ACCOUNTING 1 MiniPractice Set 2 Assignment Sheet n

ACCOUNTING 1 Mini-Practice Set 2 Assignment Sheet n n Welcome to your Semester One Practice Set! This is an opportunity to show me all that you learned in Accounting I. You will be doing the general bookkeeping and accounting work for a business called Fast Track Tutoring Service. We will be completing this work as a PRE-TEST to assess your readiness for the semester two work. Therefore, we will be completing the problem manually AND in Peachtree. To complete the manual problems, turn to page 282 -283 in your textbook to find the instructions, chart of accounts and journal entries. The working papers are in the pages that follow. Using the finished product, complete the Audit-Test on pages 265 -266 in your working papers. To complete the Peachtree version: n n n n Open the ELC, click on Peachtree, login and go to the Problems and Tutorials Tab. Once there, load the Mini-Practice Set 2 (MP-2) problem. The Peachtree Instructions can be found on pages 253 -254 in your working papers. Record all the journal entries! After double-checking your work you can print out the reports requested in the instructions. Be sure that you are holding the financial statements BEFORE you do the period-ending closing. After closing, be sure to print out another trial balance. Submit all of your work for a grade! Manual Problem – 135 points ______ ______ ______ n Manual Journal (20 points) Manual Ledger (20 points) Bank Statement Reconciliation (10 points) Worksheet (10 points) Income Statement (10 points) Statement of Changes in Owner’s Equity (10 points) Balance Sheet (10 points) Closing Entries (10 points) Post-Closing Trial Balance (10 points) Audit Test – (25 points) Peachtree Problem – 40 points ______ General Journal (20 points) ______ Financial Statement Printouts (15 points) ______ Post-Closing Trial Balance (5 points)