ACC 205 NEW your Dreams Our Mission/uophelp.com

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ACC 205 NEW your Dreams Our Mission/uophelp.com

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• ACC 205 Week 1 Assignment Student Guidance Report
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• 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
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• 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
  ____________________________.
• Question 4. 4. An accountant should be able to
  work in the profession in the ___________________.
  
• Question 5. 5. In accounting, a debit means
  ________________________.

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• ACC 205 Week 1 DQ 1 Accounting Equation (New)
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• 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.
• Guided Response
• Review several of your peers postings and
  identify some core components that you feel
  should be included in every transaction. Respond
  to at least two of your peers and provide
  recommendations to extend their thinking.
  Challenge your peers by asking a question that
  may cause them to reevaluate or add components to
  their transactions.

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• ACC 205 Week 1 DQ 2 Accounts (New)
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• 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
• Analyze several of your peers postings. Let at
  least two of your peers know if this knowledge
  could be used in their everyday lives. Is so,
  how? If not, why not?

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• ACC 205 Week 1 Journal Balance Sheet Journal
  (New)
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• Balance Sheet Journal
• The 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 Week 2 Assignment Student Guidance Report
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• 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.
• Hawaii-Blue rents its fishing boat from Pacific
  Yacht Supply. An agreement was signed at the
  beginning of the year, and 72,000 was paid for
  the rights to use the boat for 2 full years.

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• ACC 205 Week 2 Chapter 3,4 Quiz and Video Quiz
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• 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
  _________________.
• Question 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 (New)
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• 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?
• Guided Response
• Review several of your peers postings and
  identify what steps of the accounting cycle that
  you feel are the most critical. Respond to at
  least

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• ACC 205 Week 2 DQ 2 Bank Reconciliation (New)
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• 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
• A bank reconciliation reconciles the bank account
  balance per the books to the actual bank balance.
  Outstanding checks, deposits in transit, and
  bank errors are 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 3 Assignment Student Guidance Report
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• 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
• Net income 12,000
  13,000
• A recent review of the accounting records
  discovered that the 20X3 ending inventory had
  been understated by 4,000.

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• ACC 205 Week 3 Chapter 5,6 Quiz and Video Quiz
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• ACC 205 Week 3 Chapter 5,6 Quiz and Video Quiz
• 1. Gross Profit is ___________________.
• Question 2. 2. All of the following are
  considered part of inventory cost
  except__________.
• Question 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
  ______________________.
• Question 5. 5. Property, Plant, and Equipment
  normally includes all of the following except
  ___________.
• Question 6. 6. All of the following costs would
  be included in the cost of a piece of equipment
  purchased except _________________.

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• ACC 205 Week 3 DQ 1 LIFO vs. FIFO (New)
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• 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?
• Guided Response
• Analyze several of your peers postings. Let at
  least two of your peers know if a company is
  better off it switches from a LIFO method to a
  FIFO method? Why or why not?

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• ACC 205 Week 3 DQ 2 Depreciation (New)
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• 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
• Let at least two of your peers know if a company
  would use an accelerated depreciation method for
  their financial statements or their tax returns.
  Why do you believe this would be the case?

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ACC 205 NEW your Dreams Our Mission/uophelp.com

• ACC 205 Week 3 Journal Inventory Journal (New)
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• 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?
• Carefully review the Grading Rubric for the
  criteria that will be used to evaluate your
  journal entry.

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• ACC 205 Week 4 Assignment Student Guidance Report
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• 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.
• a. Compute Hall's accrued interest as of
  December 31, 20X1.
• b. Present the appropriate balance sheet
  disclosure for the accrued interest and the
  current and long-term portion of the outstanding
  debt as of December 31, 20X1.
• c. Repeat parts (a) and (b) using a date

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• ACC 205 Week 4 Chapter 7,8 Quiz and Video Quiz
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• 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)
• Question 3. 3. A contingent liability like a
  lawsuit is required to be recorded when the
  probability of an unfavorable outcome is
  __________________. (Points 1)
• Question 4. 4. An employer is required to match
  certain payroll taxes like ________________.
  (Points 1)

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ACC 205 NEW your Dreams Our Mission/uophelp.com

• ACC 205 Week 4 DQ 1 Current Liability (New)
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• 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 Week 4 DQ 2 Client Recommendations (New)
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• 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.
• Let at least two of your peers posts know if an
  alternative choice of entity would be possible.
  What would be the benefits of this new entity
  choice? Would there be any disadvantages
  associated with this new entity selection.

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• ACC 205 Week 4 Journal Future Obligations Journal
  (New)
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• 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 Week 5 Chapter 9 Quiz and Video Quiz
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• 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______________.
• Question 4. 4. Which of the following would not
  be considered a liquidity ratio?
• Question 5. 5. Which of the following would not
  be considered a debt service ratio?
• Question 6. 6. Turnover analysis
  indicates______________.
• Question 7. 7. Gross profit margin________________
  _.
• Question 8. 8. Earnings per share (EPS) is
  considered to be________________.

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• ACC 205 Week 5 DQ 1 (New)
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• ACC 205 Week 5 DQ 1

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• ACC 205 Week 5 DQ 2 (New)
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• ACC 205 Week 5 DQ 2

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• ACC 205 Week 5 Final Paper Paper (Walmart,
  Qualcomm) (2 Papers)
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• This Tutorial contains 2 Papers
• Paper 1 Walmart
• Paper 2 Qualcomm
• Final Paper
• Focus of the Final Paper
• Write 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 introduction, company
  overview, horizontal analysis, ratio analysis,
  final recommendation, and conclusions

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• ACC 205 Week 5 Journal Most Important Ratio
  Journal (New)
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• 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 NEW your Dreams Our Mission/uophelp.com

• For more course tutorials visit
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