College of Administrative and Financial Sciences
Assignment 2
Deadline: 18/2/2023@ 23:59
Course Name:Principles of Accounting StudentàName:
Course Code: ACCT 101
StudentàID Number:
Semester: II
CRN:
Academic Year: 1444 H
For InstructoràUse only
InstructoràName:
Students rade: / 15
Level of Marks: High/Middle/Low
Instructions LEASE READ THEM CAREFULLY
he Assignment must be submitted on Blackboard (WORD format only) via allocated
folder.
ssignments submitted through email will not be accepted.
tudents 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.
tudents must mention question number clearly in their answer.
ate submission will NOT be accepted.
void 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.
ll answered must be typed using Times New Roman (size 12, double-spaced) font.
No pictures containing text will be accepted and will be considered plagiarism).
ubmissions without this cover page will NOT be accepted.
1
Assignment Question(s):
(Marks15)
Q1. Suppose you are an auditor who has been tasked with looking into the internal
controls at a company. How can you evaluate the company’s internal controls to see if
they are sufficient?
(5Marks)
Q2. Why do companies use the allowance method to account for bad debts? Describe
the diverse methods used to estimate bad debts in an accounting system. Provide
examples for each method.
(5Marks)
Q3. Consider that you own a business that purchases equipment for 50,000SR. How
would you calculate this asset’s depreciation? Use the different methods to depreciate
the equipment.
Note: To calculate depreciation, you must provide the salvage value, useful life, and
annual units produced.
(5Marks)
2

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