ACC 290 Possible-Is-Everything-snaptutorial.com

1
ACC 290 Possible Is Everything/snaptutorial.com
2
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Final Exam Guide (New, 2018, 100
Score) For more classes visit www.snaptutorial.com
Question 1 The best definition of assets is
the collections of resources belonging to the
company and the claims on these resources. cash
owned by the company. owners investment in the
business.
3
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 1 Assignment Preparing an Income
Statement Retained Earnings Statement and Balance
Sheet For more classes visit www.snaptutorial.co
m Purpose of Assignment The purpose of this
assignment is to help students become familiar
with the presentation of the income statement and
the retained earnings statement, including how
parts of the financial statement is evaluated to
determine the operational success of the
business.
4
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 1 Discussion Question 1 For more
classes visit www.snaptutorial.com ACC 290 Week
One - DQ 1 What are the four basic financial
statements? What is the primary purpose of each
of the four basic financial statements? In your
opinion, which financial statement is the most
important? Explain why. How would the financial
statements be useful to managers and employees?
How would the financial statements be useful to
investors and creditors?
5
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 1 Discussion Question 2 For more
classes visit www.snaptutorial.com What are
debits and credits? How are debits and credits
used to record business transactions? Why do
accountants debit asset accounts to increase them
but credit liability accounts to increase them?
Why do accountants debit expenses to increase
them but credit revenues to increase them?
6
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 1 Individual Assignment Financial
Statements Paper For more classes
visit www.snaptutorial.com Individual -
Financial Statements Paper - Prepare a 700 -1,050
word paper in which you identify the four basic
financial statements. Describe the purpose of
each of the four financial statements. Discuss
how the financial statements would be useful to
internal users, such as to managers and
employees. Discuss how the financial statements
would be useful to external users, such as
investors and creditors. Format paper according
to APA standards.
7
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 1 Practice Quiz For more classes
visit www.snaptutorial.com Question 1
Current assets are expected to be converted
to cash or consumed within the next year or the
normal operating cycle, whichever is longer.
Current assets are economic resources
that are expected to be converted to cash or used
up by the business within one year or the normal
operating cycle, whichever is shorter.
8
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 1 Vocabulary Activity For more
classes visit www.snaptutorial.com WileyPLUS
Assignment Week 1 Vocabulary Activity Resource
WileyPLUS Complete the following Week 1
Assignment in WileyPLUS
9
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 1 WileyPlus Assignment DI1-3,
E1-3,E1-4, E2-4, IFRS2-4 For more classes
visit www.snaptutorial.com WileyPLUS
Assignment Week 1 Assignment Resource
WileyPLUS Complete the following Week 1
Assignment in WileyPLUS DO IT! 1-3
10
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 2 Chapter 1,2,3 Orion WileyPlus
Proficiency and Practice Quiz For more classes
visit www.snaptutorial.com ACC 290 Chapter 1
Orion WileyPlus Build your Proficiency Q 1.1
What is the primary purpose of the statement of
cash flows? Q 1.2 Which financial statement
summarizes the financial position of a company? Q
1.3 Which financial statement provides
information for a specific point in time? Q 1.4
The reports revenues and expenses and resulting
net income or less for a period in time.
11
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 2 Charter for Collaborative Learning
Activities For more classes visit www.snaptutorial
.com Resources Week 2 Learning Team
Collaborative Discussion and the Learning Team
Charter for Collaborative Learning
Activities Write a 150- to 200-word individual
response to the following Consider the
multiple definitions of collaboration.
12
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 2 Discussion Question 1 For more
classes visit www.snaptutorial.com What is the
revenue recognition principle? What is the
expense recognition principle? Why are they
important to financial reporting? What are
adjusting entries and why are they
necessary? What are accruals? Provide examples of
accruals. Why do accruals require adjusting
entries?
13
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 2 Discussion Question 2 For more
classes visit www.snaptutorial.com What
accounts are subject to adjusting journal entries
and why? How would you explain the purpose of the
adjusted trial balance?
14
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 2 E3-1 (New) For more classes
visit www.snaptutorial.com The balance sheet
makes sure that the finances are in balance.
Below is a list of Thyme Advertising Company,
Inc. transactions. Each of these is affected
differently. Issued common stock to investors
in exchange for cash received from investors.
Paid monthly rent. Received cash from
customers when service was performed. Billed
customers for services performed.
15
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 2 LT Reflection Summary (New) For
more classes visit www.snaptutorial.com Discuss
the objectives for ACC 290 Week Two. What do
you think will be the most important of the
skills learned when you are in an accounting
position? Differentiate between accrual basis
and cash basis of accounting.
