ACC 290 (New) Endless Education /newtonhelp.com

1
ACC 290 (New) Endless Education /newtonhelp.com
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ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Final Exam Guide (New, 2018, 100 Score)
• For more course tutorials visit
• www.newtonhelp.com
•   
•  
• Question 1
•  
• The best definition of assets is the
•  
• collections of resources belonging to the company
  and the claims on these resources.
•  
• cash owned by the company.
•  
• owners investment in the business.

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ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 1 Apply Connect Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Week 1 Apply Connect Assignment
• Complete the Week 1 Assignment in Connect.
• Note You have only 1 attempt available to
  complete assignments.

4
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 1 Assignment Preparing an Income
  Statement Retained Earnings Statement and Balance
  Sheet
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Purpose of Assignment 
• The purpose of this assignment is to help
  students become familiar with the presentation of
  the income statement and the retained earnings
  statement, including how parts of the financial
  statement is evaluated to determine the
  operational success of the business. 

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ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 1 Discussion Question 1
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Week One - DQ 1
• What are the four basic financial statements?
  What is the primary purpose of each of the four
  basic financial statements? In your opinion,
  which financial statement is the most important?
  Explain why. How would the financial statements
  be useful to managers and employees? How would
  the financial statements be useful to investors
  and creditors?

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ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 1 Discussion Question 2
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• What are debits and credits? How are debits and
  credits used to record business transactions? 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?
•  

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ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 1 Individual Assignment Financial
  Statements Paper
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Individual - Financial Statements Paper - Prepare
  a 700 -1,050 word paper in which you identify the
  four basic financial statements.  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. 

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ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 1 Practice Connect Practice
  Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Week 1 Practice Connect Practice
  Assignment
• Complete the Week 1 Practice in Connect.
• Note You have unlimited attempts available to
  complete practice assignments

9
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 1 Practice Quiz(New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Question 1
•  
•              Current assets are expected to be
  converted to cash or consumed within the next
  year or the normal operating cycle, whichever is
  longer.
•              
• Current assets are economic resources that are
  expected to be converted to cash or used up by
  the business within one year or the normal
  operating cycle, whichever is shorter.

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ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 1 Vocabulary Activity (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• WileyPLUS Assignment Week 1 Vocabulary Activity
• Resource WileyPLUS
• Complete the following Week 1 Assignment in
  WileyPLUS
• Chapter 1 WileyPLUS Crossword Puzzle 1
•  

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ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 1 WileyPlus Assignment DI1-3,
  E1-3,E1-4, E2-4, IFRS2-4 (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• WileyPLUS Assignment Week 1 Assignment
• Resource WileyPLUS
• Complete the following Week 1 Assignment in
  WileyPLUS
• DO IT! 1-3
• Exercise 1-3
• Exercise 1-4
• Exercise Excel E 2-4

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ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 2 Apply Connect Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Week 2 Apply Connect Assignment
• Complete the Week 2 Assignment in Connect.
•  
• Note You have only 1 attempt available to
  complete assignments
•  

13
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 2 Chapter 1,2,3 Orion WileyPlus
  Proficiency and Practice Quiz
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Chapter 1 Orion WileyPlus Build your
  Proficiency
•  
•  
• Q 1.1 What is the primary purpose of the
  statement of cash flows?  
• Q 1.2 Which financial statement summarizes the
  financial position of a company?
• Q 1.3 Which financial statement provides
  information for a specific point in time?

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ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 2 Charter for Collaborative Learning
  Activities
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Resources Week 2 Learning Team Collaborative
  Discussion and the Learning Team Charter for
  Collaborative Learning Activities
• Write a 150- to 200-word individual response to
  the following
•          Consider the multiple definitions of
  collaboration.
•          Define collaboration and how you will
  apply it in this course based upon the discussion
  with your Learning Team. Be sure to reference and
  cite your sources.

15
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 2 Discussion Question 1
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• What is the revenue recognition principle? What
  is the expense recognition principle? Why are
  they important to financial reporting?
• What are adjusting entries and why are they
  necessary?

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ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 2 Discussion Question 2
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• What accounts are subject to adjusting journal
  entries and why?
• How would you explain the purpose of the adjusted
  trial balance?
•  

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ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 2 E3-1 (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• The balance sheet makes sure that the finances
  are in balance. Below is a list of Thyme
  Advertising Company, Inc. transactions. Each of
  these is affected differently.
• Issued common stock to investors in exchange for
  cash received from investors.
•  
• Paid monthly rent.

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ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 2 LT Reflection Summary (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Discuss the objectives for ACC 290 Week Two. 
• What do you think will be the most important of
  the skills learned when you are in an accounting
  position? 
• Differentiate between accrual basis and cash
  basis of accounting. 

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ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 2 LT Reflection Summary (New)
• www.newtonhelp.com
•  
•  
•  
• Discuss the objectives for ACC 290 Week Two. 
• What do you think will be the most important of
  the skills learned when you are in an accounting
  position? 
• Differentiate between accrual basis and cash
  basis of accounting. 
• Create Adjusting Entries.

