Acc 205 Week 2 Dq 1 Accounting Cycle New

In: Business and Management

Submitted By nerdypupil
Words 725
Pages 3
ACC 205 WEEK 2 DQ 1 ACCOUNTING CYCLE NEW
To purchase this visit here: http://www.nerdypupil.com/product/acc-205-week-2-dq-1-accounting-cycle-new/ Contact us at: nerdypupil@gmail.com ACC 205 WEEK 2 DQ 1 ACCOUNTING CYCLE NEW
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.
Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 205 Week 2 DQ 1 Accounting Cycle New in order to ace their studies.
ACC 205 WEEK 2 DQ 1 ACCOUNTING CYCLE NEW
To purchase this visit here: http://www.nerdypupil.com/product/acc-205-week-2-dq-1-accounting-cycle-new/ Contact us at: nerdypupil@gmail.com ACC 205 WEEK 2 DQ 1 ACCOUNTING CYCLE NEW
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…...

Similar Documents

Acc 205 Week 2 a 1

...Week Two Exercise Assignment Revenue and Expenses 1. Recognition of concepts. Jim Armstrong 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 Interest owed on the company's bank loan, to be paid in early July b Professional fees earned but not billed as of June 30 c Office supplies on hand at year-end d An advance payment from a client for a performance next month at a convention e The payment in part (d) from the client's point of view f Amounts paid on June 30 for a 1-year insurance policy g The bank loan payable in part (a) h Repairs to the firm's copy machine, incurred and paid in June 2. Understanding the closing process. Examine the following list of accounts: Note Payable | Accumulated Depreciation: Building | Alex Kenzy, Drawing | Accounts Payable | Product Revenue | Cash | Accounts Receivable | Supplies Expense | Utility Expense | Which of the preceding accounts a. appear on a post-closing trial balance? b. are commonly known as temporary, or nominal, accounts? c. generate a debit to Income Summary in the closing process? d. are closed to the capital account in the closing process? 3. Adjusting entries and financial statements. The following......

Words: 1133 - Pages: 5

Acc 310 Week 2 Dq 1 Fundamentals of Cost Accounting for Decision

...ACC 310 Week 2 DQ 1 Fundamentals of Cost Accounting for Decision Purchase here http://chosecourses.com/acc-310-week-2-dq-1-fundamentals-of-cost-accounting-for-decision Description Fundamentals of Cost Accounting for Decision Making. Complete Question 4-23 and 4-24. Remember to complete all parts of the problems and report the results of your analysis. Do not forget to show the necessary steps and explain how your attained that outcome. Respond to at least two of your classmates’ postings. ACC 310 Week 2 DQ 1 Fundamentals of Cost Accounting for Decision Purchase here http://chosecourses.com/acc-310-week-2-dq-1-fundamentals-of-cost-accounting-for-decision Description Fundamentals of Cost Accounting for Decision Making. Complete Question 4-23 and 4-24. Remember to complete all parts of the problems and report the results of your analysis. Do not forget to show the necessary steps and explain how your attained that outcome. Respond to at least two of your classmates’ postings. ACC 310 Week 2 DQ 1 Fundamentals of Cost Accounting for Decision Purchase here http://chosecourses.com/acc-310-week-2-dq-1-fundamentals-of-cost-accounting-for-decision Description Fundamentals of Cost Accounting for Decision Making. Complete Question 4-23 and 4-24. Remember to complete all parts of the problems and report the results of your analysis. Do not forget to show the necessary steps and explain how your attained that...

