Upload
sadgfsd
View
215
Download
0
Embed Size (px)
Citation preview
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
1/125
ACC 205 Entire Course (Ash)
FOR MORE CLASSES VISIT
www.acc205outlet.com
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 DQ 1 Accounting Cycle
ACC 205 Week 2 DQ 2 Bank Reconciliation
ACC 205 Week 2 Journal nco!e State!ent Journal
ACC 205 Week " DQ 1 #$% &s' $$%
ACC 205 Week " DQ 2 De(reciation
ACC 205 Week " Journal n&entory Journal
ACC 205 Week ) DQ 1 Current #ia*ility
ACC 205 Week ) DQ 2 Client Reco!!en+ations
ACC 205 Week ) Journal $uture %*ligations Journal
ACC 205 Week 5 Journal ,ost !(ortant Ratio
Journal
ACC 205 Week 5 Journal ,ost !(ortant Ratio
Journal
http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
2/125
ACC 205 Week 5 E-ercise Assign!ent $inancial
Ratios
ACC 205 Week ) E-ercise Assign!ent #ia*ility
ACC 205 Week 1 E-ercise Assign!ent Basic
Accounting Equations
ACC 205 Week " E-ercise Assign!ent n&entory
ACC 205 Week 2 E-ercise Assign!ent Re&enue an+
E-(enses
***********************************************************************************
ACC 205 Entire Course(New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
ACC 205 Week 1 DQ 1 Accounting Equation
ACC 205 Week 1 DQ 2 Accounts
ACC 205 Week 1 Journal Balance Sheet Journal
ACC 205 Week 2 DQ 1 Accounting Cycle
http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
3/125
ACC 205 Week 2 DQ 2 Bank Reconciliation
ACC 205 Week 2 Journal nco!e State!ent Journal
ACC 205 Week " DQ 1 #$% &s' $$%
ACC 205 Week " DQ 2 De(reciation
ACC 205 Week " Journal n&entory Journal
ACC 205 Week ) DQ 1 Current #ia*ility
ACC 205 Week ) DQ 2 Client Reco!!en+ations
ACC 205 Week ) Journal $uture %*ligations Journal
ACC 205 Week 5 Journal ,ost !(ortant Ratio
Journal
ACC 205 Week 5 Journal ,ost !(ortant Ratio
Journal
ACC 205 Week 5 E-ercise Assign!ent $inancial
Ratios
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
4/125
ACC 205 Week ) E-ercise Assign!ent #ia*ility
ACC 205 Week 1 E-ercise Assign!ent Basic
Accounting Equations
ACC 205 Week " E-ercise Assign!ent n&entory
ACC 205 Week 2 E-ercise Assign!ent Re&enue an+
E-(enses
**********************************************************************************
ACC 205 Final Paper (New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
$inal .a(er
$ocus o/ the $inal .a(er
Write a &e to se&en (age nancial state!ent
analysis o/ a (u*lic co!(any an+ /or!atte+
accor+ing to A.A style as outline+ in the Ash/or+
http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
5/125
Writing Center' n this analysis you ill +iscuss the
nancial health o/ this co!(any ith the ulti!ate
goal o/ !aking a reco!!en+ation to other in&estors'
3our (a(er shoul+ consist o/ the /olloing sections4intro+uction co!(any o&er&ie horiontal analysis
ratio analysis nal reco!!en+ation an+
conclusions'
6ere is a *reak+on o/ the sections ithin the *o+y
o/ the assign!ent4
Co!(any %&er&ie
.ro&i+e a *rie/ o&er&ie o/ your co!(any 7one to
to (aragra(hs at !ost8' What in+ustry is it in9
What are its !ain (ro+ucts or ser&ices9 Who are its
co!(etitors9
6oriontal Analysis o/ nco!e State!ent an+
Balance Sheet
.re(are a three:year horiontal analysis o/ the
inco!e state!ent an+ *alance sheet o/ yourselecte+ co!(any' Discuss the i!(ortance an+
!eaning o/ horiontal analysis' Discuss *oth the
(ositi&e an+ negati&e tren+s (resente+ in your
co!(any'
Ratio Analysis
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
6/125
Calculate the current ratio quick ratio cash to
current lia*ilities ratio o&er a to year (erio+'
Discuss an+ inter(ret the ratios that you calculate+'
Discuss (otential liqui+ity issues *ase+ on yourcalculations o/ the current an+ quick ratios' Are
there any /actors that coul+ *e erroneously
in;uencing the results o/ the ratios9 Discuss
liqui+ity issues o/ co!(etiti&e co!(anies ithin the
sa!e in+ustry'
Reco!!en+ation
Base+ on your analysis oul+ you reco!!en+ an
in+i&i+ual in&est in this co!(any9 What strengths
+o you see9 What risks +o you see9 t is (er/ectly
acce(ta*le to state that you oul+ reco!!en+
a&oi+ing this co!(any as long as you (ro&i+e
su((ort /or your (osition'
Writing the $inal .a(er
1' ,ust *e &e to se&en +ou*le:s(ace+ (ages in
length an+ /or!atte+ accor+ing to A.A style as
outline+ in the Ash/or+ Writing Center'
2' ,ust inclu+e a title (age ith the /olloing4
a'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
7/125
+' nstructor=s na!e
e' Date su*!itte+
"' ,ust *egin ith an intro+uctory (aragra(h thathas a succinct thesis state!ent'
)' ,ust a++ress the to(ic o/ the (a(er ith critical
thought'
5' ,ust en+ ith a conclusion that rea>r!s your
thesis'
?' ,ust +ocu!ent all sources in A.A style as
outline+ in the Ash/or+ Writing Center'
@' ,ust inclu+e a se(arate re/erence (age
/or!atte+ accor+ing to A.A style as outline+ in the
Ash/or+ Writing Center'
Care/ully re&ie the ra+ing Ru*ric /or the criteria
that ill *e use+ to e&aluate your assign!ent'
**********************************************************************************
ACC 205 Week 1 DQ 1 Aountin! E"uation (Ash)
FOR MORE CLASSES VISIT
www.acc205outlet.com
http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
8/125
Accounting Equation
As you ha&e learne+ in this eek=s rea+ings the Accounting Equation is %ners= Equity' s the
accounting equation true in all instances9 .ro&i+e
sa!(le transactions /ro! your on e-(eriences to
+e!onstrate the &ali+ity o/ the Accounting Equation'
ui+e+ Res(onse4
Re&ie se&eral o/ your (eers= (ostings an+ i+enti/y
so!e core co!(onents that you /eel shoul+ *e
inclu+e+ in e&ery transaction' Res(on+ to at least
to o/ your (eers an+ (ro&i+e reco!!en+ations to
e-ten+ their thinking' Challenge your (eers *y
asking a question that !ay cause the! to
ree&aluate or a++ co!(onents to their transactions'
**********************************************************************************
ACC 205 Week 1 DQ 1 Aountin! E"uation (New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
