...Devry ACCT 212 Entire Course-Latest 2015 November (All Discussions Check Points Midterm Final And Course Proj) IF You Want To Purchase A+ Work then Click The Link Below For Instant Down Load http://www.hwspeed.com/Devry-ACCT-212-Entire-Course-Latest-2015-November-823823222587.htm?categoryId=-1 IF You Face Any Problem Then E Mail Us At JOHNMATE1122@GMAIL.COM Question week 1 Discussion 1I suspect that most of us can view and appreciate most sports such as baseball, football, and basketball. What if you were to view a Cricket World Cup game? If you didn't know the rules you probably would not have much fun. The same happens in business if you don't understand its language - Accounting. What rules impact a business' Accounting Information System? What types of compliance is required? Discussion 2 In this graded discussion, we will be examining the operation of the Accounting Information System (AIS) with the use of problems and exercises from your textbook. The goal is to cover all of the requirements to ensure an opportunity for your successful completion of Course Project. Let's start with Exercise 1-17A. Read about CoffeeShop Doughnuts and select one of the four requirements to answer. week 2 Discussion 1Last week, we discussed "The Language of Business" and why the accounting information system is important in business. This week, we are going to look at the mechanics of how it all works. It might be a bit easier if we started with an example...
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...Discussion Questions Week 2 1.) What is meant by the term double-entry accounting? Examples are great and try to build on what each other has said. Double entry accounting is based on the fact that every financial transaction has equal and opposite effects in at least two different accounts. In the double entry system, transactions are recorded in terms of debits and credits. Since a debit in one account will be offset by a credit in another account, the sum of all debits must therefore be exactly equal to the sum of all credits. The double-entry system of bookkeeping or accounting makes it easier to accurately prepare financial statements directly from the books of account and detect errors. For example: A company borrows a loan from the bank for 10,000 You would debit cash for 10,000 and credit accounts payable for 10,000 2.) This is very important ... Analyzing and recording (or journalize) a transaction is the first tab for you to complete in your Course Project. It is also the first two steps of the Accounting Cycle. It also gets test time. SO POSTING TO THIS THREAD ... give me THREE of your OWN examples of business transactions, with dollar amounts .... state the transaction that occured and then show me in Journal Entry Form, how you would record each of the three transactions. Mar. 27 received $600 cash from services performed from John and Sons Auto body shop Mar. 30 John and Sons purchased equipment for $800 from Dodge dealer ship. Mar...
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...Homework Submission TemplateCh1 & Ch2 Amber Allen Exercise 1-1, Questions 1-10 (5 points) page 29-30: Q # 1 _a__ Q # 2 _c__ Q # 3 __c_ Q # 4 _c__ Q # 5 _b__ Q # 6 _c__ Q # 7 _d__ Q # 8 __c_ Q # 9 __b_ Q #10 _c__ Problem 1-3 (10 Points) page 32: Q # 1: Budgetary Compliance: No Expenditures was recognized. Total salary and wages should be recognized when paid in 2015 Interperiod Equity: Amount should be recognized when it is earned in 2014 Q # 2: Budgetary Compliance: Should be recognized when payment of $170,000 was made in 2015 Interperiod Equity: Pension contribution amounting $225,000 calculated by actuary should be recognized in 2014, at the time when employees earned the benefits Q # 3: Budgetary Compliance: Cost of vehicles should be recognized when payment for cars were made. $105,000 in 2014 Interperiod Equity: Cost of vehicles should be recognized over the 3 years in which cars would be used (35,000 per year) Q # 4: Budgetary Compliance: Interest revenue amounting $1,000 should be recognized when received in year 2015 Interperiod Equity: Interest should be recognized when it is earned in 2014 Q # 5: Budgetary Compliance: Expenditures made for the office building should be recognized when it is used, regardless if building is paid for. Expenditures would be $400,000 per year for 25 years Interperiod Equity: Cost of office building should be recognized when it is used, regardless of building is paid for. Q # 6: Budgetary...
