It is time for the staff accountants to begin preparing daily accounting transactions. In preparation of the upcoming audit, the accountants must ensure that these transactions are correct and are free from any misstatement. Because this is a new subsidiary of the company, there are no beginning balances.
As a staff accountant, your job is to do the following:
Click here for the General Journal Ledger template.
Part 2 Tasks (Week 5)
Complete a set of financial statements based on the transactions and general ledger from the Phase 4 IP. The financials to be completed on an Excel spreadsheet are the following:
Click here for the Financial Statement Template.
Based on the financial statements, prepare a memo to the President of LMO Company as to the financial performance of your company. Include the following:
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