Accounting Memorandum

Prepare a Report of Your work to your Boss

Scenario: You are a new hire for a major company and completing your 8-week rotation related to accounting, financial reporting, budgeting, cost control, and profit maximization. Each week, you will write a report.

For this week’s assignment, write a brief report in memorandum format of your activities this week as a Word document and upload it to this week's Homework assignment folder. This memorandum should include a response to the prompt below and a report of your work for the week.

Complete the report below and submit in the Assignment Folder.

Prompt One: Review your SEC 10-K company’s balance sheet.

After reviewing, write a memorandum that details the following: The journal entry used to record credit sales is debit accounts receivable, credit sales. Cash Receipts are recorded as Debit Cash and Credit Accounts Receivable.   Why would it be important for analysis that all sales to customers go through Accts Receivable? What is accounts receivable?

Prompt Two: Read the Chapter Summaries to Larry Walther’s Principle of Accounting available on this link here https://www.principlesofaccounting.com/author/. Thereafter, include a summary of each chapter in your report.

Prompt Three: Choose from one of these topics and provide a paragraph from your selected prompt.
• What resources did you find most/least helpful this week?
• What topic(s) gave you trouble this week (if any)?
• What topic(s) do you feel you were able to grasp?
• How might you change your time management or study habits?
• Comment on the value of the activities you completed this week

Remember all submissions and postings in our class must be in your own words. Deliverables are to be single-spaced with double spacing between paragraphs. You are writing a business report to your supervisor.

Overall, a review of Amazon’s consolidated balance sheet reveals that the company’s assets balance with its liabilities and stakeholders’ equity. A further review of the balance sheet suggests that Amazon experienced growth for the year ending December 31, 2017, in comparison to the previous financial period. The growth is evident in that the company's total assets increased by 57% from $83.402B reported in 2016 to $131.31B reported in the year ending December 31, 2017. The growth is further reflected in the liabilities and stockholder's equity, which increased by a similar margin....

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