03 May acc 206 Home
Student Guidance Report
| Ashford University ACC206 | ||||||||
| Guidance Report | ||||||||
| Week One | ||||||||
| LISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDANCE REPORT | Guidance Report Download Date | 11/28/17 | Guidance Report Revision Date | 12/1/17 | ||||
| YELLOW INDICATES ACCOUNT AMOUNTS CHANGED | ||||||||
| Change Account to: | ||||||||
| Based Upon Course Start Date | ||||||||
| Exercise/ Problem | Account to be changed | Original Amount | Jan-Feb | Mar-Apr | May-Jun | Jul-Aug | Sept-Oct | Nov-Dec |
| Ch 1 Ex 2 | Net income | 107000 | $ 109,000 | $ 111,000 | $ 113,000 | $ 115,000 | $ 120,000 | $ 121,000 |
| Depreciation | 12600 | $ 13,000 | $ 15,000 | $ 16,000 | $ 18,000 | $ 20,000 | $ 21,000 | |
| Accounts payable | 21000 | $ 22,000 | $ 23,000 | $ 24,000 | $ 25,000 | $ 26,000 | $ 27,000 | |
| Questions | YOUR ANSWERS BASED UPON COURSE START DATE | |||||||
| Net Income | ||||||||
| Accounts receivable | ||||||||
| Inventory | ||||||||
| Accounts payable | ||||||||
| Depreciation | ||||||||
| Cash Flow from Operating Activities | ||||||||
| Account to be changed | Original Amount | Jan-Feb | Mar-Apr | May-Jun | Jul-Aug | Sept-Oct | Nov-Dec | |
| Ch 1 Ex 3 | Net Income | 110000 | $ 112,000 | $ 114,000 | $ 116,000 | $ 117,000 | $ 118,000 | $ 120,000 |
| Trade accounts receivable | 18000 | $ 246,000 | $ 248,000 | $ 249,000 | $ 250,000 | $ 255,000 | $ 256,000 | |
| Merchandise inventory | 230000 | $ 231,000 | $ 232,000 | $ 232,000 | $ 235,000 | $ 240,000 | $ 241,000 | |
| Accumulated depreciation: equipment | 120000 | $ 121,000 | $ 122,000 | $ 124,000 | $ 125,000 | $ 130,000 | $ 141,000 | |
| Accounts payable | 190000 | $ 191,000 | $ 193,000 | $ 194,000 | $ 195,000 | $ 200,000 | $ 201,000 | |
| Accrued liabilities | 38000 | $ 39,000 | $ 40,000 | $ 41,000 | $ 45,000 | $ 45,000 | $ 46,000 | |
| Gain on sale of investments | 18000 | $ 18,000 | $ 18,000 | $ 18,000 | $ 18,000 | $ 18,000 | $ 18,000 | |
| YOUR ANSWERS BASED UPON COURSE START DATE | ||||||||
| Net Income | ||||||||
| Trade accounts receivable | ||||||||
| Merchandise inventory | ||||||||
| Accumulated depreciation: equipment | ||||||||
| Accounts payable | ||||||||
| Accrued liabilities | ||||||||
| Gain on sale of investments | ||||||||
| Cash Flow from Operating Activities | ||||||||
| Ch 1 Ex 6 | Account to be changed | Original Amount | Jan-Feb | Mar-Apr | May-Jun | Jul-Aug | Sept-Oct | Nov-Dec |
| Dec. 31, 20X4 | ||||||||
| New equipment purchased | 280000 | $ 290,000 | $ 295,000 | $ 296,000 | $ 297,000 | $ 298,000 | $ 299,000 | |
| Depreciation expense | 41000 | $ 42,000 | $ 43,000 | $ 44,000 | $ 45,000 | $ 46,000 | $ 47,000 | |
| YOUR ANSWERS BASED UPON COURSE START DATE | ||||||||
| Cost of equipment sold | ||||||||
| Accumulated depreciation of sold equipment | ||||||||
| Selling price of equipment sold | ||||||||
| Sale of equipment on cash flow statement | ||||||||
| Ch 1 Pb 2 | ||||||||
| Account to be changed | Original Amount | Jan-Feb | Mar-Apr | May-Jun | Jul-Aug | Sept-Oct | Nov-Dec | |
| Accounts payable decreased | 32800 | $ 33,800 | $ 34,800 | $ 35,800 | $ 36,800 | $ 37,800 | $ 38,800 | |
| Accounts receivable increased | 23700 | $ 24,275 | $ 24,850 | $ 25,425 | $ 26,000 | $ 26,575 | $ 27,150 | |
| Prepaid expenses increased | 2400 | $ 2,975 | $ 3,550 | $ 4,125 | $ 4,700 | $ 5,275 | $ 5,850 | |
| wages payable increased | 5600 | $ 6,175 | $ 6,750 | $ 7,325 | $ 7,900 | $ 8,475 | $ 9,050 | |
| Income taxes payable decreased | 800 | $ 1,375 | $ 1,950 | $ 2,525 | $ 3,100 | $ 3,675 | $ 4,250 | |
| YOUR ANSWERS BASED UPON COURSE START DATE | ||||||||
| Direct Method | ||||||||
| Cash collected | ||||||||
