Problems will receive a grade for completeness not accuracy
Last updated: 1/25/2023
Problems will receive a grade for completeness not accuracy To receive the points for any assignment students MUST show their work Problem can be completed multiple ways on paper then photographed and uploaded into the corresponding Dropbox in Excel or in Word If homework is completed in Excel work doesn t need to be typed out if the functions can be viewed in the formula bar Once problems are completed the answer key will be given for the completed problems If a student needs assistance with a specific problem they should post a request in the Questions Comments Discussion for the corresponding chapter then a similar problem will be reviewed Due to time constraints actual homework problems will not be reviewed in class If an assignment contains multiple photos files submit the pictures files using an app program that compiles all of the pictures into 1 file Some cell phones have software that can combine the photos but students can also use the FREE Adobe scan app Chapter 1 3 pts Compare and contrast each business form by marking the appropriate business form Creation Number Easier to More Greater Owners government liable for exit end Owners involvement company maintenance of easier funding sources Sole proprietorship Partnership Limited liability comp LLC S corporation C corporation Taxation greater Chapter 2 2 pts Match each of the following transactions events to the accounting principle considered in recording them a Business entity principle b Objectivity principle c Cost principle d Going concern principle e Monetary unit principle f Revenue recognition principle g Materiality principle 1 An insurance company receives insurance premiums for six future months worth of coverage 2 Helen Cho a sole proprietor pays for her daughter s preschool out of business funds 3 A company expensed a 20 wastebasket in the year it is acquired instead of depreciating it over its useful life of 10 years 4 Helen added several thousand dollars to the Equipment account that she believed was undervalued 5 A building is for sale at 480 000 An appraisal is given for 450 000