ACC 205 OUTLET Help Invent Youself-acc205outlet.com

1
ACC 205 OUTLET Help Invent Youself-acc205outlet.co
m

• FOR MORE CLASSES VISIT
• www.acc205outlet.com

2
ACC 205 Entire Course(New)

• 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

3
ACC 205 Final Paper (New)

• Final Paper
•  
• Focus of the Final Paper
•  
• Write 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.

4
ACC 205 Week 1 DQ 1 Accounting Equation (New)

• Accounting Equation
• 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.

5
ACC 205 Week 1 DQ 2 Accounts (New)

• Accounts
• 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?

6
ACC 205 Week 1 Exercise Assignment Basic
Accounting Equations (New)

• Week One Assignment
• 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)

7
ACC 205 Week 1 Journal Balance Sheet Journal (New)

• Balance Sheet Journal
•  
• The 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?

8
ACC 205 Week 2 DQ 1 Accounting Cycle (New)

• ACC 205 Week 2 DQ 1
• Accounting Cycle
• 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?

9
ACC 205 Week 2 DQ 2 Bank Reconciliation (New)

• Bank Reconciliation
• 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.

10
ACC 205 Week 2 Exercise Assignment Revenue and
Expenses (New)

• 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
  policy
•  
• b. Professional fees earned but not billed as of
  June 30

11
ACC 205 Week 2 Journal Income Statement Journal
(New)

• ncome Statement Journal
•  
• 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?

12
ACC 205 Week 3 DQ 1 LIFO vs. FIFO (New)

• LIFO vs. FIFO
• 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?

13
ACC 205 Week 3 DQ 2 Depreciation (New)

• Depreciation
• 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?

14
ACC 205 Week 3 Exercise Assignment Inventory (New)

• 1. 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
• Sunset
• 21,800
• 6/7 Purchase
• Earth

15
ACC 205 Week 3 Journal Inventory Journal (New)

• Inventory Journal
•  
•  
• 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?

16
ACC 205 Week 4 DQ 1 Current Liability (New)

• Current Liability
• 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.

17
ACC 205 Week 4 DQ 2 Client Recommendations (New)

• Client Recommendations
• 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.

18
ACC 205 Week 4 Exercise Assignment Liability (New)

• Week Four Exercise Assignment Liability
• 1. 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

19
ACC 205 Week 4 Journal Future Obligations Journal
(New)

• Future Obligations Journal
•  
•  
• 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?

20
ACC 205 Week 5 DQ 1 (New)

• ACC 205 Week 5 DQ 1 (New)

21
ACC 205 Week 5 DQ 2 (New)

• ACC 205 Week 5 DQ 2 (New)

22
ACC 205 Week 5 Exercise Assignment Financial
Ratios(New)

• Week Five Exercise Assignment
• Financial Ratios
• 1. Liquidity ratios. Edison, Stagg, and
  Thornton have the following financial information
  at the close of business on July 10
• Edison
• Stagg
• Thornton
• Cash
• 4,000
• 2,500
• 1,000
• Short-term investments
• 3,000
• 2,500
• 2,000

23
ACC 205 Week 5 Journal Most Important Ratio
Journal(New)

• ACC 205 WeeaMost 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.
• k 5 Journal Most Important Ratio Journal(New)

24
ACC 205 OUTLET Help Invent Youself-acc205outlet.co
m

• FOR MORE CLASSES VISIT
• www.acc205outlet.com