A minimum of two discussion entries must be made for each topic. Be sure to enter at least two responses: the first one to answer the Discussion Question, and the second as an interaction with another post (a minimum of three sentences consisting of a comment, an...
Follow the directions for each question. Question #1, will help you understand the asset presentation on the balance sheet during the reconciliation process. Presentation is as important as accuracy for financial statements. **Note: Remember to use the Excel file and...
Assignment Description: Use the transactions below to prepare an accounting equation and Income statement. See the example below of a journal entry. Also, remember to use the excel file and watch the video attached to this module to assist you with the assignment....
Discussion Question: Jay Simons is opening his own business, and he is trying to decide whether to use accrual or cash basis accounting. Jay does not have a good understanding of how to read financial statements. Is it a good idea or not for Jay to use the accrual...
To ensure financials are reported accurately, the CFO will review the account reconciliation reports from the balance sheet. The CFO reviewed the bank reconciliation and noticed a fictitious amount of $400 was recorded. The original journal entry was $400 credit to...
Assignment Description: The key to understanding how to create financial statements is to know which statement each account (bank, accounts payable, utility expense, etc.) will appear on. See the video in Additional Resources for more detailed instructions. Use the...
