Dq 1&2 week4

week4dq12.pdf

Dq1

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.

• What is internal control and how can it protect a company’s assets?

• What are the various internal control procedures with respect to cash receipts and

payments?

• When preparing a bank reconciliation, what are the different adjustments that affect

the book and bank side?

• Why do journal entries need to be prepared after completing the bank reconciliation?

• Provide three example journal entries with a description of the adjustment.

Guided Response: Respond to at least two of your classmates by commenting on their posts.

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.

Dq2

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.

• What is the difference between the direct write-off method and the allowance method

for receivables?

• (1) Prepare the journal entry to write off an account using the direct method, and (2)