ACC 305 Intermediate Accounting I

• Chapters 4 and 5 in the textbook

Write: Make sure your response addressing the following question is more than 200 words and includes an in-text citation or a brief quote from the reading material where appropriate. You may want to review the Citing Within Your Paper (Links to an external site.) resource from the Ashford Writing Center for proper use of citations.

If reversing entries are used for events such as accrued payroll at year’s end, how would the company’s accounting be affected if reversing entries were not made for payroll? What are the potential consequences for the business?

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.