Please respond to one of the following topics. Post your initial response by Wednesday and then interact with at least two of your classmates about what they have posted by Sunday.
TOPIC 1: Suppose you're an accountant whose job it is to calculate and recognize end-of-period adjusting entries. Your boss comes to you and suggests you "postpone" certain expense adjustments until the following period so the company's income statement will appear more favorable this period. "Besides", he explains, "Everything will come out the same in the long run". What would you do? What should you do? Is his statement correct, that everything will be the same in the long run?
TOPIC 2: What are the four basic types of adjusting entries? Give an example of each.