Title: ACC 290 NEW Your World/uophelp.com
1ACC 290 NEW Your World/uophelp.com
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2ACC 290 NEW Your World/uophelp.com
- ACC 290 Final Exam Guide (New)
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- ACC 290 Finals
- Question 1
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- Jackson Company recorded the following cash
transactions for the year -
- Paid 135,000 for salaries.
- Paid 60,000 to purchase office equipment.
- Paid 15,000 for utilities.
3ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 1 Assignment Preparing an Income
Statement Retained Earnings Statement and Balance
Sheet - For more course tutorials visit
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- Purpose of Assignment
- The purpose of this assignment is to help
students become familiar with the presentation of
the income statement and the retained earnings
statement, including how parts of the financial
statement is evaluated to determine the
operational success of the business. - Assignment Steps
- Resources Financial Accounting Tools for
Business Decision Making p. 36 -
4ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 1 Discussion Question 1
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- ACC 290 Week One - DQ 1
- What are the four basic financial statements?
What is the primary purpose of each of the four
basic financial statements? In your opinion,
which financial statement is the most important?
Explain why. How would the financial statements
be useful to managers and employees? How would
the financial statements be useful to investors
and creditors
5ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 1 Discussion Question 2
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- What are debits and credits? How are debits and
credits used to record business transactions? Why
do accountants debit asset accounts to increase
them but credit liability accounts to increase
them? Why do accountants debit expenses to
increase them but credit revenues to increase
them?
6ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 1 Individual Assignment Financial
Statements Paper - For more course tutorials visit
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- Individual - Financial Statements Paper - Prepare
a 700 -1,050 word paper in which you identify the
four basic financial statements. Describe the
purpose of each of the four financial statements.
Discuss how the financial statements would be
useful to internal users, such as to managers and
employees. Discuss how the financial statements
would be useful to external users, such as
investors and creditors. Format paper according
to APA standards.
7ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 1 Practice Quiz(New)
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- Question 1
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- Current assets are expected to be
converted to cash or consumed within the next
year or the normal operating cycle, whichever is
longer. -
- Current assets are economic resources that are
expected to be converted to cash or used up by
the business within one year or the normal
operating cycle, whichever is shorter. -
- Question 2
8ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 1 Vocabulary Activity (New)
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- WileyPLUS Assignment Week 1 Vocabulary Activity
- Resource WileyPLUS
- Complete the following Week 1 Assignment in
WileyPLUS - Chapter 1 WileyPLUS Crossword Puzzle 1
9ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 1 WileyPlus Assignment DI1-3,
E1-3,E1-4, E2-4, IFRS2-4 (New) - For more course tutorials visit
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- WileyPLUS Assignment Week 1 Assignment
- Resource WileyPLUS
- Complete the following Week 1 Assignment in
WileyPLUS - DO IT! 1-3
- Exercise 1-3
10ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 2 Chapter 1,2,3 Orion WileyPlus
Proficiency and Practice Quiz - For more course tutorials visit
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- ACC 290 Chapter 1 Orion WileyPlus Build your
Proficiency -
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- Q 1.1 What is the primary purpose of the
statement of cash flows? - Q 1.2 Which financial statement summarizes the
financial position of a company? - Q 1.3 Which financial statement provides
information for a specific point in time? - Q 1.4 The reports revenues and expenses and
resulting net income or less for a period in
time. - Q 1.5 The income statement does not report cash
received from the sale of stock because it is not
considered revenue.
11ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 2 Charter for Collaborative Learning
Activities - For more course tutorials visit
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- Resources Week 2 Learning Team Collaborative
Discussion and the Learning Team Charter for
Collaborative Learning Activities - Write a 150- to 200-word individual response to
the following - Consider the multiple definitions of
collaboration. - Define collaboration and how you will
apply it in this course based upon the discussion
with your Learning Team. Be sure to reference and
cite your sources. - Answer the question individually.
12ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 2 Discussion Question 1
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- What is the revenue recognition principle? What
is the expense recognition principle? Why are
they important to financial reporting? - What are adjusting entries and why are they
necessary? - What are accruals? Provide examples of accruals.
Why do accruals require adjusting entries? - What are deferrals? What are some examples of
deferrals? Why do deferrals require adjusting
entries?
13ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 2 Discussion Question 2
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- What accounts are subject to adjusting journal
entries and why? - How would you explain the purpose of the adjusted
trial balance?
14ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 2 E3-1 (New)
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- The balance sheet makes sure that the finances
are in balance. Below is a list of Thyme
Advertising Company, Inc. transactions. Each of
these is affected differently. - Issued common stock to investors in exchange
for cash received from investors. -
- Paid monthly rent.
