ACC 206 Complete Course Material

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ACC 206 Complete Course Material http://homeworkfy.com/downloads/acc-206-complete-course-material/ To Get this Tutorial Copy & Paste above URL Into Your Browser Hit Us Email for Any Inquiry at: Homeworkfy@gmail.com Visit our Site for More Tutorials: (http://homeworkfy.com/ ) ACC 206 Week 1 Assignment Chapter One Problems Why are noncash transactions, such as the exchange of common stock a building, included on a statement of cash flows? How are these noncash transactions disclosed? Chapter 1 Exercise 1: 1. Classification of activities Classify each of the following transactions as arising from an operating (O), investing (I), financing (F), or noncash investing/financing (N) activity. a. ________ Received $80,000 from the sale of land. b. ________ Received $3,200 from cash sales. c. ________ Paid a $5,000 dividend. d. ________ Purchased $8,800 of merchandise for cash. e. ________ Received $100,000 from the issuance of common stock. f. ________ Paid $1,200 of interest on a note payable. g. ________ Acquired a new laser printer by paying $650. h. ________ Acquired a $400,000 building by signing a $400,000 mortgage note. Chapter 1 Exercise 4: 4. Overview of direct and indirect methods Evaluate the comments that follow as being True or False. If the comment is false, briefly explain why. a. Both the direct and indirect methods will produce the same cash flow from operating activities. b. Depreciation expense is added back to net income when the indirect method is used. c. One of the advantages of using the direct method rather than the indirect method is that larger cash flows from financing activities will be reported. d. The cash paid to suppliers is normally disclosed on the statement of cash flows when the indirect method of statement preparation is employed. e. The dollar change in the Merchandise Inventory account appears on the statement of cash flows only when the direct method of statement preparation is used. Chapter 1 Exercise 6: 6. Equipment transaction and cash flow reporting New equipment purchased during 20×4 totaled $280,000. The 20×4 income statement disclosed equipment depreciation expense of $41,000 and a $9,000 loss on the sale of equipment. a. Determine the cost and accumulated depreciation of the equipment sold during 20X4. b. Determine the selling price of the equipment sold. c. Show how the sale of equipment would appear on a statement of cash flows prepared by using the indirect method. Chapter 1 Problem 3: 3. Cash flow information: Direct and indirect methods The comparative year-end balance sheets of Sign Graphics, Inc., revealed the following activity in the company’s current accounts: Related Tutorials ACC 206 Week 1 DQ1 Cash Flows Information What information does the cash flow statement provide that you cannot see in the other financial statements (income statement, balance sheet, owner’s equity)? What elements of the cash flow statement do you think are most important for company management to monitor and why? Is this different for investors? Guided Response: Review your peers’ postings. Respond to at least two of classmates, letting them know whether you agree with the use of the cash flow statement and why. Additionally, share elements of the cash flow statement that you see as being the greatest interest to investors (as opposed to internal management) and why. ACC 206 Week 1 DQ2 Apple’s Cash Flow Go to http://finance.yahoo.com. Enter in “AAPL” and click on the “get quote” button, and it will bring up information on Apple. On the left hand side you’ll see a section on Financials. Within that section, click on the cash flow. Review the cash flow statement for Apple. How would you summarize Apple’s cash flow position and what does this statement tell you about where the money is coming from and where it’s going? What would you suggest Apple’s do to improve its cash position and why? Guided Response: Analyze several of your peers’ postings. Do you agree
