ACC 205 Education on your terms / tutorialrank.com

1
ACC 205 Education on your terms/tutorialrank.com
2
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 1 Assignment Student Guidance
Report For more course tutorials
visit www.tutorialrank.com    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.
3
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 1 Chapter 1,2 Quiz and Video
Quiz For more course tutorials visit www.tutorialr
ank.com ACC 205 Week 1 Chapter 1,2 Quiz and Video
Quiz     1. In accounting the concept of
materiality refers to ________________.       Ques
tion 2. 2. Typically accounting transactions are
recorded and reported at _______________. Question
3. 3. The accounting equation is
____________________________. 
4
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 1 DQ 1 Accounting Equation (New) For
more course tutorials visit www.tutorialrank.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.  
5
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 1 DQ 2 Accounts (New) For more
course tutorials visit www.tutorialrank.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.
6
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 1 Journal Balance Sheet Journal
(New) For more course tutorials
visit www.tutorialrank.com   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
reflectio
7
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 2 Assignment Student Guidance
Report For more course tutorials
visit www.tutorialrank.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.
8
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 2 Chapter 3,4 Quiz and Video
Quiz For more course tutorials visit www.tutorialr
ank.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
______________________________.         
9
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 2 DQ 1 Accounting Cycle (New) For
more course tutorials visit www.tutorialrank.com F
inancial 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?
10
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 2 DQ 2 Bank Reconciliation (New) For
more course tutorials visit www.tutorialrank.com W
hat 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.
11
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 2 Journal Income Statement Journal
(New) For more course tutorials
visit www.tutorialrank.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?
12
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 3 Assignment Student Guidance
Report For more course tutorials
visit www.tutorialrank.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
13
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 3 Chapter 5,6 Quiz and Video
Quiz For more course tutorials visit www.tutorialr
ank.com   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
_______________________.     
14
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 3 DQ 1 LIFO vs. FIFO (New) For more
course tutorials visit www.tutorialrank.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? 
15
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 3 DQ 2 Depreciation (New) For more
course tutorials visit www.tutorialrank.com Tutori
al Purchased 3Times, Rating A 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
16
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 3 Journal Inventory Journal
(New) For more course tutorials
visit www.tutorialrank.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?
17
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 4 Assignment Student Guidance
Report For more course tutorials
visit www.tutorialrank.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

18
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 4 Chapter 7,8 Quiz and Video
Quiz For more course tutorials visit www.tutorialr
ank.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)
19
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 4 DQ 1 Current Liability (New) For
more course tutorials visit www.tutorialrank.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.
20
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 4 DQ 2 Client Recommendations
(New) For more course tutorials
visit www.tutorialrank.com   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.  
21
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 4 Journal Future Obligations Journal
(New) For more course tutorials
visit www.tutorialrank.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?
22
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 5 Assignment Student Guidance
Report For more course tutorials
visit www.tutorialrank.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?
23
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 5 Chapter 9 Quiz and Video Quiz For
more course tutorials visit www.tutorialrank.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______________.   
24
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 5 DQ 1 (New) For more course
tutorials visit www.tutorialrank.com   ACC 205
Week 5 DQ 1 
25
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 5 DQ 2 (New) Click Here to Buy the
Tutorial For more course tutorials
visit www.tutorialrank.com Tutorial Purchased 0
Times, Rating Norating   ACC 205 Week 5 DQ 2
26
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 5 Final Paper Paper (Boeing General
Electric Lowes Home) (3 Papers) For more course
tutorials visit www.tutorialrank.com   This
Tutorial contains 3 Papers Paper 1 Boeing Paper
2 General Electric Paper 3 Lowes Home
27
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 5 Final Paper Paper (Microsoft
StarBucks) (2 Papers) For more course tutorials
visit www.tutorialrank.com   This Tutorial
contains 2 Papers Paper 1 Microsoft Paper 2
StarBucks   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 Ashfo
28
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 5 Final Paper Paper (Walmart,
Qualcomm) (2 Papers) For more course tutorials
visit www.tutorialrank.com   This Tutorial
contains 2 Papers Paper 1 Walmart Paper 2
Qualcomm Final PaperFocus of the Final Paper
29
ACC 205 Education on your terms/ tutorialrank.com
ACC 205 Week 5 Journal Most Important Ratio
Journal (New) For more course tutorials
visit www.tutorialrank.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
positio
30
ACC 205 Education on your terms/ tutorialrank.com