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Assume that you started your business and you are trying to look into the results...

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Accounting

Assume that you started your business and you are trying to look into the results after the first quarter.
1. Think of atleast 50 transactions of diverse nature, occurred in your business during this quarter. (As it is a start up, there is nothing in the beginning balances)
2. Record all these transactions in Journal.
3. Post the transactions into Ledger (T-Accounts)
4. Prepare the unadjusted Trial Balance.
5. Record adjusting entries for Deferrals, Accruals and Depreciation (atleast 1 transaction for each)
6. Prepare adjusted Trial Balance
7. Prepare Financial Statements
8. Record closing entries at the end of the quarter.

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