CLASS NAME : ACCY 206 (Introductory Financial Accounting)

HI , I NEED HELP WITH THIS EXCEL HOMEWORK FOR ACCOUNTING CLASS .

THANK YOU !

Score from TB Score from FS Total Your Score Total Possible 1 0 1 25 15 40 Instructions 1. In the Trial Balance Tab, create drop down boxes in the classification column so that a user can chose whether the item is an Asset, Liability or part of Owners' Equity. 2. After you have created drop down boxes, you need to click on the dropdown and enter the appropriate classification for each item. For example, in cell C6 use your drop down box and select that an Accounts payable is a Liability. 3. Sort the Accounts by the classification column. You need to sort them in the following order - Assets, Liabilities and then Owners' Equity. 4. Once the accounts have been sorted by classification, then order the accounts the way they should be listed on the trial balance. For example, a 1 should be entered for Cash in the Order column in the appropriate cell. Use numbers 1 -19. Check figure: Cash should be in row 8 after sorting the accounts in item 3. 5. Once you have determined the proper ordering, then sort the accounts by the order column using the same method that was previously done for Classification. Check figure: Cash should be in row 6 after sorting by order. 6. On the financial Statement tab, complete three financial statements. (Statement of cash flows is omitted for this exercise.) To complete the statements, link sources when possible and use formulas when the item is highlighted in blue. Linking an account requires you to hit "=" and then click on the cell that you want to link. This will pull in the amount from the cell you are linking. You should link from one tab within excel to another. Scoring: The homework is worth 35 points. It is possible to receive a score of up to 40 points. Assistance How to create drop down boxes: 1. Go to cell C6 in the Trial Balance tab 2. Click the Data Tab at the top of the excel worksheet 3. Click on Data Validation 4. In the first drop down select List 5. Click on the source option and enter F4:F7 6. Copy the drop down box created and paste in cells C7:C24 Snips have been provided to the right How to sort: 1. Within the data highlight cells A5:D24 2. Click on Sort 3. When the box opens click the option that says my data has headers and then sort by classification (Snapshots have been provided below) Check figures: Dividends should be in row 17, classified as Owners' Equity and given the number 12 in the order column Service Revenue should be in row 18, classified as Owners' Equity and given the number 13 in the order column Accounts Receivable should be given the number 7 in the order column RYAN COMPANY Adjusted Trial Balance August 31, 2017 Description Accounts Payable Accounts Receivable Accumulated Depreciation - Equipmen Cash Common Stock Depreciation Expense Dividends Equipment Insurance Expense Prepaid Insurance Rent Expense Rent Revenue Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Service Revenue Supplies Supplies Expense Unearned Rent Revenue Dr./(Cr.) Classification (5,800) 9,400 (4,800) 10,900 (10,000) 1,200 2,800 16,000 1,500 2,500 10,800 (13,100) (5,500) 18,100 (1,100) (34,600) 500 2,000 (800) - Order Asset Liability Owners' Equity Income Statement Revenues 1 Service Revenue 2 Rent Revenue Total Revenues Expenses 1 Salaries and Wages Expense 2 Supplies Expense 3 Rent Expense 4 Insurance Expense 5 Depreciation Expense Total Expenses Net Income formula needed link amounts from trial balance tab Tip: Service revenue should be a positive amount on the financial stat but it is a credit on the trial balances. Retained Earnings B Assets Beginning Retained Earnings Plus/Minute Net Income /(Loss) Less Dividends (enter as a positive) Ending Retained Earnings mounts from trial balance tab Current Assets Total Current Assets PP&E (net) Total Assets Current Liabilities Total Current Liabilities Total Liabilities Stockholders Equity hould be a positive amount on the financial statements e trial balances. Total Stockholders' Equi Total Liabilities and Stockho Balance Sheet Assets Current Assets Cash Accounts Receivable Supplies Prepaid Insurance Total Current Assets PP&E (net) Total Assets Current Liabilities Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Total Current Liabilities Total Liabilities Stockholders Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity