ACC 205 OUTLET Principal Education / acc205outlet.com

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ACC 205 OUTLET Principal Education /
acc205outlet.com
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ACC 205 OUTLET Principal Education /
acc205outlet.com
ACC 205 Final Paper (New) FOR MORE CLASSES
VISIT www.acc205outlet.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 OUTLET Principal Education /
acc205outlet.com
ACC 205 Week 1 Assignment Student Guidance
Report FOR MORE CLASSES VISIT www.acc205outlet.com
  Exercises 2.        Basic computations. The
following selected balances were extracted from
the accounting records of Rossi Enterprises on
December 31, 20X3
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ACC 205 OUTLET Principal Education /
acc205outlet.com
ACC 205 Week 1 Chapter 1,2 Quiz and Video
Quiz FOR MORE CLASSES VISIT www.acc205outlet.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 _______________________
_____. 
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ACC 205 OUTLET Principal Education /
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ACC 205 Week 1 DQ 1 Accounting Equation (Ash) FOR
MORE CLASSES VISIT www.acc205outlet.com   Accounti
ng 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.  
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ACC 205 OUTLET Principal Education /
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ACC 205 Week 1 DQ 2 Accounts (Ash) FOR MORE
CLASSES VISIT www.acc205outlet.com 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.
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ACC 205 OUTLET Principal Education /
acc205outlet.com
ACC 205 Week 1 Exercise Assignment Basic
Accounting Equations (Ash) FOR MORE CLASSES
VISIT www.acc205outlet.com   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.
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ACC 205 OUTLET Principal Education /
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ACC 205 Week 1 Journal Balance Sheet Journal
(Ash) FOR MORE CLASSES VISIT www.acc205outlet.com
  Balance Sheet JournalThe 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?
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ACC 205 OUTLET Principal Education /
acc205outlet.com
ACC 205 Week 2 Assignment Student Guidance
Report FOR MORE CLASSES VISIT www.acc205outlet.com
  Exercise 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.
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ACC 205 OUTLET Principal Education /
acc205outlet.com
ACC 205 Week 2 Chapter 3,4 Quiz and Video
Quiz FOR MORE CLASSES VISIT www.acc205outlet.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 _________________.           Ques
tion 3. 3. The matching principle states
______________________________.    
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ACC 205 OUTLET Principal Education /
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ACC 205 Week 2 DQ 1 Accounting Cycle (Ash) FOR
MORE CLASSES VISIT www.acc205outlet.com   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?
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ACC 205 OUTLET Principal Education /
acc205outlet.com
ACC 205 Week 2 DQ 2 Bank Reconciliation (Ash) FOR
MORE CLASSES VISIT www.acc205outlet.com   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?
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ACC 205 OUTLET Principal Education /
acc205outlet.com
ACC 205 Week 2 Exercise Assignment Revenue and
Expenses (Ash) FOR MORE CLASSES
VISIT www.acc205outlet.com   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.
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ACC 205 OUTLET Principal Education /
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ACC 205 Week 2 Journal Income Statement Journal
(Ash) FOR MORE CLASSES VISIT www.acc205outlet.com
Income Statement JournalThe 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 OUTLET Principal Education /
acc205outlet.com
ACC 205 Week 3 Assignment Student Guidance
Report FOR MORE CLASSES VISIT www.acc205outlet.com
  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 Cost of goods sold
                 62,000                        
74,000
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ACC 205 OUTLET Principal Education /
acc205outlet.com
ACC 205 Week 3 Chapter 5,6 Quiz and Video
Quiz FOR MORE CLASSES VISIT www.acc205outlet.com  
ACC 205 Week 3 Chapter 5,6 Quiz and Video Quiz  
1. Gross Profit is ___________________.       Ques
tion 2. 2. All of the following are considered
part of inventory cost except__________.        Qu
estion 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 _______________________.     
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ACC 205 OUTLET Principal Education /
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ACC 205 Week 3 DQ 1 LIFO vs. FIFO (Ash) FOR MORE
CLASSES VISIT www.acc205outlet.com   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? 
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ACC 205 OUTLET Principal Education /
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ACC 205 Week 3 DQ 1 LIFO vs. FIFO (New) FOR MORE
CLASSES VISIT www.acc205outlet.com   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? 
