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1. ACC 205 new CourseTutorial For more course tutorials visit www.tutorialoutlet.com

2. ACC 205 new CourseTutorial ACC 205 Week 1 DQ 2 Accounts (New) For more course tutorials visit www.tutorialoutlet.com What does the term “account” mean?  What are the different classifications of accounts?  How do the rules for Debits and Credits impact accounts?  Please provide an example of how debits and credits impact accounts.Guided Response:  Analyze several of your peers’ postings.  Let at least two of your peers know if this knowledge could be used in their everyday lives.  Is so, how?  If not, why not? )

3. ACC 205 new CourseTutorial ACC 205 Week 1 Exercise Assignment Basic Accounting Equations (New) For more course tutorials visit www.tutorialoutlet.com 1) Basic concepts. Jean's Marine Supply specializes in the sale of boating equipment and acces­sories. Identify the items that follow as an asset (A), liability (L), revenue (R), or expense (E) from the firm's viewpoint.  The inventory of boating supplies owned by the company.  Monthly rental charges paid for store space. (L)  A loan owed to Citizens Bank. (L)  New computer equipment purchased to handle daily record keeping. (A) Daily sales made to customers. (R)  Amounts due from customers. (R  Land owned by the company to be used as a future store site. (A)  Weekly salaries paid to salespeople. (E)

4. ACC 205 new CourseTutorial ACC 205 Week 1 Journal Balance Sheet Journal (New) For more course tutorials visit www.tutorialoutlet.com The Balance Sheet is a financial snap shot of a company at  a particular point in time.  The Balance Sheet lists the assets, liabilities, and equity of the company.  Reflect on your personal financial situation, can you apply the concepts of the Balance Sheet?  What did you learn from this reflection? Carefully review the Grading Rubric for the criteria that will be used to evaluate your journal entry.

5. ACC 205 new CourseTutorial ACC 205 Week 2 DQ 1 Accounting Cycle (New) For more course tutorials visit www.tutorialoutlet.com Financial statements are a product of the accounting cycle.  Think about two different companies, one a manufacturing company, the other a retail company.  Why would different companies have different accounting cycles?  Would you expect the steps of the accounting cycle to be the same for each company?  Why or why not? Guided Response:Review several of your peers’ postings and identify what steps of the accounting cycle that you feel are the most critical.  Respond to at least two of your peers and provide recommendations to extend their thinking.  Challenge your peers by asking a question that may cause them to reevaluate their position on the accounting cycle.

6. ACC 205 new CourseTutorial ACC 205 Week 2 DQ 2 Bank Reconciliation (New) For more course tutorials visit www.tutorialoutlet.com What is the purpose of a bank reconciliation?  What are the reasons there are differences between the cash reported in the accounting records and the cash balance in the bank statements?  Analyze several of your peers’ postings.  Let at least two of your peers know what happens to the discrepancies between the book balance and the bank balance.  Could these differences just be written off. Guided Response:A bank reconciliation reconciles the bank account balance per the books to the actual bank balance.  Outstanding checks, deposits in transit, and bank errors are reasons there are differences between the cash reported in the accounting records and the cash balance in the bank statements.  

7. ACC 205 new CourseTutorial ACC 205 Week 2 Exercise Assignment Revenue and Expenses (New) For more course tutorials visit www.tutorialoutlet.com 1. Recognition of concepts. Ron Carroll operates a small company that books entertainers for theaters, parties, conventions, and so forth. The company’s fiscal year ends on June 30. Consider the following items and classify each as either (1) prepaid expense, (2) unearned revenue, (3) accrued expense, (4) accrued revenue, or (5) none of the foregoing.a. Amounts paid on June 30 for a 1-year insurance policyb. Professional fees earned but not billed as of June 30c. Repairs to the firm’s copy machine, incurred and paid in Juned. An advance payment from a client for a performance next month at a convention 

8. ACC 205 new CourseTutorial ACC 205 Week 2 Journal Income Statement Journal (New) For more course tutorials visit www.tutorialoutlet.com The Income Statement measures the income and expenses of a company over a specific period of time.  Reflecting on your personal financial statement for the past month, can you apply the principles of the Income Statement?  What did you learn from this experience? Carefully review the Grading Rubric for the criteria that will be used to evaluate your journal entry.

9. ACC 205 new CourseTutorial ACC 205 Week 3 DQ 1 LIFO vs. FIFO (New) For more course tutorials visit www.tutorialoutlet.com ACC 205 Week 3 DQ 1 LIFO vs. FIFO (New) The controller of Sagehen Enterprises believes that the company should switch from the LIFO method to the FIFO method.  The controller’s bonus is based on the next income.  It is the controller’s belief that the switch in inventory methods would increase the net income of the company.  What are the differences between the LIFO and FIFO methods?   Guided Response:Analyze several of your peers’ postings.  Let at least two of your peers know if a company is better off it switches from a LIFO method to a FIFO method?  Why or why not

10. ACC 205 new CourseTutorial ACC 205 Week 3 DQ 2 Depreciation (New) For more course tutorials visit www.tutorialoutlet.com There is a variety of depreciation methods used to allocate the cost of an asset to all of the accounting periods benefited by the use of the asset.  Your client has just purchased a piece of equipment for $100,000.  Explain the concept of depreciation.  Which of the following depreciation methods would you recommend: straight-line depreciation, double declining balance method, or an alternative method?   Guided Response: Let at least two of your peers know if a company would use an accelerated depreciation method for their financial statements or their tax returns.  Why do you believe this would be the case?

