ACC 205 OUTLET Successful Learning / acc205outlet.com

1
ACC 205 OUTLET Successful Learning /
acc205outlet.com
2
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Final Paper (New) FOR MORE CLASSES
VISIT www.acc205outlet.com Final PaperFocus of
the Final PaperWrite a five to seven page
financial statement analysis of a public company,
3
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 1 Assignment Student Guidance
Report FOR MORE CLASSES VISIT www.acc205outlet.c
om Exercises 2.        Basic computations. The
following selected balances were extracted from
the accounting records of Rossi Enterprises on
December 31, 20X3
4
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 1 Chapter 1,2 Quiz and Video Quiz
FOR MORE CLASSES VISIT www.acc205outlet.com ACC
205 Week 1 Chapter 1,2 Quiz and Video Quiz  1. In
accounting the concept of materiality refers to
________________.       Question 2. 2. Typically
accounting transactions are recorded and reported
at _______________.
5
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 1 DQ 1 Accounting Equation (Ash)
FOR MORE CLASSES VISIT www.acc205outlet.com Accou
nting 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.  
6
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 1 DQ 2 Accounts (Ash) FOR MORE
CLASSES VISIT www.acc205outlet.com 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.
7
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 1 Exercise Assignment Basic
Accounting Equations (Ash) FOR MORE CLASSES
VISIT www.acc205outlet.com 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.
8
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 1 Journal Balance Sheet Journal
(Ash) FOR MORE CLASSES VISIT www.acc205outlet.co
m 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?
9
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 2 Assignment Student Guidance
Report FOR MORE CLASSES VISIT www.acc205outlet.c
om Exercise 4 4. Accounting for prepaid expenses
and unearned revenues. Hawaii-Blue began business
on January 1 of the current year and offers
deep-sea fishing trips to tourists.
10
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 2 Chapter 3,4 Quiz and Video Quiz
FOR MORE CLASSES VISIT www.acc205outlet.com ACC
205 Week 2 Chapter 3,4 Quiz and Video Quiz 1. The
accrual basis of accounting means_________________
______.       Question 2. 2. Under accrual basis
accounting revenue is not recognized until
_________________.          
11
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 2 DQ 1 Accounting Cycle (Ash) FOR
MORE CLASSES VISIT www.acc205outlet.com ACC 205
Week 2 DQ 1 Accounting Cycle Financial statements
are a product of the accounting cycle. 
12
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 2 DQ 2 Bank Reconciliation (Ash)
FOR MORE CLASSES VISIT www.acc205outlet.com 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?
13
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 2 Exercise Assignment Revenue and
Expenses (Ash) FOR MORE CLASSES
VISIT www.acc205outlet.com 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.
14
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 2 Journal Income Statement Journal
(Ash) FOR MORE CLASSES VISIT www.acc205outlet.co
m Income Statement JournalThe 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?
15
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 3 Assignment Student Guidance
Report FOR MORE CLASSES VISIT www.acc205outlet.c
om Chapter 5, Exercise 1 Inventory errors and
income measurement. The income statements of
Keagle Company for 20X3 and 20X4 follow. 20X3
                          20X4 Sales
                                       100,000
                    109,000
16
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 3 Chapter 5,6 Quiz and Video Quiz
FOR MORE CLASSES VISIT www.acc205outlet.com ACC
205 Week 3 Chapter 5,6 Quiz and Video Quiz   1.
Gross Profit is ___________________.       Questio
n 2. 2. All of the following are considered part
of inventory cost except__________.       
17
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 3 DQ 1 LIFO vs. FIFO (Ash) FOR
MORE CLASSES VISIT www.acc205outlet.com 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. 
18
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 3 DQ 1 LIFO vs. FIFO (New) FOR
MORE CLASSES VISIT www.acc205outlet.com 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? 
19
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 3 DQ 2 Depreciation (Ash) FOR MORE
CLASSES VISIT www.acc205outlet.com Depreciation Th
ere 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?  
