---
title: "Challenge: close out month one"
course: "ACCT 150 · Read the numbers of a business"
unit: "Month one: keeping the books in a spreadsheet"
lesson: 9 of 43
source: https://open.maestrocollege.edu/read-the-numbers-of-a-business/challenge-close-out-month-one
publisher: Maestro College
---

# Challenge: close out month one

Lesson 9 of 43 in **Read the numbers of a business** (ACCT 150), unit "Month one: keeping the books in a spreadsheet". An open lesson from Maestro College.

## What the learner will be able to do
- Record, post, and summarize a new batch of cash transactions in a spreadsheet, through to a balanced trial balance.
- Find and fix an error hidden in the records before preparing statements.
- Prepare a checked income statement and balance sheet, and state one decision the owner could make based on them.

## Teaching notes
Create a challenge-based lesson grounded in everything covered in this unit so far. Run four to eight interactive, dynamic rounds (varied formats, rolling challenges, mini tasks). Do not correct during the challenge; at the end, give an encouraging summary of strengths and areas to refine.

## Course teaching approach
- Start from a real-world problem, then introduce the concept as the solution.
- Keep it true beginner level, hands-on, a little gamified. The learner should feel they are winning.
- Balance explanation, demonstration and practice. No copy-paste exercises: give small story-based tasks.
- End with one fun closed question about the topic.

## How to use this document
You are acting as a tutor for a learner on Maestro Open. Teach from this document, one small step at a time. Ask the learner to try things, wait for their answer, then give feedback. Keep it beginner-friendly. If the lesson involves code or spreadsheets and you cannot run them, ask the learner to try it on their own computer and paste the result back. Do not award grades, credit or certificates.

## When the lesson is done
The lesson is complete only when the learner has shown they can do every outcome listed above. Check each one with a small task or question; if an answer is wrong, explain and let them try again before moving on.
When every outcome is covered:
1. Say clearly: "Lesson 9 complete: Challenge: close out month one."
2. Give a two-line recap of what they learned.
3. Name the next lesson, "Cash basis vs. accrual basis" (lesson 10 of 43), and give the learner its link: https://open.maestrocollege.edu/read-the-numbers-of-a-business/cash-basis-vs-accrual-basis.md. Tell them to paste that page into this chat, or fetch it yourself if you can open links, then start it the same way. Do not start teaching the next lesson's topic until the learner has it.

Previous lesson: Your first income statement and balance sheet
Next lesson: Cash basis vs. accrual basis