ACCT 212 DeVry Week 2 Complete Work Latest

ACCT 212 DeVry Week 2 Discussion 1

Last week, we discussed “The Language of Business” and why the accounting information system is important in business. This week, we are going to look at the mechanics of how it all works. It might be a bit easier if we started with an example which would be the Genie Car Wash, Inc. in Chapter 2 of your textbook. Pick a transaction from Genie and let us know how it impacts the accounting equation. Make sure to identify the two accounts impacted. Why is it important to record your selected transaction?

ACCT 212 DeVry Week 2 Discussion 2

In this graded discussion, we will be examining the operation of the Accounting Information System (AIS) with the use of problems and exercises from your textbook. The goal is to cover ACCT 212 all of the requirements to ensure an opportunity for your successful completion of read more the Course Project. As you complete the requirements of Week 2, you should review the Course Project tab in Course Home, as you could start work on the Project. The template for the Course Project is located in Doc Sharing.

Let’s start with Exercise 2-16A. Select one of the nine financial transactions of the medical practice of Bob Morin, P.C. Develop a journal entry with date and explanation. Post it in this discussion and then conduct peer reviews of your classmates. The next requirement is to select one of the five questions (a-e) and post an answer. Do show your computations.

ACCT 212 DeVry Week 2 Check Point

(TCO 2) A company received cash in exchange for issuing stock. This transaction increased assets and

increased expenses.

increased revenues.

increased liabilities.

increased equity.

Question 2. Question :

(TCO 2) A company performed services for a customer for cash. This transaction increased assets and

decreased equity.

increased liabilities.

increased expenses.

increased revenues.

Question 3. Question :

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