AutoSave OFF A @@" Chapter 06 C-OPJ Mini-Project 14e (version 1).xlsb - AutoRecovered C- Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert X [G Wran Text ~ A A 5 @yo Delete Paste B 1 Merge & Center $ Conditional Format Cell Formatting as Table Styles Sort Filter Format v Find & Select Sensitvity Analyze Data y F5 T As you work on your project, be sure to save your file often. Instructions: You will be recording the March 2021 transactions for Overpriced Jeans, Inc. (OPJ). After recording the March transactions you will be preparing a Pre-Closing Trial Balance, Income Statement, Calculation of Retained Earnings, Balance Sheel, and Post-Closing Trial Balance Excel for Mac: 365, 2019, or 2016 follow these directions: - Click File - Click Save As - In Save As: enter LastNameFirstName-OPJ Format must be Excel Macro-Enabled Workbook (xlsm) - Before clicking Save, be sure the file is being saved to the folder on your Mac Desktop, and not to an online location such as OneDrive Click Save You are given the following: March transactions and Additional Information - Trans tab Chart of Accounts with Account Numbers and Account Names - Chart Accts tab General Joumal pages - Joumal tab General Ledger -- GL Assets, GL Liab-Equity, GL Rev-Exp tabs Forms for the March 31: Pre-Closing Trial Balance (Trial Bal tab), Income Statement and Calculation of Retained Eamings (IS & RE tab). Balance Sheet (BalSht tab), and Post-Closing Trial Balance (Post Close TB tab) To Complete Your Workbook do the following: Print the March Transactions (click the Trans tab and then click the Printer Icon) Use YOUR Transacion sheets - do not use the students sheets Print the Chart of Accounts (click the Chart Accts tab and then click the Printer Icon) Steps 1 and 2 in the Accounting Cycle Record the March transactions in the General Journal. Click the Joumal tab and record your entries directly into the General Journal. Look at the March 1 Common Stock transaction, which has already been entered, for an example of how to make your entries. Do not put the "X" in the Posted column at this time. Use the printed Chart of Accounts as a reference source for the Account Numbers and Account Names that are available in OPJ's accounting system, Step 1 For each business transaction that occurs during the accounting period, determine the effect of the transaction on the General Ledger accounts To make posting from the General Joumal to the General Ledger easier, it is recommended that you print the General Journal -- click the Journal tab and then click the Printer Icon. Post the entries from the printed General Joumal to the General Ledger accounts. Click the GL Assets, GL Liab-Equity, and GL Rev-Exp tabs to find the accounts to be posted. Record your postings directly into the General Ledger. As you post an amount to an account be sure to enter the General Journal Page # into the Journal Page # column. See the first posting to the Cash-Big Bank account for an example. After you post an amount to a General Ledger account, then hand write an "X* in the Posted column of the printed Joumal. This will help you keep track of which entries you have posted Directions Trans Charl Acels Journal AGL Assels AGL Liab-Equily Step 2 Make an entry in the General Journal for each transaction and post the entry to the General Ledger account GL Rev-Exp A Trial Bal IS & RE Balsh! + Post Close TB # Ready + 125% AutoSave OFF AO" Chapter 06 C-OPJ Mini-Project 14e (version 1).xlsb - AutoRecovered C- Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert 9 SA 1 ~ A A Wran Text X [G 3 Paste B 1 Merge & Center $ 2 Delete Format Conditional Format Cell Formatting as Table Styles Sort Filter Find & Select Analyze Data Sensitvity FS T + x x cial JUINIAI. TWITICI you neep