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accounting

Assignment and Homework

It is due per week. 

in This document it has homework and assignments label by week. 

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Assignments are due every Thursday and Homework on Saturdays.

 

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accounting

Assignment and Homework

It is due per week. 

in This document it has homework and assignments label by week. 

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Assignments are due every Thursday and Homework on Saturdays.

 

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accounting

Respond to the following in a minimum of 350 words:

  • Consider the “control environment.” Asses why it is important for auditors to understand a client’s control environment. What are some limitations of internal controls?
  • Now consider “segregation of duties.” Determine why it is important in an IT environment. What are some advantages of using IT and audit software when conducting an audit?

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accounting

Respond to the following in a minimum of 300 words:

  • Describe some civil and criminal consequences if CPAs/auditors fail to follow professional standards.
  • Summarize some things that CPAs can do to limit their liability and prevent lawsuits.
  • Determine whether the liability risk to CPAs/auditors is appropriate, too high, or too low.

 

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accounting

Week 2 is due this Thursday, and then after that one per week.

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accounting

Minimum 550 words per Discussion question. 

It is one per week, first one will be due tomorrow 06/02/22

then each one per week after.

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See the attachment for the DQ instructions for each week.

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accounting

minimun 1,500 words.

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accounting

  1. DQ DUE EVERY WEEK, SAME AS THE LAST PAPER

 

THANK YOU!

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accounting

250-300 words per DQ.

There are 5 DQ 

 

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Thank you!

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accounting

 

Week 3 DQ

Respond to the following in a minimum of 275 words:

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Imagine that you’ve been asked to explain 1 of the major accounting ratios to a group of high school students who have no background in business or accounting but are eager to learn. Choose 1 of the following ratios, and describe how you would explain it in your own words, using a specific example: 

·       Current Ratio

·       Asset Turnover

·       Profit Margin on Sale

 

 

Week 4 DQ

Respond to the following in a minimum of 275 words:

A statement of cash flows classifies cash receipts and cash payments into what 3 categories of activity? For each category of activity, share 2 specific examples of both cash receipts and cash payments based on 2 different business scenarios of your choosing. 

The business scenarios you choose can be based on real or fictional companies. For example, if you chose Uber and the fictional MarksABunch Art Supplies company, you would share 6 examples of cash receipts and cash payments per company, each broken out into one of the 3 different categories of activity presented in a statement of cash flows. 

 

Instructor note – See below for a suggested approach on answering this DQ. 

 

Company 1

Operating Activities:

Cash receipt example

Cash payment example

Investing Activities:

Cash receipt example

Cash payment example

Financing Activities:

 Cash receipt example

Cash payment example

 

Repeat for Company 2

 

Week 5 DQ

Respond to the following in a minimum of 275 words:

Many of us apply the time value of money in our personal lives – for example, when we invest dollars in a young child’s bank account earmarked for his or her eventual college education.

·       Share an explanation of the time value of money in your own words. 

·       What criteria do accountants use to decide whether to use present or future values in accounting statements?

 

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accounting

 

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accounting

  1. Different question to answer, 375 words each.

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Accounting

I need all work shown so i undersnad how to do this.

Problem 1:

Able Corporation incurred the following costs.

Beginning direct materials inventory $16,000
Beginning work-in-process inventory $7,000
Beginning finished goods inventory $19,000
Ending direct materials inventory $16,000
Ending work in process $14,000
Ending finished goods $ 26,000
Factory supervisor’s salary $28,000
Depreciation on plant $12,000
Sales $800,000
Selling and administrative expenses $125,000
Plant maintenance $6,000
Plant utilities $11,000
Direct material purchases $215,000
Direct labor $240,000

Calculate the following.

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  1. Direct materials used
  2. Cost of goods manufactured
  3. Cost of goods sold
  4. Operating income

problem 2:

Below is information from Job Card 506 for the Bearing Manufacturing Company.

Date started: June 15, 2015
Date Completed: July 24, 2015

Date Direct Materials Direct Labor Applied Factory Overhead Job Total
6/15/2015 $ 5,000
6/25/2015 $1,200 $600
6/27/2015 $2,300
7/6/2015 $ 1,540 $770
7/15/2015 $2,600
7/24/2015 $760 $380

Job 506 was sold on credit on July 24, 2015, for 180% of its cost.

Factory OH was applied on the basis of DL.

Required:

  1. Prepare the journal entries to record the costs incurred for Job 506 in 2015 for direct materials, direct labor, and factory overhead.
  2. Prepare the journal entry to record the completion of Job 506.
  3. What is the predetermined factory overhead rate for Bearing Manufacturing?
  4. Prepare the journal entries to record the sale of Job 506.

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