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What are the steps in completing the accounting cycle? Discuss the relationship between the amounts on the adjusted trial balance for an account and its ledger? Discuss the relationship of the adjusted trial balance and the amount on the financial statements? What is the affect on the financial statements of missing a step when completing the accounting cycle? What are the main financial statements? In order of importance, list the statements. Why did you rank the statements in the order you did? Why does GAAP require all statements? Why is it necessary to prepare the formal financial statements if all the data are on the adjusted trial balance?

Week 3:

Individual Assignments

Assignments from the Readings

Prepare written answers to the following assignments from Chapter 3 of the text, Financial Accounting 6th ed:

a. Questions 2, 3, 4 and 8

b. Exercise E3-7

c. Exercise E3-8

Learning Team Assignments

Assignments from the Readings

Prepare written answers to the following assignments from Chapter 3 of the text, Financial Accounting 6th ed:

a. Exercise E3-2

b. Problem P3-2A

Discussion Questions:

Week 3:

What are the steps in completing the accounting cycle? Discuss the relationship between the amounts on the adjusted trial balance for an account and its ledger? Discuss the relationship of the adjusted trial balance and the amount on the financial statements? What is the affect on the financial statements of missing a step when completing the accounting cycle?

What are the main financial statements? In order of importance, list the statements. Why did you rank the statements in the order you did? Why does GAAP require all statements? Why is it necessary to prepare the formal financial statements if all the data are on the adjusted trial balance?

Interested in a PLAGIARISM-FREE paper based on these particular instructions?...with 100% confidentiality?

Order Now