Devry ACCT 504 Full Course Latest

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Devry ACCT 504 Full Course Latest

Devry ACCT 504 Full Course Latest [ all discussion, case study ,full course project and final ]

 

Devry ACCT 504 Week 1 Discussion DQ1 & DQ 2 Latest

DQ 1

The discussion in this area will revolve around what accounting is, who the key parties in the financial reporting process are, the role of generally accepted accounting principles in the preparation of financial statements, and the regulatory environment of financial reporting in the United States. The information being discussed here will be found partly in Chapters 1 and 2.

DQ 2

Details of Financial Statements and Ratios (graded)

For this discussion, we will talk about the primary financial statements published by a corporation, the various classifications used in a balance sheet, the relationships among different financial statements, and how the numbers from the different financial statements are analyzed together to evaluate the financial position and performance of a company. The information being discussed here will be found partly in Chapter 1 and mostly in Chapter 2.

In order to keep our discussion organized, we will go according to the following plan.

Balance sheet (We will begin with this statement.)

Income statement (We will begin this discussion on Wednesday morning.)

Statement of retained earnings (We will begin this discussion on Thursday night.)

Statement of cash flows (We will begin this discussion on Friday night.)

Earnings per share, current ratio, and debt to total assets (We will begin this discussion on Saturday night.)

Let’s begin by asking the question: What is the purpose of a balance sheet? What information does it provide?

Devry ACCT 504 Week 2 Discussion DQ1 & DQ 2 Latest

DQ 1

Accounting Equation and Accounting Cycle (graded)

In this area, we will discuss the significance of the accounting equation, the rules of debit and credit, and the steps in the accounting cycle. We will talk about recording of transactions, normal balances, and the creation of the trial balance.

Let’s begin by asking this question: What is the role of the accounting equation in the analysis of business transactions?

DQ 2

Accrual Accounting and Adjusting Entries (graded)

In this area, we will talk about the difference between cash-basis and accrual-basis accounting, the importance of revenue recognition and matching principles, and the role of adjusting and closing entries in the preparation of the income statement, statement of retained earnings, and balance sheet.

How is cash-basis accounting different from accrual-basis accounting?

Devry ACCT 504 Week 3 Discussion DQ1 & DQ 2 Latest

DQ 1

Merchandising Operations and Income Statements (graded)

In this area, we will discuss the accounting for inventory transactions of merchandising companies, the two formats of preparing the income statement, and how to evaluate the profitability of a merchandising company.

How is the income statement of a merchandising company different from that of a service company?

DQ 2

Inventory Cost-Flow Assumptions (graded)

In this area, we will talk about how companies determine the year-end inventory value and cost of goods sold using one of the cost-flow assumptions. We will also discuss the impact of choosing a certain cost-flow assumption on the tax liability and other financial statement numbers of a company. Finally, we will discuss how to analyze inventory numbers.

Why is inventory important for a business? How is inventory different from other assets of the business?

Devry ACCT 504 Week 4 Discussion DQ1 & DQ 2 Latest

DQ 1

Understanding Internal Control and Reporting Cash (graded)

In this thread, we will talk about the importance of internal control in a business organization and the definition and reporting of cash on the balance sheet.

What is internal control, and what are the objectives of a good internal control structure in an organization?

DQ 2

Accounting For and Reporting Receivables (graded)

Receivables constitute an important line item on a company’s balance sheet. In this thread, we will discuss the accounting for receivables, the ways to estimate uncollectible accounts, and how companies manage their receivables.

How do companies account for the possibility that some of their customers might not pay down the road?

Devry ACCT 504 Week 5 Discussion DQ1 & DQ 2 Latest

DQ 1

Plant Assets and Intangibles (graded)

Companies have a significant amount of investment in long-lived assets, which include property, plant and equipment (commonly referred to as plant assets), and intangible assets.

Let’s begin by talking about plant assets. Can you tell us what kind of plant assets are used in your company or place of business? Do you have an estimate of the amount invested in those plant assets?

DQ 2

Accounting for Liabilities (graded)

In this area, we will discuss different types of liabilities and understand how to account for and report those liabilities.

Why are liabilities classified on a balance sheet as current and noncurrent? Who wants to know? What is the benefit of knowing this information?