Han UI WIILII CILIIS you HATC PUBLOU HALR Usteu. = = -> Enter the "X's, which you hand wrote on your General Joumal pages, into the General Journal. Click the Journal tab and enter the "X"s in the Posted column X Prepare the March 31 adjusting entry for interest due on the Note Payable to Big Bank The information for this adjusting entry is under the heading 'Additional Information on the page that printed when you printed the Trans tab. Click the Journal tab and record the adjusting entry in the General Joumal. Use the printed Chart of Accounts as a reference source for the Account Numbers and Account Names that are available in OPJ's accounting system. >> Post the adjusting entry from the General Journal to the General Ledger accounts. Click the GL Liab-Equity and GL Rev-Exp tabs to find the accounts to be posted. As you post an amount to an account be sure to enter the General Journal Page 4 into the Journal Page # column. After you post an amount to a General Ledger account, click back on the Journal tab and enter an "X" in the Posted column of the General Joumal. P9. 2 Step 3 in the Accounting Cycle 3 At the end of the accounting period batore preparing the financial statements, determine Y any of the General Ledger account balances need to be adjusted. Enter any required adjusting entries into the General Journal and post the adjusting entries to the General Ledger accounts Print OPJ's General Ledger by clicking the GL Assets tab and then clicking the Printer icon, clicking the GL Liab-Equity tab and then clicking the Printer icon, and clicking the GL Rev-Exp tab and then clicking the Printer icon. >> Using the printed General Ledger, enter the ending account balances into the March 31 Pre-Closing Trial Balance. Click the Trial Bal tab and enter the amounts into the Pre-Closing Trial Balance. Print the March 31 Pre-Closing Trial Balance by clicking the Printer icon Step 4 in the Accounting Cycle Prepare a Pro-Closing Trial - Balance to determine that the accounts in the General Ledger are in balance Using the printed March 31 Pre-Closing Tral Balance, prepare the March 2021 Income Statement. Click the IS & RE tab and enter the amounts into the Income Statement Step 5 in the Accounting Cycle Prepare an Income Statement from the ending balances in the General Ledger revenue and expense accounts. Using the printed Pre-Closing Trial Balance and the Net Income amount, prepare the Calculation of Retained Earnings as of March 31 for the Balance Sheet. Click the IS & RE tab and enter the amounts into the schedule. Step 6 in the Accounting Cycle Calculate the ending balance of the Retained Earnings account that is needed for the preparation of the Balance Sheet Using the printed March 31 Pre-Closing Trial Balance and the amount from the Directions Trans Chart Acces A Journal AGL Assels Step 7 in the Accounting Cycle Prepare the Balance Sheet from the ending balances in the GL Rev-Exp A Trial Bal AGL Liab-Equity IS & RE Balsh! + Post Close TB # Ready + 125% AutoSave OFF AO" Chapter 06 C-OPJ Mini-Project 14e (version 1).xlsb - AutoRecovered C- Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert SA 9 ~ A A ab Wran Text [G Paste 1 V ~ di A Merge & Center % SB Delete Format Conditional Format Cell Formatting as Table Styles Sort Filter Find & Select Analyze Data Sensitvity y FS 4 x fx T Using the printed General Ledger, enter the ending account balances into the March 31 Pre Closing Tral Balance. Click the Trial Bal tab and enter the amounts into the Pre-Closing Trial Balance. Print the March 31 Pre-Closing Trial Balance by clicking the Printer icon Prepare a Pre-Closing Trial Balance to determine that the Accounts in the General Larger are in balance Using the printed March 31 Pre-Closing Trial