20
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 2 Practice Connect Practice
  Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Week 2 Practice Connect Practice
  Assignment
• Complete the Week 2 Practice in Connect.
• Note You have unlimited attempts available to
  complete practice assignments

21
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 2 Practice Quiz (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Question 1
• Expenses decrease retained earnings.
• Question 2
• During 2014, Gibson Company assets decreased
  50,000 and its liabilities decreased 90,000.
  Its stockholders equity
• Question 3
• Payment of a dividend

22
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 2 Vocabulary Activity (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• WileyPLUS Assignment Week 2 Vocabulary Activity
•  
• Resource WileyPLUS
•  
• Complete the following Week 2 Assignment in
  WileyPLUS
•  
• Chapter 2 Wiley PLUS Crossword Puzzle 1

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ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 2 WileyPlus Assignment BYP2-2,
  IFRS2-6, E3-4, E3-8, BYP 3-2, IFRS 3-2, P3-5,
  P3-6 (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• WileyPLUS Assignment Week 2 Assignment
•  
• Resource WileyPLUS
•  
• Complete the following Week 2 Assignment in
  WileyPLUS

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ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 3/4 Learning Team Financial
  Reporting Problem, Part 1 (2 Different
  Papers)(New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Financial Reporting Problem Part I
•  
• Browse the Internet to acquire a copy of the most
  recent annual report for a publicly traded
  company. Analyze the information contained in the
  companys balance sheet and income statement to
  answer the following questions

25
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 3 Apply Connect Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Week 3 Apply Connect Assignment
• Complete the Week 3 Assignment in Connect.
• Note You have only 1 attempt available to
  complete assignments
• 1
• On October 1, 2019, Helen Kennedy opened an
  advertising agency.

26
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 3 Chapter 4,5 Orion WileyPlus
  Proficiency and Practice Quiz
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Chapter 4 Orion WileyPlus Build your
  Proficiency
•  
•  
• Q 4.1              Which of the following
  statements about accrual-basis accounting is NOT
  true?
• Q 4.2              If a company spends 12
  million dollars for a warehouse, when should the
  cost be written off?
• Q 4.3 If an expense has been used or consumed
  but a bill has not been received at the end of
  the accounting period, which of the following is
  needed?

27
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 3 Discussion Question 1
• www.newtonhelp.com
•  
•  
•  
• What are the steps in completing the accounting
  cycle? How do the different steps affect the
  financial statements? What is the effect on the
  financial statements of missing a step when
  completing the accounting cycle? What are the
  four closing journal entries? 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?

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ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 3 Discussion Question 2
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• 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? How has automation
  aided the preparation, accuracy, and use of the
  financial statement worksheet?
•  

29
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 3 LT Reflection Summary
• www.newtonhelp.com
•  
•  
•  
• Discuss the objectives for ACC 290 Week Two. 
  What do you think will be the most important of
  the skills learned when you are in an accounting
  position?  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
  Teams discussion.

30
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 3 Practice Connect Practice
  Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Week 3 Practice Connect Practice
  Assignment
• Complete the Week3 Practice in Connect.
•  
• Note You have unlimited attempts available to
  complete practice assignments
•  
• 1
• On October 1, 2019, Helen Kennedy opened an
  advertising agency.
•  
• DATE TRANSACTIONS

31
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 3 Practice Quiz (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Question 1
•  
• The revenue recognition principle dictates that
  revenue is recognized in the period in which the
  cash is received.            
•  
• Question 2
•  
• The generally accepted accounting principle which
  dictates that revenue be recognized in the
  accounting period in which the performance
  obligation is satisfied is the
•  

32
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 3 Problem 5-5A (Simon Company)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Purpose of Assignment 
• The purpose of this assignment is to help you
  become familiar with the parts of the
  multiple-step income statement.
• Assignment Steps 
• Resources Financial Accounting Tools for
  Business Decision Making

33
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 3 Vocabulary Activity (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• WileyPLUS Assignment Week 3 Practice Quiz
• Resource WileyPLUS
• Complete the following Week 3 Assignment in
  WileyPLUS
• Chapter 4 Practice Quiz
•  

34
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 3 WileyPlus Assignment BE4-1, P4-2A,
  P4-3A, BYP4-1, IFRS PQ-1, PQ-2, PQ-3, PQ-4 (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Assignment Week 3 Assignment
• Complete the following Week 3 Assignment
• Brief Exercise 4-1
• Problem 4-2A
• Problem 4-3A

35
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 4/5 Individual Assignment Financial
  Reporting Problem Part II (2 Different
  Papers)(New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Financial Reporting Problem Part II
• Access the internet to acquire a copy of the most
  recent annual report for the public traded
  company used to complete the Financial Reporting
  Problem, Part 1 assignment due in ACC 290 Week
  Four.  Analyze the information contained in the
  companys balance sheet and income statement to
  answer the following questions

36
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 4 Apply Connect Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Week 4 Apply Connect Assignment
• Complete the Week 4 Assignment in Connect.
•  
• Note You have only 1 attempt available to
  complete assignments
•  
• 1
• Paula Judge owns Judge Creative Designs. The
  trial balance of the firm for January 31, 2019,
  the first month of operations, is shown below.

