You are a cer!fied public accountant (CPA) who is working with a small bakery to prepare their financial statements for three months of the
current fiscal year

Overview
In Milestone One, you completed the first part of your course project to demonstrate your ability to accurately record financial data. In
Milestone Two, you will use your journal entries from Milestone One to con!nue working through the next stages of the accoun!ng cycle in
prepara!on for crea!ng financial statements in Module Seven.
Scenario
You are a cer!fied public accountant (CPA) who is working with a small bakery to prepare their financial statements for three months of the
current fiscal year. Because the company is a startup and so small, the accoun!ng is done manually in Microso” Excel. You have been given
the accounts and informa!on you need to prepare their financial statements, but you will need to use the accoun!ng cycle to report accurate
informa!on to the finance department.
Prompt
Accrual Basis: In your company accoun!ng workbook, apply the accrual basis of accoun!ng and prepare adjus!ng entries to ensure accurate
accoun!ng for expenses that lack transac!ons in the current period. (You may refer to the Company Accoun!ng Workbook Template
Spreadsheet if necessary, but keep in mind that your work for this milestone should be added to the work you completed in your workbook
for the previous milestone.)
Specifically, you must address the following rubric criteria:
Unadjusted Trial Balance: Prepare the unadjusted trial balance por!on of the “Trial Balance” tab of the company accoun!ng workbook,
ensuring that the total debits and credits match.
Adjus!ng Entries: Prepare the “Adjus!ng Entries” tab of the company accoun!ng workbook. Ensure that the entries are correctly
transferred to the adjus!ng entries por!on of the “Trial Balance” tab.
Adjusted Trial Balance: Prepare the adjusted trial balance on the “Trial Balance” tab, ensuring that the debit and credit totals match

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