This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2, is an opportunity to show the ability to analyze financial statements to arrive at conclusions based upon the analysis.
¬For more classes visits
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This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2,
¬For more classes visits
www.snaptutorial.com
This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2,
¬For more classes visits
www.snaptutorial.com
This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2, is an opportunity to show the ability to analyze financial statements to arrive at conclusions
Acct 212 Effective Communication / snaptutorial.comBaileyab
¬For more classes visits
www.snaptutorial.com
This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2, is an opportunity to show the ability to analyze financial statements to arrive at conclusions based upon the analysis.
Course Project 1 - Overview and Guidelines | Course Project
For more course tutorials visit
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This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2,
This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2, is an opportunity to show the ability to analyze financial statements to arrive at conclusions based upon the analysis.
¬For more classes visits
www.snaptutorial.com
This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2,
¬For more classes visits
www.snaptutorial.com
This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2,
¬For more classes visits
www.snaptutorial.com
This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2, is an opportunity to show the ability to analyze financial statements to arrive at conclusions
Acct 212 Effective Communication / snaptutorial.comBaileyab
¬For more classes visits
www.snaptutorial.com
This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2, is an opportunity to show the ability to analyze financial statements to arrive at conclusions based upon the analysis.
Course Project 1 - Overview and Guidelines | Course Project
For more course tutorials visit
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This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2,
Taiwan Mobile Co., Ltd. and Subsidiaries Consolidated Financial Statements fo...Mr Nyak
Taiwan Mobile Co., Ltd. and Subsidiaries
Consolidated Financial Statements for the
Years Ended December 31, 2012 and 2011, and
Independent Auditors’ Report
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This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2, is an opportunity to show the ability to analyze financial statements to arrive at
ACCT 212 Effective Communication - tutorialrank.comBartholomew5
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Tutorial Purchased: 5 Times, Rating: A+
This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2, is an opportunity to show the ability to analyze
For more course tutorials visit
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Tutorial Purchased: 5 Times, Rating: A+
This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2, is an opportunity to show the ability to analyze financial statements to arrive at conclusions based upon the analysis.
Course Project 1 - Overview and Guidelines | Course Project 2 -
Taiwan Mobile Co., Ltd. and Subsidiaries Consolidated Financial Statements fo...Mr Nyak
Taiwan Mobile Co., Ltd. and Subsidiaries
Consolidated Financial Statements for the
Years Ended December 31, 2012 and 2011, and
Independent Auditors’ Report
¬For more classes visits
www.snaptutorial.com
This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2, is an opportunity to show the ability to analyze financial statements to arrive at
ACCT 212 Effective Communication - tutorialrank.comBartholomew5
For more course tutorials visit
www.tutorialrank.com
Tutorial Purchased: 5 Times, Rating: A+
This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2, is an opportunity to show the ability to analyze
For more course tutorials visit
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Tutorial Purchased: 5 Times, Rating: A+
This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2, is an opportunity to show the ability to analyze financial statements to arrive at conclusions based upon the analysis.
Course Project 1 - Overview and Guidelines | Course Project 2 -
MenuACCT 212: Course ProjectRequirementRequirement DescriptionWorksheet Name1Prepare the Journal Entries in the General Journal1 - Journal Entries2Post Journal Entries to the General Ledger2 - General Ledger3Prepare a Trial Balance3 - Trial Balance4Prepare the Adjusting Entries4 &5 - Adjusting Entries5Post Adjusting Entries to the General Ledger4 &5 -Adjusting Entries ( Use worksheet #2)6Prepare an Adjusted Trial Balance6- Adjusted TB7Prepare the Financial Statements7 - Financial Statements8Prepare the Closing Entries8&9 - Closing Entries ( use worksheet #2)9Post Closing Entries to the General Ledger8&9- General Ledger10Prepare the Post Closing Trial Balance10 - Post Closing Trial Balance11Compute Ratios11-Ratios12Interpret the Ratios12-Interpretation of Ratios
Project InstructionsCourse Project OverviewThe Course Project consists of 10 Requirements for you to complete. The Course Project is due at the end of Week 6. See the Syllabus section ”Due Dates for Assignments & Exams” for due date information. All of the information you need to complete the Course Project is located in this Workbook.
