ACC 363 Full Course

ACC 363 Full Course in $19 OnlyACC 363 Full Course

ACC 363 ACC363 Full Course, All Assignments, All DQ’s. A Graded

ACC 363 Week 1 DQ1

Many of you have probably heard that a new car “depreciates” or loses value as soon as you drive it off the lot. While this is what most people call “depreciation”, it has a completely different meaning in accounting. In accounting, what is depreciation?

ACC 363 Week 1 DQ2

Why would you select the percentage of sales method on calculating doubtful accounts as opposed to the percentage of receivables method? Which method favors the income statement? Which method favors the balance sheet?

ACC 363 Week 1 DQ3

What is the purpose of a subsidiary ledger? How are subsidiary ledgers used in journalizing entries?

ACC 363 Week 1 Assignments From the Readings

Week 1 Individual

Resource: Ch. 9 of Financial Accounting

Prepare written responses to Exercise E9-2 in the text.

The ledger of Elburn Company at the end of the present year demonstrates Accounts Receivable $110,000, Sales $840,000, and Sales Returns and Allowances $28,000.

ACC 363 Week 2 DQ1

Many of you have probably heard that a new car “depreciates” or loses value as soon as you drive it off the lot. While this is what most people call “depreciation”, it has a completely different meaning in accounting. In accounting, what is depreciation?

ACC 363 Week 2 DQ2

Why would you select the percentage of sales method on calculating doubtful accounts as opposed to the percentage of receivables method? Which method favors the income statement? Which method favors the balance sheet?

ACC 363 Week 2 DQ3

What is the purpose of a subsidiary ledger? How are subsidiary ledgers used in journalizing entries?

ACC 363 Week 2 Assignments From the Readings

Resource: Ch. 10 of Financial Accounting

Prepare written responses to Problem P10-3A in the text.

Resource: Ch. 10 of Financial Accounting

Prepare written responses to Exercise E10-6 and Exercise E10-8 in the text.

Presented below are selected transactions at Thomas Company for 2006.

Jan. 1 retired a piece of machinery which was bought on January 1, 1996.

The machine cost $62,000 on that date. It had a useful life of 10 years with no salvage value.

(a)(1) Jan. 1

ACC 363 Week 3 DQ1

What payroll taxes are paid by the employee? Which are paid by the employer? What types of reports are used to document to the government the payroll taxes paid by the employer and employee?

ACC 363 Week 3 DQ2

Why do companies issue bonds? What determines whether a bond sells at face value, a discount or a premium?

ACC 363 Week 3 DQ3

What is unearned revenue and why is it considered a liability? When is unearned revenue recognized in the financial statements?

ACC 363 Week 2 Learning Team Assignments From the Readings

ACC 363 Week 3 Assignments From the Readings

Resource: Ch. 11 of Financial Accounting

Prepare written responses to Problem P11-6A and Problem P11-7A in the text.

Resource: Ch. 11 & Appendix D of Financial Accounting

Prepare written responses to Brief Exercise BE11-1, Problem P11-1A, Exercise ED-1, and Exercise ED-3 in the text.

Week 3 Ind. – Identify whether obligations are current liabilities

BE11-1 Cardinal Company has the following obligations at December 31:

Long-term (a) a note payable for $100,000 payable in 2 years,

Present Liability of $30, 000 (b) a 10-year mortgage payable of $300,000 due in ten $30,000 annual payments,

Present Liability (c) interest payable of $15,000 on the mortgage,

Present Liability (d) accounts payable of $60,000.

For each obligation, specify whether it must be categorized as a present liability.

(Presume an operating cycle of less than one year.)

Prepare current liability entries, adjusting entries, and current liabilities section

ACC 363 Week 4 DQ1

Why are companies required to prepare a statement of cash flows? Why is the statement of cash flows divided into three sections? What does each section tell you about the operations of a company?

ACC 363 Week 4 DQ2

What are some common ratios to analyze financial information? What are some examples of how ratios are used in the decision making process?

ACC 363 Week 4 DQ3

What are the differences between the direct and indirect presentation of cash flows? Why does the FASB allow both methods?

ACC 363 Week 4 Assignments From the Readings8

Resource: Ch. 12 of Financial Accounting

Prepare written responses to Exercise E12-2, Exercise E12-8, Exercise E12-10, and Problem P12-2A in the text.

Armada Corporation

a)
General Journal
Date    Account    Debit    Credit
June 15    Retained Earnings    $110.000
Dividends Due        $110.000
July 10    Dividends Due    $110.000
Cash        $110.000
Dec. 15    Retained Earnings    $134.400
Dividends Due        $134.400

b)
Dividends are subtracted from the balance of Beginning Retained Earnings on the Report of Retained
Earnings, while Dividends Due are reported as a Current Liability on the Balance Sheet.

Not Needed, but here are all the journal entries

ACC 363 Week 4 Learning Team Corporate Characteristics Proposal

Read the following:

Your team has been hired as consultants for a start-up business venture. As part of your analysis of the new business venture, prepare a 1,050- to 1,750-word proposal to the CEO in which you discuss:

·  The different forms of business organizations that may be selected as the basis for the business

·  The characteristics of a corporation

·  The different types of stocks and corresponding characteristics, which a corporation may issue

·  The advantages and disadvantages to the corporate form of doing business

Cite the source or sources of the data you used to calculate your ratios and the horizontal and vertical analysis in your paper. If you used an electronic source, include the URL. If you used a printed source, please attach a copy of the data to your paper.

