The Accounting Cycle




# Score
Preparing Journal Entries 0 Did not prepare Journal Entries 3 Grammar error, math error, used wrong account number, or incorrectly debited and credited accounts 5 No grammar errors, no math errors, used correct account numbers, and debited and credited accounts appropriately 5
General Ledger 0 Did not record the entries in the general ledger accounts 3 Recorded the entries in the wrong general ledger accounts, or descriptions are hard to understand 5 Recorded the entries in the correct general ledger accounts, and provided detailed descriptions 5
Financial Statements 0 Did not complete any of the financial statements 3 Completed 1 or 2 financial statements 5 Completed all three financial statements 5
Post- Closing Trial Balance 0 Assets does not equal Liabilities plus Stockholders' Equity 3 Assets = Liabilities + Stockholders Equity Even though the equation is balanced out, there are incorrect numbers 5 Assets = Liabilities + Stockholders' Equity Correct numbers 5

Total Score: 20

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