ACC 290 (New) Keep Learning/newtonhelp.com

1
ACC 290 (New) Keep Learning/newtonhelp
2
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Final Exam Guide (New, 2019, 100 Score)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• Question 1
• The best definition of assets is the
•  
• collections of resources belonging to the company
  and the claims on these resources.
• cash owned by the company.
•  

3
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 1 Apply Connect Assignment (100
  Correct) (With Excel File)
• For more course tutorials visit
• www.newtonhelp.com
•   
• 1
• On July 1, Tommy Wrigley established Wrigley Home
  Appraisal Services, a firm that provides expert
  residential appraisals and represents clients in
  home appraisal hearings.
• TRANSACTIONS
• The owner invested 100,000 in cash to begin the
  business.

4
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 1 Apply Connect Exercise
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• ACC 290 Week 1 Apply Connect Exercise
•  
• Review the Knowledge Check in preparation for
  this assignment.
•  
• Complete the Week 1 Exercise in Connect.
•  

5
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 1 Assignment Preparing an Income
  Statement Retained Earnings Statement and Balance
  Sheet
• For more course tutorials visit
• www.newtonhelp.com
•  
•   
• Purpose of Assignment 
• The purpose of this assignment is to help
  students become familiar with the presentation of
  the income statement and the retained earnings
  statement,

6
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 1 Discussion Question 1
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Week One - DQ 1
• What are the four basic financial statements?
  What is the primary purpose of each of the four
  basic financial statements? In your opinion,
  which financial statement is the most important?
  Explain why. How would the financial

7
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 1 Discussion Question 2
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• What are debits and credits? How are debits and
  credits used to record business transactions? Why
  do accountants debit asset accounts to increase
  them but credit liability accounts to increase
  them? Why do accountants debit expenses to
  increase them but credit revenues to increase
  them?
•  

8
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 1 Individual Assignment Financial
  Statements Paper
• For more course tutorials visit
• www.newtonhelp.com
•   
•  
• Individual - Financial Statements Paper - Prepare
  a 700 -1,050 word paper in which you identify the
  four basic financial statements.  Describe the
  purpose of each of the four financial statements.
  Discuss how the financial statements would be

9
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 1 Practice Connect Practice
  Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Week 1 Practice Connect Practice
  Assignment
• Complete the Week 1 Practice in Connect.
• Note You have unlimited attempts available to
  complete practice assignments

10
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 1 Practice Connect Knowledge Check
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• ACC 290 Week 1 Practice Connect Knowledge Check
• Complete the Week 1 Knowledge Check in Connect.
• Note You have unlimited attempts available to
  complete this practice assignment. The highest
  scored attempt will be recorded.

11
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 1 Practice Quiz(New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•   
• Question 1  
• Current assets are expected to be
  converted to cash or consumed within the next
  year or the normal operating cycle, whichever is
  longer.
•  

12
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 1 Vocabulary Activity (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• WileyPLUS Assignment Week 1 Vocabulary Activity
• Resource WileyPLUS
• Complete the following Week 1 Assignment in
  WileyPLUS

13
ACC 290 (New) Keep Learning/newtonhelp

•  
• ACC 290 Week 1 WileyPlus Assignment DI1-3,
  E1-3,E1-4, E2-4, IFRS2-4 (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• WileyPLUS Assignment Week 1 Assignment
• Resource WileyPLUS
• Complete the following Week 1 Assignment in
  WileyPLUS
• DO IT! 1-3

14
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 2 Apply Connect Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Week 2 Apply Connect Assignment 
• Complete the Week 2 Assignment in Connect.   
• Note You have only 1 attempt available to
  complete assignments
•  

15
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 2 Apply Connect Exercise
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• ACC 290 Week 2 Apply Connect Exercise
• Review the Knowledge Check in preparation for
  this assignment.
• Complete the Week 2 Exercise in Connect.
•  

16
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 2 Chapter 1,2,3 Orion WileyPlus
  Proficiency and Practice Quiz
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• ACC 290 Chapter 1 Orion WileyPlus Build your
  Proficiency
• Q 1.1 What is the primary purpose of the
  statement of cash flows?  
• Q 1.2 Which financial statement summarizes the
  financial position of a company?

