*NEW* ACC 225: Week Seven Solution

ACC 225

Axia College of University of Phoenix (UoP)

Financial Accounting

Larson, K. D., Wild, J. J., & Chiappetta B. (2005). Fundamental accounting principles (17th ed.)

ACC 225 Week 7 Solution

2. CheckPoint: Accounting Information Systems and Special Journals (Post in the Individual Forum – Due Day 2)
• Resource: Fundamental Accounting Principles, pp. 289, 290, & 291
• Complete Quick Study questions 7-1 & 7-2 on p. 289, Quick Study 7-4 on p. 290 and Exercises 7-1, 7-4, 7-7, & 7-10 on pp. 290–291.

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*NEW* ACC 225: Week Six Solution

ACC 225

Axia College of University of Phoenix (UoP)

Financial Accounting

Larson, K. D., Wild, J. J., & Chiappetta B. (2005). Fundamental accounting principles (17th ed.)

ACC 225 Week 6 Solution

1. CheckPoint: Computing Inventory Balances and Lower of Cost or Market (Post in the Individual Forum – Due Day 2)
• Re-read Chapters 5 and 6
• Review Demonstration problem and solution. Try to complete sections on your own before reviewing solution.
• Resource: Fundamental Accounting Principles, pp. 247–249
• Complete Quick Study question 6-1 on p. 247 and Exercise 6-3 on p. 247 & Problem 6-3A on p. 252.

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2. Assignment: Estimating Inventory and Preparing Multiple-Step and Single-Step Income Statements (Post in the Individual Forum – Due Day 6)
• Resources: Fundamental Accounting Principles, pp. 251 & 256
• Complete Problems 5-4A on p. 212, 6-1B on p. 254, & 6-6A on p. 253 and 6-7A on p. 254.

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*NEW* ACC 225: Week Five Solution

ACC 225

Axia College of University of Phoenix (UoP)

Financial Accounting

Larson, K. D., Wild, J. J., & Chiappetta B. (2005). Fundamental accounting principles (17th ed.)

ACC 225 Week 5 Solution

2. CheckPoint: Inventory Systems and Calculating Revenues, Expenses, and Income (Post in the Individual Forum – Due Day 5)

• Resource: Fundamental Accounting Principles, pp. 206, 208, & 209.
• Complete additional modified Exercise in Excel that is posted in the main forum for week 5. Copy and paste the Excel format and complete.
• Complete Quick Study question 5-1 on p. 205, Quick Study question 5-9 on p. 206 and Exercise 5-8 on pp. 208.

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*NEW* ACC 225: Week Three Solution

ACC 225

Axia College of University of Phoenix (UoP)

Financial Accounting

Larson, K. D., Wild, J. J., & Chiappetta B. (2005). Fundamental accounting principles (17th ed.)

ACC 225 Week 3 Solution

2. CheckPoint: Adjustments and Accrual and Cash Basis Accounting (Post in the Individual Forum – Due Day 5)
• Resource: Fundamental Accounting Principles, pp. 116–118 & 120
• Complete Quick Study questions 3-1 & 3-9 on pp. 116 & 117 and Exercises 3-1 & 3-7 on pp. 118 & 120.

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DQ2 – Due Day 4 (Post in the Main forum in the thread I have created for DQ2)
Post must be 150-300 words.
• The Ritz Manor is a popular seaside resort. A double room costs $250 for one night. To reserve a room, guests must pay one night’s stay in advance. On each floor of the hotel, Vendalite Company operates vending machines with energy bars, juices, and other snacks for guests. Vendalite stocks the machines and collects revenue every week. Total average weekly revenue from these machines is $750. The Ritz Manor is entitled to 30% of the revenue from the machines. Vendalite sends a check to the Ritz Manor once at the end of each quarter for the resort’s share of the revenue.
o Based on this information, what are the adjusting entries Ritz Manor will need to record?
o Include in your response the amounts of the adjustments, which accounts are affected and why, and explain in detail how you determined the amounts.

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*NEW* ACC 225: Week Two Solution

ACC 225

Axia College of University of Phoenix (UoP)

Financial Accounting

Larson, K. D., Wild, J. J., & Chiappetta B. (2005). Fundamental accounting principles (17th ed.)

ACC 225 Week 2 Solution

1. CheckPoint: Debits and Credits (Post in the Individual Forum – Due Day 2)

• Resource: Fundamental Accounting Principles, p. 74 and p. 77 (also review Chapter 2)
• Post your answers to Quick Study questions 2-1, 2-4, and 2-5 (p. 74) and Exercise 2-9 (p. 77).

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2. Assignment: Preparing Journal Entries and Trial Balances (Post in the Individual Forum – Due Day 6)

• Resource: Fundamental Accounting Principles, pp. 76 & 80
• Complete Exercises 2-6 and 2-8 on p. 76 and 77 and Problem 2-3A on p. 81.

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ACC 225: Week Seven Solution

ACC 225

Axia College of University of Phoenix (UoP)

Financial Accounting

Larson, K. D., Wild, J. J., & Chiappetta B. (2005). Fundamental accounting principles (17th ed.)

