Scenario

You were recently hired as an entry-level bookkeeper for a service business that recently opened. This is the first month in operation for the business and your first task is to record business transactions for their first month using the source documents and transaction data the owner will provide to you. Because this is a small business that does not use computerized accounting, you will apply the accounting cycle in Excel to record transactions and generate financial reporting results for the owner.

Prompt

Record Financial Data: Use accepted accounting principles to accurately capture business transactions for the month in the Company Accounting Workbook Template using the data provided in the Accounting Data Appendix document.

A Company

Balance Sheet

As of June 30, 20XX

Assets

Liabilities and Owners' Equity

Current Assets:

Current Liabilities:

Total Current Liabilities

-

Long Term Liabilities:

Total Current Assets

-

Total Long Term Liabilities:

-

Total Liabilities:

-

Owner's Equity

Non-Current Assets:

Total Equity

-

Total Non Current/Fixed Assets

-

Total Assets:

-

Total Liabilities & Equity

-

<== Total Assets on the left should equal Liabilities + Owner's Equity on the right.