Financial Accounting > EXAM > ACC 308 7-1 Final Project Submission with complete solution (All)

ACC 308 7-1 Final Project Submission with complete solution

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ACC 308 7-1 Final Project Submission with complete solution ACC 308 7-1 Final Project Submission with complete solution Managing Depreciation To calculate the depreciation of Peyton Approved’ ... s equipment I utilized the straight-line method which is calculated by equally distributing the depreciation throughout the asset’s depreciable life. For 2017 Payton Approved’s baking equipment cost $12,000 with an accumulated depreciation equaling $406.44 a year totaling $2032.20 over a five-year period. As shown on the Pro Forma Income Statement and Pro Forma Balance Sheets, depreciation for the new location is estimated at $2,142.86. To manage. Managing Notes Payable On June 1, 2016 Peyton Approved secured a 5-year loan for $15,000, but with the remaining $5,000 due in 2017 the company will be saving on the accumulated 7.5% annual rate. If Peyton Approved decided to pay on the note for the full 5-year term, then the interest paid would be $3,034.15. By paying of the loan in 18 months ($906.34 interest) the company has saved $2127.81 [Show More]

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