Create your own company describing the nature of the company and what it provides (should be providing services like consulting and digital marketing, not retail (no COGs)), 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 usedDuring the adjusting period please make sure you have covered all six categories discussed in classMake sure to show the method used to calculate the depreciation highlighting over the reason on choosing this specific methodComplete the accounting cycle till closing stage and present all financial statements and reports needed .

Journal Entry The purpose of providing the journal entry to enter the required transaction into…

Answered: Create your own company describing the…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter3: Processing Accounting Information

Section: Chapter Questions

Problem 3.1KTQ: Read each definition below and write the number of the definition in the blank beside the...

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Create your own company describing the nature of the company and what it provides (should be providing services like consulting and digital marketing, not retail (no COGs)), 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
Complete the accounting cycle till closing stage and present all financial statements and reports needed .

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