ACCT 212 Week 1 Discussion 2: Course Project 1 Exercise 1-17A

ACCT 212 Week 1 Discussion 2: Course Project 1 Exercise 1-17A

In this graded discussion, we will be examining the operation of the Accounting Information System (AIS) with the use of problems and exercises from your textbook. The goal is to cover all of the requirements to ensure an opportunity for your successful completion of Course Project. Let’s start with Exercise 1-17A. Read about Coffee Shop Doughnuts and select one of the four requirements to answer. Back of Chapter 1 in the textbook..

 

Course Project – Exercise 1-17A

CoffeeShop Doughnuts has current assets of $280 million; property, plant, and equipment of $430 million; and other assets totaling $170 million. Current liabilities are $170 million and long-term liabilities total $300 million.

  1. Use these data to write Coffee Shop Doughnuts’ accounting equation.
  2. How much in resources does Coffee Shop have to work with?
  3. How much does CoffeeShop owe creditors?
  4. How much of the company’s assets do the CoffeeShop stockholders actually own?