1 / 23

ACC 205 ASH Courses/IndigoHelp

For more classes visit <br>www.indigohelp.com<br> <br>ACC 205 Week 1 Assignment Week One Exercises<br>ACC 205 Week 1 Assignment Week One Problems<br>ACC 205 Week 2 Assignment Article Summary<br>

rohan05
Download Presentation

ACC 205 ASH Courses/IndigoHelp

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 AshCourses For more Classes VISIT www.indigohelp.com

  2. ACC 205 AshCourses • ACC 205 Week 1 DQ 1 Accounting Equation • For more classes visit • www.indigohelp.com • 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.  Guided Response:Review several of your peers’ postings and identify some core components that you feel should be included in every transaction.  Respond to at least two of your peers and provide recommendations to extend their

  3. ACC 205 AshCourses • ACC 205 Week 1 DQ 2 Accounts • For more classes visit • www.indigohelp.com • 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’

  4. ACC 205 AshCourses • ACC 205 Week 1 Exercise Assignment Basic Accounting Equations • For more classes visit • www.indigohelp.com • )Basic concepts. Jean's Marine Supply specializes in the sale of boating equipment and acces­sories. Identify the items that follow as an asset (A), liability (L), revenue (R), or expense (E) from the firm's viewpoint.            •  The inventory of boating supplies owned by the company. (A) •  Monthly rental charges paid for store space. (L) •  A loan owed to Citizens Bank. (L) •  New computer equipment purchased to handle daily record keeping. (A)

  5. ACC 205 AshCourses • ACC 205 Week 1 Journal Balance Sheet Journal • For more classes visit • www.indigohelp.com • Balance Sheet JournaThe 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?Carefully review the Grading Rubric for the criteria that will be used to evaluate your journal entry.

  6. ACC 205 AshCourses • ACC 205 Week 2 DQ 1 Accounting Cycle • For more classes visit • www.indigohelp.com • 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

  7. ACC 205 AshCourses • ACC 205 Week 2 DQ 2 Bank Reconciliation • For more classes visit • www.indigohelp.com • 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.Guided Response:A bank reconciliation reconciles the bank account balance per the books to the actual bank balance.  Outstanding checks, deposits in transit, and bank errors are reasons there are differences between the cash reported in the accounting records and the cash balance in the : 12-16, 12-17, 13-23. 

  8. ACC 205 AshCourses • ACC 205 Week 2 Exercise Assignment Revenue and Expenses • For more classes visit • www.indigohelp.com • 1. Recognition of concepts. Ron Carroll operates a small company that books entertainers for theaters, parties, conventions, and so forth. The company’s fiscal year ends on June 30. Consider the following items and classify each as either (1) prepaid expense, (2) unearned revenue, (3) accrued expense, (4) accrued revenue, or (5) none of the foregoing.a. Amounts paid on June 30 for a 1-year insurance policyb. Professional fees earned but not billed as of June 30c. Repairs to the firm’s copy machine, incurred and paid in Juned. An advance payment from a client for a performance next month at a conventione. The payment in part (d) from the client’s point of viewf. Interest owed on the company’s

  9. ACC 205 AshCourses • ACC 205 Week 2 Journal Income Statement Journal • For more classes visit • www.indigohelp.com • 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?Carefully review the Grading Rubric for the criteria that will be used to evaluate

  10. ACC 205 AshCourses • ACC 205 Week 3 DQ 1 LIFO vs. FIFO • For more classes visit • www.indigohelp.com • 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? Guided Response:Analyze several of your

  11. ACC 205 AshCourses • ACC 205 Week 3 DQ 2 Depreciation • For more classes visit • www.indigohelp.com • 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?  Guided Response:Let at least two of your

  12. ACC 205 AshCourses • ACC 205 Week 3 Exercise Assignment Inventory • For more classes visit • www.indigohelp.com • Specific identification method. Boston Galleries uses the specific identification method for inventory valuation. Inventory information for several oil paintings follows. •                                         Painting •                      Cost • 1/2 Beginning inventory • Woods • $11,000 • 4/19 Purchase

  13. ACC 205 AshCourses • ACC 205 Week 3 Journal Inventory Journal • For more classes visit • www.indigohelp.com • 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?Carefully review the Grading Rubric for the criteria that

  14. ACC 205 AshCourses • ACC 205 Week 4 DQ 1 Current Liability • For more classes visit • www.indigohelp.com • 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.Guided Response:Review several of

  15. ACC 205 AshCourses • ACC 205 Week 4 DQ 2 Client Recommendations • For more classes visit • www.indigohelp.com • 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.  Let at least two of your peers posts know if an alternative choice of two of your

  16. ACC 205 AshCourses • ACC 205 Week 4 Exercise Assignment Liability • For more classes visit • www.indigohelp.com • Partner investments; journal entries. The LP partnership was formed on January 1, 19X7, by investments from Bill Levy and Marv Parcells. Levy contributed $30,000 cash and $80,000 of land. Parcells contributed cash of $50,000 and equipment with a value of $20,000. • a.    Prepare the journal entries needed to record the investments of Levy and Parcells. • 2. Payroll accounting. Assume that the following tax rates and payroll information pertain to Brookhaven Publishing: • · 

  17. ACC 205 AshCourses • ACC 205 Week 4 Journal Future Obligations Journal • For more classes visit • www.indigohelp.com • 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?Carefully review the Grading Rubric for the criteria that will be used to evaluate

  18. ACC 205 AshCourses • ACC 205 Week 5 DQ 1 • For more classes visit • www.indigohelp.com • ACC 205 Week 5 DQ 1

  19. ACC 205 AshCourses • ACC 205 Week 5 DQ 2 • For more classes visit • www.indigohelp.com • ACC 205 Week 5 DQ 2

  20. ACC 205 AshCourses • ACC 205 Week 5 Exercise Assignment Financial Ratios • For more classes visit • www.indigohelp.com • 1.      Liquidity ratios. Edison, Stagg, and Thornton have the following financial information at the close of business on July 10: • Edison • Stagg • Thornton • Cash

  21. ACC 205 AshCourses • ACC 205 Week 5 Final Paper Paper • For more classes visit • www.indigohelp.com • 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.   In this analysis you will discuss the financial health of this company with the ultimate goal of making a recommendation to other investors.   Your paper should consist of the following sections: introduction, company overview, horizontal analysis, ratio analysis, final recommendation, and conclusions.  Here is a breakdown of the sections within the body of the assignment:  Company Overview 

  22. ACC 205 AshCourses • ACC 205 Week 5 Journal Most Important Ratio Journal • For more classes visit • www.indigohelp.com • 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.Carefully review the Grading Rubric for the criteria that will be used to evaluate your journal entry.

  23. ACC 205 AshCourses A+ Grades

More Related