Accounting Cycle Project

Accounting Cycle Project - Accounting Cycle Project Solid...

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Solid Footing 4e Copyright © 2008 Before you begin your project, you will need to enter your ACP ID Code and Micro Solve, Inc. Your Name. Your ACP ID Code can be found inside the front cover of your Instructor: Solid Footing book. Class Time: Instructions: You will be recording the July 2009 transactions for Lenny's Lawn Service, Inc. After recording the July transactions you will be preparing a Pre-Closing Trial Balance, Income Statement, Statement of Stockholders' Equity, Balance Sheet, and Post-Closing Trial Balance. As you work on your project, be sure to save your Excel file often. You are given the following: Statement of Stockholders' Equity, Balance Sheet, and Post-Closing Trial Balance To Complete Your Project do the following: your entries directly into the General Journal. Look at the July 1 Notes Payable Steps 1 and 2 transaction, which has already been entered, for an example of how to make your entries. in the Accounting Cycle as a reference source for the Account Numbers and Account Names that are available Step 1 in Lenny's accounting system. For each business transaction that occurs during the accounting period, determine the effect of the transaction on the General Ledger accounts. Step 2 Record your postings directly into the General Ledger. As you post an amount to an account Make an entry in the General be sure to enter the Journal Reference as the Page # from the General Journal. Journal for each transaction and See the first posting to the Cash account for an example. After you post an amount to a post the entry to the General Ledger accounts. General Journal. This will help you keep track of which entries you have posted. A ccounting C ycle P roject Solid Footing 4e Click this Button to Enter Your ACP ID Code and Your Name Æ Be sure to complete and turn-in the blue A ccounting C ycle P roject Registration Form to your instructor. July 2009 transactions and Additional Information -- Trans tab Chart of Accounts with Account Numbers and Account Names -- Chart Accts tab General Journal pages -- Journal tab Lenny's General Ledger -- GL Assets, GL Liab-Equity, GL Rev-Exp-Div tabs Forms for the July 31, 2009 Pre-Closing Trial Balance, Income Statement, Trial Bal, IS & SEquity, BalSht, and Post Close TB tabs Print the July Transactions (click the Trans tab and then click the Printer Icon) Print the Chart of Accounts (click the Chart Accts tab and then click the Printer Icon) Record the July transactions in the General Journal. Click the Journal tab and record Do not put the " X " in the Posted column at this time. Use the printed Chart of Accounts To make posting from the General Journal to the General Ledger easier, it is recommended that you print the General Journal -- click the Journal tab and then click the Printer Icon. Post the entries from the printed General Journal to the General Ledger accounts.
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This note was uploaded on 09/03/2009 for the course ACC ACC 231 taught by Professor Samuels during the Winter '09 term at ASU.

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Accounting Cycle Project - Accounting Cycle Project Solid...

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