A+ Acct 504 Entire Course + Final Exam

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A+ ACCT 504 Entire Course + Final Exam

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ACCT 504 Week 3 Case Study 1 Flower Landscaping Corporation

ACCT 504 Week 5 Case Study 2 Internal Control LJB Company

ACCT 504 Week 5 Course Project Draft Spreadsheet

ACCT 504 Week 6 Case Study 3 Cash Budgeting LBJ Company

ACCT 504 Week 7 Course Project JCP Kohls

ACCT 504 Final Exam (3 different sets)

+ Discussions

Financial Reporting Environment and GAAP

Details of Financial Statements and Ratios

Accounting EquationAccounting Cycle

Accrual Accounting and Adjusting Entries

Merchandising Operations and Income Statements

Inventory Cost-Flow Assumptions

Understanding Internal Control and Reporting Cash

Accounting for and Reporting Receivables

Plant Assets and Intangibles

Accounting for Liabilities

Accounting for and Reporting Equity

Statement of Cash Flows

Issues in Income Reporting

Different Tools for Financial Analysis

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ACCT 504 Final Exam (3 different finals)

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1. (TCO A) Which one of the following is an advantage of corporations relative to partnerships and sole proprietorships? (Points : 5)
Reduced legal liability for investors
Harder to transfer ownership
Lower taxes
Most common form of organization

2. (TCO A) When a corporation distributes a dividend, _____. (Points : 5)
the most common form of distribution is a cash dividend
the Dividends account will be increased with a credit
the Retained Earnings account will be directly increased with a debit
the Dividends account will be decreased with a debit

3. (TCOs A, B) Below is a partial list of account balances for Cerner Company:

Cash $5,000
Prepaid insurance 500
Accounts receivable 2,500
Accounts payable 2,000
Notes payable 3,000
Common stock 1,000
Dividends 500
Revenues 15,000
Expenses 12,500

What did Cerner Company show as total credits? (Points : 5)
$21,500
$21,000
$20,500
$22,000

4. (TCOs B, E) Using accrual accounting, expenses are recorded and reported only _____. (Points : 5)
when they are incurred, whether or not cash is paid
when they are incurred and paid at the same time
if they are paid before they are incurred
if they are paid after they are incurred

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ACCT 504 Week 1-7 Discussion Question

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* Financial Reporting Environment and GAAP
* Details of Financial Statements and Ratios
* Accounting EquationAccounting Cycle
* Accrual Accounting and Adjusting Entries
* Merchandising Operations and Income Statements
* Inventory Cost-Flow Assumptions
* Understanding Internal Control and Reporting Cash
* Accounting for and Reporting Receivables
* Plant Assets and Intangibles
* Accounting for Liabilities
* Accounting for and Reporting Equity
* Statement of Cash Flows
* Issues in Income Reporting
* Different Tools for Financial Analysis

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ACCT 504 Week 3 Case Study 1 Flower Landscaping Corporation

