying an entire 6 months of interest in part D. However, if you net together the extra cash received (from part a) with the cash paid (part d), you will see the cash actually paid for interest is 250k x 5% x 4/12.


Let me know if this helps!

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Ausi Laguerre
Ausi Laguerre
Nov 27, 2024

Hello! for the exam review practice questions chapter 22 question 1, why is that we do not add back interest expense into Net Income?

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Mikey Brown
Mikey Brown
Jan 03
Replying to

Hi,


Sorry for delayed response here. We don't add back interest expense to net income ever for the indirect method.

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Celia Korona
Celia Korona
Nov 20, 2024

When will the JC Ch. 15 be available?

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Bryant Marrero
Bryant Marrero
Dec 01, 2024
Replying to

^^^

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Ausi Laguerre
Ausi Laguerre
Oct 19, 2024

In the chapter 19 review for practice question #23, why is the gain of 960 credited to pension expense and debited to unexpected gains/losses? Are gains not supposed to be credit accounts?


Also for question #4 on the chapter 19 practice quiz, why are we deducting expected return when in other problems we only deduct actual return from pension expense? The rest of the packet only used expected return to record unexpected G/L for pension expense?

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Ausi Laguerre
Ausi Laguerre
Oct 21, 2024
Replying to

Thank you for clarifying, makes sense :)

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