Balance, prepare the March 2021 Income Statement. Click the IS & RE tab and enter the amounts into the Income Statement Step 5 in the Accounting Cycle Prepare an Income Statement from the ending balances in the General Ledger revenue and expense accounts Using the printed Pre-Closing Trial Balance and the Net Income amount, prepare the Calculation of Retained Eamings as of March 31 for the Balance Sheet. Click the IS & RE tab and enter the amounts into the schedule. Step 6 in the Accounting Cycle Calculate the ending balance of the Retained Earings account that is needed for the preparation of the Balance Sheet Using the printed March 31 Pre-Closing Trial Balance and the amount from the Calculation of Retained Earings as of March 31, prepare the March 31, 2021 Balance Sheet. Click the BalSht tab and enter the amounts into the Balance Sheet. Step 7 in the Accounting Cycle Prepare the Balance Sheet from the ending balances in the General Ledger asset accounts, liability accounts, Common Stock account, and the calculated ending balance for the Relained Eamings account. - Prepare the closing entries. Click the Journal tab and enter the closing entries into the General Journal. Place your closing entries on Page #3 of the General Journal. Post the closing entries from the General Joumal to the General Ledger accounts. Click the GL Liab-Equity, and GL Rev-Exp tabs to find the accounts to be posted. As you post an amount to an account be sure to enter the General Journal Page #into the Journal Page # column. After you post an amount to a General Ledger account, click back on the Journal tab and enter an "X" in the Posted column of the General Journal. Step 8 in the Accounting Cycle Prepare and enter the revenue and expense closing entries into the General Journal, and post the closing entries to the General Ledger accounts Click the Post Close TB tab and prepare the March 31 Post-Closing Trial Balance, Step 9 in the Accounting Cycle Prepare a Post-Closing Trial Balance to determine that the accounts in the General Ledger are in balance and ready to start a new Accounting Cycle Directions Trans Your norimniniol Charl Acets Journal GL Assels AGL Liab-Equity AGL Rev-Exp A Trial Bal IS & RE Balsh! + Post Close TB # Ready + 125% AutoSave OFF A @@" Chapter 06 C-OPJ Mini-Project 14e (version 1).xlsb - AutoRecovered C- Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert X [G ~ A A Wran Text AYO Paste BIU 1 di A Merge & Center $ % % Delete Format Conditional Format Cell Formatting as Table Styles Sort Filter Find & Select Analyze Data Sensitvity y C2 x T fx Over Priced Jeans, Inc. - Transactions - Additional Information March 2021 Transactions Date Description of the Transaction March 1 Owners of OPJ invested an additional $55,000 cash into the business. The cash is put into Big Bank. 1 (As an example of how to journalize and post a transaction this transaction has already been entered into the General Joumal and posted to the General Ledger March 1 Pay off the $60,000 Note Payable owed to Little Bank. The cash to pay off the note is taken out of Big Bank. Also pay to Little Bank S450 for interest owed on the Note Payable for February. The $450 cash is also taken out of Big Bank. March 1 Take $4.800 cash out of Big Bank to pay for March's rent. March 2 The customer that purchased on credit on February 15 pays $88,000 cash to pay off the amount due. The cash is deposited into Big Bank. March 10 Sale of inventory to a customer -- selling price $72.500 -- cost of the inventory sold $23,000. The customer pays cash. The cash is deposited into Little Bank. March 15 Take $26.000 cash out of Little Bank to pay employees for wages they have earned. March 16 Purchase $77,500 of additional inventory. OPJ will pay the manufacturer 