17
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 2 Charter for Collaborative Learning
  Activities
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Resources Week 2 Learning Team Collaborative
  Discussion and the Learning Team Charter for
  Collaborative Learning Activities
• Write a 150- to 200-word individual response to
  the following

18
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 2 Discussion Question 1
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• What is the revenue recognition principle? What
  is the expense recognition principle? Why are
  they important to financial reporting?
• What are adjusting entries and why are they
  necessary?
• What are accruals?

19
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 2 Discussion Question 2
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• What accounts are subject to adjusting journal
  entries and why?
• How would you explain the purpose of the adjusted
  trial balance?

20
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 2 E3-1 (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• The balance sheet makes sure that the finances
  are in balance. Below is a list of Thyme
  Advertising Company, Inc. transactions. Each of
  these is affected differently.
• Issued common stock to investors in exchange for
  cash received from investors.

21
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 2 LT Reflection Summary (New)
• www.newtonhelp.com
•  
•  
•  
• Discuss the objectives for ACC 290 Week Two. 
• What do you think will be the most important of
  the skills learned when you are in an accounting
  position? 
• Differentiate between accrual basis and cash
  basis of accounting. 

22
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 2 Practice Connect Practice
  Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Week 2 Practice Connect Practice
  Assignment
• Complete the Week 2 Practice in Connect.
• Note You have unlimited attempts available to
  complete practice assignments

23
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 2 Practice Connect Knowledge Check
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• ACC 290 Week 2 Practice Connect Knowledge Check
• Complete the Week 2 Knowledge Check in Connect.
• Note You have unlimited attempts available to
  complete this practice assignment. The highest
  scored attempt will be recorded.

24
ACC 290 (New) Keep Learning/newtonhelp

•  
• ACC 290 Week 2 Practice Quiz (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
• Question 1
• Expenses decrease retained earnings.
• Question 2
• During 2014, Gibson Company assets decreased
  50,000 and its liabilities decreased 90,000.
  Its stockholders equity

25
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 2 Vocabulary Activity (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• WileyPLUS Assignment Week 2 Vocabulary Activity
• Resource WileyPLUS
• Complete the following Week 2 Assignment in
  WileyPLUS

26
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 2 WileyPlus Assignment BYP2-2,
  IFRS2-6, E3-4, E3-8, BYP 3-2, IFRS 3-2, P3-5,
  P3-6 (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• WileyPLUS Assignment Week 2 Assignment
• Resource WileyPLUS
• Complete the following Week 2 Assignment in
  WileyPLUS
•  
•  

27
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 3/4 Learning Team Financial
  Reporting Problem, Part 1 (2 Different
  Papers)(New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• Financial Reporting Problem Part I
• Browse the Internet to acquire a copy of the most
  recent annual report for a publicly traded
  company. Analyze the information contained in the
  companys balance sheet
•  

28
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 3 Apply Connect Assignment (with
  Excel File)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• This Tutorial contains an Excel File which can be
  used for any values
• ACC 290 Week 3 Apply Connect Assignment
• Complete the Week 3 Assignment in Connect.

29
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 3 Apply Connect Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Week 3 Apply Connect Assignment
• Complete the Week 3 Assignment in Connect.
• Note You have only 1 attempt available to
  complete assignments

30
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 3 Apply Connect Exercise
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• ACC 290 Week 3 Apply Connect Exercise
• Review the Knowledge Check in preparation for
  this assignment.
• Complete the Week 3 Exercise in Connect.

31
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 3 Chapter 4,5 Orion WileyPlus
  Proficiency and Practice Quiz
• For more course tutorials visit
• www.newtonhelp.com
•  
•   
• ACC 290 Chapter 4 Orion WileyPlus Build your
  Proficiency 
• Q 4.1              Which of the following
  statements about accrual-basis accounting is NOT
  true?
• Q 4.2              If a company spends 12
  million dollars for a warehouse, when should the
  cost be written off?

32
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 3 Discussion Question 1
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• What are the steps in completing the accounting
  cycle? How do the different steps affect the
  financial statements? What is the effect on the
  financial statements of missing a step when
  completing the accounting cycle? What are the
  four closing journal entries?