• There are eight worksheets in the workbook you will need to complete.
• A list of March transactions
• A Chart of Accounts reference sheet
• A Grading Rubric to help explain what is expected.
• Each worksheet has the Check Figures embedded as a comment.
ScenarioYou’ve just secured a new client in your accounting practice, Bethany's Bicycle Corporation (BBC), a brand new small business specializing in bicycle repair. The owner, Bethany Beck, is a terrific cyclist and bike repair specialist, but definitely not an accountant. Your job is to helpBethany put his affairs in order. Luckily Bethany has only been in operation for a month and things have not gotten too out of hand yet! Bethany has to submit his financial statements to her investors and doesn’t know where to begin. It’s your job to go through the complete Accounting cycle to prepare the financial statements for the BBC.RequirementsGuidelinesUse the embedded assistance in the template, guidance in your textbook, and examples in the weekly lectures to complete this project. Should you have any questions contact your professor.Milestone 1 is due in Week 4 - This includes project requirements 1-3.Milestone 2 is due in Week 6 - This includes project requirements 4-10.
Before You Begin:
Review the Week 2 Lecture prior to starting work on this project.
Print the Chart of Accounts and October Transactions worksheets for your reference. You will need to refer to both throughout the project.
Review the Grading Criteria.
SAVE your work frequently in this workbook.
March TransactionsDuring its first month of operation, the Bethany's Bicycle Corporation, which specializes in bicycle repairs, completed the following transactions.March TransactionsDateTransaction DescriptionMarch 1Began business by making a deposit in a company bank account of $20,000, in exchange for 2,000 shares of $10 par value.
Task 1For now, you are required to choose a suitable topic for .docxmattinsonjanel
Task 1:
For now, you are required to choose a suitable topic for your project. You can choose your topic from real events or situations at your current workplace. You can even have an imaginary situation. Some examples of projects are:
· IT maintenance projects such as upgrading hardware or software.
· IT development projects such as building a new software or application.
· IT infrastructure projects such as installing an office network with access controls.
· Construction projects such as buildings, roads or mobile towers.
· Manufacturing projects such as setting up new production capabilities.
· Business projects such as incorporating a company or running a marketing campaign.
After selecting a topic, prepare a professional document with project information in the following sections:
1. Introduction – Describe the organization and provide any relevant background information for the project. State in no more than two sentences what the project is about.
1. Business Objective – Connect the purpose of the project to the strategic objectives of the business.
1. Opportunity – Explain the current situation. Outline the challenges the project is meant to solve and how it will solve them.
1. Preliminary Project Requirements – List the features and facilities the project should have.
1. Potential Risks – Analyze the risks involved in undertaking this project.
Your work should be submitted in a Word document, 2–3 pages in length, typed in double-space, in 10- or 12-point Arial or Times New Roman font. The page margins on the top, bottom, left side, and right side should be 1 inch each. You should use the APA guidelines for writing and citations.
Task 2:
Use the template provided in textbook Chapter 3, Table 3-6 (Page 98) to create a project charter for the topic you have chosen (see attached table).
Your work should be submitted in a Word document, 2–3 pages in length, typed in double-space, in 10- or 12-point Arial or Times New Roman font. The page margins on the top, bottom, left side, and right side should be 1 inch each. You should use the APA guidelines for writing and citations.
Task 3:
A project scope statement is a document that specifies the requirements. It defines the features and functions that are to be implemented in the project. It also describes any specific processes that must be used in the project. A project scope statement includes detailed characteristics, deliverables and success criteria.
Use the template provided in textbook Chapter 3, Table 3-9 (Pages 105-106) to create a project scope statement for the topic you have chosen.
Your work should be submitted in a Word document, 2-3 pages in length, typed in double-space, in 10- or 12-point Arial or Times New Roman font. The page margins on the top, bottom, left side, and right side should be 1 inch each. You should use the APA guidelines for writing and citations.