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ACC 205 OUTLET Principal Education /
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ACC 205 Week 3 DQ 2 Depreciation (Ash) FOR MORE
CLASSES VISIT www.acc205outlet.com   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?  
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ACC 205 OUTLET Principal Education /
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ACC 205 Week 3 Exercise Assignment Inventory
(New) FOR MORE CLASSES VISIT www.acc205outlet.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
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ACC 205 OUTLET Principal Education /
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ACC 205 Week 3 Journal Inventory Journal
(Ash) FOR MORE CLASSES VISIT www.acc205outlet.com
  Inventory JournalReflect 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 OUTLET Principal Education /
acc205outlet.com
ACC 205 Week 4 Assignment Student Guidance
Report FOR MORE CLASSES VISIT www.acc205outlet.com
  Chapter 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.
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ACC 205 OUTLET Principal Education /
acc205outlet.com
ACC 205 Week 4 Chapter 7,8 Quiz and Video
Quiz FOR MORE CLASSES VISIT www.acc205outlet.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)
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ACC 205 OUTLET Principal Education /
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ACC 205 Week 4 DQ 1 Current Liability (Ash) FOR
MORE CLASSES VISIT www.acc205outlet.com   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.
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ACC 205 OUTLET Principal Education /
acc205outlet.com
ACC 205 Week 4 DQ 2 Client Recommendations
(Ash) FOR MORE CLASSES VISIT www.acc205outlet.com
  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.
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ACC 205 OUTLET Principal Education /
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ACC 205 Week 4 Journal Future Obligations Journal
(Ash) FOR MORE CLASSES VISIT www.acc205outlet.com
  Future Obligations JournalThe 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?
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ACC 205 OUTLET Principal Education /
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ACC 205 Week 5 Assignment Student Guidance
Report FOR MORE CLASSES VISIT www.acc205outlet.com
  Chapter 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?
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ACC 205 OUTLET Principal Education /
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ACC 205 Week 5 Chapter 9 Quiz and Video Quiz
FOR MORE CLASSES
VISIT www.acc205outlet.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_______________.   
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ACC 205 OUTLET Principal Education /
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ACC 205 Week 5 DQ 1 (Ash) FOR MORE CLASSES
VISIT www.acc205outlet.com   ACC 205 Week 5 DQ 1
(Ash)
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ACC 205 OUTLET Principal Education /
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ACC 205 Week 5 DQ 2 (Ash) FOR MORE CLASSES
VISIT www.acc205outlet.com   ACC 205 Week 5 DQ 2
(Ash)
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ACC 205 OUTLET Principal Education /
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ACC 205 Week 5 Exercise Assignment Financial
Ratios(New) FOR MORE CLASSES VISIT www.acc205outle
t.com   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
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ACC 205 OUTLET Principal Education /
acc205outlet.com
ACC 205 Week 5 Final Paper Paper (Boeing General
Electric Lowes Home) (3 Papers) FOR MORE CLASSES
VISIT www.acc205outlet.com   This Tutorial
contains 3 Papers Paper 1 Boeing Paper 2
General Electric Paper 3 Lowes Home  
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ACC 205 OUTLET Principal Education /
acc205outlet.com
ACC 205 Week 5 Final Paper Paper (Microsoft
StarBucks) (2 Papers) FOR MORE CLASSES
VISIT www.acc205outlet.com   This Tutorial
contains 2 Papers Paper 1 Microsoft Paper 2
StarBucks  
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ACC 205 OUTLET Principal Education /
acc205outlet.com
ACC 205 Week 5 Final Paper Paper (Walmart,
Qualcomm) (2 Papers) FOR MORE CLASSES
VISIT www.acc205outlet.com   This Tutorial
contains 2 Papers Paper 1 Walmart Paper 2
Qualcomm  
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ACC 205 OUTLET Principal Education /
acc205outlet.com
ACC 205 Week 5 Journal Most Important Ratio
Journal (Ash) FOR MORE CLASSES VISIT www.acc205out
let.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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ACC 205 OUTLET Principal Education /
acc205outlet.com
ACC 205 Week 5 Journal Most Important Ratio
Journal(New) FOR MORE CLASSES VISIT www.acc205outl
et.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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ACC 205 OUTLET Principal Education /
acc205outlet.com