33
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 3 Discussion Question 2
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• What are the pros and cons of using reversing
  entries? Why are reversing entries optional? What
  is the main purpose of a financial statement
  worksheet and its benefits? How has automation
  aided the preparation, accuracy, and use of the
  financial statement worksheet?
•  

34
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 3 LT Reflection Summary
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Discuss the objectives for ACC 290 Week Two. 
  What do you think will be the most important of
  the skills learned when you are in an accounting
  position?  Differentiate between accrual basis
  and cash basis of accounting.  Create Adjusting
  Entries.  Prepare an adjusted trial balance. 

35
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 3 Practice Connect Practice
  Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•   
• ACC 290 Week 3 Practice Connect Practice
  Assignment
• Complete the Week3 Practice in Connect.
• Note You have unlimited attempts available to
  complete practice assignments
•  

36
ACC 290 (New) Keep Learning/newtonhelp

•  
• ACC 290 Week 3 Practice Quiz (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• Question 1
•  
• The revenue recognition principle dictates that
  revenue is recognized in the period in which the
  cash is received.            
•  
•  
•  

37
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 3 Problem 5-5A (Simon Company)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Purpose of Assignment 
• The purpose of this assignment is to help you
  become familiar with the parts of the
  multiple-step income statement.
• Assignment Steps 

38
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 3 Vocabulary Activity (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• WileyPLUS Assignment Week 3 Practice Quiz
• Resource WileyPLUS
• Complete the following Week 3 Assignment in
  WileyPLUS
• Chapter 4 Practice Quiz

39
ACC 290 (New) Keep Learning/newtonhelp

•  
• ACC 290 Week 3 WileyPlus Assignment BE4-1, P4-2A,
  P4-3A, BYP4-1, IFRS PQ-1, PQ-2, PQ-3, PQ-4 (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• Assignment Week 3 Assignment
• Complete the following Week 3 Assignment
• Brief Exercise 4-1
• Problem 4-2A

40
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 4/5 Individual Assignment Financial
  Reporting Problem Part II (2 Different
  Papers)(New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• Financial Reporting Problem Part II
• Access the internet to acquire a copy of the most
  recent annual report for the public traded
  company used to complete the Financial Reporting
  Problem, Part 1 assignment due in ACC 290 Week
  Four. 

41
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 4 Apply Connect Assignment (100
  Correct) (With Excel File)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• This Tutorial contains an Excel File which can be
  used for any values
• ACC 290 Week 4 Apply Connect Assignment
• Note You have only 1 attempt available to
  complete assignments

42
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 4 Apply Connect Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Week 4 Apply Connect Assignment
• Complete the Week 4 Assignment in Connect.
• Note You have only 1 attempt available to
  complete assignments
•  

43
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 4 Apply Connect Exercise
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• ACC 290 Week 4 Apply Connect Exercise
• Review the Knowledge Check in preparation for
  this assignment.
• Complete the Week 4 Exercise in Connect.

44
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 4 Chapter 6 Orion WileyPlus
  Proficiency and Practice Quiz
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• ACC 290 Chapter 6 Orion WileyPlus Build your
  Proficiency
• Q 6.1              Where is inventory reported?
• Q 6.2              ________ are items that will
  eventually be used in production

45
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 4 Discussion Question 1
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• How would you calculate cost of goods sold? What
  items make up cost of goods sold? How does
  beginning and ending inventory affect cost of
  goods sold? What are the journal entries a
  merchandising organization would use to record
  the purchase

46
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 4 Discussion Question 2
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• What are the three different inventory cost flow
  assumptions commonly used in commerce today and
  allowed by generally accepted accounting
  principles? How does a company determine what
  cost flow assumption they should use?
•  

47
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 4 LT Reflection Summary
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• Reflection and Financial Reporting Problem Part
  I.
• Discuss the objectives for ACC 290 Week Three. 
  How do they relate to the practice of accounting
  and its uses in business?  Prepare closing
  entries, reversing entries, and a post closing
  trial balance. 