16
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 2 LT Reflection Summary For more
classes visit www.snaptutorial.com Discuss the
objectives for ACC 290 Week Two. What do you
think will be the most important of the skills
learned when you are in an accounting position?
Differentiate between accrual basis and cash
basis of accounting.
17
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 2 Practice Quiz For more classes
visit www.snaptutorial.com Question 1 Expenses
decrease retained earnings. Question 2 During
2014, Gibson Company assets decreased 50,000 and
its liabilities decreased 90,000. Its
stockholders equity Question 3 Payment of a
dividend Question 4
18
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 2 Vocabulary Activity For more
classes visit www.snaptutorial.com WileyPLUS
Assignment Week 2 Vocabulary Activity
Resource WileyPLUS Complete the following
Week 2 Assignment in WileyPLUS Chapter 2
Wiley PLUS Crossword Puzzle 1
19
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 2 WileyPlus Assignment BYP2-2,
IFRS2-6, E3-4, E3-8, BYP 3-2, IFRS 3-2, P3-5,
P3-6 For more classes visit www.snaptutorial.com
WileyPLUS Assignment Week 2 Assignment
Resource WileyPLUS Complete the following
Week 2 Assignment in WileyPLUS
20
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 3 Chapter 4,5 Orion WileyPlus
Proficiency and Practice Quiz For more classes
visit www.snaptutorial.com ACC 290 Week 3
Chapter 4,5 Orion WileyPlus Proficiency and
Practice Quiz ACC 290 Chapter 4 Orion WileyPlus
Build your Proficiency
21
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 3 Discussion Question 1 For more
classes visit www.snaptutorial.com What are the
steps in completing the accounting cycle? How do
the different steps affect the financial
statements? What is the effect on the financial
statements of missing a step when completing the
accounting cycle? What are the four closing
journal entries? Why are they necessary? What are
reversing entries? Why are they used? What are
the pros and cons of using reversing entries? Why
are reversing entries optional?
22
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 3 Discussion Question 2 For more
classes visit www.snaptutorial.com What are the
pros and cons of using reversing entries? Why are
reversing entries optional? What is the main
purpose of a financial statement worksheet and
its benefits? How has automation aided the
preparation, accuracy, and use of the financial
statement worksheet?
23
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 3 Practice Quiz For more classes
visit www.snaptutorial.com Question 1 The
revenue recognition principle dictates that
revenue is recognized in the period in which the
cash is received. Question 2
24
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 3 Problem 5-5A (Simon Company) For
more classes visit www.snaptutorial.com
Purpose of Assignment The purpose of this
assignment is to help you become familiar with
the parts of the multiple-step income
statement. Assignment Steps Resources Financial
Accounting Tools for Business Decision Making
25
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 3 Vocabulary Activity For more
classes visit www.snaptutorial.com WileyPLUS
Assignment Week 3 Practice Quiz Resource
WileyPLUS Complete the following Week 3
Assignment in WileyPLUS
26
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 2 WileyPlus Assignment BYP2-2,
IFRS2-6, E3-4, E3-8, BYP 3-2, IFRS 3-2, P3-5,
P3-6 For more classes visit www.snaptutorial.com
WileyPLUS Assignment Week 2 Assignment
Resource WileyPLUS Complete the following
Week 2 Assignment in WileyPLUS BYP 2-2
27
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 3 Chapter 4,5 Orion WileyPlus
Proficiency and Practice Quiz For more classes
visit www.snaptutorial.com ACC 290 Week 3
Chapter 4,5 Orion WileyPlus Proficiency and
Practice Quiz ACC 290 Chapter 4 Orion WileyPlus
Build your Proficiency
28
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 3 Discussion Question 1 For more
classes visit www.snaptutorial.com What are the
steps in completing the accounting cycle? How do
the different steps affect the financial
statements? What is the effect on the financial
statements of missing a step when completing the
accounting cycle? What are the four closing
journal entries? Why are they necessary? What are
reversing entries? Why are they used? What are
the pros and cons of using reversing entries? Why
are reversing entries optional?
29
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 3 Discussion Question 2 For more
classes visit www.snaptutorial.com What are the
pros and cons of using reversing entries? Why are
reversing entries optional? What is the main
purpose of a financial statement worksheet and
its benefits? How has automation aided the
preparation, accuracy, and use of the financial
statement worksheet?
