Company Accounting ADM 1100/ADM 1300

January 11, 2021

THIS IS AN INDIVIDUAL ASSIGNMENT WORTH 50% MARKS
INSTRUCTIONS
1. Answer all questions.
2. Create a word document.
3. Type your answers to these questions in that document.
4. Save the document (or publish in pdf) and upload to the Bright Space Dropbox in the ADM 1100 M or ADM 1330 M Bright Space Drop Box (“In Class Assignment Room Folder”) by Saturday April 04 2020 @23:59. LATE ASSIGNMENT – 50% OFF
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1. What are revenues?
2. What are expenses?
3. What is an Income Statement?
4. What is a Balance Sheet?
5. What is an Asset?
6. What is a Liability?
7. What is Owner’s (Stockholders’) Equity?
Company Inc. reports the following assets and liabilities. Calculate the totals that would appear in the corporation’s basic accounting equation (Assets = Liabilities + Stockholders’ Equity (Capital Stock)).
 Cash………………………….$55,000
 Accounts Payable……………$25,000
 Office Supplies………………. $1, 500
 Loan Payable…………………..$7,000
 Accounts Receivable………….$10,000
Answer:
Assets = Liabilities + Stockholders’ Equity
______________ ______________ ____________

Grading Rubric

Grading Rubric

Your essays will be graded based on the following rubric:

Category	Unacceptable (0-1)	Needs Improvement (2-3)	Good (4)	Excellent (5)	Total Possible Points
Thesis (x3)	Essay has no clear flow of content and does not address the assignment.	Essay has incomplete or ill-defined thesis, and does not completely address the assignment. Content sometimes strays from the assigned topic.	Essay has thesis that addresses assignment. Some parts of essay could have more thoroughly supported thesis.	Essay has clear thesis that thoroughly and insightfully addresses all aspects of the assignment. All parts of the essay support the thesis and clearly and accurately make case.	15
Organization (x3)	There is no apparent organization to the essay. It shows some coherence but ideas lack unity.	There is some level of organization though digressions, ambiguities, irrelevance are too many. Transition evident but not used throughout essay.	Essay is coherent and logically organized with transitions used between ideas and paragraphs to create coherence. Overall unity of ideas is present.	Essay shows high degree of attention to logic and reasoning of points. Unity clearly leads the reader to the conclusion and stirs thought regarding the topic.	15
Logic (x3)	Essay lacks evidence of critical thinking. Uses superficial, simplistic, or irrelevant reasons and unjustifiable claims. Makes illogical, inconsistent inference.	Essay is primarily opinion without valid support. Little critical thinking is evident. Follows existing evidence to obtain conclusions.	Ideas are logical and reasoned, but demonstrate lesser degree of originality. Follows evidence and reason lead to obtain justifiable, logical conclusion.	Writer develops logical and reasoned independent ideas that go beyond predictable outcomes or the conclusions of researched materials. Follows where evidence and reason lead in order to obtain defensible, thoughtful, logical conclusions or solutions.	15
Grammar & Mechanics(x2)	Sentences are unclear and many grammatical errors in structure make essay virtually unreadable. Spelling, punctuation, capitalization, and vocabulary usage contain major flaws that impede readability.	Most spelling, punctuation, and grammar correct allowing reader to progress through essay. Some errors remain.	Essay has few spelling, punctuation, and grammatical errors allowing reader to follow ideas clearly. Very few fragments or run-ons.	Essay is free of distracting spelling, punctuation, and grammatical errors; absent of fragments, comma splices, and run-ons.	5