Solved:
Answered by AI, Verified by Human Experts
ACC-260 QuickBooks Assignment 2 PURPOSE: The purpose of this assignment is to have students become familiar with an accounting software package that is used in professional practice. Students will enter journal entries related to manufacturing operations; produce standard output reports in QuickBooks; and analyze those reports using ratio analysis.
ACC-260 QuickBooks Assignment 2 PURPOSE: The purpose of this assignment is to have students become familiar with an accounting software package that is used in professional practice. Students will enter journal entries related to manufacturing operations; produce standard output reports in QuickBooks; and analyze those reports using ratio analysis.
The purpose of theassignmentis to familiarize students with an accounting software package (QuickBooks), where they will enter manufacturing-related journalentries, generate standard output reports, and perform ratio analysis for analysis purposes.The assignment aims to provide students with hands-on experience using an accounting software package, specifically QuickBooks, which is widely used in professional accounting practice. By engaging with the software, students will gain familiarity with itsfunctionalitiesand features, enhancing their practical skills in financial management and reporting.In this assignment, students will focus on journal entries related to manufacturingoperations. They will record transactions specific to manufacturing processes, such as raw material purchases, production costs, inventory adjustments, and sales of finished goods. These journal entries will serve as the basis for generating standard output reports within QuickBooks.Once the reports are generated, students will employ ratio analysis techniques to evaluate the financial performance and efficiency of the manufacturing operations. They may calculate and analyze ratios such as profitability ratios,liquidity ratios, and efficiency ratios. This analysis will enable students to gain insights into the financial health of the manufacturing process and identify areas for improvement or optimization.Overall, the assignment combines practical application of accounting software,manufacturing-specific transactions, report generation, and ratio analysis to provide students with a comprehensive understanding of accounting processes in a manufacturing context.To learn more aboutaccounting software package, herebrainly.com/question/15320095#SPJ4...