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ACC 206 Principles of Accounting II

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ACC 206 Principles of Accounting II ACC 206 Week 1 Assignment Chapter One Problems CLICK HERE Chapter One Problems Please complete the following 5 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in the appropriate week using the Assignment Submission button. Ch 1 Critical Thinking Question 5: Answer the following questions: Why are noncash transactions, such as the exchange of common stock a building, included on a statement of cash flows? How are these noncash transactions disclosed? Chapter 1 Exercise 1: 1. Classification of activities Classify each …show more content…

2. Cash proceeds from the sale of land totaled $76,200. 3. Store equipment of $44,000 was purchased by signing a short-term note payable. Also, a $150,000 telecommunications system was acquired by issuing 3,000 shares of preferred stock. 4. A long-term note of $49,400 was repaid. 5. Twenty thousand shares of common stock were issued at $5.19 per share. 6. The company paid cash dividends amounting to $128,600. Instructions: 1. Prepare the operating activities section of the company 's statement of cash flows, assuming use of: 2. The direct method. 3. The indirect method. 1. Prepare the investing and financing activities sections of the statement of cash flows. ACC 206 Week 2 Assignment Chapter Two and Three Problems CLICK HERE Chapter Two and Three Problems Please complete the following 7 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in the appropriate week using the Assignment Submission button. Chapter 2 Exercise 1 1. Issuance of stock Prepare journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases: a. Jackson Corporation has common stock with a par value of $1 per share. b. Royal Corporation has no-par common with a stated value of $5 D share. c. French Corporation has

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