In this module, you have learned to account for cash and cash equivalents, accounts receivables including the allowance for bad debts, inventory cost flow, and the establishment of internal controls. Accounting for these assets is especially important given that they are critical elements of working capital. In the exercises and problems this week, you will evaluate internal controls as they pertain to cash, receivables, and inventories. You will prepare a bank reconciliation and account for bad debts using different methods of estimation. Additionally, you’ll learn to account for inventories using multiple costing methods such as FIFO, LIFO, and average cost and evaluate the operating cycle based on inventory turnover. Complete the following exercises from the textbook for Module 4: Exercises 7.2, 7.5, 7.8, Problem 7.3A, Exercises 8.2, 8.10, 8.13, Problem 8.1A. [MO 4.1, MO 4.2, MO 4.3, MO 4.4] Please use the template linked below for your assignment. Each of the exercises is located on a separate tab at the bottom of the template. Module 4 Homework Template “New Window”
