Day 156-180

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

  • Journalize transactions completed for a month for a business
  • Post from a general journal to a general ledger
  • Reconcile a bank statement
  • Prove cash
  • Complete a work sheet 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

A Business Simulation

  • Unique Global Imports is a merchandising business that sells a variety of international goods, including fabrics, clothing, furniture, and decorative accessories.  Unique Global Imports is organized as a corporation. Anthony Dawson and Julia Medina are major stockholders and acting managers.  The business sells merchandise for cash and also subscribes to a national credit card service.  In addition, some sales are made on account to certain customers.  Terms are 2/10, n/30 for sales on account to other businesses and 30 days for consumers.  In this simulation, you will do the accounting work for Unique Global Imports.


  1. Utilize this instructional booklet to help guide you through and complete this simulation.