Completing the Accounting Cycle.
June 8, 2020 Comments Off on Completing the Accounting Cycle. Uncategorized Assignment-help

Completing the Accounting CycleMary Smith is the controller for ABC Printing Service. Mary has been putting in a lot of overtime; therefore, she has been allowed hire an assistant. Mary’s assistant is a bright, high school graduate, but he has never taken an accounting class. Mary is trying to decide which accounting activities could be delegated to her assistant. Mary is willing to give the assistant a few simple instructions on how to complete each task, but she doesn’t have time to teach the assistant to be an accountant.For each task listed, state whether Mary should continue to do the work or delegate the task to her assistant. Please explain each answer.1.List the account balances from the general ledger in the Trial Balance columns of the end-of-period spreadsheet.2 Add the Debit and Credit columns of the trial balance.3 Make the adjusting entries on the spreadsheet.4 Complete the spreadsheet.5. Type the formal financial statements using the data from the Income Statement and Balance Sheet columns of the spreadsheet.6.Journalize and post the adjusting entries