Create your own company describing the nature of the company and what it provides (should be...
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Create your own company describing the nature of the company and what it provides (should be providing services and assume it is a sole proprietorship). Show in details the Accounting cycle (journalizing in general journal, posting in general ledger and preparing financial statements ) taking into consideration the following : • Transaction to start with not less than 25 transactions ( including at least one unearned and one prepaid transactions ) • Use the coding for the accounts used • During the adjusting period please make sure you have covered all six categories discussed in class • Make sure to show the method used to calculate the depreciation highlighting over the reason on choosing this specific method • Assume you are using the allowance method in estimating the uncollectible accounts for Accounts receivables . Create your own company describing the nature of the company and what it provides (should be providing services and assume it is a sole proprietorship). Show in details the Accounting cycle (journalizing in general journal, posting in general ledger and preparing financial statements ) taking into consideration the following : • Transaction to start with not less than 25 transactions ( including at least one unearned and one prepaid transactions ) • Use the coding for the accounts used • During the adjusting period please make sure you have covered all six categories discussed in class • Make sure to show the method used to calculate the depreciation highlighting over the reason on choosing this specific method • Assume you are using the allowance method in estimating the uncollectible accounts for Accounts receivables .
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Answer rating: 100% (QA)
Answer Explanation We assume that the company is providing educational services and is a sole proprietorship owned by Mr A Following are transactions that can be included Journal Entries Sr No Particu... View the full answer
Related Book For
Auditing a business risk appraoch
ISBN: 978-0324375589
6th Edition
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
Posted Date:
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