Task:
For this assignment, you will choose one of two selected exercises listed below from the Revenue Recognition chapter of the ACCT 351 Spiceland text (ch. 5 in 9th ed; ch. 6 in 10th ed.), and write a paragraph explaining the solution to the company’s accounting question on a separate Word Document. Only Word Documents will be accepted. Please upload the paragraph on or by the deadline stated in the Class Schedule.
For the selected exercise, you will write an explanation of the answer as a paragraph, with a topic sentence, summary of the applicable accounting principle, and application of the accounting principle to the problem’s facts.
You should consult the materials on the Canvas Module: Explaining a Solution to a Financial Accounting Problem, including the Ski West Sample and the ACCT 351 Exercise Explanation Rubric.
Use the ACCT 351 Financial Accounting text (by Spiceland et. al) (also known as the “Spiceland text”). as your source of accounting principles. We have not yet covered FASB ASC citations, so you do not need to include an actual FASB ASC cite. The Spiceland text is your source of the accounting principle for this exercise.
For this assignment, you may choose one of the following two Ch. 6 Brief Exercises (BE)in the ACCT 351 Spiceland text (10th ed.) that appear as Ch. 5 exercises 5-2 and 5-3 in the Spiceland 9th edition.
Again, choose only one of two of the following:
BE 6-2 – Estate Construction/CyberB
BE 6-3 – Varga Tech Services/Shaffer Holdings
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