accounting questions and balance sheets

Week 1 Discussion
To receive full credit for Week One of the discussion board, you must post the following:

At least one answer from any chapter assigned (Chapters 1-3)
At least two replies to the posts of other students

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 For full credit you must complete a total of THREE significant posts
Keep in mind that THREE posts is the minimum required, but more involvement on your part will increase the benefit you will receive from this class.
Chapter 1 Introduction to Accounting and Business
Describe the types and forms of businesses, how businesses make money, and business stakeholders.
Describe the three business activities of financing, investing, and operating.
Define accounting and describe its role in business.
Describe and illustrate the basic financial statements and how they interrelate.
Describe eight accounting concepts underlying financial reporting
.
Chapter 2 Analyzing Transactions
Describe the basic elements of a financial accounting information system.
How do you analyze, record, and summarize transactions for a corporation’s first period of operations?
How do you prepare financial statements for a corporation’s first period of operations?

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