Now that you have an outline and basic transactions and adjustments created, you

Now that you have an outline and basic transactions and adjustments created, you will add to the project content by preparing the financial statements for your business plan. Understanding and preparing the financial statements is an integral component in the accounting cycle. You will continue your project by completing the following:
If necessary, modify your data table, journal entries, T accounts, and trial balance to incorporate merchandising transactions. If unnecessary, explain why.
Further modify your data table, journal entries, T accounts, and trial balance to incorporate closing entries. C.
Prepare a full set of financial statements (Note: A simple 1-2 entry statement or brief 2-3 sentence explanation for the Stockholder’s Equity Statement and Statement of Cash Flow will be sufficient at this point in your project; these two statements will be addressed in detail later in the course).
a. Income Statement
b. Balance Sheet
c. Stockholder’s Equity Statement
d. Cash Flow Statement
Are you profitable? Are you solvent? Have you created value? You must submit your work as a Microsoft Word document.
Note: Continue to use the Course Project Template for your assignment this week.

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