ACC 225 Week 7 Solution

CheckPoint: Accounting Information Systems and Special Journals

• Resource: Fundamental Accounting Principles, pp. 289, 290, and 291
• Due Date: Day 5 [Individual] forum
• Complete Quick Study questions QS 7-1 and QS 7-3 on p. 289, and Exercises 7-1, 7-4,
7-7, and 7-10 on pp. 290-291.
• Post your answers as an attachment.
Click here for the SOLUTION

ACC 225: Week Six Solution

ACC 225

Axia College of University of Phoenix (UoP)

Financial Accounting

Larson, K. D., Wild, J. J., & Chiappetta B. (2005). Fundamental accounting principles (17th ed.)

ACC 225 Week 6 Solution

CheckPoint: Computing Inventory Balances and Lower of Cost or Market
• Resource: Fundamental Accounting Principles, pp. 247-249
• Due Date: Day 4 [Individual] forum
• Complete Quick Study question QS 6-1 on p. 247 and Exercises 6-1 and 6-5 on pp. 248
and 249.
Click here for the SOLUTION


Assignment: Estimating Inventory and Preparing Multiple-Step and Single-Step Income
Statements
• Resource: Fundamental Accounting Principles, pp. 251 and 256
• Due Date: Day 7 [Individual] forum
• Complete Problems 5-4A on p. 212, 6-1A on p. 251, and 6-6B and 6-7B on p. 256.
• Post your answers as an attachment.
Click here for the SOLUTION

ACC 225: Week Five Solution

ACC 225

Axia College of University of Phoenix (UoP)

Financial Accounting

Larson, K. D., Wild, J. J., & Chiappetta B. (2005). Fundamental accounting principles (17th ed.)

ACC 225 Week 5 Solution

Discussion Question 2
• Due Date: Day 4 [Main] forum
• Post your response to the following: Read the BTN5-3 Ethics Challenge on p. 218 of the
text. Discuss the ethics of what Amy is doing. Are there any consequences to her
actions? How does the store account for Amy’s returns?
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CheckPoint: Inventory Systems and Calculating Revenues, Expenses, and Income
• Resource: Fundamental Accounting Principles, pp. 206, 208, and 209.
• Due Date: Day 5 [Individual] forum
• Complete Quick Study question QS 5-8 on p. 206 and Exercises 5-9 and 5-13 on pp.
208-209.
• Post your answers as an attachment.
Click here for the SOLUTION

ACC 225: Week Three Solution

ACC 225

Axia College of University of Phoenix (UoP)

Financial Accounting

Larson, K. D., Wild, J. J., & Chiappetta B. (2005). Fundamental accounting principles (17th ed.)

ACC 225 Week 3 Solution

Discussion Question 2

• Due Date: Day 4 [Main] forum
• Post your response to the following: The Ritz Manor is a popular seaside resort. A
double room costs $220 for one night. In order to reserve a room, guests must pay one
night’s stay in advance. On each floor of the hotel, Vendalite Company operates vending
machines with energy bars, juices, and other snacks for guests. Vendalite stocks the
machines and collects revenue every week. Total average weekly revenue from these
machines is $720. The Ritz Manor is entitled to 30% of the revenue from the machines.
Vendalite sends a check to the Ritz Manor once at the end of each quarter for the resort’s
share of the revenue.
o Based on this information, what type of adjusting entries does the Ritz Manor have?
o How are the amounts of these adjustments determined?
o Which accounts are affected?
Click here for the SOLUTION



CheckPoint: Adjustments and Accrual and Cash Basis Accounting

• Resource: Fundamental Accounting Principles, pp. 116-118 and 120
• Due Date: Day 5 [Individual] forum
• Complete Quick Study questions QS 3-1 and QS 3-9 on pp. 116 and 117 and Exercises
3-1 and 3-7 on pp. 118 and 120.
• Post your answers as an attachment.
Click here for the SOLUTION

ACC 225: Week Two Solution

ACC 225

Axia College of University of Phoenix (UoP)

Financial Accounting

Larson, K. D., Wild, J. J., & Chiappetta B. (2005). Fundamental accounting principles (17th ed.)

ACC 225 Week 2 Solution

CheckPoint: Debits and Credits

• Resource: Fundamental Accounting Principles, p. 74
• Due Date: Day 4 [Individual] forum
• Post your answers to Quick Study questions QS 2-3, QS 2-4, and QS 2-5.

Click here for the SOLUTION



Assignment: Preparing Journal Entries and Trial Balances

• Resource: Fundamental Accounting Principles, pp. 76 and 80
• Due Date: Day 7 [Individual] forum
• Complete Exercises 2-4 and 2-5 on p. 76 and Problem 2-2A on p. 80.
• Post your answers as an attachment.

Click here for the SOLUTION

ACC 225: Week One Solution

ACC 225

Axia College of University of Phoenix (UoP)

Financial Accounting

Larson, K. D., Wild, J. J., & Chiappetta B. (2005). Fundamental accounting principles (17th ed.)

ACC 225 Week 1 Solution

Exercises: Accounting and Business Organizations

• Resource: Fundamental Accounting Principles, p. 30
• Due Date: Day 5
• Post your answers to Exercises 1-1 and 1-4

Click here for the SOLUTION