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ACCT 504 Education Organization- tutorialrank.com

For more course tutorials visit<br>www.tutorialrank.com<br>Case Study 1 (Part A)<br>Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions:<br>June<br>2<br>Gordon received $55,000 cash and issued common stock to the stockholders.<br>3 Purchased supplies, $3,000, and equipment, $5,200, on <br>

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ACCT 504 Education Organization- tutorialrank.com

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  1. ACCT 504 Case Study 1 (Gordon Construction) For more course tutorials visit www.tutorialrank.com Case Study 1 (Part A) Analyze the impact of business transactions on accounts; record (journal ize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., compl eted the following transactions: June 2 Gordon received $55,000 cash and issued common stock to the stockhol ders. 3 Purchased supplies, $3,000, and equipment, $5,200, on account. 4 at June 30, 2014. ============================================== ACCT 504 Case Study 2 (Williams Oil) For more course tutorials visit www.tutorialrank.com Case study

  2. (Learning Objectives 2, 4: Explain the components of internal control; e valuate internal controls) Each of the following situations reveals an inte rnal control weakness: Situation a. In evaluating the internal control over inventory for the Willi ams Oil Services Company, an auditor learns that the warehouse receivi ng clerk is responsible for ordering parts for supply inventory use in drill ing services, counts the inventory when received at the dock, records the receipts into the inventory ledger, and takes the annual inventory, No su pervisor reviews the receiving clerks work. Situation b. Nicole Lopez handles employee travel and expense reports f or Scott Sales Services. With the growth in the economy, the sales team began traveling extensively gaining new business. Because of the heavy volume, she no longer required the sales team to provide original airline, hotel, or car rental receipts. She told them to just keep their meals under the $100 per day per diem and no receipts were required. She allowed th em to use their own credit cards so they could get the frequent flyer poin ts. She required them to turn in a summary of the travel expenses ============================================== ACCT 504 Case Study 3 (Wang Appliance Store) For more course tutorials visit www.tutorialrank.com

  3. Construct and use a cash budget) Nathan Farmer, chief financial officer of Wang Appliance Store, is responsible for the company?s budgeting pr ocess. Farmer?s staff is preparing the Wang cash budget for 2014. A key input to the budgeting process is last year?s statement of cash flows, wh ich follows (amounts in thousands): Wang Appliance Store Statement of Cash Flows 2013 (in thousands) Cash Flows from Operating Activities Collections from customers $51,000 ============================================== ACCT 504 Course Project Analysis of Nike, Inc. and Under Armour, Inc. For more course tutorials visit www.tutorialrank.com Course Project: A Financial Statement Analysis A Comparative Analysis of Nike, Inc. and Under Armour, Inc.

  4. Below is the link for the financial statements for Nike, Inc. for the fiscal year ending 2014. First, select 2014using the drop-down arrow labeled Year, and then select Annual Filings using the drop-down arrow labeled All. You should select the 10k dated 7/15/2014,and choose to download in PDF, Word, or Excel format. Below is the link for the financial statements for Under Armour, Inc. for the fiscal year ending 2014. First, select Annual using the drop-down arrow labeled View, and then select 2015 using the drop-down arrow labeled Year. You should select the 10k dated 2/20/2015, and choose to download it in PDF or Excel format. ============================================== ACCT 504 Course Project Oracle and Microsoft Corporation

  5. For more course tutorials visit www.tutorialrank.com Course Project Financial Statement Analysis Project -- A Comparative Analysis of Oracle Corporation and Microsoft Corporation Here is the link for the financial statements for Oracle Corporation for the fiscal year ending 2007. First, select 2007 using the drop-down arrow labeled for Year on the right-hand side of the page, and then select Annual Reports using the drop-down arrow labeled Filing Type on the left-hand side of the page. You should select the 10k dated 6/29/2007 and choose to download in PDF, Word, or Excel format. Here is the link for the financial statements for Microsoft Corporation for the fiscal year ending 2007. You should select the Annual report dated 8/3/2007 and choose to download in Word or Excel format. A sample Project template is available for download in Doc Sharing. The sample project compares the ratio performance of Tootsie Roll and Hershey using the 2007 financial statements of Tootsie Roll and Hershey provided in Appendix A and Appendix B of your textbook. Description | Overall Requirements | Grade Information Description This course contains a course project where you will be required to submit one draft of the project at the end of Week 5 and the final completed project at the end of Week 7. Using the financial statements for Oracle Corporation and Microsoft Corporation, respectively, you

