Create your own company describing the nature of the company and what it provides (should be providing services and assume it is a sole proprietorship).

Show in details the Accounting cycle (journalizing in general journal, posting in general ledger and preparing financial statements) taking into consideration the following:

  • Transaction to start with not less than 25 transactions (including at least one unearned and one prepaid transactions)
  • Use the coding for the accounts used
  • During the adjusting period please make sure you have covered all six categories discussed in class
  • Make sure to show the method used to calculate the depreciation highlighting over the reason on choosing this specific method
  • Assume you are using the allowance method in estimating the uncollectible accounts for Accounts receivables.

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YGMO6I The First Answerer