This is a simulation of the accounting cycle of a merchandising business. It is part of the summative evaluation. You are the professional accountant for The Green Store owned by S. Redmond. You have the task of preparing the financial statements for The Green Store. The Green Store sells composters and environmentally friendly products. The Green Store uses the Periodic Inventory method.

Instructions From the information you have received, complete the following steps: Step 1 Journalize the transactions for the month of October 2015. Journal descriptions are not required at the end of each transaction. Step 2 Journalize the adjusting entries. Step 3 Post the transaction journal entries to the General Ledger Accounts. (Tip: Work from a hard copy of the Journal.) Do not post the adjusting entries to the Ledger. Step 4 Produce a Trial Balance on the Worksheet for the year ended October 31, 2015. Step 5 Add the adjusting entries and complete the Worksheet. Step 6 Create the Income Statement (including a detailed cost of goods sold section) and the Balance Sheet from the completed Worksheet. Step 7 Journalize the closing entries. USE THE FUNCTION FEATURE OF EXCEL FOR ALL CALCULATIONS AND TO TRANSFER FIGURES FROM ONE CELL TO ANOTHER If your computer monitor is small, use the zoom slide on the very bottom right corner of the spreadsheet.