[jeff]

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

[JustWant 75]

@Bummie, that is true i think 2013 rates apply to exams in the Q1-2 quarter of exam and 2014 rates on Q3-4.

Becker, Ninja Audio + Notes

FAR: 80 (Aug 2013)
AUD: 91 (Nov 2013)
BEC: 79 (Feb 2014)
REG: 80 (May 2014)

[TargetCPA]

Half of the Corp videos are done. Have to finish the balance lectures by tomorrow.

[CPA soon]

Pell is the principal and Astor is the agent in an agency coupled with an interest. In the absence of a contractual provision relating to the duration of the agency, who has the right to terminate the agency before the interest has expired?

Pell Astor

a. Yes Yes

b. Yes No

c. No Yes

d. No No

An agency coupled with an interest arises when an agent acquires from the principal an interest in the subject matter of the agency. In the absence of a contractual provision relating to the term of the agency, the authority of the agent (Astor) is irrevocable by the principal (Pell). If there is no time period specified for the agency, then the agent (Astor) may terminate at any time without liability, regardless of the type of agency.

I was looking at this question yesterday and I answered it wrong. The correct answer was b, I answered c. I feel like the explanation above does not match the answer. Any thoughts?

FAR - 71, 68, 74, (8/31/14) 78 ✔
REG - 67, 71, 71, (10/18/14) 78 ✔
BEC - (11/29/14) 86 ✔
AUD - 73, (4/4/15) 86 ✔

I can't believe this is over! 2 years and 3 months..

[Anonymous]

@JustWant 75 – Thanks for the response. That's good news. Gonna make the switch today.

[Qlad]

@cpa soon….The answer is C…when agency coupled with interest…Principle can not terminate before the interest is over…

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Qlad]

I have a question about Moving expenses for a new job….amount paid to an agent to look for a new house …Is this deductible?

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[CPA soon]

So you guys agree with me that the Wiley answer is wrong?!?!

@Qlad, only direct moving costs are allowed as adjustments (no meals, house-hunting, leasebreaking

payments, or temporary living expenses).

FAR - 71, 68, 74, (8/31/14) 78 ✔
REG - 67, 71, 71, (10/18/14) 78 ✔
BEC - (11/29/14) 86 ✔
AUD - 73, (4/4/15) 86 ✔

I can't believe this is over! 2 years and 3 months..

[TargetCPA]

@ Qlad, CPA soon is exactly right. I saw the below question somewhere in A71. It may help you as well.

https://www.another71.com/cpa-exam-forum/topic/isnt-lodging-and-temporary-living-the-same

Davidson was transferred from Chicago to Atlanta. In connection with the transfer, Davidson incurred the following moving expenses:

Moving the household goods $2,000

Temporary living expenses in Atlanta 400

Lodging on the way to Atlanta 100

Meals 40

What amount may Davidson deduct if the employer reimbursed Davidson $2,000 (not included in form W-2) for moving expenses?

A. $100

B. $120

C. $500

D. $520

A, Qualified moving expenses are limited to the expenses for moving the household goods ($2,000) and lodging ($100). Meals are not deductible during a move and temporary living expenses are never deductible. The $2,100 of qualified expenses is reduced by the $2,000 reimbursement from the employer.

[Qlad]

thanks cpasoon and targetcpa…. I am just getting confused without any reason…losing the confidence that i can do it right, may be…hope it passes by before the exam day… i might ask a lot of silly questions just to confirm that i am not going INSANE

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[CPA soon]

Hey just keep doing the same, next step is 75 lol

FAR - 71, 68, 74, (8/31/14) 78 ✔
REG - 67, 71, 71, (10/18/14) 78 ✔
BEC - (11/29/14) 86 ✔
AUD - 73, (4/4/15) 86 ✔

I can't believe this is over! 2 years and 3 months..

[Anonymous]

This one isn't really making sense to me. From Wiley…

Q. Stanley purchased a computer from Comp Electronics with a personal check. Later that day, Stanley saw a better deal on the computer so he orally stopped payment on the check with his bank. The bank,however, still paid Comp Electronics when the check was presented 3 days later. Which of the following is correct?

a. The bank is liable to Stanley for failure to follow the oral stop payment order.

b. The bank is NOT liable to Stanley because the stop payment order was NOT in writing.

c. The bank is not liable to Stanley if Comp Electronics qualifies as HDC.

d. Comp Electronics is liable to Stanley to return the amount of the check.

Answer is C. Can anyone explain this to me?

[CPA soon]

Sorry buddy that is my weakest area on the exam lol

FAR - 71, 68, 74, (8/31/14) 78 ✔
REG - 67, 71, 71, (10/18/14) 78 ✔
BEC - (11/29/14) 86 ✔
AUD - 73, (4/4/15) 86 ✔

I can't believe this is over! 2 years and 3 months..

[golfball7773]

and vaguely remember this from the last time I studied.

How is everyone's progress?

FAR: 63, 55, 62
REG: 65, 77*
AUD: Fail, 64, 71
BEC: 72, 74, 81

*expired

[zumbasweety]

I am 77% of the way through with a 75% score. I've got 2 sections that are below 70%, so I'm working on those in addition to adding new sections daily. I have 6 sections left to complete. I hope to have those done by the end of the week so my next 2 weeks can be review, review, review! How's everyone else doing?

I'm getting nervous.

FAR 82
REG 76
BEC 71, 78 (There is a light!!!)
AUD 69, 83 (DONE!!!!)

[Qlad]

@dante…when Stanley purchased the Comp and gave the check…the Comp Electronic was HDC.. ( all the 4 points to be a HDC apply..)…now when Stanley decided to stop the pymnt…it told the Bank but nothing says that Comp Electronics was notified of anything…so if it is still HDC, and Bank pays…it is not liable…

i am not very good at explaining …hope u got it …lol

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Author]

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