Acct 301 Devry Entire Course Material

ACCT 301 DeVry Entire Course Material

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ACCT 301 (Essential of Accounting)

Week 1

ACCT 301 Week 1 Homework Problems

Week 2

Week 2: Internal Controls - Discussion

Describe what you think is the most important control activity that a company can implement. Why do you think that the one you chose is the most important?

Describe one of the three elements that are present when fraud occurs. Of the three elements, which do you think is present first in an ethical situation?

Week 2 Assignments:

ACCT 301 Week 2 Quiz (15 MCQ's)

(TCO 1) Which of the following would not be considered an external user of accounting data for XYZ Company?

(TCO 1) The cost of assets consumed or services used is also known as _________.

(TCO 1) The financial statement that summarizes the changes in retained earnings for a specific period of time is the _________.

(TCO 1) Pinson Company began the year with retained earnings of $210,000. During the year, the company recorded revenues of $300,000, expenses of $228,000, and paid dividends of $24,000. What was Pinson’s retained earnings at the end of the year?

(TCO 4) Which of the following statements is not true?

(TCO 4) Using the following balance sheet and income statement data, what is the current ratio? Current assets $7,000 Net income $12,000 Current liabilities 4,000 Stockholders’ equity 21,000 Total assets 30,000 Total liabilities 9,000 Average common shares outstanding was 10,000

(TCO 4) Using the following balance sheet and income statement data, what is the total amount of working capital? Current assets $7,000 Net income $12,000 Current liabilities 4,000 Stockholders’ equity 21,000 Total assets 30,000 Total liabilities 9,000 Average common shares outstanding was 10,000

(TCO 4) Using the following balance sheet and income statement data, what is...