Dr. Helen Brown is the sister of one of your old high school teachers. You have been given her email address by someone who thinks she might have advice for you during your job search. Please ‘send’ her an email introducing yourself and asking for help. I'm looking for a current job in accounting.

Dr. Helen Brown is the sister of one of your old high school teachers. You have been given her email address by someone who thinks she might have advice for you during your job search. Please ‘send’ her an email introducing yourself and asking for help. I'm looking for a current job in accounting.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter5: Completing The Accounting Cycle

Section: Chapter Questions

Problem 3TP: Assume you are a senior accountant and have been assigned the responsibility for making the entries...

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After graduating from Berkeley College and passing your CPA exam, you have opened up an accounting firm that offers tax and consulting services to clients. You have just picked up a new client who is very anxious about his expenses. The client considers his in house accounting services to be too high and he feels that he could save some time and money in that area by telling his accounting staff not to do closing entries. It is your job, in this discussion, to explain to your new client the importance of doing the closing entries and why they are worth doing.
Suppose you are a part of a group of students from a prominent university and were sent out as a team to work with a leading merchandizing company as a part of a work experience program. The team having been introduced to the general manger was told that the Accountant who normally prepares the financial statements has suddenly resigned and there is no one available to prepare the company’s financial statements which are now due. As aspiring university students, you and your group members have expressed an interest in taking on the task. As a group, you are required to collaborate and analyse the problem at hand then apply the accrual basis of accounting in the preparation of the company’s financial statements. See attached Unadjusted Trial Balance and instructions to complete question.
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Assume you are a senior accountant and have been assigned the responsibility for making the entries to close the books for the year. You have prepared the following four entries and presented them to your boss, the chief financial officer of the company, along with the company CEO, in the weekly staff meeting: As the CEO was reviewing your work, he asked the question, What do these entries mean? Can we learn anything about the company from reviewing them? Provide an explanation to give to the CEO about what the entries reveal about the companys operations this year.
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