An Analysis of the New Business Venture

Introduction

As a part of our study for the new business project, Consulting Team A has collected relevant information helpful for making start-up business decisions at the corporate level. Particularly, this part of the study talks about the various types of business organizations with a focus on companies and provides in-depth information about the features of a company, the different sorts of stock and corresponding characteristics, and the disadvantages and advantages to the corporate type of doing business. Consulting Team A is confident this document will bring about valuable insight to the new business decision-making process.

Different Forms of Business Organizations

There are a few things to take into consideration when deciding what type of company the new business must be. First, is the company will make money? As a company, the most typical types are for profit and non-profit. For profit companies are the most typical, and, as the name says, they are meant to make money for the stakeholders. For profit companies also will pay more in taxes, both corporately as well as separately. The company pays taxes on its income and the individual stakeholders will pay taxes on their payouts.

ACC 363 Week 5 Assignment Impact of Unethical Behavior Article Analysis

Access the Electronic Reserve Readings for ACC/363, the Internet, or other resources to prepare a 350- to 700-word article analysis in which you identify situations that might lead to unethical practices and behavior in accounting.

Examine the effect of the Sarbanes-Oxley Act of 2002 on financial statements.

Prepare, based upon your article analysis, at least one question for class discussion.

Cite all references in your analysis.

Impact of Unethical Behaviors Article Analysis

Immoral behavior in the accounting world might impact the company, and its stockholders. Misrepresentation of fiscal reports for personal benefits, together with under or overstating fiscal reports is considered as immoral. Immoral practices also are things like kickback, insider trading, and scam. Companies depend on their financials, and their advisors’ reports to be correct and exact. Daily decisions are made based of the statements provided by the main accounting activities. Ethical practices must be held at high respect in all sorts of business, particularly for the workers working in the accounting field. There’s a general responsibility to make sure that information is always to remain private and secret at all times to prevent dishonest activities.

ACC 363 Week 5 Assignments From the Readings

Resource: Ch. 10 of Financial Accounting

Prepare written responses to Problem P14-7A and Problem P14-8A in the text.

ERNEST BANKS COMPANY

Statement of Cash Flows – Indirect Method

For the Year Ended December 31, 2005

Cash flows from operating activities

Net income                                                            $21,000

Adjustments to reconcile net income

to net cash provided by operating

activities

Depreciation expenditure                        $ 7,500

ACC 363 Week 5 Learning Team Ratio Analysis Memo and Presentation

Click the Virtual Organization link on the student Web site to access the Virtual Organizations.

Select one of the Virtual Organizations as the basis for the assignment.

Obtain faculty approval of your selected organization before beginning the assignment.

Access the information contained in your selected organization’s balance sheet and income statement to calculate:

·  Liquidity ratios

o  Current ratio

o  Acid-test, or quick, ratio

o  Receivables turnover

o  Inventory turnover

·  Profitability ratios

o  Asset turnover

o  Profit margin

o  Return on assets

o  Return on common stockholders’ equity

·  Solvency ratios

o  Debt to total assets

o  Times interest earned

Show your calculations for each ratio.

Create a horizontal and vertical analysis for the balance sheet and the income statement.

Prepare a 350- to 750-word memo to the CEO of your selected organization in which you discuss your findings from your ratio calculations and your horizontal and vertical analysis. In your memo, address:

·  What the liquidity, profitability, and solvency ratios tell you about the financial position of the company

·  Which users may be interested in each type of ratio

·  What the collected data tells you about the performance and position of the company

MEMORANDUM

TO:                 CEO, Riordan Manufacturing, Inc.

FROM:           Finance Team A

DATE:

SUBJECT:  Ratio Calculations and Horizontal and Vertical Analysis

Finance Team A has carried out many key financial ratio computations and produced a vertical and horizontal analysis for Riordan’s balance sheet and income report.  By interpreting the ratios and determining important tendencies during a period of time, useful insight can be obtained with regards to the financial performance of the organization.  The following summarizes the use of ratios and gives a short evaluation of Riordan’s financial position depending on the accumulated data.

Liquidity, profitability, and solvency ratios: Liquidity ratios measure the company’s capability to meet short-term commitments because they come due and to meet unpredicted requirements for cash.  As a result, short-term lenders such as bankers and vendors might have a particular interest in these ratios.  Profitability ratios evaluate the capability to earn a reasonable profit on sales, assets, and working capital.  The operating success of a firm is eventually evaluated with regards to earning power and profit; therefore these ratios are of particular significance to lenders and investors. Solvency ratios may be used to evaluate the overall debt status of the organization and assess its financial prospect in the long run.  Debt-paying capability is a primary concern of long-term lenders, shareholders, and bondholders.  Internal and external users of financial statements will attach different levels of significance to different ratios based on their goals, however when liquidity, profitability, and solvency ratios are studied collectively, much can be evaluated about a company’s financial performance and status.

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