devry acct 212 week 4 discussion

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Description

Week 4 discussions

Inventory Management (graded)

A
review of the balance sheet of a retailer, such as Wal-Mart, will disclose that
in current assets the majority investment is in inventory. With manufacturers,
such as Ford, the inventory is spread between three different categories. Let’s
start our discussion with some basic inventory questions. How is inventory
valued? Which inventory valuation method is most popular and why? What impact
on the financial reports can the selection of an inventory valuation method
have?

Course Project 1 Part A (graded)

Go to Course Home and review the Course Project
tab. Continue to use the Course Project template from Doc Sharing. In this
graded discussion, we will be examining the operation of the Accounting
Information System (AIS) with the use of problems and exercises from your
textbook. The goal is to cover all of the requirements to ensure an opportunity
for your successful completion of Course Project 1 – Part B.

Let’s start with Exercise 3-22A and practice
developing journal entries to make adjustments. Select one of the six
transactions and develop the adjusting journal entry. If you are using an
example found in the textbook do mention the page number.

Adjusting
Entries

Account

Debit

Credit

Insurance
Expense

900

Prepaid
Insurance

900

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