Two (2) Part assignment. (2)-200-250 words APA 6 format, in-text citation, Please provide a copy of all references used.
1. The general manager of a business encounters many different types of business transactions. Provide an example for each of the following transactions that would describe its effect on the accounting equation. Each situation is independent of the other situations.
- The transaction would increase an asset account and increase a liability account.
- The transaction would decrease an asset account and decrease the owner’s equity account.
- The transaction would increase an asset account and increase the owner’s equity account.
- The transaction would decrease an asset account and decrease a liability account.
2. Select 2 companies in the same industry (for example, the home improvement industry or the candy industry).
- Use the company’s website to find the companies’ financial statements.
- From the financial statements, list the different components from the Stockholder’s Equity section.
- Read the footnotes to the financial statements to see what they disclose about their Stockholder’s Equity section.
- Which parts do they have in common?
- Is there anything about their Stockholder’s Equity that is distinctive to the business?
- Share with the class what you have found.