7.03 Completing the Accounting Cycle for a Merchandising Corporation - Part 1 1 Collecting and verifying source documents 2 Analyzing business

7.03 Completing the Accounting Cycle for a Merchandising Corporation

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Part 1: 1. Collecting and verifying source documents. 2. Analyzing business transactions. 3. Journalizing business transactions. 4. Posting journal entries to ledgers. 5. Preparing a trial balance. 6. Completing a worksheet. 7. Preparing financial statements. 8. Journalizing and posting adjusting entries. 9. Journalizing and posting closing entries. 10. Preparing a post-closing trial balance. Part 2 : Income Summary Sales $97,000.00 Sales Discount $1,000.00
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