Assignment: Record Financial Data
Scenario
You are a certified public accountant (CPA) who is working with a small bakery to prepare their financial statements for three months of the current fiscal year. Because the company is a startup and so small, the accounting is done manually in Microsoft Excel. You have been given the accounts and information you need to prepare their financial statements, but you will need to use the accounting cycle to report accurate information to the finance department.
Prompt
Record Financial Data: Use accepted accounting principles to accurately capture business transactions for October, November, and December in the Company Accounting Workbook Template Spreadsheet using the data provided in the Accounting Data Appendix Word Document.
Specifically, you must address the following rubric criteria:
1) Accuracy: Prepare entries that are accurate in that they fully reflect the appropriate information.
2) Completeness: Prepare entries that are complete for each month, including transferring posted entries to T accounts.
3) Inventory Valuation: Prepare entries for the month of December to reflect the new line of products offered by the company, which includes using the entries from the "Inventory Valuation" tab to complete your journal for the month of December.
Format your assignment according to the following formatting requirements:
(1) The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
(2) The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
(3) Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.