Create your own company describing the nature of the company and what it provides (should be providing services like consulting and digital marketing, not retail (no COGs)), 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 Complete the accounting cycle till closing stage and present all financial statements and reports needed .
Create your own company describing the nature of the company and what it provides (should be providing services like consulting and digital marketing, not retail (no COGs)), 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 Complete the accounting cycle till closing stage and present all financial statements and reports needed .
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Create your own company describing the nature of the company and what it provides (should be providing services like consulting and digital marketing, not retail (no COGs)), 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 - Complete the accounting cycle till closing stage and present all financial statements and reports needed .
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