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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 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 Week 1 Exercise Assignment Basic
Accounting Equations For more classes
visit www.snaptutorial.com 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) A loan
owed to Citizens Bank. (L)
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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?Carefully
review the Grading Rubric for the criteria that
will be used to evaluate your journal entry.
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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 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 Week 2 Exercise Assignment Revenue and
Expenses For more classes visit www.snaptutoria
l.com . 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 policyb. Professional
fees earned but not billed as of June 30c.
Repairs to the firms copy machine, incurred and
paid in June
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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?Carefully review the
Grading Rubric for the criteria that will be used
to evaluate your journal entry.
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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?
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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?
Guided Response
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ACC 205 Week 3 Exercise Assignment Inventory
For more classes visit www.snaptutorial.com 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
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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 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 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. Let at least two of your peers
posts know if an alternative choice of entity
would be possible. What would be the benefits of
this new entity choice? Would there be any
disadvantages associated with this new entity
selection.
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ACC 205 Week 4 Exercise Assignment Liability For
more classes visit www.snaptutorial.com 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
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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 Week 5 DQ 1 For more classes
visit www.snaptutorial.com ACC 205 Week 5 DQ 1
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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 Week 5 Exercise Assignment Financial
Ratios For more classes visit www.snaptutorial.c
om 1. Liquidity ratios. Edison, Stagg, and
Thornton have the following financial information
at the close of business on July 10
  Edison Stagg Thornton Cash
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ACC 205 Week 5 Final Paper Paper For more
classes visit www.snaptutorial.com Final
PaperFocus of the Final PaperWrite 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 introd
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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.
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HCS 483Course Seek Your Dream / snaptutorial.com
The Best way to predict the Future is to create
it.....To Best way....
www.snaptutorial.com