Rebel Ridge Snowmobile, Incorporated
Rebel Ridge Snowmobile is a shorter version of PKL Software’s Level I practice sets. The transactions include sales on credit, for cash, with bank credit cards and company credit cards; and purchases for credit, for cash, with FOB Factory freight and FOB destination freight; operating expense; and accruals and deferrals. The adjusting transactions include the basic adjustments for accruals, deferrals, and depreciation.
With a perpetual inventory system, the accounting system automatically records the appropriate entry to the Cost of Goods Sold and Merchandise Inventory with every recorded sale or sales return.
Closing entries are also automatically recorded with the click of a button.
After completing the daily transactions, the adjusting transactions, and printing the financial statements, the student is required to complete a 30-question examination that requires students to analyze their work and the financial statements.
The well-prepared student can complete this practice set in 3 to 4 hours.