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Sep 07, 2024
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2023-2024 WWCC College Catalog [ARCHIVED CATALOG]
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ACCT& 202 - Principles of Accounting II Credits: 5 LEC hours per week: 5 Develops the accounting principles employed by partnerships and corporations with a heavy emphasis on the partners’ and stockholders’ equities. Formerly: ACCT 202. Prerequisite(s): grade of C or higher in ACCT& 201 . Course Outcomes:
- Analyze and record transactions involving non-current assets, including related depreciation, depletion, and amortization.
- Analyze and record current and long-term liabilities.
- Calculate and report the effect on equity of partner contributions, withdrawals, and dispositions.
- Calculate and report the effect on equity of corporate sale of stock, repurchases, dividends, and other equity transactions.
- Differentiate between various types of investments and record realized and unrealized gains and losses.
- Report fixed assets, current and long-term liabilities, investments, and partners’/shareholders’ equity on the financial statements, including required disclosures, in compliance with Generally Accepted Accounting Principles.
- Create a statement of cash flows using a spreadsheet.
Course Topics:
- Nature of fixed assets
- Accounting for depreciation
- Corporations: organization, capital stock transactions and dividends
- Present Value concepts and Bonds Payable
- Measuring and reporting cash flows
Course Attribute(s): Listed Elective
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