Acc 291 (Principles of Accounting Ii) Course Week 1 – 5

ACC 291 (Principles of Accounting II)

Course Week 1 – 5

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Week 1

Discussion Question 1

How would you describe the entries to record the disposition of accounts receivables? What is their function?

Discussion Question 2

How are bad debts accounted for under the direct write-off method? What are the disadvantages of this method?

Discussion Question 3

Why would you select the percentage of sales method for calculating doubtful accounts instead of the percentage of receivables method?

Discussion Question 4

What is the difference between revenue expenditures and capital expenditures during a useful life? Are there similarities?

Individual Assignment; Exercise E9 – 2

Week 2

Discussion Question 1

What are the differences among valuation, depreciation, amortization, and depletion?

Is it appropriate to calculate depreciation using two different methods? Why?

What does the Annual Report you are using for class say about depreciation?

Discussion Question 2

What types of industries have unearned revenue?

Why is unearned revenue considered a liability?

When is the unearned revenue recognized in the financial statements?

What does your Annual Report say about unearned revenue?

Discussion Question 3

Would you rather buy a bond at a discount or a premium rate? Why?

What is the determining factor of whether a bond is sold at a discount, face, or premium?

What does your annual statement say about bonds?

Discussion Question 4

How would you describe the accounting procedures for notes payable and accounts payable?

Individual Assignment; Exercise (E9-1 , E 9-12 , E9-7) Problem (P9-7B)

Learning Team Reflection

Week 3

Discussion Question 1

Why does a company choose to form as a corporation?

What are the steps required to become a corporation?

What are the advantages and disadvantages of the corporate form of doing business?

Discussion Question 2

Why is preferred stock referred to as preferred?

What are some...