ACCT 212 (Devry) Flashcards
ACCT 212 Course Project
(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)
http://www.homeworktab.com/acct-212/acct-212-course-project
ACCT 212 Entire Course With Final
ACCT 212 Week 1 DQ 1 Financial Statements
ACCT 212 Week 1 DQ 2 Prepaid Expenses vs. Unearned Revenue
ACCT 212 Week 2 DQ 1 Accrual vs. Cash Accounting
ACCT 212 Week 2 DQ 2
ACCT 212 Week 3 DQ 1 Ethical Business Decisions
ACCT 212 Week 3 DQ 2 Trade Credit – Accounts Payable
ACCT 212 Week 4 DQ 1 Inventory Management
ACCT 212 Week 4 DQ 2 LIFO
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
http://www.homeworktab.com/acct-212/acct-212-complete-class
ACCT 212 Final Exam
(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)
(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 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)
(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)
(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)
http://www.homeworktab.com/acct-212/acct-212-final-exam
ACCT 212 Week 1 to 7 All Discussion Questions
Week 1 DQ 1 Financial Statements
Week 1 DQ 2 Prepaid Expenses vs. Unearned Revenue
Week 2 DQ 1 Accrual vs. Cash Accounting
Week 2 DQ 2
Week 3 DQ 1 Ethical Business Decisions
Week 3 DQ 2 Trade Credit - Accounts Payable
Week 4 DQ 1 Inventory Management
Week 4 DQ 2 LIFO
Week 5 DQ 1 Non-current Assets and Related Liabilities
Week 5 DQ 2 Raising Capital (Cash)
Week 6 DQ 1 Stockholders Equity
Week 6 DQ 2 Net Income vs. Net Operating Cash
Week 7 DQ 1 Financial Statement Analysis
http://www.homeworktab.com/acct-212/acct-212-week-1-to-7-all-discussion-questions
ACCT 212 Week 4 Midterm
ACCT 212 Week 4 Midterm
http://www.homeworktab.com/acct-212/acct-212-week-4-midterm
