The purpose of this assignment is to apply concepts associated with related party transactions.

FASB ASC Topic 850 covers what companies must disclose regarding related party transactions. To apply the concepts and disclosure requirements of related party transactions, provide a thorough written response for requirements 2, 3, and 4 of Case C5-4 in Chapter 5 of the text.

The assignment should be in the form of a 500-700-word memo to your professor. Authoritative sources need to be included to support your responses.

Save your document using the filename LastnameFirstinitial.ACC660.T# where the # represents the topic number. For example, John Doe would submit assignment #3 using the following name: DoeJ.ACC660.T3.

While APA style is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. A link to the LopesWrite technical support articles is located in Class Resources if you need assistance.