Accounting Equation
http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
9/125
As you ha&e learne+ in this eek=s rea+ings the
Accounting Equation is %ners= Equity' s the
accounting equation true in all instances9 .ro&i+e
sa!(le transactions /ro! your on e-(eriences to+e!onstrate the &ali+ity o/ the Accounting Equation'
ui+e+ Res(onse4
Re&ie se&eral o/ your (eers= (ostings an+ i+enti/y
so!e core co!(onents that you /eel shoul+ *e
inclu+e+ in e&ery transaction' Res(on+ to at least
to o/ your (eers an+ (ro&i+e reco!!en+ations to
e-ten+ their thinking' Challenge your (eers *y
asking a question that !ay cause the! to
ree&aluate or a++ co!(onents to their transactions'
**********************************************************************************
ACC 205 Week 1 DQ 2 Aounts (Ash)
FOR MORE CLASSES VISIT
www.acc205outlet.com
Accounts
What +oes the ter! account !ean9 What are the
+ierent classications o/ accounts9 6o +o the
http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
10/125
rules /or De*its an+ Cre+its i!(act accounts9 .lease
(ro&i+e an e-a!(le o/ ho +e*its an+ cre+its i!(act
accounts'
ui+e+ Res(onse4
Analye se&eral o/ your (eers= (ostings' #et at least
to o/ your (eers kno i/ this knole+ge coul+ *e
use+ in their e&ery+ay li&es' s so ho9 / not hy
not9
**********************************************************************************
ACC 205 Week 1 DQ 2 Aounts (New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
Accounts
What +oes the ter! account !ean9 What are the
+ierent classications o/ accounts9 6o +o the
rules /or De*its an+ Cre+its i!(act accounts9 .lease
(ro&i+e an e-a!(le o/ ho +e*its an+ cre+its i!(act
accounts'
http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
11/125
ui+e+ Res(onse4
Analye se&eral o/ your (eers= (ostings' #et at least
to o/ your (eers kno i/ this knole+ge coul+ *e
use+ in their e&ery+ay li&es' s so ho9 / not hy
not9
**********************************************************************************
ACC 205 Week 1 E#erise Assi!n$ent %asi Aountin! E"uations (Ash)
FOR MORE CLASSES VISIT
www.acc205outlet.com
18 Basic conce(ts' JeanFs ,arine Su((ly s(ecialies
in the sale o/ *oating equi(!ent an+ accessories'
+enti/y the ite!s that /ollo as an asset 7A8 lia*ility
7#8 re&enue 7R8 or e-(ense 7E8 /ro! the r!Fs
&ie(oint'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
12/125
A loan oe+ to Citiens Bank' 7#8
Ge co!(uter equi(!ent (urchase+ to han+le +aily
recor+ kee(ing' 7A8
Daily sales !a+e to custo!ers' 7R8
A!ounts +ue /ro! custo!ers' 7R8
#an+ one+ *y the co!(any to *e use+ as a /uture
store site' 7A8
Weekly salaries (ai+ to sales(eo(le' 7E8
28 Basic co!(utations'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
13/125
Cash @)00
Ltilities E-(ense )100
$ee Re&enue 5?K00
Wage E-(ense "@500
a' Deter!ine Rossi=s total assets as o/ Dece!*er "1'
*' Deter!ine the co!(any=s total lia*ilities as o/Dece!*er "1'
c' Co!(ute 20H" net inco!e or loss'
"' Balance sheet (re(aration'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
14/125
.re(are a *alance sheet as o/ Dece!*er "1 1KHH'
7See E-hi*it 1'1 an+ 1')8
)' Basic transaction (rocessing' %n Go&e!*er 1 o/
the current year Richar+ .arker esta*lishe+ a sole
(ro(rietorshi(' ce
/urniture in ite! "'
4 Recei&e+ a I150 electric *ill to *e (ai+ ne-t
!onth'
K4 .arker ith+re I?00 /ro! the *usiness'
104 Recei&e+ I250 in cash /ro! clients /or consulting
ser&ices ren+ere+'
nstructions
a' Arrange the /olloing asset lia*ility an+ oner=s
equity ele!ents o/ the accounting equation4 Cash
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
15/125
Accounts Recei&a*le %>ce $urniture Man Accounts
.aya*le n&est!entsNWith+raals an+
Re&enuesNE-(enses' 7See E-hi*it 58
*' Recor+ each transaction on a se(arate line' A/ter
all transactions ha&e *een recor+e+ co!(ute the
*alance in each o/ the (rece+ing ite!s'
c' Anser the /olloing questions /or .arker'
718 6o !uch +oes the co!(any oe to its cre+itors
at !onth:en+9 %n hich nancial state!ent7s8
oul+ this in/or!ation *e /oun+9
728 Di+ the co!(any ha&e a goo+ !onth /ro! an
accounting &ie(oint9 Brie;y e-(lain'
5'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
16/125
"N14 Acquire+ IK000 o/ equi(!ent /ro! .ark
Central %uttters *y (aying
I@000 +on an+ agreeing to re!it the *alance
oe+ ithin the ne-t
2 eeks 7Accounts .aya*le8'
"N224 Recei&e+ I"00 cash /ro! clients /or ser&ices'
"N2)4 .ai+ I1500 on account to .ark Central
%uttters in (artial settle!ent
o/ the *alance +ue /ro! the transaction on ,arch
1'
"N24 Rente+ a car /ro! Lnite+ Car Rental /or use on
,arch 2'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
17/125
Assets O
#ia*ilites
%nerFs Equity
Cash Accounts Recei&a*le #an+ Equi(!ent
Accounts .aya*le
78 n&est!ents 78 Re&enues 7:8 With+raals 7:8
E-(enses
a' Recor+ each transaction on a se(arate line'
Calculate *alances only a/ter the last transaction has
*een recor+e+'
*' .re(are an inco!e state!ent a state!ent o/
oner=s equity an+ a *alance sheet 7See E-hi*it
1'1 1'" an+ 1')8
?' Recognition o/ nor!al *alances
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
18/125
c' .ro!otional costs to (u*licie a concert'
+' Daily recei(ts /or !erchan+ise sol+
e' A!ounts +ue /ro! custo!ers
/' #an+ hel+ as an in&est!ent
g' A ne /a- !achine (urchase+ /or o>ce use'
h' A!ounts to *e (ai+ in 10 +ays to su((liers
i' A!ounts (ai+ to a !all /or rent'
@'Basic ournal entries
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
19/125
Collecte+ I00 /ro! Jason Ratch/or+ /or ser&ices
(ro&i+e+ on A(ril 5'
2)
Borroe+ I@500 /ro! BestBanc *y securing a si-:
!onth loan'
.re(are ournal entries 7an+ e-(lanations8 to recor+
the (rece+ing transactions an+ e&ents'
'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
20/125
#oan .aya*le
2?000
Bo* Brighton %ners Equity
"0000
Salaries E-(ense
11100
Cash
22500
Ltilities E-(ense
@00
$ees Earne+ 1K00
