Weekly Reflection ACC/291 PRINCIPLES OF ACCOUNTING II Weekly Reflection Week Three There are many topics that are covered in week three and with the Christmas and New Year’s break the team would find it beneficial to cover all the topics. These topics include: Chapter 11 1. Identify the major characteristics of a corporation. 2. Record the issuance of common stock. 3. Explain the accounting for treasury stock. 4. Differentiate preferred stock from common stock. 5. Prepare the entries
Premium Depreciation Stock Generally Accepted Accounting Principles
Week One Content Outline: University of Phoenix Tools and Basic Concepts of Accounting OBJECTIVE: Use the tools available to University of Phoenix graduate students. Resource: University of Phoenix student Web site: https://ecampus.phoenix.edu Content University Library Center for Writing Excellence Student Web site OBJECTIVE: Identify the hierarchy of sources for generally accepted accounting principles. Resource: Ch. 1 of Intermediate Accounting Content Financial accounting
Premium Generally Accepted Accounting Principles Financial Accounting Standards Board
Recording General Fund Operating Budget and Operating Transactions. The Town of Bedford Falls approved a General Fund operating budget for the fiscal year ending June 30‚ 2011. The budget provides for estimated revenues of $2‚700‚000 as follows: property taxes‚ $1‚900‚000; licenses and permits‚ $350‚000; fines and forfeits‚ $250‚000; and intergovernmental (state grants)‚ $200‚000. The budget approved appropriations of $2‚650‚000 as follows: General Government‚ $500‚000; Public Safety‚ $1‚600‚000;
Premium Federal government of the United States Generally Accepted Accounting Principles Mathematics
Assignments from the Readings ACC/400 July 15‚ 2013 Assignments from the Readings Chapter 8‚ Question 3: What are essential features of the allowance method of accounting for bad debt? According to Kimmel‚ Weygandt‚ & Kieso‚2007: 1. Estimated uncollectible accounts receivable: These accounts match them against revenues in the same accounting period. 2. “Record estimated uncollectible as an increase (a debt) to bad debt expense and an increase ( a credit) to Allowance for Doubtful
Premium Balance sheet Generally Accepted Accounting Principles Debt
https://www.gleim.com/?promoID=BAY-ACC4330 c. Auditing & Attestation Review System: book‚ Test Prep Online‚ Audio Review download‚ Simulation Wizard‚ Online Course‚ and Practice Exam ($171.00 + shipping). https://www.gleim.com/?promoID=BAY-ACC4330-SET 5. By subscription ($14): Poll Everywhere. Register through www.polleverywhere.com. Your $14 fee pays for a one-year subscription. Wait before you spend the money on this. We may not use it. Broad Learning Objectives: See attached list of detailed
Premium Auditing Risk Financial audit
Accounting Equations Paper ACC/300 Nakisha Susberry University of Phoenix Student 4/20/2013 The accounting equation is a formula that represents the relationship between the assets‚ liabilities‚ and owner ’s equity of a small business. Businesses use this to basically show what it owns what it owes and what its investors are investing. In order to understand these concepts it is important to have some knowledge of what is meant by each of the three basic components mentioned. “Assets
Premium Asset Balance sheet Accounting equation
Financial Statements ACC/290 September 14‚ 2012 Financial Statements This written essay will discuss the four basic financial statements used in accounting. It will describe the purpose of the four financial statements. How these statements would be useful to internal users‚ such as managers‚ and employees. How the external users‚ such as investors‚ and creditors would find these statements useful. Four Basic Financial Statements The four basic financial statements used in accounting
Premium Income statement Financial statements Generally Accepted Accounting Principles
Ch 1. Accounting Information and Decision Making Financial accounting: Measurement and communication‚ measures business activities of a company & communicate to external parties Managerial Accounting: methods accountants use to provide info to managers (acct 210) Who needs to make decisions about companies? Investors Creditors-lend money Customers-big customers (i.e. Apple buys memory chips from Samsung) Suppliers-ability to pay Managers-production/expansion Employees-employment opportunities
Premium Balance sheet Generally Accepted Accounting Principles Depreciation
reactant converted. Example of Stochiometric Analysis • Neutralization of hydrochloric acid with lime 2HCl + Ca(OH)2 CaCl2 + 2H2O • Oxidation of acetic acid to carbon dioxide and water. CH3COOH + 2O2 2CO2 + 2H2O Engr. Yvonne Ligaya F. Musico 5 Example of Stochiometric Analysis • Combustion of Methane CH4 + 2O2 CO2 + 2H2O • Oxidation of glucose C6H12O6 + 6O2 6CO2 + 6H2O Engr. Yvonne Ligaya F. Musico 6 Sample Problem 1 Freight train cars usually carry a maximum net weight of about 100
Premium Carbon Oxygen Hydrocarbon
profit margin. d. estimated selling price in the ordinary course of business less reasonably predictable costs of completion and disposal‚ an allowance for an approximately normal profit margin‚ and an adequate reserve for possible future losses. 5. Designated market value a. is always the middle value of replacement cost‚ net realizable value‚ and net realizable value less a normal profit margin. b. should always be equal to net realizable value. c. may sometimes exceed net realizable value
Premium Inventory