ACC 205 Course Teaching Resources/snaptutorial.com

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ACC 205 Course Teaching Resources/snaptutorial.co
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ACC 205 Course Teaching Resources/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.  
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ACC 205 Course Teaching Resources/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 
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ACC 205 Course Teaching Resources/snaptutorial.com
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)
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ACC 205 Course Teaching Resources/snaptutorial.com
ACC 205 Week 1 Journal Balance Sheet
Journal   For more classes visit www.snaptutoria
l.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 Course Teaching Resources/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
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ACC 205 Course Teaching Resources/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.
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ACC 205 Course Teaching Resources/snaptutorial.com
ACC 205 Week 2 Exercise Assignment Revenue and
Expenses For more classes visit www.snaptutori
al.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.
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ACC 205 Course Teaching Resources/snaptutorial.com
ACC 205 Week 2 Journal Income Statement Journal
For more classes visit www.snaptutorial.com   T
he 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?
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ACC 205 Course Teaching Resources/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? 
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ACC 205 Course Teaching Resources/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?
 Guided Response
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ACC 205 Course Teaching Resources/snaptutorial.com
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 21,800
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ACC 205 Course Teaching Resources/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?
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ACC 205 Course Teaching Resources/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.
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ACC 205 Course Teaching Resources/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.  
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ACC 205 Course Teaching Resources/snaptutorial.com
ACC 205 Week 4 Exercise Assignment
Liability   For more classes visit www.snaptutoria
l.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.
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ACC 205 Course Teaching Resources/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. 
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ACC 205 Course Teaching Resources/snaptutorial.com
ACC 205 Week 5 DQ 1 For more classes
visit www.snaptutorial.com   ACC 205 Week 5 DQ
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ACC 205 Course Teaching Resources/snaptutorial.com
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 Course Teaching Resources/snaptutorial.com
ACC 205 Week 5 Exercise Assignment Financial
Ratios For more classes visit www.snaptutorial
.com   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 
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ACC 205 Course Teaching Resources/snaptutorial.com
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.  
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ACC 205 Course Teaching Resources/snaptutorial.com
ACC 205 Week 5 Journal Most Important Ratio
Journal   For more classes visit www.snaptutoria
l.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.Carefully
review the Grading Rubric for the criteria that
will be used to evaluate your journal entry.  
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ACC 205 Course Teaching Resources/snaptutorial.com
The Best way to predict the Future is to create
it.....To Best way....
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