Assignment Five
This assignment relates to:
Adjusting Entries --
If you do not have transactions and accounts in your assignments that require adjusting, you will need to add some. You should have at least one prepaid insurance account, some type of equipment which you can depreciate (use the Depreciation Schedule in my downloads section) and at least one employee that you pay.

You will also need to declare your fiscal accounting period. Your overall period will be a fiscal year (you decide when it starts) and your cycle period will be a fiscal month.

Based on the information covered in the lecture and the data used in your previous assignments, use a worksheet (provided in my downloads section) and enter all adjustments into your books.
Financial Statements --
Once you have completed your worksheet, create financial statements to support your adjustments. Do not forget to update your Journal and Ledger with the adjustments.

All forms are available in the downloads section of my website
Email --
Attach all required documents to an email (ex: Worksheet, Depreciation Schedule, Income Statement, Statement of Owner's Equity, Balance Sheet, General Journal and Ledger).

Send these to me making sure to add "Lab 5" in the subject line and include your name in the body of the email.
Part of Final Project

This time around the connection to the final is less direct. You will have adjusting entries in your Final Project / Final Exam, but there will be quite a bit more to adjust than what we have here. However, what we have here will be a part of your Final Project / Final Exam adjustments.


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