Overview: In your final project, you will assume the role of an accountant and complete the year-end adjustment process for your company using a provided workbook. This workbook is the first deliverable (Part I) of your final project. In Part II, you will analyze the provided financials of the same company and create a report documenting your findings.
You will complete certain portions of the final project workbook for your first milestone as described in the prompt below.
Prompt: Specifically, the following critical elements must be addressed:
I. Demonstrate the year-end adjustment process.
A. Prepare the adjusting journal entries in the Adjusting Entries tab in the provided workbook.
B. Transfer the values from the Adjusting Entries tab to the proper cells of the Adjusting Entries columns in the Worksheet tab.
C. Create the adjusted trial balance by completing the Adjusted Trial Balance columns using the Worksheets tab.
D. Close temporary accounts by completing the Closing Entries tab.
II. Prepare an income statement for your company by completing the Income Statement tab in the provided workbook.
Attached is the rubric for the worksheet.