Assignment Instructions:
This assessment addresses the following course objective(s):
Describe the three functions of accounting Apply the accounting vocabulary Record various business transactions in accordance with generally accepted accounting principles.
Complete the steps of the Accounting Cycle.
Analyze the basic financial statements In this assignment, we will complete the accounting cycle by preparing closing entries that close out the balances of revenue and expenses (temporary or nominal accounts) to the Capital accounting using the Income Summary.
Download AC107 Unit 4 Closing TemplatePreview the document [Excel Spreadsheet]
Follow the instructions found in the template Rename your spreadsheet adding your last name to the file name. Submit your completed spreadsheet.
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Attachment:- Accounting Cycle.rar