ACC 205 Possible-Is-Everything-snaptutorial.com (1)

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ACC 205 Possible-Is-Everything/snaptutorial.com
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ACC 205 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 1 Assignment Student Guidance
Report For more classes visit www.snaptutorial.com
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.
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ACC 205 Possible-Is-Everything/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 ________________. Question 2. 2.
Typically accounting transactions are recorded
and reported at _______________. Question 3. 3.
The accounting equation is _______________________
_____.
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ACC 205 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 1 DQ 1 Accounting Equation For more
classes visit www.snaptutorial.com 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.
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ACC 205 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 1 DQ 2 Accounts For more classes
visit www.snaptutorial.com 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
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ACC 205 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 1 Journal Balance Sheet Journal For
more classes visit www.snaptutorial.com
Balance 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 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 2 Assignment Student Guidance
Report For more classes visit www.snaptutorial.com
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 for 210 outings, with 30 of the
tourists not planning to take their trips until
early February.
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ACC 205 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 2 Chapter 3 4 Quiz and Video
Quiz For more classes visit www.snaptutorial.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 _________________.
Question 3. 3. The matching principle states
______________________________.
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ACC 205 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 2 DQ 1 Accounting Cycle For more
classes visit www.snaptutorial.com 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
Response
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ACC 205 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 2 DQ 2 Bank Reconciliation For more
classes visit www.snaptutorial.com 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 Response
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ACC 205 Possible-Is-Everything/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 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 3 Assignment Student Guidance
Report For more classes visit www.snaptutorial.com
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 Cost of goods sold
62,000 74,000
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ACC 205 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 3 Chapter 5 6 Quiz and Video
Quiz For more classes visit www.snaptutorial.com
ACC 205 Week 3 Chapter 5,6 Quiz and Video Quiz
1. Gross Profit is ___________________.
Question 2. 2. All of the following are
considered part of inventory cost
except__________. Question 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 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 3 DQ 1 LIFO vs. FIFO For more
classes visit www.snaptutorial.com 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 Response
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ACC 205 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 3 DQ 2 Depreciation For more
classes visit www.snaptutorial.com 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?
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ACC 205 Possible-Is-Everything/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?Carefully review the
Grading Rubric for the criteria that will be used
to evaluate your journal entry.
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ACC 205 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 4 Assignment Student Guidance
Report For more classes visit www.snaptutorial.com
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. a.
Compute Hall's accrued interest as of
December 31, 20X1.
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ACC 205 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 4 Chapter 7 8 Quiz and Video
Quiz For more classes visit www.snaptutorial.com
ACC 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 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 4 DQ 1 Current Liability For more
classes visit www.snaptutorial.com 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.
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ACC 205 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 4 DQ 2 Client Recommendations For
more classes visit www.snaptutorial.com 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.
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ACC 205 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 4 Journal Future Obligations
Journal For more classes visit www.snaptutorial.
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?Carefully review
the Grading Rubric for the criteria that will be
used to evaluate your journal entry.
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ACC 205 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 5 Assignment Student Guidance
Report For more classes visit www.snaptutorial.com
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?
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ACC 205 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 5 Chapter 9 Quiz and Video Quiz For
more classes visit www.snaptutorial.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_______________.
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ACC 205 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 5 DQ 1 For more classes
visit www.snaptutorial.com ACC 205 Week 5 DQ 1
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ACC 205 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 5 DQ 2 For more classes
visit www.snaptutorial.com ACC 205 Week 5 DQ 2
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ACC 205 Possible-Is-Everything/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 Possible-Is-Everything/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 Paper
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ACC 205 Possible-Is-Everything/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 Possible-Is-Everything/snaptutorial.com
ACC 205 Week 5 Journal Most Important Ratio
Journal For more classes visit www.snaptutorial.
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.Carefully
review the Grading Rubric for the criteria that
will be used to evaluate your journal entry.
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ACC 205 Possible-Is-Everything/snaptutorial.com