This course introduce students how a sole propritorship keeps track of all detailed business activities. These detailed activities include:
- tracking where the money is coming from when starting up a sole proprietorship type business
- tracking customers who purchases your goods and services
- racking your vendors, who sends you bills for the rent, utilities, etc.
- creating reports to learn how the business is doing
In this class, you will learn the basic accounting theory for a single owner service business. The focus is the accounting equation and how business activities can change that equation. You will also learn to analyze and journalize business transactions, post these transactions to the ledgers, manage cash, prepare financial statements and make adjusting and closing entries.