Case Analysis Accounting cycle is what should be performed in step by step for every period of time of the business entity life. This cycle is starting by recognition and measurement of transactions and ending by reporting the financial statements. What is between recognition, measurement, and reporting is named bookkeeping. Bookkeeping is the double entry work using general journal and general ledger. Required Using the below common list of general ledger accounts:: (You are free to use what you need based on your case) Account Name Cash Supplies Accounts receivable Prepaid rent Prepaid insurance Equipment Buildings Machines Furniture Account Type Asset Asset Asset Asset Asset Asset Asset Asset Asset Trucks Asset Accounts payable Liability Unearned revenues Liability Bank loan Hamdan' Capital Service revenue Liability Equity Revenues Salary expense expenses Rent expense expenses Insurance expense expenses Advertising expense expenses Utility expense expenses Stationary expense expenses Interest expense expenses Maintenance expense expenses Transportation expense expenses Depreciation expense Expense Supplies expense Expense