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ACC 422 Week 5 Learning Team 

Assignments From the Text

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Resource: Intermediate Accounting

Prepare written responses to the 

following assignments from the 

text:

 Ch. 13: Problem P13-4

Ch. 14: Exercise E14-21

Ch. 21: Exercise E21-7

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ACC 422 Week 5 Individual Assignments 

From the Text

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Resource: Intermediate Accounting

Prepare written responses to the 

following assignments listed at the 

end of each chapter:

 Ch. 13: Exorcices E13-1, E13-7, E13-11, 

& E13-13

Ch. 21: Question 3

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ACC 422 Week 5 DQ 4

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What are the advantages of operating and 

capital leases? What are the disadvantages? 

Why would a company pick one over the other?

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ACC 422 Week 5 DQ 3

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What is residual value? What is the implication 

to the lessee if the residual value is guaranteed 

or unguaranteed? What is the implication to the 

lessor?

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ACC 422 Week 5 DQ 2

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What are the criteria for classifying a lease as 

operating or capital? Why is there a difference 

between the two? What are the implications of 

an operating lease versus a capital lease on an 

entity’s financial statements?

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ACC 422 Week 5 DQ 1

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What are the differences between a direct-

financing and a sales-type lease for a lessor? 

Why would a lessor provide direct-financing to 

a lessee? What types of organizations provide 

direct-financing leases?

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ACC 422 Week 4 Summary

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ACC 422 Week 4 Learning Team Assignments 

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Resource: Intermediate Accounting

Prepare written responses to the following 

assignments from the text:

Ch. 11: Exercise E11-18 & Problem P11-10

 Ch. 12: Problem P12-3

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ACC 422 Week 4 Individual Assignments From 

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Resource: Intermediate Accounting

Prepare written responses to the following 

assignments from the text:

Ch. 11: Exercises E11-4 & E11-11

Ch. 12: Exercises E12-6 & E12-16

Prepare a response to the following questions:

What are at least four depreciation methods 

that are available to a company?

What are the similarities and differences?

Why does a company select one method over 

another?

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ACC 422 Week 4 DQ 3

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What is a bond? What are some features of a 

bond? How do you value bonds? What factors 

can affect that value?

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ACC 422 Week 4 DQ 2

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What is a contingency? Why are contingencies 

important to users of financial statements? 

What are the criteria for recording 

contingencies? Should companies record a 

liability for threatened litigation? Explain why or 

why not.

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ACC 422 Week 4 DQ 1

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What are the criteria for classifying an item as a 

current liability? What are some examples of 

current liabilities? Why is it important to classify 

a portion of long-term debt on a yearly basis as 

a current liability? What is the implication of 

misclassifying a liability as current or long-

term?

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ACC 422 Week 3 Summary

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422/ACC-422-Week-3-Summary

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ACC 422 Week 3 Learning Team Assignments 

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Resource: Intermediate Accounting

Prepare written responses to the following 

assignments from the text:

Ch. 9: Problem P9-9

Ch. 10: Problem P10-8

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ACC 422 Week 3 Individual Assignments From 

the Text

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Resource: Intermediate Accounting

Prepare written responses to the following 

assignments from the text:

Ch. 9: Exorcices E9-1, E9-12, & E9-19

Ch. 10: Exercises E10-5 & E10-12

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ACC 422 Week 3 DQ 4

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Why are research and development costs 

expensed? Is this consistent with how other 

similar costs are handled? Explain why or why 

not. Should research and development costs be 

expensed? Explain why or why not.

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ACC 422 Week 3 DQ 3

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What is an intangible asset? Should all 

intangible assets be subject to amortization? 

Explain why or why not. Why are some 

intangible assets not amortized? What is the 

implication to the financial statements?

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ACC 422 Week 3 DQ 2

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What are the different methods used to 

calculate depreciation? How does a company 

decide which method it should utilize? How 

does its choice affect the financial statements? 

Should companies standardize the method of 

depreciation to enhance comparability? Explain 

your answer.

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ACC 422 Week 3 DQ 1

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What is the purpose of depreciation? Does the 

book value of a fixed asset (cost minus 

accumulated depreciation) communicate to a 

user what the asset is worth? Explain why or 

why not. Should the financial statements 

reflect the value of fixed assets? Explain why 

or why not.

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ACC 422 Week 2 Summary

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ACC 422 Week 2 Learning Team Assignments 

From the Text

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 Resource: Intermediate Accounting

Prepare written responses to the following 

assignments from the text:

Ch. 7: Problem P7-10

Ch. 8: Exercise E8-25

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