acc201 wk 1 ex 2 - Bob and Marsha both attend a state...

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Bob and Marsha both attend a state university. As a reward for their successful completion of the past year (Bob had a 3.2GPA in business, and Marsha had a 3.7 GPA in art), their father gave each of them 100 shares of Walt Disney Company stock. They have just received their first annual report. Marsha does not understand what the information means and has asked Bob to explain it to her. Bob is currently taking an accounting course, and she knows he will understand the financial statement. Assume you are Bob. Write Marsha a memo explaining the following financial statement items to her. In your explanation, describe each of the two financial statements and explain the financial information each contains. Also define each of the elements listed for each financial statement and explain what it means. BALANCE SHEET Assets Liabilities Stockholder’s Equity INCOME STATEMENT Revenue Expense Net Income Dear Martha, First may I congratulate you on your 3.7 GPA in Art. I am sure telling the difference
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This note was uploaded on 09/26/2010 for the course BUSINESS bus 201 taught by Professor Gonzales during the Spring '10 term at Ashford University.

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acc201 wk 1 ex 2 - Bob and Marsha both attend a state...

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