Day 63-66

When you are finished with this reinforcement activity, you will be able to:

  • Complete a worksheet for the end of a fiscal period
  • Prepare an income statement
  • Prepare a balance sheet
  • Journalize and post adjusting entries
  • Journalize and post-closing entries
  • Prepare a post-closing trial balance

An Accounting Cycle for a Proprietorship: End-of-Fiscal-Period Work

  • Reinforcement activities strengthen the learning of accounting concepts and procedures.  Reinforcement Activity 1 is a single problem divided into two parts.  Part A includes learning from Chapters 1 through 5.  Part B includes learning from Chapters 6 through 8.  An accounting cycle is completed in Parts A and B for a single business.  Extreme Adventures.

Reinforcement Activity Assignment

  1. Create a new folder titled Reinforcement 1B inside your Part 1 folder.
  2. Make a copy of this Google Sheet, rename it Reinforcement 1B-(Your Initials), and move it into your Reinforcement 1B folder.  
  3. Complete the working papers according to the directions on page 228.

Reinforcement Activity 1-Part B Audit

  1. Utilize your Reinforcement 1B file to answer the questions in this Audit. (password required)