Liability Essay Topics

Accounting Equation Paper

The basic accounting equation is: Assets = Liabilities + Stockholders’ Equity. When looking at the balance sheet one can assume that assets must balance out each transaction and balance the claims to the assets (Kimmel, 2010). A balance sheet provides Assets of the company first and foremost, then Liabilities and Stockholders’ Equity and last retained… View Article

Assertions and Audit evidence

1. The allowance for doubtful accounts is fairly presented in amount. * Valuation or allocation assertion 2. All accounts payable owed as of the balance sheet date are included in the financial statements. * Existence or occurrence assertion 3. All purchase returns recorded in the general ledger are valid. * Existence or occurrence assertion 4…. View Article

Susan Wong’s Budget

Introduction Section I: Problem Description Susan Wong graduated from State University and was hired by a computer firm in the Washington, D.C. area. In college, her parents provided money for Susan’s gas, telephone, and credit cards. Susan’s mother and father created a bank account to address her financial needs. Susan never had to be concerned… View Article