Acc 529 Fundamentals Of Financial Statements Simulations
Fundamentals of Financial Statements Simulation
ACC 529
University of Phoenix Online
Facilitator:
April 23, 2007
INTEROFFICE MEMORANDUM
TO: KEY DECISION-MAKER OF AUNT CONNIE'S COOKIES
FROM:
SUBJECT: NOVEMBER AND DECEMBER SUMMARY
DATE: 4/23/07
CC: JIM ANDERSON
Many of the transaction in the simulation affect more than one financial statement. 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."
Conveyed to manager that the company owe Connie $80,000 for her initial investment......
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Approximate Word Count: 953
Approximate Pages: 4 (250 words per double-spaced page)
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