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ACC 206 Week 1 Assignment Chapter One Problems

ACC 206 Week 1 DQ1 Cash Flows Information

ACC 206 Week 1 DQ2 Apple's Cash Flow

ACC 206 Week 2 Assignment Chapter Two and Three Problems

ACC 206 Week 2 DQ1 Stock Features

ACC 206 Week 2 DQ2 Role of Management Accounting

ACC 206 Week 2 Journal Institute of Management Accounting

ACC 206 Week 3 Assignment Chapter Four and Five Problems

ACC 206 Week 3 DQ1 Issues in Costing

ACC 206 Week 3 DQ2 CVP and the Airline Industry

ACC 206 Week 3 Journal Hershey Company

ACC 206 Week 4 Assignment Chapter Six and Seven Problems

ACC 206 Week 4 DQ1 Issues in Standard Costs and Budgeting

ACC 206 Week 4 DQ2 Flexible Budgets

ACC 206 Week 5 Assignment Chapter Eight Problems

ACC 206 Week 5 Assignment Final Paper

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ACC 206 Week 1 Assignment Chapter One Problems (New)

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Answer the following questions:
Why are noncash transactions, such as the exchange of common stock a building, included on a statement of cash flows? How are these noncash transactions disclosed?

Chapter 1 Exercise 1:

1. Classification of activities
Classify each of the following transactions as arising from an operating (O), investing (I), financing (F), or noncash investing/financing (N) activity.

a. ________ Received $80,000 from the sale of land.

b. ________ Received $3,200 from cash sales.

c. ________ Paid a $5,000 dividend.

d. ________ Purchased $8,800 of merchandise for cash.

e. ________ Received $100,000 from the issuance of common stock.

f. ________ Paid $1,200 of interest on a note payable.

g. ________ Acquired a new laser printer by paying $650.

h. ________ Acquired a $400,000 building by signing a $400,000 mortgage note.

Chapter 1 Exercise 4:

4. Overview of direct and indirect methods

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ACC 206 Week 2 Assignment Chapter Two and Three Problems (New)

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Please complete the following 7 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in the appropriate week using the Assignment Submission button.

Chapter 2 Exercise 1

1. Issuance of stock

Prepare journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases:

a. Jackson Corporation has common stock with a par value of $1 per share.

b. Royal Corporation has no-par common with a stated value of $5 per share.

c. French Corporation has no-par common; no stated value has been assigned

Chapter 2 Exercise 3

3. Analysis of stockholders' equity

Star Corporation issued both common and preferred stock during 20X6. The stockholders' equity sections of the company's balance sheets at the end of 20X6 and 20X5 follow.

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ACC 206 Week 2 Journal Institute of Management Accounting (New)

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While there are many instances of overlap between financial accounting and management accounting, each group’s primary focus is different. Review the Institute of Management Accounting’s (IMA) website, specifically the “About IMA” and the “Resources and Publications” sections of the website. Are you surprised by the topics that management accountants are focusing on? Why or why not? What interests you more, financial accounting or management accounting?

Carefully review the Grading Rubric for the criteria that will be used to evaluate

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ACC 206 Week 3 Assignment Chapter Four and Five Problems (New)

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Please complete the following 7 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in the appropriate week using the Assignment Submission button.

Chapter 4 Exercise 3

3. Cost flows and overhead application

Cleveland Metals uses a job cost system and applies factory overhead to production at a predetermined rate of 180% of direct labor cost. Data pertaining to recent operations follow.

Job no. 636 was the only job in process on January 1 of the current year. The Work in Process account contained a $24,600 balance on this date.

Jobs no. 637, 638, and 639 were started during January.

Total direct material requisitions and direct labor incurred during January amounted to $89,200 and $114,500, respectively.

The only job that remained in process on January 31 was job no. 638, with costs of $15,000 for direct materials and $20,000 for direct labor.

a. Compute the total cost of the work in process inventory on January 31.

b. Compute the cost of jobs completed during January, and present the proper journal entry to reflect job completion.

Chapter 4 Exercise 7

7. Overhead application: Working backward

The Towson Manufacturing Corporation applies overhead on the basis of machine hours. The following divisional information is presented for your revi

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ACC 206 Week 3 Journal Hershey Company (New)

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Go the Hershey website to learn how to make Hershey chocolate. Review the process and take a look at some of the videos. Pay particular attention to the process steps of milling and pressing, mixing the ingredients, and refining.

In at least one paragraph, describe the costing system that you would recommend Hershey use to account for its cost of goods sold and why. Include a few product costs you think would be traceable, which costs should be allocated, and how Hershey should account and apply the manufacturing overhead costs.



Carefully review the Grading Rubric for the criteria that will be used to evaluate your journal entry.

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ACC 206 Week 4 Assignment Chapter Six and Seven Problems (New)

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Please complete the following 8 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in the appropriate week using the Assignment Submission button.

Chapter 6 Exercise 2

2. Schedule of cash collections
Sugarland Company sells a single product and anticipates opening a new facility in Charlotte on May 1 of the current year. Expected sales during the first three months of activity are: May, $60,000; June, $80,000; and July, $85,000. Thirty percent of all sales are for cash; the remaining 70% are on account. Credit sales have the following collection pattern:

Chapter 6 Exercise 4

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ACC 206 Week 5 Assignment Chapter Eight Problems (New)

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Please complete the following 5 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in the appropriate week using the Assignment Submission button.

Chapter 8 Exercise 1:

1. Basic present value calculations

Calculate the present value of the following cash flows, rounding to the nearest dollar:

a. A single cash inflow of $12,000 in five years, discounted at a 12% rate of return.

b. An annual receipt of $16,000 over the next 12 years, discounted at a 12% rate of return.

c. A single receipt of $15,000 at the end of Year 1 followed by a single receipt of $10,000 at the end of Year 3. The company has a 10% rate of return.

d. An annual receipt of $8,000 for three years followed by a single receipt of $10,000 at the end of Year 4. The company has a 12% rate of return.

Chapter 8 Exercise 4:

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ACC 206 Week 5 Assignment Final Paper (New)

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Focus of the Final Paper

You’ve just been hired onto ABC Company as the corporate controller. ABC Company is a manufacturing firm that specializes in making cedar roofing and siding shingles. The company currently has annual sales of around $1.2 million, a 25% increase from the previous year. The company has an aggressive growth target of reaching $3 million annual sales within the next 3 years. The CEO has been trying to find additional products that can leverage the current ABC employee skillset as well as the manufacturing facilities.

As the controller of ABC Company, the CEO has come to you with a new opportunity that he’s been working on. The CEO would like to use the some of the shingle scrap materials to build cedar dollhouses. While this new product line would add additional raw materials and be more time-intensive to manufacture than the cedar shingles, this new product line will be able to leverage ABC’s existing manufacturing facilities as well as the current staff. Although this product line will require added expenses, it will provide additional revenue and gross profit to help reach the growth targets. The CEO is relying on you to help decide how this project can be afforded Provide details about the estimated product costs, what is needed to break even on the project, and what level of return this product is expected to provide.

In order to help out the CEO, you need to prepare a six- to eight-page report that will contain the following information (including exhibits, but excluding your references and title page). Refer to the accompanying Excel spreadsheet (available through your online course) for some specific cost and profit information to complete the calculations.

Final Paper Spreadsheet

I. An overall risk profile of the company based on current economic and industry issues that it may be facing.

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