acc205 ashford university week 1 494885

ACC205: Principles of Accounting

Week 1

Discussions
To participate in the following discussions, go to this week’s Discussion link in the left navigation.

1. Accounting Equation

   As you have learned in this week s readings the Accounting Equation is Assets = Liabilities + Owners Equity. Is the accounting equation true in all instances Provide sample transactions from your own experiences to demonstrate the validity of the Accounting Equation.

   Guided Response:
   Review several of your peers posts and identify some core components that you feel should be included in every transaction. Respond to at least two of your peers and provide recommendations to extend their thinking. Challenge your peers by asking a question that may cause them to reevaluate or add components to their transactions.

2. Accounts

   What does the term account mean What are the different classifications of accounts How do the rules for debits and credits impact accounts Please provide an example of how debits and credits impact accounts.

   Guided Response:
   Analyze several of your peers posts. Let at least two of your peers know if this knowledge could be used in their everyday lives. Is so, how If not, why not?

Exercise Assignment
To complete the following assignment, go to this week’s Assignment link in the left navigation.

Basic Accounting Equations

Please complete each of the exercises below in a word document. Save the document, and submit to in week using the Assignment Submission button.