W2 Individual Assignment

W2 Individual Assignment - E1-1 Urlacher Company performs...

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Unformatted text preview: E1-1 Urlacher Company performs the following accounting tasks during the year.______Analyzing and interpreting information.______Classifying economic events.______Explaining uses, meaning, and limitations of data.______Keeping a systematic chronological diary of events.______Measuring events in dollars and cents.______Preparing accounting reports.______Reporting information in a standard format.______Selecting economic activities relevant to the company.______Summarizing economic events.Accounting is “an information system that identifies, records, and communicates the economicevents of an organization to interested users.”InstructionsCategorize the accounting tasks performed by Urlacher as relating to either the identification(I), recording (R), or communication (C) aspects of accounting.CAnalyzing and interpreting information.RClassifying economic events.CExplaining uses, meaning, and limitations of data.RKeeping a systematic chronological diary of events.RMeasuring events in dollars and cents.CPreparing accounting reports.CReporting information in a standard format.ISelecting economic activities relevant to the company.RSummarizing economic events.E1-5 Meredith Cleaners has the following balance sheet items. Accounts payable Accounts receivable Cash Notes payable Cleaning equipment Salaries payable Cleaning supplies Common stock Instructions Classify each item as an asset, liability, or stockholders’ equity. Accounts payable liability Cash asset Cleaning equipment asset Cleaning supplies asset Accounts receivable asset Notes payable liability Salaries payable liability Common stock stockholders' equity E1-12 The following information relates to Linda Stanley Co. for the year 2008....
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This note was uploaded on 02/22/2012 for the course ACC 101 taught by Professor Black during the Spring '12 term at University of Phoenix.

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W2 Individual Assignment - E1-1 Urlacher Company performs...

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