Answer the THREE following questions in a meaningful and detailed manner with examples:
1) What would be your process for invoices received for an existing vendor vs a new vendor?
2) During year end, you find a $200,000 invoice that was entered into Accounts Payable and expensed in full the last period of the year. You discover that it should be expensed over the next 12 months starting the last period; it has not been paid. What entries were booked and what adjustments need to be made?
3) Pretend you work in the accounting department of a luxury jewelry store chain. You receive an invoice that must be allocated among all stores. Please explain how you would accomplish this task? Note: Please write the question and answer to each correspondent question so I can know which answer is to what question.
The post Accounting Assignment appeared first on PapersSpot.