1. Week 1 – DQ 1
Week One - DQ #1 What are the four basic financial statements? What is the primary purpose of each
of the four basic financial statements? In your opinion, which financial statement is the most
important? Explain why. How would the financial statements be useful to managers and employees?
How would the financial statements be useful to investors and creditors?
get the solution: http://entirecourse.com/course/ACC-290-Principles-of-Accounting-I-new/ACC290-
week-1-DQ-1
Week 1 – DQ 2
What are debits and credits? How are debits and credits used to record business transactions? Why do
accountants debit asset accounts to increase them but credit liability accounts to increase them? Why do
accountants debit expenses to increase them but credit revenues to increase them?
get the solution: http://entirecourse.com/course/ACC-290-Principles-of-Accounting-I-new/ACC290-
week-1-DQ-2
Week 2 – DQ 1
What is the revenue recognition principle? What is the expense recognition principle? Why are they
important to financial reporting?
What are adjusting entries and why are they necessary?
What are accruals? Provide examples of accruals. Why do accruals require adjusting entries?
What are deferrals? What are some examples of deferrals? Why do deferrals require adjusting entries?
get the solution: http://entirecourse.com/course/ACC-290-Principles-of-Accounting-I-new/ACC290-
week-2-DQ-1
Week 2 – DQ 2
What accounts are subject to adjusting journal entries and why?
How would you explain the purpose of the adjusted trial balance?
get the solution: http://entirecourse.com/course/ACC-290-Principles-of-Accounting-I-new/ACC290-
week-2-DQ-2
Week 2 LT Reflection Summary
http://entirecourse.com/course/ACC-290-Principles-of-Accounting-I-new/ACC290-Week-2-LT-Reflection-
Summary
Week 3 – DQ 1
What are the steps in completing the accounting cycle? How do the different steps affect the financial
statements? What is the effect on the financial statements of missing a step when completing the
accounting cycle? What are the four closing journal entries? Why are they necessary? What are
reversing entries? Why are they used? What are the pros and cons of using reversing entries? Why are
reversing entries optional?
get the solution: http://entirecourse.com/course/ACC-290-Principles-of-Accounting-I-new/ACC290-
week-3-DQ-1
Week 3 – DQ 2
What are the pros and cons of using reversing entries? Why are reversing entries optional? What is the
main purpose of a financial statement worksheet and its benefits? How has automation aided the
preparation, accuracy, and use of the financial statement worksheet?
get the solution: http://entirecourse.com/course/ACC-290-Principles-of-Accounting-I-new/ACC290-
week-3-DQ-2

2. Week 3 Individual WileyPLUS Assignment Week Three - Exercise BE4-1, Problem P4-2A and P4-3A
http://entirecourse.com/course/ACC-290-Principles-of-Accounting-I-new/ACC290-Week-3-Individual-
WileyPLUS-Assignment-Week-Three
Week 4 – DQ 1
How would you calculate cost of goods sold? What items make up cost of goods sold? How does
beginning and ending inventory affect cost of goods sold? What are the journal entries a merchandising
organization would use to record the purchase and subsequent sale of merchandise? How would these
transactions differ with a periodic versus a perpetual inventory system? Why are perpetual inventory
systems so much more popular today than back in the early 1960s and earlier? Why would a company
employing a perpetual inventory system still take a physical inventory periodically?
get the solution: http://entirecourse.com/course/ACC-290-Principles-of-Accounting-I-new/ACC290-
week-4-DQ-1
Week 4 – DQ 2
What are the three different inventory cost flow assumptions commonly used in commerce today and
allowed by generally accepted accounting principles? How does a company determine what cost flow
assumption they should use? How does first in, first out cost flow assumption work? When it is most
appropriate to use? How does last in, first out cost flow assumption work? When it is most appropriate
to use? How does an average cost flow assumption work? When it is most appropriate to use?
get the solution: http://entirecourse.com/course/ACC-290-Principles-of-Accounting-I-new/ACC290-
week-4-DQ-2
Week 4 Individual WileyPLUS Assignment Week Four - Problem 4-8A
http://entirecourse.com/course/ACC-290-Principles-of-Accounting-I-new/ACC290-Week-4-Individual-
WileyPLUS-Assignment-Week-Four-Problem-4-8A
Week 4 Learning Team Financial Reporting Problem, Part 1
http://entirecourse.com/course/ACC-290-Principles-of-Accounting-I-new/ACC290-Week-4-Learning-
Team-Financial-Reporting-Problem-Part-1
Week 4 LT Reflection Summary
http://entirecourse.com/course/ACC-290-Principles-of-Accounting-I-new/ACC290-Week-4-LT-Reflection-
Summary
Week 5 Learning Team Weekly Reflection
http://entirecourse.com/course/ACC-290-Principles-of-Accounting-I-new/ACC290-Week-5-Learning-
Team-Weekly-Reflection
Week 5 – DQ 1
What is the control environment? How does the control environment affect a company’s internal
controls? What are the negative and positive elements of a control environment? What are two
examples of strong and weak internal controls in organizations where you have worked or have first-hand
knowledge? How are these different? How would you describe the key internal controls that
should be in place to protect cash in a cash rich environment such as a merchandiser? What are the key
internal controls that should be in place to protect inventory for a merchandiser that sells highly
desirable and very expensive inventory, such as jewelry? Would this be different if the business had a
less desirable and less expensive inventory? Explain why or why not.
get the solution: http://entirecourse.com/course/ACC-290-Principles-of-Accounting-I-new/ACC290-
week-5-DQ-1

3. week 5 Financial Reporting part II
http://entirecourse.com/course/ACC-290-Principles-of-Accounting-I-new/ACC290-Week-5--Learning-
Team-Financial-Reporting-Problem-Part-2
Week 5 Individual WileyPLUS Assignment
http://entirecourse.com/course/ACC-290-Principles-of-Accounting-I-new/ACC290-Week-5-Individual-
WileyPLUS-Assignment