ACC 225 Week 3 DQ 1 and DQ 2

ACC 225 Week 3 DQ 1 and DQ 2

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Dialogue Query 1
• Due Date: Day 2 [Main] discussion board
• Submit your response to the next:
o What’s the distinction between money foundation and accrual foundation accounting?
o Why do accrualbasis monetary statements present extra helpful info than
cashbasis monetary statements?
o Describe when every technique (money foundation and accrual foundation accounting) can be
applicable to make use of.

Dialogue Query 2
• Due Date: Day 4 [Main] discussion board
• Submit your response to the next: The Ritz Manor is a well-liked seaside resort. A
double room prices $220 for one night time. So as to reserve a room, visitors should pay one
night time’s keep prematurely. On every flooring of the lodge, Vendalite Firm operates merchandising
machines with vitality bars, juices, and different snacks for visitors. Vendalite shares the
machines and collects income each week. Whole common weekly income from these
machines is $720. The Ritz Manor is entitled to 30% of the income from the machines.
Vendalite sends a verify to the Ritz Manor as soon as on the finish of every quarter for the resort’s
share of the income.
o Primarily based on this info, what sort of adjusting entries does the Ritz Manor have?
o How are the quantities of those changes decided?
o Which accounts are affected?