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ACC 290 UOP Course Material ACC 290 Entire Course ACC 290 Final Guide - Accounting 290 Final Exam Study Material • ACC 290 Week 1 DQ 1 ACC 290 Week 1 DQ 2 ACC 290 Week 1 Individual ACC 290 Week 2 DQ 1 ACC 290 Week 2 DQ 2 ACC 290 Week 2 Individual ACC 290 Week 2 LT ACC 290 Week 3 DQ 1 ACC 290 Week 3 DQ 2 ACC 290 Week 3 – Individual ACC 290 Week 3 LT ACC 290 Week 4 DQ 1 ACC 290 Week 4 DQ 2 ACC 290 Week 4 Individual ACC 290 Week 4 Learning • 5) ABC Corporation issues 100 shares of $1 par common stock at $5 per share, which of the following is the correct journal entry? • 6) In the first month of operations, the total of the debit entries to the cash account amounted to $1,400 and the total of the credit entries to the cash account amounted to $600. The cash account has a
ACC 290 UOP Course Material ACC 290 Week 1 Discussion Question One ACC 290 Week 1 Individual Assignment Financial Statements Paper • Explain why. How would the financial statements be useful to managers and employees? How would the financial statements be useful to investors and creditors? • Describe the purpose of each of the four financial statements. Discuss how the financial statements would be useful to internal users, such as to managers and employees. Discuss how the financial statements would be useful to external users, such as investors and creditors. Format paper according to APA standards.
ACC 290 UOP Course Material ACC 290 Week 2 Discussion Question 1 ACC 290 Week 2 Discussion Question 2 • What are adjusting entries and why are they necessary? • What are accruals? Provide examples of accruals. Why do accruals require adjusting entries? • What are deferrals? What are some examples of deferrals? Why do deferrals require adjusting entries? • What accounts are subject to adjusting journal entries and why? • How would you explain the purpose of the adjusted trial balance?
ACC 290 UOP Course Material ACC 290 Week 2 Individual Wiley PLUS Assignment ACC 290 Week 3 - Individual Wiley PLUS Assignment • WileyPLUS and Financial Accounting. • Complete the following in WileyPLUS: Exercise E3-4, Exercise E3-9, Problem 3-5A, Problem 3-6A • Complete the following in WileyPLUS: Brief Exercise BE4-1, Problem P4-2A, and Problem P4-3A
ACC 290 UOP Course Material ACC 290 Week 3 Discussion Question 2 ACC 290 Week 3 Discussion Question one • What are the pros and cons of using reversing entries? Why are reversing entries optional? What is the main purpose of a financial statement worksheet and its benefits? • Why are they necessary? What are reversing entries? Why are they used? What are the pros and cons of using reversing entries? Why are reversing entries optional?
ACC 290 UOP Course Material ACC 290 Week 3 LT Reflection Summary ACC 290 Week 4 Discussion Question 1 • Differentiate between accrual basis and cash basis of accounting. Create Adjusting Entries. Prepare an adjusted trial balance. Write a 350 to 500 word summary of your Learning Team’s discussion. • Why are perpetual inventory systems so much more popular today than back in the early 1960s and earlier? Why would a company employing a perpetual inventory system still take a physical inventory periodically?
ACC 290 UOP Course Material ACC 290 Week 4 Discussion Question 2 ACC 290 Week 4 LT Reflection Summary • How does first in, first out cost flow assumption work? When it is most appropriate to use? How does last in, first out cost flow assumption work? When it is most appropriate to use? How does an average cost flow assumption work? When it is most appropriate to use? • Prepare closing entries, reversing entries, and a post closing trial balance. Prepare a financial statement work sheet. Prepare a classified income statement, retained earnings statement and balance sheet. Write a 350 to 500 word summary of your Learning Team’s discussion.
ACC 290 UOP Course Material ACC 290 Week 4 Team Assignment and Financial ACC 290 Week 4 Wiley Plus Individual Assignment • What are the company’s total current assets at the end of its most recent annual reporting period? • What are the total current assets at the end of the previous annual reporting period? • What in the information above would be important to a potential investor, employee, and so on? • Complete the following in WileyPLUS: Problem P4-8A
ACC 290 UOP Course Material ACC 290 Week 5 Discussion Question 1 ACC 290 week 5 Individual Assignment and Financial • What are the key internal controls that should be in place to protect inventory for a merchandiser that sells highly desirable and very expensive inventory, such as jewelry? Would this be different if the business had a less desirable and less expensive inventory? Explain why or why not. • What are the company’s total current liabilities at the end of the previous annual reporting period? • Considering all the information you have gathered, why might this information be important to potential creditors, investors, and employees?
ACC 290 UOP Course Material ACC 290 Week 5 Reflection Summary ACC 290 Week 5 Wiley Plus Individual Assignment • What is the role of internal controls in complying with SOX (2002)? Write a 350 to 500 word summary of your Learning Team’s discussion. • Complete the following in WileyPLUS: Brief Exercise BE5-1, Brief Exercise BE5-2, Brief Exercise BE6-5, Brief Exercise BE6-7, Brief Exercise BE7-4, and Brief Exercise BE7-6
ACC 290 UOP Course Material Accounting 290 Week 1 Discussion Question Two Accounting 290 Week 2 LT Reflection Summary • Why do accountants debit asset accounts to increase them but credit liability accounts to increase them? Why do accountants debit expenses to increase them but credit revenues to increase them? • Classify transactions using the rules of debit and credit. Journalize basic transactions. Discuss how financial statements would be useful to external users such as investors and creditors. Write a 350 to 500 word summary of your Learning Team’s discussion.
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