a' Deter!ine the cost o/ the co!(any=s lan+ *y
(re(aring a trial *alance' 7Re!e!*er the trial
*alance +e*its !ust equal the cre+its see E-hi*it
2'K8
*' Deter!ine the r!=s net inco!e /or the (erio+
en+ing ,arch "1'
K' Entry an+ trial *alance (re(aration' #ee A+kins is
a (ortrait artist'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
21/125
Account nu!*er Account na!e
De*it Cre+it
110
Cash
I 2@00
120
Accounts Recei&a*le
12100
1"0
Equi(!ent an+ Su((lies
200
1)0
Stu+io
)5000
210
Accounts .aya*le
I2?00
"10
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
22/125
#ee A+kins %ners Equity
5@)00
"20
#ee A+kins Draing
"0000
)10
Re&enue
"K000
510
A+&ertising E-(ense2"00
520
Salaries E-(ense
2100
5)0
Ltilities E-(ense
2000
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
23/125
IKK000
IKK000
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
24/125
*' %(en running *alance le+ger
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
25/125
@00
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
26/125
Week %ne Assign!ent
18 Basic conce(ts' JeanFs ,arine Su((ly s(ecialies
in the sale o/ *oating equi(!ent an+ accessories'
+enti/y the ite!s that /ollo as an asset 7A8 lia*ility
7#8 re&enue 7R8 or e-(ense 7E8 /ro! the r!Fs
&ie(oint'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
27/125
Weekly salaries (ai+ to sales(eo(le' 7E8
28 Basic co!(utations'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
28/125
c' Co!(ute 20H" net inco!e or loss'
"' Balance sheet (re(aration'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
29/125
?4 Recei&e+ I00 /ro! clients ho ere (re&iously
*ille+ in ite! )'
@4 .ai+ I500 on account to the su((lier o/ o>ce
/urniture in ite! "'
4 Recei&e+ a I150 electric *ill to *e (ai+ ne-t
!onth'
K4 .arker ith+re I?00 /ro! the *usiness'
104 Recei&e+ I250 in cash /ro! clients /or consulting
ser&ices ren+ere+'
nstructions
a' Arrange the /olloing asset lia*ility an+ oner=s
equity ele!ents o/ the accounting equation4 Cash
Accounts Recei&a*le %>ce $urniture Man Accounts
.aya*le n&est!entsNWith+raals an+Re&enuesNE-(enses' 7See E-hi*it 58
*' Recor+ each transaction on a se(arate line' A/ter
all transactions ha&e *een recor+e+ co!(ute the
*alance in each o/ the (rece+ing ite!s'
c' Anser the /olloing questions /or .arker'
718 6o !uch +oes the co!(any oe to its cre+itors
at !onth:en+9 %n hich nancial state!ent7s8
oul+ this in/or!ation *e /oun+9
728 Di+ the co!(any ha&e a goo+ !onth /ro! an
accounting &ie(oint9 Brie;y e-(lain'
5'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
30/125
Enter(rises /or ,arch 20H1 the co!(any=s rst
!onth o/ acti&ity'
"N14 Joanne Burton the oner in&este+ I20000 into
the *usiness'
"N)4 .er/or!e+ I2)00 o/ ser&ices on account'
"N@4 Acquire+ a s!all (arcel o/ lan+ *y (aying
I?000 cash'
"N124 Recei&e+ I@00 /ro! a client ho as *ille+ (re&iously on ,arch )'
"N154 .ai+ I00 to the Journal 6eral+ /or a+&ertising
e-(ense'
"N14 Acquire+ IK000 o/ equi(!ent /ro! .ark
Central %uttters *y (aying
I@000 +on an+ agreeing to re!it the *alance
oe+ ithin the ne-t
2 eeks 7Accounts .aya*le8'
"N224 Recei&e+ I"00 cash /ro! clients /or ser&ices'
"N2)4 .ai+ I1500 on account to .ark Central
%uttters in (artial settle!ent
o/ the *alance +ue /ro! the transaction on ,arch
1'
"N24 Rente+ a car /ro! Lnite+ Car Rental /or use on
,arch 2'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
31/125
"N"14 .ai+ IK00 /or ,arch ages'
"N"14 .rocesse+ a I?00 cash ith+raal /ro! the
*usiness /or Joanne Burton'
nstructions
a' Deter!ine the i!(act o/ each o/ the (rece+ing
transactions on Burton=s assets lia*ilities an+
oner=s equity' See e-hi*it 1'5' Lse the /olloing
/or!at4
Assets O
#ia*ilites
%nerFs Equity
Cash Accounts Recei&a*le #an+ Equi(!ent
Accounts .aya*le
78 n&est!ents 78 Re&enues 7:8 With+raals 7:8
E-(enses
a' Recor+ each transaction on a se(arate line'
Calculate *alances only a/ter the last transaction has
*een recor+e+'
*' .re(are an inco!e state!ent a state!ent o/
oner=s equity an+ a *alance sheet 7See E-hi*it
1'1 1'" an+ 1')8
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
32/125
?' Recognition o/ nor!al *alances
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
33/125
Jenni/er Royall in&este+ cash o/ I15000 an+ lan+
&alue+ at I10000 /ro! into the *usiness'
5
.ro&i+e+ I1200 o/ ser&ices to Jason Ratch/or+ a
client on account'
K
.ai+ I250 o/ salaries to an e!(loyee'
1)
Acquire+ a ne co!(uter /or I"200 on account'
20
Collecte+ I00 /ro! Jason Ratch/or+ /or ser&ices
(ro&i+e+ on A(ril 5'
2)
Borroe+ I@500 /ro! BestBanc *y securing a si-:
!onth loan'
.re(are ournal entries 7an+ e-(lanations8 to recor+
the (rece+ing transactions an+ e&ents'
'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
34/125
I 12000
nterest E-(ense
I "00
Accounts Recei&a*le
00
#an+
9
A+&ertising E-(ense
5@00
#oan .aya*le
2?000
Bo* Brighton %ners Equity
"0000
Salaries E-(ense
11100
Cash
22500
Ltilities E-(ense
@00
$ees Earne+ 1K00
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
35/125
a' Deter!ine the cost o/ the co!(any=s lan+ *y
(re(aring a trial *alance' 7Re!e!*er the trial
*alance +e*its !ust equal the cre+its see E-hi*it
2'K8
*' Deter!ine the r!=s net inco!e /or the (erio+
en+ing ,arch "1'
K' Entry an+ trial *alance (re(aration' #ee A+kins is
a (ortrait artist'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
36/125
1)0
Stu+io
)5000
210
Accounts .aya*le
I2?00
"10
#ee A+kins %ners Equity
5@)00
"20
#ee A+kins Draing
"0000
)10
Re&enue
"K000
510
A+&ertising E-(ense
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
37/125
2"00
520
Salaries E-(ense
2100
5)0
Ltilities E-(ense
2000
IKK000
IKK000
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
38/125
Recei&e+ a I500 *ill /ro! the accountant /or
(re(aring last quarter=s nancial state!ents'
?N154
.ai+ I2100 to cre+itors on account'
?N2@4
A+kins ith+re I1000 cash /or (ersonal use'
?N"04
Bille+ a custo!er I"000 /or a (ortrait (ainte+ this!onth'
