Question
The instructor decided it's just going to be everyone doing it themselves. Could you help me put this together? Directions: The expanded accounting equation consists
The instructor decided it's just going to be everyone doing it themselves. Could you help me put this together?
Directions: The expanded accounting equation consists of assets, liabilities, owner capital, withdrawals, revenues, and expenses. It can be used to reveal insights into changes in a companys financial position. Working in teams, you will become experts in the components of the equation. Your instructor will initially assign you two to three components depending on the number of teams there are. After components are assigned, you will be placed into groups where experts in all six components are addressed. The experts will be responsible for addressing the following for their assigned components: a. Identify the (i) increase and decrease sides of the account and (ii) normal balance side of the account. b. Describe a transaction, with amounts, that increases its component. c. Using the transaction and amounts in (b), verify the equality of the accounting equation and then explain any effects on the income statement and statement of cash flows. d. Describe a transaction, with amounts, that decreases its component. e. Using the transaction and amounts in (d), verify the equality of the accounting equation and then explain any effects on the income statement and statement of cash flows. As a team with parts a-e completed, you will then work together to create a PowerPoint presentation outlining the information collected for all six parts of the equation. In addition, your team will need to complete questions 1 & 2 for QS1-8 in your text. The information is also here for ease of reference:
Your grade on this project is made up of two parts. 80% of your grade is on the PowerPoint your group creates; every group member will get the same grade on this part of the assignment. 20% of the grade will based on feedback on your participation in the group from your group members. Follow the steps below to complete this assessment. These instructions apply to all groups. 1. Create a PowerPoint that reviews your groups assigned components. Your PowerPoint presentation should meet the following expectations: a. The PowerPoint contains a minimum of 10 slides of content (not including a title slide). b. The PowerPoint contains at minimum: i. Introduction to the expanded accounting equation ii. One slide outlining parts a-e for each component iii. Solutions to QS 1-8 questions 1 & 2 with work shown. iv. One slide with references c. Each slide contains appropriate wording and/or images. d. Each slide contains narrations to fully explain the content covered e. The final narrated PowerPoint is a minimum of 5 minutes in length. 2. Your group will work on this project together, as a group. It will be up to your group to determine when and how to meet to discuss the project and who is responsible for which portion(s) of the project. Each group member should submit the final completed PowerPoint individually.
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