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- Received cash from customers when service was
performed.
15ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 2 LT Reflection Summary (New)
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- Discuss the objectives for ACC 290 Week Two.
- What do you think will be the most important of
the skills learned when you are in an accounting
position? - Differentiate between accrual basis and cash
basis of accounting. - Create Adjusting Entries.
- Prepare an adjusted trial balance.
16ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 2 Practice Quiz (New)
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- Question 1
- Expenses decrease retained earnings.
- Question 2
- During 2014, Gibson Company assets decreased
50,000 and its liabilities decreased 90,000.
Its stockholders equity - Question 3
- Payment of a dividend
17ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 2 Vocabulary Activity (New)
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- WileyPLUS Assignment Week 2 Vocabulary Activity
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- Resource WileyPLUS
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- Complete the following Week 2 Assignment in
WileyPLUS
18ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 2 WileyPlus Assignment BYP2-2,
IFRS2-6, E3-4, E3-8, BYP 3-2, IFRS 3-2, P3-5,
P3-6 (New) - For more course tutorials visit
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- WileyPLUS Assignment Week 2 Assignment
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- Resource WileyPLUS
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- Complete the following Week 2 Assignment in
WileyPLUS -
- BYP 2-2
19ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 3 Chapter 4,5 Orion WileyPlus
Proficiency and Practice Quiz - For more course tutorials visit
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- ACC 290 Chapter 4 Orion WileyPlus Build your
Proficiency -
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- Q 4.1 Which of the following
statements about accrual-basis accounting is NOT
true? - Q 4.2 If a company spends 12
million dollars for a warehouse, when should the
cost be written off? - Q 4.3 If an expense has been used or consumed
but a bill has not been received at the end of
the accounting period, which of the following is
needed? - Q 4.4 Which of the following is true about
unearned revenues? - Q 4.5 Which of the following exemplify an
asset-expense relationship? - Q 4.6 If an adjustment is needed for unearned
revenues, the
20ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 3 Discussion Question 1
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- What are the steps in completing the accounting
cycle? How do the different steps affect the
financial statements? What is the effect on the
financial statements of missing a step when
completing the accounting cycle? What are the
four closing journal entries? Why are they
necessary? What are reversing entries? Why are
they used? What are the pros and cons of using
reversing entries? Why are reversing entries
21ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 3 Discussion Question 2
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- What are the pros and cons of using reversing
entries? Why are reversing entries optional? What
is the main purpose of a financial statement
worksheet and its benefits? How has automation
aided the preparation, accuracy, and use of the
financial statement worksheet?
22ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 3 LT Reflection Summary
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- Discuss the objectives for ACC 290 Week Two.
What do you think will be the most important of
the skills learned when you are in an accounting
position? Differentiate between accrual basis
and cash basis of accounting. Create Adjusting
Entries. Prepare an adjusted trial balance.
Write a 350 to 500 word summary of your Learning
Teams discussion.
23ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 3/4 Learning Team Financial
Reporting Problem, Part 1 (2 Different
Papers)(New) - For more course tutorials visit
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- Financial Reporting Problem Part I
- Browse the Internet to acquire a copy of the most
recent annual report for a publicly traded
company. Analyze the information contained in the
companys balance sheet and income statement to
answer the following questions - What are the companys total assets at the
24ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 3 Practice Quiz (New)
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- Question 1
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- The revenue recognition principle dictates that
revenue is recognized in the period in which the
cash is received. -
- Question 2
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25ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 3 Problem 5-5A (Solution)
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- This Doesnt contain 700 words explanation
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- Purpose of Assignment
- The purpose of this assignment is to help you
become familiar with the parts of the
multiple-step income statement. - Assignment Steps
- Resources Financial Accounting Tools for
Business Decision Making - Scenario An inexperienced accountant prepared
this condensed income statement for Simon Company
a retail firm that has been in business for a
number of years. - SIMON COMPANY
26ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 3 Vocabulary Activity (New)
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- WileyPLUS Assignment Week 3 Practice Quiz
- Resource WileyPLUS
- Complete the following Week 3 Assignment in
WileyPLUS - Chapter 4 Practice Quiz
27ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 3 WileyPlus Assignment BE4-1, P4-2A,
P4-3A, BYP4- (New) - For more course tutorials visit
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- WileyPLUS Assignment Week 3 Assignment
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- Resource WileyPLUS
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- Complete the following Week 3 Assignment in
WileyPLUS
28ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 4 Chapter 6 Orion WileyPlus
Proficiency and Practice Quiz - For more course tutorials visit
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- ACC 290 Chapter 6 Orion WileyPlus Build your
Proficiency -
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- Q 6.1 Where is inventory reported?
