The Effects of Transactions in T-Accounts
Activity Context
Revisit the MBA6014 Course Alignment Map to review how all activities assist you in achieving the course competencies and overall program outcomes.
Activity Instructions
The ability to determine the financial impact of transactions is an important skill that all business professionals should possess. T-accounts provide a valuable tool for analyzing the effects of transactions. This assignment provides you the opportunity to analyze various transactions using T-accounts and utilize the information to prepare a classified balance sheet. In addition, you will utilize the new concepts learned in this chapter to further analyze the financial statements of Urban Outfitters.
Complete P2-3 (pages 88–89) and CP2-2 (page 93) from Chapter 2 of your Financial Accounting textbook.
Submission Requirements
All quantitative assignments must be completed on the Microsoft Excel templates provided. Create one workbook with multiple tabs, copying each problem’s template onto a separate tab and completing the work there. Submit this single file in the assignment area. Include your name and the assignment number in the file name; also include your name and the problem number on each tab of the document. All work should be shown. Assignments must not be submitted as a PDF.
Refer to the scoring guide for this assignment to ensure that you meet the grading criteria. Note that one scoring guide is used to evaluate both of the problems in this assessment; each criterion in the scoring guide relates to one or both of the problems here.
Resources
o The Effects of Transactions in T-Accounts Scoring Guide.
o CP2-2 template.
o P2-3 template.
o Course Alignment Map