  6. will calculate and compare the financial ratios listed further down this document for the fiscal year ending 2007 and prepare your comments about the liquidity, solvency and profitability of the two companies based on your ratio calculations. The entire project will be graded by the instructor at the end of the final submission in week 7 and one grade will be assigned for the entire project. Overall Requirements For the Final Submission: Your final Excel workbook submission should contain the following. You cannot use any other software but Excel to complete this Project. 1. A completed worksheet title page tab which is really a cover sheet with your name, my name, the class name, and the date. 2. A completed worksheet profiles tab which contains a one paragraph description regarding each company with information about their history, what products they sell, where they are located etc. 3. All 18 ratios for each company with the supporting calculations and commentary on your worksheet ratio tab. Supporting calculations must be shown either as a formula or as text typed into a different cell. The ratios are listed further down this document. Your comments for each ratio should include more than just a definition of the ratio. You should focus on interpreting each ratio number for each company and support your comments with the numbers found in the ratios.

  7. 4. The Summary and Conclusions worksheet tab which is an overall comparison of how each company compares in terms of the major category of ratios (Liquidity, Profitability, and Solvency). 5. The Bibliography worksheet tab must contain at least your textbook as a reference. Any other information you use to profile the companies should also be cited as a reference. Required Ratios for Final Project Submission: 1. Earnings per Share 2. Current Ratio 3. Gross Profit Rate 4. Profit Margin Ratio ============================================== ACCT 504 Entire Course (Includes All DQs, Project, Case Study, Midterm, Final) For more course tutorials visit www.tutorialrank.com ACCT 504 Week 1-7 All Discussion Questions ACCT 504 Week 3 Case Study 1 Flower Landscaping Corporation ACCT 504 Week 4 Midterm Exam Set 1

  8. ACCT 504 Week 4 Midterm Set 2 ACCT 504 Week 4 Midterm Set 3 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 finals) ============================================== ACCT 504 Final Exam (3 different finals) For more course tutorials visit www.tutorialrank.com 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

  9. 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 profit margin and debt-to-total-assets ratio profit margin and asset-turnover ratio times interest earned and debt-to-stockholders equity ratio ============================================== ACCT 504 Final Exam Guide (2 Set, New 2020) For more course tutorials visit www.tutorialrank.com This Tutorial contains 2 Set of Final Exam Question 1.1. (TCO D) Please describe the purpose of the Income Statement and the interrelationship between the income statement and the other major financial statements that we covered in this class. In your answer, please also address which financial statements should be created

  10. before the Income Statement, if any, and which financial statements need to be completed after the Income Statement, if any. (Points : 25) Question 1—Set 2 1. Please describe the purpose of the Balance Sheet and the interrelationship between the balance sheet and the other major financial statements that we covered in this class. In your answer, please also address which financial statements should be created before the Balance Sheet, if any, and which financial statements need to be completed after the Balance Sheet, if any ============================================== ACCT 504 Group Course Project (A Comparative Analysis of Celgene Corporation and Gilead Sciences, Inc) For more course tutorials visit www.tutorialrank.com Group Course Project: A Financial Statement Analysis

  11. A Comparative Analysis of Celgene Corporation and Gilead Sciences, Inc. Groups The students will be assigned to work in teams of two no later than Week 2. The teams will be required to collaborate at least three weeks on the project using a collaboration tool, such as Cisco Spark, or similar technology, and provide evidence of use of the tool. It will be recommended that the students begin their project no later than week 5, when the draft is due, and continue through the end of week 7, when the final project is to be delivered. Financial Statements Below is the link for the financial statements for Celgene Corporation for the fiscal year ending 2015. When you arrive at this website, please do the following.

  12. ============================================== ACCT 504 Midterm Exam (4 Sets, 2020) For more course tutorials visit www.tutorialrank.com This Tutorial contains 4 Set of Midterm Exam 1. Question : (TCOs A and E) Your friend, Ellen, has hired you to evaluate the following internal control procedures. Explain to your friend whether each of the numbered items below is an internal control strength or weakness. You must also state which internal control procedure relates to each of the internal controls. For the weaknesses, you also need to state a recommendation for improvement.

