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Dobbs Wholesale Antiques

Dobbs Wholesale Antiques makes all sales  under terms of FOB shipping point. The company usually receives orders for sales approximately one week before shipping inventory to customers. For orders received late in December, Kathy Dobbs, the owners, decides when to ship the goods. If profits are already at an acceptable level, Dobbs delays shipment until January.

Case Study

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ACC 291 Week 1 Exercises – Week One

Resources: Chapters 8 & 9 of Financial Accounting

ACC 291 Week 2 Reflection

Discuss the objectives for Week One. How do they relate to the practice of accounting and its uses in business?

ACC 291 Week 3 Exercises and Problems

Resources: Ch. 11 & 12 of Financial Accounting.

ACC 291 Week 3 Problem 10-6A

On July 1, 2011, Atwater Corporation issued $2,000,000 face value, 10%, 10-year bonds at $2,271,813. This price resulted in an effective-interest rate of 8% on the bonds. Atwater uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest July 1 and January 1.

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