Acc 205 Complete Course (Assignments – Dqs – Dqs Journal – and 4 Finals) New Latest Work 2013 – a Graded

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ACC 205 Complete Course (Assignments – Dqs – Dqs Journal – And 4 Finals) New Latest Work 2013 – A Graded
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ACC 205 Week One Exercise;
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
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DQ2: what does the term account mean? What are the different classifications of accounts? How do the rules for debits and credits impact accounts? Please provide an example of how debits and credits impact accounts.
Balance Sheet Journal The balance sheet is a financial snap shot of a company at a particular point in time. The balance sheet lists the assets, liabilities, and equity of the company. Reflect on your personal financial situation, can you apply the concepts of the balance sheet? What did you learn from this reflection?


Acc 205_Week Two Exercise Solution:
1. Classification of items for Ron Carroll Company:
A. pre¬paid expense
B. accrued revenue
C. none of the foregoing
D. unearned revenue
E. pre¬paid expense
F. accrued expense
G. none of the foregoing
H. none of the foregoing
2. Computing prepaid account balance of Action Sign Company:
3. Understanding the closing process:
A. Interest Payable, Accounts Receivable, Cash, Accounts Payable, Accumulated Depreciation: Equipment
B. Alex Kenzy, Drawing, Service Revenue, Supplies Expense, Interest Expense
C. Interest Expense, Supplies Expense
D. Alex Kenzy, Drawing
4. Adjusting entries and financial statements for Fixation Enterprises:
5. Adjusting entries preparation for Kathy’s Day Care Center:
6. Palmetto Company’s Bank reconciliation and adjustingentries:
a. Palmetto’s January bank reconciliation:
b. Necessary journal

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