Words: 250 - Pages: 1

Acc 310 Week 2 Dq 1 Fundamentals of Cost Accounting for Decision

...ACC 310 Week 2 DQ 1 Fundamentals of Cost Accounting for Decision Purchase here http://chosecourses.com/acc-310-week-2-dq-1-fundamentals-of-cost-accounting-for-decision Description Fundamentals of Cost Accounting for Decision Making. Complete Question 4-23 and 4-24. Remember to complete all parts of the problems and report the results of your analysis. Do not forget to show the necessary steps and explain how your attained that outcome. Respond to at least two of your classmates’ postings. ACC 310 Week 2 DQ 1 Fundamentals of Cost Accounting for Decision Purchase here http://chosecourses.com/acc-310-week-2-dq-1-fundamentals-of-cost-accounting-for-decision Description Fundamentals of Cost Accounting for Decision Making. Complete Question 4-23 and 4-24. Remember to complete all parts of the problems and report the results of your analysis. Do not forget to show the necessary steps and explain how your attained that outcome. Respond to at least two of your classmates’ postings. ACC 310 Week 2 DQ 1 Fundamentals of Cost Accounting for Decision Purchase here http://chosecourses.com/acc-310-week-2-dq-1-fundamentals-of-cost-accounting-for-decision Description Fundamentals of Cost Accounting for Decision Making. Complete Question 4-23 and 4-24. Remember to complete all parts of the problems and report the results of your analysis. Do not forget to show the necessary steps and explain how your attained that...

Words: 499 - Pages: 2

Acc 205 Week 2 Acc205 Week 2

...ACC 205 Complete Course ACC205 Complete Course Click Link for The Answer: http://workbank247.com/q/acc-205-complete-course-acc205-complete-course-new/13407 http://workbank247.com/q/acc-205-complete-course-acc205-complete-course-new/13407 ACC 205 WEEK 2 EXERCISE ASSIGNMENT REVENUE AND EXPENSES(NEW) 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 policy b. Professional fees earned but not billed as of June 30 c. Repairs to the firm’s copy machine, incurred and paid in June d. An advance payment from a client for a performance next month at a convention e. The payment in part (d) from the client’s point of view f. Interest owed on the company’s bank loan, to be paid in early July g. The bank loan payable in part (f) h. Office supplies on hand at year-end 2. Analysis of prepaid account balance. The following information relates to Action Sign Company for 20X2: Insurance expense  $4,350 Prepaid insurance, December 31, 20X2  1,900  Cash outlays for insurance during 20X2  6,200 Compute the balance in the Prepaid Insurance account on January 1, 20X2. 3. Understanding the closing process. Examine the......

Words: 6978 - Pages: 28

Acc 205 Week 1 Acc205 Week 1

...ACC 205 Complete Course ACC205 Complete Course Click Link for The Answer: http://workbank247.com/q/acc-205-complete-course-acc205-complete-course-new/13407 http://workbank247.com/q/acc-205-complete-course-acc205-complete-course-new/13407 ACC 205 WEEK 2 EXERCISE ASSIGNMENT REVENUE AND EXPENSES(NEW) 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 policy b. Professional fees earned but not billed as of June 30 c. Repairs to the firm’s copy machine, incurred and paid in June d. An advance payment from a client for a performance next month at a convention e. The payment in part (d) from the client’s point of view f. Interest owed on the company’s bank loan, to be paid in early July g. The bank loan payable in part (f) h. Office supplies on hand at year-end 2. Analysis of prepaid account balance. The following information relates to Action Sign Company for 20X2: Insurance expense  $4,350 Prepaid insurance, December 31, 20X2  1,900  Cash outlays for insurance during 20X2  6,200 Compute the balance in the Prepaid Insurance account on January 1, 20X2. 3. Understanding the closing process. Examine the following list of......