37
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 4 Chapter 6 Orion WileyPlus
  Proficiency and Practice Quiz
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Chapter 6 Orion WileyPlus Build your
  Proficiency
•  
•  
• Q 6.1              Where is inventory reported?
• Q 6.2              ________ are items that will
  eventually be used in production
• Q 6.3 How is inventory ready for sale classified
  in a manufacturing company? 
• Q 6.4 In the perpetual inventory system, which
  of the following is NOT a reason to take physical
  inventory?  

38
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 4 Discussion Question 1
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• How would you calculate cost of goods sold? What
  items make up cost of goods sold? How does
  beginning and ending inventory affect cost of
  goods sold? What are the journal entries a
  merchandising organization would use to record
  the purchase and subsequent sale of merchandise?

39
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 4 Discussion Question 2
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• What are the three different inventory cost flow
  assumptions commonly used in commerce today and
  allowed by generally accepted accounting
  principles? How does a company determine what
  cost flow assumption they should use? 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?

40
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 4 LT Reflection Summary
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Reflection and Financial Reporting Problem Part
  I.
• Discuss the objectives for ACC 290 Week Three. 
  How do they relate to the practice of accounting
  and its uses in business?  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 Teams discussion.

41
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 4 Practice Connect Practice
  Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Week 4 Practice Connect Practice
  Assignment
• Complete the Week 4 Practice in Connect.
• Note You have unlimited attempts available to
  complete practice assignments.
• attempt 1
• 1

42
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 4 Practice Quiz (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Question 1
•  
•    A service company's operating cycle is
  ordinarily shorter than that of a merchandising
  company.
• The operating cycle of a merchandising company is
  ordinarily shorter than that of a service
  company.
•  

43
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 4 Vocabulary Activity (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• WileyPLUS Assignment Week 4 Vocabulary Activity
• Resource WileyPLUS
• Complete the following Week 4 Assignment in
  WileyPLUS
• Chapter 5 Crossword Puzzle 1
•  

44
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 4 Wileyplus Assignment P4-8A,
  BYP5-1, BYP5-2, BE5-1, BE5-2, IFRS5-2, IFRS5-4,
  PQ-1, PQ-2, PQ-3 (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Week 4 Assignment
• Complete the following Week 4 Assignment in
• Problem 4-8A
• Brief Exercise 5-1
• Brief Exercise 5-2

45
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 4Evaluate The Inventory Section Of
  Two companies Using Basic Comparative Analysis
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• The purpose of this assignment is to evaluate the
  inventory section of two companies using basic
  comparative analysis, and to interpret the data
  to gain insight about the company's inventory
  management.
• Assignment Steps 

46
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 5 Apply Connect Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• 1
• On December 31, after adjustments, Gonzalez
  Companys ledger contains the following account
  balances
•  
•  
• 101 Cash 30,200 Dr.
• 111 Accounts Receivable 16,100 Dr.

47
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 5 Discussion Question 1
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• What is the control environment? How does the
  control environment affect a companys internal
  controls? What are the negative and positive
  elements of a control environment? What are two
  examples of strong and weak internal controls in
  organizations where you have worked or have
  first-hand knowledge? How are these different?

48
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 5 IFRS Paper (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• IFRS 2-1 In what ways does the format of a
  statement of financial of position under IFRS
  often differ from a balance sheet presented under
  GAAP?
• IFRS 2-2 Do the IFRS and GAAP conceptual
  frameworks differ in terms of the objective of
  financial reporting? Explain.

49
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 5 Learning Team Reflection Summary
  (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Reflection and Financial Reporting Problem Part
  II.
• Discuss the objectives for ACC 290 Week Four.  In
  the wake of accounting scandals over the past
  several years, how has the Sarbanes-Oxley Act
  (SOX) of 2002 affected the practice of
  accounting? What is the role of internal controls
  in complying with SOX (2002)?  Write a 350 to 500
  word summary of your Learning Teams discussion.

50
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 5 Practice Connect Practice
  Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Week 5 Practice Connect Practice
  Assignment
• Complete the Week 5 Practice in Connect.
• Note You have unlimited attempts available to
  complete practice assignments.
• attempt 1
• 1

51
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 5 Preparing Comprehensive Bank
  Reconciliation (Daisey Company)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Purpose of Assignment
• Reconciling bank accounts is a good way to help
  maintain internal controls over cash. With time
  lags and posting errors it is easy for cash
  transactions to be omitted, recorded in a
  different accounting period, or reflect incorrect
  amounts. This assignment with give you practical
  experience in reconciling the cash balance as
  noted on the company books to the bank's records.

52
ACC 290 (New) Endless Education /newtonhelp.com

• ACC 290 Week 5 WileyPlus Assignment BE6-5, BE6-7,
  BYP6-1, BYP6-2, BE7-4, BE7-6, IFRS PQ-1, PFRS
  PQ-2(New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Assignment Week 5 Assignment
• Complete the following Week 5 Assignment
• IFRS Practice Question 1
• IFRS Practice Question 2
• Brief Exercise 6-5
• Brief Exercise 6-7
• BYP 6-1

53
ACC 290 (New) Endless Education /newtonhelp.com