ACC 205 Believe Possibilities--snaptutorial.com

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ACC 205 Believe Possibilities--snaptutorial.com
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ACC 205 Believe Possibilities--snaptutorial.com
ACC 205 Week 1 Assignment Student Guidance
Report For more classes visit www.snaptutorial.
com   Exercises 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.     
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ACC 205 Believe Possibilities--snaptutorial.com
ACC 205 Week 1 DQ 1 Accounting Equation
For more classes visit www.snaptutor
ial.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 Believe Possibilities--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 Believe Possibilities--snaptutorial.com
ACC 205 Week 1 Journal Balance Sheet Journal
For more classes visit www.snaptutorial.com   Bal
ance 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?     
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ACC 205 Believe Possibilities--snaptutorial.com
ACC 205 Week 2 Assignment Student Guidance
Report For more classes visit www.snaptutoria
l.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 Believe Possibilities--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 _________________.           Ques
tion 3. 3. The matching principle states
______________________________.          Question
4. 4. Adjusting entries apply to
___________________________.        
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ACC 205 Believe Possibilities--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?     
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ACC 205 Believe Possibilities--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.Guided Response     
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ACC 205 Believe Possibilities--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?     
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ACC 205 Believe Possibilities--snaptutorial.com
ACC 205 Week 3 Assignment Student Guidance
Report For more classes visit www.snaptutoria
l.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 Gross profit                            
38,000                         35,000 Expenses
                                26,000
                        22,000     
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ACC 205 Believe Possibilities--snaptutorial.com
ACC 205 Week 3 Chapter 5 6 Quiz and Video Quiz
For more classes visit www.snaptutorial.com   AC
C 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 _______________________.      Question
4. 4. A physical inventory ______________________.
         
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ACC 205 Believe Possibilities--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 Believe Possibilities--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 Believe Possibilities--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 Believe Possibilities--snaptutorial.com
ACC 205 Week 4 Assignment Student Guidance
Report For more classes visit www.snaptutorial.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 Believe Possibilities--snaptutorial.com
ACC 205 Week 3 Chapter 5 6 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)         
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ACC 205 Believe Possibilities--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 Believe Possibilities--snaptutorial.com
ACC 205 Week 4 DQ 2 Client Recommendations
For more classes visit www.snaptutorial.co
m   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 Believe Possibilities--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?Carefully review the
Grading Rubric for the criteria that will be used
to evaluate your journal entry.     
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ACC 205 Believe Possibilities--snaptutorial.com
ACC 205 Week 5 Assignment Student Guidance
Report For more classes visit www.snaptutorial.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 Believe Possibilities--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______________.        
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ACC 205 Believe Possibilities--snaptutorial.com
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 Believe Possibilities--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 Believe Possibilities--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
PaperFocus of the Final Paper     
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ACC 205 Believe Possibilities--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       
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ACC 205 Believe Possibilities--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 PaperFocus of the Final
Paper     
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ACC 205 Believe Possibilities--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.     
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ACC 205 Believe Possibilities--snaptutorial.com