Provide a thorough and broad overview of all four types of adjusting entries. In addition, provide an illustration of each type of adjusting entry.

Describe the closing entry process in terms of how it works and the purpose it serves.

Discuss the differences in the journal entries used to account for inventory under the perpetual inventory method v. the periodic inventory method. Also, address the significant difference between the two methods. Identify which method is conceptually superior.

Describe how the FIFO, LIFO, and Moving Average Inventory Costing methods work in the perpetual inventory system. Identify the advantage and disadvantages of each method.

Describe the general purpose, process, and challenges of putting together a bank reconciliation and maintaining a Petty Cash Fund.

Discuss the purpose and application of the Allowance Method for Uncollectible Accounts. Identify alternative methods and how they work.

Why are tangible assets depreciated? Briefly described two or three depreciation methods and how they work.

Discuss and elaborate on the different withholdings that are withheld from employees’ pay. Discuss how each is computed.

Identify what bond discounts and bond premiums are and why we have to amortize them.

Discuss the definition, purpose, and types of stock corporations can issue. Make sure your response includes a discussion of par value common stock, no par value common stock, stated value common stock, par value preferred stock, and treasury stock.