ACC 305(ASH) Invent Youself/uophelp.com

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ACC 305(ASH) Invent Youself/uophelp.com

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Entire Course (DQs, Assignment, Quizzes)
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• Please check All included Assignments/DQs/Quiz
  Below
• ACC 305 Week 1 Assignments E 3-18, E 3-20,
  Judgement Case 3-5
• ACC 305 Week 1 DQ 1 FASB and Ethics
• ACC 305 Week 1 DQ 2 Cash versus Accrual
  Financial Disclosures
• ACC 305 Week 1 Quiz (2 Set)
• ACC 305 Week 2 DQ 1 Earnings Management Case 4-3
• ACC 305 Week 2 DQ 2 Revenue Recognition Case 5-2

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 1 Assignments E 3-18, E 3-20,
  Judgement Case 3-5
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• Week One Exercises. Complete the following
  activities and submit your answers to your
  instructor in a Word document formatted to proper
  APA specifications. Include any relevant
  supporting calculations. E3-18 (Page 152)
  Determine the following 2011 balance sheet items
  using the information provided in the problem. 1.
  Current Assets 2. Shareholders Equity 3.
  Noncurrent Assets 4. Long-term liabilities E3-20
  (Page 152) Indicate (by letter) whether the
  actions listed in the table will immediately
  increase (I), decrease (D), or have no effect (N)
  on the ratios shown in the table. Assume each
  ratio is less than 1.0 before the action is
  taken. Judgment Case 3-5 (Page 161) Review the
  balance sheet provided for Marcus Clothing

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 1 DQ 1 FASB and Ethics
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• Research Case 1-3 (page 45)
• The purpose of this case is to introduce you to
  the information available on the website of the
  Financial Accounting Standards Board (FASB).
• Required
• Access the FASB home page on the Internet. The
  web address is www.fasb.org. Answer the following
  questions.
• 1. Describe the mission of the FASB.

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 1 DQ 2 Cash versus Accrual
  Financial Disclosures
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• Judgment Case 2-1 (page 109)
• You have recently been hired by Davis Company,
  a small public accounting firm. One of the firms
  partners, Alice Davis, has asked you to deal with
  a disgruntled client, Mr. Sean Pitt, owner of the
  citys largest hardware store. Mr. Pitt is
  applying to a local bank for a substantial loan
  to remodel his store. The bank requires accrual
  based financial statements but Mr. Pitt has
  always kept the companys records on a cash
  basis. He does not see the purpose of accrual
  based statements. His most recent outburst went
  something like this After all, I collect cash
  from customers, pay my bills in cash, and I am
  going to pay the bank loan with cash. And, I
  already show my building and equipment as assets
  and depreciate them. I just dont understand the
  problem.

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 1 Quiz (2 Set)
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• ACC 305 Week 1 Quiz (2 Set)
• 1. Question Rent collected in
  advance is
• 2. Question An exception leading
  to a qualified opinion would not include
• 3. Question The principal
  concern with accounting for related party
  transactions is

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 2 Assignment (E4-16, E4-19, E4-22,
  Case 4-9, E5-3, E5-10)
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• E4-16 Bluebonnet Bakers
• E4-19 Wainwright Corporation
• E4-22 Tiger Enterprises
• Judgment Case 4-9
• E5-3 Instalment sales
• E5-10 Project Contracts

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 2 Assignment Integrating Case 5-23
  (Covington Pike)
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• ACC 305 Week 2 Problem Integrating Case 5-23
• Integrating Case. Review the information
  pertaining to the audit of Covington Pike
  Corporation in problem 5-23 on pages 296-297 of
  your text. Use the list of ratios and the notes
  provided to approximate the current years
  balances in the form of a balance sheet and
  income statement, to the extent the information
  allows. Accompany those financial statements with
  calculations you use to estimate each amount
  reported

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 2 DQ 1 Earnings Management Case 4-3
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• Judgment Case 4-3 (page 225)
• Companies often are under pressure to meet or
  beat Wall Street earnings projections in order to
  increase stock prices and also to increase the
  value of stock options. Some resort to earnings
  management practices to artificially create
  desired results.
• Required
• Is earnings management always intended to produce
  higher income? Explain.

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 2 DQ 2 Revenue Recognition Case 5-2
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• Judgment Case 5-2 (page 291)
• Revenue earned by a business enterprise is
  recognized for accounting purposes at different
  times, according to the circumstances. In some
  situations revenue is recognized approximately as
  it is earned in the economic sense. In other
  situations revenue is recognized at point of
  delivery.

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 2 Quiz
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• ACC 305 Week 2 Quiz
• 1. Question Indiana Co. began a construction
  project in 2006 that will provide it 150
• million when it is completed in 2008. During
  2006, Indiana incurred 36 million
• of costs and estimates an additional 84 million
  of costs to complete the
• project.
• Suppose that, in 2007, Indiana incurred costs of
  63.75 million and estimated
• an additional 42.75 million in costs to complete
  the project. Using the

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 3 Assignment (P7-10, P7-14)
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• AP7-10 (pg388) Evergreen Company
• Required
• REQ1- prepare the necessary journal entries for
  Evergreen for each of the about dates. For
  transactions involving the sale of merchandise,
  ignore the entry for the cost of goods sold
  (round all calculations to nearest dollar).
• REQ2-prepare any necessary adjusting entries at
  December 21, 2011. Adjusting entries are only
  recorded at year-end (round all calculations to
  nearest dollar).
• REQ3-prepare a schedule showing the effect of the
  journal entries in requirement 1 and 2 on 2011
  income before taxes

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 3 DQ 1 Present Value of Annuities
  (Communication Case 6-3)
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• ACC 305 Week 3 Communication Case 6-3
• Communication Case 6-3 on page 334
• Harvey Alexander, an all-league professional
  football player, has just declared free agency.
  Two teams, the San Francisco 49ers and the Dallas
  Cowboys, have made Harvey the following offers to
  obtain his services
• 49ers 1 million signing bonus payable
  immediately and an annual salary of 1.5 million
  for the five-year term of the contract.

