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Recognize the importance of accounting ethics and interperson resolving accounting issues. Interpret and apply Generally Accepted Accounting Principles (GAAP) to analyze, record, and report

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Recognize the importance of accounting ethics and interperson resolving accounting issues. Interpret and apply Generally Accepted Accounting Principles (GAAP) to analyze, record, and report financial information for a service business using computerization. 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, put the transactions in pro forma and complete the Word document OR the Excel template provided in Blackboard. (10 transactions @5 pts required journal entries, posting, and check your work with a trial balance. Use this each, 20 general ledger postings @ 1.5 pts each, and Trial Balance 20 pts total) 1-Mar The owner of KJO Withholdings invested $75,000 cash into the company. 2-Mar The company purchased $2,725 worth of supplies on account. 5-Mar The company purchased equipment worth $5,700 on the account. Paid 24 months of insurance in advance for $4,500 cash. 15-Mar Received $8,525 cash for services rendered to WBR Inc. 17-Mar The company billed D&T Automotive $5,520 for services rendered. 12-Mar 20-Mar Received a down payment of $3,570 cash for work to be performed next from WBR Inc. 25-Mar The owner withdrew $2,000 for personal use.

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