Week 2 Homework Template Problem 3-2B: (a) Show the effects of each transaction on the accounting equation. Enter each amount in the proper column. Assume the note payable is to be repaid within the year. REMEMBER: each transaction affects TWO accounts! Use the + or – signs to indicate whether the amount increased or decreased…
Read MoreP1-3B: (a) Prepare an income statement and a retained earnings statement for the month of May and a balance sheet at May 31, 2012. P1-3B: (b) Briefly discuss whether the company’s first month of operations was a success. P1-3B: (c) Discuss the company’s decision to distribute a dividend. P1-4B: (a) Determine which items should be…
Read MoreBUS591 – Financial Statement and Analysis Week 1 Homework Assignment Templates P1-3B, Prepare an income statement, retained earnings statement, and balance sheet; discuss results. Instructions: (a) Prepare an income statement and a retained earnings statement for the month of May and a balance sheet at May 31, 2014. (b) Briefly discuss whether the company’s first…
Read MoreYou should begin working on elements of the Final Project in Week One. Each week, there is a recommended learning activity associated with helping you complete the Final Project. There are ungraded and graded practice exercises, which will allow you to practice applying accounting skills learned in class to different scenarios. Work through the problems,…
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