50% of the $77,500 in 10 days. OPJ will pay the remaining 50% in 30 days. March 17 Sale of inventory to a customer-selling price $115.000 -- cost of the inventory sold $33.000. The customer will pay for the purchase in 30 days. March 20 Sale of inventory to a customer -- Selling price $165,500 -- cost of the inventory sold $42,750. The customer pays $35,500 cash that is deposited into Little Bank. The customer will pay the remaining amount in 30 days. L March 22 Purchase inventory for $42,000 cash. The cash is taken out of Big Bank. March 26 Pay the manufacturer the 50% due on the March 16th purchase of Inventory. The cash is taken out of Big Bank March 30 Take $28,500 cash out of Little Bank to pay employees for wages they have warned. Directions Trans Chart Accts Journal AGL Assels GL Liab-Equity GL Rev-Exp Trial Bal A IS & RE BalShl + A Post Close TB # Ready + 125% % AutoSave OFF AOE Chapter 06 C-OPJ Mini-Project 14e (version 1).xlsb - AutoRecovered C- Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert X LI G ~ A A ab Wran Text AYO Paste I U B Merge & Center $ % GB Delete Format Conditional Format Cell Formatting as Table Styles Sort Filter Find & Select Analyze Data Sensitvity y v C2 + x X T (As an example of how to journalize and poet a transaction -- this transaction has already been entered into the General Journal and posted to the General Ledger.) 1 March 1 Pay off the $60,000 Note Payable owed to Little Bank. The cash to pay off the note is taken out of Big Bank. Also pay to Little Bank $450 for interest owed on the Nole Payable for February The $450 cash is also taken out of Big Bank. March 1 Take $4,800 cash out of Big Bank to pay for March's rent. 1 $ March 2 The customer that purchased on credit on February 15 pays $88,000 cash to pay off the amount due. The cash is deposited into Big Bank. March 10 Sale of inventory to a customer-selling price $72,500 - cost of the inventory sold $23,000. The customer pays cash. The cash is deposited into Little Bank. March 15 Take $26,000 cash out of Little Bank to pay employees for wages they have samed March 16 Purchase $77.500 of additional inventory. OPJ will pay the manufacturer 50% of the $77,500 in 10 days. OPJ will pay the remaining 50% in 30 days. March 17 Sale of inventory to a customer-selling price $115,000 - cost of the inventory sold $33,000 The customer will pay for the purchase in 30 days. March 20 Sale of inventory to a customer-selling price $165,500 - cost of the inventory sold $42,750. The customer pays $35,500 cash that is deposited into Little Bank. The customer will pay the remaining amount in 30 days. March 22 Purchase inventory for $42.000 cash. The cash is taken out of Big Bank. March 26 Pay the manufacturer the 50% due on the March 16th purchase of inventory. The cash is taken out of Big Bank March 30 Take $28,500 cash out of Little Bank to pay employees for wages they have eamed. . Additional Information Note Payable Big Bank: Interest due to Big Bank on the Note Payable for the month of March is $990. As of March 31 OPJ owes Big Bank a total of $1,590 for interest ($800 for February + $990 for March). Interest will be paid to Big Bank in June. Directions Trans Charl Acts Journal AGL Assels A GL Liab-Equity AGL Rev-Exp Trial Bal A IS & RE BalShl A Post Close TB # Ready + 125% AutoSave OFF AO" Chapter 06 C-OPJ Mini-Project 14e (version 1).xlsb - AutoRecovered C- Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert X [G ~ A A Wran Text Y Paste B u v ar A Delete Format Merge & Center Conditional Format Cell Formatting as Table Styles Sort Filter Find & Select Analyze Data Sensitvity y D2 Xfx X Over Priced Jeans, Inc. - Chart of Accounts Account # Account Name 100 105 110 120 150 Assets: Cash - Big Bank Cash - Little