Accounting Assignment
1) Read the problem
2) Read the problem properly ( this time without going to youtube )
3) Journalize all entries, if you are using excel sum the debit and credit columns to make sure they are equal.
4) Create ledger accounts using as beginning balances the amounts in the trial balance provided
5) Post journal entries to ledger, make sure you don't forget any.
6) Create unadjusted trial balance from the ledger
7) Prepare adjusting entries and post to ledger
8) Prepare adjusted trial balance
9) Prepare closing entries, remembering to close Income summary to Retained earnings
10) Create the final trial balance
11) Prepare Income statement, Statement of retained earnings, and Balance sheet in that order
12) Add a couple of short footnotes explaining the depreciation and which inventory choices you made.
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 include 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.