Reflection and Financial Reporting Problem Part I.

Discuss the objectives for ACC 290 Week Three.  How do they relate to the practice of accounting and its uses in business?  Prepare closing entries, reversing entries, and a post closing trial balance.  Prepare a financial statement work sheet.  Prepare a classified income statement, retained earnings statement and balance sheet. Write a 350 to 500 word summary of your Learning Team’s discussion.

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