ACCT 303 Week 7 Course Project; Peter s Auto Supply Corporation (PASC) - All 10 Requirements Completed

ACCT303/ACCT304: Course Project Requirement Description Prepare the Journal Entries in the General Journal Post Journal Entries to the General Ledger Prepare a Trial Balance Prepare the Adjusting Entries Post Adjusting Entries to the General Ledger Prepare an Adjusted Trial Balance Prepare the Financial Statements Prepare the Closing Entries Post Closing Entries to the General Ledger Prepare the Post Closing Trial Balance Course Project Overview The Course Project consists of 10 Requirements for you to complete. The project is due at the end of Week 7. See the Syllabus section ”Due Dates for Assignments & Exams” for due date information. All of the information you need to complete the Course Project is located in this Workbook. • There are eight worksheets in the workbook you will need to complete. • A list of July transactions • A Chart of Accounts reference sheet Before You Begin: • A Grading Rubric to help explain what is expected. Review the Week 1 Lecture prior to starting • Each worksheet has the Check Figures embedded as a comment. work on this project. Print the Chart of Accounts and July Transactions worksheets for your reference. You will need to refer to both throughout the project. Scenario Review the Grading Criteria. You’ve just secured a new client in your accounting practice, Peter's Auto Supply Corporation (PASC), a brand new SAVE your work frequently in this workbook. small business specializing in providing auto supplies to car repair shops. The owner, Peter Peck, is a terrific auto mechanic, but definitely not an accountant. Your job is to help Peter put his affairs in order. Luckily, Peter has only been in operation for a month and things have not gotten too out of hand yet! Peter has to submit his financial statements to his investors and doesn’t know where to begin. It’s your job to go through the complete Accounting cycle to prepare the financial statements for PASC. Requirements ACCT303/ACCT304: Course Project Requirement Requirement Description Worksheet Name 1 Prepare the Journal Entries in the General Journal 1 - Journal Entries 2 Post Journal Entries to the General Ledger 2 - General Ledger 3 Prepare a Trial Balance 3 - Trial Balance 4 Prepare the Adjusting Entries 4 &5 - Adjusting Entries 5 Post Adjusting Entries to the General Ledger 4 &5 -Adjusting Entries ( Use worksheet #2) 6 Prepare an Adjusted Trial Balance 6- Adjusted TB 7 Prepare the Financial Statements 7 - Financial Statements 8 Prepare the Closing Entries 8&9 - Closing Entries ( use worksheet #2) 9 Post Closing Entries to the General Ledger 8&9- General Ledger 10 Prepare the Post Closing Trial Balance 10 - Post Closing Trial Balance Guidelines Use the embedded assistance in the template, guidance in your textbook, and examples in the weekly lectures to complete this project. Should you have any questions contact your professor. The project is due at the end of Week 7 - This includes project requirements 1-10. .During its first month of operation, Peter's Auto Supply Corporation, which specializes