ACC 225 Entire Course New

ACC 225 Complete Class Financial Accounting
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ACC 225 Week 1 CheckPoint Financial Statements
CheckPoint: Financial Statements
· Consider that you have been asked to explain
financial statements to someone who knows nothing
about accounting.
· Review the information on financial statements in
Ch. 1 of Fundamental Accounting Principles.
· Discuss, in 200-300 words, each of the four
financial statements. Explain the
different components of the statements as well as
what the statements tell about a business.
225-Week-1-CheckPoint-Financial-Statements

ACC 225 Week 1 DQ 1
Interview a friend or family member about his/her
work environment. Is his/her organization a sole
proprietorship, partnership, or corporation? Who is
involved with the accounting decisions and
information? In what ways is your friend or family
member affected by the accounting information?
225-Week-1-DQ-1

ACC 225 Week 1 DQ 2
Describe one of the four basic financial statements,
and answer the following questions:
1. For what is it typically used?
2. What information is the most valuable?
3. How does it complement another financial
statement?
225-Week-1-DQ-2

ACC 225 Week 1 Exercise Accounting and Business
Organizations
· Resource: Fundamental Accounting Principles, p.
30
· Post your answers to Exercises 1-1 and 1-4.
225-Week-1-Exercise-Accounting-and-Business-
Organizations

ACC 225 Week 2 CheckPoint Debits and Credits
· Resource: Fundamental Accounting Principles, p.
74
· Post your answers to Quick Study questions QS 2-
3, QS 2-4, and QS 2-5.
225-Week-2-CheckPoint-Debits-and-Credits

ACC 225 Week 2 Assignment Preparing Journal
Entries and Trial Balances
· Resource: Fundamental Accounting Principles, pp.
76 and 80
· Complete Exercises 2-4 and 2-5 on p. 76 and
Problem 2-2A on p. 80.
· Post your answers as an attachment.
225-Week-2-Assignment-Preparing-Journal-Entries-
and-Trial-Balances

ACC 225 Week 3 CheckPoint Adjustments and
Accrual and Cash Basis Accounting
116-118 and 120
·Complete Quick Study questions QS 3-1 and QS 3-
9 on pp. 116 and 117 and Exercises 3-1 and 3-7 on
pp. 118 and 120.
225-Week-3-CheckPoint-Adjustments-and-Accrual-
and-Cash-Basis-Accounting

ACC 225 Week 3 DQ 1
What is the difference between cash basis and
accrual basis accounting? Why do accrual-basis
financial statements provide more useful
information than cash basis financial statements?
Describe when each method (cash basis and accrual
basis accounting) would be appropriate to use.
225-Week-3-DQ-1

ACC 225 Week 3 DQ 2
The Ritz Manor is a popular seaside resort. A
double room costs $220 for one night. In order to
reserve a room, guests must pay one night’s stay in
advance. On each floor of the hotel, Vendalite
Company operates vending machines with energy
bars, juices, and other snacks for guests. Vendalite
stocks the machines and collects revenue every week.
Total average weekly revenue from these machines
is $720. The Ritz Manor is entitled to 30% of the
revenue from the machines. Vendalite sends a check
to the Ritz manor once at the end of each quarter for
the resort’s share of the revenue.
Based on this information, what type of adjusting
entries does the Ritz Manor have?
How are the amounts of these adjustments
determined?
Which accounts are affected?

225-Week-3-DQ-2

ACC 225 Week 4 CheckPoint Preparing Balance
Sheets and Statements
156 and 159
· Complete Quick Study question QS 4-2 on p. 156
and Exercises 4-4 and 4-5 on p. 159.
225-Week-4-CheckPoint-Preparing-Balance-Sheets-
and-Statements

ACC 225 Week 4 Assignment Preparing Entries and
Statements
· Complete Problems 4-5A and 4-6A. When
responding to the analysis component of 4- 5A, be
sure to think critically about the possible errors that
are described. In your answer, be sure to carefully
analyze the worksheet as if the errors were made
and present the evidence for your explanation.
Identify the consequences of the errors and describe
their impact on the financial statements. Explain
whether the error is likely to be discovered when
completing the worksheet.
225-Week-4-Assignment-Preparing-Entries-and-
Statements

ACC 225 Week 5 CheckPoint Inventory Systems
and Calculating Revenues, Expenses, and Income
206, 208, and 209.
· Complete Quick Study question QS 5-8 on p. 206
and Exercises 5-9 and 5-13 on pp. 208-209.
225-Week-5-CheckPoint-Inventory-Systems-and-
Calculating-Revenues-Expenses-and-Income

ACC 225 Week 5 DQ 1
BTN 5-3 Amy Martinez is a student who plans to
attend approximately four professional events
a year at her college. Each event necessitates a
financial outlay of $100–$200 for a new suit and
accessories. After incurring a major hit to her
savings for the first event, Amy developed a
different approach. She buys the suit on credit the
week before the event, wears it to the event, and
returns it the next week to the store for a full refund
on her charge card.
Required
1. Comment on the ethics exhibited by Amy and
possible consequences of her actions.
2. How does the merchandising company account for
the suits that Amy returns?
225-Week-5-DQ-1

ACC 225 Week 5 DQ 2
Find the financial statements of a service company
and of a merchandising company. What items
appear on the merchandising company statements
that don’t appear on the service company
statements? Why is there a difference?
225-Week-5-DQ-2

ACC 225 Week 6 Assignment Estimating Inventory
and Preparing Multiple-Step and Single-Step
Income
· Complete Problems 5-4A on p. 212, 6-1A on p. 251,
and 6-6B and 6-7B on p. 256.
· Post your answers as an attachment
225-Week-6-Assignment-Estimating-Inventory-and-
Preparing-Multiple-Step-and-Single-Step-Income

ACC 225 Week 6 CheckPoint Computing Inventory
Balances and Lower of Cost or Market
247-249
· Complete Quick Study question QS 6-1 on p.
247 and Exercises 6-1 and 6-5 on pp. 248 and
249.
225-Week-6-CheckPoint-Computing-Inventory-
Balances-and-Lower-of-Cost-or-Market

ACC 225 Week 7 CheckPoint Accounting
Information Systems and Special Journals
289, 290, and 291
·Complete Quick Study questions QS 7-1 and QS 7-
3 on p. 289, and Exercises 7-1, 7-4, 7-7, and 7-10 on
pp. 290-291.
225-Week-7-CheckPoint-Accounting-Information-
Systems-and-Special-Journals

ACC 225 Week 7 DQ 1
Megagrocer is a grocery chain that operates five
stores. The stores are supplied with produce, meat,
dairy, and dry goods by six separate vendors. In
addition to the stores, Megagrocer maintains an
ecommerce site through which customers can order
and pay for groceries. The groceries are packed and
delivered to customers from one of the five stores in
a Megagrocer van by that store’s personnel. Think
about the accounting information systems that
Megagrocer might use.
What types of source documents might be collected
by Megagrocer to be processed by its accounting
information systems?
Why are those documents important?
225-Week-7-DQ-1

ACC 225 Week 7 DQ 2
Choose a popular merchandise or service company.
How might the company use the accounting
information systems? In what ways do these systems
benefit the company? In what ways might the
systems be challenging for the company?
225-Week-7-DQ-2

ACC 225 Week 8 Assignment Internal Control and
Bank Reconciliations
338 and 339
· Complete Problems 8-1A, 8-3A, and 8-4A
(including the Analysis Component) on pp. 338-339.
When responding to the cases in 8-1A, be sure to
think critically about each case. Identify the
principles of internal control that has been violated,
and give an explanation of why you think that
principle has been violated. Identify the
consequences of the actions described in the cases.
Make a recommendation for what the
business should do to ensure adherence to principles
of internal control.
· Use the spreadsheet in Appendix B available on
aXcess to complete Problem 8-4A. Be sure to use the
tabs labeled SP08-04A and Given P08-04A

225-Week-8-Assignment-Internal-Control-and-
Bank-Reconciliations

ACC 225 Week 8 CheckPoint Internal Control and
Bank Reconciliations
335 and 336
· Complete Quick Study question QS 8-6 on p. 335,
and Exercises 8-3 and 8-4 on p. 336.
225-Week-8-CheckPoint-Internal-Control-and-
Bank-Reconciliations

ACC 225 Week 9 Capstone DQ
A major network is launching a reality program
called The Accountant. A group of recent accounting
graduates will be competing for a spot in a national
accounting firm. What would make someone a good
candidate for The Accountant? Describe three
challenges the candidates should complete on the
program, using as much detail as you can.
The challenges should test contestants’skill in
challenges related to topics covered in this course.
Be creative. Describe how the challenge will test the
contestant’s accounting skills as well as the skills the
contestant should have to complete each challenge
successfully.
225-Week-9-Capstone-DQ

ACC 225 Week 9 Final Project Comprehensive
Problem-Perpetual
· Resources: Appendix A, Fundamental Accounting
Principles, p. 301, and Appendix C
·Complete the Comprehensive Problem-Perpetual.
In this project, follow the steps of the accounting
cycle to process given transactions in a business
environment. Then, synthesize special journals, a
trial balance, financial statements, and a post-closing
trial balance.
· Use the spreadsheet in Appendix C available on
aXcess to complete the problems. Be sure to use the
tabs labeled P07C and Given P07C.
225-Week-9-Final-Project-Comprehensive-Problem-
Perpetual

ACC 225 Entire Course New

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