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 3 DQ 2 Internal Control (Judgment
  Case 7-5)
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• ACC 305 Week 3 Judgment Case 7-5
• Judgment Case 7-5 on page 391
• For each of the following independent situations,
  indicate the apparent internal control weaknesses
  and suggest alternative procedures to eliminate
  the weaknesses.
• 1. John Smith is the petty cash custodian. John
  approves all requests for payment out of the 200
  fund, which is replenished at the end of each
  month.

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 3 Quiz (2 Set)
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• ACC 305 Week 3 Quiz (2 Set
• 1. Question On November 10 of
  the current year, Cherokee Industries sold
  materials to a customer for 8,000 with credit
  terms 2/10, n/30. Cherokee uses the net method of
  accounting for cash discounts.
• What entry would Cherokee make on November 10?
• 2. Question Cash that is
  restricted and not available for current
  operations is reported in the balance sheet as

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 4 Assignment E8-13, E8-14, E8-18,
  P8-5, E9-19, E9-21, P9-1 (Ash Course)
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• ACC 305 Week 4 Assignment E8-13, E8-14, E8-18,
  P8-5, E9-19, E9-21, P9-1.

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 4 DQ 1 LIFO vs FIFO (Communication
  Case 8-4)
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• AC 305 Week 4 Communication Case 8-4
• Communication Case 8-4 on page 442
• You have just been hired as a consultant to
  Tangier Industries, a newly formed company. The
  company president, John Meeks, is seeking your
  advice as to the appropriate inventory method
  Tangier should use to value its inventory and
  cost of goods sold. Mr. Meeks has narrowed the
  choice to LIFO and FIFO. He has heard that LIFO
  might be better for tax purposes, but FIFO has
  certain advantages for financial reporting to
  investors and creditors. You have been told that
  the company will be profitable in its first year
  and for the foreseeable future.
• Required

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 4 DQ 2 Overstatement of Ending
  Inventory (Ethics Case 9-11)
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• AEthics Case 9-11 on page 497
• Danville Bottlers is a wholesale beverage
  company. Danville uses the FIFO inventory method
  to determine the cost of its ending inventory.
  Ending inventory quantities are determined by a
  physical count. For the fiscal year- end June 30,
  2011, ending inventory was originally determined
  to be 3,265,000. However, on July 17, 2011, John
  Howard, the companys controller, discovered an
  error in the ending inventory count. He
  determined that the correct ending inventory
  amount should be 2,600,000.

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 4 Quiz (2 Set)
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• ACC 305 Week 4 Quiz (2 Set)
• 1. Question Nu Company reported
  the following pretax data for its first year of
  operations.
• Net sales 2,800 Cost of goods available for sale
  2,500 Operating expenses 880 Effective tax rate
  40 Ending inventories If LIFO is elected 820 If
  FIFO is elected 1,060
• What is Nu's gross profit percentage if it elects
  LIFO?

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 5 Assignment P11-5, P11-7
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• ACC 305 Week 5 P11-5, P11-7
• Operational Assets Depletion. Complete the
  following activities and submit your answers to
  your instructor in a Word document formatted to
  proper APA specifications. Include any relevant
  supporting calculations. P11-5 (Page 608-609)
  Review the information pertaining to Thompson
  Corporation in problem P11-5 on pages 608-609 of
  your text. Supply the correct amount for each
  numbered item on the schedule on page 609. Round
  each number to the nearest dollar. P 11-7 (Page
  610) Review the information pertaining to the
  Marion Company in problem P11-7 on page 610 of
  your text and answer questions 1-3.

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 5 DQ 1 Research and Development
  (Ethics Case 10-12)
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• ACC 305 Week 5 Ethics Case 10-12
• Ethics Case 10-12 on page 553 - Mayer
  Biotechnical, Inc - Research and development ?
  LO8
• Mayer Biotechnical, Inc., develops, manufactures,
  and sells pharmaceuticals. Significant research
  and development (RD) expenditures are made for
  the development of new drugs and the improvement
  of existing drugs. During 2011, 220 million was
  spent on RD. Of this amount, 30 million was
  spent on the purchase of equipment

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 5 DQ 2 Depreciation Methods (Problem
  E11-5, E11-10)
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• Depreciation Methods. From Chapter 11 complete
  E11-5 (page 599) and E11-10 (page 600) and post
  to the discussion board by Day 3. Complete all
  parts of the problems and report back to the
  group the results of your analysis. Do not forget
  to show the necessary steps and explain how you
  attained that outcome. You must respond to at
  least two of your classmates postings to receive
  full credit.

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ACC 305(ASH) Invent Youself/uophelp.com

• ACC 305 Week 5 Final Paper FASB (3 Papers)
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• This Tutorial contains 3 Papers
• Focus of the Final Paper
• Submit a seven to ten page paper on one of the
  major topics listed below. The paper should
  incorporate at least three other appropriately
  documented and related articles drawn from the
  Universitys Library. (Note you may advance your
  own topic, but it must be approved by your
  instructor.)
• Explain the role of the FASB in monitoring and
  controlling business reporting and accounting
  practices in the modern organization. In what
  ways do FASB rules limit business practices and
  reporting financial information? How do such
  rules and regulations protect the business and
  public stakeholder communities? To whom is the
  FASB accountable and who appoints members to
  FASB?

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ACC 305(ASH) Invent Youself/uophelp.com

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