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Title: ACC 205 OUTLET Making Decisions-acc205outlet.com


1
ACC 205 OUTLET Making Decisions-acc205outlet.com
  • FOR MORE CLASSES VISIT
  • www.acc205outlet.com

2
ACC 205 Entire Course(New)
  • ACC 205 Week 1 DQ 1 Accounting Equation
  • ACC 205 Week 1 DQ 2 Accounts
  • ACC 205 Week 1 Journal Balance Sheet Journal
  • ACC 205 Week 2 DQ 1 Accounting Cycle
  • ACC 205 Week 2 DQ 2 Bank Reconciliation
  • ACC 205 Week 2 Journal Income Statement Journal
  • ACC 205 Week 3 DQ 1 LIFO vs. FIFO
  • ACC 205 Week 3 DQ 2 Depreciation
  • ACC 205 Week 3 Journal Inventory Journal
  • ACC 205 Week 4 DQ 1 Current Liability
  • ACC 205 Week 4 DQ 2 Client Recommendations
  • ACC 205 Week 4 Journal Future Obligations
    Journal
  • ACC 205 Week 5 Journal Most Important Ratio
    Journal

3
ACC 205 Final Paper (New)
  • Final Paper
  •  
  • Focus of the Final Paper
  •  
  • Write a five to seven page financial statement
    analysis of a public company, and formatted
    according to APA style as outlined in the Ashford
    Writing Center. In this analysis you will
    discuss the financial health of this company with
    the ultimate goal of making a recommendation to
    other investors. Your paper should consist of
    the following sections introduction, company
    overview, horizontal analysis, ratio analysis,
    final recommendation, and conclusions.

4
ACC 205 Week 1 DQ 1 Accounting Equation (New)
  • Accounting 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.

5
ACC 205 Week 1 DQ 2 Accounts (New)
  • 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.
  •  
  • Guided Response
  • Analyze several of your peers postings. Let at
    least two of your peers know if this knowledge
    could be used in their everyday lives. Is so,
    how? If not, why not?

6
ACC 205 Week 1 Exercise Assignment Basic
Accounting Equations (New)
  • 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.
  • The inventory of boating supplies owned by the
    company. (A)
  • Monthly rental charges paid for store space. (L)

7
ACC 205 Week 1 Journal Balance Sheet Journal (New)
  • Balance Sheet Journal
  •  
  • The 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?

8
ACC 205 Week 2 DQ 1 Accounting Cycle (New)
  • ACC 205 Week 2 DQ 1
  • Accounting Cycle
  • 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?

9
ACC 205 Week 2 DQ 2 Bank Reconciliation (New)
  • 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?
  •  
  • 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.

10
ACC 205 Week 2 Exercise Assignment Revenue and
Expenses (New)
  • 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.
  •  
  • a. Amounts paid on June 30 for a 1-year insurance
    policy
  •  
  • b. Professional fees earned but not billed as of
    June 30

11
ACC 205 Week 2 Journal Income Statement Journal
(New)
  • ncome Statement Journal
  •  
  • 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?

12
ACC 205 Week 3 DQ 1 LIFO vs. FIFO (New)
  • 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?

13
ACC 205 Week 3 DQ 2 Depreciation (New)
  • Depreciation
  • 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?

14
ACC 205 Week 3 Exercise Assignment Inventory (New)
  • 1. Specific identification method. Boston
    Galleries uses the specific identification method
    for inventory valuation. Inventory information
    for several oil paintings follows.
  • Painting
  • Cost
  • 1/2 Beginning inventory
  • Woods
  • 11,000
  • 4/19 Purchase
  • Sunset
  • 21,800
  • 6/7 Purchase
  • Earth

15
ACC 205 Week 3 Journal Inventory Journal (New)
  • Inventory Journal
  •  
  •  
  • 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?

16
ACC 205 Week 4 DQ 1 Current Liability (New)
  • 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.

17
ACC 205 Week 4 DQ 2 Client Recommendations (New)
  • Client 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. 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.

18
ACC 205 Week 4 Exercise Assignment Liability (New)
  • Week Four Exercise Assignment Liability
  • 1. Partner investments journal entries. The LP
    partnership was formed on January 1, 19X7, by
    investments from Bill Levy and Marv Parcells.
    Levy contributed 30,000 cash and 80,000 of
    land. Parcells contributed cash of 50,000 and
    equipment with a value of 20,000.
  • a. Prepare the journal entries needed to
    record the investments of Levy and Parcells.
  • 2. Payroll accounting. Assume that the following
    tax rates and payroll information pertain to
    Brookhaven Publishing
  • Social Security taxes 6 on the first 55,000
    earned
  • Medicare taxes 1.5 on the first 130,000
    earned

19
ACC 205 Week 4 Journal Future Obligations Journal
(New)
  • Future Obligations Journal
  •  
  •  
  • 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?

20
ACC 205 Week 5 DQ 1 (New)
  • ACC 205 Week 5 DQ 1 (New)

21
ACC 205 Week 5 DQ 2 (New)
  • ACC 205 Week 5 DQ 2 (New)

22
ACC 205 Week 5 Exercise Assignment Financial
Ratios(New)
  • 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
  • Edison
  • Stagg
  • Thornton
  • Cash
  • 4,000
  • 2,500
  • 1,000
  • Short-term investments
  • 3,000
  • 2,500
  • 2,000

23
ACC 205 Week 5 Journal Most Important Ratio
Journal(New)
  • ACC 205 WeeaMost 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.
  • k 5 Journal Most Important Ratio Journal(New)

24
ACC 205 OUTLET Making Decisions-acc205outlet.com
  • FOR MORE CLASSES VISIT
  • www.acc205outlet.com
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