Description
Students will learn how to enter transactions using a variety of journals involving customers and vendors in a merchandising business. Students will be exposed to payroll using payroll registers, recording payroll and tax deposits, and completing quarterly reports. They will also learn how to create departmentalized income statements and detailed balance sheets.
Objectives:
• Enter transactions into sales, purchases, cash payments, cash receipts, and general journals
• Create and use accounts receivable/payable subsidiary ledgers
• Demonstrate mastery of payroll records and procedures
• Understand the process of maintaining accounting records for merchandising businesses
• Complete an accounting cycle from start to finish in a merchandising business