Task 4:
You need to submit the term project you had selected in Module 1. The purpose of the project is t ...
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Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
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Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
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Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
2. ACCT 212 Week 5 DQ 1 Non-current Assets and Related
Liabilities
ACCT 212 Week 5 DQ 2 Raising Capital (Cash)
ACCT 212 Week 6 DQ 1 Stockholders Equity
ACCT 212 Week 6 DQ 2 Net Income vs. Net Operating
Cash
ACCT 212 Week 7 DQ 1 Financial Statement Analysis
ACCT 212 Week 7 DQ 2
This course has two course projects due. The first, Course
Project 1, reinforces the basic principles of accounting and
application of the accounting information system. It is
completed in two parts. The second, Course Project 2, is an
opportunity to show the ability to analyze financial
statements to arrive at conclusions based upon the analysis.
Course Project 1 – Overview and Guidelines | Course
Project 2 – Overview and Guidelines
Course Project 1 – Overview and Guidelines
Course Project 1 consists of two parts, A and B, respectively.
There are 10 requirements for you to complete in this
exercise, Part A has 1-3 and Part B has 4-10. Part A is due at
the end of Week 3. Part B is due at the end of Week 5. See
Syllabus/”Due Dates for Assignments & Exams” for due date
information.
3. The Course Project 1 template has all of the information you
will need to complete Parts A & B of the project. The
template also includes:
Detailed Project Instructions (with requirements) A
reference list of October transactions A Chart of Accounts
reference sheet A Grading Rubric to help explain what is
expected. Each worksheet has the Check Figures embedded
as a comment.
1. Download the Excel template named
ACCT212_CourseProject1 located on the Doc Sharing tab
in the course shell.
2. To complete Part A (due at the end of Week 3):
Complete Requirements 1-3 on the Journal Entries, General
Ledger, and Trial Balance worksheets. Type your work
directly into the worksheets. Save your workbook as
“CourseProject1A_ ACCT212_YourLastName”. Submit your
workbook to the Dropbox under “Course Project 1-Part A”
by the end of Week 3. Submit your assignment to the
Dropbox located on the silver tab at the top of this page. For
instructions on how to use theDropbox, read these Step-by-
Step Instructions or watch this Dropbox Tutorial.
3. To complete Part B (due at the end of Week 5):
Using feedback from your instructor and the worksheets
from Part A, complete requirements 4-10. Type your work
directly into the worksheets. Save your workbook as
“CourseProject1B_ACCT212_YourLastName”. Submit the
workbook to the Dropbox under “Course Project 1-Part B”
by the end of Week 5. Submit your assignment to the
Dropbox located on the silver tab at the top of this page. For
4. instructions on how to use theDropbox, read these Step-by-
Step Instructions or watch this Dropbox Tutorial.
Course Project 2 – Overview and Guidelines
Course Project 2 consists of Problem 13-52A from your
textbook. At the end of Course Project 2, you will be able to
prepare common-size statements, analyze profitability; and
make comparisons with the industry. Course Project 2 is due
at the end of Week 7.
The Course Project 2 template has all of the information you
will need to complete the project including:
Detailed requirements A worksheet to enter your solutions
A Grading Rubric to help explain what is expected.
1. Download the Excel template named
ACCT212_CourseProject2 located on the Doc Sharing tab
in the course shell.