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...plans (#1a through #1e) are designed as a modular set to be used together. They consist of a series of discussions covering various parts of the video. You may use them in several ways. One is to alternate between discussions and watching segments of the video. There are three pause points on the video. The discussions are designed to fit with these points. The first lesson (#1a) fits before the video begins; lessons #1b through #1d fit well at the three pause points; and the final one (#1e) fits best at the end of the video segment. Alternatively, the video can be viewed without interruption and the discussions divided between topics to be discussed before and after viewing. No continuity will be lost if some discussions are skipped. Because much of this material may be unfamiliar to teachers, each of the lessons has an extended presentation of background information for teachers. This information, along with additional materials from the references cited in the section called “For More Information,” should help you to be an informed discussion leader. Lesson Plan #1a: Grade Level: Time Required: What Is Money and Why Do We Need It? 9–12 10–15 minutes, or more if desired Overview: This lesson is a guided discussion about the nature of money. The video discusses many ways that money has changed and is changing due to the development of electronic communication. This discussion would work well as a preview to viewing the video or after viewing. Objectives:...
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...The Accounting Cycle and Accrual Accounting Concepts Accounting Information System | Journal, Ledger Accounts, and Trial Balance | Cash-Basis Versus Accrual-Basis Accounting | Accrual Accounting Concepts | Adjusting Entries, Adjusted Trial Balance, and Closing | Self-Assessment After learning about the income statement and the balance sheet in Chapters 1 and 2, we are now being introduced to the accounting cycle and certain underlying accounting concepts that influence the contents of those two financial statements. | | Accounting Information System | | Just what, exactly, is the accounting information system? Is it a room full of computers and papers? Not necessarily. The accounting information system consists of data, papers to support the data, machines to process the data, and most importantly, people to report the resulting information to those who make decisions based on such information. Every organization that is engaged in transactions needs an accounting information system. This brings us to an important term used in accounting—a transaction! But what, exactly, is a transaction? Identifying Business Transactions A transaction is any event that involves an exchange or consumption of resources. A transaction could take place between a company and external parties (e.g., purchase of raw materials from suppliers or sale of merchandise to customers), or within a company itself (e.g., a company uses supplies that were purchased at a previous date and were...
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...1. | Question : | (TCO 1) The Accounting Equation is used to develop the organization's financial reports. (1) Describe what assets value would be if Liabilities are $12,000 and Owners' Equity is $50,000 by showing the Accounting Equation (10 points), and (2) provide an example of two asset accounts that could contain the value. (10 points) | | | Student Answer: | | 1.Assets=Liabilities+Owners Equity 12,000+50000 Assets=62,000 2.Cash and Equipment | | Instructor Explanation: | Textbook pages 11-12. Assets = $12,000 + $50,000 = $62,000. Cash and inventory are examples. | | | | Comments: | | | | Question 2. | Question : | (TCO 1) The financial statements present a company to the public in financial terms. (1) Which financial statement should be prepared first and why (10 points), and (2) explain what information this financial statement provides. (10 points) | | | Student Answer: | | the four basic financial statements are the income statement, statement of owner's equity, statement of cash flows which reports activity for a specific period of time usually a month, quarter or year and the balance sheet which reports balances of certain elements at a specific time. the income statement should be prepared first, it lists revenues and expenses and calculates the company's net income or net losss for a period of time. it lists all the expenses and losses on the debit side and all the income and gains on the creidt side. 2. a financial...
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...of reaching out extensively to its customers around the globe, Muncha House has launched Muncha Internet Ventures through which www.munchahouse.com was started. This was done taking in view the advent of the internet which raised the possibility of serving the Nepalese people in ways which were before thought of to be impossible. In the long run, we have changed to “MUNCHA.COM” for brevity reasons, but our services remain the same and we always strive to improve our services to our valued customers. In order to extend services, Muncha Internet Ventures has recently registered a company in Texas, USA under the name of Muncha LLC. To service clients in the US, a toll free line has also been set up. Hence, customers there can call directly at 1-888-357-6348. We have also extended our customer service coverage to the UK and our clients in the UK can now call us directly at 44 0207 078 7349. What Is Kumari Mobile Cash? Kumari Bank introduces an innovative mobile phone based payment system--Kumari Mobile Cash.The service is available to all mobile phone...
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...registered version - http://www.clicktoconvert.com 1 LESSON 1: INTRODUCTION TO FINAL ACCOUNT CONTENTS 1.0. Aims and Objectives 1.1 Introduction 1.1.1. Definition 1.2. Sundry Debtors 1.3. Sundry Creditors 1.4. Final Accounts 1.5. Trading Account 1.5.1. Balancing of Trading Account 1.6. Profit and Loss Account 1.7. Balance Sheet 1.7.1. Definition 1.7.2. Objectives of Balance Sheet 1.7.3. Assets 1.7.4. Liabilities 1.8. Difference between a Trial Balance and a Balance Sheet 1.9. Let Us Sum Up 1.10 Lesson end Activities 1.11. Points for Discussion 1.12. Model answer to “Check your Progress” 1.13. Suggested Reading / References/ Sources 1.0 AIMS AND OBJECTIVES At the end of the lesson you be able to: Ø Understand basics of Final Accounts Ø Understand the difference between Profit and Loss Account with Trial Balance Ø Understand how to prepare Balance Sheet 1.1 INTRODUCTION All business transactions are first recorded in Journal or Subsidiary Books. They are transferred to Ledger and balanced it. The main object of keeping the books of accounts is to ascertain the profit or loss of business and to assess the financial position of the business at the end of the year. The object is better served if the businessman first satisfies himself that the accounts written up during the year are correct or al least arithmetically accurate. When the transactions are recorded under double entry system, there is a credit for every debit, when on a/c is debited; another a/c is credited with equal...
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...Chapter one Rational of the study In the sophisticated digital age, the importance of the development of debit card sector is under description for the rapid economic development of the country. It is precondition to have well improved transaction for the rapid development of a country. The debit card is one of the vital and important parts of the bank sector. Basically the economic development of the country depends on the development of trade and commerce of the country. On the other hand the development of trade and commerce depends on the bank sector. So, it is the fair arms to have well improved bank sector for the economic development of the country. In this sense, debit card plays important role for the safely carry and transferring money from one place to another. we concisely enjoy how much they are benefited due to the debit card introduction in Rajshahi city. Not only trade and commerce, we can observe the change of personal life due to the debit card users in Rajshahi. Now it is the age of modern technology. In this age debit card is being used highly as a medium of technology. Debit card is keeping active role in transferring money from are corner to another of Bangladesh. It is the contribution of the bank sector to keep balance development between urban and rural area of Bangladesh. Long-term maximizing profit through customer satisfaction is the main objective of the marketing. To achieve those objectives, it is urgent to eliminate or meet the need of the...
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...Chapter one Rational of the study In the sophisticated digital age, the importance of the development of debit card sector is under description for the rapid economic development of the country. It is precondition to have well improved transaction for the rapid development of a country. The debit card is one of the vital and important parts of the bank sector. Basically the economic development of the country depends on the development of trade and commerce of the country. On the other hand the development of trade and commerce depends on the bank sector. So, it is the fair arms to have well improved bank sector for the economic development of the country. In this sense, debit card plays important role for the safely carry and transferring money from one place to another. we concisely enjoy how much they are benefited due to the debit card introduction in Rajshahi city. Not only trade and commerce, we can observe the change of personal life due to the debit card users in Rajshahi. Now it is the age of modern technology. In this age debit card is being used highly as a medium of technology. Debit card is keeping active role in transferring money from are corner to another of Bangladesh. It is the contribution of the bank sector to keep balance development between urban and rural area of Bangladesh. Long-term maximizing profit through customer satisfaction is the main objective of the marketing. To achieve those objectives, it is urgent to eliminate or meet the need of the...