a' Recor+ the necessary ournal entries /or June on
(age 2 o/ the co!(any=s general ournal' 7See
E-hi*it 2'?8
*' %(en running *alance le+ger
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
39/125
an+ agree+ to re!it the re!aining *alance +ue o/
I20000 7an account (aya*le8 *y $e*ruary 15'
During January the co!(any ha+ a++itional
cash outlays /or the /olloing ite!s4
.urchases o/ store equi(!ent
I)?00
#oan (ay!ent
500
Salaries e-(ense
2"00
A+&ertising e-(ense
@00
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
40/125
*' Co!(ute the total +e*its total cre+its an+
en+ing *alance that oul+ *e /oun+ in the
co!(anyFs Cash account' 7.ost to
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
41/125
Care/ully re&ie the ra+ing Ru*ric /or the criteria
that ill *e use+ to e&aluate your ournal entry'
**********************************************************************************
ACC 205 Week 1 &ournal %alane 'heet &ournal (New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
Balance Sheet Journal
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
42/125
**********************************************************************************
ACC 205 Week 2 DQ 1 Aountin! Cle (Ash)
FOR MORE CLASSES VISIT
www.acc205outlet.com
ACC 205 Week 2 DQ 1
Accounting Cycle
$inancial state!ents are a (ro+uct o/ the accounting
cycle'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
43/125
**********************************************************************************
ACC 205 Week 2 DQ 1 Aountin! Cle (New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
ACC 205 Week 2 DQ 1
Accounting Cycle
$inancial state!ents are a (ro+uct o/ the accountingcycle'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
44/125
that !ay cause the! to ree&aluate their (osition on
the accounting cycle'
**********************************************************************************
ACC 205 Week 2 DQ 2 %ank eoniliation (Ash)
FOR MORE CLASSES VISIT
www.acc205outlet.com
Bank Reconciliation
What is the (ur(ose o/ a *ank reconciliation9 Whatare the reasons there are +ierences *eteen the
cash re(orte+ in the accounting recor+s an+ the
cash *alance in the *ank state!ents9
Analye se&eral o/ your (eers= (ostings' #et at least
to o/ your (eers kno hat ha((ens to the+iscre(ancies *eteen the *ook *alance an+ the
*ank *alance' Coul+ these +ierences ust *e
ritten o'
ui+e+ Res(onse4
http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
45/125
A *ank reconciliation reconciles the *ank account
*alance (er the *ooks to the actual *ank *alance'
%utstan+ing checks +e(osits in transit an+ *ank
errors are reasons there are +ierences *eteen thecash re(orte+ in the accounting recor+s an+ the
cash *alance in the *ank state!ents'
**********************************************************************************
ACC 205 Week 2 DQ 2 %ank eoniliation (New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
Bank Reconciliation
What is the (ur(ose o/ a *ank reconciliation9 What
are the reasons there are +ierences *eteen the
cash re(orte+ in the accounting recor+s an+ the
cash *alance in the *ank state!ents9
Analye se&eral o/ your (eers= (ostings' #et at least
to o/ your (eers kno hat ha((ens to the
+iscre(ancies *eteen the *ook *alance an+ the
http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
46/125
*ank *alance' Coul+ these +ierences ust *e
ritten o'
ui+e+ Res(onse4
A *ank reconciliation reconciles the *ank account
*alance (er the *ooks to the actual *ank *alance'
%utstan+ing checks +e(osits in transit an+ *ank
errors are reasons there are +ierences *eteen the
cash re(orte+ in the accounting recor+s an+ the
cash *alance in the *ank state!ents'
**********************************************************************************
ACC 205 Week 2 E#erise Assi!n$ent eenue an+ E#penses (Ash)
FOR MORE CLASSES VISIT
www.acc205outlet.com
1' Recognition o/ conce(ts' Ron Carroll o(erates as!all co!(any that *ooks entertainers /or theaters
(arties con&entions an+ so /orth'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
47/125
a' A!ounts (ai+ on June "0 /or a 1:year insurance
(olicy
*' .ro/essional /ees earne+ *ut not *ille+ as o/ June
"0
c' Re(airs to the r!=s co(y !achine incurre+ an+
(ai+ in June
+' An a+&ance (ay!ent /ro! a client /or a
(er/or!ance ne-t !onth at a con&ention
e'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
48/125
2' Analysis o/ (re(ai+ account *alance'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
49/125
nterest .aya*le
Accu!ulate+ De(reciation4 Equi(!ent
Ale- eny Draing
Accounts .aya*le
Ser&ice Re&enue
Cash
Accounts Recei&a*le
Su((lies E-(ense
nterest E-(ense
Which o/ the (rece+ing accounts
a' a((ear on a (ost:closing trial *alance9
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
50/125
*' are co!!only knon as te!(orary or no!inal
accounts9
c' generate a +e*it to nco!e Su!!ary in the
closing (rocess9
+' are close+ to the ca(ital account in the closing
(rocess9
)' A+usting entries an+ nancial state!ents'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
51/125
(ay!ent as /or ? !onths= rent o/ $i-ation=s
hea+quarters *eginning on Go&e!*er 1'
$i-ation=s accounting year en+s on Dece!*er "1'
nstructions
Analye the &e (rece+ing cases in+i&i+ually an++eter!ine the /olloing4
a'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
52/125
o/ Dece!*er "1 20H" the close o/ the current
re(orting (erio+' n the course o/ your e-a!ination
you +isco&er the /olloing4
%n January 1 20H" the Su((lies account ha+ a
*alance o/ I2"50' During the year I5520 orth o/
su((lies as (urchase+ an+ a *alance o/ I1?20
re!aine+ unuse+ on Dece!*er "1'
Lnrecor+e+ interest oe+ to the centertotale+ I2@5
as o/ Dece!*er "1'
All clients (ay tuition in a+&ance an+ their (ay!ents
are cre+ite+ to the Lnearne+
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
53/125
Date .ai+
.olicy Go'
#ength o/ .olicy
A!ount
$e*' 1 20H2
10"",C,1K
1 year
I5)0
Jan' 1 20H"
@K52@K6.
