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On January 1, a machine with a useful life of five years and a residual value of $40,000 was purchased for $120,000. What is the depreciation expense for year 2 under the double-declining-balance method of depreciation? – PowerPoint PPT presentation

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Title: ACC 291 Empower Learning/ indigohelp

1
ACC 291 Empower Learning/ indigohelp
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ACC 291 Educational Tutor/ indigohelp
ACC 291 Empower Learning/ indigohelp

ACC 291 Final Exam Guide (New)

ACC 291 Final Exam Guide

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Hahn Company uses the percentage of sales method
for recording bad debts expense. For the year,
cash sales are 300,000 and credit sales are
1,200,000. Management estimates that 1 is the
sales percentage to use. What adjusting entry
will Hahn Company make to record the bad debts
expense?

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Question 207
On January 1, a machine with a useful life of
five years and a residual value of 40,000 was
purchased for 120,000. What is the depreciation
expense for year 2 under the double-declining-bala
nce method of depreciation?
IFRS Multiple Choice Question 01
As a recent graduate of State University you're
aware that IFRS requires component depreciation
for plant assets. A friend has asked you to
succinctly explain what component depreciation
means. Which of the following correctly describes
component depreciation?

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ACC 291 Educational Tutor/ indigohelp
ACC 291 Empower Learning/ indigohelp

ACC 291 Final Exam Guide1

ACC 291 Week 1 Discussion Question 1

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Question 1 An aging of a company's accounts
receivable indicates that 4,500 are estimated to
be uncollectible. If Allowance for Doubtful
Accounts has a 1,200 credit balance, the
adjustment to record bad debts for the period
will require a

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How would you describe the entries to record the
disposition of accounts receivables?
What is their function?

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ACC 291 Empower Learning/ indigohelp

ACC 291 Week 1 Discussion Question 2

ACC 291 Week 1 Wileyplus Assignment E8-4, E8-11,
BYP8-1, and BYP8-2

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How are bad debts accounted for under the direct
write-off method?
What are the disadvantages of this method?

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E8-4, E8-11, BYP8-1, and BYP8-2 in MS Excel
Exercise 8-4 Wainwright Company
Exercise 8-11 Fedex Corporation
Broadening your Perspective 8-1 Tootsie Roll
Broadening your Perspective 8-2 Tootsie Roll and
Hershey

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ACC 291 Empower Learning/ indigohelp

ACC 291 Week 2 Discussion Question 1

ACC 291 Week 2 Discussion Question 2

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What are the differences among valuation,
depreciation, amortization, and depletion?
Is it appropriate to calculate depreciation using
two different methods? Why?
What does the Annual Report you are using for
class say about depreciation?

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What types of industries have unearned revenue?
Why is unearned revenue considered a liability?
When is the unearned revenue recognized in the
financial statements?
What does your Annual Report say about unearned
revenue?

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ACC 291 Empower Learning/ indigohelp

ACC 291 Week 2 Fordyce and Atwater

ACC 291 Week 2 Wileyplus Assignment P8-3A,
BE9-11, DI9-5, E9-7, E9-8, BYP9, P9-2A

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Fordyce Electronics issues a 400,000, 8,
10-year mortgage note on December 31, 2007. The
proceeds from the note are to be used in
financing a new research laboratory. The terms of
the note provide for semiannualinstallment
payments, exclusive of real estate taxes and
insurance, of 29,433. Payments are due June 30
and December 31.

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P8-3A, BE9-11, DI9-5, E9-7, E9-8, BYP9, P9-2A.
Problem 8-3A Bosworth Company
Brief Exercise 9-11 Nike, Inc.
Do It! 9-5
Exercise 9-7 Wang, Co.
Exercise 9-8 Cleand Company
Broadening Your Perspective 9-1 Tootsie Roll
Broadening Your Perspective 9-2 Tootsie Hershey

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ACC 291 Empower Learning/ indigohelp

ACC 291 Week 3 Discussion Question 1

ACC 291 Week 3 Discussion Question 2

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Why does a company choose to form as a
corporation?
What are the steps required to become a
corporation?
What are the advantages and disadvantages of the
corporate form of doing business?

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Why is preferred stock referred to as preferred?
What are some of the features added to preferred
stock that make it more attractive to investors?
Would you select preferred stock or common stock
as an investment? Why?
Provide stock details from your Annual Report.

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ACC 291 Empower Learning/ indigohelp

ACC 291 Week 3 Wileyplus Assignment P9-7A, E10-5,
E10-8, E10-13, E10-22, E10-24, BYP10, P10-9A,
P10-13A, IFRS10-4

ACC 291 Week 4 Discussion Question 1

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P9-7A, E10-5, E10-8, E10-13, E10-22, E10-24,
BYP10, P10-9A, P10-13A, IFRS10-4.
Exercise 10-5 Olinger Company
Exercise 10-8 Ortega Company
Exercise 10-13 Romine Company
Exercise 10-22 Cole Corporation
Exercise 10-24 Nance, Co.

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Why are companies required to prepare a statement
of cash flows?
Why is the statement of cash flows divided into
three sections?
What does each section tell you about the
operations of a company?
What are the differences between the direct and
indirect presentation of cash flows?

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ACC 291 Empower Learning/ indigohelp

ACC 291 Week 4 Discussion Question 2

ACC 291 Week 4 Wileyplus Assignment Do It! 11-1,
E11-5, E11-7, BYP11-1, BYP11-2, P11-5A, P11-8A

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What are some common ratios used to analyze
financial information? Which are the most
important?What are some examples of how ratios
are used in the decision making process?Two
popular methods of financial statement analysis
are horizontal analysis and vertical analysis.
What are the differences between these two
methods?