ACC 201 week 1 Assignment 1.DOC

ACC 201 week 1 Assignment 1

Chapter 1 and 2 practice exercise

Shantae Lovett

ACC: 201

Instructor: LaKeitha Givens

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercise 1-2: Assume that Kennedy Company acquires $1,600 cash from creditors and $1,800 cash from investors.

Required
a. Explain the primary differences between investors and creditors.

Answer:

The primary difference between creditors and investors is a creditor you must pay back the money borrowed and most of the time there is interest. An investor is someone that is investing in the company and normally has stock from doing so. If the company does not make i
Powered by