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Manchester Community College Effects of Business Transactions Questions

Manchester Community College Effects of Business Transactions Questions

Question Description

I’m working on a accounting discussion question and need a sample draft to help me understand better.

Read the textbook, lecture notes and all other posts BEFORE you post.  Using a current or prior place of work as an example business, think of ONE typical business transaction and then address the following points:

1. Describe the transaction (if another student has already used your transaction, please choose a different one).

2. What is the impact on TOTAL ASSETS (increase or decrease)?

3. What is the impact on TOTAL LIABILITIES (increase or decrease)?

4. What is the impact on TOTAL OWNER’S EQUITY (increase or decrease)?

Be specific and provide detail.  If you are unfamiliar with real life examples, you are free to use a hypothetical business that operates in an industry that interests you.  We will continue to dig into your example during the week.

General expectations include the following:

1)  Compose a response to the chapter discussion question by Thursday night.

2)  Make a meaningful reply to the post of at least one other person by Sunday night.

3)  Meet the quality requirements discussed in the syllabus.

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