ACC 557 Entire Course Financial Accounting

ACC 557 Entire Course Financial Accounting in $149 Only

ACC 557 Financial Accounting Assignments, Discussions, Homework and Quizzes

 ACC 557 Week 1 DQ1

Improper or Illegal Methods

From the e-Activity, identify the company, the accounting impropriety or illegality, how it was detected, the outcome, and propose a strategy that might have prevented the situation. Indicate how the strategy should be implemented.Assess the impact to the company’s financial performance based on the impropriety and the resulting effect to stakeholder confidence in management, recommending how the company can minimize the resulting impact to the business.

ACC 557 Week 1 DQ2

ACC 290 Week 1 Assignment Financial Statements Paper

ACC 290 Week 1 Assignment Financial Statements Paper in $11 onlyACC 290 Week 1 Assignment Financial Statements Paper

Write a 700- to 1,050-word paper in which you do the following:

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 managers and employees.

Discuss how the financial statements would be useful to external users such as investors and creditors.

Format the paper consistent with APA guidelines.

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John’s House Painting Company _Journal to Financial statements

John’s House Painting Company _Journal to Financial statements in $11 only (Instant Download)John’s House Painting Company _Journal to Financial statements

Free Sample Answer Given Below

John’s House Painting Company has the following transactions for the year

1. December 1 – Issued capital stock for $100,000 to start a house painting business.

2. December 1 – Paid one year insurance premium costing $4,800.

3. December 1 – Paid gas expense $200.

4. December 1 – Purchased equipment costing $4,800 on credit.

5. December 12 – Purchased supplies costing $800 on credit.

6. December 18 – Painted three houses totaling $12,000 and billed customers.

7. December 23 – Painted three rooms and billed customers $500.

8. December 28 – Received $2,000 for houses painted in #6.

9. December 31 – Paid for equipment purchased in #4.

10. December 31 – Received $1,000 for a job to paint a house in January next year.

11. December 31 – Paid a $1,000 dividend.

Required:

1. Prepare journal entries for the above transactions.

2. Post the above transactions to T Accounts.

3. Prepare a Trial Balance.

4. Prepare adjusting entries in journal format and post to T Accounts.

  • Supplies on Hand December 31 was $400.
  • The Equipment is to be depreciated over 48 months starting with December. (HINT; Record one month depreciation expense).
  • Wages owed but not paid on December 31 was $200.
  • One month of insurance has expired.

5. Prepare an Adjusted Trial Balance.

6. Prepare an Income Statement, Statement of Retained Earnings and a Balance Sheet.

7. Prepare closing entries in journal format and post to the T Accounts.

8. Prepare a Post-Closing Trial Balance.

Sample Answer:

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Penn Foster 06155600: Financial Accounting Study Guide (25 Questions)

Penn Foster 06155600: Financial Accounting Study Guide (25 Questions) in $39 only (Instant Download)Penn Foster 06155600: Financial Accounting Study Guide (25 Questions)

1. A company has Liabilities of $23,500 and Stockholders’ Equity of $56,500. How much does the company have in Assets?

Sample Answer: 

 23500+56500 = 80000

2. Beginning Retained Earnings are $65,000; sales are $29,500; expenses are $33,000; and dividends paid are $3,500. How much is the net income or loss for the company?

3. Theaccount“Salaries Expense” began with a zero balance and then had the following changes: increase of $450, decrease of $175, increase of $600, and an increase of $350. What is the final balance of the “Salaries Expense” account, and is it a debit orcredit?

BMAL 530 Prepare Balance Sheet and Pro-forma Financial Statements

BMAL 530 Prepare Balance Sheet and Pro-forma Financial Statements in $19 only                               (Instant Download)

Excel Project Instructions

Assume ABC Company has asked you to not only prepare their 2013 year-end Balance Sheet but to also provide pro-forma financial statements for 2014. In addition, they have asked you to evaluate their company based on the pro-forma statements with regard to ratios. They also want you to evaluate 3 projects they are considering. Their information is as follows:

End of the year information:

Account 12/31/13

Ending Balance

Cash 160,000
Accounts Receivable 126,000
Inventory 75,200
Equipment 745,000
Accumulated Depreciation 292,460
Accounts Payable 36,900
Short-term Notes Payable 18,300
Long-term Notes Payable 157,225
Common Stock 450,000
Retained Earnings solve

Additional Information:

· Sales for December total 12,000 units. Each month’s sales are expected to exceed the prior month’s results by 5%. The product’s selling price is $15 per unit.

· Company policy calls for a given month’s ending inventory to equal 80% of the next month’s expected unit sales. The December 31 2012 inventory is 9,400 units, which complies with the policy. The purchase price is $8 per unit.

· Sales representatives’ commissions are 10.0% of sales and are paid in the month of the sales. The sales manager’s monthly salary will be $3,500 in January and $4,000 per month thereafter.

