ACCT 301 ALL WEEKS HOMEWORK ASSIGNMENTS
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ACCT 301 Week 1 Homework Assignment
Problem 1
Required: Identify the financial statement on which each of the following items appears by making an X in the appropriate column. The first one is done for you!
Problem 2
Required: Show the effects on the financial statements using a horizontal statement model as outlined below. The first one is done for you! (35 points total, 5 points each)
1. Sold $30,000 in merchandise for cash
2. Paid $5,000 for rent with cash
3. Paid $10,000 in salaries to employees with cash
4. Sold $25,000 in merchandise and customer paid on credit
5. Collected $10,000 cash for transaction #4
6. Purchased a building for $100,000 and took out a loan for the money
7. Paid $1,200 for insurance
ACCT 301 Week 2 Homework Assignment
1. In two to three paragraphs, describe the Sarbanes-Oxley Act and why it is important to the accounting profession. (15 points)
2. Name and briefly...