Year-End Closing Process
Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.
Year-End Closing Process [WLOs: 1, 2, 3, 4] [CLOs: 1, 2]
Prior to beginning work on this discussion, read Chapter 4 in the textbook. In addition, the MyLab materials listed in the Recommended Resources section this week may provide more in-depth information for this discussion (optional).
Write: Make sure your response addressing the following questions is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate.
Describe the year-end closing process.
What are the four steps in the closing process? Provide an example journal entry for each.
What is the difference between temporary and permanent accounts?
Guided Response: Respond to at least two of your classmates by commenting on their posts. Do you agree with your peer’s explanations? Is there anything you would add to this conversation? If so, please share. Though two replies are the basic expectation for class discussions, for deeper engagement and learning you are encouraged to provide responses to any comments or questions others have given to you. Continuing to engage with peers and the instructor will further the conversation and provide you with opportunities to demonstrate your content expertise, critical thinking, and real-world experiences with the discussion topics.
Attendance Notification: To meet attendance requirements in this class, you must post to the discussion board at least once every 7 days. Completing work in MyAccountingLab does not count as attendance.
Answer preview to year-end closing process
APA
309 words
Get instant access to the full solution from yourhomeworksolutions by clicking the purchase button below