2. To complete Course Project 2 (due at the end of Week
7):
Using the requirements worksheet for reference, complete
requirements 1-3 on the Your Solution worksheet. Type
your work directly into the worksheet. Save your workbook
as “CourseProject2_ACCT212_YourLastName”. Submit your
workbook to the Dropbox under “Course Project 2” by the
end of Week 7. Submit your assignment to the Dropbox
located on the silver tab at the top of this page. For
instructions on how to use theDropbox, read these Step-by-
Step Instructions or watch this Dropbox Tutorial
ACCT-212 Week 4 Midterm
5. (TCO 1) The Accounting Equation is used to develop the
organizations financial reports. (1) Describe what owners’
equity values would be if Assets are $100,000 and Liabilities
are $27,000 by showing the Accounting Equation (10 points)
and (2) provide an explanation of what accounts could be
found in owners’ equity. (10 points)
(TCO 1) The financial statements present a company to the
public in financial terms. (1) Which financial statement
identifies where cash was generated and where it was spent
during the year (10 points) and (2) identify the three major
parts of this statement. (10 points)
(TCO 1) The accounting profession follows a set of
guidelines for measurement and disclosure of financial
information called the Generally Accepted Accounting
Principles (GAAP). (1) Explain what the International
Financial Reporting Standards (IFRS) are (10 points) and
(2) provide an example of its application. (10 points)
(TCO 2) Transaction analysis results in the development of
a journal entry. Supplies are purchased on account agreeing
to pay $500 within 30 days. (1) Name the accounts
impacted and how using the format account name/debit or
credit/dollar amount (10 points) and (2) explain how the
Accounting Equation is impacted. (10 points)
6. (TCO 3) Adjusting Entries are required at the end of the
period to ensure that accrual accounting principles are
applied. At the beginning of the month $1,350 of office
supplies were purchased. There was not a beginning
balance and the one purchase was the only one for the
month. At the end of the month $500 of supplies remained.
Develop the adjusting entry. (1) Name the accounts
impacted and how using the format account name/debit or
credit/dollar amount (10 points) and (2) explain how the
Accounting Equation is impacted. (10 points)
(TCO 5) Internal Controls are required to safeguard assets
and to ensure ethical business practices. (1) Identify and
explain the reason for any two of the seven internal control
procedures (10 points) and (2) provide examples of how
your two selected internal control procedures will meet
the goal of safeguarding assets and promoting ethical
business practices. (15 points)
(TCO 5) The bank account as a control device helps to
protect cash. One of the requirements is to conduct
periodic bank statement reconciliations. Using the
following data, complete the bank statement
reconciliation. (Use the format shown on page 255 of your
textbook) (25 points)
7. Prepare a bank reconciliation using B & B’s Restaurant
Supply Inc.’s information for August 31.
· A NSF check from Johnny Jones for $3,164.·Two deposits
made on August 31 were not on the bank statement,
totaling $2,897.·The bank collected an EFT payment for
Rent for $2,600.·August 31 balance in Cash was
$2,005.·The owner had written check # 1598 for $500 and
recorded this check as $5,000.·The balance on the bank
statement as of August 31 was $5,316.·Bank service
charge of $28 was shown on the bank statement.·Checks
#1572, 1606, 1116, and 1242 for $419, $126, $650, and
$1,105, respectively, were not shown on the bank
statement, even though the company had sent the checks.
ACCT 212 Final Exam
1. (TCO 3) At the end of the period it is necessary to close
all temporary accounts. (1) Explain why this process is
required (10 points) and (2) provide an example of the
closing of an expense account, Salary Expense in the form
of a journal entry. (10 points) (Points : 20)
2. (TCO 2) As required to complete Course Project 1, one
must follow the cycle that includes 10 steps to complete
the accounting cycle. (1) Explain how the debit/credit
8. rules are used when developing journal entries (10
points) and (2) provide an example of the application of
the debit/credit rules in the form of a journal entry. (10
points)(Points : 20)
3. (TCO 5) Internal Control Procedures are required to
safeguard company assets and to ensure ethical operation
of the business. (1) Explain how limited access can satisfy
the purpose of internal control (10 points) and (2)
provide an example of how this control could be
implemented. (10 points) (Points : 20)
4. (TCO 4) Inventory valuation methods determine the
cost of goods sold and the inventory balance. (1) Explain
how the First in First out (FIFO) method is applied (10
points) and (2) provide an example of the impact that this
method of inventory valuation will have on Gross Profit.
(10 points) (Points : 20)
5. (TCO 1) To evaluate the financial operation and health
of a business ratio analysis is used. (1) Provide the
formula for the Current Ratio and explain how it is
computed (10 points) and (2) provide an example of how
this ratio can be used in decision-making in business. (10
points) (Points : 20)
6. (TCO 6) BagODonuts Company bought a used delivery
truck on January 1, 2010, for $19,200. The van was
expected to remain in service 4 years (30,000 miles).
