ACC 290 (New) Education Redefined/newtonhelp.com

1. ACC 290 (New) Education Redefined/newtonhelp.com

2. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Final Exam Guide (New, 2020, 100% Score) For more course tutorials visit www.newtonhelp.com Question 1 The best definition of assets is the collections of resources belonging to the company and the claims on these resources. cash owned by the company. owners’ investment in the business.

3. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 1 Apply Connect Assignment (100% Correct) (With Excel File) For more course tutorials visit www.newtonhelp.com 1 On July 1, Tommy Wrigley established Wrigley Home Appraisal Services, a firm that provides expert residential appraisals and represents clients in home appraisal hearings. TRANSACTIONS The owner invested $100,000 in cash to begin the business.

4. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 1 Apply: Connect® Exercise For more course tutorials visit www.newtonhelp.com ACC 290 Week 1 Apply: Connect® Exercise Review the Knowledge Check in preparation for this assignment. Complete the Week 1 Exercise in Connect®.

5. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 1 Assignment Preparing an Income Statement Retained Earnings Statement and Balance Sheet For more course tutorials visit www.newtonhelp.com Purpose of Assignment  The purpose of this assignment is to help students become familiar with the presentation of the income statement and the retained earnings statement, including how parts of the financial statement is evaluated to determine the operational success of the business. 

6. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 1 Discussion Question 1 For more course tutorials visit www.newtonhelp.com ACC 290 Week One - DQ #1 What are the four basic financial statements? What is the primary purpose of each of the four basic financial statements? In your opinion, which financial statement is the most important? Explain why. How would the financial statements be useful to managers and employees? How would the financial statements be useful to investors and creditors?

7. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 1 Discussion Question 2 For more course tutorials visit www.newtonhelp.com What are debits and credits? How are debits and credits used to record business transactions? Why do accountants debit asset accounts to increase them but credit liability accounts to increase them? Why do accountants debit expenses to increase them but credit revenues to increase them?

8. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 1 Individual Assignment Financial Statements Paper For more course tutorials visit www.newtonhelp.com 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 financial statements. 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.

9. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 1 Practice Connect Practice Assignment For more course tutorials visit www.newtonhelp.com ACC 290 Week 1 Practice Connect Practice Assignment Complete the Week 1 Practice in Connect. Note: You have unlimited attempts available to complete practice assignments

10. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 1 Practice: Connect® Knowledge Check For more course tutorials visit www.newtonhelp.com ACC 290 Week 1 Practice: Connect® Knowledge Check Complete the Week 1 Knowledge Check in Connect®. Note: You have unlimited attempts available to complete this practice assignment. The highest scored attempt will be recorded.

11. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 1 Practice Quiz(New) For more course tutorials visit www.newtonhelp.com 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.

12. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 1 Vocabulary Activity (New) For more course tutorials visit www.newtonhelp.com WileyPLUS Assignment: Week 1 Vocabulary Activity Resource: WileyPLUS Complete the following Week 1 Assignment in WileyPLUS: • Chapter 1 WileyPLUS Crossword Puzzle 1

13. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 1 WileyPlus Assignment DI1-3, E1-3,E1-4, E2-4, IFRS2-4 (New) For more course tutorials visit www.newtonhelp.com WileyPLUS Assignment: Week 1 Assignment Resource: WileyPLUS Complete the following Week 1 Assignment in WileyPLUS: • DO IT! 1-3

14. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 2 Apply Connect Assignment For more course tutorials visit www.newtonhelp.com ACC 290 Week 2 Apply Connect Assignment Complete the Week 2 Assignment in Connect.

15. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 2 Apply: Connect® Exercise For more course tutorials visit www.newtonhelp.com ACC 290 Week 2 Apply: Connect® Exercise Review the Knowledge Check in preparation for this assignment. Complete the Week 2 Exercise in Connect®. Note: You have only one attempt available to complete this assignment.

16. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 2 Chapter 1,2,3 Orion WileyPlus Proficiency and Practice Quiz For more course tutorials visit www.newtonhelp.com ACC 290 Chapter 1 Orion WileyPlus Build your Proficiency Q 1.1: What is the primary purpose of the statement of cash flows?   Q 1.2: Which financial statement summarizes the financial position of a company? Q 1.3: Which financial statement provides information for a specific point in time?

17. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 2 Charter for Collaborative Learning Activities For more course tutorials visit www.newtonhelp.com Resources: Week 2 Learning Team Collaborative Discussion and the Learning Team Charter for Collaborative Learning Activities Write a 150- to 200-word individual response to the following: ·         Consider the multiple definitions of collaboration.

18. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 2 Discussion Question 1 For more course tutorials visit www.newtonhelp.com What is the revenue recognition principle? What is the expense recognition principle? Why are they important to financial reporting? What are adjusting entries and why are they necessary? What are accruals? Provide examples of accruals. Why do accruals require adjusting entries? What are deferrals? What are some examples of deferrals? Why do deferrals require adjusting entries?

19. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 2 Discussion Question 2 For more course tutorials visit www.newtonhelp.com What accounts are subject to adjusting journal entries and why? How would you explain the purpose of the adjusted trial balance?

20. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 2 E3-1 (New) For more course tutorials visit www.newtonhelp.com The balance sheet makes sure that the finances are in balance. Below is a list of Thyme Advertising Company, Inc. transactions. Each of these is affected differently.

21. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 2 LT Reflection Summary (New) For more course tutorials visit www.newtonhelp.com 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.

22. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 2 LT Reflection Summary For more course tutorials visit www.newtonhelp.com Discuss the objectives for ACC 290 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.

23. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 2 Practice Connect Practice Assignment For more course tutorials visit www.newtonhelp.com ACC 290 Week 2 Practice: Connect Practice Assignment Complete the Week 2 Practice in Connect. Note: You have unlimited attempts available to complete practice assignments

24. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 2 Practice: Connect® Knowledge Check For more course tutorials visit www.newtonhelp.com ACC 290 Week 2 Practice: Connect® Knowledge Check Complete the Week 2 Knowledge Check in Connect®. Note: You have unlimited attempts available to complete this practice assignment. The highest scored attempt will be recorded.

25. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 2 Practice Quiz (New) For more course tutorials visit www.newtonhelp.com 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

26. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 2 Vocabulary Activity (New) For more course tutorials visit www.newtonhelp.com WileyPLUS Assignment: Week 2 Vocabulary Activity Resource: WileyPLUS Complete the following Week 2 Assignment in WileyPLUS:

27. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 2 WileyPlus Assignment BYP2-2, IFRS2-6, E3-4, E3-8, BYP 3-2, IFRS 3-2, P3-5, P3-6 (New) For more course tutorials visit www.newtonhelp.com WileyPLUS Assignment: Week 2 Assignment Resource: WileyPLUS Complete the following Week 2 Assignment in WileyPLUS:

28. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 3/4 Learning Team Financial Reporting Problem, Part 1 (**2 Different Papers**)(New) For more course tutorials visit www.newtonhelp.com 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:

29. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 3 Apply Connect Assignment (with Excel File) For more course tutorials visit www.newtonhelp.com This Tutorial contains an Excel File which can be used for any values ACC 290 Week 3 Apply Connect Assignment Complete the Week 3 Assignment in Connect.

30. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 3 Apply: Connect® Exercise For more course tutorials visit www.newtonhelp.com ACC 290 Week 3 Apply: Connect® Exercise Review the Knowledge Check in preparation for this assignment. Complete the Week 3 Exercise in Connect®. Note: You have only one attempt available to complete this assignment.

31. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 3 Chapter 4,5 Orion WileyPlus Proficiency and Practice Quiz For more course tutorials visit www.newtonhelp.com ACC 290 Chapter 4 Orion WileyPlus Build your Proficiency Q 4.1:              Which of the following statements about accrual-basis accounting is NOT true? Q 4.2:              If a company spends $12 million dollars for a warehouse, when should the cost be written off?

32. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 3 Discussion Question 1 For more course tutorials visit www.newtonhelp.com What are the steps in completing the accounting cycle? How do the different steps affect the financial statements? What is the effect on the financial statements of missing a step when completing the accounting cycle? What are the four closing journal entries? Why are they necessary? What are reversing entries? Why are they used? What are the pros and cons of using reversing entries? Why are reversing entries optional?

33. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 3 Discussion Question 2 For more course tutorials visit www.newtonhelp.com What are the pros and cons of using reversing entries? Why are reversing entries optional? What is the main purpose of a financial statement worksheet and its benefits? How has automation aided the preparation, accuracy, and use of the financial statement worksheet?

34. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 3 LT Reflection Summary For more course tutorials visit www.newtonhelp.com 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.  Write a 350 to 500 word summary of your Learning Team’s discussion.

35. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 3 Practice Connect Practice Assignment For more course tutorials visit www.newtonhelp.com ACC 290 Week 3 Practice Connect Practice Assignment Complete the Week3 Practice in Connect. Note: You have unlimited attempts available to complete practice assignments

36. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 3 Practice Quiz (New) For more course tutorials visit www.newtonhelp.com Question 1 The revenue recognition principle dictates that revenue is recognized in the period in which the cash is received.            

37. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 3 Practice: Connect® Knowledge Check For more course tutorials visit www.newtonhelp.com ACC 290 Week 3 Practice: Connect® Knowledge Check Complete the Week 3 Knowledge Check in Connect®. Note: You have unlimited attempts available to complete this practice assignment. The highest scored attempt will be recorded.

38. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 3 Problem 5-5A (Simon Company) For more course tutorials visit www.newtonhelp.com Purpose of Assignment  The purpose of this assignment is to help you become familiar with the parts of the multiple‐step income statement. Assignment Steps  Resources:Financial Accounting: Tools for Business Decision Making

39. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 3 Vocabulary Activity (New) For more course tutorials visit www.newtonhelp.com WileyPLUS Assignment: Week 3 Practice Quiz Resource: WileyPLUS Complete the following Week 3 Assignment in WileyPLUS: • Chapter 4 Practice Quiz

40. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 3 WileyPlus Assignment BE4-1, P4-2A, P4-3A, BYP4-1, IFRS PQ-1, PQ-2, PQ-3, PQ-4 (New) For more course tutorials visit www.newtonhelp.com Assignment: Week 3 Assignment Complete the following Week 3 Assignment • Brief Exercise 4-1 • Problem 4-2A • Problem 4-3A

41. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 4/5 Individual Assignment Financial Reporting Problem Part II (**2 Different Papers**)(New) For more course tutorials visit www.newtonhelp.com 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.

42. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 4 Apply Connect Assignment (100% Correct) (With Excel File) For more course tutorials visit www.newtonhelp.com This Tutorial contains an Excel File which can be used for any values ACC 290 Week 4 Apply Connect Assignment Note: You have only 1 attempt available to complete assignments

43. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 4 Apply: Connect® Exercise For more course tutorials visit www.newtonhelp.com ACC 290 Week 4 Apply: Connect® Exercise Review the Knowledge Check in preparation for this assignment. Complete the Week 4 Exercise in Connect®. Note: You have only one attempt available to complete this assignment.

44. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 4 Chapter 6 Orion WileyPlus Proficiency and Practice Quiz For more course tutorials visit www.newtonhelp.com ACC 290 Chapter 6 Orion WileyPlus Build your Proficiency Q 6.1:              Where is inventory reported? Q 6.2:              ________ are items that will eventually be used in production Q 6.3: How is inventory ready for sale classified in a manufacturing company? 

45. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 4 Discussion Question 1 For more course tutorials visit www.newtonhelp.com How would you calculate cost of goods sold? What items make up cost of goods sold? How does beginning and ending inventory affect cost of goods sold? What are the journal entries a merchandising organization would use to record the purchase and subsequent sale of merchandise?

46. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 4 Discussion Question 2 For more course tutorials visit www.newtonhelp.com What are the three different inventory cost flow assumptions commonly used in commerce today and allowed by generally accepted accounting principles?

47. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 4 LT Reflection Summary For more course tutorials visit www.newtonhelp.com Reflection and Financial Reporting Problem Part I. Discuss the objectives for ACC 290 Week Three.  How do they relate to the practice of accounting and its uses in business?  Prepare closing entries, reversing entries, and a post closing trial balance.  Prepare a financial statement work sheet.  Prepare a classified income statement, retained earnings statement and balance sheet. Write a 350 to 500 word summary of your Learning Team’s discussion.

48. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 4 Practice Connect Practice Assignment For more course tutorials visit www.newtonhelp.com ACC 290 Week 4 Practice Connect Practice Assignment Complete the Week 4 Practice in Connect. Note: You have unlimited attempts available to complete practice assignments.

49. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 4 Practice: Connect® Knowledge Check For more course tutorials visit www.newtonhelp.com ACC 290 Week 4 Practice: Connect® Knowledge Check Complete the Week 4 Knowledge Check in Connect®. Note: You have unlimited attempts available to complete this practice assignment. The highest scored attempt will be recorded.

50. ACC 290 (New) Education Redefined/newtonhelp.com ACC 290 Week 4 Practice Quiz (New) For more course tutorials visit www.newtonhelp.com 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.