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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!




 
 
 

287 Comments


R H
R H
Jan 23

For the chapter review of chapter 3. For estinguishment of debt chapter,is there an example that you do without giving us the discount or premium in the problem? Isn't it harder to solve without given that portion?

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Gracie D
Gracie D
Dec 07, 2025

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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Mikey Brown
Mikey Brown
Dec 09, 2025
Replying to

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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Cecilia Bodon
Cecilia Bodon
Jul 13, 2025

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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Mikey Brown
Mikey Brown
Jul 16, 2025
Replying to

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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aidanmj1121
Apr 27, 2025

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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Mikey Brown
Mikey Brown
Apr 28, 2025
Replying to

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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aidanmj1121
Apr 24, 2025

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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Mikey Brown
Mikey Brown
Apr 25, 2025
Replying to

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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