ACC 290 Week 2 Learning Team Reflection

ACC 290 Week 2 Learning Team Reflection in $15 OnlyACC 290 Week 2 Learning Team Reflection

Discuss the objectives for 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.

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ACC 290 Week 5 WileyPLUS Assignment Week Five

ACC 290 Week 5 WileyPLUS Assignment Week Five in $25 OnlyACC 290 Week 5 WileyPLUS Assignment Week Five

Resources: WileyPLUS and Financial Accounting

Access WileyPLUS using the link on the student website.

Complete the following in WileyPLUS:

Brief Exercise BE5–1

Brief Exercise BE5–2

Brief Exercise BE6-5

Brief Exercise BE6-7

Brief Exercise BE7-4

Brief Exercise BE7-6

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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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ACC 290 Week 5 WileyPLUS Assignment

ACC 290 Week 5 WileyPLUS Assignment

Brief Exercise BE5–1 

Presented here are the components in Korinek Company’s income statement. Determine the missing amounts.

Brief Exercise BE5–2

Prior Company buys merchandise on account from Wood Company. The selling price of the goods is $900 and the cost of goods is $630. Both companies use perpetual inventory systems. Journalize the transactions on the books of both companies.

Brief Exercise BE6-5

In its first month of operation, Maze Company purchased 100 units of inventory for $6, then 200 units for $7, and finally 150 units for $8. At the end of the month, 180 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO. The company uses the periodic method

ACC 290 Week 4 WileyPLUS Assignment

Linda Blye opened Cardinal Window Washing Inc. on July 1, 2010. During July the following transactions were completed

Journalize the July transactions. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)

July 1 Issued 13,514 shares of common stock for $13,514 cash.
July 1 Purchased used truck for $11,514, paying $2,123 cash and the balance on account.
July 3 Purchased cleaning supplies for $940 on account.
July 5 Paid $1,858 cash on 1-year insurance policy effective July 1.
July 12 Billed customers $3,258 for cleaning services.
July 18 Paid $1,159 cash on amount owed on truck and $509 on amount owed on cleaning supplies.
July 20 Paid $2,012 cash for employee salaries.
July 21 Collected $1,587 cash from customers billed on July 12.
July 25 Billed customers $2,524 for cleaning services.
July 31 Paid $372 for gas and oil used in the truck during month.
July 31 Declared and paid a $637 cash dividend

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ACC 290 Week 3 WileyPLUS Assignment

ACC 290 Week 3 WileyPLUS Assignment

Brief Exercise BE4-1

Transactions that affect earnings do not necessarily affect cash

Identify the effect, if any, that each of the following transactions would have upon cash and net income. The first transaction has been completed as an example. (If an amount has a decreasing effect use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45). Do not use a dollar sign $ for negative answers.)

Problem P4-2A

Nick Waege started his own consulting firm, Waegelein Consulting, on June 1, 2010. The trial balance at June 30 is as follows

Problem P4-3A

The Olathe Hotel opened for business on May 1, 2010.  Here is its trial balance before adjustment on May 31

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ACC 290 Week 2 WileyPLUS Assignment Week Two

ACC 290 Week 2 WileyPLUS Assignment Week Two

E3-4

A tabular analysis of the transactions made during August 2010 by Witten Company during its first month of operations is shown below. Each increase and decrease in stockholders’ equity is explained……..

E3-9

This information relates to Pickert Real Estate Agency.

Oct. 1 Stockholders invested $30,000 in exchange for common stock of the corporation

Oct. 2 Hires an administrative assistant at an annual salary of $42,000

Oct. 3 Buys office furniture for $4,600, on account

Oct. 6 Sells a house and lot for M.E. Petty; commissions due from Petty, $10,800 (not paid by Petty at this time)

Oct. 10 Receives cash of $140 as commission for acting as rental agent renting an apartment

Oct. 27 Pays $700 on account for the office furniture purchased on October 3

Oct. 30 Pays the administrative assistant $3,500 in salary for October

Post the transactions to T-accounts and complete the following trial balance. (If answer is zero, please enter 0, do not leave any fields blank.)