1 year
K12
Aug' 1 20H"
HQK)"?@5S
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
54/125
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
55/125
100
Gote collecte+ *y *ank
1000
GS$ check returne+ *y the *ank ith the *ank
state!ent
?50
%utstan+ing checks
"00
nstructions4
a' .re(are .al!etto=s January *ank reconciliation'
*' .re(are any necessary ournal entries /or
.al!etto'
@' Direct rite:o !etho+' 6arris*urg Co!(any
hich *egan *usiness in early 20H@ re(orte+
I)0000 o/ accounts recei&a*le on the Dece!*er "1
20H@ *alance sheet' nclu+e+ in this a!ount as
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
56/125
I550 /or a sale !a+e to
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
57/125
718 Lncollecti*le accounts are esti!ate+ to *e 5 o/
Cre+it Sales'
728 Lncollecti*le accounts are esti!ate+ to *e 1)
o/ Accounts Recei&a*le'
*' 6o oul+ ,a&erick=s Accounts Recei&a*le
a((ear on the Dece!*er "1 *alance sheet un+er
assu!(tion 718 o/ (art 7a89
c' 6o oul+ ,a&erick=s Accounts Recei&a*le
a((ear on the Dece!*er "1 *alance sheet un+er
assu!(tion 728 o/ (art 7a89
K' Direct rite:o an+ alloance !etho+s4 !atching
a((roach'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
58/125
Alloance /or Lncollecti*le Accounts
I "000
Sales
55000
nstructions
a' Deter!ine the a+usting entry /or *a+ +e*ts un+er
each o/ the /olloing con+itions4
718 An aging sche+ule in+icates that I12)20 o/
accounts recei&a*le ill *e uncollecti*le'
728 Lncollecti*le accounts are esti!ate+ at 2 o/ net
sales'
*' %n January 1K 20H"
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
59/125
c' Re(eat the require!ent in (art 7*8 using the
+irect rite:o !etho+'
+' n light o/ the 6ouse *ankru(tcy e-a!ine the
alloance an+ +irect rite:o !etho+s in ter!s o/
their a*ility to (ro(erly !atch re&enues an+
e-(enses'
10' Alloance !etho+4 analysis o/ recei&a*les' At a
January 20H2 !eeting the (resi+ent o/ Sonic Soun+
+irecte+ the sales sta to !o&e so!e (ro+uct this
year'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
60/125
I2"K@000
I)2"000
Accounts Recei&a*le 12N"1
12)))000
105?000
Alloance /or Lncollecti*le Accounts 12N"1
9
2"000 cr'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
61/125
Ln+er "1 +ays
I5"21000
KK
"12?0 +ays
"K0000
K0
?12K0 +ays
10?@000
0
%&er K0 +ays
21??000
?0
Assu!e that no accounts ere ritten o +uring
20H2'
nstructions
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
62/125
a' Esti!ate the a!ount o/ Lncollecti*le Accounts as
o/ Dece!*er "1 20H2'
*' What is the co!(any=s Lncollecti*le Accounts
e-(ense /or 20H29
c' Co!(ute the net realia*le &alue o/ Accounts
Recei&a*le at the en+ o/ 20H1 an+ 20H2'
+' Co!(ute the net realia*le &alue at the en+ o/
20H1 an+ 20H2 as a (ercentage o/ res(ecti&e year:
en+ recei&a*les *alances' Analye your n+ings an+
co!!ent on the (resi+ent=s +ecision to close the
cre+it e&aluation +e(art!ent'
**********************************************************************************
ACC 205 Week 2 E#erise Assi!n$ent eenue an+ E#penses (New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
63/125
1' Recognition o/ conce(ts' Ron Carroll o(erates a
s!all co!(any that *ooks entertainers /or theaters
(arties con&entions an+ so /orth'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
64/125
g'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
65/125
Care/ully re&ie the ra+ing Ru*ric /or the criteria
that ill *e use+ to e&aluate your ournal entry'
**********************************************************************************
ACC 205 Week 2 &ournal ,no$e 'tate$ent &ournal (New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
nco!e State!ent Journal
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
66/125
Care/ully re&ie the ra+ing Ru*ric /or the criteria
that ill *e use+ to e&aluate your ournal entry'
**********************************************************************************
ACC 205 Week - DQ 1 .,F/ s F,F/ (Ash)
FOR MORE CLASSES VISIT
www.acc205outlet.com
#$% &s' $$%
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
67/125
ACC 205 Week - DQ 1 .,F/ s F,F/ (New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
#$% &s' $$%
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
68/125
FOR MORE CLASSES VISIT
www.acc205outlet.com
De(reciation
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
69/125
De(reciation
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
70/125
1' S(ecic i+entication !etho+' Boston alleries
uses the s(ecic i+entication !etho+ /or in&entory
&aluation' n&entory in/or!ation /or se&eral oil
(aintings /ollos'
.ainting
Cost
1N2 Beginning in&entory
Woo+s
I11000
)N1K .urchase
Sunset
2100
?N@ .urchase
Earth
"1200
12N1? .urchase
,oon
)000
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
71/125
Woo+s an+ ,oon ere sol+ +uring the year /or a
total o/ I"5000' Deter!ine the r!=s
a' cost o/ goo+s sol+'
*' gross (rot'
c' en+ing in&entory'
2' n&entory &aluation !etho+s4 *asic co!(utations'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
72/125
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
73/125
"' .er(etual in&entory syste!4 ournal entries' At the
*eginning o/ 20H" Beehler Co!(any i!(le!ente+ a
co!(uterie+ (er(etual in&entory syste!'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
74/125
Sol+ 50 *oar+s T I250
)N"4
.urchase 200 *oar+s T I1"5
5N1@4
Sol+ @5 *oar+s T I250
?N"4
.urchase 100 *oar+s T I1)5
1N"4
.urchase 100 *oar+s T I155
"N1@4
Sol+ "00 *oar+s T I250
1N"4
.urchase 100 *oar+s T I1)0
Wa&e Ri+ers uses a (er(etual in&entory syste!'
nstructions
a' Calculate cost o/ goo+s sol+ en+ing in&entory
an+ gross (rot un+er each o/ the /olloing
in&entory &aluation !etho+s4
$irst:in rst:out
#ast:in rst:out
Weighte+ a&erage
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
75/125
*' Which o/ the three !etho+s oul+ *e chosen i/
!anage!ent=s goal is to
718 (ro+uce an u(:to:+ate in&entory &aluation on the
*alance sheet9
728 a((ro-i!ate the (hysical ;o o/ a san+ an+
gra&el +ealer9
5' De(reciation !etho+s' Betsy Ross Enter(rises (urchase+ a +eli&ery &an /or I"0000 in January
20H@'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
76/125
*' De(reciation e-(ense /or 20H) assu!ing use o/
the units:o/:out(ut +e(reciation !etho+' Actual
ashing cycles in 20H) totale+ 500'
c' Accu!ulate+ +e(reciation on Dece!*er "1 20H5
assu!ing use o/ the +ou*le:+eclining:*alance
+e(reciation !etho+'
@' De(reciation co!(utations4 change in esti!ate'
Aussie !(orts (urchase+ a s(ecialie+ (iece o/
!achinery /or I50000 on January 1 20H"' At theti!e o/ acquisition the !achine as esti!ate+ to
ha&e a ser&ice li/e o/ 5 years 725000 o(erating
hours8 an+ a resi+ual &alue o/ I5000' During the 5
years o/ o(erations 720H" : 20H@8 the !achine as
use+ /or 5100 )00 "200 ?000 an+ 5K00
hours res(ecti&ely'
nstructions
a' Co!(ute +e(reciation /or 20H" : 20H@ *y using
the /olloing !etho+s4 straight line units o/ out(ut
an+ +ou*le:+eclining:*alance'
*' %n January 1 20H5 !anage!ent shortene+ the
re!aining ser&ice li/e o/ the !achine to 20 !onths'
Assu!ing use o/ the straight:line !etho+ co!(ute
the co!(any=s +e(reciation e-(ense /or 20H5'
c' Brie;y +escri*e hat you oul+ ha&e +one
+ierently in (art 7a8 i/ Aussie !(orts ha+ (ai+
I)@00 /or the !achinery rather than I50000 n
a++ition assu!e that the co!(any incurre+ I00 o/
/reight charges I1)00 /or !achine setu( an+
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
77/125
testing an+ I"00 /or insurance +uring the rst year
o/ use'
**********************************************************************************
ACC 205 Week - E#erise Assi!n$ent ,nentor (New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
1' S(ecic i+entication !etho+' Boston alleriesuses the s(ecic i+entication !etho+ /or in&entory
&aluation' n&entory in/or!ation /or se&eral oil
(aintings /ollos'
.ainting
Cost
1N2 Beginning in&entory
Woo+s
I11000
)N1K .urchase
Sunset
2100
http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
78/125
?N@ .urchase
Earth
"1200
12N1? .urchase
,oon
)000
Woo+s an+ ,oon ere sol+ +uring the year /or a
total o/ I"5000' Deter!ine the r!=s
a' cost o/ goo+s sol+'
*' gross (rot'
c' en+ing in&entory'
2' n&entory &aluation !etho+s4 *asic co!(utations'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
79/125
2N2@ ?50 I51
Sales +uring the rst quarter ere'
Date Sol+
1N1K 500
2N2 ?00
2N1" 500
2N2 100
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
80/125
oo+s a&aila*le /or sale
I
I
I
En+ing in&entory ,arch "1
Cost o/ goo+s sol+
"' .er(etual in&entory syste!4 ournal entries' At the
*eginning o/ 20H" Beehler Co!(any i!(le!ente+ a
co!(uterie+ (er(etual in&entory syste!'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
81/125
a' .re(are ournal entries /or the a*o&e (urchases
an+ sales'
*' Calculate the *alance in the r!=s n&entory
account'
)' n&entory &aluation !etho+s4 co!(utations an+
conce(ts' Wa&e Ri+ers Sur/*oar+ Co!(any *egan
*usiness on January 1 o/ the current year' Belo are
the transactions /or the year
4
1N"4
.urchase 100 *oar+s T I125
"N1@4
Sol+ 50 *oar+s T I250
)N"4
.urchase 200 *oar+s T I1"5
5N1@4
Sol+ @5 *oar+s T I250
?N"4
.urchase 100 *oar+s T I1)5
1N"4
.urchase 100 *oar+s T I155
"N1@4
Sol+ "00 *oar+s T I250
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
82/125
1N"4
.urchase 100 *oar+s T I1)0
Wa&e Ri+ers uses a (er(etual in&entory syste!'
