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ACCT 550 Course Project Balance Sheet and Single-Step Income Statement

ACCT 550 Course Project Balance Sheet and Single-Step Income Statement

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ACCT 550 Course Project Balance Sheet and Single-Step Income Statement

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Course Project Title: Balance Sheet and Single-Step Income Statement

Objective

To prepare a comprehensive balance sheet and Single-Step Income Statement presented in good form and derived from a list of various accounts. The amounts relative to each account will be given and the student will learn to determine whether an account is a balance sheet account or a temporary account that belongs to the income statement. The accounts will be comprised of all the various subgroupings in the balance sheet (Current Assets, Investment, Fixed Assets, Intangibles, and Other Assets, as well as Current Liabilities, Long-term Liabilities, and the Equity sections).

Guidelines

Obtain the list of accounts under the title of Course Project in Doc Sharing

Determine which accounts belong to the Balance Sheet and which accounts belong to the Income Statement

Determine to which subgroup each account belongs

Arrange the accounts in proper order and functionality

Prepare a Comprehensive Balance Sheet in good form

Prepare a Single-step Income Statement in good form

Put the Course Project in the Dropbox for the project in Week 8

 

Grading Rubrics

Category

Points

%

Description

Making proper selection of accounts relative to the balance sheet or the income statement

 30

 20

From the provided listing of accounts determine which accounts are Balance Sheet accounts and which accounts are Income Statement accounts.

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