ACC 400 Week 2

Individual E-text Individual Assignments

Prepare responses to the following assignment from the e-text, Financial Accounting: Tools for Business Decision Making 4th ed., by Kimmel, Weygandt, and Kieso

1) Chapter 8: Questions 3 and 4

2) Chapter 8: Exercise E8-5

Prepare responses to the following assignment from the e-text, Financial and Managerial Accounting: The Basis for Business Decisions 13th ed., by Williams, Haka, and Bettner

1) Chapter 9: Exercise E9.9

Team E-text Learning Team Assignments

Prepare responses to the following assignment from the e-text, Financial Accounting: Tools for Business Decision Making 4th ed., by Kimmel, Weygandt, and Kieso

1) Chapter 7: Exercise E7-2

2) Chapter 7: Problem Set B: P7-2B

Discussion Questions

Explain what a current liability is and identify the major types of current liabilities. Explain what a long term liability is and provide examples. In which financial statement would you find these liabilities?

What are the types of equity accounts? What is the role of equity accounts in raising capital? Under what circumstances would you not pay a dividend? Under what circumstances would you pay a dividend?

Identify and discuss the major characteristics of a corporation, including the advantages and disadvantages of being a corporation.