Pickle Window Service
Pickle Window Services is a sole proprietorship form of business that is ideally suited for the first-year accounting students.
Students are required to entry daily, adjusting, and closing entries for the first month of operations. The first month of operations is divided into four one-week sessions or modules. At the end of each module, students are required to print a trial balance and check their account balances against check figures that are provided in the manual for the module. The check figures include the correct balances of several of the accounts that have had significant activity during the period. At the mid-point of the project, students are required to complete a Mid-Point Evaluation.
After completing the bank reconciliation and entering the required bank-reconciliation entries at the end of the last module, students are required to calculate and enter the end-of-period adjusting entries. After printing the financial statements, receivable and payable schedules, and selected general ledger accounts as the final step in the practice set, students close the temporary accounts (an automatic process) and print a post-closing trial balance. Using their printed financial statements and other documents, students are required to complete the Final Evaluation.
The Mid-Project and Final Evaluation questions are graded electronically and can be submitted in printed form or e-mailed to the instructor. The instructor may require key documents, such as the income statement, to be attached to the graded questions.
Completion time is estimated at 3 to 4 hours.
Additional Feature: A Personal Accounting Teacher program is included with the Pickle Window Services program providing students the opportunity to review in True-False and Multiple-Choice format a series of accounting topics, including special journals, inventory valuation, uncollectible accounts expense, depreciation, and promissory notes.