The student will become familiar with the nature of accounting and recording process for business transactions and will acquire an understanding of the complete accounting cycle for a service and merchandising business. The student will develop the ability to record business transactions in special journals, to maintain general and subsidiary ledgers, to prepare simple entries to adjust recorded data, and to prepare financial statements commencing with the worksheet for a service business and a merchandising business. The student will study the accounting operations associated with each. The student will become familiar with accounting for payroll, develop the ability to calculate employee earnings and deductions, complete a payroll register and record accounting entries for employee earnings and deductions and for payment of the payroll.