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Topic 1: Endangered Species

Although humans; like all other living creatures, have had to make changes, adjustments, and adapt to survive and thrive, it is humankind that has also had a profound impact on the lives of other creatures on Earth. Sometimes this has been a beneficial impact, but in many cases, it has been a disaster for other creatures.

Review the  Discussion resources

Endangered Species

Using the Internet, your textbook or the Library, conduct some research on your own on an endangered species (plant or animal) of your choice. Consider the biological, ethical, and economic aspects that have led not only to its endangerment, but also the role humans have taken in protecting the species. Then, during the week, be sure to address the following:

· In a short paragraph (5–7 sentences) describe the species that you chose to learn more about and the basic reasons for its endangerment.

· What characteristics make some species more vulnerable to extinction, while others seem to thrive despite changes in their surroundings?

· How do the extinctions of other creatures affect humans directly and indirectly?

· Why are decisions about recovery and preservation of these creatures so complicated?

· What, if any, ethical responsibilities do humans have to other creatures on the planet?

· What sorts of trade-offs would you be willing to make in order to help protect an endangered species? Would you make the same trade-offs for all types of species (plants, insects, amphibians, etc.) in addition to those more popular species many people tend to be fonder of, like whales, tigers, and pandas?

· Later in the week, compare your chosen organism to some described by your classmates. Do they share any common features? For example, are they endangered for the same reasons? Do they share similar habitats or behaviors?

Discussion Overview

Throughout this course, many discussion opportunities come up where you need to respond to other people's opinions and comments. Address the Discussion topic after you have completed your reading.

Usage of Financial Statements in Business Decisions

Assume that you recently accepted a position with Stockman National Bank as an assistant loan officer. As one of your first duties, you have the responsibility of evaluating a loan request for $90,000 from Goldworks.com, a small proprietorship. In support of the loan application, Yolanda Tovar, owner, submitted a trial balance for the first year of operations ended March 31, 2020.

Use the trial balance to answer the questions.

· Explain to Yolanda Tovar why a set of financial statements (income statement, statement of owner’s equity, and balance sheet) would be useful to you in evaluating the loan request.

· In discussing the Trial Balance with Yolanda Tovar, you discovered that the accounts had not been adjusted at March 31. Analyze the Trial Balance and indicate possible adjusting entries that might be necessary before an accurate set of financial statements could be prepared.

· Assuming that an accurate set of financial statements will be submitted by Yolanda Tovar in a few days, what other considerations or information would be required before making a decision on a loan request?

· You noted that Goldworks.com’s trial balance is prepared through March 31, 2020. Why would the business close out its year on this date? What factors could influence this selection?