ACC 290 Week 2 Assignment Help | University Of Phoenix
- University of Phoenix / ACC 290
- 30 Nov 2019
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ACC 290 Week 2 Assignment Help | University Of Phoenix
Analyzing the Effect
of Transactions
Purpose of Assignment
The purpose of this assignment is to help you
become familiar with examining transactions and how it affects the balance
sheet.
Assignment Steps
Resources: Financial Accounting: Tools for Business
Decision Making
Write a minimum 150-word response to each of the following
scenarios from Exercise E3-1 in Financial Accounting (p. 132)
describing the effect of each transaction on assets, liabilities, and
stockholder's equity:
- Selected
transactions for Thyme Advertising Company, Inc.
- Issued
common stock to investors in exchange for cash received from investors.
- Paid
monthly rent.
- Received
cash from customers when service was performed.
- Billed
customers for services performed.
- Paid
dividend to stockholders.
- Incurred
advertising expense on account.
- Received
cash from customers billed in (4).
- Purchased
additional equipment for cash.
- Purchased
equipment on account.
Use the Excel® spreadsheet to record your
answers and submit with your responses.
Read Ch.
3 of Financial Accounting.
Consider the following as you read:
In the 1400's, Luca Pacioli, who is known as the
father of accounting, introduced the world to a better understanding of
accounting and the double entry accounting system through his book, Summa
de Arithmetica, Geometric, Proportioni et Proportionalita. Today, the same
principles and concepts keep many companies around the world well informed of
their financial standing:
- How
are business events captured for reporting?
- What
is the ultimate purpose of communicating accounting information?
USA 
India
Question Attachments
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