In this practice set, the student is tasked to perform bookkeeping duties for Arsenio M. Velasco (AMV) Bookstore and Educational Supplies. The business has just ended its initial year (2015), but the original accountant resigned for personal reasons.

As the newly hired bookkeeper, you need to perform the necessary procedures to record the transactions for its second year of operations (2016).

Accounting Practice Set At the end of this chapter, the learners should be able to: teaming Objective ..................... 1.perform the steps in the accounting cycle, from preparation of documents to the preparation, analysis, and interpretation of nancial statements. \fYou may use pencil in Crase your errors. ' Income Tax Expense will no 10\" ' If nccwsary. use the Asset McthOd an\" H ~ . ' You may always use the back Patio" of ' ' V spaces in front are not enough- 7 ' Round off your answers to the \"can\" whole \"um Ownel's Equin: NE on AMV's Books forlhoyeur 2015: