Respond to the Following Questions Based on Accounting
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Post a 200-300-word response to the following discussion question.
#1 What are the financial statements? What information does each one offer? How are they used to communicate financial health? Which financial statement is most important? Why?
Post a 200-300-word response to the following discussion question.
#2 Why are adjusting journal entries necessary? What would be the effect if a corporation failed to journalize and post adjusting entries?
Post a 200-300-word response to the following discussion question.
#3 What is the difference between a prepaid expense and an accrued expense? Provide an example.
Please provide any references used Thank you
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