[Q2] FAR Study Group 2014 - Page 139

  • Creator
    Topic
  • #183478
    jeff
    Keymaster

    I’ve had a few requests for April/May Study Groups…March will be here before you know it.

    In order to take an early April exam, you should begin studying…now. 🙂

    Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

Viewing 15 replies - 2,071 through 2,085 (of 6,668 total)
  • Author
    Replies
  • #562586

    @NJPRU, is it $900k?

    Sales 4800 @ (1-.25) = 3600 COGS.

    beg $900+3400+freight in 200 = 4500 – 3600 = 900k ending.

    If I'm wrong I bet its the freight in.

    CPA (MA, Non-Reporting)

    The difference in winning & losing is most often, not quitting - Walt Disney

    B - 33, 71, 79!
    A - 32, 61, 70, 83!
    R - 33, 58, 73, 69, 81!
    F - 47, 78! 🙂
    After 3 long years, I'm finally DONE!
    I could not have done it without NINJA MCQs.

    Used: Roger for his Videos, WTB, and NINJA Audio, Notes and Test Bank.

    #562587

    @NJPRU, thank you! I was all ready to get my scratch paper out for some calculations, but then I saw yes or no question and got completely confused.

    CPA (MA, Non-Reporting)

    The difference in winning & losing is most often, not quitting - Walt Disney

    B - 33, 71, 79!
    A - 32, 61, 70, 83!
    R - 33, 58, 73, 69, 81!
    F - 47, 78! 🙂
    After 3 long years, I'm finally DONE!
    I could not have done it without NINJA MCQs.

    Used: Roger for his Videos, WTB, and NINJA Audio, Notes and Test Bank.

    #562588
    NJPRU
    Member

    900k is correct 🙂

    AUD: DONE
    FAR: DONE
    BEC: DONE
    REG: DONE

    IM GOING TO BE A CPA!!!!!

    #562589
    klink24
    Participant

    @JRo, on that Opal inventory question, I think they mean the $40,000 was cost but the 40% markup on that cost was included in inventory ($40,000 * 1.4 = $56,000, of which $16,000 would have to be removed from inventory costs). That $16,000 plus the $27,000 in consignment inventory gives the $43,000. At least that was the only thing I could come up with given the information provided.

    FAR: 4/19/2014 - 85!
    AUD: 5/27/2014 - 90!
    REG: 7/18/2014 - 81!
    BEC: 8/13/2014 - 84!

    4 up, 4 down, in 4 months.

    Licensed 9/22 in NC.

    #562590
    stoleway
    Participant

    What is the initial journal entry for issuance of stock dividend ?

    REG -63│ 84!!
    BEC- 59│70│ 71 │78!
    AUD- 75!
    FAR- 87!

    Mass-CPA

    #562591
    Anonymous
    Inactive

    @stoleway–Debit RE and Credit Dividend Payable?

    #562592
    stoleway
    Participant

    @CPAMommyof3

    Dr RE

    Cr Common stock

    Cr APIC

    REG -63│ 84!!
    BEC- 59│70│ 71 │78!
    AUD- 75!
    FAR- 87!

    Mass-CPA

    #562593
    Anonymous
    Inactive

    Well that would make more sense because it's a STOCK dividend. LOL. No quizzing for me tonight. I can barely keep my eyes open. Hopefully I'll get to study tomorrow.

    #562594
    stoleway
    Participant

    @CPAMommyof3

    We miss you though, hope you had a great day?

    REG -63│ 84!!
    BEC- 59│70│ 71 │78!
    AUD- 75!
    FAR- 87!

    Mass-CPA

    #562595
    Anonymous
    Inactive

    Thanks. My day was exhausting. My parents downsized a month ago and we had to go back to their old house to go through everything that they decided not take to the new house. My brother had to come down from NC with his truck and his trailer to get the things he wanted to take back home with him and to bring the things I wanted over to my house. It is A-Mazing how much stuff my parents have collected over the years. It was a bit of a sad day for everyone as we split up everything that meant something to them. And we're not done–I promised them a couple of hours in the morning before my brother goes back home. Then I hope to get in several hours of studying midday tomorrow. I checked the forum twice today to try to do the questions but didn't log in. You guys had some good tough questions today. I wish I could have joined in. Maybe tomorrow night after the girls go to sleep.

    #562596
    stoleway
    Participant

    I can imagine how emotional this can be, but I believe they will get used to the changes and all the anxieties that comes along with moving. Its been a busy day for you, get some rest and hopefully we will see you tomorrow:)

    REG -63│ 84!!
    BEC- 59│70│ 71 │78!
    AUD- 75!
    FAR- 87!

    Mass-CPA

    #562597
    Anonymous
    Inactive

    Happy studying today everyone!!!

    #562598
    jrosen92770
    Participant

    Thanks everyone for the explanation, dang trick questions.

    BEC - 5/26/2013 75
    REG - 8/31/2013 82
    AUD - 11/24/2013 74, 2/9/2014 92
    FAR - 5/25/2014 85

    NY CPA

    #562599
    NJPRU
    Member

    Starting Income Tax Accounting today! Wish me luck!! 🙂

    Good luck to everyone today!

    AUD: DONE
    FAR: DONE
    BEC: DONE
    REG: DONE

    IM GOING TO BE A CPA!!!!!

    #562600
    SpartanCPA
    Member

    @NJPRU good luck! Let me know how it goes for it! I went over that last night and struggled! It will definitely be one of the areas I look over again for a 3rd time before my exam.

    I probably won't get any studying done until later tonight. I will have 4 more units left to review over again before exam day!

    AUD - 01/18/14 - 81
    BEC - 05/29/14 - 85
    FAR - 07/18/14 - 81
    REG - 11/18/14 - 80

    Becker CPA Review
    NINJA Audio
    Michigan State University

Viewing 15 replies - 2,071 through 2,085 (of 6,668 total)
  • The topic ‘[Q2] FAR Study Group 2014 - Page 139’ is closed to new replies.