ACC 205 help A Guide to career/Snaptutorial

1
ACC 205 help A Guide to career/ snaptutorial.com
The Best way to predict the Future is to create
it.....To Best way....
www.snaptutorial.com
2
ACC 205 help A Guide to career/ snaptutorial.com
ACC 205 Week 1 Assignment Student Guidance Report
For more classes visit www.snaptutorial.com   Exe
rcises 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. b.
Determine the company's total liabilities as of
December 31. c. Compute 20X3 net income
or loss.
3
ACC 205 help A Guide to career/ 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 _______________________
_____. Question 4. 4. An accountant should be
able to work in the profession in the
___________________. Question 5. 5. In
accounting, a debit means
4
ACC 205 help A Guide to career/ 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.  
5
ACC 205 help A Guide to career/ 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 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 help A Guide to career/ snaptutorial.com
ACC 205 Week 1 Journal Balance Sheet Journal For
more classes visit www.snaptutorial.com   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?     Carefully
review the Grading Rubric for the criteria that
will be used to evaluate your journal entry.
7
ACC 205 help A Guide to career/ snaptutorial.com
ACC 205 Week 2 Assignment Student Guidance Report
For more classes visit www.snaptutorial.com   Exe
rcise 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. Hawaii-Blue rents its fishing boat from
Pacific Yacht Supply. An agreement was signed at
the beginning of the year, and 72,000 was paid
for the rights to use the boat for 2 full years.
8
ACC 205 help A Guide to career/ 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 _________________.
9
ACC 205 help A Guide to career/ 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?
10
ACC 205 help A Guide to career/ 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.
11
ACC 205 help A Guide to career/ 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?  
12
ACC 205 help A Guide to career/ snaptutorial.com
 ACC 205 Week 3 Assignment Student Guidance
Report For more classes visit www.snaptutorial.co
m 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
13
ACC 205 help A Guide to career/ 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
_______________________. Question 4. 4. A
physical inventory ______________________.
14
ACC 205 help A Guide to career/ 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?
15
ACC 205 help A Guide to career/ 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?
16
ACC 205 help A Guide to career/ 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?  
17
ACC 205 help A Guide to career/ snaptutorial.com
ACC 205 Week 4 Assignment Student Guidance Report
For more classes visit www.snaptutorial.com   Cha
pter 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.
18
ACC 205 help A Guide to career/ 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)
19
ACC 205 help A Guide to career/ 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.  
20
ACC 205 help A Guide to career/ 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.
21
ACC 205 help A Guide to career/ 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?  
22
ACC 205 help A Guide to career/ snaptutorial.com
ACC 205 Week 5 Assignment Student Guidance Report
For more classes visit www.snaptutorial.com   Cha
pter 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? Suppose Thornton is using FIFO for
inventory valuation and Edison is using LIFO.
Comment on the
23
ACC 205 help A Guide to career/ 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_______________. Question 3. 3.
Horizontal analysis of a financial statement
involves______________.
24
ACC 205 help A Guide to career/ snaptutorial.com
ACC 205 Week 5 DQ 1 For more classes
visit www.snaptutorial.com   ACC 205 Week 5 DQ 1
25
ACC 205 help A Guide to career/ snaptutorial.com
ACC 205 Week 5 DQ 2 For more classes
visit www.snaptutorial.com   ACC 205 Week 5 DQ 2
26
ACC 205 help A Guide to career/ 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 Final
Paper   Focus of the Final Paper
27
ACC 205 help A Guide to career/ 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 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
28
ACC 205 help A Guide to career/ 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   Focus of the Final
Paper  
29
ACC 205 help A Guide to career/ snaptutorial.com
ACC 205 Week 5 Journal Most Important Ratio
Journal For more classes visit www.snaptutorial.c
om   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.
30
ACC 205 help A Guide to career/ snaptutorial.com
The Best way to predict the Future is to create
it.....To Best way....
www.snaptutorial.com