acc205 Education Begins---snaptutorial.com

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ACC 205 Education Begins/snaptutorial.com
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 1 Assignment Student Guidance
Report For more classes visit www.snaptutorial.c
om   Exercises 2.        Basic computations. The
following selected balances were extracted from
the accounting records of Rossi Enterprises on
December 31, 20X3 a.         Determine Rossi's
total assets as of December 31. b.        
Determine the company's total liabilities as of
December 31. c.         Compute 20X3 net income
or loss.
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 1 Chapter 1 2 Quiz and Video Quiz
For more classes visit www.snaptutorial.com   ACC
205 Week 1 Chapter 1,2 Quiz and Video
Quiz     1. In accounting the concept of
materiality refers to ________________.       Ques
tion 2. 2. Typically accounting transactions are
recorded and reported at _______________.
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 1 Journal Balance Sheet Journal
For more classes visit www.snaptutorial.com   B
alance Sheet JournaThe 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?
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 2 Assignment Student Guidance
Report For more classes visit www.snaptutorial.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.
Tourists pay 125 in advance for an all-day
outing off the coast of Maui. The company
collected monies during January
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 2 Chapter 3 4 Quiz and Video Quiz
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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 _________________.   
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 2 Journal Income Statement Journal
For more classes visit www.snaptutorial.com  
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?
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 3 Assignment Student Guidance
Report For more classes visit www.snaptutorial.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
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 3 Chapter 5 6 Quiz and Video Quiz
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205 Week 3 Chapter 5,6 Quiz and Video Quiz    
1. Gross Profit is ___________________.       Ques
tion 2. 2. All of the following are considered
part of inventory cost except__________.        Qu
estion 3. 3. In a period of rising raw material
costs the inventory cost flow assumption that
will provide the firm with the highest net income
would be _______________________.     
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 3 Journal Inventory Journal For
more classes visit www.snaptutorial.com   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?
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 4 Assignment Student Guidance
Report For more classes visit www.snaptutorial.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 December 31
year-end.
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 4 Chapter 7 8 Quiz and Video Quiz
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205 Week 4 Chapter 7,8 Quiz and Video Quiz   1.
Current Liabilities are __________________________
___. (Points 1)   Question 2. 2. The Unearned
Revenue account is used to record
____________________. (Points 1)
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 4 Journal Future Obligations
Journal For more classes visit www.snaptutori
al.com   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?
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 5 Assignment Student Guidance
Report For more classes visit www.snaptutorial.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 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.
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 5 Chapter 9 Quiz and Video Quiz
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205 Week 5 Chapter 9 Quiz and Video
Quiz     Question 1. 1. Common-size financial
statements means___________________.   
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 5 Final Paper Paper (Boeing General
Electric Lowes Home) (3 Papers) For more
classes visit www.snaptutorial.com   This
Tutorial contains 3 Papers Paper 1 Boeing Paper
2 General Electric Paper 3 Lowes Home
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 5 Final Paper Paper (Microsoft
StarBucks) (2 Papers) For more classes
visit www.snaptutorial.com   This Tutorial
contains 2 Papers Paper 1 Microsoft Paper 2
StarBucks
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 5 Final Paper Paper (Walmart,
Qualcomm) (2 Papers) For more classes
visit www.snaptutorial.com   This Tutorial
contains 2 Papers Paper 1 Walmart Paper 2
Qualcomm   Final PaperFocus of the Final Paper
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ACC 205 Education Begins/snaptutorial.com
ACC 205 Week 5 Journal Most Important Ratio
Journal For more classes visit www.snaptutori
al.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.  If you were
considering investing in a company what ratio
would be the most important to you?  Formulate
and argument to defend your position.
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ACC 205 Education Begins/snaptutorial.com