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ACC 205 Course Career Path Begins acc205dotcom

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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 ACC 205 Week 4 DQ 2 Client Recommendations ACC 205 Week 4 Journal Future Obligations Journal – PowerPoint PPT presentation

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Title: ACC 205 Course Career Path Begins acc205dotcom


1
ACC 205 Course Career Path Begins /acc205dotcom
For More Tutorials
www.acc205.com
2
ACC 205 Course Career Path Begins /acc205dotcom
  • ACC 205 Entire Course(New)
  • ACC 205 Final Paper (New)
  • 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
  • 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.

3
ACC 205 Course Career Path Begins /acc205dotcom
  • ACC 205 Week 1 DQ 1 Accounting Equation (New)
  • ACC 205 Week 1 DQ 2 Accounts (New)
  • 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.
  • 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. Guided Response
    Analyze several of your peers postings. Let at
    least two of your peers know if this knowledge

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ACC 205 Course Career Path Begins /acc205dotcom
  • ACC 205 Week 1 Exercise Assignment Basic
    Accounting
  • ACC 205 Week 1 Journal Balance Sheet Journal (New)
  • 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)
  • 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?

5
ACC 205 Course Career Path Begins /acc205dotcom
  • ACC 205 Week 2 DQ 1 Accounting Cycle (New)
  • ACC 205 Week 2 DQ 2 Bank Reconciliation (New)
  • 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?
  • 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? 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.

6
ACC 205 Course Career Path Begins /acc205dotcom
  • ACC 205 Week 2 Exercise Assignment Revenue
  • ACC 205 Week 2 Journal Income Statement Journal
  • 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.
  • 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? Carefully review the Grading Rubric
    for the criteria that will be used to evaluate
    your journal entry.

7
ACC 205 Course Career Path Begins /acc205dotcom
  • ACC 205 Week 3 DQ 1 LIFO vs. FIFO (New)
  • ACC 205 Week 3 DQ 2 Depreciation (New)
  • 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?
  • Depreciation
  • 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

8
ACC 205 Course Career Path Begins /acc205dotcom
  • ACC 205 Week 3 Exercise Assignment Inventory (New)
  • ACC 205 Week 3 Journal Inventory Journal (New)
  • 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
  • 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? Carefully review the Grading
    Rubric for the criteria that will be used to
    evaluate your journal entry.

9
ACC 205 Course Career Path Begins /acc205dotcom
  • ACC 205 Week 4 DQ 1 Current Liability (New)
  • ACC 205 Week 4 DQ 2 Client Recommendations (New)
  • 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.
  • 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.

10
ACC 205 Course Career Path Begins /acc205dotcom
  • ACC 205 Week 4 Exercise Assignment Liability (New)
  • ACC 205 Week 4 Journal Future Obligations
  • 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.
  • 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?

11
ACC 205 Course Career Path Begins /acc205dotcom
  • ACC 205 Week 5 DQ 1 (New)
  • ACC 205 Week 5 DQ 2 (New)
  • ACC 205 Week 5 DQ 1
  • ACC 205 Week 5 DQ 2

12
ACC 205 Course Career Path Begins /acc205dotcom
  • ACC 205 Week 5 Exercise Assignment Financial
  • ACC 205 Week 5 Journal Most Important Ratio
    Journal(New)
  • 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
  • 4,000
  • 2,500
  • 1,000
  • 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.

13
ACC 205 Course Career Path Begins /acc205dotcom
For More Tutorials
www.acc205.com
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