- Description
XACC 291 Entire Course
Principles of Accounting II
Week One: Principle Assets | |||
Details | Due | Points | |
Objectives | 1.1 Prepare journal entries to account for transactions related to accounts receivable and bad debt using both percentage of sales and the percentage of receivables methods. 1.2 Distinguish between tangible and intangible assets. | ||
Course Preparation | Read the course description and objectives. Read the instructor’s biography and post your own. | ||
Reading | Read Ch. 8 of Financial Accounting.
| ||
Reading | Read Ch. 9 of Financial Accounting. | ||
Reading | Review Ch. 1 of Financial Accounting. | ||
Reading | Review Ch. 2 of Financial Accounting. | ||
Reading | Review Ch. 3 of Financial Accounting. | ||
Participation/ Discussion | Participate in class discussion. | All Week | 2 |
CheckPoint Exercises – Week One | Resource: Ch. 9 of Financial Accounting Complete Exercise E9-2. Submit as either a Microsoft® Excel® or Word document. | 2/23/14 | 3 |
Week Two: Principle Assets | |||
Details | Due | Points | |
Objectives | 2 2.1 Identify the entries associated with acquisition, disposal, and sales of plant assets. 2.2 Distinguish between revenue and capital expenditures, and the entries associated with each. | ||
CheckPoint Reflection | Write a 350- to 500-word summary explaining the differences between revenue expenditures and capital expenditures during a useful life and identifying any similarities. Briefly explain the entries of revenue expenditures and capital expenditures.
Format your summary consistent with APA guidelines. | 2/26/2014 | 3 |
Individual Exercises and Problems – Week Two | Resource: Ch. 9 of Financial Accounting Complete Exercises E9-1, E9-7, & E9-12. Complete Problem P9-7B. Submit as a Microsoft® Excel® or Word document. | 3/2/2014 | 12 |
Week Three: Liabilities | |||
Details | Due | Points | |
Objectives | 3 3.1 Differentiate among accounts payable, notes payable, and accrued expenses. 3.2 Prepare necessary journal entries to record the issuance of bonds, the periodic interest, and the amortization of bond premiums and discounts. | ||
Reading | Read Ch. 10 of Financial Accounting.
| ||
Participation/ Discussion | Participate in class discussion. | All Week | 2 |
Week Four: Liabilities | |||
Details | Due | Points | |
Objective | 4 4.1 Calculate depreciation and amortization expense using various methods. | ||
Checkpoint Recognizing Differences | Write a 350- to 500-word paper in which you differentiate between valuation, depreciation, amortization, and depletion. Is it appropriate to calculate depreciation using two different methods? Why?
Format your paper consistent with APA guidelines. | 3/12/14 | 3 |
Individual Exercises and Problems – Week Four | Resource: Ch. 10 of Financial Accounting Complete Exercises E10-6, E10-8, & E10-18. Complete Problems 10-3A & 10-6A. Submit as a Microsoft® Excel® or Word document. | 3/16/14 | 12 |
Week Five: Equity and Investments | |||
Details | Due | Points | |
Objectives | 5 5.1 Differentiate among the types of stocks issued by corporations. | ||
Reading | Read Ch. 11 of Financial Accounting.
| ||
Reading | Read Ch. 12 of Financial Accounting. | ||
Participation/ Discussion | Participate in class discussion. | All Week | 2 |
CheckPoint Stocks | Write a 250- to 350-word paper explaining why preferred stock is referred to as preferred and what some of the features added to preferred stock are that make it more attractive to investors. Would you select preferred stock or common stock as an investment? Why?
Format your paper consistent with APA guidelines. | 3/23/14 | 3 |
Week Six: Equity and Investments | |||
Details | Due | Points | |
Objectives | 6 6.1 Calculate stocks, dividends, and stock splits. 6.2 Record treasury stock transactions. 6.3 Prepare journal entries associated with the issuance of preferred and common stocks and the declaration and payment of dividends. | ||
CheckPoint Stocks and Transactions | Answer each scenario a-d with one of the choices below:
Chen, Inc. purchases 1,000 shares of its own previously issued $5 per common stock for $12,000. Assuming the shares are held in the treasury, what effect does this transaction have on (a) net income, (b) total assets, (c) total paid-in capital, and (d) total stockholders’ equity?