48
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 4 Practice Connect Practice
  Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•   
• ACC 290 Week 4 Practice Connect Practice
  Assignment
• Complete the Week 4 Practice in Connect.
• Note You have unlimited attempts available to
  complete practice assignments.

49
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 4 Practice Quiz (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•   
• Question 1
•    A service company's operating cycle is
  ordinarily shorter than that of a merchandising
  company.
• The operating cycle of a merchandising company is
  ordinarily shorter than that of a service company.

50
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 4 Vocabulary Activity (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•   
• WileyPLUS Assignment Week 4 Vocabulary Activity
• Resource WileyPLUS
• Complete the following Week 4 Assignment in
  WileyPLUS
• Chapter 5 Crossword Puzzle 1

51
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 4 Wileyplus Assignment P4-8A,
  BYP5-1, BYP5-2, BE5-1, BE5-2, IFRS5-2, IFRS5-4,
  PQ-1, PQ-2, PQ-3 (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• Week 4 Assignment
• Complete the following Week 4 Assignment in
• Problem 4-8A
• Brief Exercise 5-1
• Brief Exercise 5-2

52
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 4Evaluate The Inventory Section Of
  Two companies Using Basic Comparative Analysis
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• The purpose of this assignment is to evaluate the
  inventory section of two companies using basic
  comparative analysis, and to interpret the data
  to gain insight about the company's inventory
  management.

53
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 5 Apply Connect Assignment (100
  Correct) (with Excel File)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• This Tutorial contains an Excel File which can be
  used for any values 
• ACC 290 Week 5 Apply Connect Assignment
• Note You have only 1 attempt available to
  complete assignments
•  

54
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 5 Apply Connect Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• On December 31, after adjustments, Gonzalez
  Companys ledger contains the following account
  balances
• 101 Cash 30,200 Dr.
• 111 Accounts Receivable 16,100 Dr.
• 121 Supplies 2,300 Dr.

55
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 5 Apply Connect Exercise
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• ACC 290 Week 5 Apply Connect Exercise
• Review the Knowledge Check in preparation for
  this assignment.
• Complete the Week 5 Exercise in Connect.

56
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 5 Discussion Question 1
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• What is the control environment? How does the
  control environment affect a companys internal
  controls? What are the negative and positive
  elements of a control environment? What are two
  examples of strong and weak internal controls in

57
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 5 IFRS Paper (New)
• For more course tutorials visit
• www.newtonhelp.com
•   
•  
• IFRS 2-1 In what ways does the format of a
  statement of financial of position under IFRS
  often differ from a balance sheet presented under
  GAAP?
• IFRS 2-2 Do the IFRS and GAAP conceptual
  frameworks differ in terms of the objective of
  financial reporting? Explain.

58
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 5 Learning Team Reflection Summary
  (New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
• Reflection and Financial Reporting Problem Part
  II.
• Discuss the objectives for ACC 290 Week Four.  In
  the wake of accounting scandals over the past
  several years, how has the Sarbanes-Oxley Act
  (SOX) of 2002 affected the practice of
  accounting?

59
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 5 Practice Connect Practice
  Assignment
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• ACC 290 Week 5 Practice Connect Practice
  Assignment
• Complete the Week 5 Practice in Connect.
• Note You have unlimited attempts available to
  complete practice assignments.

60
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 5 Preparing Comprehensive Bank
  Reconciliation (Daisey Company)
• For more course tutorials visit
• www.newtonhelp.com
•  
•  
•  
• Purpose of Assignment
• Reconciling bank accounts is a good way to help
  maintain internal controls over cash. With time
  lags and posting errors it is easy for cash
  transactions to be omitted, recorded in a
  different accounting period,

61
ACC 290 (New) Keep Learning/newtonhelp

• ACC 290 Week 5 WileyPlus Assignment BE6-5, BE6-7,
  BYP6-1, BYP6-2, BE7-4, BE7-6, IFRS PQ-1, PFRS
  PQ-2(New)
• For more course tutorials visit
• www.newtonhelp.com
•  
•   
• Assignment Week 5 Assignment
• Complete the following Week 5 Assignment
• IFRS Practice Question 1
• IFRS Practice Question 2
• Brief Exercise 6-5

62
ACC 290 (New) Keep Learning/newtonhelp