In this essay assignment, we are covering Chapter 4, another tough chapter! Remember, choose a discussion post option that will help you learn, not just the easiest or quickest one!
Choose ONE of the three following questions to answer.
You only need to answer one. You do not receive extra points for answering all three.
Watch this
Animation: Closing the Books.
Can you think on another analogy (not sports related) on how closing the books relates to a reset of information? Also, the video describes the need to reset the information, but where can we find the long-term earnings of a company on the financial statements? (Be sure to answer both questions in your post).
Make your own video! Make a video explaining two of the four types of adjusting entries (prepaid items, unearned revenue, accrued revenues, accrued expenses). Your video should be 3-5 minutes long, and video quality (accuracy, entertainment value) will replace the spelling/grammar component of the grade.
Many students who are visual learners find it helpful to make concept maps (or mind maps). Make a concept map that explains the four types of adjusting entries (prepaid items, unearned revenue, accrued revenues, accrued expenses).
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