ACC 5594 Saudi Electronic University Principles of Accounting Questions

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DescriptionCollege of Administrative and Financial Sciences
Assignment 2
Deadline: 18/2/2023@ 23:59
Course Name:Principles of Accounting Student’s Name:
Course Code: ACCT 101
Student’s ID Number:
Semester: II
CRN:
Academic Year: 1444 H
For Instructor’s Use only
Instructor’s Name:
Students’ Grade: / 15
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY
• The Assignment must be submitted on Blackboard (WORD format only) via allocated
folder.
• Assignments submitted through email will not be accepted.
• Students are advised to make their work clear and well presented; marks may be
reduced for poor presentation. This includes filling your information on the cover page.
• Students must mention question number clearly in their answer.
• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students or
other resources without proper referencing will result in ZERO marks. No exceptions.
• All answered must be typed using Times New Roman (size 12, double-spaced) font.
No pictures containing text will be accepted and will be considered plagiarism).
• Submissions without this cover page will NOT be accepted.
1
Assignment Question(s):
(Marks15)
Q1. Suppose you are an auditor who has been tasked with looking into the internal
controls at a company. How can you evaluate the company’s internal controls to see if
they are sufficient?
(5Marks)
Q2. Why do companies use the allowance method to account for bad debts? Describe
the diverse methods used to estimate bad debts in an accounting system. Provide
examples for each method.
(5Marks)
Q3. Consider that you own a business that purchases equipment for 50,000SR. How
would you calculate this asset’s depreciation? Use the different methods to depreciate
the equipment.
Note: To calculate depreciation, you must provide the salvage value, useful life, and
annual units produced.
(5Marks)
2

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DescriptionCollege of Administrative and Financial Sciences Assignment 2 Deadline: 18/2/2023@ 23:59 Course Name:Principles of Accounting Student’s Name: Course Code: ACCT 101 Student’s ID Number: Semester: II CRN: Academic Year: 1444 H For Instructor’s Use only Instructor’s Name: Students’ Grade: / 15 Level of Marks: High/Middle/Low Instructions – PLEASE READ THEM CAREFULLY • The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. • Assignments submitted through email will not be accepted. • Students are advised to make their work clear and well presented; marks may be reduced for poor presentation. This includes filling your information on the cover page. • Students must mention question number clearly in their answer. • Late submission will NOT be accepted. • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. • All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism). • Submissions without this cover page will NOT be accepted. 1 Assignment Question(s): (Marks15) Q1. Suppose you are an auditor who has been tasked with looking into the internal controls at a company. How can you evaluate the company’s internal controls to see if they are sufficient? (5Marks) Q2. Why do companies use the allowance method to account for bad debts? Describe the diverse methods used to estimate bad debts in an accounting system. Provide examples for each method. (5Marks) Q3. Consider that you own a business that purchases equipment for 50,000SR. How would you calculate this asset’s depreciation? Use the different methods to depreciate the equipment. Note: To calculate depreciation, you must provide the salvage value, useful life, and annual units produced. (5Marks) 2 Purchase answer to see full attachment

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