ACCT 301 Statement of Owner Equity DIscussion

Description

ACCT 301 eekly Homework

The primary reading material source is http://www.principlesofaccounting.com/.

(For additional information, use the OpenStax textbook available within LEO as a secondary resource.)

Read the assigned chapters to learn the accounting concepts, then submit a written report in the LEO assignment folder summarizing your knowledge of the week’s concepts. You should create this report to provide documentation/evidence of your assigned chapter readings and self-assessment exercises (Fill in the Blanks and Multiple Choice questions at the end of each chapter). (A series of projects focused on your SEC10K corporation will be completed and submitted separately.)

REQUIREMENT: As described above, upon completing the readings and quizzes (the week’s assigned chapters are detailed below), write a report as a Word document and upload it to this week’s Homework assignment folder. Summarize what you learned through your readings and practice quizzes. Demonstrate an understanding of the week’s concepts. The more detailed writeups documenting a solid understanding of the material will earn the highest homework points.

Week 4:

A. Read and complete the self-graded questions for ch 10, 11, & 14 at PoA.

B. Financial Statement order of preparation. – Financial statements are always prepared in a particular order:

Income Statement

Statement of Owner’s Equity

Balance Sheet

Statement of Cash Flows

Discuss the reason for the order of the reports.

Explanation & Answer:

3 pages

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