DQ-1) In the spotlight about FedEx Corporation, you get a feel for the amount of investment in assets and the resulting liabilities that are required to operate a competitive corporation. Even small businesses require plant, property and equipment to compete and normally rely on some form of debt to finance itself. Let’s start up a company that sells auto parts like Napa or Auto Zone. What assets would we require? How might we finance them?

DQ-2)Go to Course Home and review the Course Project tab. Continue to use the Course Project template from Doc Sharing. In this graded discussion, we will be examining the operation of the Accounting Information System (AIS) with the use of problems and exercises from your textbook. The goal is to cover all of the requirements to ensure an opportunity for your successful completion of Course Project 1 – Part B.

Let’s start with Exercise 3-31A. For the Draper Production Company select one adjusting and one closing entry requirement. Develop the journal entry for review by your peers. Make sure to reference any page numbers of examples you are using. Hint: Revisit the Week 2 Lecture.