ACC 290T Wk 5 Discussion - End of Year Transactions | eBooks | Education

ACC 290T Wk 5 Discussion - End of Year Transactions

ACC 290T Wk 5 Discussion - End of Year Transactions PLDZ-11961
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ACC 290T Wk 5 Discussion – End of Year Transactions

 

Post a total of 3 substantive responses over 2 separate days for full participation. This includes your initial post and 2 replies to other students.

Due Thursday 

Respond to the following in a minimum of 175 words:

On the last day of the fiscal year, a co-worker asks you to cut a check for $2,000 as a miscellaneous expense for supplies in order to complete a project for a VIP customer today. You notice the invoice looks a little different from other invoices that are usually processed. You know that by preparing the closing entries tomorrow, the miscellaneous expense will be set to zero for the beginning of the year.

Should you write this check today and record the expense or write the check tomorrow? How would the company be affected if the check is written and the invoice ends up being erroneous?

Due Monday 

Reply to at least 2 of your classmates. Be constructive and professional in your responses.

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