ACC 225
Axia College of University of Phoenix (UoP)
Financial Accounting
Larson, K. D., Wild, J. J., & Chiappetta B. (2005). Fundamental accounting principles (17th ed.)
ACC 225 Week 4 Solution
1. CheckPoint: Preparing Balance Sheets and Statements
• Resource: Fundamental Accounting Principles, pp. 156 & 159
• Complete Quick Study question 4-2 & 4-7 on p. 156 & 157 and Exercises 4-4 & 4-5 on p. 159.
Quick Study Question 4-2 (QS 4-2) SOLUTION
Quick Study question 4-7 (QS 4-7) SOLUTION
Exercises 4-4 (E4-4) SOLUTION
Exercises 4-5 (E4-5) SOLUTION
2. Assignment: Preparing Entries and Statements
• Resources: Fundamental Accounting Principles, pp. 165–167
• Complete problems 4-5A (all requirements must be completed). When responding to the analysis component of 4-5A, think critically about the possible errors that are described. In your answer, carefully analyze the worksheet as if the errors were made and present the evidence for your explanation. Identify the consequences of the errors and describe their affect on the financial statements. Explain whether the error is likely to be discovered when completing the worksheet.
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