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ACC 291 Week 2 Study Guide | Updated 2017-18


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Our fully updated 2017-18 ACC 291 Week 3 answer guide. All problems requiring calculations are performed in MS Excel, so you can easily learn the formulas and plug in new values. 

List of Problems Covered

  • Financial Reporting Problem Essay - Apple, Inc. 
  • WileyPlus Problems:
  • Which of the following is not a depreciable asset? 
  • Expenditures to maintain the operating efficiency and expected productive life of the unit are expensed as incurred.
  • What is depreciation?
  • When there is a change in estimated depreciation
  • Given the following account balances at year end, how much is amortization expense on Anisha Enterprises income statement for the current year if Anisha thinks all of its intangibles should be amortized over ten years?
  • On June 1, 2017, Brislin company sold some equipment for $22,000. The original cost was $80,000, the estimated salvage value was $8,000, and the expected useful life was 8 years. The equipment was fully depreciated. How much is the gain or loss on the sale?
  • Walk Co's average total assets are s200,000, net sales total to $100,000, and net income is $40,000. How much net income did Walk Co generate for each dollar of assets invested?

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