AC 113 Accounting For The Non-Accounting Major

AC 113 UNIT 3 DISCUSSION Unit 3: Unit 3: Accrual Accounting Concepts - Discussion Unit 3 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 deferrals and accruals and how they affect the financial statement framework. This Discussion is based on Exercise 3-1 in the text on page 115. De

7 Other / Other Kaplan University / AC 113 16 Aug 2017

AC 113 UNIT 2 QUIZ 1. Question : Which of the following would result in no net change in assets? Student Answer: Stock issued for cash Expenses paid with cash Cash collected for fees earned Equipment purchased for cash Question2. Question : A to Z Corporation engaged in the fo

5 Other / Other Kaplan University / AC 113 16 Aug 2017

AC 113 UNIT 2 EXAM 1. Question : Which concept requires accounting records be base on verifiable and objective evidence? Student Answer: Matching Objectivity Going concern Cost Question2. Question : Which accounts are found on the income statement?

15 Other / Other Kaplan University / AC 113 16 Aug 2017

AC 113 UNIT 2 DISCUSSION Unit 2: Unit 2: Basic Accounting Concepts - Discussion Unit 2 Discussion: Throughout this course, many discussion opportunities come up where you need to respond to other people's opinions and comments. Address the Discussion topic after you have completed your Reading. Basic accounting concepts are very important in understanding how businesses record and summarize transactions. In this Discussion, you will look at t

7 Other / Other Kaplan University / AC 113 16 Aug 2017

AC 113 UNIT 2 ASSIGNMENT Unit 2 Assignment: This week's Assignment will provide you with information on how transactions affect the accounting equation. In addition, the Assignment will help to understand how to prepare an income statement, retained earnings statement, and a balance sheet. Your Assignment consists of the following: Exercises 2-7, 2-17, 2-18 and 2-19 Templates are requiredto use for the Assignments. Download the template from

15 Other / Other Kaplan University / AC 113 16 Aug 2017

AC 113 UNIT 1 QUIZ 1. Question : Accounting: Student Answer: Can be divided into two major areas – financial accounting and managerial accounting Is the means by which business information is communicated to the stakeholders Is sometimes called the language of business All answers are correct

5 Other / Other Kaplan University / AC 113 16 Aug 2017

AC 113 UNIT 1 DISCUSSION Unit 1: Unit 1: Introduction to Accounting in Business - Discussion Topic 1: This week’s Discussionfocuses on Activity 1-2located on page 41 of your textbook, which reads as follows: Loretta Smith, president and owner of Custom Enterprises, applied for a $250,000 loan from City National Bank. The bank requested financial statements from Custom Enterprises as a basis for granting the loan. Loretta has told her ac

7 Other / Other Kaplan University / AC 113 16 Aug 2017

AC 113 UNIT 1 ASSIGNMENT Unit 1 Assignment: In this Assignment you will identify the terms of business entities, (i.e., manufacturing, service or merchandising), and the items found on the financial statements (i.e., revenue, expenses, assets, liabilities) and identify the activities found on the statement of cash flow. Your Assignment consists of the following: Exercises 1-1, 1-6, 1-12, and 1-18 Templates are requiredto use for the Assignme

10 Other / Other Kaplan University / AC 113 16 Aug 2017