CASE STUDY _ Financial Accounting Review Practice Set I Assignment Overview This assignment is a review of general nancial accounting principles and procedures. In this assignment you will create general journal entries for a series of transactions. You may optionally show the impact of these transactions on a set of t-accounts and you must create a trial balance and adjusted trial balance. You will then close out the income statement accounts as you would at year end. In a continuation of this assignment later this semester (see Module #10), you will explore how your journal entries might be created in an automated system by entering your \"manual\" journal entries into the SAP ERP system. The SAP system will then be used to produce a set of nancial statements (balance sheet and income statement). If you fail to successfully complete the Excel portion of this assignment it will be impossible to complete the SAP portion. I Global Bike Inc. (GBI) We will be working with a company called Global Bike Inc., (GBI). Information regarding GBI follows. Company History Global Bike Inc. has a pragmatic design philosophy that comes from its deep roots in both the off- road trail racing and long-distance road racing sports. Nearly 20 years ago, its founders designed their rst bikes out of necessitythey had races to win and the bikes that were available at the time did not perform to their extremely high standards. So, they took matters into their own hands and built legendary bikes that would outlast and outperform the competition. From these humble origins, Global Bike Incorporated was born and continues to deliver innovative high-performance bicycles to the world's most demanding riders. This heritage of entrepreneurial spirit and quest for design perfection is still the cornerstone of GBI's