Impact of adjusting entries on financial statements

Adjusting Entries

Activity Context Revisit the MBA6014 Course Alignment Map to review how all activities assist you in achieving the course competencies and overall program outcomes.

Activity Instructions

This assignment addresses the impact of adjusting entries on financial statements and will help you to demonstrate your understanding of deferred revenue, deferred expense, accrued revenue, and accrued expense, as well as your understanding of the accounting entries that record these items in the accounting system.

Complete P4-7 (page 209) and CP4-2 (page 217) from Chapter 4 of your Financial Accounting textbook. (see attachment)

Submission Requirements

All quantitative assignments must be completed on the Microsoft Excel templates provided. Create one workbook with multiple tabs, copying each problem’s template onto a separate tab and completing the work there. Submit this single file in the assignment area. Include your name and the assignment number in the file name; also include your name and the problem number on each tab of the document. All work should be shown. Assignments must not be submitted as a PDF.

Refer to the scoring guide for this assignment to ensure that you meet the grading criteria. Note that one scoring guide is used to evaluate both of the problems in this assessment; each criterion in the scoring guide relates to one or both of the problems here.

Resources

o Adjusting Entries Scoring Guide.

o CP4-2 template.

o P4-7 template.

o MBA6014 Course Alignment Map