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ACCT-251 Introduction to Accounting Entire Course

Santacruz

ACCT-251 Introduction to Accounting Entire Course

 http://www.homeworkarena.com/acct251-introduction-to-accounting-

 

ACCT-251 Introduction to Accounting Entire Course

 

ACCT 251 week 1 DQ
Underestimating/Overestimating Peachtree (graded)
Automated accounting information systems, such as Peachtree Complete Accounting 2010, are powerful business tools. Identify and discuss how we may overestimate or underestimate the power of accounting information systems such as Peachtree Complete Accounting 2010.
This section lists options that can be used to view responses.
Accounting Knowledge (graded)
Many of you have taken at least one accounting class prior to taking this class. Explain how a person’s understanding of accounting may help or hurt him or her in his or her use of automated accounting information systems like Peachtree Complete Accounting 2010.
ACCT251 week 2 DQ
Maintaining Vendor Relationships (graded)
As you know, maintaining a strong & dependable relationship with your vendors is crucial to your business. How can systems like Peachtree Complete Accounting 2010 help you to maintain this relationship?
Payment Options (graded)
Most businesses allow their customers to use a variety of options (credit cards, store credit, check, cash, or e-cash like PayPal) when making payments. What are some of the challenges in offering a wide variety of payment options for firms that use systems like Peachtree Complete Accounting 2010?
ACCT 251 week 3 DQ
Employee Data (graded)
Assume that you have employees who live in one state and work in another. How does this affect your set up and use of an automated accounting system such as Peachtree Complete Accounting 2010 for payroll processing?
Chart of Accounts (graded)
Most automated accounting systems provide you with a chart of account (general ledger) that is already established. What are the challenges in relying on a pre-established chart of account?
ACCT 251 week 4 DQ
Job Costing Challenges (graded)
What are some of the challenges a bookkeeper will face when trying to utilize job costing in using Peachtree Complete Accounting 2010?
Financial Statements (graded)
You have created financial statements from your other accounting classes. These financial statements were created manually. How similar and/or different are these statements from the ones generated in an automated accounting system like Peachtree Complete Accounting 2010?
ACCT 251 week 5 DQ
Journals & Ledgers (graded)
What are the similarities and differences between manual-based journals/ledgers and automated accounting system journals/ledgers?
Closing the Books (graded)
As you close your books, what source document(s) are needed to help your close your books in an automated accounting systems?
ACCT251 week 6 DQ
Data Needed for Purchasing Activities (graded)
In order topurchase goods & services via an automated accounting system, we know that vendor data must be created correctly in Peachtree. Identify and discuss what is needed to be set-up correctly in Peachtree Complete Accounting 2010.
Data Needed for Sales Activities (graded)
In order to sell goods & services via an automated accounting system, we know that customer data must be created correctly in Peachtree. Identify and discuss what additional is needed to be set-up correctly in Peachtree Complete Accounting 2010.
ACCT251 week 7 DQ
Selection of an Inventory Method (graded)
There are several inventory methods that a firm can choose to use. How does a firm’s business type affects its selection of an inventory method in automated systems like Peachtree Complete Accounting 2010?
Payroll Reference Data (graded)
In order to process payroll correctly in an computerized accounting system, there are some important reference tables that must be updated on a periodic basis. Identify at least two key tables and explain their importance.

 

ACCT 251 Week 3 Quiz Latest
(TCO 1) The name of the sample company or companies included in the Peachtree Complete Accounting 2010 software is/are:
Pavilion Garden Supply.
Bellwether Garden Supply and Stone Arbor Landscaping.
Berkeley Custom Pools & Spas.
Stone Arbor Landscaping.
Fabrikam, Inc. and Northwind Traders.
Question 2. Question :
(TCO 1) To display the size of your backup file, you can use the Windows program called:
Windows Explorer.
scan disk.
defrag.
Windows Accessories.
Windows Defender.
Question 3. Question :
(TCO 1) The Options menu has selections that allow the user to:
check global settings and define an Internet connection.
Back up.
print reports.
enter journal entries.
post to the general ledger.
Question 4. Question :
(TCO 2) In the computer accounting cycle, the following report is not included:
adjusted trial balance.
unadjusted trial balance.
worksheet.
financial statements.
statement of cash flow.
Question 5. Question :
(TCO 6) The customer ID for Teesdale Real Estate is:
TEESDALE-01.
TEESDALE.
Teesdale-01.
Teesdale 01.
Teesdale Estate.
Question 6. Question :
(TCO 6) On the Navigation Bar, make the following selections to enter a sales invoice:
Customers & Sales page; click on the Customers icon and select View and Edit Customers.
Customers & Sales page; click on the Sales Invoices icon and select Set Up Invoice Defaults.
Tasks; Purchases/Receive Inventory.
Customers & Sales page; click on the Sales Invoices icon and select New Sales Invoice.
Inventory & Services page; click on the Invoice icon, select View and Edit Invoices.
Question 7. Question :
(TCO 6) The standard sales discount, in terms of number of days, for Bellwether Garden Supply is:
no sales discount is offered.
a discount if balance is paid in full within 10 days.
a discount if balance is paid in full within 15 days.
a discount if balance is paid in full within 20 days.
a discount if balance is paid in full within 25 days.
Question 8. Question :
(TCO 7) On the Navigation Bar, make the following selections to make a general journal entry:
Company page; click on the Chart of Accounts icon and select View and Edit Accounts.
Company page; link to General Journal Entry.
Banking page; click on the Write Checks icon and select New Check.
Company page; link to Restore a backup and click on the General Journal Entry icon.
Maintain; select General Journal record.
Question 9. Question :
(TCO 7) To transfer money to the money market fund, make the following type of entry:
General Journal.
Payments.
Receipts.
Tasks.
Maintenance.
Question 10. Question :
(TCO 7)
 If your GL Account columns and A/P Account field are not displayed on the
Purchases/Receive Inventory window, you need to:
check the Tasks windows.
check the maintenance menus.
click on Options; Global; uncheck the three boxes in the Hide General Ledger Accounts section.
reset the defaults in the Accounting Behind the Screens selection.
do nothing; Accounting Behind the Screens cannot be changed.
Question 11. Question :
(TCO 9)
 The contact name for the vendor Anderson’s Landscaping is:
Jesse Wood.
Jerry Johnson.
Steven Cole.
Frank Anderson.
Lilio Chomette.
Question 12. Question :
(TCO 9) The purchase account for Anderson’s Landscaping is:
57200, Materials Cost.
57000, Direct Labor.
57000 – LS, Direct Labor – Landscaping.
57200 – LS, Materials Cost – Landscaping.
14700, Other Current Assets.
Question 13. Question :
(TCO 9) The following accounts are debited and credited when you purchase inventory on account:
Dr. Inventory account; Cr. Accounts Receivable/Vendor.
Dr. Accounts Payable/Vendor; Cr. Expense account.
Dr. Inventory account; Cr. Accounts Payable/Vendor.
Dr. Accounts Receivable/Customer; Cr. Sales account.
Dr. Accounts Payable/Vendor; Cr. Inventory account.
Question 14. Question :
(TCO 10) To set up specific guidelines for individual employees, make these selections:
Employee tasks; click Employees, Employee Maintenance, make appropriate selection.
Tasks; Select for Payment, select Employee.
Maintain; Default Information, Employees.
Employees & Payroll page, click Employees, View and Edit Employees.
Tasks; Payroll for one employee.
Question 15. Question :
(TCO 10)
 To look at an employee’s record, display this window:
Payroll Entry window.
Tasks; Employees.
Maintain Employees & Sales Reps.
Company; General Journal entry.
Employees & Tasks page; click Employees.
Question 16. Question :
(TCO 10) On the Employee Defaults window, the Employee Fields tab is for:
liability accounts that are related to employee deductions.
assets accounts that are related to employee deductions.
expense accounts that are related to employee deductions.
lability accounts that are related to employer deductions.
expense accounts that are deducted from liabilities.
ACCT 251 Week 6 Quiz