Bank Accounts Receivable Inventory Equipment 200 210 215 220 225 Liabilities: Accounts Payable Note Payable - Big Bank Note Payable - Little Bank Interest Payable - Big Bank Interest Payable - Little Bank 300 305 Equity: Common Stock Retained Earnings Revenues: Sales Revenue 400 500 510 515 520 Expenses: Cost of Goods Sold Rent Expense Wages Expense Interest Expense Directions Trans Chart Acets A Journal AGL Assels AGL Liab-Equity GL Rev-Exp A Trial Bal IS & RE A BalSht + Post Close TB # Ready + 125% AutoSave OFF AO" Chapter 06 C-OPJ Mini-Project 14e (version 1).xlsb - AutoRecovered C- Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert v X [G ~ A A Wran Text @yo Delete Paste B 1 Av Merge & Center $ 9 Conditional Format Cell Formatting as Table Styles Sensitvity Format Sort Filter Analyze Data y Find & Select C11 + x fx Sarah Charles Over Priced Jeans, Inc. General Journal Page 1 Account Name Posted Debit Credit 2021 Month-Day 3-1 Account Number 100 300 55,000.00 Cash - Big Bank Common Stock Issue additional Common Stock 55,000.00 Directions Trans Chart Accts Journal AGL Assels GL Liab-Equity GL Rev-Exp Trial Bal A IS & RE BalShl A Post Close TB E Ready + 125% AutoSave OFF A @@" Chapter 06 C-OPJ Mini-Project 14e (version 1).xlsb - AutoRecovered C- Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert v X LG ~ A A Wran Text DE AYO Paste B 1 Uv Av Merge & Center $ SUB Delete Format Conditional Format Cell Formatting as Table Styles Find & Select Sensitvity Sort Filter Analyze Data y G61 Sarah Charles Over Priced Jeans, Inc. General Ledger CAUTION Enter amounts into the accounts by typing in the amounts. Do NOT copy cells from the General Journal into the accounts. Account # 100 Cash - Big Bank Journal Page 1 Debit Credit Balance 2021 Month-Day 3-1 3-1 Beginning Balance 76,000.00 55,000.00 76,000.00 Dr 131,000,00 DE 1 Account # 105 Cash - Little Bank Journal Page + Credit 2021 Month-Day 3-1 Beginning Balance Balance Debit 27,000.00 27,000.00 Dr Account # 110 Accounts Receivable Journal Page 4 Debit Credit 2021 Month-Day 1 Directions Balance Trans Chart Acces A Journal GL Assets 100 Oon onlr AGL Liat-Equily AGL Rev-Ex A Trial Bal AIS & RE A BalSht A Posl Close TB + Ready + + 125% % AutoSave OFF A @@" Chapter 06 C-OPJ Mini-Project 14e (version 1).xlsb - AutoRecovered C- Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert v - AP A 2 Wran Text ab @yo [G Delete Paste B BIU 1 ar Av Merge & Center $ % Conditional Format Cell Formatting as Table Styles Sensitvity Format Sort Filter Analyze Data y Find & Select G61 fx T Account # 110 Accounts Receivable Journal Page 1 Debit 2021 Month-Day 3-1 Credit Balance 158,000,00 DY Beginning Balance 158,000.00 Account # 120 Inventory Journal Page # Debit 2021 Month-Day - 3-1 Beginning Balance Credit Balance 36,000.00 DY 36,000.00 Account # 150 Equipment Journal Page Credit 2021 Month-Day 3-1 Balance Debit 60,000.00 Beginning Balance 60,000.00 DE Directions Trans Charl Accis Journal GL Assels A GL Liabs-Equily AGL Rev-Exp A Trial Bal AIS & RE A BalSht A Post Close TB + Ready + 125% AutoSave OFF @P" Chapter 06 C-OPJ Mini-Project 14e (version 1).xlsb - AutoRecovered C- Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert v ~ A A Wran Text @yo [G Paste B 1 Uv Av Merge & Center $ 94 2 Delete Format Conditional Format Cell Formatting as Table Styles Find & Select Sensitvity Sort Filter Analyze Data y C10 x Sarah Charles Over Priced Jeans, Inc. General Ledger CAUTION Enter amounts into the accounts by typing in the amounts. Do NOT copy cells from the General Joumal into the accounts. Account # 200 Accounts Payable Journal Page Debit Credit 2021 Month-Day 3-1 Balance Beginning Balance 0.00 0.00 Cr Account # 210 Note Payable - Big Bank Journal Page Debit 2021 