30
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 3 Practice Quiz For more classes
visit www.snaptutorial.com Question 1 The
revenue recognition principle dictates that
revenue is recognized in the period in which the
cash is received. Question 2 The
generally accepted accounting principle which
dictates that revenue be recognized in the
accounting period in which the performance
obligation is satisfied is the
31
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 3 Problem 5-5A (Simon Company) For
more classes visit www.snaptutorial.com
Purpose of Assignment The purpose of this
assignment is to help you become familiar with
the parts of the multiple-step income
statement. Assignment Steps Resources Financial
Accounting Tools for Business Decision Making
32
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 3 Vocabulary Activity For more
classes visit www.snaptutorial.com WileyPLUS
Assignment Week 3 Practice Quiz Resource
WileyPLUS Complete the following Week 3
Assignment in WileyPLUS
33
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 3 WileyPlus Assignment BE4-1, P4-2A,
P4-3A, BYP4-1, IFRS PQ-1, PQ-2, PQ-3, PQ-4 For
more classes visit www.snaptutorial.com
Assignment Week 3 Assignment Complete the
following Week 3 Assignment Brief Exercise
4-1 Problem 4-2A Problem 4-3A
34
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 4 Chapter 6 Orion WileyPlus
Proficiency and Practice Quiz For more classes
visit www.snaptutorial.com ACC 290 Chapter 6
Orion WileyPlus Build your Proficiency Q 6.1
Where is inventory reported? Q 6.2 ________
are items that will eventually be used in
production Q 6.3 How is inventory ready for
sale classified in a manufacturing company? Q
6.4 In the perpetual inventory system, which of
the following is NOT a reason to take physical
inventory? Q 6.5 Which of the following is
NOT considered an inventory cost?
35
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 4 Discussion Question 1 For more
classes visit www.snaptutorial.com How would
you calculate cost of goods sold? What items make
up cost of goods sold? How does beginning and
ending inventory affect cost of goods sold? What
are the journal entries a merchandising
organization would use to record the purchase and
subsequent sale of merchandise? How would these
transactions differ with a periodic versus a
perpetual inventory system? Why are perpetual
inventory systems so much more popular today than
back in the early 1960s and earlier? Why would a
company employing a perpetual inventory system
still take a physical inventory periodically?
36
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 4 Discussion Question 2 For more
classes visit www.snaptutorial.com What are
the three different inventory cost flow
assumptions commonly used in commerce today and
allowed by generally accepted accounting
principles? How does a company determine what
cost flow assumption they should use? How does
first in, first out cost flow assumption work?
When it is most appropriate to use? How does last
in, first out cost flow assumption work? When it
is most appropriate to use?
37
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 4 Evaluate The Inventory Section Of
Two companies Using Basic Comparative
Analysis For more classes visit www.snaptutorial.c
om The purpose of this assignment is to
evaluate the inventory section of two companies
using basic comparative analysis, and to
interpret the data to gain insight about the
company's inventory management. Assignment Steps
38
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 4 Practice Quiz For more classes
visit www.snaptutorial.com Question 1 A
service company's operating cycle is ordinarily
shorter than that of a merchandising company. The
operating cycle of a merchandising company is
ordinarily shorter than that of a service
company.
39
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 4 Vocabulary Activity For more
classes visit www.snaptutorial.com WileyPLUS
Assignment Week 4 Vocabulary Activity Resource
WileyPLUS Complete the following Week 4
Assignment in WileyPLUS Chapter 5 Crossword
Puzzle 1
40
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 4 Wileyplus Assignment P4-8A,
BYP5-1, BYP5-2, BE5-1, BE5-2, IFRS5-2, IFRS5-4,
PQ-1, PQ-2, PQ-3 For more classes
visit www.snaptutorial.com Week 4
Assignment Complete the following Week 4
Assignment in Problem 4-8A Brief Exercise
5-1 Brief Exercise 5-2 BYP 5-1 BYP 5-2
41
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 4Evaluate The Inventory Section Of
Two companies Using Basic Comparative Analysis
For more classes visit www.snaptutorial.com
The purpose of this assignment is to evaluate
the inventory section of two companies using
basic comparative analysis, and to interpret the
data to gain insight about the company's
inventory management. Assignment Steps
Resources Financial Accounting Tools for
Business Decision Making
42
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 5 Apply Connect Assignment (100
Correct) (with Excel File) For more classes
visit www.snaptutorial.com This Tutorial
contains an Excel File which can be used for any
values ACC 290 Week 5 Apply Connect Assignment
Note You have only 1 attempt available to
complete assignments
43
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 5 Apply Connect Assignment (100
Correct) (with Excel File) For more classes
visit www.snaptutorial.com This Tutorial
contains an Excel File which can be used for any
values ACC 290 Week 5 Apply Connect Assignment
Note You have only 1 attempt available to
complete assignments
44
ACC 290 Possible Is Everything/snaptutorial.com
ACC 290 Week 5 Discussion Question 1 For more
classes visit www.snaptutorial.com What is
the control environment? How does the control
environment affect a companys internal controls?
What are the negative and positive elements of a
control environment? What are two examples of
strong and weak internal controls in
organizations
45
ACC 290 Possible Is Everything/snaptutorial.com