ACC 281 Week 3 Team Assignment P9-2A,P10-3A,P10-5A,P10-7A

ACC 281 Week 3 Team Assignment P9-2A,P10-3A,P10-5A,P10-7A

ACC 281 Week 3 Team Assignment P9-2A,P10-3A,P10-5A,P10-7A
Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser

https://hwguiders.com/downloads/acc-281-week-3-team-assignment-p9-2ap10-3ap10-5ap10-7a/

For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ )

Feel Free to Search your Class through Our Product Categories or From Our Search Bar
(http://hwguiders.com/ )

PROBLEM 9-2A


(a) $33,000.

(b) $44,000 ($2,200,000 X 2%).

(c) $46,500 [($825,000 X 6%) – $3,000].

(d) $52,500 [($825,000 X 6%) + $3,000].

(e) The weakness of the direct write-off method is two-fold. First, it does not match expenses with revenues. Second, the accounts receivable are not stated at cash realizable value at the balance sheet date.


PROBLEM 10-3A


(a) (1) Purchase price………………………………………………………….. $ 38,000
1,700  Sales tax…………………………………………………………………….
150   Shipping costs…………………………………………………………..
80     Insurance during shipping………………………………………..
Installation and testing……………………………………………… 70
Total cost of machinery……………………………………… $ 40,000

Machinery…………………………………………………….. 40,000
Cash……………………………………………………… 40,000

(2) Recorded cost…………………………………………………………… $ 40,000
Less: Salvage value…………………………………………………. 5,000
Depreciable cost……………………………………………………….. $ 35,000
Years of useful life…………………………………………………….. ÷ 5
Annual depreciation…………………………………………… 7,000 $

7,000 Depreciation Expense………………………………….
7,000 Accumulated Depreciation……………………

ACC 281 Week 3 Team Assignment P9-2A,P10-3A,P10-5A,P10-7A
Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser

https://hwguiders.com/downloads/acc-281-week-3-team-assignment-p9-2ap10-3ap10-5ap10-7a/

For More Courses and Exams use this form (...

Similar Essays