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ACC 290 Entire Course

ACC 290 Entire Course

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Published by: acc290 on Aug 29, 2012
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ACC 290 Entire Course: Phoenix University:New Updated Course
ACC 290 Week 1 Assignment FinancialStatements Paper
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 andemployees.Discuss how the financial statements would be useful to external users such as investors andcreditors.
the paper consistent with APA guidelines.
Week 1 DQ1What are the four basic financial statements? What do the different financial statements tellyou about a company? Which financial statement is the most useful? Why? How domanagers in your organization use information presented in financial statements?Week 1 DQ2In the article “The Seven Deadly Myths of Accounting”http://www.csun.edu/~hfact004/7myths.htm, there is a list of common misconceptionsrelated to accounting. Please review the article and tell the group which one you feel is mostrepresentative of your initial thoughts of accounting and why.Week 1 DQ3
What do you think of when you hear the word debit? What do you think of when you hearthe word credit? Why does your bank statement show a credit for an increase in your cashbalance? Why are T accounts such a valuable tool for analyzing accounting transactions?Week 1 DQ4Describe the general journal. What is the purpose of journalizing transactions?Week 1 DQ5What are debits and credits? How are debits and credits used to record businesstransactions? Why do accountants debit asset accounts to increase them but credit liabilityaccounts to increase them? Why do accountants debit expenses to increase them but creditrevenues to increase them?
ACC 290 Week 2 WileyPLUS Assignment Week Two
A tabular analysis of the transactions made during August 2010 by Witten Company during its firstmonth of operations is shown below. Each increase and decrease in stockholders' equity isexplainedso on...
This information relates to Pickert Real Estate Agency.Oct. 1 Stockholders invested $30,000 in exchange for common stock of the corporationOct. 2 Hires an administrative assistant at an annual salary of $42,000Oct. 3 Buys office furniture for $4,600, on accountOct. 6 Sells a house and lot for M.E. Petty; commissions due from Petty, $10,800 (not paid byPetty at this time)Oct. 10 Receives cash of $140 as commission for acting as rental agent renting an apartmentOct. 27 Pays $700 on account for the office furniture purchased on October 3Oct. 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.)
Sunflower Architects incorporated as licensed architects on April 1, 2010. During the first monthof the operation of the business, these events and transactions occurred:Apr. 1 Stockholders invested $15,000 cash in exchange for common stock of the corporation.1 Hired a secretary-receptionist at a salary of $375 per week, payable monthly.2 Paid office rent for the month $900.3 Purchased architectural supplies on account from Spring Green Company $1,000.10 Completed blueprints on a carport and billed client $1,500 for services.11 Received $500 cash advance from J. Madison to design a new home.20 Received $2,300 cash for services completed and delivered to M. Svetlana.30 Paid secretary-receptionist for the month $1,500.30 Paid $300 to Spring Green Company for accounts payable due.The company uses these accounts: Cash, Accounts Receivable, Supplies, Accounts Payable,Unearned Revenue, Common Stock, Service Revenue, Salaries Expense, and Rent Expense. Hint:Journalize transactions, post, and prepare a trial balance. (SO 3, 5, 6, 7, 8) Instructions (a)Journalize the transactions, including explanations. (b) Post to the ledger T accounts. (c) Prepare atrial balance on April 30, 2010. Cash $15,100 Tot. trial balance $20,000
 This is the trial balance of Slocombe Company on September 30so on...
ACC 290 Week 2 Learning Team Reflection
the objectives for Week One. How do they relate to the practice of accounting and its usesin business?Identify the four basic financial statements.Classify transactions using the rules of debit and credit.Journalize basic transactions.

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