Due in 6 Hours

Week 2 Assignment 1

Due: Submit by end of Day 2
Value: 30 points

Grading Rubric

Neither the Income Statement nor Balance Statement needs to be "correct."

Worksheet is used to enter transactions: 10%
Income Statement shows only revenue and expenses in proper categories: 20%
Balance Statement shows assets, liabilities, equity items in correct categories; retained earnings number is same number shown for profit or loss: 20%
Statements show fundamental understanding of the concept of accrual accounting: 50%