Words: 6979 - Pages: 28

Acc 225 Week 1 Dq 1 and Dq 2

...ACC 225 Week 1 DQ 1 and DQ 2 http://homeworkgallery.com/index.php/product/acc-225-week-1-dq-1-and-dq-2/ Discussion Question 1 • Due Date: Day 2 [post to the Main forum] http://homeworkgallery.com/index.php/product/acc-225-week-1-dq-1-and-dq-2/ • Post your response to the following: Interview a friend or family member about his/her work environment. Is his/her organization a sole proprietorship, partnership, or corporation? Who is involved with the accounting decisions and information? In what ways is your friend or family member affected by the accounting information? Discussion Question 2 • Due Date: Day 4 [post to the Main forum] • Post your response to the following: Describe one of the four basic financial statements, and answer the following questions. o For what is it typically used? o What information is the most valuable? o How does it complement another financial statement? • Respond to a classmate who selected a different financial statement from yours. How do the financial statements tie into one another? http://homeworkgallery.com/index.php/product/acc-225-week-1-dq-1-and-dq-2/ ABS 415,ABS 417,ABS 497,ACC 201,ACC 202,ACC 205,ACC 205(NEW),ACC 206,ACC 206(NEW),ACC 210,ACC 220,ACC 225,ACC 226,ACC 227,ACC 230,ACC 250, ACC 260,ACC 281,ACC 290,ACC 290 (New),ACC 291,ACC 291(New),ACC 300,ACC 305,ACC 306,ACC 310,ACC 340,ABS 200,ANT 101,BCOM 230,BCOM 275,BIO 240,BIS 318,BIS 320,BHSH 311,BUS 210,BUS 226,BUS 230,BUS 235,BUS 270,BUS 272,BUS......

Words: 505 - Pages: 3

Acc 206 Week 1 Dq 2 Apples Cash Flow New

...ACC 206 WEEK 1 DQ 2 APPLES CASH FLOW NEW To purchase this visit here: http://www.nerdypupil.com/product/acc-206-week-1-dq-2-apples-cash-flow-new/ Contact us at: nerdypupil@gmail.com ACC 206 WEEK 1 DQ 2 APPLES CASH FLOW NEW Go to http://finance.yahoo.com. Enter in “AAPL” and click on the “get quote” button, and it will bring up information on Apple. On the left hand side you’ll see a section on Financials. Within that section, click on the cash flow. Review the cash flow statement for Apple. How would you summarize Apple’s cash flow position and what does this statement tell you about where the money is coming from and where it’s going? What would you suggest Apple’s do to improve its cash position and why? Guided Response: Analyze several of your peers’ postings. Do you agree with the posting? Let at least two of your peers know what you would add. Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 206 Week 1 DQ 2 Apples Cash Flow New in order to ace their studies. ACC 206 WEEK 1 DQ 2 APPLES CASH FLOW NEW To purchase this visit here: http://www.nerdypupil.com/product/acc-206-week-1-dq-2-apples-cash-flow-new/ Contact us at: nerdypupil@gmail.com ACC 206 WEEK 1 DQ 2 APPLES CASH FLOW NEW Go to http://finance.yahoo.com. Enter in “AAPL” and click on the “get quote” button, and it will bring up information on Apple. On the left hand side you’ll see a section on Financials. Within that section, click on the cash flow.......

Words: 577 - Pages: 3

Acc 205 Week 3 Dq 1 Lifo vs Fifo New

...ACC 205 WEEK 3 DQ 1 LIFO VS FIFO NEW To purchase this visit here: http://www.nerdypupil.com/product/acc-205-week-3-dq-1-lifo-vs-fifo-new/ Contact us at: nerdypupil@gmail.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? Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 205 Week 3 DQ 1 LIFO vs FIFO New in order to ace their studies. ACC 205 WEEK 3 DQ 1 LIFO VS FIFO NEW To purchase this visit here: http://www.nerdypupil.com/product/acc-205-week-3-dq-1-lifo-vs-fifo-new/ Contact us at: nerdypupil@gmail.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......

