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Option #1: Problem Set For this Critical Thinking Assignment option, complete the following...

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Accounting

Option #1: Problem Set
For this Critical Thinking Assignment option, complete the following Review Questions from Chapter 4 of the Financial Management and Accounting Fundamentals for Construction textbook, listed on pp.93-94.
Review Question 1
What is the difference between journalizing and posting?
Review Question 4
Journalize the following transactions for Tip Top Associates, Inc., incurred during the month of July 19X4(assume accrual basis):
\table[[6-Jul,Initializing capital deposited in bank,$12,000
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Accounting