accounting homework
accounting homework project
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d
>2
>Introduction
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| Building |
Blocks of
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| Account |
ing .. A Financial Perspective
| Yun |
, when you are ready to have your work graded you will upload this file
YM
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| 8 |
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| 0 |
9 |
6
.xls or
YM8
Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper.
Get My Paper
| 09 |
6
.xlsx,
F9
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| 1 |
1
| 18 |
08 |
09
to the same screen that the project was downloaded from:
www.cybertext.com, The Book List, Building Blocks of Accounting .. A Financial Perspective, Enter password, Upload Your Excel
|
| File |
.
Keep two copies of your spreadsheet in two separate places in case one does not work.
You may find it easier to work on this project if you print a hard copy of all the pages.
NOTE:
If there are any questions about the project e-mail markfriedman@miami.edu or call 3
| 05 |
.
28 |
| 4 |
.6
29 |
6.
Grade will be based upon answers entered into the shaded boxes.
|
| FAQ |
|
| Elf Village Productions |
|
| 50 Sheet Legal Pad |
Building Blocks of Accounting .. A Financial Perspective
FAQ
Page 1 |
FAQ
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| 01 |
My file used to upload, why is it not uploading? |
|
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| Answer: |
Sometimes we unknowingly add items to a workbook that inhibits the upload process. The conversion to a Excel Binary |
Workbook (*.xlsb) version generally fixes the problem. If the problem continues simple send your BINARY file |
as an attachment with your username and password…friedman@cybertext.com |
Windows Operating System |
|
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| Select |
File
Select
|
| Save |
As
Select
| Save As |
Type:
Select
| Excel Binary Workbook (*.xlsb) |
Select Save
Select
Continue or Yes if prompted or if it indicates that there is limited memory. |
| Upload the binary file at cybertext.com |
Apple Operating System |
Select File
Select Save As
Select
Format: |
Select Excel Binary Workbook (*.xlsb)
Select Save
Upload the binary file at cybertext.com
Elf Village Productions 50 Sheet Legal Pad
Building Blocks of Accounting .. A Financial Perspective
FAQ
Page 2 |
FAQ
|
|
| 02 |
When I try to enter information in the
General Journal |
why does an error appears indicating that the cell protected?
Answer:
The computer program is designed to save you time. Instead of requiring you to enter the description four |
times the program automatically copies the description when you enter a new account number. This process |
requires that the data entry is limited to those cells which contain unique information. The cells that you can |
enter data into are the yellow filled cells. |
FAQ
|
|
|
| 03 |
In the feedback section, what does it mean when I have points under reverse? |
Answer:
If you pay a telephone expense of $
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| 00 |
.00
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| Telephone Expense |
| 10 |
0
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| Cash |
100
If you debit cash and credit telephone expense you have reversed the whole entry. |
Cash 100
Telephone Expense 100
If you debit cash and credit anything else you have reversed part of the entry. |
Cash 100
|
|
| Rent Expense |
100
Elf Village Productions 50 Sheet Legal Pad
Building Blocks of Accounting .. A Financial Perspective
FAQ
Page 3 |
FAQ
| 04 |
How does my instructor get my grade? |
Answer:
Every time you upload your grade is recorded in a table. Your instructor can look at the table whenever they |
want to, although only the last grade counts. Keep a hard copy of your last upload for documentation. |
FAQ 05 |
I have entered all the transactions and have completed the worksheet however I get following |
message on the financial statements: “You must finish the worksheet before you can complete the ….” |
Answer:
The worksheet demonstrates that the accounting system is working. If all of your journal entries are |
in balance then the Unadjusted Trial
|
| Balance |
and the Adjusting Entry columns will balance. The
| Adjusted Trial Balance |
columns net the
Unadjusted Trial Balance |
and the Adjusting Entry columns.
There are four steps to completing the worksheet: |
1. |
Copy the account balances from the Adjusted Trial Balance into the either the
| Income Statement |
or the
| Balance Sheet |
columns, (debits remain debits and credits remain credits).
|
| 2. |
Calculate the
Net Income |
or Net Loss by finding the difference between the revenues and expenses.
| 3. Calculate the Net Income or Net Loss by finding the difference between the total of the debit balances and |
| the total of the credit balances of the accounts in the Balance Sheet columns of the worksheet. |
| 4. Compare the two Net Incomes. If they are the same the financial statements will be displayed, otherwise |
| there is an error in the completion of the worksheet. |
MF
| 12 |
| 34 |
.
xlsx
Excel Binary Workbook (.xlsb)
Welcome
Building Blocks of Accounting — A Financial Perspective |
The instructions start on row
| 22 |
of this page.