  13. (1) The cashier counts the total receipts and reconciles the receipts with the cash register total. (2) Electronic documents are password-protected. (3) The accountant is completely independent of the sales department. (4) Invoices are not numbered. (5) Large purchase orders must be approved by a manager. TCOs A and E) Your friend, Ellen, has hired you to evaluate the following internal control procedures. Explain to your friend whether each of the numbered items below is an internal control strength or weakness. You must also state which internal control procedure relates to each of the internal controls. For the weaknesses, you also need to state a recommendation for ============================================== ACCT 504 Week 1 Homework (E117A E129B E22A E123A E124A)

  14. For more course tutorials visit www.tutorialrank.com This Tutorial contains Excel Files which can be used to solve for any values (your Question may have different company name or values, but that can be solved using Excel file) E 1-17A CoffeeShop Doughnuts has current assets of $280 million; property, plant, and equipment of $430 million; and other assets totaling $170 million. Current liabilities are $170 million and long- term liabilities total $300 million. 1. Use these data to write CoffeeShop Doughnuts’ accounting equation. 2. How much in resources does CoffeeShop have to work with? 3. How much does CoffeeShop owe creditors?

  15. 4. How much of the company’s assets do the CoffeeShop stockholders actually own? E1-29B Assume Chen, Inc., is expanding into France. The company must decide where to locate and how to finance the expansion. Requirement ============================================== ACCT 504 Week 1-7 All Discussion Questions For more course tutorials visit www.tutorialrank.com Week 1DQ 1 - Financial Reporting Environment and GAAP Week 1DQ 2 - Details of Financial Statements and Ratios

  16. Week 2DQ 1 - Accounting EquationAccounting Cycle Week 2DQ 2 - Accrual Accounting and Adjusting Entries Week 3DQ 1 - Merchandising Operations and Income Statements Week 3DQ 2 - Inventory Cost-Flow Assumptions Week 4DQ 1 - Understanding Internal Control and Reporting Cash Week 4DQ 2 - Accounting for and Reporting Receivables Week 5DQ 1 - Plant Assets and Intangibles Week 5DQ 2 - Accounting for Liabilities Week 6DQ 1 - Accounting for and Reporting Equity

  17. Week 6DQ 2 - Statement of Cash Flows Week 7DQ 1 - Issues in Income Reporting Week 7DQ 2 - Different Tools for Financial Analysis ============================================== ACCT 504 Week 2 Homework (E2-17A, E2-18A, E3- 22A, E3-23A) For more course tutorials visit www.tutorialrank.com This Tutorial contains Excel Files which can be used to solve for any values (your Question may have different company name or values, but that can be solved using Excel file) E2-17A

  18. Dr Anna Grayson opened a medical practice specializing in physical therapy. During the first month of operation (May), the business, titled. Anna Grayson, Professional Corporation (P.C.), experienced the following events: 1. Record the transactions in the journal of Dr. Anna Grayson, P.C. List the transactions by date and give an explanation for each transaction 6 Grayson invested $138,000 in the business, which in turn issued its common stock to her. 9 The business paid cash for land costing $63,000. Grayson plans to build an office building on the land. 12 The business purchased medical supplies for $1,500 on account. 15 Dr. Anna P.C., officially opened for business. 15-31 ============================================== ACCT 504 Week 3 Case Study 1 (Melvin Plumbing Corporation) **New**

  19. For more course tutorials visit www.tutorialrank.com MAKE SURE TO COMPLETE ALL REQUIREMENTS WHICH ARE LISTED BELOW. There are 10 sheets in the Workbook, including this one. All of the information that you need for the project is located in this Workbook. Requirement #1: During its first month of operation, the Melvin Plumbing Corporation, which specializes in residential plumbing, completed the following transactions. July 1 Began business by making a deposit in a company bank account of $90,000, in exchange for 9,000 shares of $10 par value common stock.

  20. July 3 Paid the current month's rent, $5,500. ============================================== ACCT 504 Week 3 Case Study 1 Flower Landscaping Corporation For more course tutorials visit www.tutorialrank.com 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.

  21. All of the Information you need for the Project is located in this Workbook. Requirements Requirement 1 - Prepare the Journal Entries in the General Journal Requirement 2 - Post Journal Entries to the General Ledger Requirement 3 - Prepare a Trial Balance Requirement 4 - Prepare the Adjusting Entries Requirement 5 - Post Adjusting Entries to the General Ledger Requirement 6 - Prepare an Adjusted Trial Balance Requirement 7 - Prepare the Financial Statements Requirement 8 - Prepare the Closing Entries Requirement 9 - Post Closing Entries to the General Ledger Requirement 10 - Prepare the Post Closing Trial Balance 7) The credits for the adjusted trial balance on the Adjusted Trial Balance tab ============================================== ACCT 504 Week 3 Quiz

  22. For more course tutorials visit www.tutorialrank.com Q -1 Other comprehensive income A. includes extraordinary gains and losses. B. affects earnings per share. C. includes unrealized gains and losses on available-for-sale investments. D.