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  ACC 206 Complete Course Material http://homeworkfy.com/downloads/acc-206-complete-course-material/ To Get this Tutorial   Copy  & Paste  aboe URL  !nto our Browser  #it $s Email  for %ny Inquiry  at: Homeworkfy@gmail.com   isit our ite for #ore Tutorials$ %&ttp$''&omeworkfy.com' ( ACC 206 Week 1 Assignment Chapter One ProblemsWhy are noncash transactions, such as the exchange of common stock a builing, inclue on a statement of cash flo!s #o! are these noncash transactions isclose Chapter 1 $xercise 1%1& Classification of acti'itiesClassify each of the follo!ing transactions as arising from an operating (O), in'esting (*), financing (+), or noncash in'estingfinancing (-) acti'ity&a& ........ /ecei'e 0,000 from the sale of lan& b& ........ /ecei'e ,200 from cash sales&c& ........ Pai a 3,000 i'ien&& ........ Purchase ,00 of merchanise for cash&e& ........ /ecei'e 100,000 from the issuance of common stock&f& ........ Pai 1,200 of interest on a note payable&g& ........ Ac4uire a ne! laser printer by paying 630&h& ........ Ac4uire a 500,000 builing by signing a 500,000 mortgage note&Chapter 1 $xercise 5%5& O'er'ie! of irect an inirect methos$'aluate the comments that follo! as being rue or +alse& *f the comment is false, briefly explain !hy&  a& 7oth the irect an inirect methos !ill prouce the same cash flo! from operating acti'ities& b& 8epreciation expense is ae back to net income !hen the inirect metho is use&c& One of the a'antages of using the irect metho rather than the inirect metho is that larger cash flo!s from financing acti'ities !ill be reporte&& he cash pai to suppliers is normally isclose on the statement of cash flo!s !hen the inirect metho of statement preparation is employe&e& he ollar change in the 9erchanise *n'entory account appears on the statement of cash flo!s only !hen the irect metho of statement preparation is use&Chapter 1 $xercise 6%6& $4uipment transaction an cash flo! reporting -e! e4uipment purchase uring 20:5 totale 20,000& he 20:5 income statement isclose e4uipment epreciation expense of 51,000 an a ;,000 loss on the sale of e4uipment&a& 8etermine the cost an accumulate epreciation of the e4uipment sol uring 20<5& b& 8etermine the selling price of the e4uipment sol&c& =ho! ho! the sale of e4uipment !oul appear on a statement of cash flo!s prepare by using the inirect metho&Chapter 1 Problem %& Cash flo! information% 8irect an inirect methoshe comparati'e year>en balance sheets of =ign ?raphics, *nc&, re'eale the follo!ing acti'ity in the company@s current accounts%/elate utorialsACC 206 Week 1 81 Cash +lo!s *nformationWhat information oes the cash flo! statement pro'ie that you cannot see in the other financial statements (income statement, balance sheet, o!ner@s e4uity) What elements of the cash flo! statement o you think are most important for company management to monitor an !hy *s thisifferent for in'estors ?uie /esponse%  /e'ie! your peers@ postings& /espon to at least t!o of classmates, letting them kno! !hether you agree !ith the use of the cash flo! statement an !hy& Aitionally, share elements of the cash flo! statement that you see as being the greatest interest to in'estors (as oppose to internalmanagement) an !hy&ACC 206 Week 1 82 Apple@s Cash +lo!?o to http%finance&yahoo&com& $nter in BAAPD an click on the Bget 4uoteD button, an it !ill  bring up information on Apple& On the left han sie you@ll see a section on +inancials& Within that section, click on the cash flo!& /e'ie! the cash flo! statement for Apple& #o! !oul you summariEe Apple@s cash flo! position an !hat oes this statement tell you about !here the money is coming from an !here it@s going What !oul you suggest Apple@s o to impro'e its cash position an !hy ?uie /esponse%AnalyEe se'eral of your peers@ postings& 8o you agree !ith the posting et at least t!o of your  peers kno! !hat you !oul a&ACC 206 Week 2 Assignment Chapter !o an hree ProblemsPlease complete the follo!ing F exercises belo! in either $xcel or a !or ocument (but must  be single ocument)& Gou must sho! your !ork !here appropriate (lea'ing the calculations !ithin $xcel cells is acceptable)& =a'e the ocument, an submit it in the appropriate !eek usingthe Assignment =ubmission button&Chapter 2 $xercise 11& *ssuance of stock Prepare Hournal entries to recor the issuance of 100,000 shares of common stock at 20 per share for each of the follo!ing inepenent cases%a& Iackson Corporation has common stock !ith a par 'alue of 1 per share& b& /oyal Corporation has no>par common !ith a state 'alue of 3 per share&c& +rench Corporation has no>par commonJ no state 'alue has been assigneChapter 2 $xercise & Analysis of stockholers@ e4uity  =tar Corporation issue both common an preferre stock uring 20<6& he stockholers@ e4uitysections of the company@s balance sheets at the en of 20<6 an 20<3 follo!&20<620<3Preferre stock, 100 par 'alue, 10K 30,000300,000Common stock, 10 par 'alue 2,30,0001,F30,000Pai>in capital in excess of par 'aluePreferre 25,000 L Common 5,620,000,600,000/etaine earnings ,5F0,0006,;20,000otal stockholers@ e4uity 16,055,00012,FF0,000a& Compute the number of preferre shares that !ere issue uring 20<6& b& Calculate the a'erage issue price of the common stock sol in 20<6&
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