Deadline

Please refer to your tracking calendar.

Completing this assessment will help you to meet the following:

Course Outcomes

Recognize the importance of accounting ethics and interpersonal skills when resolving accounting issues.

Interpret and apply Generally Accepted Accounting Principles $($GAAP$)$ to analyze, record, and report financial information for a service business using computerization.

Analyze basic financial statements.

Evaluate a complete accounting cycle, including the analysis and recording process, through post$-$closing trial balance, for a service business using computerization.

Directions

Using the information below, your employer asked you to create Financial Statements from the Adjusted Trial Balance. Be sure to do the Income Statement, Statement of Owner's Equity, and Balance Sheet for the company. Make sure you do each Financial Statement in good form. Continue to use this Word document OR the Excel templates provided in Blackboard.

$\backslash$table$[[$KJO Withholdings$],[$Adjusted Trial Balance$],[$Account$,$Act. #$,$Debit,Credit$],[$Cash$,101,78,839\mathrm{.}82,],[$Accounts Receivable,$105,2,760\mathrm{.}00,],[$Supplies$,108,1,795\mathrm{.}00,],[$Prepaid Insurance,$111,3,937\mathrm{.}50,],[$Equipment$,150,5,700\mathrm{.}00,],[$Accumulated Depreciation$-$ Equipment,$150\mathrm{.}1,,210\mathrm{.}00],[$Accounts Payable,$210,,8,425\mathrm{.}00$