ACC 205

Satisfactory Essays
ACC 205 WEEK 3 COMPLETE WORK to purchase this, visit here http://www.coursehomework.com/product/acc-205-week-3-complete-work/ ACC 205 WEEK 3 COMPLETE WORK
ASSIGNMENT:
ACC 205 Week Three Exercise Solution
1. Specific identification method:
2. Inventory valuation methods:
3. Perpetual inventory system:
4. Inventory valuation methods:
5. Depreciation methods:
6. Depreciation computations:
7. Depreciation computations:
ACC205_Week_Three_Exercise_Assignment:
Inventory
1. Specific identification method.
2. Inventory valuation methods: basic computations.
3. 3. 3. Perpetual inventory system: journal entries
4. 4. 4. Inventory valuation methods: computations and concepts
5. 5. 5. Depreciation methods.
6. 6. 6. Depreciation computations.
7. 7. 7. Depreciation computations: change in estimate. Acc 205 Week 3_DQs and Journal
Week 3 DQ 1
1. The controller of Sagehen Enterprises believes that the company should switch from the LIFO method to the FIFO method. The controllers bonus is based on the next income. It is the controllers belief that the switch in inventory methods would increase the net income of the company. What are the differences between the LIFO and FIFO methods?
Week 3 DQ 2
2. A variety of depreciation methods are used to allocate the cost of an asset to all of the accounting periods benefited by the use of the asset. Your client has just purchased a piece of equipment for $100,000. Explain the concept of depreciation. Which of the following depreciation methods would you recommend: straight-line depreciation, double declining balance method, or an alternative method? Inventory Journal
Reflect for a moment on the LIFO (Last in First Out) and FIFO (First in First Out) inventory methods. If you were starting a small manufacturing company, what inventory method do you believe would provide the most accurate http://www.coursehomework.com/product/acc-205-week-3-complete-work/ \http://www.coursehomework.com/product/acc-205-week-3-complete-work/

You May Also Find These Documents Helpful

  • Powerful Essays

    ACC 205

    • 1344 Words
    • 12 Pages

    Pepsi ACC205: Principles of Accounting Instructor Susanne Eliott August 19, 2013 Pepsi PepsiCo Inc. is an American multinational food and beverage corporation headquartered in Purchase, New York. PepsiCo is a world leader in convenient snacks, foods, and beverages, with revenues of $60 billion and over 285,000 employees. PepsiCo owns some of the world's most popular brands, including Pepsi-Cola, Mountain Dew, Diet Pepsi, Lay's, Doritos, Tropicana, Gatorade, and Quaker. Coca-Cola…

    • 1344 Words
    • 12 Pages
    Powerful Essays
  • Satisfactory Essays

    ACC 205 Entire Course

    • 236 Words
    • 2 Pages

    This archive ACC 205 Entire Course includes following files: ACC 205 Week 1 Assignment.doc ACC 205 Week 1 DQ 1 Ethical Issues.docx ACC 205 Week 1 DQ 2 Debit and Credit.docx ACC 205 Week 2 Assignment P3-32A, P3-33A, E4-21, P4-25A.doc ACC 205 Week 2 DQ 1 Ethical Issue 3 1.docx ACC 205 Week 2 DQ 2 Adjusting Entries.docx ACC 205 Week 3 Assignment E5-16 ,E6-23 ,E6-28, P5-29A.doc ACC 205 Week 3 DQ 1 Ethical Issue 5-1.docx ACC 205 Week 3 DQ 2 FIFO and LIFO.docx ACC 205 Week 4 Assignment…

    • 236 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    ACC 205 Week 2

    • 1254 Words
    • 7 Pages

    Week Two Exercise Assignment Revenue and Expenses 1. Recognition of concepts. Jim Armstrong operates a small company that books entertainers for theaters, parties, conventions, and so forth. The company’s fiscal year ends on June 30. Consider the following items and classify each as either (1) prepaid expense, (2) unearned revenue, (3) accrued expense, (4) accrued revenue, or (5) none of the foregoing. a. Interest owed on the company's bank loan, to be paid in early July Prepaid expense…

    • 1254 Words
    • 7 Pages
    Powerful Essays
  • Satisfactory Essays

    ACC 205 Week 4 Assignment

    • 668 Words
    • 3 Pages

    There is ACC 205 Week 4 Assignment P7-31A, P8-32A, P8-26A, P8-27A, P7-27A in this pack. Deadline: ( ), Business - Accounting Week1 D1: As you have learned in this week’s readings the Accounting Equation is + Owners’ Equity. Is the accounting equation true in all instances? Provide sample transactions from your own experiences to demonstrate the validity of the Accounting Equation. D2: What does the term account mean? What are the different classifications of accounts? How do…

    • 668 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    ACC 205 Week 5: Assignment

    • 1245 Words
    • 5 Pages

    Week 5 – Assignment Ilba Rodriguez ACC 205: Principles of Accounting I Prof. Theresa Murray November 16, 2014 Problem 1 – Liquidity ratios. A. Edison Stagg Thornton Current ratio 3.56 3.69 3.83 Quick ratio 3.06 2.78 2.5 Current ratio calculations: Edison ($6,000 (cash) + $3,000 (short-term investments) + $2,000 (AR) + $1,000 (inventory) + $800 (prepaid expenses)) / ($200 (AP) + $3,100 (notes payable) + $300 (accrued payables)) = 3.56 Stagg ($5,000 (cash) + $2,500 (short-term investments) + $2,500…

    • 1245 Words
    • 5 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Acc 205 Final Paper Example

    • 1671 Words
    • 26 Pages

    Final Paper Randy Scott ACC 205 Eric Weitner September 29, 2014 Walmart Company Overview Walmart helps people around the world save money and live better -- anytime and anywhere -- in retail stores, online and through their mobile devices. Each week, more than 245 million customers and members visit our nearly 11,000 stores under 71 banners in 27 countries and e-commerce websites in 10 countries. With fiscal year 2014 sales of approximately $473 billion, Walmart employs 2.2 million associates worldwide…

    • 1671 Words
    • 26 Pages
    Satisfactory Essays
  • Powerful Essays

    Acc 205 Week 1 Assignment

    • 1709 Words
    • 7 Pages

    Basic Accounting Equations Angela M. Hill-McBride ACC 205 Professor Ivory December 17, 2012 Basic Accounting Equations 1. Basic concepts. Jean's Marine Supply specializes in the sale of boating equipment and accessories. Identify the items that follow as an asset (A), liability (L), revenue (R), or expense (E) from the firm's viewpoint. a. The inventory of boating supplies owned by the company. (A) b. Monthly rental charges paid for store space. (L) c. A loan owed to Citizens…

    • 1709 Words
    • 7 Pages
    Powerful Essays
  • Powerful Essays

    ACC205­Week 5 Final Paper (Wal­Mart Financial Analysis Report) 1 Rosie Collins ACC 205: Principle of Accounting I Traci West March 31, 2014 ACC205­Week 5 Final Paper (Wal­Mart Financial Analysis Report) 2 Financial accounting reports, to include balance sheets and income statements provide accountants and the general public a snap shot of a company’s overall financial condition and…

    • 2124 Words
    • 9 Pages
    Powerful Essays
  • Satisfactory Essays

    ACC 205 WEEK 1 ASSIGNMENT

    • 895 Words
    • 8 Pages

    1. Recognition of normal balances a. Amounts paid to a mall for rent -expense b. Amounts to be paid in 10 days- liability c. A new fax machine purchases for office use- assets d. Land held as an investment - assets e. Amounts due from customers -assets f. Daily sales of merchandise sold - revenue g. Promotional costs to publicize a concert - expense h. A long-term loan owed to Citizens Bank -liability i. The albums, tapes, and CDs held for sale to customers –assets Normal balance for: liability…

    • 895 Words
    • 8 Pages
    Satisfactory Essays
  • Powerful Essays

    Week One Exercise Assignment Basic Accounting Equations 1. Recognition of normal balances The following items appeared in the accounting records of Triguero's, a retail music store that also sponsors concerts. Classify each of the items as an asset, liability, revenue, or expense from the company's viewpoint. Also indicate the normal account balance of each item. a. The albums, tapes, and CDs held for sale to customers. * Asset; Normal account balance is debit b. A long-term loan…

    • 1969 Words
    • 8 Pages
    Powerful Essays