Acc 205 Entire Course (Assignments – Dqs – Dqs Journal – and 4 Finals) New Essay

1824 WordsJun 4, 20158 Pages
ACC 205 Entire Course (Assignments – Dqs – Dqs Journal – And 4 Finals) New IF You Want To Purcahse A+ Work then Click The Link Below For Instant Down Load http://acehomework.com/ACC-205-Complete-Class-Assignmnts-Dqs-4-Finals-Latest-Work-5454545455.htm IF You Face Any Problem Then E Mail Us At JOHNMATE1122@GMAIL.COM WEEK 1 ASSIGNMENT: ACC 205 Week One Exercise; Basic Accounting Equations 1. Recognition of normal balances The following items appeared in the accounting records of Triguero's, a retail music store that also sponsors concerts. Classify each of the items as an asset, liability, revenue, or expense from the company's viewpoint. Also indicate the normal account balance of each item. a. The albums, tapes, and CDs held for sale to customers. b. A long-term loan owed to Citizens Bank. c. Promotional costs to publicize a concert. d. Daily sales of merchandise sold, e. Amounts due from customers, f. Land held as an investment, g. A new fax machine purchased for office use. h. Amounts to be paid in 10 days to suppliers, i. Amounts paid to a mall for rent. 1. Recognition of normal balances Asset Liability revenue expenses Normal balances debit credit credit debit a. The albums, tapes, and CDs held for sale to customers. asset b. A long-term loan owed to Citizens Bank. liability . c. Promotional costs to publicize a concert expense d. Daily sales of merchandise sold revenue e. Amounts due from customers asset f. Land held as an investment asset g. A new fax machine purchased for office use asset h. Amounts to be paid in 10 days to suppliers liability i. Amounts paid to a mall for rent. expense WEEK 1 DQS AND JOURNAL DQ 1: As you have learned in this week’s readings the Accounting Equation is Assets = Liabilities + Owners’ Equity. Is the accounting equation true in
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