The ability to determine the financial impact of transactions is an important skill that all business professionals should possess. T-accounts provide a valuable tool for analyzing the effects of transactions. This assignment provides you the opportunity to analyze various transactions using T-accounts and utilize the information to prepare a classified balance sheet. In addition, you will utilize the new concepts learned in this chapter to further analyze the financial statements of Urban Outfitters.
Complete P2-3 (pages 88–89) and CP2-2 (page 93) from Chapter 2 of your Financial Accounting textbook.
Submission Requirements
All quantitative assignments must be completed on the Microsoft Excel templates provided. Create one workbook with multiple tabs, copying each problem's template onto a separate tab and completing the work there. Submit this single file in the assignment area. Include your name and the assignment number in the file name; also include your name and the problem number on each tab of the document. All work should be shown. Assignments must not be submitted as a PDF.
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