FIRST |
LAST |
SS |
File
Yun
Ma |
8096 YM8096
For example, |
01
In the date field enter the date of the transaction. If you do not enter a date value an error message will appear. |
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| Transaction |
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| Date |
Account
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| Name |
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| Description |
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| Debit |
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| Credit |
0
01
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| Jun 01 |
0
00
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| Dec
| 31 |
0 0
00
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| Dec 31 |
0 0
00 Dec 31 0 0
In the account field enter the account number that corresponds to the account in the chart of accounts. |
You can also use the pull down list to find the appropriate account number. If you use a number that |
is not on the chart of accounts an error message will appear. |
Transaction Date Account Name Description Debit Credit
0
01 Jun 01
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| 11 |
10
Cash
00 Dec 31 0 0
00 Dec 31 0 0
00 Dec 31 0
The name of the account will automatically appear in the name column. If it is the wrong |
account renter the correct account number. |
Enter the description in the description field. |
Transaction Date Account Name Description Debit Credit
0
01 Jun 01
| 1110 |
Cash
|
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|
| Hudson’s investment |
00 Dec 31 0 0
Enter the amount in the debit field. |
Transaction Date Account Name Description Debit Credit
| Transaction # 1 Not in Balance by $
| 40 |
,000.
01 Jun 01 1110 Cash Hudson’s investment
|
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| 40,00
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| 0.00 |
00 Dec 31 0 0
00 Dec 31 0 0
Enter the second account number. |
Transaction Date Account Name Description Debit Credit
Transaction # 1 Not in Balance by $40,000.
01 Jun 01 1110 Cash Hudson’s investment 40,000.00
00 Dec 31
|
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| 3100 |
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| Capital Stock |
Hudson’s investment
00 Dec 31 0 0
Enter the amount in the credit field. |
Transaction Date Account Name Description Debit Credit
0
01 Jun 01 1110 Cash Hudson’s investment 40,000.00
00 Dec 31 3100 Capital Stock Hudson’s investment 40,000.00
00 Dec 31
00 Dec 31
| 1. Copy the account balances from the Adjusted Trial Balance into the either the Income Statement or the |
| Balance Sheet columns, (debits remain debits and credits remain credits). |
2. Calculate the Net Income or Net Loss by finding the difference between the revenues and expenses.
3. Calculate the Net Income or Net Loss by finding the difference between the total of the debit balances and
the total of the credit balances of the accounts in the Balance Sheet columns of the worksheet.
4. Compare the two Net Incomes. If they are the same the financial statements will be displayed, otherwise
there is an error in the completion of the worksheet.
Note: |
Save and make backup copies regularly. |
Welcome to the world’s first ePractice case, an individualized, internet generated and graded case study that focuses on the analytically portion of the accounting cycle while automating the repetitive posting cycle.
NOTE: If the program is not working e-mail markfriedman@miami.edu,
30 |
5.284.6296.
Step I – The
Chart of Accounts
The chart of accounts includes all of the accounts that you can use to solve your case. You may want to print the chart of accounts and use it as an easy reference guide.
Step II – Journalizing the
Transactions
.
Using your unique transactions record the corresponding general journal entry, rounding to two decimal places.
June 1: Hudson Bloom made a $40,000 cash investment in his business,
| Byte of Accounting |
.
Press Here To Create The General
Ledger
Step III –
Worksheet |
Although not graded, you need to complete the Worksheet. If each of your journal entries are in balance then your Unadjusted Trial Balance, the Adjusting Entry and Adjusted Trial Balance columns will be in balance.
Step IV – Prepare the Financial Statements.
After you have entered all of the transactions and prepared the Worksheet, you are to prepare the Income Statement, Shareholder’s Equity Statement and Balance Sheet using the forms provided.
Step VI – Upload the File.
Whenever you want to have cybertext.com grade your work submit it to them on the bottom of the screen that you downloaded the file.
Grading:
You will be graded on the Journal Entries and the three financial statement. The case will be computer graded, therefore make sure all numbers are in the appropriate cells. The computer will evaluate your transactions when grading your financial statements.
