1 / 28

ACC 205 NEW Help Successful Learning/uophelp.com

ACC 205 NEW Help Successful Learning/uophelp.com<br>

kufdu
Download Presentation

ACC 205 NEW Help Successful Learning/uophelp.com

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. ACC 205 Help Successful Learning/uophelp.com For more course tutorials visit www.uophelp.com

  2. For more course tutorials visit www.uophelp.com ACC 205 Week 1 Assignment Student Guidance Report Exercises 2.      Basic computations. The following selected balances were extracted from the accounting records of Rossi Enterprises on December 31, 20X3: a.         Determine Rossi's total assets as of December 31. b.         Determine the company's total liabilities as of December 31. c.         Compute 20X3 net income or loss.

  3. For more course tutorials visit www.uophelp.com ACC 205 Week 1 Chapter 1,2 Quiz and Video Quiz ACC 205 Week 1 Chapter 1,2 Quiz and Video Quiz 1. In accounting the concept of materiality refers to ________________.       Question 2. 2. Typically accounting transactions are recorded and reported at _______________. Question 3. 3. The accounting equation is ____________________________. 

  4. For more course tutorials visit www.uophelp.com ACC 205 Week 1 DQ 1 Accounting Equation (New) As you have learned in this week’s readings the Accounting Equation is + Owners’ Equity.  Is the accounting equation true in all instances?  Provide sample transactions from your own experiences to demonstrate the validity of the Accounting Equation.  

  5. For more course tutorials visit www.uophelp.com ACC 205 Week 1 DQ 2 Accounts (New) What does the term “account” mean?  What are the different classifications of accounts?  How do the rules for Debits and Credits impact accounts?  Please provide an example of how debits and credits impact accounts.Guided Response: Analyze several of your peers’ postings.  Let at least two of your peers know if this knowledge could be used in their everyday lives.  Is so, how?  If not, why not?

  6. For more course tutorials visit www.uophelp.com ACC 205 Week 1 Journal Balance Sheet Journal (New) Balance Sheet JournalThe Balance Sheet is a financial snap shot of a company at  a particular point in time.  The Balance Sheet lists the assets, liabilities, and equity of the company.  Reflect on your personal financial situation, can you apply the concepts of the Balance Sheet?  What did you learn from this reflection?

  7. For more course tutorials visit www.uophelp.com ACC 205 Week 2 Assignment Student Guidance Report Exercise 4 4. Accounting for prepaid expenses and unearned revenues. Hawaii-Blue began business on January 1 of the current year and offers deep-sea fishing trips to tourists. Tourists pay $125 in advance for an all-day outing off the coast of Maui. The company collected monies during January for 210 outings, with 30 of the tourists not planning to take their trips until early February.

  8. For more course tutorials visit www.uophelp.com ACC 205 Week 2 Chapter 3,4 Quiz and Video Quiz ACC 205 Week 2 Chapter 3,4 Quiz and Video Quiz 1. The accrual basis of accounting means_______________________.       Question 2. 2. Under accrual basis accounting revenue is not recognized until _________________.           Question 3. 3. The matching principle states ______________________________.         

  9. For more course tutorials visit www.uophelp.com ACC 205 Week 2 DQ 1 Accounting Cycle (New) Financial statements are a product of the accounting cycle.  Think about two different companies, one a manufacturing company, the other a retail company.  Why would different companies have different accounting cycles?  Would you expect the steps of the accounting cycle to be the same for each company?  Why or why not? Guided Response:

  10. For more course tutorials visit www.uophelp.com ACC 205 Week 2 DQ 2 Bank Reconciliation (New) What is the purpose of a bank reconciliation?  What are the reasons there are differences between the cash reported in the accounting records and the cash balance in the bank statements?Analyze several of your peers’ postings.  Let at least two of your peers know what happens to the discrepancies between the book balance and the bank balance.  Could these differences just be written off.

  11. For more course tutorials visit www.uophelp.com ACC 205 Week 2 Journal Income Statement Journal (New) The Income Statement measures the income and expenses of a company over a specific period of time.  Reflecting on your personal financial statement for the past month, can you apply the principles of the Income Statement?  What did you learn from this experience?

  12. For more course tutorials visit www.uophelp.com ACC 205 Week 3 Assignment Student Guidance Report Chapter 5, Exercise 1 Inventory errors and income measurement. The income statements of Keagle Company for 20X3 and 20X4 follow. 20X3                           20X4 Sales                                        $100,000                     $109,000 Cost of goods sold                  62,000                         74,000 Gross profit                             38,000                         35,000 Expenses                                 26,000                         22,000

  13. For more course tutorials visit www.uophelp.com ACC 205 Week 3 Chapter 5,6 Quiz and Video Quiz ACC 205 Week 3 Chapter 5,6 Quiz and Video Quiz   1. Gross Profit is ___________________.       Question 2. 2. All of the following are considered part of inventory cost except__________.        Question 3. 3. In a period of rising raw material costs the inventory cost flow assumption that will provide the firm with the highest net income would be _______________________.     

