Case2 ACC201
Part 1
Write a minimum of 300 words about the role of the balance sheet as one of the four required financial statements.
- Comment on some significant characteristics of the balance sheet.
- Who is interested in the information?
- What kind of information does the balance sheet convey to users?
Part 2
Review the background material for the second module before attempting the case below in order to answer a series of questions about the balance sheet for ABC Company shown below. Start with the accounting equation and pay attention to definitions of assets, liabilities, and equity.
The background information for the module includes the basic concepts, but for more ideas, go to the optional background source principlesofaccounting.com. The site also offers multiple videos that you may find relevant. You may also use other sites for ideas to complete the table. Do not forget to reference the sources used.
Please see attached files for assignment details.
Please use attached APA Template for assignment.