| Less cash paid for: | ||||||||
| Inventory | ||||||||
| Selling & administrative | ||||||||
| Interest expense | ||||||||
| Income taxes | ||||||||
| Net cash provided by operating activities | ||||||||
| Indirect Method | ||||||||
| Net income | ||||||||
| Accounts payable decreased | ||||||||
| Accounts receivable increased | ||||||||
| Prepaid expenses increased | ||||||||
| wages payable increased | ||||||||
| Inventory | ||||||||
| Income taxes payable decreased | ||||||||
| Depreciation | ||||||||
| Gain on sale of equipment | ||||||||
| Net cash provided by operating activities | ||||||||
| CH 1 Pb 3 | Account to be changed | Original Amount | Jan-Feb | Mar-Apr | May-Jun | Jul-Aug | Sept-Oct | Nov-Dec |
| Accounts receivable (net) | 83800 | $ 84,800 | $ 85,800 | $ 86,800 | $ 87,800 | $ 88,800 | $ 89,800 | |
| Inventory | 243400 | $ 244,400 | $ 245,400 | $ 246,400 | $ 247,400 | $ 248,400 | $ 249,400 | |
| Accounts payable | 123600 | $ 124,600 | $ 125,600 | $ 126,600 | $ 127,600 | $ 128,600 | $ 129,600 | |
| Taxes payable | 43600 | $ 44,600 | $ 45,600 | $ 46,600 | $ 47,600 | $ 43,600 | $ 43,600 | |
| Sales | 713800 | $ 718,000 | $ 723,000 | $ 728,000 | $ 733,000 | $ 738,000 | $ 748,000 | |
| Net income | 145800 | $ 150,000 | $ 155,000 | $ 160,000 | $ 165,000 | $ 170,000 | $ 180,000 | |
| Long tem investments purchased | 74600 | $ 75,600 | $ 76,600 | $ 77,600 | $ 78,600 | $ 79,600 | $ 80,600 | |
| Sale of land cash proceeds | 76200 | $ 77,200 | $ 78,200 | $ 79,200 | $ 80,200 | $ 81,200 | $ 82,200 | |
| Store equipment purchased – short term note | 44000 | $ 45,000 | $ 46,000 | $ 47,000 | $ 48,000 | $ 49,000 | $ 50,000 | |
| Purchased equipment issue 3000 pref shares | 150000 | $ 151,000 | $ 152,000 | $ 153,000 | $ 154,000 | $ 155,000 | $ 156,000 | |
| Long term note repaid | 49400 | $ 49,900 | $ 50,400 | $ 50,900 | $ 51,400 | $ 51,900 | $ 52,400 | |
| Common stock issued – shares | 20000 | 20500 | 21000 | 21500 | 22000 | 22500 | 23000 | |
| YOUR ANSWERS BASED UPON COURSE START DATE | ||||||||
| Prepare the operating activities section of the statement of cash flows by using the direct method. | ||||||||
| Cash collected | ||||||||
| Less cash paid for: | ||||||||
| Inventory | ||||||||
| Selling & administrative | ||||||||
| Interest expense | ||||||||
| Income taxes | ||||||||
| Net cash provided by operating activities | ||||||||
| Prepare the operating activities section of the statement of cash flows by using the indirect method. | ||||||||
| Net income | ||||||||
| Accounts receivable | ||||||||
| Inventory | ||||||||
| Prepaid expenses | ||||||||
| Accounts payable | ||||||||
| Taxes payable | ||||||||
| Interest payable | ||||||||
| Accrued liabilities | ||||||||
| Gain on sale of land | ||||||||
| Depreciation | ||||||||
| Net cash provided by operating activities | ||||||||
| Prepare the investing and financing activities sections of the statement of cash flows. | ||||||||
| Cash flows from investing activities | ||||||||
| Purchase of long-term investments | ||||||||
| Proceeds from sale of land | ||||||||
| Net cash provided by investing act. | ||||||||
| Cash flows from financing activities | ||||||||
| Repayment of long-term note | ||||||||
| Issuance of common stock* | ||||||||
| Dividends paid | ||||||||
| Net cash used by financing activities | ||||||||
| * 20,000 shares X $5.19 = $103,800 | ||||||||
| Note: The store equipment and telecommunications system transactions would be reported as noncash investing/ financing activities |
Sheet1
| Guidance Report Download Date | 11/28/17 | Guidance Report Revision Date | 12/1/17 |
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.