Overview: In this milestone, you will move through the first four steps of Final Project I by creating the monthly journal entries and general ledger accounts in your accounting workbook. The monthly journal entries are how businesses input financial activities into their accounting systems. The values from these entries are posted to the general ledger.
Prompt: Your dog, Peyton, has severe allergies and cannot have the usual store-bought dog treats. You have been making homemade treats for him that are allnatural and hypoallergenic. Over the past year, you have been making and selling these treats out of your home, and you have been quite successful. You now have an opportunity to open your own dog treat bakery. You have decided on a corporate form of business and have named your company â€œPeyton Approved.â€
To complete Milestone One, use accepted accounting principles to follow and record your business transactions for a three-month period. You will find the provided data for your workbook in the appendix at the end of this document. The data have been separated from the prompt so that you can more easily view the full scope of the assignment. Links have been provided to help you locate the information you need as you move through each step.
Rubic and Excel workbook is attached