ACC 291 Week 3 Reflection Summary

Discuss the objectives for Week Two and Week Three. How do they relate to the practice of accounting and its uses in business?

• Differentiate accounts payable, notes payable, and accrued expenses.
• Prepare necessary journal entries to record the issuance of bonds, the periodic interest, and amortization of bond premiums and discounts.
• Calculate depreciation and amortization expense using various methods.
• Differentiate types of stocks issued by corporations.
  • Calculate stocks, dividends, and stock splits.
• Record treasury stock transactions.

Write a 350- to 500-word summary of your Learning Team’s discussion