  23. ============================================== ACCT 504 Week 4 Quiz For more course tutorials visit www.tutorialrank.com Q -1 Anderson Company had the following information in 20142014. Accounts receivable 12/31/14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $14,000

  24. Allowance for uncollectible account 12/31/14 (before adjustment). . . . . . . 850 ============================================== ACCT 504 Week 5 Case Study 2 Internal Control - LJB Company For more course tutorials visit www.tutorialrank.com 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.

  25. Since LJB Company is a relatively lean organization, they have a lot of faith in their long-term employees. They have one accountant who serves as Treasurer and Controller which streamlines many of their processes. In this dual role, he purchases all of the supplies and pays for these purchases. He also receives the checks and completes the monthly bank reconciliation. The accountant is so busy that the company handles petty cash a bit differently. All employees have access to the petty cash in a desk drawer and are asked to only place a note if they use ============================================== ACCT 504 Week 5 Course Project Draft Spreadsheet For more course tutorials visit www.tutorialrank.com ACCT-504 Week 5 Course Project Draft Spreadsheet ============================================== ACCT 504 Week 5 Homework (E7-15A, E7-19A, E8-20A, E9-23A, E9-29A)

  26. For more course tutorials visit www.tutorialrank.com This Tutorial contains Excel Files which can be used to solve for any values (your Question may have different company name or values, but that can be solved using Excel file) E 7-15A Potvin Self Storage purchased land, paying $175,000 cash as a down payment and signing a $185,000 note payable for the balance. Potvin also had to pay delinquent property tax of $5,500, title insurance costing $3,000, and $2,000 to level the land and remove an unwanted building. The company paid $55,000 to add soil for the foundation and then constructed an office building at a cost of $1100,000. It also paid $47,000 for a fence around the property, $16,000 for the company sign near the property entrance, and $10,000 for lighting of the grounds. Requirement

  27. 1. What is the capitalized cost of each of Potvin's land, land improvements, and building? 2. cost of land improvement 3. Cost of building E 7-19A Tasteful's Pizza bought a used Toyota delivery van on January 2, 2014, for $18,000. The van was expected to remain in service for four years left parenthesis (41,750 miles). At the end of its useful life, Tasteful's officials estimated that the van's residual value would be $1,300. The van traveled ============================================== ACCT 504 Week 6 Case Study 3 - Cash Budgeting - LBJ Company For more course tutorials visit

  28. www.tutorialrank.com 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

  29. 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. The company has a cash balance of $20,000 at the beginning of May and wishes to maintain a minimum cash balance of $20,000 at the end of each month. An open line of credit is available at the bank and carries an annual interest rate of 10%. Assume that all borrowing is done on the first day of the month in which financing is needed and that all repayments are made on the last day of the month in which excess cash is available. Also assume that there is no outstanding financing as of May 1. Requirements: 1. Use this information to prepare a Cash Budget for the months of May and June, using the template provided in Doc Sharing. 2. What are the three sections of a Cash Budget, and what is included in each section? 3. Why is a Cash Budget so vital to a company? 4. What are the five basic principles of cash management that a company can follow in order to improve its chances of having adequate cash? ============================================== ACCT 504 Week 6 Homework (E10-19A, E10-25A, E12- 16A, E12-20A)

  30. For more course tutorials visit www.tutorialrank.com This Tutorial contains Excel Files which can be used to solve for any values (your Question may have different company name or values, but that can be solved using Excel file) E10-19A Army Navy Sporting Goods is authorized to issue 10,000 shares of common stock. During a two-month period, Army Navy completed these stock-issuance transactions: Apr 23 Issued 3,000 shares of $1.00 par common stock for cash of $13.00 per share. May 12 Received inventory with a market value of $20,000 and equipment with market value of $39,000 for 3,600 shares of the $1.00 par common stock.Requirements 1. Journalize the transactions.

  31. 2. Prepare the stockholders' equity section of Army Navy Sporting Goods' balance sheet for the transactions given in this exercise. Retained Earnings has a balance of $45,000. Requirement 2. Evaluate Newton's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the reason for your evaluation. Newton's . ============================================== ACCT 504 Week 7 Course Project JCP Kohls For more course tutorials visit www.tutorialrank.com ACCT-504 Week 7 Course Project JCP Kohls

  32. ============================================== ACCT 504 Week 8 Course Project Celgene & Gilead Sciences Presentation (12 Slides) For more course tutorials visit www.tutorialrank.com Group Course Project: A Financial Statement Analysis A Comparative Analysis of Celgene Corporation and Gilead Sciences, Inc. ==============================================

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