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Title: ACC 205 OUTLET Focus Dreams-acc205outlet.com


1
ACC 205 OUTLET Focus Dreams-acc205outlet.com
FOR MORE CLASSES VISIT www.acc205outlet.com
2
ACC 205 Entire Course (Ash)   FOR MORE CLASSES
VISIT www.acc205outlet.com    ACC 205 Week 1 DQ 1
Accounting Equation ACC 205 Week 1 DQ 2
Accounts ACC 205 Week 1 Journal Balance Sheet
Journal ACC 205 Week 2 DQ 1 Accounting Cycle ACC
205 Week 2 DQ 2 Bank Reconciliation ACC 205 Week
2 Journal Income Statement Journal ACC 205 Week 3
DQ 1 LIFO vs. FIFO ACC 205 Week 3 DQ 2
Depreciation ACC 205 Week 3 Journal Inventory
Journal ACC 205 Week 4 DQ 1 Current Liability
3
ACC 205 Entire Course(New)   FOR MORE CLASSES
VISIT www.acc205outlet.com     ACC 205 Week 1 DQ
1 Accounting Equation ACC 205 Week 1 DQ 2
Accounts ACC 205 Week 1 Journal Balance Sheet
Journal ACC 205 Week 2 DQ 1 Accounting Cycle
ACC 205 Week 2 DQ 2 Bank Reconciliation ACC 205
Week 2 Journal Income Statement Journal ACC 205
Week 3 DQ 1 LIFO vs. FIFO ACC 205 Week 3 DQ 2
Depreciation
4
ACC 205 Final Paper (New)   FOR MORE CLASSES
VISIT www.acc205outlet.com     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
5
ACC 205 Week 1 DQ 1 Accounting Equation
(Ash)   FOR MORE CLASSES VISIT www.acc205outlet.co
m     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.
6
ACC 205 Week 1 DQ 1 Accounting Equation
(New)   FOR MORE CLASSES VISIT www.acc205outlet.co
m     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.
7
ACC 205 Week 1 DQ 2 Accounts (Ash)   FOR MORE
CLASSES VISIT www.acc205outlet.com     Accounts Wh
at 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.  
8
ACC 205 Week 1 DQ 2 Accounts (New)   FOR MORE
CLASSES VISIT www.acc205outlet.com     Accounts Wh
at 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.
9
ACC 205 Week 1 Exercise Assignment Basic
Accounting Equations (Ash)   FOR MORE CLASSES
VISIT www.acc205outlet.com     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. The inventory of boating
supplies owned by the company. (A) Monthly
rental charges paid for store space. (L)
10
ACC 205 Week 1 Exercise Assignment Basic
Accounting Equations (New)   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.
11
ACC 205 Week 1 Journal Balance Sheet Journal
(Ash)   FOR MORE CLASSES VISIT www.acc205outlet.co
m     Balance Sheet Journal he 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
12
ACC 205 Week 1 Journal Balance Sheet Journal
(New)   FOR MORE CLASSES VISIT www.acc205outlet.co
m     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?
13
ACC 205 Week 2 DQ 1Accounting 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?
14
ACC 205 Week 2 DQ 1 Accounting Cycle (New)   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?
15
ACC 205 Week 2 DQ 2 Bank Reconciliation
(Ash)   FOR MORE CLASSES VISIT www.acc205outlet.co
m     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?
16
ACC 205 Week 2 DQ 2 Bank Reconciliation
(New)   FOR MORE CLASSES VISIT www.acc205outlet.co
m     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?
17
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. a. Amounts paid on June 30
18
ACC 205 Week 2 Exercise Assignment Revenue and
Expenses (New)   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,
19
ACC 205 Week 2 Journal Income Statement Journal
(Ash)   FOR MORE CLASSES VISIT www.acc205outlet.co
m     Income Statement Journal   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?
20
ACC 205 Week 2 Journal Income Statement Journal
(New)   FOR MORE CLASSES VISIT www.acc205outlet.co
m     ncome Statement Journal   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?
21
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.
22
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?
