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ACCT105 Financial Accounting- Information In The Transaction

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ACCT105 Financial Accounting

Task

To Do:

Using the transaction list provided, complete the March 2021 income statement and balance sheet. Some transactions may fit more than one category, if so make note of which account you selected and why. 

For the balance sheet, all ending February balances have been populated in March, please add to those amounts as necessary based on the transaction list.

For the income statement, some accounts are already populated and will have no additional activity. Account at zero may have activity, but if no activity appears in the transaction list for a specific account, leave it as 0.

Once all transactions have been added to the income statement or balance sheet, review the financial statements for accounts that may need review or seem incomplete.  There are no specific answers here, just provide any insights that come out of your review.  These can come from trends from the previous months or the information in the transaction list. Lots of flexibility here! 

Provide details of your findings next to each account and/or transactions and be prepared to discuss how you went about this project.

ACCT105 Financial Accounting

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