- Q 6.2 ________ are items that will
eventually be used in production - Q 6.3 How is inventory ready for sale classified
in a manufacturing company? - Q 6.4 In the perpetual inventory system, which
of the following is NOT a reason to take physical
inventory? - Q 6.5 Which of the following is NOT considered
an inventory cost? - Q 6.6 What is the beginning inventory plus the
29ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 4 Discussion Question 1
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- How would you calculate cost of goods sold? What
items make up cost of goods sold? How does
beginning and ending inventory affect cost of
goods sold? What are the journal entries a
merchandising organization would use to record
the purchase and subsequent sale of merchandise?
How would these transactions differ with a
periodic versus a perpetual inventory system? Why
are perpetual inventory systems so much more
popular today than back in the early 1960s and
earlier? Why would a company employing a
perpetual inventory system still take a physical
inventory periodically?
30ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 4 Discussion Question 2
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- What are the three different inventory cost flow
assumptions commonly used in commerce today and
allowed by generally accepted accounting
principles? How does a company determine what
cost flow assumption they should use? How does
first in, first out cost flow assumption work?
When it is most appropriate to use? How does last
in, first out cost flow assumption work
31ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 4 LT Reflection Summary
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- Reflection and Financial Reporting Problem Part
I. - Discuss the objectives for ACC 290 Week Three.
How do they relate to the practice of accounting
and its uses in business? Prepare closing
entries, reversing entries, and a post closing
trial balance. Prepare a financial statement
work sheet. Prepare a classified income
statement, retained earnings statement and
balance sheet. Write a 350 to 500 word summary of
your Learning Teams
32ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 4/5 Individual Assignment Financial
Reporting Problem Part II (2 Different
Papers)(New) - For more course tutorials visit
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- Financial Reporting Problem Part II
- Access the internet to acquire a copy of the most
recent annual report for the public traded
company used to complete the Financial Reporting
Problem, Part 1 assignment due in ACC 290 Week
Four. Analyze the information contained in the
companys balance sheet and income statement to
answer the following questions
33ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 4 Practice Quiz (New)
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- Question 1
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- A service company's operating cycle is
ordinarily shorter than that of a merchandising
company. - The operating cycle of a merchandising company is
ordinarily shorter than that of a service
company. -
- Question 2
34ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 4 Vocabulary Activity (New)
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- WileyPLUS Assignment Week 4 Vocabulary Activity
- Resource WileyPLUS
- Complete the following Week 4 Assignment in
WileyPLUS - Chapter 5 Crossword Puzzle 1
35ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 4 Wileyplus Assignment P4-8A,
BYP5-1, BYP5-2, BE5-1, BE5-2, IFRS5-2, IFRS5-4,
Do it 5-3, 5-4 (New) - For more course tutorials visit
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- WileyPLUS Assignment Week 4 Assignment
- Resource WileyPLUS
- Complete the following Week 4 Assignment in
WileyPLUS - Problem 4-8A
- BYP 5-1
36ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 5 Discussion Question 1
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- What is the control environment? How does the
control environment affect a companys internal
controls? What are the negative and positive
elements of a control environment? What are two
examples of strong and weak internal controls in
organizations where you have worked or have
first-hand knowledge? How are these different?
How would you describe
37ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 5 IFRS Paper (New)
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- IFRS 2-1 In what ways does the format of a
statement of financial of position under IFRS
often differ from a balance sheet presented under
GAAP? - IFRS 2-2 Do the IFRS and GAAP conceptual
frameworks differ in terms of the objective of
financial reporting? Explain. - IFRS 2-3 What terms commonly used under
38ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 5 Learning Team Reflection Summary
(New) - For more course tutorials visit
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- Reflection and Financial Reporting Problem Part
II. - Discuss the objectives for ACC 290 Week Four. In
the wake of accounting scandals over the past
several years, how has the Sarbanes-Oxley Act
(SOX) of 2002 affected the practice of
accounting? What is the role of internal controls
in complying with SOX (2002)? Write a 350 to 500
word summary of your Learning Teams discussion.
39ACC 290 NEW Your World/uophelp.com
- ACC 290 Week 5 WileyPlus Assignment BE6-5, BE6-7,
BYP6-1, BYP6-2, BE7-4, BE7-6, BE5-1, BE5-2,
BE7-5, E4-17, E4-18 (New) - For more course tutorials visit
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- CWileyPLUS Assignment Week 5 Assignment
- Resource WileyPLUS
- Complete the following Week 5 Assignment in
WileyPLUS - Brief Exercise 6-5
- Brief Exercise 6-7
- BYP 6-1
- BYP 6-2
40ACC 290 NEW Your World/uophelp.com
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