(TCO 1) The balance sheet lists:
: assets, liabilities, and capital of a business.
revenues and expenses of a business.
the percentage of revenue at the end of the year.
the percentage of debt at the end of the year.
cash disbursements.
Question 2. Question :
(TCO 1)
 The Income Statement’s net income or (net loss) is also shown on the:
: income statement’s revenue section.
balance sheet’s capital section.
departmental gross profit totals.
cash balance at the end of the period.
general ledger trial balance.
Question 3. Question :
(TCO 1) To use Peachtree’s masking feature, do the following to an account number.
: Add a prefix.
Add a suffix.
Add an account number.
Change the account in the general journal.
Change the account type.
Question 4. Question :
(TCO 2)
 The sample company chart of accounts that you use as the model for Chapter 9’s business is:
: accounting practice.
general contractor.
gift shop.
service company.
retail company.
Question 5. Question :
(TCO 2)
 The chart of accounts is:
: the accounts shown on the income statement.
the accounts shown on the balance sheet.
a list of accounts in the general ledger.
a list of accounts in the general journal.
a list showing account beginning balances.
Question 6. Question :
(TCO 2) The account type for Account No. 3920 (Vernon Firestone) [or your name] capital is:
: cash.
equity-gets closed.
equity-doesn’t close.
retained earning.
other current liabilities.
Question 7. Question :
(TCO 3) In Chapter 11, the ______________________________ is completed before recording and posting the end-of-quarter adjusting entries.
: adjusted trial balance
cash disbursements journal
unadjusted trial balance
cash receipts journal
post-closing trial balance
Question 8. Question :
(TCO 3) To print a post-closing trial balance, you need to:
: select Tasks; System, change accounting periods.
select Reports & Forms; Accounts Receivable, print reports.
select Options; Default Information.
select Help; About Peachtree Accounting.
close the fiscal year, then print a trial balance.
Question 9. Question :
(TCO 4) If your journals do not agree with the textbook illustrations, use the following Peachtree feature:
: Maintain; defaults, general ledger.
Edit journal transactions.
Tasks; general journal transaction.
Maintain chart of accounts.
Company page; link to restore.
Question 10. Question :
(TCO 4) The December 31 balance in Mr. Firestone’s retained earnings account (Account No. 3910) is:
: Revenue minus expenses.
assets minus liabilities plus owner’s equity.
year-to-date net income plus the total of the drawing account.
year-to-date net income minus the total of the drawing account.
capital minus drawing.
Question 11. Question :
(TCO 5) To change an entry on the Write Checks window or Receipts window, do this:
: make a completely new entry.
delete the record.
add a transaction line.
select Maintain; Chart of Accounts.
edit the record.
Question 12. Question :
(TCO 5) The Write Checks window automatically debits the following account:
: Account No. 1020, Checking Account.
the Expense account selected.
You need to select the account credited, not debited.
Account No. 1040, IRA Savings.
Account No. 1010, Money Market.
Question 13. Question :
(TCO 5) In Chapter 10, you do the following:
: set up a retail business.
select November 2010 as the accounting period.
record deposits, checks, and ATMs.
print the chart of accounts.
record purchase invoices.
Question 14. Question :
(TCO 6) On the Navigation Bar, make the following selections to apply the sale of an irrigation system to the Franklin Botanical Gardens job:
: Customers & Sales page; click on the Sales Invoices icon and select New Sales Invoice.
Customers & Sales page; click on the Sales Invoices icon and select View and Edit Sales Invoices.
Vendor & Purchases page; click on Purchase Orders and select new Purchase Order.
Customers & Sales page; click on the Jobs icon and select New Jobs.
Inventory & Services page; select the Inventory Items icon, then select View and Edit.
Question 15. Question :
(TCO 6) The start date for the Franklin Botanical Gardens job is:
: January 3, 2010.
February 3, 2010.
March 3, 2010.
March 4, 2010.
April 3, 2010.
Question 16. Question :
(TCO 6) After completing the exercises in Chapter 5, restore the following backup to start Chapter 6:
: Chapter 5.ptb.
Exercise 5.ptb.
Exercise 5-2.ptb.
Exercise 5-1.ptb.
Bgs.ptb.

 

 

ACCT 251 Course Project
Course Project: Peachtree Project
Note!
Submit your assignment to the Dropbox located on the silver tab at the top of this page.
(See the Syllabus section “Due Dates for Assignments & Exams” for due dates.)
Your Assignment| Grading Rubrics
Your Assignment
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Students will be required to complete a project in this class that tests their knowledge & skills in managing the books for a small business using Peachtree Complete Accounting 2010. The assignments that you will be completing during Week 1 – 4 focus on specific Peachtree skills; however, this assignment allows you to use what you have learned about Peachtree to manage the books for a firm without \’step-by-step\’ guidance, which is typical for assignments you will see in the workplace.
You will complete Project 1 (Susan Watson Accounting), which is located at the end of C

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