ACC 290 NEW Tutorial/ Uoptutorial

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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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we have another New set of Final Exam which could be found on this link

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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?

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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 FINANCIALstatements. 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.

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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 Assignment: Week 1 Assignment

Resource: WileyPLUS

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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.

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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.

Question 2

During 2014, Gibson Company assets decreased $50,000 and its liabilities decreased $90,000. Its stockholders’ equity

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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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WILEYPLUS ASSIGNMENT: WEEK 2 ASSIGNMENT

RESOURCE: WILEYPLUS

COMPLETE THE FOLLOWING WEEK 2 ASSIGNMENT IN WILEYPLUS

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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 and income statement to answer the following questions:

What are the company’s total assets at the end of its most recent annual reporting period? Why is this important?

What are the total assets at the end of the previous annual reporting period?

How much cash and cash equivalents did the company have at the end of its most recent annual reporting period?

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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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WILEYPLUS ASSIGNMENT: WEEK 3 ASSIGNMENT

RESOURCE: WILEYPLUS

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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. Analyze the information contained in the company’s balance sheet and income statement to answer the following questions

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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.

The operating cycle of a merchandising company is ordinarily ___________________ that of a service firm.

Question 3

The cost of having merchandise delivered to the store is part of the cost of getting the inventory ready to sell. All costs incurred to get inventory ready to sell are included as part of Inventory account with a debit.

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WileyPLUS Assignment: Week 4 Vocabulary Activity

Resource: WileyPLUS

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WileyPLUS Assignment: Week 4 Assignment

Resource: WileyPLUS

Complete the following Week 4 Assignment in WileyPLUS

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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.

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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? 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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WileyPLUS Assignment: Week 5 Assignment

Resource: WileyPLUS

Complete the following Week 5 Assignment in WileyPLUS:

  • Brief Exercise 6-5
  • Brief Exercise 6-7
  • BYP 6-1
  • BYP 6-2
  • Brief Exercise 7-4
  • Brief Exercise 7-5
  • Brief Exercise 7-6
  • Brief Exercise 5-1
  • Brief Exercise 5-2
  • E4-17

    E4-18


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