Step V – Prepare the
Closing Entries |
.
Based upon the information from your Worksheet or from your Financial Statements, prepare the closing entries.
Chart of Accounts
| Number |
Name
Normal Balance |
Error # |
Message |
1110 Cash Debit 1
Debit And Credit On Same Line |
11
| 20 |
|
| Accounts Receivable |
Debit 2
Debit Before Credit |
11
|
| 21 |
|
| Allowance for Doubtful Accounts |
Credit 4
Need An
| Account Number |
1
| 13 |
0
|
| Prepaid Insurance |
Debit 8
Round To Two Decimal Places |
1
|
| 14 |
0
|
| Prepaid Rent |
Debit
| 16 |
Need a Description |
1
|
| 15 |
0
|
| Office Supplies |
Debit
| 32 |
Need a Date |
|
|
| 1211 |
|
|
| Office Equip. |
Debit
64 |
|
| 1212 |
|
| Accum. Depr.-Office Equip. |
Credit
128 |
|
|
|
| 1311 |
|
|
|
| Computer Equip. |
Debit
| 25 |
6
|
| 1312 |
|
| Accum. Depr.-Computer Equip. |
Credit
512 |
1
| 41 |
1
Building Debit
10
| 24 |
|
| 1412 |
|
| Accum. Depr.-Building |
Credit
|
| 1510 |
|
| Land |
Debit
|
| 2101 |
|
| Accounts Payable |
Credit
|
| 2102 |
|
| Advanced Payment |
s
Credit
|
| 2103 |
|
| Interest Payable |
Credit
|
|
| 2105 |
|
| Salaries Payable |
Credit
21
| 06 |
|
| Income Taxes Payable |
Credit
|
| 2201 |
|
| Mortgage Payable |
Credit
|
| 2202 |
|
| Notes Payable |
Credit
3100 Capital Stock Credit
|
|
| 3110 |
|
|
|
| Paid-in Capital |
in Excess of Par Value
Credit
| 3200 |
|
| Retained Earnings |
Credit
| 33 |
00
|
| Dividends |
Debit
3400 |
Income Summary |
Credit
|
| 4100 |
| Computer & Consulting Revenue |
Credit
|
| 5010 |
Rent Expense Debit
|
| 5020 |
|
| Salary Expense |
Debit
|
| 5030 |
|
| Advertising Expense |
Debit
|
| 5040 |
|
| Repairs & Maint. Expense |
Debit
|
| 5050 |
|
| Oil & Gas Expense |
Debit
|
| 5080 |
|
| Supplies Expense |
Debit
|
| 5090 |
|
| Interest Expense |
Debit
|
| 5100 |
|
| Insurance Expense |
Debit
|
|
| 5110 |
|
| Depreciation Expense |
Debit
|
| 5120 |
|
| Bad Debt Expense |
Debit
| 5130 |
|
| Bank Expense |
Debit
| 5140 |
Telephone Expense Debit
| 5150 |
Income Tax Expense |
Debit
Transactions
Byte of Accounting
Yun Ma 8
| 26 |
2
Description of transaction |
01. |
June 1: Lauryn made an investment in Byte of Accounting, Inc. by purchasing 5,550 shares of its common stock for $166,500 cash. The par value of the common stock was $28 per share. |
02. |
June 1: Yun Ma made an investment in Byte of Accounting, Inc., by purchasing 2,560 shares of its common stock paying $32,400 in cash and by contributing computer equipment with a fair market value of $
| 44 |
,400. The par value of the common stock was $28 per share.
03. |
June 1:
|
|
|
| Courtney |
made an investment in Byte of Accounting, Inc., by purchasing
46 |
6 shares of its common stock by contributing computer equipment with a fair market value of $13,200 and office equipment with a fair value of $780. The par value of the common stock was $28 per share.
04. |
June 2: Check # 5002 was used to make a down payment of $30,000.00 on additional computer equipment that was purchased from Royce Computers, invoice number 7
| 65 |
| 42 |
.
The full price of the computer was $150,000.00. A five-year note was executed by Byte for the balance.
05.
June 4: Additional office equipment costing $700.00 was purchased on credit from Discount Computer Corporation. The invoice number was 984
| 32. |
06. |
June 8: Unsatisfactory office equipment costing $1
| 40. |
00 from invoice number 98
43 |
2 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte.
| 07 |
.
