Select any merchandising company of your choice. Collect 50 representative transactions covering one month of that company ( repetitive transactions should be combined, for example, there may be numerous transactions related to purchase, sale, cash receipts, cash payments and so on in one day)

The report should include the following:

Table of contents

Executive summary

Brief profile of the company

Descriptions of transactions

Recording of transactions in the Special Journals (Sales, Purchase, Cash receipts and Cash Payments)

Posting of transactions to the respective accounts in the General Ledger

Posting of transactions to the respective accounts in Subsidiary Ledger ( Accounts Receivable and Accounts Payable Ledger)

Preparation of Trial Balance

Completions of Accounting Cycle

Recording and posting of Adjusting Entries

Recording and posting of Closing Entries

Preparation of Post-closing Trial Balance

Answer rating: 100% (QA)

Table of Contents 1 Executive Summary 2 Brief Profile of the Company 3 Descriptions of Transactions ... View the full answer