Month-Day 3-1 Balance Credit 65,000.00 Beginning Balance 65,000.00 C Account # 215 Note Payable - Little Bank 2021 Month-Day 3-1 Journal Page Debit Credit 60,000.00 Balance 60,000.00 C Beginning Balance Account # 220 Interest Payable - Big Bank Journal Page + 1 Debit Credit 2021 Month-Day 3-1 Beginnino Balance Directions Trans nnnn AGL Assels Balance inn nnl GL Liab-Equity - A GL Rev-Exp Charl Accts A Journal A Trial Bal AIS & RE A BalSht A Posl Close TB + Ready + + 125% % AutoSave OFF AOE Chapter 06 C-OPJ Mini-Project 14e (version 1).xlsb - AutoRecovered C- Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert v X [G ~ A A 2 Wraa Text @yo Delete Paste BIU 1 Merge & Center $ Conditional Format Cell Formatting as Table Styles Sensitvity Format Find & Select Sort Filter Analyze Data y C10 . x fx T Account # 220 Interest Payable - Big Bank Journal Page 1 Debit 2021 Month-Day 3-1 Credit Balance 600.00 G Beginning Balance 600.00 Account # 225 Interest Payable - Little Bank Journal Page Debit 2021 Month-Day 3-1 Balance Credit 450.00 Beginning Balance 450.00 CY Account # 300 # Common Stock Journal Page Debit 2021 Month-Day 3-1 3-1 Beginning Balance Credit 75,000.00 55,000.00 Balance 75,000.00 C 130,000.00 Cr 1 Account # 305 Retained Eamings Journal Page 1 Debit Credit 2021 Month-Day 3-1 Balanco 155,950.00 155,950.00 C Beginning Balance BBBB Directions Trans Charl Aects Journal AGL Assels GL Liab-Equity A GL Rev-Exp A Trial Bal AIS & RE A BalSht A Post Close TB + Ready + 125% AutoSave OFF A @@" Chapter 06 C-OPJ Mini-Project 14e (version 1).xlsb - AutoRecovered C- Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert v X [G ~ A A 2 Wran Text @yo Paste B 1 Uv O A Merge & Center $ So Delete Format Conditional Format Cell Formatting as Table Styles Find & Select Sensitvity Sort Filter Analyze Data y C10 T Sarah Charles OverPriced Jeans, Inc. , General Ledger CAUTION Enter amounts into the accounts by typing in the amounts. Do NOT copy cells from the General Journal into the accounts. Account # 400 Sales Revenue Journal Page Debit Credit 2021 Month-Day 3-1 Beginning Balance Balance 0.00 0.00 Cr Account # 500 Cost of Goods Sold Journal Page Debit 2021 Month-Day 3-1 Credit Balance 0.00 Dr Beginning Balance 0.001 Account # 510 Rent Expense Debit Credit Balance 2021 Journal Month-Day - Page + 3-1 Beginning Balance 29.099 Directions Trans Chart Acces 0.00 0.00 DY A Journal AGL Assels GL Liab-Equity GL Rev-Exp A Trial Bal AIS & RE A BalSht A Post Close TB Ready HH + 125% % AutoSave OFF A @@" Chapter 06 C-OPJ Mini-Project 14e (version 1).xlsb - AutoRecovered C- Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert v X [G ~ A A 2 Wran Text @yo Delete Paste BIU 1 di A Merge & Center $ Conditional Format Cell Formatting as Table Styles Sensitvity Format Sort Filter Analyze Data y Find & Select C10 T Account # 510 Rent Exponse Journal Page Debit Credit 2021 Month-Day 3-1 Balance Beginning Balance 0.00 0.00 Dr Account # 515 Wages Expense Journal Page Debit 2021 Month-Day 3-1 Credit Balance 0.00 Dr Beginning Balance 0.00 Account # 520 Interest Expense 2021 Journal Page Credit Balance Month-Day 3-1 Debit 0.00 Beginning Balance 0.00 D Directions Trans Chart Accts A Journal AGL Assels A GL Liab-Equity GL Rev-Exp A Trial Bal A AIS & RE A BalSht A Post Close TB Ready HH + 125% % AutoSave OFF AOE Chapter 06 C-OPJ Mini-Project 14e (version 1).xlsb - AutoRecovered C- Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments SA - AP A Wran Text Insert DE 27 LG Delete Paste BU 1 di A Merge & Center $ % Conditional Format Cell Formatting as Table Styles Format Sort Filter Sensitvity v Find & Select Analyze Data y E6 xfx 4a11 Sarah Charles OPJ's - March 31, 2021 Pre-Closing Trial Balance CAUTION Enter amounts into the Pre-Closing