Advanced Accounting Individualized
Instruction
Summer 2005 six-week course
Greetings!
I hope to make your individualized instruction “seamless” by giving you
assignments to help you learn the material and to distribute your grade over a
larger number of efforts.
Online Learners,
Your homework is to be completed using Microsoft Excel. You do not need to
utilize the worksheet features of Excel, except for those assignments specifically
designated as Excel assignments. Excel can be used very much like Word. It
streamlines my work grading the assignments if the instructor does not have to
toggle between programs.
A link will be made available for students to upload the assignments. Look for
the link in the Assignments content area of Blackboard.
The assignment due dates are somewhat arbitrary, based on the pace we need
to keep to get through the material in six weeks, if you need extra time for an
assignment, post your concerns or email me. I realize you are serious students
and I believe you act in good faith. My experience is communication is key to a
successful learning experience. Please keep me as informed as needed for your
work.
Chapter 9 Foreign Currency Transactions and Hedging
Foreign Exchange Risk
Assignment # 1 Due May 19th
FASB No. 52, Foreign Currency Transactions
–
Problem # 8, 11 & 12
Forward Contracts-Hedges Cash Flow and Fair Value - these will take some
time
-
Problem # 31 & 32 Forward Contract
Problem #33 & 34 Options
Assignment # 2 Due May 22nd
Hedging a Commitment-Options & Forward K
• Problems # 15, 16, 17
Chapter 9 OMIT pages 440, hedge of forecasted foreign currency denominated
transactions through the end of the chapter.
Chapter 10 Translation of Foreign Currency Financial
Statements
Assignment # 3 Due May 26th
• Page 507 questions 6, 10, 19, 20, 21
• Excel Handout posted in Course Documents, chapter 10. The data is
located on page 514 Problem 31. Download the worksheet and use your
Excel to complete the assignment.
Note: Chapter 10 exam questions will be limited to terminology and current
method of translation. The homework will help prepare you for the exam
questions.
Chapter 1 The Equity Method of Accounting for
Investments
To help you plan your time for the next two-week segment, notice chapters 1, 2,
and 3 are covered in the two-week segment. Chapter one has what should be
review information. Accordingly, more time should be allocated to chapters 2
and 3. Assignment 8 will take you longer to complete, you may choose to get to
that content area quickly.
Assignment # 4 Due May 31st
Problem 4 on page 26.
In addition to answering the question, what is the balance in the investment
account at December 31? Show how you arrive at the answer, and also provide
all the journal entries Puckett would make with respect it holding of Harrison
stock for the year. (There are 3 journal entries)
Problem 17 starting on page 29.
Show all of your work and label all of your numbers. Below I have started the
calculation of book value for you. Add changes in the book value for the year
2004 and 2005. To answer the question, you DO NOT need to convert from the
fair-value method to the equity method, because we are “starting from scratch”,
as if the company had always used the equity method. You are welcome to copy
and paste what I have listed below:
BOOK VALUE OF BROWN COMPANY INVESTMENT
Cost of initial acquisition—January 1, 2003 ........................................
10% income accrual (conversion made to equity method) 2003 ..
10% of dividends 2003 .....................................................................
$250,000
35,000
(10,000)
Assignment # 5 Due June 2nd

Problem 6 on page 27 of the text: determine the Book Value of Baskett
Company.
What is the Book Value of Baskett Company attributable to the purchase of
40% of the common shares by Ace on January 1?
Determine the amount of any excess of the investment’s purchase price (cost)
over the book value.
Determine the balance in the account on Ace’s books, Investment in Baskett as
of December 31.
Also problems 7, 8 and 9 on page 27
Continue your good efforts!!!
Chapter 2 Consolidation of Financial Information
Assignment # 6 Due June 5th
Problems 9 on page 74 and 20 on page 76, problems 14 and 15 on page 75.
Show your work and be sure to label your numbers.
Assignment # 7 Due June 8th

Problems 12 and 13 on page 75.
In addition to answering these questions, to give me an explanation. Show any
work, and be sure to label your numbers.
Using the data from question 23 on page 77.

Record the journal entries necessary on the books of Binghham to
record the stock-for-stock exchange. Based on this data, what are the
balance in the cash, stock and Paid in Capital accounts of larado.
What is the purchase price?
Allocate the purchase price to the assets of Laredo, including any
goodwill involved in the acquisition.
Explain what the balances on consolidated statements would be for
each account (for instance, are all account balances of Laredo included?
At what value – book or fair value would the items listed be combined
together on the consolidated statements?).
Assignment # 8 Due June 11th
Problems 2-27 and 2-28
2-27 and 2-28 problems are to be completed using the Excel worksheets
available for download from the publisher's website. Answer the "what if"
questions. Number your journal entries consistent with the textbook. A portion
of the assignment is to integrate the use of Excel with accounting. Therefore, be
sure to key in the information on the worksheet, and do not pencil-in the
information. On a separate worksheet, write out your journal entries. You may
use Word or Excel for the journal entries. However, using Excel allows all the
worksheets to be uploaded as one document, and may therefore be more
convenient.
provide the 3 consolidated Financial Statements.
1Problems are to be completed using the Excel worksheets available for
download from the publisher's website. Answer the "what if" questions. Number
your journal entries consistent with the textbook.
Chapter 3 Consolidations-Subsequent to the Date
of Acquisition
Assignment # 9 Due June 14th
Problems 4, 5, and 9
Assignment # 10 Due June 16th
Problem 26, show your work.
Chapter 4 Consolidated Financial Statements and
Outside Ownership
Assignment # 11 Due June 18th
Problems 2 through 6
Assignment # 12 Due June 20th
Problems 8 through 14
Assignment # 13 Due June 23rd
Computer Project page 202.
Be sure to check Course Information for detailed instructions to follow in lieu of
the instructions in the textbook. In addition to what is on the schedule.
Chapter 5 Individualized Instruction Assignment
Assignment # 14 Due June 23rd
Intercompany inventory transfers – year of sale

Question # 3 and 8 page 239
Problem #2 page 253
Problem # 5 page 254
Problems #10 through 15 page 255 & 256
Assignment # 15 Due June 23rd
Problem 18 b,c,d,e page257
Intercompany Transfer of Depreciable Assets
Problem # 8 page 254
Problem # 20 b. page 258 Cost of Goods and Inventory
Problems # 23 & 24 page 259
Omit upstream transfers of assets among affiliates.