W2

Part 1

Write a 150- to 200-word individual response to the following:

• Consider the multiple definitions of collaboration.
• Define collaboration and how you will apply it in this course based upon the discussion with your Learning Team. Be sure to reference and cite your sources.
• Answer the question individually.

Click the Assignment Files tab to submit your assignment and be sure to attach a copy of your Learning Team Charter for Collaborative Learning Activities.

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Part 2

Write a minimum 150-word response to each of the following scenarios from Exercise E3-1 in Financial Accounting (p. 132) describing the effect of each transaction on assets, liabilities, and stockholder's equity: 

• Selected transactions for Thyme Advertising Company, Inc.
  • Issued common stock to investors in exchange for cash received from investors.
  • Paid monthly rent.
  • Received cash from customers when service was performed.
  • Billed customers for services performed.
  • Paid dividend to stockholders.
  • Incurred advertising expense on account.
  • Received cash from customers billed in (4).
  • Purchased additional equipment for cash.
  • Purchased equipment on account. 

Use the Excel® spreadsheet to record your answers and submit with your responses.