Project 1
1. Project 1
1.1. Training Room 1
Project 1: The Worksheet
Training Room 1: The Trial Balance
Suggested Time: 80 minutes
Training Room Introduction
In FIN1020 you met Gurpreet Singh, who was the owner and operator of Gurpreet’s Snow Removal. He has now added lawn care to his business and has renamed it Gurpreet’s Lawn Care and Snow Removal.
Gurpreet has been busy completing the daily accounting tasks in his business. He has been journalizing entries from source documents, posting to the general ledger, and preparing a trial balance to ensure that his books are in order. It has now been a year since he first started his business.
Ravinder, Gurpreet’s cousin and an accountant, has stopped in to see how he is doing. View How Gurpreet’s Business Is Going.
Gurpreet needs to complete a worksheet for his business so that he can see if he has made a profit. Let’s see what he needs to do.