June 8: Purchased office supplies for $1,600.00 from Staples on account. The invoice number was 61298. Included in the purchase was 10 units of Super RoutePro at a cost of $
| 15. |
00 each.
08. |
June 10: Check # 5003 was used to make a $
| 23 |
,000.00 payment reducing the principal owed on the June 2 purchase of computer equipment from Royce Computers.
09. |
June 14: Check # 5004 was used to purchase a one-year insurance policy covering its computer equipment for $5,304.00 from Seth’s Insurance. The effective date of the policy was June 16 and the invoice number was 2
| 38 |
7.
10. |
June 16: Checks in the amount of $8,510.00 were received for services performed for cash customers. |
11. |
June 16: Byte purchased a building and the land it is on for $107,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $
|
| 17 |
,000.00. The balance of the cost is to be allocated to the building. Check # 5005 was used to make the down payment of $10,700.00. A thirty year mortgage with an inital payement due on August 1st, was established for the balance.
12. |
June 17: Check # 5006 for$9,600.00 was paid for rent of the office space for June, July, August and September. |
13. |
June 17: Received invoice number 26
| 35 |
4 in the amount of $300.00 from the local newspaper for advertising.
14. |
June 21: Accounts payable in the amount of $560.00 were paid with Check # 5007. |
15.
June 21: Check # 5008 was used to purchase a fax machine for the office from Office Machines Express for $800.00. The invoice number was 975-3
| 28. |
16. |
June 21: Billed various miscellaneous local customers $4,400.00 for consulting services performed. |
17. |
June 22: Check # 5009 was used to pay salaries of $960.00 to equipment operators for the week ending June
| 18. |
Ignore payroll taxes.
18.
June 22: Received a bill for $1,140.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. |
|
| 19 |
.
June 22: Check # 5010 was used to pay the advertising bill that was received on June 17. |
20. |
June 23: Purchased office supplies for $800.00 from Staples on account. The invoice number was 65498. Included in the purchase was 10 units of Super RoutePro at a cost of $18.00 each. |
21. |
June 23: Cash in the amount of $3,5
| 25. |
00 was received on billings.
22. |
June 28: Billed $5,910.00 to miscellaneous customers for services performed to June 25. |
23. |
June 29: Paid the bill received on June 22, from Computer Parts and Repairs Co with Check # 5011. |
24. |
June 29: Cash in the amount of $5,600.00 was received for billings. |
25.
June 29: Check # 5012 was used to pay salaries of $960.00 to equipment operators for the week ending June 25. Ignore payroll taxes. |
26. |
June 30: Received a bill for the amount of $990.00 from O & G Oil and Gas Co. The invoice number was 78
| 45 |
| 37 |
.
| 27 |
.
June 30: Check # 5013 was used to pay for a cash dividend of $0.21 per share to Lauryn, a shareholder of Byte. |
28.
June 30: Check # 5014 was used to pay for a cash dividend of $0.21 per share to Yun Ma a shareholder of Byte. |
29. |
June 30: Check # 5015 was used to pay for a cash dividend of $0.21 per share to Courtney, a shareholder of Byte. |
| Adjusting Entries |
– Round to two decimal places.
30. |
The rent payment made on June 17 was for June, July, August and September. Expense the amount associated with one month’s rent. |
31. |
A physical inventory showed that only $3
| 35. |
00 worth of general office supplies remained on hand as of June 30. This did not include any of the Super RoutePro. There were 5 units of Super RoutePro on hand. We use FIFO to determine the valuation of the supplies.
32.
The annual interest rate on the mortgage payable was 9.00 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on June 16. |
33. |
Record a journal entry to reflect that one half month’s insurance has expired. |
34.
A review of Byte’s job worksheets show that there are unbilled revenues in the amount of $19,000.00 for the period of June 28-30. |
The Building and the Office Equipment have the following estimated useful lives: |
Building – 31.5 years |
35.
Office Equipment – 7.0 years |
Management has decided that assets purchased during a month are treated as if purchased on the first day of the month. The building’s salvage value is $7,000.00. The office equipment has a salvage value of $400.00. Calculate the depreciation for one month using the straight-line method of depreciation. |
The Computer Equipment has an estimated useful life of 5.00 years. |
| 36 |
.
Management has decided that assets purchased during a month are treated as if purchased on the first day of the month. The computer equipment’s scrap value is $20,000.00. Calculate the depreciation for one month using the double declining method of depreciation. |
37.
