# ACC 291 Week 3 Reflection Summary

Topics: Income tax, Mortgage, Bond Pages: 4 (677 words) Published: October 27, 2014

In the file ACC 291 Week 3 Reflection Summary you will find overview of the following parts:

Calculating stock, dividends, and stock splits
Differentiate types of stocks issued by corporations.
Reference

Business - Accounting
ACC 291 All Week 3 Assignments - Individual WileyPlus Assignment

Includes:

Week 3 Chapter 11 practice quiz 1

Week 3 Chapter 12 Practice quiz 1

Week 3 reflection summary

Week 3 Discussion questions 1 and 2

Week 3 Individual WileyPlus assignment as described below:

Exercise E9-7

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.

Exercise E10-5

Don Walls's gross earnings for the week were \$1,780, his federal income tax withholding was \$301.63, and his FICA total was \$135.73.

Exercise E10-10

On January 1, Neuer Company issued \$500,000, 10%, 10-year bonds at par. Interest is payable semiannually on July 1 and January 1

Exercise E10-11

On January 1, Flory Company issued \$300,000, 8%, 5-year bonds at face value. Interest is payable semiannually on July 1 and January 1

Exercise E10-15

Leoni Co. receives \$240,000 when it issues a \$240,000, 10%, mortgage note payable to finance the construction of a building at December 31, 2011. The terms provide for semiannual installment payments of \$20,000 on June 30 and December 31

Exercise E10-18

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 ...

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