I am attaching my final to be completed.See attachment

 ATTACHMENT PREVIEW Download attachmentQuestion 2.2.(TCO 2) As required to complete Course Project 1, one must follow the cycle thatincludes 10 steps to complete the accounting cycle. (1) Explain how information from thejournal entries get into the ledger accounts (15 points) and (2) provide an example ofinformation that would be transferred. (10 points) (Points : 25)Question 3.3.(TCO 5) Internal Control Procedures are required to safeguard company assetsand to ensure ethical operation of the business. (1) Explain how limited access can satisfy thepurpose of internal control (15 points) and (2) provide an example of how this control could beimplemented. (10 points) (Points : 25)Question 4.4.(TCO 4) Various methods are used in accounting for inventory in an accountingsystem. (1) Compare and contrast Perpetual Inventory and Periodic Inventory systems ofdetermining inventory on hand (15 points), and (2) provide an example of an inventory itemunder each method and show how the method is well suited for counting the inventory (10points). (Points : 25)Question 5.5.(TCO 1) To evaluate the financial operation and health of a business ratio analysis is used. (1)Provide the formula for the Current Ratio and explain how it is computed (10 points) and (2)provide an example of how this ratio can be used in decision-making in business. (15 points)(Points : 25)Question 1.1.(TCO 6) BagODonuts Company bought a used delivery truck on January 1,2010, for $19,200. The van was expected to remain in service 4 years (30,000 miles).BagODonuts’ accountant estimated that the truck’s residual value would be $2,400 at theend of its useful life. The truck traveled 8,000 miles the Frst year, 8,500 miles the secondyear, 5,500 miles the third year, and 8,000 miles in the fourth year.1. Calculate depreciation expense for the truck for each year (2010-2013) using the:a. Straight-line method.b. Double-declining balance method.c. Units of Production method.(±or units-of-production and double-declining balance, round to the nearest two decimalsafter each step of the calculation.)2. Which method best tracks the wear and tear on the van?3. Which method would BagODonuts prefer to use for income tax purposes? Explain indetail why BagODonuts prefers this method.(Points : 25)

View the AnswerQuestion 2.2.(TCO 7) ABC Inc. was incorporated on 1/15/12. Their corporate charterauthorized the following capital stock:Preferred Stock: 7%, par value $100 per share, 100,000 shares.Common Stock: $1 par value, 500,000 shares.The following transactions occurred during the year:1/19/12 – Issued 100,000 shares of common stock for $17 cash per share.1/31/12 – Issued 3,000 shares of preferred stock for $115 cash per share.11/1/12 – Repurchased 30,000 shares of common stock for $22 cash per share.12/1/12 – Declared and paid a total dividend of $95,000.Required:1. Prepare the journal entry for each transaction listed above.2. In your own words, explain the main diFerences between common and preferred stock.(Points : 25)

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