Get help for Ashford-University ACC 205 Homework Help. Owners’ Equity. Is the accounting equation true in all instances? Provide sample transactions from your own experiences to demonstrate the validity of the Accounting Equation. Review several of your peers’ posts and identify some core components that you feel should be included in every transaction. Respond to at least two of your peers and provide recommendations to extend their thinking. Challenge your peers by asking a question that may cause them to reevaluate or add components to their transactions. What does the term account mean? What are the different classifications of accounts? How do the rules for debits and credits impact accounts? Please provide an example of how debits and credits impact accounts. Analyze several of your peers’ posts. Let at least two of your peers know if this knowledge could be used in their everyday lives. If not, why not? What is the purpose of a bank reconciliation? What are the reasons for differences between the cash reported in the accounting records, and the cash balance in the bank statements? Analyze several of your peers’ posts.

Let at least two of your peers know what happens to the discrepancies between the book balance and the bank balance. Could these differences just be written off? A bank reconciliation reconciles the bank account balance per the books to the actual bank balance. Outstanding checks, deposits in transit, and bank errors are reasons there are differences between the cash reported in the accounting records and the cash balance in the bank statements. Carefully review the Discussion Forum Grading Rubric for the criteria that will be used to evaluate this Discussion Thread. 1. Listen to the Guidance Report Video. 2. Listen to the video below for the exercise/problem. The video completes the problems using the book numbers. 3. Open the Guidance Report and rework the problem with the changed numbers and place your answers on the guidance report. Do not alter the guidance report. 4. Submit the guidance report using the Assignment Submission tab below. Carefully review the Grading Rubric for the criteria that will be used to evaluate your assignment. 1. Listen to the video below for the exercise/problem. The video completes the problems using the book numbers.

2. Open the Guidance Report and rework the problem with the changed numbers and place your answers on the guidance report. Do not alter the guidance report. 3. Submit the guidance report using the Assignment Submission tab below. Carefully review the Grading Rubric for the criteria that will be used to evaluate your assignment. The controller of Sage hen Enterprises believes that the company should switch from the LIFO method to the FIFO method. The controller’s bonus is based on the next income. It is the controller’s belief that the switch in inventory methods would increase the net income of the company. What are the differences between the LIFO and FIFO methods? Analyze several of your peers’ posts. Let at least two of your peers know if a company is better off if it switches from a LIFO method to a FIFO method. A variety of depreciation methods are used to allocate the cost of an asset to all of the accounting periods benefited by the use of the asset. 100,000. Explain the concept of depreciation.

Which of the following depreciation methods would you recommend: straight-line depreciation, double declining balance method, or an alternative method? Let at least two of your peers know if a company would use an accelerated depreciation method for their financial statements or their tax returns. Why do you believe this would be the case? 1. Listen to the video below for the exercise/problem. The video completes the problems using the book numbers. 2. Open the Guidance Report and rework the problem with the changed numbers and place your answers on the guidance report. Do not alter the guidance report. 3. Submit the guidance report using the Assignment Submission tab below. What is a current liability? From the perspective of a user of financial statements, why do you believe current liabilities are separated from long-term liabilities? Based on your current experience as well as any additional research you may have done, provide two examples of situations where businesses collect monies from customers and employees and report these amounts as a current liability.

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