ACC 529 Fundamentals of Financial Statements Simulation AUNT CONNIES COOKIES

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INTEROFFICE MEMORANDUM

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...