A review of the payroll records show that unpaid salaries in the amount of $576.00 are owed by Byte for three days, June 28 – 30. Ignore payroll taxes. |
The note payable to Royce Computers (transactions 04 and 08) is a five-year note, with interest at the rate of 12 percent annually. Interest expense should be computed based on a 360 day year. |
38. |
[IMPORTANT NOTE: The original note on the computer equipment purchased on June 2 was $120,000.00. On June 10, eight days later, $23,000.00 was repaid. Interest expense must be |
calculated on the $120,000.00 for eight days. In addition, interest expense on the $97,000.00 balance of the loan ($120,000.00 less $23,000.00 = $97,000.00) must be calculated for the 20 days remaining in the month of June.] |
| 39 |
.
Our CPA has informed us to estimate that 3.00% of Computer & Consulting Revenue will be uncollectable. |
40.
Based on the information on the “Bank Reconciliation” sheet prepare the journal entry required to increases cash. |
41. |
Based on the information on the “Bank Reconciliation” sheet prepare the journal entry required to decreases cash. |
42.
Income taxes are to be computed at the rate of 25 percent of net income before taxes. |
[IMPORTANT NOTE: Since the income taxes are a percent of the net income you will want to prepare the Income Statements through the
| Net Income Before Tax |
line. The worksheet contains all of the accounts and their balances which you can then transfer to the appropriate financial statement.]
Closing Entries
43. |
Close the revenue accounts. |
44. |
Close the expense accounts. |
45. |
Close the income summary account. |
46. |
Close the dividends account. |
Transaction
General Journal
|
| A Byte of Accounting |
General Journal
Not in Balance by -$12,000.00 |
Transaction Date Account Name Description Debit Credit
|
|
|
|
|
|
|
|
| Total |
Balance
0 0
01 Jun 01 1110 Cash
|
| investment by Lauryn |
166,500.00 |
166500 |
0 0 0 0
01 Jun 01 3100 Capital Stock investment by Lauryn
|
| 155,400.00 |
(155400) |
0 0 0 0 0 0 0
01 Jun 01 3110
Paid-in Capital in Excess of Par Value |
investment by Lauryn
|
| 11,100.00 |
(11100) |
0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0
# 2 Not in Balance by -$12,000.00 |
02 Jun 01 1110 Cash
|
| investment by Yun Ma |
32,400.00 |
32400 |
0 0 0 0
02 Jun 01 1311 Computer Equip. investment by Yun Ma
|
| 44,400.00 |
(44400) |
0 0 0 0 0 0 0
02 Jun 01 3100 Capital Stock investment by Yun Ma 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
03 Jun 01 1311 Computer Equip. Courtney 0 0 0 0 0
03 Jun 01 1211 Office Equip. Courtney 0 0 0 0 0 0 0 0
03 Jun 01 3100 Capital Stock Courtney 0 0 0 0 0 0 0 0
03 Jun 01 3110 Paid-in Capital in Excess of Par Value Courtney 0 0 0 0 0 0 0 0
0 0
04 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
05 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
06 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
07 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
08 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
09 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
10 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
11 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
12 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
13 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
14 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
15 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
16 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
17 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
18 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
19 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
20 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
21 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
22 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
23 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
24 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
25 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
26 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
27 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
28 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
29 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
30 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
31 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
32 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
33 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
34 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
35 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
36 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
37 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
38 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
39 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
40 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
41 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
42 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
43 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
44 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
45 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
0 0
46 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
00 Dec 31 0 0 0 0 0 0 0 0 0 0
(12000) |
Note: You can only enter data into the yellow filled cells.
