SUBJECT: ACCOUNTING

REFERENCE : FABM2 and Cycles of Accounting.

A. Before doing the activities below. REVIEW on how to do transactions from the journal entries to post-closing trial balance. The End The Accounting Cycle B. After the review, you will create your own COMPANY with your own set of transactions (10 transactions) for the whole month of December 2021. Choose a MERCHANDISING COMPANY then think of your company name. Merchandising companies resell products they previously bought from suppliers. Examples: Target, Walmat, grocery stores Supplier Manufacturer Nerchandiser Custom Apple Inc Phones Galore! Nechandise Inventory JLSTAHILAD D. HOW TV DO IT? STEP 1. Journalize the transactions using your general journal INSTRUCTIONS notebook/sheet. STEP 2. Post your transactiens in the general ledger/sheet. STEP 3. Prepare a trial balance. STEP 4. Make a statement of comprehensive income or the income statement. STEP S. Do the statement of changes in owner's equity, STEP 6. Prepare statement of cash flows. STEP 7. Make a statement of financial position or the balance sheet. STEP 8. Reverse temporary accounts - accounts from the income statement. STEP 9. Produce the post-closing trial balance. A. Before doing the activities below. REVIEW on how to do transactions from the journal entries to post-closing trial balance. The End The Accounting Cycle B. After the review, you will create your own COMPANY with your own set of transactions (10 transactions) for the whole month of December 2021. Choose a MERCHANDISING COMPANY then think of your company name. Merchandising companies resell products they previously bought from suppliers. Examples: Target, Walmat, grocery stores Supplier Manufacturer Nerchandiser Custom Apple Inc Phones Galore! Nechandise Inventory JLSTAHILAD D. HOW TV DO IT? STEP 1. Journalize the transactions using your general journal INSTRUCTIONS notebook/sheet. STEP 2. Post your transactiens in the general ledger/sheet. STEP 3. Prepare a trial balance. STEP 4. Make a statement of comprehensive income or the income statement. STEP S. Do the statement of changes in owner's equity, STEP 6. Prepare statement of cash flows. STEP 7. Make a statement of financial position or the balance sheet. STEP 8. Reverse temporary accounts - accounts from the income statement. STEP 9. Produce the post-closing trial balance