ACC 290 Uoptutorial

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Week 1 Discussion Question 1

Week 1 Discussion Question 2

Week 1 Individual Assignment Financial Statements Paper

Week 2 Discussion Question 1

Week 2 Discussion Question 2

Week 2 Individual WileyPLUS Assignment Week Two -Exercise E3-4 ,E3-9 Problem 3-5A, 3-6A

Week 2 LT Reflection Summary

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ACC 290 Finals

Question 1

Jackson Company recorded the following cash transactions for the year:

Paid $135,000 for salaries.

Paid $60,000 to purchase office equipment.

Paid $15,000 for utilities.

Paid $6,000 in dividends.

Collected $245,000 from customers.

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1) Which financial statement is used to determine cash generated from operations?

2) In terms of sequence, in what order must the four basic financial statements be prepared?

3) In classifying transactions, which of the following is true in regard to assets?

4) An increase in an expense account must be

5) ABC Corporation issues 100 shares of $1 par common stock at $5 per share, which of the following is the correct journal entry?

6) In the first month of operations, the total of the debit entries to the cash account amounted to $1,400 and the total of the credit entries to the cash account amounted to $600. The cash account has a

7) Which ledger contains control accounts?

8) Smith is a customer of ABC Corporation. Smith typically purchases merchandise from ABC on account. Which ledger would ABC use to keep track of the details of Smith’s account?

9) Under the cash basis of accounting,

10) Under the accrual basis of accounting,

11) The Vintage Laundry Company purchased $6,500 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $2,000 on hand. The adjusting entry that should be made by the company on June 30 is

12) Greese Company purchased office supplies costing $4,000 and debited Office Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $1,100 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be

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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 useful to internal users, such as to managers and employees. Discuss how the financial statements would be useful to external users, such as investors and creditors. Format paper according to APA standards.

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ACC 290 Week 1 Quiz

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.

Current assets are economic resources that are expected to be converted to cash or used up by the business within one year or the normal operating cycle, whichever is shorter.

Question 2

Land or a building which is currently not used in operation is considered to be a long-term investment.

A company purchased a tract of land on which it expects to build a production plant on in approximately five years. During the five years before construction, the land will be idle. In what classification should the land be reported?

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WileyPLUS Assignment: Week 1 Vocabulary Activity

Resource: WileyPLUS

Complete the following Week 1 Assignment in WileyPLUS:

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WileyPLUS and Financial Accounting.

Complete the following in WileyPLUS: Exercise E3-4, Exercise E3-9, Problem 3-5A, Problem 3-6A

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Discuss the objectives for Week One. How do they relate to the practice of accounting and its uses in business? Identify the four basic financial statements. Classify transactions using the rules of debit and credit. Journalize basic transactions. Discuss how financial statements would be useful to external users such as investors and creditors. Write a 350 to 500 word summary of your Learning Team’s discussion.

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Question 1

Expenses decrease retained earnings.

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WILEYPLUS ASSIGNMENT: WEEK 2 VOCABULARY ACTIVITY

RESOURCE: WILEYPLUS

COMPLETE THE FOLLOWING WEEK 2 ASSIGNMENT IN WILEYPLUS:

• Chapter 2 Wiley PLUS Crossword Puzzle 1

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we have another New set of week 4 Willeyplus assignment which could be found on this link

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Complete the following in WileyPLUS: Brief Exercise BE4-1, Problem P4-2A, and Problem P4-3A

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Discuss the objectives for 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. Write a 350 to 500 word summary of your Learning Team’s discussion.

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Question 1

The revenue recognition principle dictates that revenue is recognized in the period in which the cash is received.

Question 2

The generally accepted accounting principle which dictates that revenue be recognized in the accounting period in which the performance obligation is satisfied is the

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WileyPLUS Assignment: Week 3 Practice Quiz

Resource: WileyPLUS

Complete the following Week 3 Assignment in WileyPLUS:

• Chapter 4 Practice Quiz

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we have another New set of week 4 Willeyplus assignment which could be found on this link

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Complete the following in WileyPLUS: Problem P4-8A

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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 company’s balance sheet

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Reflection and Financial Reporting Problem Part I.

Discuss the objectives for 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. Prepare a financial statement work sheet. Prepare a classified income statement, retained earnings statement and balance sheet. Write a 350 to 500 word summary of your Learning Team’s discussion.

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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.

Question 2

Due to the turnover time of inventory, merchandising companies have an operating cycle that is longer than a service company.

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WileyPLUS Assignment: Week 4 Vocabulary Activity

Resource: WileyPLUS

Complete the following Week 4 Assignment in WileyPLUS

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we have another New set of week 5 Willeyplus assignment which could be found on this link

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Complete the following in WileyPLUS: Brief Exercise BE5-1, Brief Exercise BE5-2, Brief Exercise BE6-5, Brief Exercise BE6-7, Brief Exercise BE7-4, and Brief Exercise BE7-6

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Reflection and Financial Reporting Problem Part II.

Discuss the objectives for 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? What is the role of internal controls in complying with SOX (2002)? Write a 350 to 500 word summary of your Learning Team’s discussion.

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FINANCIAL Reporting Problem Part II


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