Devry ACCT 504 Week 6 Discussion DQ1 & DQ 2 Latest

DQ 1

Accounting for and Reporting Equity (graded)

Stockholders’ equity is an important heading in a corporate balance sheet. Let’s begin the discussion of stockholders’ equity by asking: How is the stockholders’ equity section of a corporate balance sheet different from that in a single-owner business?

DQ 2

Statement of Cash Flows (graded)

The statement of cash flows is an important financial statement that is required to be released along with the income statement and balance sheet by every publicly traded company. We did not have this requirement prior to the year 1988.

Let’s begin our discussion by asking this question: When we already have the income statement and balance sheet to tell us about the financial performance and financial health of a company, why was there a need to require companies to prepare a statement of cash flows?

Devry ACCT 504 Week 7 Discussion DQ1 & DQ 2 Latest

DQ 1

Issues in Income Reporting (graded)

By now, we all know that an income statement portrays the year-to-date performance of a business. However, the bottom-line figure in the income statement (that is, net income) is influenced by what is reported in the statement under the categories of revenues and expenses. Therefore, readers of the income statement have to carefully examine the income statement in evaluating the future profitability of a business.

What is the concept of sustainable income? Please describe it in your own words. Can you give an example of what this number may look like by using the income statement of a real-life company?

DQ 2

Different Tools of Financial Analysis (graded)

There are different tools for analyzing the financial statements of a company, such as horizontal analysis, vertical analysis, ratios for measuring financial health and profitability, and so forth. Before we begin using these tools, however, it is important to know the purpose of each tool.

Why do we need different tools for analyzing the financial statements? Don’t the numbers in the financial statements speak for themselves?

 

Devry ACCT 504 Week 3 Case Study Latest

Case Study 1 (Part A)

(Learning Objectives 4, 5, 6: Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions:

June

2

Gordon received $55,000 cash and issued common stock to the stockholders.

3

Purchased supplies, $3,000, and equipment, $5,200, on account.

4

Performed services for a client and received cash, $6,300.

7

Paid cash to acquire land, $37,000.

11

Performed services for a customer and billed the customer, $1,200. Johnson expects to collect within one month.

16

Paid partial for the equipment purchased June 3 on account $2,800.

17

Paid the telephone bill, $230.

18

Received partial payment from customer on account, $700.

22

Paid the water and electricity bills, $400.

29

Received $5,000 cash for repairing the pipes of a customer.

30

Paid employee salary, $4,300.

30

Declared and paid dividends of $3,000.

?Requirements

  1. 1.Record each transaction in the journal.Key each transaction by date. Explanations are not required.
  2. 2.Post the transactions to the T-accounts, using transaction dates as posting references.
  3. 3.Prepare the trial balance of Gordon Construction, Inc., at June30, 20xx.
  4. 4.The manager asks you how much in total resources the business has to work with and, how much it owes.

 

Case Study 1 (Part B)

Requirement 1

(Learning Objectives 3, 4: Adjust the accounts; construct the financial statements) Record the following month end adjusting entries for Gordon Construction, Inc. at June 30, 20xx

Month end accruals at June 30, 20xx:

  1. a.Accrued advertising revenue at June 30, $3,100.
  2. b.Supplies used during June, $2,300.
  3. c.Accrued salary expense at June 30 for Monday, Tuesday, and Wednesday.The five-day weekly payroll is $6,100 and will be paid on Friday.

Requirement 2

Prepare adjusted trial balance for Gordon Construction at June 30, 20xx.

 

Devry ACCT 504 Week 5 Case Study Latest

Case Study 2

Due by Sunday of Week 5, 11:59 p.m., Mountain time

(Learning Objectives 2, 4: Explain the components of internal control; evaluate internal controls) Each of the following situations reveals an internal control weakness:

Situation a. In evaluating the internal control over inventory for the Williams Oil Services Company, an auditor learns that the warehouse receiving clerk is responsible for ordering parts for supply inventory use in drilling services, counts the inventory when received at the dock, records the receipts into the inventory ledger, and takes the annual inventory, No supervisor reviews the receiving clerk’s work.

