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John Trap New Travel Agency
Deliverable Length: See assignment details
Final Project OverviewThroughout this course, you have learned various components of accounting. These components work hand-in-hand to create the accounting cycle – the process of recording, summarizing and reporting transactions. The final project will provide you the opportunity to apply the skills covered in this course through the completion of the accounting cycle. In addition, you will be able to demonstrate your understanding through analysis of the completed information. This project will be completed in two parts in Units 3 and 5.Final Project Data On December 1, 2015 John Trap created a new travel agency, Trap Adventures, Inc. providing exclusive adventure trips. The following transactions occurred during December 2015.(NOTE: There are no beginning balances – this is a new company.)
- One month's insurance coverage has expired.
- The company occupied the office space for the month of December.
- At the end of the month, $600 of office supplies are still available.
- This month's depreciation on the computer equipment is $325.
- Employees earned $525 of unpaid and unrecorded salaries as of month-end.
Final Project RequirementsUsing the spreadsheet found here and information above, complete the following:
- Journal entries to record the transactions that occurred during the month of December.
- Prepare an unadjusted trial balance.