You are required to complete a Major Assignment for this Module, that consists of two parts.

The Major Assignment consists of applying some of the key concepts you learned to date in several Modules in Connect (Part 1) and then documenting on a Word document your answers to several follow-up questions (Part 2).

Part 1: Connect Assignment: Bug-Off Exterminators

Go to Connect, find the Module 7 Folder, and look for the Module 7 Major Assignment. You will find the Comprehensive Problem Named - Bug-Off Exterminators.

First, complete ALL of the required calculations and each of the Requirements you see in Connect Assignment for Module 7. These Requirements include:

• Question 1 (Parts a through g)
• Question 2
• Question 3
• Question 4 (Parts a through c)

Then, take a screenshot of your answers to each of these completed requirements, including your answers in Connect, and use these answers to answer the requirements in Part 2, which has 4 questions for you to answer in a Word document. (How to take a screenshot?) You will then use the screenshots to answer the requirements in Part 2.

The instructor cannot grade your Assignment without seeing your answers from each Question in Connect.

Part 2: Decision-Making Perspectives

Answer the following four questions. Please copy and paste, in bold type, the questions into your Word document. You should also include the screenshot for Requirement 2 in support of your answers.

You should go to your work on/in Requirement 2. Look at the balances in theUnadjusted Trial Balancecolumn for each account compared to the corresponding balance in theAdjusted Trial Balancecolumn for each account.

As a result of theAdjustmentsyou made in the Adjustments columns in Requirement 2, did those adjustments:

1. increase total assets or decrease total assets, or there is no change in total assets? (So, for example, if the adjusted ending balance in the inventory account increased, that means that total assets also increased as a result of that adjustment).
2. increase total liabilities or decrease total liabilities or there is no change to total liabilities?
3. increase total expenses or decrease total expenses, or there is no change in total expenses? (So, for example, if the adjustment increased salary expenses, that means that total expenses increased as a result of that adjustment).
4. increase net income or decrease net income, or there is no change in net income or net loss?

Your Word document response should be between 2-4 pages in length (1000-2000 words) double-spaced, font size 12, with one-inch margins on all sides, excluding the screenshots, cover page, and reference page. Your submission should include a separate cover page with your name, date, ACC211-Financial Accounting, and Module 7 Major Assignment on the cover page; and a separate reference page.

Please copy and paste, in bold type, those 4 Questions into your Word document, and you can include the screenshot(s) of your answers in Connect as an Exhibit to your Word document, too.

The screenshots should be properly labeled.

Submit when ready your Word document to Canvas for grading.

This assignment requires Turnitin. This assignment is due by Sunday at 11:59 PM ET.

Outcomes

RubricDownload Rubric

Return to Module 7 Learning Pathway

The following content is partner provided

The preceding content is partner provided

Rubric

ACC211_M7_PAPER_ASSIGNMENT_RUBRIC

Criteria

Ratings

Pts

This criterion is linked to a Learning OutcomeScreenshots

10 pts Yes Screenshots match the Connect output results.

0 pts No Screenshots do not match the Connect output results, or are not provided.

10 pts

This criterion is linked to a Learning Outcome#1 Decision: Does it increase total assets or decrease total assets, or there is no change in total assets?

5 pts Provided

0 pts Not Provided

5 pts

This criterion is linked to a Learning Outcome#1 Reasons: Does it increase total assets or decrease total assets, or there is no change in total assets?

17.5 to >0.0 pts Provided

0 pts Not Provided

17.5 pts

This criterion is linked to a Learning Outcome#2 Decision: Does it increase total liabilities or decrease total liabilities or there is no change to total liabilities?

5 pts Provided

0 pts Not Provided

5 pts

This criterion is linked to a Learning Outcome#2 Reasons: Does it increase total liabilities or decrease total liabilities or there is no change to total liabilities?

17.5 to >0.0 pts Provided

0 pts Not Provided

17.5 pts

This criterion is linked to a Learning Outcome#3 Decision: Does it increase total expenses or decrease total expenses, or there is no change in total expenses?

