Our first competency check comes from chapters 1 through 4. This cases study involves the start-up of Penny’s Pool Service & Supply, Inc. Based on the data provided, your are to prepare journal entries (incl. adjusting journal entries), calculate account balances, and prepare financial statements.
Please read the requirements for each section located on the following textbook pages: Ch. 1 – pg. 38, Ch. 2 – pg. 97, Ch. 3 – pg. 161 and Ch. 4 – pg. 223.
In addition, you are required to prepare examples of the financial statements after the journal entries in CH2-4 have been posted to the beginning balances from CH1
The case study is also at this link:
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