Business Question

Discussion 1

Receivables

One way for organizations to generate revenue is through accounts receivable. Go to Yahoo Finance and select a company. Then, share with the class on one of the companys receivables. Go to at least 2 other colleagues posts and provide the colleagues selected companys accounts receivable turnover.

assignment 1) ACC220 Week 3 Assignment

Problems

For this weeks assignment, address the following problems. Be sure to complete all steps and sections of the problem and show all your work.

1. Prepare journal entries for the following transactions from Barrels Warehouse.

Jul. 1 Sold 2,000 barrels with a sales price of $30 per barrel to customer Lucks Vineyards. Lucks Vineyards paid with cash. The cost for this sale is $18 per barrel.

Jul. 3 Sold 1,200 barrels with a sales price of $32 per barrel to customer Paramount Apparel. Paramount paid using its in-house credit account. Terms of the sale are 3/10, n/30. The cost for this sale is $17 per barrel.

Jul. 5 Sold 1,400 barrels with a sales price of $31 per barrel to customer Melody Sharehouse. Melody paid using her MoneyPlus credit card. The cost for this sale is $18 per barrel. MoneyPlus Credit Card Company charges Barrels Warehouse a 2% usage fee based on the total sale per transaction.

Jul. 8 MoneyPlus Credit Card Company made a cash payment in full to Barrels Warehouse for the transaction from July 5, less any usage fees.

Jul. 13 PA2. Paramount Apparel paid its account in full with a cash payment, less any discounts.

2. Jars Plus recorded $861,430 in credit sales for the year and $488,000 in accounts receivable. The uncollectible percentage is 2.3% for the income statement method, and 3.6% for the balance sheet method.

Record the year-end adjusting entry for 2018 bad debt using the income statement method.

Record the year-end adjusting entry for 2018 bad debt using the balance sheet method.

Assume there was a previous debit balance in Allowance for Doubtful Accounts of $10,220, record the year-end entry for bad debt using the income statement method, and then the entry using the balance sheet method.

Assume there was a previous credit balance in Allowance for Doubtful Accounts of $5,470, record the year-end entry for bad debt using the income statement method, and then the entry using the balance sheet method.a

Assignment 2) ACC220 Week 3

Exercise

Be sure to complete all steps and sections of the problem and show all your work.

1. Fortune Accounting reports $1,455,000 in credit sales for 2022 and $1,678,430 in 2023. It has an $825,000 accounts receivable balance at the end of 2022 and $756,000 at the end of 2023. Fortune uses the balance sheet method to record bad debt estimation at 7.5% during 2022. To manage earnings more favorably, Fortune changes bad debt estimation to the income statement method at 5.5% during 2023.

2. Determine the bad debt estimation for 2022.

3. Determine the bad debt estimation for 2023.

4. Describe a benefit to Fortune in 2023 as a result of its earnings management.

Discussion 2)

Connect with a Sales Manager

Utilize LinkedIn to find two sales managers in your geographic area and invite them to connect with you. If you know someone from work who is a sales manager or your friend, you may use them for an interview too. Try using what you now know about segmentation, targeting, and positioning to consider industries youd like to work in, where they might be located, and how you can make your resume appealing to them.

Write a compelling message that encourages sales managers to connect with you. Share the message in the discussion post for your peers to review.

Once connected on LinkedIn, interview at least one sales professional and ask questions about what they enjoy most and least about their sales careers. You may interview a colleague from work or a friend who is also a sales manager. Share the answers from the interview in the discussion post for your peers to review.

assignment 3) W3 Assignment

Conduct a Survey

Conduct a survey of five college students via email, social media, telephone, or in-person to learn more about the student demographic. Explain that you are collecting data for a classroom assignment only and will not identify them by name. Ask these questions:

1. If you could adopt a rescue animal today, what would it be?

2. What is the best pizza topping?

3. Would you rather sneeze for an hour or have hiccups for an hour?

4. Would you rather get $1 million right now or $10,000 per month for a lifetime?

5. What is your least favorite food?

Summarize and report your results in a chart.

C and D are structurally different questions than A, B, and E. What is different between these questions?

Can your findings be applied to all college students? Why or why not?

Assignment Requirements

The requirements below must be met for your paper to be accepted and graded:

The paper must be between 1 2 pages in length (not counting the title page) using Microsoft Word.

Attempt APA style.

Use font size 12 and 1 margins.

Include a cover page and reference page.

Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must be identified in the paper and listed on a reference page.

Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must come from sources such as scholarly journals found in online newspapers such as The Wall Street Journal, government websites, etc. Sources such as Wikis, Yahoo Answers, eHow, etc. are not acceptable.

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