11. ACC 205 new CourseTutorial ACC 205 Week 3 Exercise Assignment Inventory (New) For more course tutorials visit www.tutorialoutlet.com There is a variety of depreciation methods used to allocate the cost of an asset to all of the accounting periods benefited by the use of the asset.  Your client has just purchased a piece of equipment for $100,000.  Explain the concept of depreciation.  Which of the following depreciation methods would you recommend: straight-line depreciation, double declining balance method, or an alternative method?   Guided Response: Let at least two of your peers know if a company would use an accelerated depreciation method for their financial statements or their tax returns.  Why do you believe this would be the case?

12. ACC 205 new CourseTutorial ACC 205 Week 3 Journal Inventory Journal (New) For more course tutorials visit www.tutorialoutlet.com Reflect for a moment on the LIFO (Last in First Out) and FIFO (First in First Out) inventory methods. If you were starting a small manufacturing company, what inventory method do you believe would provide the most accurate financial statements? Why do you believe this is the case? Carefully review the Grading Rubric for the criteria that will be used to evaluate your journal entry.

13. ACC 205 new CourseTutorial ACC 205 Week 4 DQ 1 Current Liability (New) For more course tutorials visit www.tutorialoutlet.com What is a current liability?  From a user of financial statements perspective why do you believe current liabilities are separated from long-term liabilities?  Based on your current experience and any additional research you may have done provide two examples of situations where businesses collect monies from customers and employees and reports these amounts as a current liability.  Guided Response:Review several of your peers’ postings and identify the core components of a current liability.  Respond to at least two of your peers and provide recommendations to extend their thinking.  Challenge your peers by asking a question that may cause them to reevaluate if their example is a current liability. .

14. ACC 205 new CourseTutorial ACC 205 Week 4 Exercise Assignment Liability (New) For more course tutorials visit www.tutorialoutlet.com ACC 205 Week 4 Exercise Assignment Liability (New) 1.  Partner investments; journal entries. The LP partnership was formed on January 1, 19X7, by investments from Bill Levy and Marv Parcells. Levy contributed $30,000 cash and $80,000 of land. Parcells contributed cash of $50,000 and equipment with a value of $20,000. Prepare the journal entries needed to record the investments of Levy and Parcells 2. Payroll accounting. Assume that the following tax rates and payroll information pertain to Brookhaven Publishing: ·  Social Security taxes: 6% on the first $55,000 earned ·  Medicare taxes: 1.5% on the first $130,000 earned ·  Federal income taxes withheld from wages: $7,500 ·  State income taxes: 5% of gross earnings

15. ACC 205 new CourseTutorial ACC 205 Week 4 Journal Future Obligations Journal (New) For more course tutorials visit www.tutorialoutlet.com ACC 205 Week 4 Exercise Assignment Liability (New) 1.  Partner investments; journal entries. The LP partnership was formed on January 1, 19X7, by investments from Bill Levy and Marv Parcells. Levy contributed $30,000 cash and $80,000 of land. Parcells contributed cash of $50,000 and equipment with a value of $20,000. Prepare the journal entries needed to record the investments of Levy and Parcells 2. Payroll accounting. Assume that the following tax rates and payroll information pertain to Brookhaven Publishing: ·  Social Security taxes: 6% on the first $55,000 earned ·  Medicare taxes: 1.5% on the first $130,000 earned ·  Federal income taxes withheld from wages: $7,500 ·  State income taxes: 5% of gross earnings

16. ACC 205 new CourseTutorial ACC 205 Week 5 DQ 1 (New) For more course tutorials visit www.tutorialoutlet.com ACC 205 Week 5 DQ 1  

17. ACC 205 new CourseTutorial ACC 205 Week 5 Exercise Assignment Financial Ratios (New) For more course tutorials visit www.tutorialoutlet.com 1.      Liquidity ratios. Edison, Stagg, and Thornton have the following financial information at the close of business on July 10:

18. ACC 205 new CourseTutorial ACC 205 Week 1 DQ 1 Accounting Equation (New) For more course tutorials visit www.tutorialoutlet.com As you have learned in this week’s readings the Accounting Equation is + Owners’ Equity.  Is the accounting equation true in all instances?  Provide sample transactions from your own experiences to demonstrate the validity of the Accounting Equation.   Guided Response:Review several of your peers’ postings and identify some core components that you feel should be included in every transaction.  Respond to at least two of your peers and provide recommendations to extend their thinking.  Challenge your peers by asking a question that may cause them to reevaluate or add components to their transactions.

19. ACC 205 new CourseTutorial ACC 205 Week 5 Exercise Assignment Financial Ratios (New) For more course tutorials visit www.tutorialoutlet.com 1.      Liquidity ratios. Edison, Stagg, and Thornton have the following financial information at the close of business on July 10:

20. ACC 205 new CourseTutorial ACC 205 Week 5 Final Paper (New) For more course tutorials visit www.tutorialoutlet.com Final Paper  Focus of the Final Paper Write a five to seven page financial statement analysis of a public company, and formatted according to APA style as outlined in the Ashford Writing Center.   In this analysis you will discuss the financial health of this company with the ultimate goal of making a recommendation to other investors.   Your paper should consist of the following sections: introduction, company overview, horizontal analysis, ratio analysis, final recommendation, and conclusions.   Here is a breakdown of the sections within the body of the assignment:  

21. ACC 205 new CourseTutorial ACC 205 Week 5 Final Paper (New) For more course tutorials visit www.tutorialoutlet.com Final Paper  Focus of the Final Paper Write a five to seven page financial statement analysis of a public company, and formatted according to APA style as outlined in the Ashford Writing Center.   In this analysis you will discuss the financial health of this company with the ultimate goal of making a recommendation to other investors.   Your paper should consist of the following sections: introduction, company overview, horizontal analysis, ratio analysis, final recommendation, and conclusions.   Here is a breakdown of the sections within the body of the assignment:  

22. ACC 205 new CourseTutorial