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ACG4111 Discussion Board

Updated: Sep 14, 2022

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!




 
 
 

286 Comments


Gracie D
Gracie D
Dec 07

For Professor Kirk, the exam is cumulative. Do you have an approximation of what % of the exam will be new content and what % will be content from past chapters?

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I would estimate around 30% but I cannot guarantee.


I would attempt our 15 cumulative questions provided as your best concise practice of previous topics.

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The solution video for FRQ #2 Mock Exam B does not line up with the actual problem. Do you have a solution for the actual problem?

Edited
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Hi Cecilia,


I am so sorry we didn't get to this in time before your Exam.


In the future for quicker response - please email me at mikey@automatictutoring.com !

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Mock Exam A, #7.


In other instances when given the monthly salary you multiply it by 12 to get the yearly. Why is that not the case for this question?

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Hi Aidan,


The question here should say annually - so the answer key accidentally includes 5,000 one time as an annual salary.


Apologies on the confusion here!

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For question 39 on the exam review packet, what would be the second journal entry for the partial goodwill method? It's not relevant for the sake of this question, I just can't figure out how to balance it out.

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The journal entry would be:


Debit Goodwill 5,000

Credit JP Capital 5,000


This would increase JPs capital from 10,000 originally + 5,000 allocated from gain = 15,000 up to 20,000 - the amount he will receive upon leaving.


Then the final entry would be:


Debit JP Capital 20,000

Credit Cash 10,000

Credit Notes Payable 10,000

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When is JC ch 15 going to be available? We have a quiz on it tomorrow

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Hi Ananya,


JC 15 is only covered in the Exam Review which was released a few days before your quiz last week!

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