Situation b.Nicole Lopez handles employee travel and expense reports for Scott Sales Services. With the growth in the economy, the sales team began traveling extensively gaining new business. Because of the heavy volume, she no longer required the sales team to provide original airline, hotel, or car rental receipts. She told them to just keep their meals under the $100 per day per diem and no receipts were required. She allowed them to use their own credit cards so they could get the frequent flyer points. She required them to turn in a summary of the travel expenses quarterly.

Situation c. Michael Jordon is a new employee hired from Craig’s List recommended by a co-worker. Mike was hired as a Human Resource Assistant. Mike’s first day on the job he is told that he should follow his own judgments when deciding how employee issues such as hiring and firing of employees, sexual harassment, and ethical infractions should be handled.

Top of Form

?Requirements

  1. 1.Identify the missing internal control characteristic in each situation.
  2. 2.Identify each firm’s possible problem.
  3. 3.Propose a solution to the problem.

Bottom of Form

Category

Points

Description

Understanding

10

Demonstrate a strong grasp of the problem at hand. Demonstrate understanding of how the course concepts apply to the problem.

Analysis

30

Apply original thought to solving the business problem. Apply concepts from the course material correctly toward solving the business problem.

Execution

10

Write your answer clearly and succinctly using strong organization and proper grammar. Use citations correctly.

Total

50

A quality paper will meet or exceed all of the above requirements.

Devry ACCT 504 Week 6 Case Study Latest

ACCT 504 Case Study 3

(Learning Objective 5: Construct and use a cash budget) Nathan Farmer, chief financial officer of Wang Appliance Store, is responsible for the company’s budgeting process. Farmer’s staff is preparing the Wang cash budget for 2014. A key input to the budgeting process is last year’s statement of cash flows, which follows (amounts in thousands):

Wang Appliance Store

Statement of Cash Flows

2013

(in thousands)

Cash Flows from Operating Activities

Collections from customers $51,000

Interest Received 500

Purchase of inventory (36,000)

Operating expenses (10,200)

Net cash provided by operating activities 5,300

Cash Flows from Investing Activities

Purchase of equipment (3,500)

Purchase of investments (500)

Sale of investments 1,000

Net cash used for investing activities (3,000)

Cash Flows from Financing Activities

Payment of long term debt (400)

Issuance of Stock 2,000

Payment of cash dividends (500)

Net cash provided by financing activities 1,100

Cash

Increase (decrease) in Cash 3,400

Cash, beginning of year 2,900

Cash, end of year6,300

?Requirements

  1. 1.Prepare the Wang cash budget for 2014.Date the budget simply “2014” and denote the beginning and ending cash balances as “beginning” and “ending.” Assume the company expects 2014 to be the same as 2013, but with the following changes:
  2. a.In 2014, the company expects a 20% increase in collections from customers and a 30% increase in purchases of inventory.
  3. b.There will be no sales of investments in 2014.
  4. c.Wang does not plan to issue stock in 2014.
  5. d.Wang plans to end the year with a cash balance of $5,550.

 

Devry ACCT 504 Week 5 & 7 Course Project Assignments Latest

Your Course Project

Financial Statement Analysis Project—A Comparative Analysis of Oracle Corporation and Microsoft Corporation

Here is the link for the financial statements for Oracle Corporation for the fiscal year ending 2011. First, select 2011 using the drop-down arrow labeled Year on the right-hand side of the page, and then select Annual Reports using the drop-down arrow labeled Filing Type on the left-hand side of the page.

You should select the 10k dated 6/28/2011 and choose to download in PDF, Word, or Excel format.

http://www.oracle.com/us/corporate/investor-relations/sec/index.html

Here is the link for the financial statements for Microsoft Corporation for the fiscal year ending 2011. You need to press the word Go on the left-hand side of the page. Then you should select the 10k dated 7/28/2011 and choose to download in Word or Excel format.

http://www.microsoft.com/investor/SEC/default.aspx?year=2011&filing=annual

A sample project template is available for download in Doc Sharing. The sample project compares the ratio performance of Tootsie Roll and Hershey using the 2012 financial statements of Tootsie Roll and Hershey provided at their websites.