nstructions
a' Calculate cost o/ goo+s sol+ en+ing in&entory
an+ gross (rot un+er each o/ the /olloing
in&entory &aluation !etho+s4
$irst:in rst:out
#ast:in rst:out
Weighte+ a&erage
*' Which o/ the three !etho+s oul+ *e chosen i/!anage!ent=s goal is to
718 (ro+uce an u(:to:+ate in&entory &aluation on the
*alance sheet9
728 a((ro-i!ate the (hysical ;o o/ a san+ an+
gra&el +ealer9
5' De(reciation !etho+s' Betsy Ross Enter(rises
(urchase+ a +eli&ery &an /or I"0000 in January
20H@'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
83/125
annually' Co!(ute +e(reciation e-(ense /or 20H *y
using each o/ the /olloing !etho+s4
a' Lnits:o/:out(ut assu!ing 1@000 !iles ere
+ri&en +uring 20H
*' Straight:line
c' Dou*le:+eclining:*alance
?' De(reciation co!(utations' Al(ha Al(haAl(ha a
college /raternity (urchase+ a ne hea&y:+uty
ashing !achine on January 1 20H"'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
84/125
years o/ o(erations 720H" : 20H@8 the !achine as
use+ /or 5100 )00 "200 ?000 an+ 5K00
hours res(ecti&ely'
nstructions
a' Co!(ute +e(reciation /or 20H" : 20H@ *y using
the /olloing !etho+s4 straight line units o/ out(ut
an+ +ou*le:+eclining:*alance'
*' %n January 1 20H5 !anage!ent shortene+ the
re!aining ser&ice li/e o/ the !achine to 20 !onths'
Assu!ing use o/ the straight:line !etho+ co!(ute
the co!(any=s +e(reciation e-(ense /or 20H5'
c' Brie;y +escri*e hat you oul+ ha&e +one
+ierently in (art 7a8 i/ Aussie !(orts ha+ (ai+
I)@00 /or the !achinery rather than I50000 n
a++ition assu!e that the co!(any incurre+ I00 o/
/reight charges I1)00 /or !achine setu( an+testing an+ I"00 /or insurance +uring the rst year
o/ use'
**********************************************************************************
ACC 205 Week - &ournal ,nentor &ournal (Ash)
FOR MORE CLASSES VISIT
www.acc205outlet.com
http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
85/125
n&entory Journal
Re;ect /or a !o!ent on the #$% 7#ast in $irst %ut8
an+ $$% 7$irst in $irst %ut8 in&entory !etho+s' / you
ere starting a s!all !anu/acturing co!(any hat
in&entory !etho+ +o you *elie&e oul+ (ro&i+e the
!ost accurate nancial state!ents9 Why +o you*elie&e this is the case9
Care/ully re&ie the ra+ing Ru*ric /or the criteria
that ill *e use+ to e&aluate your ournal entry'
**********************************************************************************
ACC 205 Week - &ournal ,nentor &ournal (New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
n&entory Journal
http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
86/125
Re;ect /or a !o!ent on the #$% 7#ast in $irst %ut8an+ $$% 7$irst in $irst %ut8 in&entory !etho+s' / you
ere starting a s!all !anu/acturing co!(any hat
in&entory !etho+ +o you *elie&e oul+ (ro&i+e the
!ost accurate nancial state!ents9 Why +o you
*elie&e this is the case9
Care/ully re&ie the ra+ing Ru*ric /or the criteria
that ill *e use+ to e&aluate your ournal entry'
**********************************************************************************
ACC 205 Week DQ 1 Current .iailit (Ash)
FOR MORE CLASSES VISIT
www.acc205outlet.com
Current #ia*ility
What is a current lia*ility9 $ro! a user o/ nancial
state!ents (ers(ecti&e hy +o you *elie&e current
lia*ilities are se(arate+ /ro! long:ter! lia*ilities9
http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
87/125
Base+ on your current e-(erience an+ any a++itional
research you !ay ha&e +one (ro&i+e to e-a!(les
o/ situations here *usinesses collect !onies /ro!
