Acc 421 Week 4 Assignment P1,p2,p3 And P4

Individual Assignments Week 4 This assignment is worth a total of 75 points distributed evenly among the four problems. It will be graded based upon both the accuracy of your solutions (2/3) and effort (1/3). Points for effort will be impacted by poor formatting, poor organization, clear lack of effort, and careless errors. Any simple arithmetic errors, unbalanced journal entries, or unbalanced schedules will result in a significant point reduction for that problem. Show your work and double check your math and entries Problem 1 Grading This problem is worth a total of 18.75 points. There are 22 grading elements each worth 18.75 x 2/3 / 22 0.5682 points. There are 18.75 x 1/3 6.25 points available for effort. The FJF Company does not employ a full-time accountant. However they do employ a bookkeeper that records entries and attempts to prepare drafts of financial statements. You have been retained by the company to review the bookkeepers work and prepare correct financial statements for 2014. You have completed your review of the bookkeepers work and, based upon your review, the bookkeeper has prepared the following draft balance sheet for your review. FJF Company Balance sheet For the year ended December 31,