ACC 205(new) To exceed, you must read/Uophelpdotcom

1
ACC 205(new) To exceed, you must
read/Uophelpdotcom

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2
ACC 205 Entire Course (New)

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•  
• ACC 205 Week 1 DQ 1 Accounting Equation
• ACC 205 Week 1 DQ 2 Accounts
• ACC 205 Week 1 Journal Balance Sheet Journal
• ACC 205 Week 2 DQ 1 Accounting Cycle
• ACC 205 Week 2 DQ 2 Bank Reconciliation
• ACC 205 Week 2 Journal Income Statement Journal
• ACC 205 Week 3 DQ 1 LIFO vs. FIFO
• ACC 205 Week 3 DQ 2 Depreciation
• ACC 205 Week 3 Journal Inventory Journal
• ACC 205 Week 4 DQ 1 Current Liability
• ACC 205 Week 4 DQ 2 Client Recommendations
• ACC 205 Week 4 Journal Future Obligations Journal
• ACC 205 Week 5 Journal Most Important Ratio
  Journal
• ACC 205 Week 5 Journal Most Important Ratio
  Journal
• ACC 205 Week 5 Exercise Assignment Financial
  Ratios
• ACC 205 Week 4 Exercise Assignment Liability

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ACC 205 Week 1 DQ 1 Accounting Equation (New)

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•  
• As you have learned in this weeks 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 ResponseReview
  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 thinking. 

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ACC 205 Week 1 DQ 2 Accounts (New)

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•  
• 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?

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ACC 205 Week 1 Exercise Assignment Basic
Accounting Equations (New)

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• 1) 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)
• Daily sales made to customers. (R)
•  Amounts due from customers. (R)
•  Land owned by the company to be used as a future
  store site. (A)
•  Weekly salaries paid to salespeople. (E)

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ACC 205 Week 1 Journal Balance Sheet Journal (New)

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• 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?Careful
  ly review the Grading Rubric for the criteria
  that will be used to evaluate your journal entry.
•  

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ACC 205 Week 2 DQ 1 Accounting Cycle (New)

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•  
• 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 ResponseReview several of your
  peers postings and identify what steps of the
  accounting cycle that you feel are the most
  critical.  Respond to at least two of your peers
  and provide recommendations to extend their
  thinking.  Challenge your peers by asking a
  question that may cause them to reevaluate their
  position on the accounting cycle.
•  

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ACC 205 Week 2 DQ 2 Bank Reconciliation (New)

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• 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
  ResponseA 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
  bank statements.  

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ACC 205 Week 2 Exercise Assignment Revenue and
Expenses (New)

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• 1. Recognition of concepts. Ron Carroll operates
  a small company that books entertainers for
  theaters, parties, conventions, and so forth. The
  companys 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 firms 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 clients point of
  viewf. Interest owed on the companys bank
  loan, to be paid in early Julyg. The bank loan
  payable in part (f)h. Office supplies on hand
  at year-end
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ACC 205 Week 2 Journal Income Statement Journal
(New)

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• 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 your journal entry.
•  
•  

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ACC 205 Week 3 DQ 1 LIFO vs. FIFO (New)

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• The controller of Sagehen Enterprises believes
  that the company should switch from the LIFO
  method to the FIFO method.  The controllers
  bonus is based on the next income.  It is the
  controllers 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 ResponseAnalyze
  several of your peers postings.  Let at least
  two of your peers know if a company is better off
  it switches from a LIFO method to a FIFO method? 
  Why or why not? 
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ACC 205 Week 3 DQ 2 Depreciation (New)

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•  
• 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 ResponseLet at least two of your
  peers know if a company would use an accelerated
  depreciation method for their financial
  statements or their tax returns.  Why do you
  believe this would be the case? 
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ACC 205 Week 3 Exercise Assignment Inventory (New)

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•  
• Perpetual inventory system journal entries. At
  the beginning of 20X3, Beehler Company
  implemented a computerized perpetual inventory
  system. The following transactions occurred
• Purchases on account 500 units _at_ 4  2,000
• Sales on account 300 units _at_ 5 1,500
• Purchases on account 600 units _at_ 5   3,000
• Sales on account 300 units _at_ 5 1,500
• a. Prepare journal entries for the above
  purchases and sales.
• b. Calculate the balance in the firms Inventory
  account.
•  
•  Inventory valuation methods computations and
  concepts. Wave Riders Surfboard Company began
  business on January 1 of the current year. Below
  are the transactions for the year

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ACC 205 Week 3 Journal Inventory Journal (New)

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•  
• 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 will be used to evaluate
  your journal entry.
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•  

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ACC 205 Week 4 DQ 1 Current Liability (New)

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•  
•  
• 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 ResponseReview
  several of your peers postings and identify the
  core components of a current liability.  Respond
  to at least two of your peers and provide
  recommendations to extend their thinking. 
  Challenge your peers by asking a question that
  may cause them to reevaluate if their example is
  a current liability.
•  

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ACC 205 Week 4 DQ 2 Client Recommendations (New)

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•   
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• 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 entity
  would be possible.  What would be the benefits of
  this new entity choice?  Would there be any
  disadvantages associated with this new entity
  selection.
•  

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ACC 205 Week 4 Exercise Assignment Liability (New)

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• 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
•   Social Security taxes 6 on the first 55,000
  earned
•   Medicare taxes 1.5 on the first 130,000
  earned
•   Federal income taxes withheld from wages
  7,500
•   State income taxes 5 of gross earnings
•   Insurance withholdings 1 of gross earnings
•   State unemployment taxes 5.4 on the first
  7,000 earned
•   Federal unemployment taxes 0.8 on the first
  7,000 earned
• The company incurred a salary expense of 50,000
  during February. All employees had earned less
  than 5,000 by month-end.
•  

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ACC 205 Week 4 Journal Future Obligations Journal
(New)

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•  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 your journal entry.
•  

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ACC 205 Week 5 DQ 1 (New)

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•   ACC 205 Week 5 DQ 1
•  

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ACC 205 Week 5 DQ 2 (New)

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•   ACC 205 Week 5 DQ 2
•  

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ACC 205 Week 5 Exercise Assignment Financial
Ratios (New)

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• 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?
• Suppose Thornton is using FIFO for inventory
  valuation and Edison is using LIFO. Comment on
  the comparability of information between these
  two companies.
• If all short-term notes payable are due on July
  11 at 8 a.m., comment on each company's ability
  to settle its obligation in a timely manner.
•  

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ACC 205 Week 5 Final Paper Paper (New)

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• 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 Provide a
  brief overview of your company (one to two
  paragraphs at most).   What industry is it in?  
  What are its main products or services?  Who are
  its competitors?  
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ACC 205 Week 5 Journal Most Important Ratio
Journal (New)

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•  
• 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.
•  
•  

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ACC 205(new) To exceed, you must
read/Uophelpdotcom

• For more course tutorials visit
• www.uophelp.com