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Essay

ACC 529 Fundamentals of Financial Statements Simulations

Essay specific features

 

Issue:

Business

 

Written by:

Clarence B

 

Date added:

July 13, 2014

 

Level:

 

Grade:

B

 

No of pages / words:

4 / 928

 

Was viewed:

7469 times

 

Rating of current essay:

 
Essay content:

Below identifies five accounting transactions and specific information that is conveyed to the manager. 1. Connie Rocha withdraws $80,000 from her personal account and invested in a new checking account (Aunt Connie's Cookies). The transaction is recorded on the balance sheet under the accounting principle: Asset = Liabilities + Owners' Equity Identify increase and decrease on specific transaction In this accounting transaction $80,000 debit (own) to "Invested Cash" and credit (owe) to "Connie Rocha Capital...
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Purchase $20,000 worth of operation infrastructure (oven, etc., equipment) The transaction is recorded on the balance sheet Identify which chart of accounts are effected by the transaction (Asset under the Cash and Equipment ledger) Balance Sheet: Debit asset (Equipment) increase by $20,000 Cash flow: Credit (decrease) of $20,000 Conveyed to manager that the firm purchased equipment worth $20,000 and paid cash for the procurement...
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General issues of this essay:
ACC 529 Fundamentals of Financial Statements Simulations Financial Statements Financial Statements Financial Statements Fundamentals of Financial Statement Fundamentals of Financial Statements Fundamentals of Financial Statements Fundamentals of Financial Statements financial statements The Four Financial Statements comparison of Medtronic's financial statements to Baxter's financial statements Fundamentals of Financial Statements financial statements financial statements The statement of financial performance is based on data relating to past transactions and events. Hence the statement of financial performance is of no use to an investor’s decision making process.
 

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