ACC205: Principles of Accounting
To participate in the following discussions, go to this week’s Discussion link in the left navigation.
- Accounting Equation
As you have learned in this
weekâ€™s readings the Accounting Equation is Assets = Liabilities + Ownersâ€™
Equity. Is the accounting equation true in all instances?
Provide sample transactions from your own experiences to demonstrate the
validity of the Accounting Equation.
Review several of your peersâ€™ posts and identify some core components that
you feel should be included in every transaction. Respond to at
least two of your peers and provide recommendations to extend their
thinking. Challenge your peers by asking a question that may cause
them to reevaluate or add components to their transactions.
What does the term
account mean? What are the
different classifications of accounts? How do the rules for debits
and credits impact accounts? Please provide an example of how debits
and credits impact accounts.
Analyze several of your peersâ€™ posts. Let at least two of your peers
know if this knowledge could be used in their everyday lives. Is so,
how? If not, why not?
To complete the following assignment, go to this week’s Assignment link in the left navigation.
Please complete each of the exercises below in a word document. Save the
document, and submit to in week using theAssignment Submission button.