Words: 511 - Pages: 3

Acc 205 Week 2 Dq 2 Bank Reconciliation New

...ACC 205 WEEK 2 DQ 2 BANK RECONCILIATION NEW To purchase this visit here: http://www.nerdypupil.com/product/acc-205-week-2-dq-2-bank-reconciliation-new/ Contact us at: nerdypupil@gmail.com ACC 205 WEEK 2 DQ 2 BANK RECONCILIATION NEW 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. Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 205 Week 2 DQ 2 Bank Reconciliation New in order to ace their studies. ACC 205 WEEK 2 DQ 2 BANK RECONCILIATION NEW To purchase this visit here: http://www.nerdypupil.com/product/acc-205-week-2-dq-2-bank-reconciliation-new/ Contact us at: nerdypupil@gmail.com ACC 205 WEEK 2 DQ 2 BANK RECONCILIATION NEW 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......

Words: 556 - Pages: 3

Acc 205 Week 1 Dq 2 Debit and Credit Ash Course

...ACC 205 WEEK 1 DQ 2 DEBIT AND CREDIT ASH COURSE To purchase this visit here: http://www.nerdypupil.com/product/acc-205-week-1-dq-2-debit-and-credit-ash-course/ Contact us at: nerdypupil@gmail.com ACC 205 WEEK 1 DQ 2 DEBIT AND CREDIT ASH COURSE Define the terms “debit” and “credit”. Explain how debits and credits affect the following: assets, liabilities, owner’s capital account, revenues and expenses. Respond to at least two of your classmates’ postings. Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 205 Week 1 DQ 2 Debit and Credit Ash Course in order to ace their studies. ACC 205 WEEK 1 DQ 2 DEBIT AND CREDIT ASH COURSE To purchase this visit here: http://www.nerdypupil.com/product/acc-205-week-1-dq-2-debit-and-credit-ash-course/ Contact us at: nerdypupil@gmail.com ACC 205 WEEK 1 DQ 2 DEBIT AND CREDIT ASH COURSE Define the terms “debit” and “credit”. Explain how debits and credits affect the following: assets, liabilities, owner’s capital account, revenues and expenses. Respond to at least two of your classmates’ postings. Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 205 Week 1 DQ 2 Debit and Credit Ash Course in order to ace their studies. ACC 205 WEEK 1 DQ 2 DEBIT AND CREDIT ASH COURSE To purchase this visit here: http://www.nerdypupil.com/product/acc-205-week-1-dq-2-debit-and-credit-ash-course/ Contact us at: nerdypupil@gmail.com ACC 205 WEEK 1 DQ 2...

Words: 561 - Pages: 3

Acc 205 Week 1 Dq 2 Accounts New

...ACC 205 WEEK 1 DQ 2 ACCOUNTS NEW To purchase this visit here: http://www.nerdypupil.com/product/acc-205-week-1-dq-2-accounts-new/ Contact us at: nerdypupil@gmail.com ACC 205 WEEK 1 DQ 2 ACCOUNTS NEW 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? Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 205 Week 1 DQ 2 Accounts New in order to ace their studies. ACC 205 WEEK 1 DQ 2 ACCOUNTS NEW To purchase this visit here: http://www.nerdypupil.com/product/acc-205-week-1-dq-2-accounts-new/ Contact us at: nerdypupil@gmail.com ACC 205 WEEK 1 DQ 2 ACCOUNTS NEW 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? Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 205 Week 1 DQ 2 Accounts New in order to......

Words: 409 - Pages: 2

Acc 205 Week 1 Dq 1 Accounting Equation New

...ACC 205 WEEK 1 DQ 1 ACCOUNTING EQUATION NEW To purchase this visit here: http://www.nerdypupil.com/product/acc-205-week-1-dq-1-accounting-equation-new/ Contact us at: nerdypupil@gmail.com ACC 205 WEEK 1 DQ 1 ACCOUNTING EQUATION NEW 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. Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 205 Week 1 DQ 1 Accounting Equation New in order to ace their studies. ACC 205 WEEK 1 DQ 1 ACCOUNTING EQUATION NEW To purchase this visit here: http://www.nerdypupil.com/product/acc-205-week-1-dq-1-accounting-equation-new/ Contact us at: nerdypupil@gmail.com ACC 205 WEEK 1 DQ 1 ACCOUNTING EQUATION NEW 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......

