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ACC 290 Slingshot Academy / snaptutorial.com
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ACC 290 Slingshot Academy / snaptutorial.com

• ACC 290 Final Exam Guide

• ACC 290 Week 1 Discussion Question 1

• ACC 290 Finals
• Question 1
• 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

• 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?

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ACC 290 Slingshot Academy / snaptutorial.com

• ACC 290 Week 1 Discussion Question 2

• ACC 290 Week 1 Practice Quiz

• 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?

• Question 1
• 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.

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ACC 290 Slingshot Academy / snaptutorial.com

• ACC 290 Week 1 Vocabulary Activity

• ACC 290 Week 1 Wiley Plus Assignment DI1-3,

• Wiley PLUS Assignment Week 1 Vocabulary Activity
• Resource Wiley PLUS
• Complete the following Week 1 Assignment in Wiley
  PLUS
• Chapter 1 Wiley PLUS Crossword Puzzle 1

• Wiley PLUS Assignment Week 1 Assignment
• Resource Wiley PLUS
• Complete the following Week 1 Assignment in Wiley
  PLUS
• DO IT! 1-3
• Exercise 1-3
• Exercise 1-4
• Exercise Excel E 2-4
• IFRS 2-4

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ACC 290 Slingshot Academy / snaptutorial.com

• ACC 290 Week 2 Discussion Question 1

• ACC 290 Week 2 Discussion Question 2

• 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 accounts are subject to adjusting journal
  entries and why?
•  How would you explain the purpose of the
  adjusted trial balance?

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ACC 290 Slingshot Academy / snaptutorial.com

• ACC 290 Week 2 LT Reflection Summary

• ACC 290 Week 2 Practice Quiz

• 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.

• 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

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ACC 290 Slingshot Academy / snaptutorial.com

• ACC 290 Week 2 Vocabulary Activity

• ACC 290 Week 2 Wiley Plus Assignment BYP2-2,

• Wiley PLUS Assignment Week 2 Vocabulary Activity
• Resource Wiley PLUS
• Complete the following Week 2 Assignment in
  Wiley PLUS
• Chapter 2 Wiley PLUS Crossword Puzzle 1

• Wiley PLUS Assignment Week 2 Assignment
• Resource Wiley PLUS
• Complete the following Week 2 Assignment in
  Wiley PLUS
• BYP 2-2
• IFRS 2-6
• Exercise 3-4
• Exercise 3-8
• Exercise 3-10

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ACC 290 Slingshot Academy / snaptutorial.com

• ACC 290 Week 3/4 Learning Team Financial
  Reporting

• ACC 290 Week 3 Discussion Questions 1

• 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 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

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ACC 290 Slingshot Academy / snaptutorial.com

• ACC 290 Week 3 Discussion Questions 2

• ACC 290 Week 3 Practice Quiz

• 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?

• Question 1
• The revenue recognition principle dictates that
  revenue is recognized in the period in which the
  cash is received.
• Question 2
• The generally accepted accounting principle
  which dictates that revenue be recognized in the
  accounting period in which the performance
  obligation

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ACC 290 Slingshot Academy / snaptutorial.com

• ACC 290 Week 3 Vocabulary Activity

• ACC 290 Week 3 Wiley Plus Assignment BE4-1

• Wiley PLUS Assignment Week 3 Practice Quiz
• Resource Wiley PLUS
• Complete the following Week 3 Assignment in Wiley
  PLUS
• Chapter 4 Practice Quiz

• Wiley PLUS Assignment Week 3 Assignment
• Resource Wiley PLUS
• Complete the following Week 3 Assignment in
  Wiley PLUS
• Brief Exercise 4-1
• Problem 4-2A
• Problem 4-3A
• BYP 4-1