Bank Reconcilation
PublicBank |
Byte of Accounting
P.O. Box 5551212,
| Miami, Florida 33999 |
123 Speed Lane |
Ph # (305) 555-1212 |
Miami, Florida 33999
Previous Balance |
|
| – 0 |
Account Number
33999999 |
|
|
| Deposit |
s/Credits
|
|
|
|
|
|
|
|
|
|
| 198,900.00 |
Statement Date |
6/30/200x |
Checks/Debits |
4,120.00 |
| Ending Balance |
|
|
|
| 194,780.00 |
194,780.00
Activity in date order |
Date Description
Amount |
Balance
Jun 01 1 Deposit 198,900.00 198,900.00
Jun 07 |
4
Paid check # 5002 |
Complete JE 4 |
198,900.00 1 0
Jun 15 |
8
Paid check # 5003 |
Complete JE 8 |
198,900.00 1 0
Jun 16 |
10 Deposit 0.00 198,900.00 0
Jun 21 |
11
Paid check # 5005 |
Complete JE 11 |
198,900.00 1 0
|
| Jun 22 |
NSF |
-2,850.00 |
196,050.00 |
0
Jun 22
NSF service charge |
| -25 |
.00
|
| 196,025.00 |
0
Jun 22 12
Paid check # 5006 |
Complete JE 12 |
196,025.00 1
-2850 |
Jun 23 |
21 Deposit
Complete JE 21 |
196,025.00 1 -25
Jun 24 |
Paid check # 306 |
-1,000.00 |
|
|
| 195,025.00 |
0
| Jun 26 |
14
Paid check # 5007 |
Complete JE 14 |
195,025.00 1
250 |
Jun 26 15
Paid check # 5008 |
Complete JE 15 |
195,025.00 1
-1000 |
|
| Jun 27 |
17
Paid check # 5009 |
Complete JE 17 |
195,025.00 1 0
Jun 27
Elec Remit AT&T Telephone |
–
| 180 |
.00
| 194,845.00 |
0
Jun 27 19
Paid check # 5010 |
Complete JE 19 |
194,845.00 1 0
Jun 29 |
Service Charge- Checks |
-65.00 |
194,780.00 180
Ending Balance 194,780.00 0
65
9
Check # 306 is not our check |
Our policy is to charge the customer for any charges related to NSF checks |
The Deposit on Jun 16 was incorrectly recorded by the bank. |
The Deposit on Jun 23 was correctly recorded by the bank. We do not modify the original journal entry. |
Company’s Books |
Bank Statement |
Ending Balance per books |
198,900.00
Ending balance per bank |
194,780.00
| Additions |
Additions
1. Add to Books |
Total
2. Add to Bank |
Total
| Deductions |
Deductions
0 – 0
3. Deduct from Books |
4. Deduct from bank |
| Ending Correct cash balance |
Ending Correct cash balance
Worksheet
| A Byte of Accounting, Inc. |
Worksheet
For Period Ending June 1, 2020 |
Account Unadjusted Trial Balance Adjusting Entries Adjusted Trial Balance Income Statement Balance Sheet
Number Name Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
1110 Cash 198,900.00 0.00 0.00 0.00 198,900.00 0.00
| 1120 |
Accounts Receivable 0.00 0.00 0.00 0.00 0.00 0.00
| 1121 |
Allowance for Doubtful Accounts 0.00 0.00 0.00 0.00 0.00 0.00
| 1130 |
Prepaid Insurance 0.00 0.00 0.00 0.00 0.00 0.00
| 1140 |
Prepaid Rent 0.00 0.00 0.00 0.00 0.00 0.00
| 1150 |
Office Supplies 0.00 0.00 0.00 0.00 0.00 0.00
1211 Office Equip. 0.00 0.00 0.00 0.00 0.00 0.00
1212 Accum. Depr.-Office Equip. 0.00 0.00 0.00 0.00 0.00 0.00
1311 Computer Equip. 0.00 44,400.00 0.00 0.00 0.00 44,400.00
1312 Accum. Depr.-Computer Equip. 0.00 0.00 0.00 0.00 0.00 0.00
| 1411 |
| Building Cost |
0.00 0.00 0.00 0.00 0.00 0.00
1412 Accum. Depr.-Building 0.00 0.00 0.00 0.00 0.00 0.00
1510 Land 0.00 0.00 0.00 0.00 0.00 0.00
2101 Accounts Payable 0.00 0.00 0.00 0.00 0.00 0.00
2102 Advanced Payments 0.00 0.00 0.00 0.00 0.00 0.00
2103 Interest Payable 0.00 0.00 0.00 0.00 0.00 0.00
2105 Salaries Payable 0.00 0.00 0.00 0.00 0.00 0.00
2106 |
Income Taxes Payable 0.00 0.00 0.00 0.00 0.00 0.00
2201 Mortgage Payable 0.00 0.00 0.00 0.00 0.00 0.00
2202 Notes Payable 0.00 0.00 0.00 0.00 0.00 0.00
