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ACC 205 Entire Course (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
ACC 205 Week 1 DQ 1
Accounting Equation (New)
As you have learned in this week’s
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.
ACC 205 new Academic
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ACC 205 Week 1 DQ 2 Accounts
(New)
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
ACC 205 Week 1 Exercise
Assignment Basic Accounting
Equations (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
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ACC 205 Week 1 Journal Balance
Sheet Journal (New)
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?
ACC 205 Week 2 DQ 1
Accounting Cycle (New)
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
ACC 205 new Academic
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ACC 205 Week 2 DQ 2 Bank
Reconciliation (New)
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.
ACC 205 Week 2 Exercise
Assignment Revenue and
Expenses (New)
1. Recognition of concepts. Ron
Carroll operates a small company
that books entertainers for theaters,
parties, conventions, and so forth.
The company’s fiscal year ends on
June 30. Consider the following
items and classify
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ACC 205 Week 2 Journal Income
Statement Journal (New)
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?
ACC 205 Week 3 DQ 1 LIFO vs.
FIFO (New)
The controller of Sagehen Enterprises
believes that the company should
switch from the LIFO method to the
FIFO method. The controller’s bonus
is based on the next income. It is
the controller’s 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?
ACC 205 new Academic
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ACC 205 Week 3 DQ 2
Depreciation (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
ACC 205 Week 3 Exercise
Assignment Inventory (New)
1. Specific identification method.
Boston Galleries uses the specific
identification method for inventory
valuation. Inventory information for
several oil paintings follows.
Painting
Cost
ACC 205 new Academic
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ACC 205 Week 3 Journal
Inventory Journal (New)
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
ACC 205 Week 4 DQ 1 Current
Liability (New)
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.
Guided Response:
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ACC 205 Week 4 DQ 2 Client
Recommendations (New)
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.
ACC 205 Week 4 Exercise
Assignment Liability (New)
. 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
ACC 205 new Academic
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ACC 205 Week 4 Journal Future
Obligations Journal (New)
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?
ACC 205 Week 5 DQ 1 (New)
ACC 205 Week 5 DQ 1
ACC 205 new Academic
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ACC 205 Week 5 DQ 2 (New)
ACC 205 Week 5 DQ 2
ACC 205 Week 5 Exercise
Assignment Financial Ratios
(New)
1.
Liquidity ratios. Edison, Stagg,
and Thornton have the following
financial information at the close of
business on July 10:
Edison
Stagg
Thornton
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ACC 205 Week 5 Final Paper
Paper (New)
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.
ACC 205 Week 5 Journal Most
Important Ratio Journal (New)
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
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