custo!ers an+ e!(loyees an+ re(orts thesea!ounts as a current lia*ility'
ui+e+ Res(onse4
Re&ie se&eral o/ your (eers= (ostings an+ i+enti/y
the core co!(onents o/ a current lia*ility' Res(on+
to at least to o/ your (eers an+ (ro&i+e
reco!!en+ations to e-ten+ their thinking'
Challenge your (eers *y asking a question that !ay
cause the! to ree&aluate i/ their e-a!(le is a
current lia*ility'
**********************************************************************************
ACC 205 Week DQ 1 Current .iailit (New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
Current #ia*ility
What is a current lia*ility9 $ro! a user o/ nancial
state!ents (ers(ecti&e hy +o you *elie&e current
http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
88/125
lia*ilities are se(arate+ /ro! long:ter! lia*ilities9
Base+ on your current e-(erience an+ any a++itional
research you !ay ha&e +one (ro&i+e to e-a!(les
o/ situations here *usinesses collect !onies /ro!custo!ers an+ e!(loyees an+ re(orts these
a!ounts as a current lia*ility'
ui+e+ Res(onse4
Re&ie se&eral o/ your (eers= (ostings an+ i+enti/y
the core co!(onents o/ a current lia*ility' Res(on+
to at least to o/ your (eers an+ (ro&i+e
reco!!en+ations to e-ten+ their thinking'
Challenge your (eers *y asking a question that !ay
cause the! to ree&aluate i/ their e-a!(le is a
current lia*ility'
**********************************************************************************
ACC 205 Week &ournal Future /li!ations &ournal (Ash)
FOR MORE CLASSES VISIT
www.acc205outlet.com
$uture %*ligations Journal
http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
89/125
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
90/125
any a++itional research you !ay ha&e +one +iscuss
the a+&antages an+ +isa+&antages o/ the /olloing4
sole (ro(rietorshi( (artnershi( an+ cor(oration'
Base+ on these a+&antages an+ +isa+&antages (ro&i+e a clear reco!!en+ation to your client'
#et at least to o/ your (eers (osts kno i/ an
alternati&e choice o/ entity oul+ *e (ossi*le' What
oul+ *e the *enets o/ this ne entity choice9
Woul+ there *e any +isa+&antages associate+ ith
this ne entity selection'
ui+e+ Res(onse4
#et at least to o/ your (eers (osts kno i/ an
alternati&e choice o/ entity oul+ *e (ossi*le9'
What oul+ *e the *enets o/ this ne entitychoice9 Woul+ there *e any +isa+&antages
associate+ ith this ne entity selection'
**********************************************************************************
ACC 205 Week E#erise Assi!n$ent .iailit (Ash)
FOR MORE CLASSES VISIT
www.acc205outlet.com
http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
91/125
Week $our E-ercise Assign!ent #ia*ility
1' .artner in&est!entsP ournal entries'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
92/125
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
93/125
2N10
Esta*lishe+ a arranty lia*ility /or the H3:0 a ne
(ro+uct' Sales are e-(ecte+ to total 1000 units
+uring the !onth' .ast e-(erience ith si!ilar
(ro+ucts in+icates that 2 o/ the units ill require
re(air ith arranty costs a&eraging I2@ (er unit'
12N22
.urchase+ I1?000 o/ !erchan+ise on account /ro!
%regon Co!(any ter!s 2N10 nN"0'
12N2?
Borroe+ I5000 /ro! $irst City BankP signe+ a note
(aya*le +ue in ?0 +ays'
12N"1
Re(aire+ si- H3:0s +uring the !onth at a total cost
o/ I1?2'
12N"1
Accrue+ " +ays o/ salaries at a total cost o/ I1)00'
nstructions
a' .re(are ournal entries to recor+ the transactions'
*' .re(are a+usting entries on %cto*er "1 to recor+
accrue+ interest'
c' .re(are the Current #ia*ility section o/ Re+ Bank=s
*alance sheet as o/ %cto*er "1' Assu!e that the
Accounts .aya*le account totals I20"?00 on this
+ate'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
94/125
)' ssuance o/ stock4 organiation costs' Sno*oun+
Cor(oration as incor(orate+ in July'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
95/125
ssue+ a I)0000 note to 6arris ,otors /or the
(urchase o/ a I)0000 +eli&ery truck'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
96/125
**********************************************************************************
ACC 205 Week E#erise Assi!n$ent .iailit (New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
Week $our E-ercise Assign!ent #ia*ility
1' .artner in&est!entsP ournal entries'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
97/125
U Social Security ta-es4 ? on the rst I55000
earne+
U ,e+icare ta-es4 1'5 on the rst I1"0000 earne+
U $e+eral inco!e ta-es ithhel+ /ro! ages4 I@500
U State inco!e ta-es4 5 o/ gross earnings
U nsurance ithhol+ings4 1 o/ gross earnings
U State une!(loy!ent ta-es4 5') on the rst
I@000 earne+
U $e+eral une!(loy!ent ta-es4 0' on the rst
I@000 earne+
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
98/125
U ,atching ,e+icare ta-es
U State une!(loy!ent ta-es
U $e+eral une!(loy!ent ta-es
"' Current lia*ilities4 entries an+ +isclosure' A
re&ie o/ selecte+ nancial acti&ities o/ Misconti=s
+uring 20HH +isclose+ the /olloing4
12N1
Borroe+ I20000 /ro! the $irst City Bank *y
signing a ": !onth 15 note (aya*le' nterest an+
(rinci(al are +ue at !aturity'
2N10
Esta*lishe+ a arranty lia*ility /or the H3:0 a ne
(ro+uct' Sales are e-(ecte+ to total 1000 units
+uring the !onth' .ast e-(erience ith si!ilar
(ro+ucts in+icates that 2 o/ the units ill require
re(air ith arranty costs a&eraging I2@ (er unit'
12N22
.urchase+ I1?000 o/ !erchan+ise on account /ro!
%regon Co!(any ter!s 2N10 nN"0'
12N2?Borroe+ I5000 /ro! $irst City BankP signe+ a note
(aya*le +ue in ?0 +ays'
12N"1
Re(aire+ si- H3:0s +uring the !onth at a total cost
o/ I1?2'
12N"1
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
99/125
Accrue+ " +ays o/ salaries at a total cost o/ I1)00'
nstructions
a' .re(are ournal entries to recor+ the transactions'
*' .re(are a+usting entries on %cto*er "1 to recor+
accrue+ interest'
c' .re(are the Current #ia*ility section o/ Re+ Bank=s
*alance sheet as o/ %cto*er "1' Assu!e that the
Accounts .aya*le account totals I20"?00 on this
+ate'
)' ssuance o/ stock4 organiation costs' Sno*oun+
Cor(oration as incor(orate+ in July'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
100/125
*' .re(are ournal entries /or the cash +i&i+en+
+eclaration an+ (ay!ent'
5' Gotes (aya*le' Re+ Bank Enter(rises as in&ol&e+
in the /olloing transactions +uring the scal year
en+ing %cto*er "14
N24
Borroe+ I@5000 /ro! the Bank o/ ings&ille *y
signing a 120:+ay note'
N204
ssue+ a I)0000 note to 6arris ,otors /or the
(urchase o/ a I)0000 +eli&ery truck'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
101/125
11N"04 .ai+ note to Bank o/ ing&ille
nstructions
a' .re(are ournal entries to recor+ the transactions'
*' .re(are a+usting entries on %cto*er "1 to recor+
accrue+ interest'
c' .re(are the Current #ia*ility section o/ Re+ Bank=s
*alance sheet as o/ %cto*er "1' Assu!e that the
Accounts .aya*le account totals I20"?00 on this
+ate'
**********************************************************************************
ACC 205 Week &ournal Future /li!ations &ournal (Ash)
FOR MORE CLASSES VISIT
www.acc205outlet.com
$uture %*ligations Journal
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
102/125
analysis tell you a*out your /uture o*ligations9
What +i+ you learn /ro! this e-(erience9
Care/ully re&ie the ra+ing Ru*ric /or the criteria
that ill *e use+ to e&aluate your ournal entry'
**********************************************************************************
ACC 205 Week &ournal Future /li!ations &ournal (New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
$uture %*ligations Journal
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
103/125
Care/ully re&ie the ra+ing Ru*ric /or the criteriathat ill *e use+ to e&aluate your ournal entry'
**********************************************************************************
ACC 205 Week 5 DQ 1 (Ash)
FOR MORE CLASSES VISIT
www.acc205outlet.com
ACC 205 Week 5 DQ 1
**********************************************************************************
ACC 205 Week 5 DQ 1 (New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
http://www.acc205outlet.com/http://www.acc205outlet.com/http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
104/125
ACC 205 Week 5 DQ 1
**********************************************************************************
ACC 205 Week 5 DQ 2 (Ash)
FOR MORE CLASSES VISIT
www.acc205outlet.com
ACC 205 Week 5 DQ 2
**********************************************************************************
ACC 205 Week 5 DQ 2 (New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
http://www.acc205outlet.com/http://www.acc205outlet.com/http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
105/125
ACC 205 Week 5 DQ 2
**********************************************************************************
ACC 205 Week 5 E#erise Assi!n$ent Finanial atios (Ash)
FOR MORE CLASSES VISIT
www.acc205outlet.com
Week $i&e E-ercise Assign!ent
$inancial Ratios
1' #iqui+ity ratios' E+ison Stagg an+
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
106/125
I)000
I2500
I1000
Short:ter! in&est!ents
"000
2500
2000
Accounts recei&a*le
2000
2500
"000
n&entory
1000
2500
)000
.re(ai+ e-(enses
00
00
00
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
107/125
Accounts (aya*le
200
200
200
Gotes (aya*le4 short:ter!