The treasury stock purchased in the above question was resold by Chen, Inc. for $15,000. What effect does this transaction have on (a) net income, (b) total assets, (c) total paid-in capital, and (d) total stockholders’ equity?
When working on your Week Six Checkpoint – Stocks and Transactions, please note that each scenario has questions lettered a-d. You will have 2 sets of answers when completed, one for each scenario. Please answer each letter with the following choices No effect Decrease Increase Make sure you put the appropriate letter with your choice so I will know which one you are referring to. You are not required to have a word count or APA format. Any questions please let me know. There is a template available that I require you use.
| 3/26/14 | 3 |
Individual Exercises and Problems – Week Six | Resources: Ch. 11 & 12 of Financial Accounting Complete Exercises E11-15, E12-1, & E12-2. Complete Problem 11-6A. Submit as a Microsoft® Excel® or Word document. | 3/30/14 | 12 |
Week Seven: Financial Statement Analysis | |||
Details | Due | Points | |
Objectives | 7 7.1 Prepare a statement of cash flows using both direct and indirect methods. | ||
Reading | Read Ch. 13 of Financial Accounting.
| ||
Reading | Read Ch. 14 of Financial Accounting. | ||
Participation/ Discussion | Participate in class discussion. | All Week | 2 |
CheckPoint Cash Flow | Write a 350-word response to the following:
Why are companies required to prepare a statement of cash flows? Why is the statement of cash flows divided into three sections? What does each section tell you about the operations of a company?
Format your response consistent with APA guidelines. | 4/6/14 | 3 |
Week Eight: Financial Statement Analysis | |||
Details | Due | Points | |
Objective | 8 8.1 Apply ratio, vertical, and horizontal analyses to financial statements.
| ||
Nongraded Activities and Preparation Ratio Analysis Memo | Continue working on the Ratio Analysis Memo assignment due in Week Nine. | ||
CheckPoint Direct and Indirect Cash Flows | Write a 350-word response regarding the differences between the direct and indirect presentation of cash flows. Why does the Financial Accounting Standards Board allow both methods? Which do you prefer? Why?
Format your response consistent with APA guidelines. | 04/9/14 | 3 |
Individual Exercises – Week Eight | Resources: Ch. 13 & 14 of Financial Accounting Complete Exercises E13-8 & E14-3. Submit as a Microsoft® Excel or Word® document. | 04/13/14 | 12 |
Week Nine: Ethics | |||
Details | Due | Points | |
Objectives | 9 9.1 Identify situations that might lead to unethical accounting practices. 9.2 Examine the effects of unethical behavior and the Sarbanes-Oxley Act on financial statements. | ||
Reading | Read the “Fraud and Internal Control” section in Ch. 7 of Financial Accounting.
| ||
Capstone Discussion Question | Respond to the capstone discussion question.
· Identify situations that might lead to unethical practices and behavior in accounting. Do you think the Sarbanes-Oxley Act has made a difference in the ethical behavior of companies regarding their financial accounting? Why or why not?
| 04/16/14 | 3 |
Final Project Ratio Analysis Memo
| Resources: Virtual Organizations
Click the Virtual Organization link on the student website to access the Virtual Organizations.
Select Riordan Mfg. as your Virtual Organization and the basis for this assignment, you will use years 2009-2010 only, you are required to use the template.
Access the information contained in your selected organization’s balance sheet and income statement to calculate the following:
· Liquidity ratios
o Current ratio o Acid-test, or quick, ratio o Receivables turnover o Inventory turnover
· Profitability ratios
o Asset turnover o Profit margin o Return on assets o Return on common stockholders’ equity
· Solvency ratios
o Debt to total assets o Times interest earned
Show your calculations for each ratio.
Create a horizontal and vertical analysis for the balance sheet and the income statement.
| 04/20/14 | 15 |
Write a 350- to 700-word memo to the CEO of your selected organization in which you discuss your findings from your ratio calculations and your horizontal and vertical analysis. In your memo, address the following questions:
· What do the liquidity, profitability, and solvency ratios reveal about the financial position of the company? · Which users may be interested in each type of ratio? · What does the collected data reveal about the performance and position of the company?
Format your memo consistent with APA guidelines. | 4/20/14 | 5 |