  14. For more course tutorials visit www.uophelp.com ACC 205 Week 3 DQ 1 LIFO vs. FIFO (New) The controller of Sagehen Enterprises believes that the company should switch from the LIFO method to the FIFO method.  The controller’s bonus is based on the next income.  It is the controller’s belief that the switch in inventory methods would increase the net income of the company.  What are the differences between the LIFO and FIFO methods? 

  15. For more course tutorials visit www.uophelp.com ACC 205 Week 3 DQ 2 Depreciation (New) There is a variety of depreciation methods used to allocate the cost of an asset to all of the accounting periods benefited by the use of the asset.  Your client has just purchased a piece of equipment for $100,000.  Explain the concept of depreciation.  Which of the following depreciation methods would you recommend: straight-line depreciation, double declining balance method, or an alternative method?  

  16. For more course tutorials visit www.uophelp.com ACC 205 Week 3 Journal Inventory Journal (New) Reflect for a moment on the LIFO (Last in First Out) and FIFO (First in First Out) inventory methods. If you were starting a small manufacturing company, what inventory method do you believe would provide the most accurate financial statements? Why do you believe this is the case?

  17. For more course tutorials visit www.uophelp.com ACC 205 Week 4 Assignment Student Guidance Report Chapter 7 Exercise 2 and 4 2.         Accrued liability: current portion of long-term debt. On July 1, 20X1, Hall Company borrowed $225,000 via a long-term loan. Terms of the loan require that Hall pay interest and $75,000 of principal on July 1, 20X2, 20X3, and 20X4. The unpaid balance of the loan accrues interest at the rate of 10% per year. Hall has a December 31 year-end.

  18. For more course tutorials visit www.uophelp.com ACC 205 Week 4 Chapter 7,8 Quiz and Video Quiz ACC 205 Week 4 Chapter 7,8 Quiz and Video Quiz 1. Current Liabilities are _____________________________. (Points : 1) Question 2. 2. The Unearned Revenue account is used to record ____________________. (Points : 1) Question 3. 3. A contingent liability like a lawsuit is required to be recorded when the probability of an unfavorable outcome is __________________. (Points : 1)

  19. For more course tutorials visit www.uophelp.com ACC 205 Week 4 DQ 1 Current Liability (New) What is a current liability?  From a user of financial statements perspective why do you believe current liabilities are separated from long-term liabilities?  Based on your current experience and any additional research you may have done provide two examples of situations where businesses collect monies from customers and employees and reports these amounts as a current liability.

  20. For more course tutorials visit www.uophelp.com ACC 205 Week 4 DQ 2 Client Recommendations (New) A client comes to you thinking about starting a consulting business.  Specifically your client is interested in what type of entity should be created for this new business.  Based on your readings or any additional research you may have done, discuss the advantages and disadvantages of the following: sole proprietorship, partnership, and corporation.  Based on these advantages and disadvantages provide a clear recommendation to your client.  

  21. For more course tutorials visit www.uophelp.com ACC 205 Week 4 Journal Future Obligations Journal (New) The current liability section of the balance sheet lists the liabilities that are due within the next 12 months.  Reflecting on your current financial situation, apply the concept of current liabilities.  What does this analysis tell you about your future obligations?  What did you learn from this experience?

  22. For more course tutorials visit www.uophelp.com ACC 205 Week 5 Assignment Student Guidance Report Chapter 9 Exercise 3 Liquidity ratios. Edison, Stagg, and Thornton have the following financial information at the close of business on July 10: Compute the current and quick ratios for each of the three companies. (Round calculations to two decimal places.) Which firm is the most liquid? Why?

  23. For more course tutorials visit www.uophelp.com ACC 205 Week 5 Chapter 9 Quiz and Video Quiz ACC 205 Week 5 Chapter 9 Quiz and Video Quiz Question 1. 1. Common-size financial statements means___________________.    Question 2. 2. Vertical analysis of a financial statement involves_______________.    Question 3. 3. Horizontal analysis of a financial statement involves______________.   

  24. For more course tutorials visit www.uophelp.com ACC 205 Week 5 DQ 1 (New) ACC 205 Week 5 DQ 1 (New)

  25. For more course tutorials visit www.uophelp.com ACC 205 Week 5 DQ 2 (New) ACC 205 Week 5 DQ 2 (New)

  26. For more course tutorials visit www.uophelp.com ACC 205 Week 5 Final Paper Paper (Walmart, Qualcomm) (2 Papers) This Tutorial contains 2 Papers Paper 1: Walmart Paper 2: Qualcomm Final PaperFocus of the Final PaperWrite a five to seven page financial statement analysis of a public company, and formatted according to APA style as outlined in the Ashford Writing Center.  

  27. For more course tutorials visit www.uophelp.com ACC 205 Week 5 Journal Most Important Ratio Journal (New) Most Important Ratio Journal Reflect for a moment on the ratios (working capital, current ratio, quick ratio, debt to asset, debt to equity, times interest earned, gross margin and net margin) presented this week.  If you were considering investing in a company what ratio would be the most important to you?  Formulate and argument to defend your position.

  28. ACC 205 Help Successful Learning/uophelp.com For more course tutorials visit www.uophelp.com

More Related