ACC291 Week 2 E8-3 BE9-13 Do it!9-4 E9-9 E9-10 P9-5A

E8-3 The ledger of Hixson Company at the end of the current year shows Accounts
Receivable $120,000, Sales $840,000, and Sales Returns and Allowances $30,000.

..so on

BE9-13 Information related to plant assets, natural resources, and intangibles at the end of
2011 for Spain Company is as follows: buildings $1,100,000; accumulated depreciation—buildings
$650,000; goodwill $410,000; coal mine $500,000; accumulated depletion—coal mine $108,000.
Prepare a partial balance sheet of Spain Company for these items.

Do it! 9-4 Match the statement with the term most directly associated with it.
(a) Goodwill (d) Amortization
(b) Intangible assets (e) Franchise
(c) Research and development costs

so on ...

E9-9 Presented below are selected transactions at Ingles Company for 2011.
Jan. 1 Retired a piece of machinery that was purchased on January 1, 2001.The machine cost
$62,000 on that date. It had a useful life of 10 years with no salvage value.

so on...

E9-10 Beka Company owns equipment that cost $50,000 when purchased on January 1, 2008.
It has been depreciated using the straight-line method based on estimated salvage value of
$5,000 and an estimated useful life of 5 years.

so on ...

P9-5A At December 31, 2011, Jimenez Company reported the following as plant assets.

and so on ...