3100 Capital Stock 0.00 155,400.00 0.00 0.00 0.00 155,400.00
3110 Paid-in Capital in Excess of Par Value 0.00 11,100.00 0.00 0.00 0.00 11,100.00
3200 Retained Earnings 0.00 0.00 0.00 0.00 0.00 0.00
3300 |
Dividends 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
4100 Computer & Consulting Revenue 0.00 0.00 0.00 0.00 0.00 0.00
5010 Rent Expense 0.00 0.00 0.00 0.00 0.00 0.00
5020 Salary Expense 0.00 0.00 0.00 0.00 0.00 0.00
5030 Advertising Expense 0.00 0.00 0.00 0.00 0.00 0.00
5040 Repairs & Maint. Expense 0.00 0.00 0.00 0.00 0.00 0.00
5050 Oil & Gas Expense 0.00 0.00 0.00 0.00 0.00 0.00
5080 Supplies Expense 0.00 0.00 0.00 0.00 0.00 0.00
5090 Interest Expense 0.00 0.00 0.00 0.00 0.00 0.00
5100 Insurance Expense 0.00 0.00 0.00 0.00 0.00 0.00
5110 Depreciation Expense 0.00 0.00 0.00 0.00 0.00 0.00
5120 Bad Debt Expense 0.00 0.00 0.00 0.00 0.00 0.00
5130 Bank Expense 0.00 0.00 0.00 0.00 0.00 0.00
5140 Telephone Expense 0.00 0.00 0.00 0.00 0.00 0.00
5150
Income Taxes Expense |
0.00 0.00 0.00 0.00 0.00 0.00
Total 198,900.00
| 210,900.00 |
0.00 0.00 198,900.00 210,900.00
NET INCOME |
Balance
` |
Income Statement
0 A Byte of Accounting
0 Income Statement
Worksheet!I49 |
Worksheet!L49 |
Worksheet!G50 |
0
| For Month Ending June 1, 2020 |
You must finish the worksheet before you can complete the Income Statement, see FAQ 05. |
Revenues |
4100
Computer Revenue |
0
Expenses |
5010 Rent Expense 0
5020 Salary Expense 0
5030 Advertising Expense 0
5040 Repairs & Maint. Expense 0
5050 Oil & Gas Expense 0
5080 Supplies Expense 0
5090 Interest Expense 0
5100 Insurance Expense 0
5110 Depreciation Expense 0
5120 Bad Debt Expense 0
Bank Expense
5110 Telephone Expense 0
Total 0
Net Income Before Tax 0
Income Tax Expense (Round to two decimal places) |
Round to two places |
Net Income After Tax |
Changes in Owner’s Equity
0 A Byte of Accounting, Inc.
0
Statement of Changes in Retained Earnings |
0 For Month Ending June 1, 2020
You must finish the worksheet before you can complete the Changes in Retained Earnings,see FAQ 05. |
Total
Balance, Beginning of Period |
Net Income
Dividends
Balance, End of Period |
Balance Sheet
0 A Byte of Accounting
d Balance Sheet
As of June 1, 2020 |
– 0
You must finish the worksheet before you can complete the Balance Sheet, see FAQ 05. |
Assets |
Current Assets |
1110 Cash 0
1120 Accounts Receivable 0
1121 Allowance for Doubtful Accounts 0
1130 Prepaid Insurance 0
1140 Prepaid Rent 0
1150 Office Supplies 0
Total 0
Long-Term Assets |
1211 Office Equip. 0
1212 Accum. Depr.-Office Equip. 0
1311 Computer Equip. 0
1312 Accum. Depr.-Computer Equip. 0
1411 Building Cost 0
1412 Accum. Depr.-Building 0
1510 Land 0
Total 0
Total Assets |
0
Liabilities |
Current Liabilities |
2101 Accounts Payable 0
2102 Advanced Payment
2103 Interest Payable 0
2105 Salaries Payable 0
2105 Income Taxes Payable 0
Total 0
Long-Term Liabilities |
2201 Mortgage Payable 0
2202 Notes Payable 0
Total 0
Total Liabilities |
0
Stockholder’s Equity |
Paid-in Capital
Capital Stock
Paid-in Capital in Excess of Par Value
Total Paid-in Capital |
Retained Earnings
Total Sockholder’s Equity |
Total Liabilities and Stockholder’s Equity |
How to Create a Pivot Table |
How to Create a Pivot Table
1.
Log in |
2.
Download the pdf instructions |
Data for General Ledger
Ledger
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