5 pts Provided

0 pts Not Provided

5 pts

This criterion is linked to a Learning Outcome#3 Reasons: Does it increase total expenses or decrease total expenses, or there is no change in total expenses?

17.5 to >0.0 pts Provided

0 pts Not Provided

17.5 pts

This criterion is linked to a Learning Outcome#4 Decision: Does it increase net income or decrease net income, or there is no change in net income or net loss?

5 pts Provided

0 pts Not Provided

5 pts

This criterion is linked to a Learning Outcome#4 Reasons: Does it increase net income or decrease net income, or there is no change in net income or net loss?

17.5 to >0.0 pts Provided

0 pts Not Provided

17.5 pts

Total Points: 100

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Transcribed Image Text:

Comprehensive Problem Bug-Off Exterminators Bug-Off Exterminators provides pest control services and sells extermination products manufactured by other companies. Following is the company's unadjusted trial balance as of December 31, 2019. December 31, 2019 Cash Accounts receivable Allowance for doubtful accounts Merchandise inventory Trucks Accum. depreciation-Trucks Equipment Accum. depreciation-Equipment Accounts payable Estimated warranty liability Unearned services revenue Interest payable Long-term notes payable. Common stock Retained earnings Dividends Extermination services revenue Interest revenue Sales (of merchandise) Cost of goods sold Depreciation expense-Trucks Depreciation expense-Equipment Wages expense Interest expense Rent expense Bad debts expense Miscellaneous expense Repairs expense Utilities expense Warranty expense Totals Unadjusted Trial Balance $ 18, 200 4,600 13,500 38,000 51,000 16,000 48,100 0 0 41,000 0 15,000 0 1,250 11,000 8,000 0 $ 840 0 17,000 5,300 1,700 0 0 21,000 16,000 57,100 72,000 884 73,826 $265,650 $265,650 Comprehensive Problem Bug-Off Exterminators Bug-Off Exterminators provides pest control services and sells extermination products manufactured by other companies. Following is the company's unadjusted trial balance as of December 31, 2019. December 31, 2019 Cash Accounts receivable Allowance for doubtful accounts Merchandise inventory Trucks Accum. depreciation-Trucks Equipment Accum. depreciation-Equipment Accounts payable Estimated warranty liability Unearned services revenue Interest payable Long-term notes payable. Common stock Retained earnings Dividends Extermination services revenue Interest revenue Sales (of merchandise) Cost of goods sold Depreciation expense-Trucks Depreciation expense-Equipment Wages expense Interest expense Rent expense Bad debts expense Miscellaneous expense Repairs expense Utilities expense Warranty expense Totals Unadjusted Trial Balance $ 18, 200 4,600 13,500 38,000 51,000 16,000 48,100 0 0 41,000 0 15,000 0 1,250 11,000 8,000 0 $ 840 0 17,000 5,300 1,700 0 0 21,000 16,000 57,100 72,000 884 73,826 $265,650 $265,650 Comprehensive Problem Bug-Off Exterminators Bug-Off Exterminators provides pest control services and sells extermination products manufactured by other companies. Following is the company's unadjusted trial balance as of December 31, 2019. December 31, 2019 Cash Accounts receivable Allowance for doubtful accounts Merchandise inventory Trucks Accum. depreciation-Trucks Equipment Accum. depreciation-Equipment Accounts payable Estimated warranty liability Unearned services revenue Interest payable Long-term notes payable. Common stock Retained earnings Dividends Extermination services revenue Interest revenue Sales (of merchandise) Cost of goods sold Depreciation expense-Trucks Depreciation expense-Equipment Wages expense Interest expense Rent expense Bad debts expense Miscellaneous expense Repairs expense Utilities expense Warranty expense Totals Unadjusted Trial Balance $ 18, 200 4,600 13,500 38,000 51,000 16,000 48,100 0 0 41,000 0 15,000 0 1,250 11,000 8,000 0 $ 840 0 17,000 5,300 1,700 0 0 21,000 16,000 57,100 72,000 884 73,826 $265,650 $265,650