Assignment - Building Blocks of Accounting - A Financial Perspective
Welcome to the worlds first ePractice case, an individualized, intemet generated and graded case study that focuses on the analytically portion of the accounting cycle while automating the repetitive posting cycle.
Step I - The Chart of Accounts
The chart of accounts includes all of the accounts that you can use to solve your case. You may want to print the chart of accounts and use it as an easy reference guide.
Step II - Journalizing the Transactions.
Using your unique transactions record the corresponding general journal entry, rounding to two decimal places.
Step III - Worksheet
Although not graded, you need to complete the Worksheet. If each of your journal entries are in balance then your Unadjusted Trial Balance and the Adjusting Entry columns will be in balance. Your Adjusted Trial Balance will balance when you place each of the account balances into the correct debit or credit position in the Adjusted Trial Balance section of the Worksheet. .
Step IV - Prepare the Financial Statements.
After you have entered all of the transactions and prepared the Worksheet, you are to prepare the Income Statement, Shareholder's Equity Statement and Balance Sheet using the forms provided.
Step V - Prepare the Closing Entries.
Based upon the information from your Worksheet or from your Financial Statements, prepare the closing entries.
Attachment:- Assignment File.rar