Students are required to prepare Excel Spreadsheets with tabs for Journal Entrie

Question

Students are required to prepare Excel Spreadsheets with tabs for Journal Entries, T Accounts, Trial Balances, and Financial Statements.

Anyhelp with this would be amazing

Thanks

Requirements: 1) Using t Balanc Shoot information, ener h boginnin balances in the T-Accounts. 2) On the following sheet, use the Transaction Information to journalize entries, 1-10. 3) Post each entry into the T-Accounts. When finished journalizing, calculate the account balance for each T-Account. 4) Create an Unadjusted Trial Balance. 5) Journalize adjusting journal entries 1-4 6) Post Adjusting Journal entries to T-accounts 7) Prepare Adjusted Trial Balance 8) Prepare: a. Income Statement b. Statement of Owner's Equity c. Balance Sheet 9) Write the four closing entries, post them to the T-Accounts and determine the ending balance for each account. 10) Create the Post Closing Trial Balance from the T-accounts.

Explanation / Answer

1. & 3. T-accounts:

2. Journal entries

4.

Per Chegg guidelines, 4 sub-parts have been answered.

Cash Accounts Receivable Beg. Bal. 7000 3600 2 Beg. Bal. 3000 3000 4 4 3000 2000 3 9 5600 7 1500 290 5 750 6 750 10 End. Bal. 4110 End. Bal. 5600 Supplies Prepaid Insurance Beg. Bal. 100 2 3600 1 1000 End. Bal. 1100 End. Bal. 3600 Accounts Payable Wages Payable Beg. Bal. 290 Beg. Bal. 50 5 290 1000 1 6 50 450 8 End. Bal. 1450 End. Bal. 0 Unearned Service Revenue Speedy, Capital 1500 7 Beg. Bal. 9760 End. Bal. 1500 End. Bal. 9760 Speedy, Drawings Service Revenue 10 750 5600 9 End. Bal. 750 End. Bal. 5600 Rent Expense Wages Expense 3 2000 6 700 End. Bal. 2000 End. Bal. 700 Utility Expense 8 450 End. Bal. 450

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