20
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 3 Exercise Assignment Inventory
(New) FOR MORE CLASSES VISIT www.acc205outlet.c
om 1. Specific identification method. Boston
Galleries uses the specific identification method
for inventory valuation. Inventory information
for several oil paintings follows.
21
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 3 Journal Inventory Journal (Ash)
FOR MORE CLASSES VISIT www.acc205outlet.com Inven
tory JournalReflect 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?
22
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 4 Assignment Student Guidance
Report FOR MORE CLASSES VISIT www.acc205outlet.c
om Chapter 7 Exercise 2 and 4 2.         Accrued
liability current portion of long-term debt. On
July 1, 20X1, Hall Company borrowed 225,000 via
a long-term loan. Terms of the loan require that
Hall pay interest and 75,000 of principal on
July 1, 20X2, 20X3, and 20X4. The unpaid balance
of the loan accrues interest at the rate of 10
per year. Hall has a
23
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 4 Chapter 7,8 Quiz and Video Quiz
FOR MORE CLASSES VISIT www.acc205outlet.com ACC
205 Week 4 Chapter 7,8 Quiz and Video Quiz   1.
Current Liabilities are __________________________
___. (Points 1)
24
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 4 DQ 1 Current Liability (Ash) FOR
MORE CLASSES VISIT www.acc205outlet.com 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.
25
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 4 DQ 2 Client Recommendations (Ash
FOR MORE CLASSES VISIT www.acc205outlet.com Clien
t 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
26
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 4 Journal Future Obligations Journal
(Ash) FOR MORE CLASSES VISIT www.acc205outlet.co
m Future Obligations JournalThe 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?
27
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 5 Assignment Student Guidance
Report FOR MORE CLASSES VISIT www.acc205outlet.c
om Chapter 9 Exercise 3 Liquidity ratios. Edison,
Stagg, and Thornton have the following financial
information at the close of business on July 10
28
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 5 Chapter 9 Quiz and Video Quiz
FOR MORE CLASSES VISIT www.acc205outlet.com ACC
205 Week 5 Chapter 9 Quiz and Video
Quiz  Question 1. 1. Common-size financial
statements means___________________.    Question
2. 2. Vertical analysis of a financial statement
involves_______________.   
29
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 5 DQ 1 (Ash) FOR MORE CLASSES
VISIT www.acc205outlet.com ACC 205 Week 5 DQ 1
(Ash)
30
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 5 DQ 2 (Ash) FOR MORE CLASSES
VISIT www.acc205outlet.com ACC 205 Week 5 DQ 2
(Ash)
31
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 5 Exercise Assignment Financial
Ratios(New) FOR MORE CLASSES VISIT www.acc205out
let.com 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  
32
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 5 Final Paper Paper (Boeing General
Electric Lowes Home) (3 Papers) FOR MORE
CLASSES VISIT www.acc205outlet.com This Tutorial
contains 3 Papers Paper 1 Boeing Paper 2
General Electric Paper 3 Lowes Home
33
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 5 Final Paper Paper (Microsoft
StarBucks) (2 Papers) FOR MORE CLASSES
VISIT www.acc205outlet.com This Tutorial contains
2 Papers Paper 1 Microsoft Paper 2 StarBucks  
34
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 5 Final Paper Paper (Walmart,
Qualcomm) (2 Papers) FOR MORE CLASSES
VISIT www.acc205outlet.com This Tutorial contains
2 Papers Paper 1 Walmart Paper 2 Qualcomm
35
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 5 Journal Most Important Ratio
Journal (Ash) FOR MORE CLASSES
VISIT www.acc205outlet.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. 
36
ACC 205 OUTLET Successful Learning /
acc205outlet.com
ACC 205 Week 5 Journal Most Important Ratio
Journal(New) FOR MORE CLASSES
VISIT www.acc205outlet.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.
37
ACC 205 OUTLET Successful Learning /
acc205outlet.com