Company Background: The Ramspart family owns and operates a wholesale-retail merchandising business organized as a corporation. The business, called Go Fly a Kite Inc., sells a variety of kites and paper airplanes to regional and local toy store businesses. Your teacher will assign a due date for this project. Working with Go Fly a Kite Inc. will give you an opportunity to complete the accounting cycle within an assigned time frame. Keeping the Accounting Records for Go Fly a Kite Inc.: Go Fly a Kite Inc. uses special journals and a general journal to record its business activity. Max Martin, Go Fly a Kite's previous accounting clerk, has already journalized and posted the transactions for December 1 through December 15. The transactions recorded thus far are included in the accounting stationery in your working papers. The transactions for December 16 through December 31 are shown on the following pages. Your Job Responsibilities: The forms for completing this activity are included in the working papers. As the accountant for Go Fly a Kite, you are to complete these tasks: (1) Record the remaining December transactions in the sales, cash receipts, purchases, cash payments, and general journals. (2) Post the individual amounts from the five journals to the accounts receivable and accounts payable subsidiary ledgers daily. (3) Post the individual amounts from the General columns of the cash receipts, purchases, cash payments, and general journal daily. (4) Foot, prove, total, and rule the special journals at the end of the month. (5) Post the column totals of the special journals to the general ledger. Use this order for posting: sales, cash receipts, purchases, and cash payments. (6) Prove cash. The balance shown on check stub 619 is $22,752.83. (7) Prepare a schedule of accounts receivable and a schedule of accounts payable. (8) Prepare a trial balance on a ten-column work sheet for the year ended December 31. C

Company Background: The Ramspart farnily owns and operates a wholesaleretail mcrchandising business otganized as a corporation. The business, called Go Fly a Kite Inc, sells a variety of kites and paper airplanes to regional and local toy store burinesses. Your teacher will assign a due date for this project. Working with Go Fly a Kite Inc. will give you an opportunity to complete the accounting cycle within an assigned time frame. Keeping the Accounting Records for Go Fly a Kite Ine. Go Fly a Kite Inc. uses special journals and a general journal to record its business activity. Max Martin, Go Fly a Xite's previous aceounting cletk, has already journalized and posted the transactions for December 1 through December 15. The transactions recorded thus far are included in the accounting stationery in your working papers. The transactions for December 16 through December 31 are shown on the following pager. Your Job Responsibilities: The forms for completing this activity are included in the working papers. As the accountant for Go Fly a Kite, you are to complete these tasks: (1) Record the remaining December transactions in the sales, cash receipts, purchases, cash payments, and general journals. (2) Post the individual amounts from the five journals to the accounts receivable and accounts payable subsidiary ledgen daily. (3) Post the individual amounts from the General columns of the cash receipts, purchases, cash payments, and general joumal daily. (4) Foot, prove, total, and rule the special journals at the end of the month. (5) Post the column totals of the special joumals to the general ledger. Use this order for posting: sales, cash receipts, purchases, and cash payments. (6) Prove cash. The balance shown on check stub 619 is 522,752.83. (7) Prepare a schedule of accounts receivable and a schedule of accounts payable. (8) Prepare a trial balance on a ten-column work sheet for the year ended December 31. Company Background: The Ramspart farnily owns and operates a wholesaleretail mcrchandising business otganized as a corporation. The business, called Go Fly a Kite Inc, sells a variety of kites and paper airplanes to regional and local toy store burinesses. Your teacher will assign a due date for this project. Working with Go Fly a Kite Inc. will give you an opportunity to complete the accounting cycle within an assigned time frame. Keeping the Accounting Records for Go Fly a Kite Ine. Go Fly a Kite Inc. uses special journals and a general journal to record its business activity. Max Martin, Go Fly a Xite's previous aceounting cletk, has already journalized and posted the transactions for December 1 through December 15. The transactions recorded thus far are included in the accounting stationery in your working papers. The transactions for December 16 through December 31 are shown on the following pager. Your Job Responsibilities: The forms for completing this activity are included in the working papers. As the accountant for Go Fly a Kite, you are to complete these tasks: (1) Record the remaining December transactions in the sales, cash receipts, purchases, cash payments, and general journals. (2) Post the individual amounts from the five journals to the accounts receivable and accounts payable subsidiary ledgen daily. (3) Post the individual amounts from the General columns of the cash receipts, purchases, cash payments, and general joumal daily. (4) Foot, prove, total, and rule the special journals at the end of the month. (5) Post the column totals of the special joumals to the general ledger. Use this order for posting: sales, cash receipts, purchases, and cash payments. (6) Prove cash. The balance shown on check stub 619 is 522,752.83. (7) Prepare a schedule of accounts receivable and a schedule of accounts payable. (8) Prepare a trial balance on a ten-column work sheet for the year ended December 31