This must be complete by March 28th!
The problem is as follows:.
Included is a sample format to be used in setting up the General Journal and General Ledger.
The problem must be done in Excel. Please show all computations clearly. Submit only one (1) Excel spreadsheet (use multiple tabs). The Subject Title in your email should be: ACC801 - 81
Make sure you use proper formatting, formulas, dollar signs, centering, cell merging, comas, etc. The required financial statements must be in good form.
1. Set up a General Ledger ("T" accounts) and enter the August 31 balances from the Trial Balance on the proper side (DR or CR)
2. Record the journal entries for the September transactions in the General Journal.
3. Post the September transactions entries into the General Ledger.
4. Prepare an UNADJUSTED trial balance at September 30.
5. Prepare the necessary adjusting entries in the General Journal and post them to the
General Ledger. See the additional data to determine the adjustments.
6. From the updated ledger, prepare an ADJUSTED trial balance at September 30.
7. Prepare the Corporation's four financial statements (income statement, statement of retained earnings, balance sheet and statement of cash flows) in the correct order for the month of September.
NOTE: ALL ENTRIES SHOULD BE IN THE GENERAL JOURNAL.
(EXPLANATIONS ARE NOT REQUIRED)
Place the completed assignment in the following order:
c. Unadjusted Trial Balance
d. Adjusted Trial Balance
e. Financial Statements
f. Cash flow worksheet
Reminder: Use multiple tabs in the Excel Worksheet for each of the above items if desired.