ACC 205 OUTLET Introduction Education--acc205outlet.com

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ACC 205 OUTLET Introduction Education--acc205outle
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ACC 205 OUTLET Introduction Education--acc205outle
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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.   In this analysis
you will discuss the financial health of this
company with the ultimate goal of making a
recommendation to other investors.   Your paper
should consist of the following sections
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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 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 Week 1 Chapter 1,2 Quiz and Video
Quiz FOR MORE CLASSES VISIT www.acc205outlet.com A
CC 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
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ACC 205 Week 1 DQ 1 Accounting Equation (Ash) FOR
MORE CLASSES VISIT www.acc205outlet.com Accounting
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 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 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 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 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 Week 2 Chapter 3,4 Quiz and Video
Quiz FOR MORE CLASSES VISIT www.acc205outlet.com A
CC 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 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 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 Week 2 Exercise Assignment Revenue and
Expenses (Ash) FOR MORE CLASSES
VISIT www.acc205outlet.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 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 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 Gross profit                            
38,000                         35,000 Expenses
                                26,000
                        22,000
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ACC 205 Week 3 Chapter 5,6 Quiz and Video
Quiz FOR MORE CLASSES VISIT www.acc205outlet.com A
CC 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 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 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 Week 3 DQ 2 Depreciation (Ash) FOR MORE
CLASSES VISIT www.acc205outlet.com Depreciation Th
ere 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.
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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 4/1
9 Purchase Sunset 21,800
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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 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 Week 4 Chapter 7,8 Quiz and Video
Quiz FOR MORE CLASSES VISIT www.acc205outlet.com A
CC 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 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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