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ACC 290 Week 1 WileyPLUS Assignment

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ACC 290 Week 1 WileyPLUS Assignment Resource: WileyPLUS Click Assignment: Week 1 Assignment within WileyPLUS to complete the following exercises: DO IT! 1-3 Exercise 1-3 Exercise 1-4 Exercise Excel E 2-4 IFRS 2-4 Do It! Review 1-3 Marsh Corporation began operations on January 1, 2014. The following information is available for Marsh Corporation on December 31, 2014. Exercise 1-3 The Clear View Golf & Country Club details the following accounts in its financial statements. (a) Classify each of the following accounts as an asset, liability, stockholders’ equity, revenue, or expense item. (b) Classify each of the following accounts as a financing activity, investing activity, or operating activity. Exercise 1-4 This information relates to Molina Co. for the year 2014 After analyzing the data, prepare an income statement for the year ending December 31, 2014 After analyzing the data, prepare a retained earnings statement for the year ending December 31, 2014. (List items that increase retained earnings first.) Exercise 2-4 Suppose the following information (in thousands of dollars) is available for H.J. Heinz Company—famous for ketchup and other fine food products—for the year ended April 30, 2014 Prepare the assets section of a classified balance sheet. (List current assets in order of liquidity.) IFRS 2-4 The statement of financial position for Ruiz Company includes the following accounts (in British pounds): Accounts Receivable £12,500; Prepaid Insurance £3,600; Cash £15,400; Supplies £5,200; and Debt Investments (short-term) £6,700. Prepare the current assets section of the statement of financial position, listing the accounts in proper sequence. (List current assets in reverse order of liquidity. Do not enter currency symbols in your answer.)

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