ACC 545 STUDY Start With a Dream /acc545study.com ACC 545 STUDY Start With a Dream /acc545study.com | Page 14

You should provide draft responses to the above questions as well as
providing your manager with a summary of your responsibilities in
one document (no more than 1,050 words).
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ACC 545 Week 2 ABC Company Income statement and
Balance Sheet Preparation
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www.acc545study.com
Resource: ABC Financial and Supplemental Data Excel®
spreadsheets, and footnotes from the Week 2 Learning Team
assignment
Calculate the deferred tax asset or liability of an error for the
scenario provided.
Calculate inventory calculation average cost, first-in-first-out
(FIFO), and last-in-first-out (LIFO). Record the calculated average
cost in the financial statement.
Calculate the straight-line depreciation.
Create an income statement using the results calculated above.
Create a balance sheet using the results calculated above. Insert
your Learning Team's footnotes into the balance sheet and income
statement. Identify in the footnotes the depreciation methods being