BagODonuts’ accountant estimated that the truck’s
residual value would be $2,400 at the end of its useful life.
The truck traveled 8,000 miles the first year, 8,500 miles
the second year, 5,500 miles the third year, and 8,000
miles in the fourth year.
9. 1. Calculate depreciation expense for the truck for each
year (2010-2013) using the:
a. Straight-line method.
b. Double-declining balance method.
c. Units of Production method.
(For units-of-production and double-declining balance,
round to the nearest two decimals after each step of the
calculation.)
2. Which method best tracks the wear and tear on the van?
3. Which method would BagODonuts prefer to use for
income tax purposes? Explain in detail why BagODonuts
prefers this method. (Points : 25)
7. (TCO 7) ABC Inc. was incorporated on 1/15/12. Their
corporate charter authorized the following capital stock:
Preferred Stock: 7%, par value $100 per share, 100,000
shares. Common Stock: $1 par value, 500,000 shares.
The following transactions occurred during the year:
1/19/12 – Issued 100,000 shares of common stock for
$17 cash per share.
1/31/12 – Issued 3,000 shares of preferred stock for $115
cash per share.
11/1/12 – Repurchased 30,000 shares of common stock
for $22 cash per share.
12/1/12 – Declared and paid a total dividend of $95,000.
Required:
1. Prepare the journal entry for each transaction listed
above.
2. In your own words, explain the main differences
10. between common and preferred stock.
(Points : 25)
8. (TCO 5) Fraud is an intentional misrepresentation of
facts, made for the purpose of persuading another party to
act in a way that causes injury or damage to that party. In
our readings and discussions we have seen several
examples of fraud in business. Using that experience (1)
provide an example of a common fraudulent practice in
business with an explanation of how the practice works
and (2) name and describe each of the elements of the
Fraud Triangle.
9. (TCO 5) Internal Control Procedures are in place to
protect the assets of every business as mentioned in the
textbook and our discussions. Of the seven internal
control procedures, list five of these controls and describe
how each procedure is implemented (Points : 25)
10. (TCO2) Below are the accounts of Super Pool Service,
Inc. The accounts have normal balances on June 30, 2012.
The accounts are listed in no particular order.
Account Balance
Common stock $5,100
Accounts payable $4,400
Service revenue $17,100
Land $28,800
Note payable $9,500
Cash $5,200
Dividends $6,100
Utilities expense $2,100
Accounts receivable $10,600
Delivery expense $700
11. Retained earnings $25,600
Salary expense $8,200
Prepare the company’s trial balance as of June 30, 2012,
listing accounts in proper sequence, as illustrated in the
chapter. For example, Accounts Receivable comes before
Land. List the expense with the largest balance first, the
expense with the next largest balance second, and so on.
(Points : 25)
6.
(TCO4) Linda’s Lampshades started business on Jan. 1, 2001.
They had the following inventory transactions:
Journals – Jan. 2001
Purchases
Supplier Date Received Quantity Unit Cost Amount
Donna 01/10/01 110 12.00 1320.00
Thomas 01/15/01 160 14.00 2240.00
Cindy 01/18/01 150 15.00 2250.00
Sales
Customer Date shipped Quantity Sel. Price Amount
Norilene 01/16/01 200 25.00 5000.00
1. Calculate the ending inventory, using the perpetual
inventory method:
12. A. Using FIFO
B. Using LIFO
1. Using Average Cost
2. Prepare the following statement
Using
FIFO LIFO Average Cost
Sales
Cost of Sales
Gross Profit
(Points : 25)
1. Depreciation is a process to allocate the cost of long-life
assets to each period’s income statement and adjusts the
value of the asset on the balance sheet. (1) Explain how
the Units-of-Production method is computed (10 points)
and (2) provide an example of how this method could be
used on a new delivery truck purchased for $25,000 to be
used for 100,000 miles with a salvage value of $5,000 for
year one only (25,000 miles driven in year one)