The document discusses various accounting topics including: 1) Accounts receivable entries that record the disposition of receivables when they are sold to a factor. The entries detail the cash received plus any service charges. 2) Bad debts are accounted for under the direct write-off method by recording an adjusting entry to bad debt expense to write off a specific customer's uncollectible balance. 3) Receivables are frequently classified as accounts receivable, notes receivable, and other receivables.

1. 1Reflection Summary Assignment
week 1 DQ 1
How would you describe the entries to record the disposition of accounts receivables?
What is their function?
Since the majority of US thrives on the use of credit cards, the accounts receivables for a
company may no longer be on a cash-to-cash basis. A company may need to sell these
accounts to other companies who specialize in handling accounts receivables if they need
cash more quickly or if it would be too costly to perform the necessary billing to collect on
the account.
The entries used to record the disposition when the receivables are sold to a factor often detail
the cash received plus the service charge.
week 1 DQ 2
How are bad debts accounted for under the direct write-off method?
What are the disadvantages of this method?
Week 2 - Chapter 08 Practice - Quiz 1
Question 1
Receivables are frequently classified as accounts receivable, notes receivable, and other receivables.
Receivables are frequently classified as:
accounts receivable and general receivables.
accounts receivable, notes receivable, and employee receivables.
accounts receivable, notes receivable, and other receivables.
accounts receivable, company receivables, and other receivables.
Week 2 - Chapter 10 Practice - Quiz 1
Question 1
The time period for classifying a liability as current is one year or the operating cycle, whichever is:

2. 2Reflection Summary Assignment
longer.
possible.
shorter.
probable.
Week 2 - Individual WileyPLUS Assignment
Exercise E8-3
The ledger of Hixson Company at the end of the current year shows Accounts Receivable $120,000,
Sales $840,000, and Sales Returns and Allowances $30,000.
Correct.
If Hixson uses the direct write-off method to account for uncollectible accounts, journalize the
adjusting entry at December 31, assuming Hixson determines that Fell's $1,400 balance is
uncollectible.
Date Account/Description Debit Credit
Dec. 31
Week 2 - Reflection Summary
Reflection Summary Assignment
Name
ACC 291 / Principles of Accounting II
Bad debts expense $1,400
A ccounts receivable-Fell $1,400

3. 3Reflection Summary Assignment
Date
Instructor Name
Identify the entries associated with acquisition, disposal, and sales of plant assets.
Recording of the acquisition of plant assets is important so the company can track their asset
and asset depreciation. The textbook explains the cost principle, “…requires that companies
record plant assets at cost." When the employee handling the accounting records the entry
they debit is applied to the asset and a credit to the corresponding account allocated.
week 2 DQ 1
What are the differences among valuation, depreciation, amortization, and depletion?
Is it appropriate to calculate depreciation using two different methods? Why?

4. 4Reflection Summary Assignment
What does the Annual Report you are using for class say about depreciation?
week 2 DQ 2
What types of industries have unearned revenue?
Why is unearned revenue considered a liability?
When is the unearned revenue recognized in the financial statements?
What does your Annual Report say about unearned revenue?
Week 3 - Chapter 12 Practice - Quiz 1
Question 1
Which of the following is not a primary reason why corporations invest in debt and equity securities?
They have excess cash.
They wish to move into a new line of business.
They are required to by law.
They wish to gain control of a competitor.
Question 2
Debt investments are initially recorded at:
cost.
cost plus accrued interest.
fair value.

5. 5Reflection Summary Assignment
None of the above.
Exercise E10-15
Correct.
Leoni Co. receives $240,000 when it issues a $240,000, 10%, mortgage note payable to finance the
construction of a building at December 31, 2011. The terms provide for semiannual installment
payments of $20,000 on June 30 and December 31.
Prepare the journal entries to record the mortgage loan and the first two installment payments. (For
multiple debit/credit entries, list amounts from largest to smallest e.g. 10, 5, 3, 2.)
Date Account/Description Debit Credit
2011
Dec. 31
Week 4 - Reflection Summary
Reflection Summary Assignment
Name
ACC 291 / Principles of Accounting II
Date
Instructor Name
Cash 240,000
Mortgage notes payable 240,000

6. 6Reflection Summary Assignment
Apply ratio, vertical, and horizontal analyses to financial statements
Ratio analyses are used by companies to gather information in a company’s financial
statement. Ratios and numbers from a company’s current year are compared to previous years
and sometimes even the economy to judge the company’s performance. There are several
ratios such as profitability ratios, liquidity ratios, activity ratios, leverage ratios and market
ratios that can be used to calculate financial information. In vertical analyses, each entry of
the assets, liabilities and equities in a balance sheet is represented as a proportion of the total
account of the financial statement. In horizontal analysis a company’s ratios are compared in
the financial statements over a period of time. Horizontal analysis can be used from revenues
to earnings per share.
Week 4 WileyPLUS Assignment Exercise 11-1 , E11-15, E11-16 Problem P11-6A And
P11-8A

7. 7Reflection Summary Assignment
Exercise Do It! 11-1
Indicate whether each of the following statements is true or false.
1. The corporation is an entity separate and distinct from its owners.
2.
The liability of stockholders is normally limited to their investment in the
corporation.
3.
The relative lack of government regulation is an advantage of the corporate form
of business.
Impact of Unethical Behavior Analysis
Name
ACC/291
Date
Instructor Name
True
True
False

8. 8Reflection Summary Assignment
Unethical practices and behavior in accounting may often go unchecked because the
actions may be the result of management or executives. Fear of negative reactions from
management or other peers may silence a person causing them to turn a “blind eye”.
Falsifying or altering business documents such as sales receipts, or tampering with reports
may lead to unethical practices.
Week 5 - Reflection Summary
Reflection Summary Assignment
Name
ACC 291 / Principles of Accounting II
Date
Instructor Name

9. 9Reflection Summary Assignment
Identify situations that might lead to unethical accounting practices.
Unethical accounting practices are considered as a type of unethical behavior. There are
certain
situations that might lead an accountant or CFO to perform unethical accounting practices.
There