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This course provides students with an understanding of the accounting cycle for service and merchandising firms. In addition, students reconcile bank accounts and maintain a manual payroll system. This course is intended for students in most career business curricula. This course is generally not transferable. Upon completion of this course, students should be able to: Record representative journal entries, post them to the general ledger, foot and balance the accounts, prepare a trial balance and complete a work sheet, financial statements and the remainder of the accounting cycle for a single proprietorship. Record representative business transactions for a merchandising business utilizing the appropriate special journals. Prepare all documents necessary for the maintenance of a checking account and prepare a bank reconciliation. Maintain and reconcile accounts receivable and accounts payable ledgers with appropriate control accounts. Compute and record adjustments for plant assets, prepaid expenses, merchandise inventory and accrued expenses. Maintain a payroll system.