[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

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

[jstay]

jpowell…same thing to me before…staring at an inventory problem for 6 minutes only to realize they wanted ending inventory and not cogs….

also, just and FYI..if stock dividend or stock split changes C/S outstanding, computation of EPS should give retroactive recognition for all periods presented using the new # of shares

[HopefulCPA0601]

@anna-

Your entry would be

dr. increase in csv 21,000

dr. insurance exp 19,000

cr. annual premium 40,000

the dividends are a distractor. I memorized just that journal entry and it makes these questions easy and quick.

BEC: 65 - 79* - 84 DONE
AUD: 65 - 76 DONE
REG: 63 - 77 DONE
FAR: 65 - 63 - 67 - 69 - 73 - 71 - 83 DONE

Becker Notes & Flashcards, Wiley Test Bank, Ninja MCQ

[Anonymous]

what's with dividends then? I understand that there is some simple thing I am missing but what is it

[jstay]

is it that the dividends are already included in the investment increase?

if it helps maybe look at it as a 15,000 increase in FV PLUS the 6,000 which would be 21,000 which in turn reduces the expense from 40,000 to 19,000

[jstay]

i absolutely hate when i know the answer but i accidentally click the wrong one in Becker so my score is down but i KNEW the correct answer..ughh

[HopefulCPA0601]

The dividends are not separately considered because the effect of the dividends is already included in the increase in CSV. If they had received cash dividends that were no applied then the formula would be:

cash paid: 40,000 – (end csv – beg csv: 108,000-87,000) – cash div received

BEC: 65 - 79* - 84 DONE
AUD: 65 - 76 DONE
REG: 63 - 77 DONE
FAR: 65 - 63 - 67 - 69 - 73 - 71 - 83 DONE

Becker Notes & Flashcards, Wiley Test Bank, Ninja MCQ

[Anonymous]

what's the entry for dividends then?

[jstay]

if you look back at the question it says that dividends were included in increase of CSV…so if it hadn't been and there was still a 21,000 increase in CSV…we would take another 6,000 off right?

but being that they were..we leave it alone?

[Anonymous]

thanks, i'll just memorize this answer i guess 🙂

[jstay]

two sections i did today: inventory- 83% and EPS- 79%

yesterdays- 25 questions on working capital= 82%

hopefully i retain all this crap for 8/31

[jpowell31]

you're doing better than me and have two extra weeks. you're in great shape! i just realized i somehow completely skipped foreign exchange questions in chapter two….jsut didn't do them at all. thankfully only 18 questions but HOW? i also just did very badly on my marked questions for non-monetary exchanges. need those to click. i thought i had them down? i'm trying to cram too much in i'm losing stuff and making very stupid mistakes. 🙁

[jstay]

jpowell…my two weaknesses- foreign exchange transactions and non monetary transactions.

[jpowell31]

i had to drill down the nonmonetary exchanges for REG – it's so easy to forget. it's like one question appears identical to the next but it's not…. once you have it down, it's a breeze. i need to get to that point as i don't want to waste time or points here.

[D C]

this first practice final exam in becker was killer… i felt so dumb taking it.. i think i got a 69ish..

B - 80
A - 71, 67, 77
R - 71, 77
F - 72, 77
DONE!!
Becker Self-study all the way! Did use Ninja Notes & Audio for FAR.

[jpowell31]

thats not bad with a week to go! i'm too scared to take it yet. i always do this….

[Author]

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