Question
Create your own company describing the nature of the company and what it provides (should be providing services and assume it is a sole
Create your own company describing the nature of the company and what it provides (should be providing services and assume it is a sole proprietorship). Show in details the Accounting cycle (journalizing in general journal, posting in general ledger and preparing financial statements) taking into consideration the following: Transaction to start with not less than 25 transactions (including at least one unearned and one prepaid transactions) Use the coding for the accounts used During the adjusting period please make sure you have covered all six categories discussed in class Make sure to show the method used to calculate the depreciation highlighting over the reason on choosing this specific method Assume you are using the allowance method in estimating the uncollectible ac- counts for Accounts receivables. The currency in use is the Egyptian pound (EGP) The capital starts from 300,000 to 500,000 EGP
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