I’m studying for my Accounting class and need an explanation.

This assessment addresses the following course objective(s):

• Record various business transactions in accordance with generally accepted accounting principles

In this assignment, we will look at various merchant transactions from the buyer and seller’s perspective.

1. Download AC107 Unit 5 Buyer and Seller Template [Excel Spreadsheet]
2. Follow the instructions found in the template
3. Rename your spreadsheet adding your last name to the file name (Ex. AC107 Unit 5 Assignment – Journal Buyer and Seller LastName)
4. Submit your completed spreadsheet

This assessment addresses the following course objective(s):

• Record various business transactions in accordance with generally accepted accounting principles.
• Analyze the basic financial statements

In this assignment, we will learn that there are two methods in preparing an income statement, the single-step and multi-step, both use the same number and render the same results

1. Download AC107 Unit 5 Merchandise Template [Excel Spreadsheet]
2. Follow the instructions found in the template
3. Rename your spreadsheet adding your last name to the file name (Ex. AC107 Unit 5 Assignment – Calculate Merchandise LastName)
4. Submit your completed spreadsheet