ACC 291 Week 2 Reflection Summary

ACC 291 Week 2 Reflection Summary
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 In the file ACC 291 Week 2 Reflection Summary you will find overview of the following parts:


 Identify the entries associated with acquisition, disposal, and sales of plant assets.
 Distinguish between tangible and intangible assets.
 Differentiate between accounts payable, notes payable, and accrued expenses.
 Calculate depreciation and amortization expense using various methods.
 Distinguish between revenue and capital expenditures, and the entries associated with each.

Business - Accounting
 ACC 291 All Week 2 Assignments - Individual WileyPlus assignment


 Includes:

 Week 2 Chapter 8 practice quiz 1

 Week 2 Chapter 9 Practice quiz 1

 Week 2 Chapter 10 Practice quiz 1

 Week 2 reflection summary

 Week 2 Discussion questions 1 and 2

 Week 2 Individual WileyPlus assignment as described below:

 E8-3

 The ledger of Hixson Company at the end of the current year shows Accounts Receivable $120,000, Sales $840,000, and Sales Returns and Allowances $30,000.

 BE9-13

 Information related to plant assets, natural resources, and intangibles at the end of 2011 for Spain Company is as follows: buildings $1,100,000; accumulated depreciation—buildings $650,000; goodwill $410,000; coal mine $500,000; accumulated depletion—coal mine $108,000. Prepare a partial balance sheet of Spain Company for these items.

 Exercise Do It! 9

 Match the statement with the term most directly associated with it

 E9-9

 Presented below are selected transactions at Ingles Company for 2011
 so on...

 E9-10

 Beka Company owns equipment that cost $50,000 when purchased on January 1, 2008. It has been depreciated using the straight-line method based on estimated salvage value of $5,000 and an estimated useful life of 5 years.

 P9-5A Compute periodic depreciation using different methods

 At December 31, 2011, Jimenez Company reported the following as plant assets

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