Trial Balance by typing in the amounts. Do NOT copy cells from the General Ledger. Account # Debit Credit 100 105 110 120 150 200 210 215 220 225 300 305 400 500 510 515 520 Account Name Cash - Big Bank Cash - Little Bank Accounts Receivable Inventory Equipment Accounts Payable Note Payable - Big Bank Note Payable - Little Bank - Interest Payable - Big Bank Interest Payable - Little Bank Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Rent Expense Wages Expense Interest Expense Totals 0.00 0.00 Directions Trans Chart Acces Journal AGL Assets GL Liab-Equity AGL Rev-Exp Trial Bal A IS & RE A BalShl A Post Close TB # Ready + 125% AutoSave OFF AO" Chapter 06 C-OPJ Mini-Project 14e (version 1).xlsb - AutoRecovered C- Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments 9 Insert SAS 1 ~ A A Wran Text LG Delete Paste B I U 1 Merge & Center $ 2 GB Conditional Format Cell Formatting a Table Styles Sort Filter Format Find & Select Sensitvity Analyze Data D6 X Sarah Chanics Overpriced Jeans, Inc. Income Statement for the Month Ended March 31, 2021 CAUTION Enter amounts into the Financial Statements by typing in the amounts. Do NOT copy cells from the General Ledger or Pre-Closing Trial Balance. Sales Revenue Cost of Goods Sold Gross Profit 0.00 Expenses Rent Expense Wages Expense Interest Expense Total Expenses 0.00 $0.00 Net Income Calculation of Retained Earnings as of March 31 for the Balance Sheet Retained Earnings Current Balance Plus March Net Income Retained Earnings as of March 31 for Balance Sheet 0.00 Directions Trans Chart Acces A Journal AGL Assets GL Liab-Equity AGL Rev-Exp Trial Bal IS & RE BalSht A Post Close TB Ready + 125% AutoSave OFF AO" Chapter 06 C-OPJ Mini-Project 14e (version 1).xlsb - AutoRecovered C- Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert SAS X LG ~ A A Wran Text Delete Paste 1 V ~ CA Merge & Center $ % Conditional Format Cell Formatting as Table Styles Sort Filter Format Find & Select Sensitvity Analyze Data DS T Sarah Charles Overpriced Jeans, Inc. Balance Sheet as of March 31, 2021 CAUTION Enter armounts into the Balance Sheet by typing in the amounts. Do NOT copy cells from the General Ledger or Pre-Closing Trial Balance. Assets Cash - Big Bank Cash - Little Bank Accounts Receivable Inventory Equipment Total Assets S0.00 Liabilities Accounts Payable Note Payable - Big Bank Note Payable - Little Bank Interest Payable - Big Bank Interest Payable - Little Bank Total Liabilities 0.00 Equity Common Stock Retained Earnings Total Equity 0.00 Total Liabilities & Equity $0.00 Directions Trans Charl Accts A Journal AGL Assets GL Liab-Equity AGL Rev-Exp Trial Bal A IS & RE BalSht A Post Close TB Ready + 125% AutoSave OFF AO" Chapter 06 C-OPJ Mini-Project 14e (version 1).xlsb - AutoRecovered C- Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert SAS X LG - AP A Wran Text Delete Paste 1 UK 1 Av Merge & Center Conditional Format Cell Formatting as Table Styles Format v Sort Filter Sensitvity v Find & Select Analyze Data y E6 + x X T Sarah Charles OPJ's - March 31, 2021 Post-Closing Trial Balance CAUTION Enter amounts into the Post-Closing Trial Balance by typing in the amounts. Do NOT copy cells from the General Ledger. Account # Debit Credit 100 105 110 120 150 200 210 215 220 225 300 305 400 500 510 515 520 Account Name Cash - Big Bank Cash - Little Bank Accounts Receivable Inventory Equipment Accounts Payable Note Payable - Big Bank Note Payable - Little Bank - Interest Payable - Big Bank Interest Payable - Little Bank Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Rent Expense Wages Expense Interest Expense Totals 0.00 0.00 Directions Trans Charl Accis A Journal AGL Assets GL Liab-Equity AGL Rev-Exp Trial Bal A IS & RE A BalShl Post Close TB Ready HH - + 125%