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ACC 205

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Exercises 2.        Basic computations. The following selected balances were extracted from the accounting records of Rossi Enterprises on December 31, 20X3: a.         Determine Rossi's total assets as of December .....
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ACC 205 Week 1 Chapter 1,2 Quiz and Video Quiz     1. In accounting the concept of materiality refers to ________________.       Question 2. 2. Typically accounting transactions are recorded and reported at _______________. Question 3. 3.....
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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: Revie.....
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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’ posti.....
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Balance Sheet Journal 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 S.....
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Exercise 4 4. Accounting for prepaid expenses and unearned revenues. Hawaii-Blue began business on January 1 of the current year and offers deep-sea fishing trips to tourists. Tourists pay $125 in advance for an all-day outing off the coast of Maui. The company collected monies during January.....
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ACC 205 Week 2 Chapter 3,4 Quiz and Video Quiz     1. The accrual basis of accounting means_______________________.       Question 2. 2. Under accrual basis accounting revenue is not recognized until _________________.    .....
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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 .....
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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 t.....
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This Tutorial was purchased 8 times & rated A by student like you.

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 re.....
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Chapter 5, Exercise 1 Inventory errors and income measurement. The income statements of Keagle Company for 20X3 and 20X4 follow. 20X3                           20X4.....
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ACC 205 Week 3 Chapter 5,6 Quiz and Video Quiz     1. Gross Profit is ___________________.       Question 2. 2. All of the following are considered part of inventory cost except__________.        Question 3.....
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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.&n.....
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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 depr.....
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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? Careful.....
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Chapter 7 Exercise 2 and 4 2.         Accrued liability: current portion of long-term debt. On July 1, 20X1, Hall Company borrowed $225,000 via a long-term loan. Terms of the loan require that Hall pay interest and $75,000 of principal on July 1, 20X2, .....
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ACC 205 Week 4 Chapter 7,8 Quiz and Video Quiz   1. Current Liabilities are _____________________________. (Points : 1)   Question 2. 2. The Unearned Revenue account is used to record ____________________. (Points : 1)     Question 3. 3. A contingen.....
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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 busines.....
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A client comes to you thinking about starting a consulting business.  Specifically your client is interested in what type of entity should be created for this new business.  Based on your readings or any additional research you may have done, discuss the advantages and disadvantages of .....
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The current liability section of the balance sheet lists the liabilities that are due within the next 12 months.  Reflecting on your current financial situation, apply the concept of current liabilities.  What does this analysis tell you about your future obligations?  What did you.....
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Chapter 9 Exercise 3 Liquidity ratios. Edison, Stagg, and Thornton have the following financial information at the close of business on July 10: Compute the current and quick ratios for each of the three companies. (Round calculations to two decimal places.) Which firm is the most liquid?.....
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ACC 205 Week 5 Chapter 9 Quiz and Video Quiz     Question 1. 1. Common-size financial statements means___________________.    Question 2. 2. Vertical analysis of a financial statement involves_______________.    Question 3. 3. Horizontal.....
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ACC 205 Week 5 DQ 1 .....
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ACC 205 Week 5 DQ 2 .....
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This Tutorial was purchased 5 times & rated A+ by student like you.

This Tutorial contains 3 Papers Paper 1: Boeing Paper 2: General Electric Paper 3: Lowe’s Home   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.....
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This Tutorial was purchased 3 times & rated A+ by student like you.

This Tutorial contains 2 Papers Paper 1: Microsoft Paper 2: StarBucks   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.&.....
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This Tutorial was purchased 36 times & rated A by student like you.

This Tutorial contains 2 Papers Paper 1: Walmart Paper 2: Qualcomm   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.&nbs.....
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This Tutorial was purchased 7 times & rated A by student like you.

Most Important Ratio Journal Reflect for a moment on the ratios (working capital, current ratio, quick ratio, debt to asset, debt to equity, times interest earned, gross margin and net margin) presented this week.  If you were considering investing in a company what ratio would be the mo.....
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