ACCT 212 DEVRY ENTIRE COURSE,ACCT 212 DEVRY ENTIRE CLASS,ACCT 212 DEVRY TUTORIAL,ACCT 212 DEVRY ASSIGNMENT Flashcards
ACCT 212 Week 1 to 7 All Discussion Questions
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Week 1 DQ 1 Financial Statements
Week 1 DQ 2 Prepaid Expenses vs. Unearned Revenue
Week 2 DQ 1 Accrual vs. Cash Accounting
Week 2 DQ 2
Week 3 DQ 1 Ethical Business Decisions
Week 3 DQ 2 Trade Credit - Accounts Payable
Week 4 DQ 1 Inventory Management
Week 4 DQ 2 LIFO
Week 5 DQ 1 Non-current Assets and Related Liabilities
Week 5 DQ 2 Raising Capital (Cash)
Week 6 DQ 1 Stockholders Equity
Week 6 DQ 2 Net Income vs. Net Operating Cash
Week 7 DQ 1 Financial Statement Analysis
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DEVRY ACCT 212 Course Project
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ACCT 212
ACCT 212 Week 1 DQ 1 Financial Statements
ACCT 212 Week 1 DQ 2 Prepaid Expenses vs. Unearned Revenue
ACCT 212 Week 2 DQ 1 Accrual vs. Cash Accounting
ACCT 212 Week 2 DQ 2
ACCT 212 Week 3 DQ 1 Ethical Business Decisions
ACCT 212 Week 3 DQ 2 Trade Credit – Accounts Payable
ACCT 212 Week 4 DQ 1 Inventory Management
ACCT 212 Week 4 DQ 2 LIFO
ACCT 212 Week 5 DQ 1 Non-current Assets and Related Liabilities
ACCT 212 Week 5 DQ 2 Raising Capital (Cash)
ACCT 212 Week 6 DQ 1 Stockholders Equity
ACCT 212 Week 6 DQ 2 Net Income vs. Net Operating Cash
ACCT 212 Week 7 DQ 1 Financial Statement Analysis
ACCT 212 Week 7 DQ 2
This course has two course projects due. The first, Course Project 1, reinforces the basic principles of accounting and application of the accounting information system. It is completed in two parts. The second, Course Project 2, is an opportunity to show the ability to analyze financial statements to arrive at conclusions based upon the analysis.
Course Project 1 – Overview and Guidelines | Course Project 2 – Overview and Guidelines
Course Project 1 – Overview and Guidelines
Course Project 1 consists of two parts, A and B, respectively. There are 10 requirements for you to complete in this exercise, Part A has 1-3 and Part B has 4-10. Part A is due at the end of Week 3. Part B is due at the end of Week 5. See Syllabus/”Due Dates for Assignments & Exams” for due date information.
The Course Project 1 template has all of the information you will need to complete Parts A & B of the project. The template also includes:
Detailed Project Instructions (with requirements) A reference list of October transactions A Chart of Accounts reference sheet A Grading Rubric to help explain what is expected. Each worksheet has the Check Figures embedded as a comment.
1. Download the Excel template named ACCT212CourseProject1 located on the Doc Sharing tab in the course shell.
2. To complete Part A (due at the end of Week 3):
Complete Requirements 1-3 on the Journal Entries, General Ledger, and Trial Balance worksheets. Type your work directly into the worksheets. Save your workbook as “CourseProject1A ACCT212_YourLastName”. Submit your workbook to the Dropbox under “Course Project 1-Part A” by the end of Week 3. Submit your assignment to the Dropbox located on the silver tab at the top of this page. For instructions on how to use theDropbox, read these Step-by-Step Instructions or watch this Dropbox Tutorial.
3. To complete Part B (due at the end of Week 5):
Using feedback from your instructor and the worksheets from Part A, complete requirements 4-10. Type your work directly into the worksheets. Save your workbook as “CourseProject1B_ACCT212_YourLastName”. Submit the workbook to the Dropbox under “Course Project 1-Part B” by the end of Week 5. Submit your assignment to the Dropbox located on the silver tab at the top of this page. For instructions on how to use theDropbox, read these Step-by-Step Instructions or watch this Dropbox Tutorial.
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DEVRY ACCT 212 Final Exam
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(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)
(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)
(TCO 5) Internal Control Procedures are required to safeguard company assets and to ensure ethical operation of the business. (1) Explain how limited access can satisfy the purpose of internal control (10 points) and (2) provide an example of how this control could be implemented. (10 points) (Points : 20)
(TCO 4) Inventory valuation methods determine the cost of goods sold and the inventory balance. (1) Explain how the First in First out (FIFO) method is applied (10 points) and (2) provide an example of the impact that this method of inventory valuation will have on Gross Profit. (10 points) (Points : 20)
(TCO 1) To evaluate the financial operation and health of a business ratio analysis is used. (1) Provide the formula for the Current Ratio and explain how it is computed (10 points) and (2) provide an example of how this ratio can be used in decision-making in business. (10 points) (Points : 20)
(TCO 6) BagODonuts Company bought a used delivery truck on January 1, 2010, for $19,200. The van was expected to remain in service 4 years (30,000 miles). BagODonuts’ accountant estimated that the truck’s residual value would be $2,400 at the end of its useful life. The truck traveled 8,000 miles the first year, 8,500 miles the second year, 5,500 miles the third year, and 8,000 miles in the fourth year.
1. Calculate depreciation expense for the truck for each year (2010-2013) using the:
a. Straight-line method.
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DEVRY ACCT 212 Week 4 Midterm
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DEVRY ACCT 212 Course Project
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(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 applied. At the beginning of the month $1,350 of office supplies were purchased. There was not a beginning balance and the one purchase was the only one for the month. At the end of the month $500 of supplies remained. Develop the adjusting entry. (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 5) Internal Controls are required to safeguard assets and to ensure ethical business practices. (1) Identify and explain the reason for any two of the seven internal control procedures (10 points) and (2) provide examples of how your two selected internal control procedures will meet the goal of safeguarding assets and promoting ethical business practices. (15 points)
(TCO 5) The bank account as a control device helps to protect cash. One of the requirements is to conduct periodic bank statement reconciliations. Using the following data, complete the bank statement reconciliation. (Use the format shown on page 255 of your textbook) (25 points)
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