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ACC 291 Week 3 Learning Team Study Guide PaperScholar Study Aids
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ACC 291 Week 3 Learning Team Study Guide

ACC 291 Week 3 Learning Team Study Guide

This tutorial includes all references, is in correct APA format, and was graded 100% by an instructor. A+++ WORK

 

 

Resources: Ch. 9 and 10 of Financial Accounting.

 

Complete the two assigned learning team problems found in the Week 3 Microsoft® Excel® template provided in the Course Materials forum. Submit the completed Microsoft® Excel® template to the Assignments Tab.

 

Problem 1

Brainiac Company purchased a delivery truck for $30,000 on January 1, 2011. The truck has an expected salvage value of $2,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,000 in 2011 and 12,000 in 2012.

 

Problem 2

Hrabik Corporation issued $600,000, 9%, 10-year bonds on January 1, 2011, for $562,613.This priceresulted in an effective-interest rate of 10% on the bonds. Interest is payable semiannually on July 1and January 1. Hrabik uses the effective-interest method to amortize bond premium or discount. Hrabik Corporation issued $600,000, 9%, 10-year bonds on January 1, 2011, for $562,613.This price resulted in an effective-interest rate of 10% on the bonds. Interest is payable semiannually on July 1 and January 1. Hrabik uses the effective-interest method to amortize bond premium or discount.

 

Resources: Ch. 9 and 10 of Financial Accounting.
Complete the two assigned learning team problems found in the Week 3 Microsoft® Excel® template provided in the Course Materials forum.
Submit the completed Microsoft® Excel® template to the Assignments Tab.
Problem 1
Brainiac Company purchased a delivery truck for $30,000 on January 1, 2011. The truck has an expected salvage value of $2,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,000 in 2011 and 12,000 in 2012.
Problem 2
Hrabik Corporation issued $600,000, 9%, 10-year bonds on January 1, 2011, for $562,613.This priceresulted in an effective-interest rate of 10% on the bonds. Interest is payable semiannually on July 1and January 1. Hrabik uses the effective-interest method to amortize bond premium or discount.
Hrabik Corporation issued $600,000, 9%, 10-year bonds on January 1, 2011, for $562,613.This price resulted in an effective-interest rate of 10% on the bonds. Interest is payable semiannually on July 1 and January 1. Hrabik uses the effective-interest method to amortize bond premium or discount.