23
ACC 205 Week 3 DQ 2 Depreciation (Ash)   FOR MORE
CLASSES VISIT www.acc205outlet.com     Depreciatio
n 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?
24
ACC 205 Week 3 DQ 2 Depreciation (New)   FOR MORE
CLASSES VISIT www.acc205outlet.com     Depreciatio
n 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?
25
ACC 205 Week 3 Exercise Assignment Inventory
(Ash)   FOR MORE CLASSES VISIT www.acc205outlet.co
m    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 4/19
Purchase Sunset 21,800
26
ACC 205 Week 3 Exercise Assignment Inventory
(New)   FOR MORE CLASSES VISIT www.acc205outlet.co
m     1. Specific identification method. Boston
Galleries uses the specific identification method
for inventory valuation. Inventory information
for several oil paintings follows.
Painting
Cost
27
ACC 205 Week 3 Journal Inventory Journal
(Ash)   FOR MORE CLASSES VISIT www.acc205outlet.co
m     nventory Journal     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?
28
ACC 205 Week 3 Journal Inventory Journal
(New)   FOR MORE CLASSES VISIT www.acc205outlet.co
m     Inventory Journal     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?
29
ACC 205 Week 4 DQ 1 Current Liability (Ash)   FOR
MORE CLASSES VISIT www.acc205outlet.com     Curren
t 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.
30
ACC 205 Week 4 DQ 1 Current Liability (New)   FOR
MORE CLASSES VISIT www.acc205outlet.com     Curren
t 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.
31
ACC 205 Week 4 Journal Future Obligations Journal
(Ash)   FOR MORE CLASSES VISIT www.acc205outlet.co
m     Future Obligations Journal     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?  
32
ACC 205 Week 4 DQ 2 Client Recommendations
(New)   FOR MORE CLASSES VISIT www.acc205outlet.co
m     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. 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.
33
ACC 205 Week 4 Exercise Assignment Liability
(Ash)   FOR MORE CLASSES VISIT www.acc205outlet.co
m     Week Four Exercise Assignment Liability 1.
Partner investments journal entries. The LP
partnership was formed on January 1, 19X7, by
investments from Bill Levy and Marv Parcells.
Levy contributed 30,000 cash and 80,000 of
land. Parcells contributed cash of 50,000 and
equipment with a value of 20,000.
34
ACC 205 Week 4 Exercise Assignment Liability
(New)   FOR MORE CLASSES VISIT www.acc205outlet.co
m     Week Four Exercise Assignment Liability 1.
Partner investments journal entries. The LP
partnership was formed on January 1, 19X7, by
investments from Bill Levy and Marv Parcells.
Levy contributed 30,000 cash and 80,000 of
land. Parcells contributed cash of 50,000 and
equipment with a value of 20,000.
35
ACC 205 Week 4 Journal Future Obligations Journal
(Ash)   FOR MORE CLASSES VISIT www.acc205outlet.co
m   Future Obligations Journal     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?
36
ACC 205 Week 4 Journal Future Obligations Journal
(New)   FOR MORE CLASSES VISIT www.acc205outlet.co
m     Future Obligations Journal     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?
37
ACC 205 Week 5 DQ 1 (Ash)   FOR MORE CLASSES
VISIT www.acc205outlet.com     ACC 205 Week 5 DQ 1
38
ACC 205 Week 5 DQ 1 (New)   FOR MORE CLASSES
VISIT www.acc205outlet.com     ACC 205 Week 5 DQ 1
39
ACC 205 Week 5 DQ 2 (Ash)   FOR MORE CLASSES
VISIT www.acc205outlet.com     ACC 205 Week 5 DQ 2
40
ACC 205 Week 5 DQ 2 (New)   FOR MORE CLASSES
VISIT www.acc205outlet.com     ACC 205 Week 5 DQ 2
41
ACC 205 Week 5 Exercise Assignment Financial
Ratios (Ash)   FOR MORE CLASSES
VISIT www.acc205outlet.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 Edison,Stagg,Thornton Cash
42
ACC 205 OUTLET Focus Dreams-acc205outlet.com
FOR MORE CLASSES VISIT www.acc205outlet.com
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