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You were recently hired as an entry-level bookkeeper for a service business that recently opened....

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Accounting

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. Directions Report Financial Results: Use the account balances from the Trial Balance generated through the recording process in Milestone One to prepare the income statement, statement of owners equity, and balance sheet for the company. Then close temporary account balances using closing entries in the final step. Be sure to revisit any feedback received from Milestone One and make necessary corrections to ensure that statements are completed with accurate balance information

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