Description

This course contains a Course Project. You will be required to submit one draft of the project at the end of Week 5 and the final, completed project at the end of Week 7. Using the financial statements for Oracle Corporation and Microsoft Corporation, respectively, you will calculate and compare the financial ratios listed further down this documentfor the fiscal year ending 2011 and prepare your comments about the two companies’performance based on your ratio calculations.The entire project will be graded by the instructor at the end of the final submission in Week 7, and one grade will be assigned for the entire project.

Overall Requirements

For the Final Submission

Your final Excel workbook submission should contain the following items. You cannot use any software but Excel to complete this project.

  1. 1.A completed worksheet title page tab, which is really a coversheet with your name, the course, the date, your instructor’s name, and the title for the project.
  2. 2.A completed worksheet profiles tab that contains a one-paragraph description regarding each company with information about their histories, what products they sell, where they are located,and so on.
  3. 3.All 16 ratios for each company, with the supporting calculations and commentary on your worksheet ratio tab.Supporting calculations must be shown either as a formula or as text typed into a different cell. The ratios are listed further down this document.Your comments for each ratio should include more than just a definition of the ratio. You should focus on interpreting each ratio number for each company and support your comments with the numbers found in the ratios.
  4. 4.The Summary and Conclusions worksheet tab is an overall comparison of how each company compares in terms of the major category of ratios described in Chapter 13 of your textbook.A nice way to conclude is to state which company you think is the better investment and why.
  5. 5.The Bibliography worksheet tab must contain at least your textbook as a reference.Any other information you use to profile the companies should also be cited as a reference.

Required Ratios for Final Project Submission

  1. 1.Earnings per Share of Common Stock

Current Ratio

Gross Profit Margin

Rate of Return on Sales (Net Profit Margin)

Inventory Turnover

Days’ Inventory Outstanding (DIO)

  1. 7.Accounts Receivable Turnover
  2. 8.Days’ Sales Outstanding (DSO)

AssetTurnover

Rate of Return on Total Assets (ROA)

Debt Ratio

Times Interest Earned Ratio

Dividend Yield (For the purposes of this ratio, use Yahoo Finance to look up current dividend yield and stock price; just note the date that you looked up this information.)

Rate of Return on Common Stockholders’ Equity (ROE)

Free Cash Flow

Price/Earnings Ratio (Multiple)(For the purpose of this ratio, for Oracle, use the market price per share on May 30, 2011 and for Microsoft, use the market price per share on June 30, 2011.)

The Excel files uploaded in the Dropboxes should not include any unnecessary numbers or information (such as previous years’ ratios, ratios that were not specifically asked for in the project, etc.).

Please upload your final submission to the Week 7 Dropbox by the Sunday ending Week 7.

For the Draft

Create an Excel spreadsheet or use the project template to show your computations for the first 10 ratios listed above. The more you can complete regarding the other requirements, the closer you will be to completion when Week 7 arrives. Supporting calculations must be shown either as a formula or as text typed into a different cell. If you plan on creating your own spreadsheet, please follow the format provided in the Tootsie Roll and Hershey template file.

Please upload your draft submission to the Week 5 Dropbox by the Sunday at the end of Week 5.

Other Helpful information

If you feel uncomfortable with Excel, you can find many helpful references on Excel by performing a Google search.

Chapter 13 contains ratio calculations and comparison comments related to Apple and Dell; you will likely find this information helpful.

BigCharts.com provides historical stock quotes.

Either APA or MLA style can be used to complete the references on your Bibliography tab. There is a tutorial for APA and MLA style within the Syllabus.

Grade Information

The entire project will be graded by the instructor at the end of the final submission in Week 7, and one grade will be assigned for the entire project. The project will count for 18% of your overall course grade.

Category

Points

%

Description

Documentation

and Formatting

9

5%

The report will be submitted in the form of an Excel Workbook, with each page (worksheet) of the workbook named appropriately.Please do not use any other software (such as MS Works or Lotus) to complete the project. A quality report will include a title worksheet tab, a worksheet tab for theprofile of the two companies, a worksheet tab for the ratio calculations and comments, a worksheet tab for the summary and conclusion, proper citations if applicable, and a bibliography worksheet tab for the references.