"100
"100
"100
Accrue+ (aya*les
"00"00
"00
#ong:ter! lia*ilities
"00"00
"00
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
108/125
Co!(ute the current an+ quick ratios /or each o/ the
three co!(anies' 7Roun+ calculations to to +eci!al
(laces'8 Which r! is the !ost liqui+9 Why9
Su((ose
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
109/125
Cost o/ goo+s sol+
))0000
"50000
Cash Dec' "1
125000
110000
Accounts recei&a*le Dec' "1
10000
1)0000
n&entory Dec' "1@0000
50000
Accounts (aya*le Dec' "1
11500010000
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
110/125
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
111/125
25000
Get inco!e
1"0000
A&erage assets
1100000
A&erage co!!on stockhol+ersF equity
)00000
Co!(ute the (rot !argin on sales an+ the rates o/
return on assets an+ co!!on stockhol+ersF equity
roun+ing calculations to to +eci!al (laces'
Does the r! ha&e (ositi&e or negati&e nancial
le&erage9 Brie;y e-(lain'
)' $inancial state!ent construction &ia ratios'
nco!(lete nancial state!ents o/ #ock Bo- nc'
are (resente+ *elo'
#%C B%H GC'
nco!e State!ent
$or the 3ear En+e+ Dece!*er "1 1KH"
Sales
I 9
Cost o/ goo+s sol+
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
112/125
9
ross (rot
I15000000
%(erating e-(enses V interest
9
nco!e *e/ore ta-
I 9
nco!e ta-es )0
9
Get inco!e
I 9
#%C B%H GC'
Balance Sheet
Dece!*er "1 1KH"
Assets
Cash
Accounts recei&a*le
n&entory
.ro(erty (lant V' equi(!ent
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
113/125
9
9
000000
I2)000000
#ia*ilities V Stockhol+ersF Equity
Accounts (aya*le
Gotes (aya*le 7short:ter!8
Bon+s (aya*le
Co!!on stock
Retaine+ earnings
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
114/125
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
115/125
E+ison
Stagg
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
116/125
)000
.re(ai+ e-(enses
00
00
00
Accounts (aya*le
200
200
200
Gotes (aya*le4 short:ter!"100
"100
"100
Accrue+ (aya*les"00
"00
"00
#ong:ter! lia*ilities
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
117/125
"00
"00
"00
Co!(ute the current an+ quick ratios /or each o/ the
three co!(anies' 7Roun+ calculations to to +eci!al (laces'8 Which r! is the !ost liqui+9 Why9
Su((ose
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
118/125
1KH5
1KH)
Get cre+it sales
I"2000
I@?0000
Cost o/ goo+s sol+
))0000
"50000
Cash Dec' "1
125000110000
Accounts recei&a*le Dec' "1
10000
1)0000
n&entory Dec' "1
@0000
50000
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
119/125
Accounts (aya*le Dec' "1
115000
10000
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
120/125
Get sales
I1500000
nterest e-(ense
120000
nco!e ta- e-(ense
0000
.re/erre+ +i&i+en+s
25000
Get inco!e
1"0000
A&erage assets
1100000
A&erage co!!on stockhol+ersF equity
)00000
Co!(ute the (rot !argin on sales an+ the rates o/
return on assets an+ co!!on stockhol+ersF equityroun+ing calculations to to +eci!al (laces'
Does the r! ha&e (ositi&e or negati&e nancial
le&erage9 Brie;y e-(lain'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
121/125
)' $inancial state!ent construction &ia ratios'
nco!(lete nancial state!ents o/ #ock Bo- nc'
are (resente+ *elo'
#%C B%H GC'
nco!e State!ent
$or the 3ear En+e+ Dece!*er "1 1KH"
Sales
I 9
Cost o/ goo+s sol+
9
ross (rot
I15000000
%(erating e-(enses V interest
9
nco!e *e/ore ta-
I 9
nco!e ta-es )09
Get inco!e
I 9
#%C B%H GC'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
122/125
Balance Sheet
Dece!*er "1 1KH"
Assets
Cash
Accounts recei&a*le
n&entory
.ro(erty (lant V' equi(!ent
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
123/125
?00000 )?00000
2000000
9
I2)000000
$urther in/or!ation4
Cost o/ goo+s sol+ is ?0 o/ sales' All sales are on
account'
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
124/125
www.acc205outlet.com
,ost !(ortant Ratio Journal
Re;ect /or a !o!ent on the ratios 7orking ca(ital
current ratio quick ratio +e*t to asset +e*t to
equity ti!es interest earne+ gross !argin an+ net
!argin8 (resente+ this eek' / you ereconsi+ering in&esting in a co!(any hat ratio oul+
*e the !ost i!(ortant to you9 $or!ulate an+
argu!ent to +e/en+ your (osition'
Care/ully re&ie the ra+ing Ru*ric /or the criteria
that ill *e use+ to e&aluate your ournal entry'
**********************************************************************************
ACC 205 Week 5 &ournal 3ost ,$portant atio &ournal(New)
FOR MORE CLASSES VISIT
www.acc205outlet.com
http://www.acc205outlet.com/http://www.acc205outlet.com/http://www.acc205outlet.com/http://www.acc205outlet.com/
8/17/2019 ACC 205 OUTLET EDUCATION EXPERT / acc205outlet.com
125/125
,ost !(ortant Ratio Journal
Re;ect /or a !o!ent on the ratios 7orking ca(ital
current ratio quick ratio +e*t to asset +e*t to
equity ti!es interest earne+ gross !argin an+ net
!argin8 (resente+ this eek' / you ere
consi+ering in&esting in a co!(any hat ratio oul+
*e the !ost i!(ortant to you9 $or!ulate an+
argu!ent to +e/en+ your (osition'
Care/ully re&ie the ra+ing Ru*ric /or the criteria
that ill *e use+ to e&aluate your ournal entry'
**********************************************************************************