Find transaction with amounts that increases its component

Reference no: EM131528234

Question: The expanded accounting equation consists of assets, liabilities, capital, withdrawals, revenues, and expenses. It can be used to reveal insights into changes in a company's financial position.

Required: 1. Form learning teams of six (or more) members. Each team member must select one of the six components and each team must have at least one expert on each component:

(a) assets,

(b) liabilities,

(d) withdrawals,

(e) revenues, and

(f) expenses.

2. Form expert teams of individuals who selected the same component in part 1. Expert teams are to draft a report that each expert will present to his or her learning team addressing the following:

a. Identify for its component the

(i) increase and decrease side of the account and

(ii) normal balance side of the account.

b. Describe a transaction, with amounts, that increases its component.

c. Using the transaction and amounts in (b), verify the equality of the accounting equation and then explain any effects on the income statement and statement of cash flows.

d. Describe a transaction, with amounts, that decreases its component.

e. Using the transaction and amounts in (d), verify the equality of the accounting equation and then explain any effects on the income statement and statement of cash flows.

3. Each expert should return to his/her learning team. In rotation, each member presents his/her expert team's report to the learning team. Team discussion is encouraged.

Reference no: EM131528234

Questions Cloud

Review financial statement reported for given years ended : Access EDGAR online (www.sec.gov) and locate the 2009 year 10-K report of Amazon.com (ticker AMZN) filed on January 29, 2010.

Share example of organizations use of social responsibility : Considering the readings, share an example of an organization's use of corporate social responsibility to gain a competitive edge in an industry.

A holistic and system-based approach to nursing : Betty Newman's System Model is a holistic and system-based approach to nursing (Alligood, 2014).

Barnes-jewish aligns with the organization needs : State how the approach to training at Barnes-Jewish aligns with the organization's needs.

Find transaction with amounts that increases its component : The expanded accounting equation consists of assets, liabilities, capital, withdrawals, revenues, and expenses. It can be used to reveal insights into changes.

Demonstrates social or corporate social responsibility : Demonstrates social responsibility or corporate social responsibility in action. Introduce the resource with a brief description and background.

Determining the investment environment : In your own words. Please discuss the major components and participants that comprise the investment environment.

Treat everyone with respect : The chapter suggests that one way to work effectively with different personalities is to treat everyone with respect.

Explain your chosen leadership philosophy : Identification of your chosen leadership philosophy with justification of your choice. How you will approach Foreign Direct Investment and Financial Risk?

User Account

All Pages