This Project will be done at the Perdisco website. Refer to your course schedule for the project due date.
The project allows for two attempts. You must complete the first attempt through all modules before you can do the next one. Some students take their time with the first attempt; some want to know what is expected and work quickly through the first attempt and go slowly through the second attempt. There is no one way to approach completion. However, save enough time to complete a second attempt if needed.
The company is a retail corporation selling merchandise with a FIFO perpetual system of inventory and uses special journals and subsidiary ledgers.
NOTE: A corporation’s accounting cycle is very similar to a sole proprietor’s except a corporation has common stock, retained earnings and a dividends whereas a sole proprietor has owner’s capital and withdrawals.
Corporate Accounting Cycle Video. Click on button.
Instructions from Perdisco with hints from me. Click on link.
Official Perdisco Student Companion Guide. Click on link.
If you have forgotten how to do a bank reconciliation, here is a video prepared by me. Click on button.