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ASE STUDY 1 -THE COMPLETE ACCOUNTING CYCLE The Entire Case Study is due Sunday at Midnight Mountain time at the end of Week 3. This Case Study is worth 100 points or 10% of your final course grade. This Case Study relates to TCO's D and E and Chapters 3 and 4. MAKE SURE TO COMPLETE ALL REQUIREMENTS WHICH ARE LISTED BELOW. There are 10 Sheets in the Workbook including this one. All of the Information you need for the Project is located in this Workbook. Requirements Sheet in Workbook Requirement 1 - Prepare the Journal Entries in the General Journal Journal Entries Requirement 2 - Post Journal Entries to the General Ledger General Ledger Requirement 3 - Prepare a Trial Balance Trial Balance Requirement 4 - Prepare the Adjusting Entries Adjusting Entries Requirement 5 - Post Adjusting Entries to the General Ledger General Ledger Requirement 6 - Prepare an Adjusted Trial Balance Adjusted TB Requirement 7 - Prepare the Financial Statements Financial Statements Requirement 8 - Prepare the Closing Entries Closing Entries Requirement 9 - Post Closing Entries to the General Ledger General Ledger Requirement 10 - Prepare the Post Closing Trial Balance Post Closing TB Hint for success: review the Week 2 Lecture prior to starting this project. There are also hints contained within certain cells on some of the worksheet tabs. You can hover over the red pointer at the top right-hand corner of the cell to read the hint. Hints are provided for the following balances: 1) The debits for the journal entries on the Journal Entries tab 2) The credits for the journal entries on the Journal Entries tab 3) The cash balance on the General Ledger tab 4) The debits for the trial balance on the Trial Balance tab 5) The credits for the trial balance on the Trial Balance tab 6) The debits for the adjusted trial balance on the Adjusted Trial Balance tab 7) The credits for the adjusted trial balance on the Adjusted Trial Balance tab 8) Net Income for the Income Statement on the Financial Statements tab 9) Retained earnings as of March 31 on the Financial Statements tab 10) Total assets for the Balance Sheet on the Financial Statements tab 11) Total liabilities and shareholders' equity for the Balance Sheet on the Financial Statements tab

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ACCT 504 Week 5 Case Study 2 Internal Control LJB Company

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Case Study 2 - Internal Control- Due by Sunday of week 5

LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future. The President wants to be aware of any new regulations required of his company if they go public so he met with a colleague of yours at a local restaurant. The President of the company explained the current system of internal controls to your colleague. Your colleague has since been promoted to a tax position so she has passed on the information below so you can generate recommendations for the partner at your accounting firm to share with the President of LJB Company.

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ACCT 504 Week 5 Course Project Draft Spreadsheet

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ACCT 504 Week 5 Course Project Draft Spreadsheet

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ACCT 504 Week 6 Case Study 3 Cash Budgeting LBJ Company

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The cash budget was covered during Week 4 when we covered TCO D and you read Chapter 7. There is also a practice case study to work on. Your Professor will provide the solution to the practice case study at the end of Week 5. This case study should be uploaded by 11:59PM Mountain time of the Sunday ending Week 6 to the Week 6 Assignment Dropbox. You are encouraged to use the Excel template file provided in Doc Sharing.

The LBJ Company has budgeted sales revenues as follows:

April May June

Credit sales $94,000 $89,500 $75,000

Cash sales 48,000 75,000 57,000

Total sales $142,000 $164,500 $132,000

Past experience indicates that 30% of the credit sales will be collected in the month of sale and the remaining 70% will be collected in the following month.

Purchases of inventory are all on credit and 40% is paid in the month of purchase and 60% in the month following purchase. Budgeted inventory purchases are $195,000 in April, $135,000 in May, and $63,000 in June.

Other budgeted cash receipts: (a) sale of plant assets for $33,000 in May, and (b) sale of new common stock for $50,000 in June. Other budgeted cash disbursements: (a) operating expenses of $15,000 each month, (b) selling and administrative expenses of $10,150 each month, (c) purchase of equipment for $19,000 cash in June, and (d) dividends of $20,000 will be paid in June.

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ACCT 504 Week 7 Course Project JCP Kohls

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Your Course Project

Financial Statement Analysis Project -- A Comparative Analysis of Kohl’s Corporation and J.C. Penney Corporation

Below is the link for the financial statements for Kohl’s Corporation for the 2010 fiscal year ending January 29, 2011. Under the term Groupings Filter, change the term All Forms to Annual Filings using the drop-down arrow and press Search.

You should then scroll down and select the 10k dated 3/18/2011 and choose to download in Word or PDF format.

http://www.kohlscorporation.com/InvestorRelations/sec-filings.htm

Below is the link for the financial statements for J.C. Penney Corporation for the 2010 fiscal year ending January 29, 2011. Under the term Groupings Filter, change the term All Forms to Annual Filings using the drop-down arrow and press Search.