Discussion Post
Part I
Write: Make sure your response addressing the following questions is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate. Use the University of Arizona Global Campus Writing Center resource, Citing Within Your Paper for guidelines on properly citing sources.
i. What accounts are included in each of the six major groups of accounts?
ii. State the normal balance of each of the six major groups.
iii. What effect does a debit and a credit have on each major group?
iv. How might an imbalance in debits and credits impact a business?
Part II
Write: Make sure your response addressing the following questions is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate.
i. What accounts are contained in the four financial statements?
ii. What order are the financial statements prepared?
iii. When the financial statements are prepared, which amounts are transferred from one statement to the next, and state how this transferred amount is used in the next statement?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.