COMPREHENSIVE PROJECT ASSIGNMENT
Increasingly harsh winters in the Cape Fear area led to an idea for Fred Porter and Angela Owens. They met at their local hardware store when they were both seeking wood fuel pellets, and they complained to each other about how the store consistently runs out of them. They determined that there was a significant market for wood fuel pellets in home heating during winter months. The clean, efficient method of heating is especially useful for residents of North Carolina because wood fuel pellets are often made from the discarded materials of furniture manufacturers and because of the abundance of pine trees within the State. As such, Fred and Angela decided to open Cape Fear Wood Pellet Distributors, Inc.
Prepare ALL adjusting entries. The company uses the FIFO inventory system and depreciates assets using the straight line method. Prepare an adjusted trial balance and the appropriate financial statements (Income Statement, Statement of Ret Earnings, and Balance Sheet). Prepare all closing entries and prepare for the next month.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.
Attachment:- Project-Assignment.rar