Saint Leo ACC 201 Discussion 1 (2017)
Describe the similarities and differences among the four different types of business entities discussed in the chapter.
Explain the five steps in journalizing and posting transactions.
What is a purchase return? How does a purchase allowance differ from a purchase return?
Discuss some measures that should be taken to maintain control over merchandise inventory.
Review the sections on international accounting (IFRS) in each of Chapters 1, 2, 3, 4, 5, 6, and 8. Discuss the major similarities and differences between U.S. GAAP and IFRS. Which of the differences do you find most interesting? If there is a...
Summarize the events of a recent accounting scandal. Identify how the illegal/unethical act was detected and the punishments that resulted (fines, prison terms, etc.). Next, consider what could have been done to detect this act earlier and what could...
What is the difference between gross pay and net pay?
What are the two main controls for payroll? Provide an example of each.
How does a business decide which depreciation method is best to use?
Why would a company invest in debt or equity securities?
Review the sections on international accounting (IFRS) in each of Chapters 7, 9, 10, 11, and 12. Discuss the major similarities and differences between U.S. GAAP and IFRS. Which of the differences do you find most interesting? If there is a convergence...
Saint Leo ACC 201 Week 6 Chapter 11 Practice Homework Solution
WatsonPublishing completed the following transactions during
Sold a six-month subscription (starting on November 1), collecting...