DEVRY ACCT 212 ALL DISCUSSIONS QUESTIONS – NEW 2015

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Discussions

week 1

FINANCIAL STATEMENTS (GRADED)

I suspect that most of us can view and appreciate most sports such as baseball,

football, and basketball. What if you were to view a Cricket World Cup game? If you

didn’t know the rules you probably would not have much fun. The same happens in

business if you don’t understand its language – Accounting. What rules impact a

business’ Accounting Information System? What types of compliance is required?

diss 2

COURSE PROJECT (GRADED)

In this graded discussion, we will be examining the operation of the Accounting

Information System (AIS) with the use of problems and exercises from your textbook.

The goal is to cover all of the requirements to ensure an opportunity for your successful

completion of Course Project. Let’s start with Exercise 1-17A. Read about CoffeeShop

Doughnuts and select one of the four requirements to answer

week 2

ACCOUNTING SYSTEM (GRADED)

Last week, we discussed “The Language of Business” and why the accounting

information system is important in business. This week, we are going to look at the

mechanics of how it all works. It might be a bit easier if we started with an example

which would be the Genie Car Wash, Inc. in Chapter 2 of your textbook. Pick a

transaction from Genie and let us know how it impacts the accounting equation. Make

sure to identify the two accounts impacted. Why is it important to record your selected

transaction?

COURSE PROJECT (GRADED)

In this graded discussion, we will be examining the operation of the Accounting

Information System (AIS) with the use of problems and exercises from your textbook.

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The goal is to cover all of the requirements to ensure an opportunity for your successful

completion of the Course Project. As you complete the requirements of Week 2, you

should review the Course Project tab in Course Home, as you could start work on the

Project. The template for the Course Project is located in Doc Sharing.

Let’s start with Exercise 2-16A. Select one of the nine financial transactions of the

medical practice of Bob Morin, P.C. Develop a journal entry with date and explanation.

Post it in this discussion and then conduct peer reviews of your classmates. The next

requirement is to select one of the five questions (a-e) and post an answer. Do show

your computations.

week 3

COURSE PROJECT (GRADED)

Go to Course Home and review the Course Project tab. Then download the Course

Project template from Doc Sharing. In this graded discussion, we will be examining the

operation of the Accounting Information System (AIS) with the use of problems and

exercises from your textbook. The goal is to cover all of the requirements to ensure an

opportunity for your successful completion of the Course Project.

Let’s start with a review of the first three requirements of the Course Project. Explain

why it is important to analyze each financial transaction of a business and to report it in

the Accounting Information System. Suggestion: Revisit and review the Lecture tab in

Weeks 1 and 2.

week 4

INVENTORY MANAGEMENT (GRADED)

A review of the balance sheet of a retailer, such as Wal-Mart, will disclose that in current

assets the majority investment is in inventory. With manufacturers, such as Ford, the

inventory is spread between three different categories. Let’s start our discussion with

some basic inventory questions. How is inventory valued? Which inventory valuation

method is most popular and why? What impact on the financial reports can the selection

of an inventory valuation method have?

COURSE PROJECT (GRADED)

Go to Course Home and review the Course Project tab. Continue to use the Course

Project template from Doc Sharing. In this graded discussion, we will be examining the

operation of the Accounting Information System (AIS) with the use of problems and

exercises from your textbook. The goal is to cover all of the requirements to ensure an

opportunity for your successful completion of the Course Project.

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Let’s start with Exercise 3-22A and practice developing journal entries to make

adjustments. Select one of the six transactions and develop the adjusting journal entry.

If you are using an example found in the textbook do mention the page number.

week 5

 

NON-CURRENT ASSETS AND RELATED LIABILITIES (GRADED)

In the spotlight about FedEx Corporation, you get a feel for the amount of investment in

assets and the resulting liabilities that are required to operate a competitive corporation.

Even small businesses require plant, property, and equipment to compete and normally

rely on some form of debt to finance themselves. Let’s start up a company that sells

auto parts, like Napa or Auto Zone. What assets would we require? How might we

finance them?

diss 2

COURSE PROJECT (GRADED)

Go to Course Home and review the Course Project tab. Continue to use the Course

Project template from Doc Sharing. In this graded discussion, we will be examining the

operation of the Accounting Information System (AIS) with the use of problems and

exercises from your textbook. The goal is to cover all of the requirements to ensure an

opportunity for your successful completion of the Course Project.

 

Let’s start with Exercise 3-30A. For the Anderson Production Company, select one

adjusting and one closing entry requirement. Develop the journal entry for review by

your peers. Make sure to reference any page numbers of examples you are using. Hint:

Revisit the Week 2 Lecture.

week 6

STOCKHOLDERS’ EQUITY (GRADED)

When forming a company, the options are sole proprietor, partnership, and corporation.

Most choose corporation. Why is the corporate form seen to be best? What rights do

the stockholders have?

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STATEMENT OF CASH FLOWS (GRADED)

Let’s start with gaining an understanding of the Statement of Cash Flows. From

Exercise 12-17A, select one of the journal entries and explain how the accounts in the

journal entry impact the statement of cash flows.

 

week 7

ANALYSIS EXERCISES (GRADED)

Let’s start with Exercise 13-19A by preparing a common-size income statement for the

McMahon Music Co. Do this in Excel. Do not post your spreadsheet in the discussion,

but rather, place a screenshot of it. How did you format the cells? Any suggestions on

where to obtain assistance with building the spreadsheet?

This section lists options that can be used to view responses.

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