Organization

and Cohesiveness

9

5%

A quality report will include the contentdescribed above in the documentation and formatting section. The ratios should be listed in the same order in which they appear in the project information above.

Editing

18

10%

A quality report will be free of any spelling, punctuation, or grammatical errors. Sentences and paragraphs will be clear, concise, and factually correct.Ratios will be expressed as numbers or percentages, depending on what is appropriate, as is shown in the textbook.Note that not all ratios are shown as percentages. Two decimal places are sufficient for each of the ratios.

Content

144

80%

A quality report will have correct ratio calculations and accurate supporting commentary. Any assumptions, if made, should be spelled out clearly. Supporting calculations must be shown either as a formula or as text typed into a different cell.

Total

180

100%

A quality report will meet or exceed all of the above requirements.

 

Devry ACCT 504 Final Exam Latest

(TCO A) A corporation has which of the following advantages? (Points : 5)

Reduced taxes

Simple to set up

Limited liability for stockholders

Owner maintains control

Question 2.2. (TCO A) Dividends flow through which one of the following statements? (Points : 5)

The Balance Sheet

The Statement of Retained Earnings

The Income Statement

None of the above

Question 3.3. (TCOs A and B) Below is a partial list of account balances for LBJ Company.

Cash

$12,000

Prepaid rent

1,300

Accounts receivable

7,000

Accounts payable

5,000

Notes payable

9,000

Common stock

22,000

Dividends

2,000

Revenues

45,000

Expenses

35,000

What did LBJ Company show as total debits? (Points : 5)

$57,300

$81,000

$55,300

$56,000

Question 4.4. (TCO B and E) Under cash-basis accounting, which of the following transactions would not be recorded? (Points : 5)

Cash sales to customers

Payments to vendors

Sales on account

Payroll payments to employees

Question 5.5. (TCO D) If ending inventory of the current year is understated (Points : 5)

Cost of goods sold for the current year will be understated

Gross profit for the current year will be unaffected

Gross profit for the current year will be understated

Net income for the current year will be overstated

Question 6.6. (TCO A and E) Equipment was purchased for $27,000. Freight charges amounted to $1,000 and there was a cost of $5,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $5,000 salvage value at the end of its 7-year useful life. Depreciation expense each year using the straight-line method will be _____. (Points : 5)

$4,714

$4,000

$3,857

$3,285

Question 7.7. (TCOs D and G) When the market rate of interest exceeds the stated rate of interest on the bond, the bond will require _____. (Points : 5)

a debit to Discount on Bonds Payable

a credit to Premium on Bonds Payable

a debit to Loss on Bonds Payable

a credit to Gain on Bonds Payable

Question 8.8. (TCO C) Which inventory accounting system does not require a physical count of the inventory at the year end? (Points : 5)

Periodic inventory system

Perpetual inventory system

Specific Identification

None of the above

Question 9.9. (TCO F) Horizontal analysis is also known as _____. (Points : 5)

ratio analysis

vertical analysis

common-size analysis

trend analysis

Question 10.10. (TCO F) When performing a common-size balance sheet, the 100% figure is _____. (Points : 5)

net sales

total liabilities

total assets

total equity

Question 11.11. (TCO F) Ratios are most useful in expressing _____. (Points : 5)

cause-and-effect relationships

the relationships between numbers

the delta between numbers

the root cause of the problem

Question 12.12. (TCO F) Creditors are usually most concerned with analyzing _____. (Points : 5)

the company stock price

turnover

liquidity

profitability

Question 13.13. (TCO F) Shareholders are usually most interested in evaluating _____. (Points : 5)

profitability

leverage

turnover

the ability to pay debts as they come due

Question 14.14. (TCO G) To calculate the market value of a bond, we need to _____. (Points : 5)

multiply the stated rate times the bond’s face value

calculate the present value of the principal only

calculate the present value of both the principal and the interest

calculate the present value of the interest only

  1. 1.TCO A) Below you will find selected information (in millions) from Coca-Cola Co.’s 2012 Annual Report.

