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AC 113 UNIT 5 ASSIGNMENT Unit 5 Assignment: This week's Assignment will introduce gross profit for a merchandising business, review the income statement and understand how to determine net sales, gross profit, and expenses. Your Assignment consists of the following: Exercises 4-1, 4-6 and 4-7 Templates are requiredto use for the Assignments. Download the template from the spreadsheet icon below. To assist you in making sure that you are on t

Other / Other Kaplan University / AC 113 18 Aug 2017

AC 113 UNIT 5 QUIZ 1. Question : When using the indirect method of preparing the statement of cash flows, how is each of the following items treated? Depreciation expense Increase in a current asset Student Answer: Add Subtract Add Add Subtract Add Subtract Subtract Question2.

Other / Other Kaplan University / AC 113 18 Aug 2017

AC 113 UNIT 5 EXAM Question1. Question : Cash and other assets that are expected to be converted to cash, or sold or, used up within one year or less through the normal operations of the business, are called Student Answer: current assets intangible assets fixed assets notes receivable

Other / Other Kaplan University / AC 113 18 Aug 2017

AC 113 UNIT 5 DISCUSSIOMN Unit 5: Unit 5: Accounting for Merchandising Businesses - Discussion Unit 5 Discussion: Accounting for the sale of merchandise, purchase of merchandise, and accounting for freight and sales tax is important for a Merchandising business. In Merchandising businesses, there is a dual nature to the transactions. In this Discussion, you will look at merchandise shrinkage as well as the financial statements for a merchandis

Other / Other Kaplan University / AC 113 18 Aug 2017

AC 113 UNIT 4 QUIZ 1. Question : Which of the following is an example of accrued revenue? Student Answer: interest accrued on a note receivable interest accrued on a note payable unearned revenues accounts payable Question2. Question : Which of the following methods of account

Other / Other Kaplan University / AC 113 16 Aug 2017

AC 113 UNIT 4 EXAM Question1. Question : Cash and other assets that are expected to be converted to cash, or sold or, used up within one year or less through the normal operations of the business, are called Student Answer: current assets intangible assets fixed assets notes receivable

Other / Other Kaplan University / AC 113 16 Aug 2017

AC 113 UNIT 4 DISCUSSION Unit 4: Unit 4: Accrual Accounting Concepts - Discussion Unit 4 Discussion: Adjustments are very important in accrual-based accounting in ensuring that the balances of accounts are correct before preparation of the financial statements. In this Discussion, you will look at adjustment data and how it affects the integrated financial statement framework. This week’s Discussionfocuses on Activity 3-3located on page

Other / Other Kaplan University / AC 113 16 Aug 2017

AC 113 UNIT 4 ASSIGNMENT Unit 4 Assignment: This week's Assignment will introduce you to accruals and deferral along with how to make adjustments for accrued expenses, adjustments for depreciation, and how to prepare a classified balance sheet. Your Assignment consists of the following: Exercises 3-7, 3-8, and 3-20 Templates are requiredto use for the Assignments. Download the template from the spreadsheet icon below. To assist you in making

Other / Other Kaplan University / AC 113 16 Aug 2017

AC 113 UNIT 3 ASSIGNMENT Unit 3 Assignment: This week's Assignment will introduce you to accruals and deferral along with how to make adjustments for accrued expenses, adjustments for depreciation, and how to prepare a classified balance sheet. Your Assignment consists of the following: Exercises 3-6, 3-13, 3-23 and 3-26 Templates are requiredto use for the Assignments. Download the template from the spreadsheet icon below. To assist you in

Other / Other Kaplan University / AC 113 16 Aug 2017

AC 113 UNIT 3 QUIZ 1. Question : A&M Co. provided services of $1,000,000 to clients on account. How does this transaction affect A&M's accounts? Student Answer: If using the accrual method, increase accounts receivable and cash by $1,000,000 each If using the accrual method, increase accounts receivable and revenues by $1,000,000 each If

Other / Other Kaplan University / AC 113 16 Aug 2017