275 words, essay, writing, 3 hours
TWO PART
Identify and describe each element of the accounting equation. Using your fictional company from Discussion 1.1, provide examples of the types of assets, liabilities and stockholders’ equity you would expect to have in that business. The first paragraph should identify and describe the parts of the accounting equation and the second paragraph should provide examples for your business idea.
Your response should be 2-3 full paragraphs (100 words minimum)
Navigate to https://www.khanacademy.org/economics-finance-domain/core-finance/accounting-and-financial-stateme/cash-accrual-accounting/v/comparing-accrual-and-cash-accounting and watch the short video there about differences and similarities in accrual and cash accounting.
After you review the video, identify two things you learned about accrual accounting and two things you learned about cash accounting. Identify which of these types is more consistent with GAAP (Generally Accepted Accounting Principles). Your response should be 2-3 full paragraphs (100 words minimum) and include a minimum of two sources listed and cited using APA format