Income Taxes Payable $471

Short-term Investments and Marketable Securities 8,109

Cash 8,442

Other non-current Liabilities 10,449

Common Stock 1,760

Receivables 4,812

Other Current Assets 2,973

Long-term Investments 10,448

Other Non-current Assets 3,585

Property, Plant and Equipment 23,486

Trademarks 6,527

Other Intangible Assets 20,810

Allowance for Doubtful Accounts 53

Accumulated Depreciation 9,010

Accounts Payable 8,680

Short Term Notes Payable 17,874

Prepaid Expenses 2,781

Other Current Liabilities 796

Long-Term Liabilities 14,736

Paid-in-Capital in Excess of Par Value 11,379

Retained Earnings 55,038

Inventories 3,264

Treasury Stock 35,009

Other information taken from the Annual Report.

Sales Revenue for 2012 $48,017

Cost of Goods Sold for 2012 19,053

Net Income for 2012 9,019

Inventory Balance on 12/31/11 3,092

Net Accounts Receivable Balance on 12/31/11 4,920

Total Assets on 12/31/11 79,974

Equity Balance on 12/31/11 31,921

Required: 1: Using the information provided above, prepare a multiple-step income statement.

2: Calculate the Profit Margin, and Gross profit rate for the company. Be sure to provide the formula you are using, show your calculations, and discuss your findings and results.

(Points : 36)

  1. 45.(TCO C) Please review the following real-world Hewlett Packard Statement of Cash flows and address the two questions below.

Cash flow from operating activities In millions In millions

For the year ended 2012 For the year ended 2011

Net (loss) earnings $(12,650) $7,074

Depreciation and amortization 5,095 4,984

Impairment of goodwill and purchased intangible assets 18,035 885

Stock-based compensation expense 635 685

Provision for doubtful accounts 142 81

Provision for inventory 277 217

Restructuring charges 2,266 645

Deferred taxes on earnings (711) 166

Excess tax benefit from stock-based competition (12) (163)

Other, net 265 (46)

Accounts and financing receivables 1,269 (227)

Inventory 890 (1,252)

Accounts payable (1,414) 275

Taxes on earnings (320) 610

Restructuring (840) (1,002)

Other assets and liabilities (2,356) (293)

Net cash provided by operating activities 10,571 12,639

Cash flows from investing activities:

Investment in property, plant, and equipment (3,706) (4,539)

Proceeds from sale of property, plant, and equipment 617 999

Purchases of available-for-sale securities and other investments (972) (96)

Maturities and sales of available-for-sale securities and other investment 662 68

Payments in connection with business acquisitions, net of cash acquired (141) (10,480)

Proceeds from business divestiture, net 87 89

Net cash used in investing activities (3,453) (13,959)

Cash flow from financing activities:

(Payments) issuance of commercial paper and notes payable, net (2,775) (1,270)

Issuance of debt 5,154 11,942

Payment of debt (4,333) (2,336)

Issuance of common stock under employee stock plans 716 896

Repurchase of common stock (1,619) (10,117)

Excess tax benefit from stock-based compensation 12 163

Cash dividends paid (1,015) (844)

Net cash used in financing activities (3,860) (1,566)

Increase (decrease) in cash and cash equivalents 3,258 (2,886)

Cash and cash equivalents at beginning of period 8,043 10,929

Cash and cash equivalents at end of period $11,301 $8,043

Required: 1: Please calculate the percentage increase or decrease in cash for the total line of the operating, investing, and financing sections bolded above and explain the major reasons for the increase or decrease for each of these sections. 2: Please calculate the free cash flow for 2012 and explain the meaning of this ratio. (Points : 36)

  1. 5.TCO F) Please review the following real-world ratios for Johnson & Johnson and Pfizer for the year ended 2012 and address the 2 questions below.

Ratio Name Johnson & Johnson Pfizer

Profit margin 16.1% 24.7%

Inventory turnover ratio 3.1 1.7

Average collection period 59.4 days 69.1 days

Cash debt coverage ratio .27 .16

Debt to Total assets 46.6% 127.5%

Required: 1: Please explain the meaning of each of the Pfizer ratios above. 2: Please state which company performed better for each ratio. (Points : 36)

 

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Devry ACCT 504 Full Course Latest

Best Devry ACCT 504 Full Course Latest

Devry ACCT 504 Full Course Latest