ACCT101Principles of Accounting

• The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
• Assignments submitted through email will not be accepted.
• Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
• Students must mention question number clearly in their answer.
• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
• All answered must be typed using Times New Roman (size 12, double-spaced) No pictures containing text will be accepted and will be considered plagiarism).
• Submissions without this cover page will NOT be accepted.

Assignment Question(s):                                                       (5 Marks)

Q1-

A company wants to implement good internal control. What are the policies and procedures you can suggest to minimize human frauds and errors? (1Mark)

Q2-

Assume that you have a company. And the management team estimates that 3% of sales will be uncollectible.

Give any amount of sales and prepare the journal entry using the percent of sales method. (1Mark)

Q3-

A company that uses a perpetual inventory system made the following cash purchases and sales.  There was no beginning inventory.

A.Prepare general journal entries to record the March 16 sale using the

1. FIFO inventory valuation method.
2. LIFO inventory valuation method.
3. Weighted average valuation method.
4. What is the cost of goods sold and the gross margin for each method? (2Marks)

Q4. What is the bank reconciliation? why is it important for companies to prepare bank reconciliation periodically? (1Mark)

We confidently assure you of high-quality work. We engage several strategies to guarantee top-level assignments. The projects go through a thorough system of control before being submitted to the customers. Studentscoursework.com guarantees that the assignments delivered are 100 percent plagiarism-free.

We never share or resell customer’s work. Therefore, once it is checked using our plagiarism software, the assignment will be original. In terms of assignment completion, we adhere to the guidelines given by you and assign the work to the most suitable writer. We assign our writers based on various factors such as academic qualification, previous customer feedback, etc.

First and foremost, we provide high-quality work. However, in case you require extra-brilliance, here is what you can do. First, select a top writer who is proficient in a certain discipline. Second, you can seek our editing services.

Our team of editors revises the assignments, checking them to ensure they comply with the standards of academic writings. Additionally, editing may entail refining the language, adding more reference material, and making sure the formatting part is properly done. The editors may also enhance papers completed by yourself to meet your needs.

We guarantee the following quality in our work to you:

• Properly cited scholarly sources from assigned or outside reading and research.
• No wordy, vague, or poorly constructed sentences
• Clearly written and structurally sound sentences, with no grammar, spelling, and/or punctuation errors.
• Assignments with proper syntax, that demonstrates mastery of the subject, and with clear organization flow.
• Strict adherence to requested citation styles (i.e. APA, MLA, HARVARD, CHICAGO/TURABIAN)
• Proper page numbering, heading, spacing, and margins.
• Parenthetical citations are in the proper format, are properly punctuated, and are used at appropriate points to document source material.
• Plagiarism free guaranteed work.
• Expert proofreading.

We use the following tools to crosscheck our assignments:

• Turnitin
• Grammarly