ACC 557 Week 1, Chapter 1 (E1-4, E1-7, E1-11, P1-2A) Wiley Plus - Graded 100%.docx

ACC 557 Week 1, Chapter 1 (E1-4, E1-7, E1-11, P1-2A) Wiley Plus - Graded 100%.docx ACC 557 Week 1 Chapter 1 (E1-4, E1-7, E1-11, P1-2A) NEW ACC 557 Week 1, Chapter 1 (E1-4, E1-7, E1-11, P1-2A) E1-4 : The following situations involve accounting principles and assumptions. For each of the three situations, state if the accounting method used is correct or incorrect. If correct, identify which principle or assumption supports the method used. If incorrect, identify which principle or assumption has been violated........... E1-7 : Collins Computer Timeshare Company entered into the following transactions during May 2014. Describe the effect of each transaction on assets, liabilities, and stockholder's equity.......... E1-11 :Two items are omitted from each of the following summaries of balance sheet and income statement data for two corporations for the year 2014, Steven Craig and Georgia Enterprises. Determine the missing amounts........... P1- 2A: On August 31, the balance sheet of Donahue Veterinary Clinic showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Equipment $6,000, Accounts Payable $3,600, Common Stock $13,000, and Retained Earnings $700. During September, the following transactions occurred......................