ACC 291 (Principles of Accounting-II) Week 2 Complete

ACC - 291 Week 2

Discussion Question 1:

What are the differences among valuation, depreciation, amortization, and depletion?

Is it appropriate to calculate depreciation using two different methods? Why?

What does the Annual Report you are using for class say about depreciation?

Discussion Question 2:

What types of industries have unearned revenue?

Why is unearned revenue considered a liability?

When is the unearned revenue recognized in the financial statements?

What does your Annual Report say about unearned revenue?

Discussion Question 3:

Would you rather buy a bond at a discount or a premium rate? Why?

What is the determining factor of whether a bond is sold at a discount, face, or premium?

What does your annual statement say about bonds?

Discussion Question 4:

How would you describe the accounting procedures for notes payable and accounts payable?

·         Individual Exercises:

            Individual Exercises E 9-1, E 9-12 , E 9-7,Problem  P9-7B

·         Individual WileyPLUS Assignment Exercise

            E8-3 , BE9-13, 9-4 , E9-9 , E9-10, Problem 9-5A

·         ACC 291 Week 2 LT Reflection.docx