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Acc 290 Weeks 1 5 Assignments Wileyplus Assignment And Final Exam

2746 words - 11 pages

ACC 290 Week 1 Assignment WileyPLUS Assignment

Click Assignment: Week 1 Assignment within WileyPLUS to complete the following exercises:

DO IT! 1-3

Exercise 1-3

Exercise 1-4

Exercise Excel E 2-4

IFRS 2-4

Resource: WileyPLUS

Click Assignment: Week 1 Assignment within WileyPLUS to complete the following exercises:

DO IT! Review 1-3

Exercise 1-3

Exercise 1-4

Exercise 2-4

IFRS 2-4

ACC 290 Week 2 Assignment WileyPLUS Assignment

Resource: WileyPLUS

Click Assignment: Week 2 Assignment within WileyPLUS to complete the following exercises:

BYP 2-2

IFRS 2-6

Exercise 3-4

BYP 3-2 ...view middle of the document...

GAAP. The summary should be structured in a subject-by-subject format. Include an introduction and a conclusion. Your discussion should include the answers to the following:

IFRS 2-1: In what ways does the format of a statement of financial or position under IFRS often differ from a balance sheet presented under GAAP?

IFRS 2-2: Do the IFRS and GAAP conceptual frameworks differ in terms of the objective of financial reporting? Explain.

IFRS 2-3: What terms commonly used under IFRS are synonymous with common stock and balance sheet?

IFRS 3-1: Describe some of the issues the SEC must consider in deciding whether the United States should adopt IFRS.

IFRS 4-1: Compare and contrast the rules regarding revenue recognition under IFRS versus GAAP.

IFRS 4-2: Under IFRS, do the definitions of revenues and expenses include gains and losses? Explain.

IFRS 7-1: Some people argue that the internal control requirements of the Sarbanes-Oxley Act (SOX) of 2002 put U.S. companies at a competitive disadvantage to companies outside the United States. Discuss the competitive implications (both pros and cons) of SOX.

Format your paper consistent with APA guidelines.

Use your Financial Accounting text and at least two additional scholarly-reviewed references.

Click the Assignment Files tab to submit your assignment.

ACC 290 WileyPLUS Final Examination

Resource: WileyPLUS

Click Assignment: Final Examination within WileyPLUS to complete the exam. You are allowed one attempt to complete the exam. Results are auto graded and sent to your instructor.

(Note. Final Examination questions are adapted from Financial Accounting: Tools for Business Decision Making.)

Question 1

Your answer is correct.

Jackson Company recorded the following cash transactions for the year:

Paid $135,000 for salaries.

Paid $60,000 to purchase office equipment.

Paid $15,000 for utilities.

Paid $6,000 in dividends.

Collected $245,000 from customers.

What was Jackson’s net cash provided by operating activities?

$110,000

$35,000

$89,000

$95,000

Question 2

Your answer is correct.

Which of the following describes the classification and normal balance of the Unearned Rent Revenue account?

Revenues, credit

Liability, credit

Expense, debit

Asset, debit

Question 3

Your answer is correct.

Posting

should be performed in account number order.

accumulates the effects of journalized transactions in the individual accounts.

involves transferring all debits and credits on a journal page to the trial balance.

is accomplished by examining ledger accounts and seeing which ones need updating

Question 4

Your answer is correct.

The following is selected information from L Corporation for the fiscal year ending October 31, 2014....

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