Words: 665 - Pages: 3

Acc 205 Week 1 Dq 1 Accounting Equation New

...ACC 205 WEEK 1 DQ 1 ACCOUNTING EQUATION NEW To purchase this visit here: http://www.nerdypupil.com/product/acc-205-week-1-dq-1-accounting-equation-new/ Contact us at: nerdypupil@gmail.com ACC 205 WEEK 1 DQ 1 ACCOUNTING EQUATION NEW 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. Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 205 Week 1 DQ 1 Accounting Equation New in order to ace their studies. ACC 205 WEEK 1 DQ 1 ACCOUNTING EQUATION NEW To purchase this visit here: http://www.nerdypupil.com/product/acc-205-week-1-dq-1-accounting-equation-new/ Contact us at: nerdypupil@gmail.com ACC 205 WEEK 1 DQ 1 ACCOUNTING EQUATION NEW 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......

Words: 665 - Pages: 3

Acc 250 Week 2 Dq 1 and Dq 2

...ACC 250 WEEK 2 DQ 1 AND DQ 2 To purchase this visit here: http://www.nerdypupil.com/product/acc-250-week-2-dq-1-and-dq-2/ Contact us at: nerdypupil@gmail.com ACC 250 WEEK 2 DQ 1 AND DQ 2 Discussion Questions You have just completed training for your new position in a large accounting firm. The trainer has covered the difference between manual accounting and computerized accounting. What questions do you have regarding the differences? What are the advantages of computerized accounting versus manual accounting? What was the most challenging aspect of the material covered this week? What aspects did you find most beneficial? Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 250 Week 2 DQ 1 and DQ 2 in order to ace their studies. ACC 250 WEEK 2 DQ 1 AND DQ 2 To purchase this visit here: http://www.nerdypupil.com/product/acc-250-week-2-dq-1-and-dq-2/ Contact us at: nerdypupil@gmail.com ACC 250 WEEK 2 DQ 1 AND DQ 2 Discussion Questions You have just completed training for your new position in a large accounting firm. The trainer has covered the difference between manual accounting and computerized accounting. What questions do you have regarding the differences? What are the advantages of computerized accounting versus manual accounting? What was the most challenging aspect of the material covered this week? What aspects did you find most beneficial? Home Work Hour aims to provide quality study notes and tutorials to......

Words: 829 - Pages: 4

Acc 281 Week 1 Dq 2 Why Is Accounting Needed

...ACC 281 WEEK 1 DQ 2 WHY IS ACCOUNTING NEEDED To purchase this visit here: http://www.nerdypupil.com/product/acc-281-week-1-dq-2-why-is-accounting-needed/ Contact us at: nerdypupil@gmail.com ACC 281 WEEK 1 DQ 2 WHY IS ACCOUNTING NEEDED Why is Accounting Needed? How would healthcare companies operate without accounting? Why do we need financial and managerial accounting and what are the fundamental differences between the two? You must respond to at least two of your classmates’ postings to receive full credit Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 281 Week 1 DQ 2 Why is accounting needed in order to ace their studies. ACC 281 WEEK 1 DQ 2 WHY IS ACCOUNTING NEEDED To purchase this visit here: http://www.nerdypupil.com/product/acc-281-week-1-dq-2-why-is-accounting-needed/ Contact us at: nerdypupil@gmail.com ACC 281 WEEK 1 DQ 2 WHY IS ACCOUNTING NEEDED Why is Accounting Needed? How would healthcare companies operate without accounting? Why do we need financial and managerial accounting and what are the fundamental differences between the two? You must respond to at least two of your classmates’ postings to receive full credit Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 281 Week 1 DQ 2 Why is accounting needed in order to ace their studies. ACC 281 WEEK 1 DQ 2 WHY IS ACCOUNTING NEEDED To purchase this visit......

Words: 601 - Pages: 3