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...change in the recent years. However, there is still some process involved in the procurement of Home loan. It is advisable for you to first look at the different stages required for obtaining a Home Loan. The followings are the step by step procedure of getting home loan: Step 1 : Application form The first step involved in applying for home loan is the procurement of application form from the HFC of your choice. The Performa of application every HFC (Housing Finance Companies) is different from the other but about 80% information required to be furnished is the same. Along with the application form necessary documents like address proof, age proof, proof of income, bank balance etc. are also to be attached with the application form before it is submitted to the HFC. Along with all these documents HFCs also ask for processing fee of the home loan that varies 0.25% to 0.50% of the total loan amount. Step 2 : Personal Discussion After successfully filling the application form and submitting it to the authority the next step is face to face with bank or HFC where you have applied for the home loan. The bank first evaluates the papers submitted and summons the applicant for the personal discussion regarding the home loan applied for. It is advisable that you carry all your original documents of whose copy you have submitted along with the application. Step 3 : Bank's Field Investigation The next step is the field investigation done by the HFC or banks. They sent their...
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...Solving an Ethical Dilemma: 1.Recognize an ethical situation and the ethical issues involved.2.Identify&analyze the principal elements in the situation.3.Identify the alternatives, and weigh the impact of each alternative on various stakeholders. Financing Activities:1.Borrowing money (debt financing)-Amts owed=liabilities.Party to whom amounts are owed are creditors.Notes payable&bonds payable diff. types of liabilities.2.Issuing(selling) shares of stock for cash.-payments to stockholders=dividends.Investing Activities: Comps,deliverytrucks,furniture,buildings,etc.(PPE).Resources owned by a business=assets.Investments another example of an investing activity. Income Stmt: Reports revs.&exp. for a specific period of time. Net income/loss. Past net income provides info for predicting future net income. Net income is needed to determine the ending balance in retained earnings. RE: stmt. shows amts and causes of changes in RE during the period. Time period is the same as that covered by the income stmt. Users can evaluate dividend payment practices. Ending balance in RE is needed in preparing the balance sheet. BS: Reports assets and claims to assets at a specific point in time. Assets=Liab+SE. Lists assets first, followed by Liab and SE. U.S. companies that are publicly traded must provide shareholders w annual report. Annual Report always includes: Financial stmts, mgmt. discussion&analysis, notes to financial stmt, auditor’s report. Mgmt discussionAnalysis: comp...
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...Chapter one Rational of the study In the sophisticated digital age, the importance of the development of debit card sector is under description for the rapid economic development of the country. It is precondition to have well improved transaction for the rapid development of a country. The debit card is one of the vital and important parts of the bank sector. Basically the economic development of the country depends on the development of trade and commerce of the country. On the other hand the development of trade and commerce depends on the bank sector. So, it is the fair arms to have well improved bank sector for the economic development of the country. In this sense, debit card plays important role for the safely carry and transferring money from one place to another. we concisely enjoy how much they are benefited due to the debit card introduction in Rajshahi city. Not only trade and commerce, we can observe the change of personal life due to the debit card users in Rajshahi. Now it is the age of modern technology. In this age debit card is being used highly as a medium of technology. Debit card is keeping active role in transferring money from are corner to another of Bangladesh. It is the contribution of the bank sector to keep balance development between urban and rural area of Bangladesh. Long-term maximizing profit through customer satisfaction is the main objective of the marketing. To achieve those objectives, it is urgent to eliminate or meet the need of the...
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...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) 1. We have to close temporary accounts at the end of a period because when the temporary accounts are closed, it brings their balances back down to zero. 2. I would Debit Salary Expense and Credit to PayrollExpenses 12/31 DR Salary Expense 1000 Cr Payroll 1000 | 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 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) 1. In accounting, a debit increases the balance and a credit decreases the balance. The accounts that have a normal debit balance are assets, the owner's equity, expenses and losses. Normal credit balances are liabilities, equity, revenue, and gains. When we debit an account, we raise the balance. When we credit the account, we decrease the balance. Using a double entry system, we would debit one account and credit the other to get the journal in balance.2. An example would be debit rent expense and credit bank account.DR Rent Expense 3000CR Checking...
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...ACCT 212 Course Project (DEVRY) For more course tutorials visit www.tutorialrank.com Tutorial Purchased: 3 Times, Rating: A (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) (TCO 3) Adjusting Entries are required at the end of the period to ensure that accrual accounting principles are...
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