· Monthly general and administrative expenses include $8,000 administrative salaries, $5,000 depreciation, and 0.9% monthly interest on the long-term note payable.

· The company expects 30% of sales to be for cash and the remaining 70% on credit. Receivables are collected in full in the month following the sale (none is collected in the month of sale).

· All merchandise purchases are on credit, and no payables arise from any other transactions. One month’s purchases are fully paid in the next month.

· The minimum ending cash balance for all months is $140,000. If necessary, the company borrows enough cash using a short-term note to reach the minimum. Short-term notes require an interest payment of 1% at each month-end (before any repayment). If the ending cash balance exceeds the minimum, the excess will be applied to repaying the short-term notes payable balance.

· Dividends of $100,000 are to be declared and paid in February.

· No cash payments for income taxes are to be made during the first calendar quarter. Income taxes will be assessed at 35% in the quarter.

· Equipment purchases of $55,000 are scheduled for March.

ABC Company’s management is also considering 3 new projects consisting of the purchase of new equipment. The company has limited resources, and may not be able to complete make all 3 purchases. The information is as follows for the purchases below.

Project 1 Project 2 Project 3
Purchase Price $50,000 $75,000 $32,500
Required Rate of Return 12% 8% 10%
Time Period 3 years 5 years 2 years
Cash Flows – Year 1 $18,000 $25,000 $20,000
Cash Flows – Year 2 $22,000 $20,000 $18,000
Cash Flows – Year 3 $22,000 $18,000 N/A
Cash Flows – Year 4 N/A $16,500 N/A
Cash Flows – Year 5 N/A $15,000 N/A

 

Required Action:

Part A:

  • Prepare the year-end balance sheet for 2013. Be sure to use proper headings.
  • Prepare budgets such that the pro-forma financial statements may be prepared.
  • Sales budget, including budgeted sales for April.
  • Purchases budget, the budgeted cost of goods sold for each month and quarter, and the cost of the March 31 budgeted inventory.
  • Selling expense budget.
  • General and administrative expense budget.
  • Expected cash receipts from customers and the expected March 31 balance of accounts receivable.
  • Expected cash payments for purchases and the expected March 31 balance of accounts payable.
  • Cash budget.
  • Budgeted income statement.
  • Budgeted statement of retained earnings.
  • Budgeted balance sheet.

Part B:

  • Calculate using Excel formulas, the NPV of each of the 3 projects.
  • It is possible that ABC Company may not be able to complete all 3 projects. Therefore, advise ABC Company as to the order in which they should pursue the projects (i.e., which project should ABC Company attempt to do first, second, and last).
  • Provide justification and analysis as to why you chose the order you did. The analysis must also be done in Excel, not in a separate document.

This assignment must be submitted as 1 Excel document.

This assignment is due by 11:59 p.m. (ET) on Friday of Module/Week 8.

Sample Answer: 

Sales Budget

Sample Answer

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Financial Accounting Four Problems Assignment

Financial Accounting Four Problems Assignment in $14 only

Answer all 4 questions. Must provide a response in order to received partial credit.

Question 1:

During March, the following transactions were completed by ABC Inc., a new business started on March 1, 2015.

March

1 Sold 20,000 shares of $10 par value stock for $200,000 cash.

1 Purchased equipment for $36,000, paying $6,000 cash, charging the balance on account.

3 Purchased office supplies for $5,000 on account.

5 Paid $3,600 cash for 1-year insurance policy effective March 1. Use the account Prepaid Insurance to record this asset.

12 Billed customers $8,000 for professional services.

18 Paid $12,000 cash on amount owed on equipment and $3,000 on amount owed on office supplies.

20 Paid $7,000 cash for employee salaries.

21 Collected $4,000 cash from customers billed on March 12.

25 Billed customers $10,000 for professional services.

31 Paid $1,200 for the monthly utilities for the office.

31 Paid cash dividend of $.80 per share to shareholders

Questions on Operating and Financial Budget

Questions on Operating and Financial Budget in $15

E22-24 Preparing an operating budget

Dunbar Company manufactures drinking glasses. One unit is a package of 8 glasses, which sells for $20. Dunbar projects sales for April will be 3,000 packages, with sales increasing by 100 packages per month for May, June, and July. On April 1, Dunbar has 250 packages on hand but desires to maintain an ending inventory of 10% of the next month’s sales. Prepare a sales budget and a production budget for Dunbar for April, May, and June.

E22-27 Preparing a  budget

Cramer Company projects the following sales for the first three months of the year: $12,500 in January; $13,240 in February; and $14,600 in March. The company expects 70% of the sales to be cash and the remainder on account. Sales on account are collected 50% in the month of the sale and 50% in the following month. The Accounts Receivable account has a zero balance on January 1. Round to the nearest dollar.

