Discussion 1: Adjusting Entries
Prior to beginning work on this discussion, read Chapter 3 in the textbook. In addition, the MyLab materials listed in the Recommended Resources section this week may provide more in-depth information for this discussion (optional).
Write: Make sure your response addressing the following questions is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate.
• What are adjusting entries and why are they made? Explain your statements.
• Give an example of an adjusting entry for each of the four major groups of adjusting entries.
Your journal entries for each of the four types should include two entries. The first entry will establish the account and the second entry will adjust the account.
Discussion 2:
Prior to beginning work on this discussion, read Chapter 4 in the textbook. In addition, the MyLab materials listed in the Recommended Resources section this week may provide more in-depth information for this discussion (optional).
Write: Make sure your response addressing the following questions is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate.
• Describe the year-end closing process.
• What are the four steps in the closing process? Provide an example journal entry for each.
• What is the difference between temporary and permanent accounts?
Miller-Nobles, T. L., Mattison, B. L., & Matsumura, E. M. (2018). Horngren's accounting (12th ed.).
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.