Accounting 10, 20, 30

(a)	Review and summarize the eight steps in the accounting cycle (i.e., analyze originating transaction data, journalize, post, prepare worksheets, prepare financial statements, journalize and post adjusting and closing entries, prepare post-closing trial balance) for a merchandising business.
(b)	Distinguish differences in the accounting cycle for a merchandising business versus a service business.
(c)	Identify what source documents include (e.g., till tape, invoices, memos, cash receipts, cheque stubs) in a merchandising business.
(d)	Justify that no entry should be made unless it has a supporting document as related to the GAAP objectivity principle.
(e)	Analyze each source document and journalize appropriately for a merchandising business.
(f)	Execute a multi-journal system and/or an expanded combination journal (e.g., sales, purchases, cash receipts, cash payment) for a scenario/simulation of a merchandising business.
(g)	Post values to the general ledger and subsidiary ledgers such as accounts receivable and accounts payable.
(h)	Total and prove journal(s) debit columns equal credit columns.
(i)	Examine ways to prove the accuracy of posting (e.g., schedule of accounts payable, schedule of accounts receivable).