ACC 300 Entire Course 2015

ACC 300 Entire Course 2015 

ACC300 Entire Course 2015

ACC/300 Complete Course 2015

Following files are available with the answer:

  1. Week 2 – Accounting Equation Paper (500 Words)
  2. Week 3 – P1-3A and P3-5A Solutions
  3. Week 3 – Accounting Terms Paper and P4-2A Solutions
  4. Week 4 – P2-6A and P13-2A Solutions
  5. Week 5 – Publicly Traded Corporation Paper
  6. Week 5 – PE-2, E7-5, E7-6 and E7-9 Solutions
  7. Week 5 Final Exam Answer Guide – 30 Questions

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Financial Accounting Exam 4

Financial Accounting Exam 4 in $8 only

1. Accounts receivable amounted to $215,000 at the beginning of the year and $245,000 at the end of the year. Income reported on the income statement for the year was $300,000. The cash flow from operating activities on the cash flow statement using the indirect method is

A. $315,000.

B. $270,000.

C. $300,000.

D. $330,000.

2. In a common-size income statement, selling expenses are 55%. This means that they’re 55% of…

Tulane University Houston Financial Accounting Final Exam (Summer 2015)

Tulane University Houston Financial Accounting Final Exam (Summer 2015) done June 2015 in $19

Presented below is the year-end 2005 balance sheet for The Little Corporation.

During 2006, the company entered into the following events:

1. Sales to customers totaled $2 million, of which $1.6 million were on credit and the remainder was cash sales. The cost of goods sold totaled $800,000.

2. Purchased $700,000 of inventory on credit.

3. Paid $620,000 cash to employees as wages. (This amount includes the wages payable at December 31, 2005.)

4. Collected $1.75 million cash from customers as payment on outstanding accounts receivable.

5. Paid $1.2 million cash to suppliers on outstanding accounts payable.

6. Sold machinery for $120,000 cash on January 1, 2006. The machinery had cost $370,000 and at the time of sale it had a net book value of $160,000.

7. Paid miscellaneous expenses totaling $98,000 cash.

8. Sold common stock for $450,000 cash.

9. Invested $200,000 of excess cash in short-term marketable securities.

10. Declared and paid a cash dividend of $100,000.

As part of the year-end audit, the internal audit staff identified the following additional information:

1. $180,000 of prepaid rent was consumed during the year.

2. The equipment had a useful life of ten years and the machinery of 20 years. The company uses straight-line depreciation. (No depreciation should be recorded for machinery in Item 6 above.)

3. The intangible assets had a remaining useful life of ten years.

4. Interest on the bank loan and bonds payable was ten percent. During the year, interest payments totaling $260,000 had been paid in cash.

Time Value of Money

Time Value of Money

Time Value of Money, Practical Applications in Business and Personal Decisions

If you have put money in a savings account, made monthly auto or mortgage payments, or paid down your student loan ahead of time you have inherently applied TVM.

  • Discuss how you may have used TVM in a recent investment or loan decision and explain some of the TVM details that may have been involved in your transaction.
  • If you have not used TVM in the past financial transactions explain potential TVM applications you would encounter in future business or personal transactions.

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Accounting Question

Foundations of Accounting I in $90 only

Accounting Project

David’s Entertainment is a merchandising business. Their account balances as of November 30, 2012 (unless otherwise indicated), are as follows:

110 Cash $ 73,920

112 Accounts Receivable 34,250

113 Allowance for Doubtful Accounts 11,000

115 Merchandise Inventory 123,900

116 Prepaid Insurance 3,750

117 Store Supplies 2,850

123 Store Equipment 100,800

124 Accumulated Depreciation-Store Equipment 20,160

210 Accounts Payable 21,450

211 Salaries Payable 0

218 Interest Payable 0

220 Note Payable (Due 2017) 15,000

310 D. Williams, Capital (January 1, 2012) 73,260

311 D. Williams, Drawing 50,000

312 Income Summary 0

410 Sales 853,445

411 Sales Returns and Allowances 20,020

412 Sales Discounts 13,200

510 Cost of Merchandise Sold 414,575

520 Sales Salaries Expense 74,400

521 Advertising Expense 18,000

522 Depreciation Expense 0

523 Store Supplies Expense 0

529 Miscellaneous Selling Expense 2,800

530 Office Salaries Expense 40,500

531 Rent Expense 18,600

532 Insurance Expense 0

533 Bad Debt Expense 0

539 Miscellaneous Administrative Expense 1,650

550 Interest Expense 1,100

ACC 423 FINAL EXAM

ACC 423 FINAL EXAM in $24 only

ACC 423

1) Proceeds from an issue of debt securities having stock warrants should NOT be allocated between debt and equity features when
A. the allocation would result in a discount on the debt security
B. the warrants issued with the debt securities are nondetachable
C. exercise of the warrants within the next few fiscal periods seems remote
D. the market value of the warrants is NOT readily available

2) The conversion of preferred stock may be recorded by the

A. market value method
B. par value method
C. book value method
D. incremental method

Full Course ACC 250 Entire Class (Weeks 1-9) – Individual Assignments, DQs, LTAs, Final Project

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