Due March 7. Really just need help with step 3. Anyone who choses to help me remember it's a CLASSIFIED BALANCE SHEET, and yes I would still need help with the income statement and statement of retained earnings. Lol Thanks In Advance!
125% BE View Zoom Insert Table Chart Text Shape Media Comment Collaborate Add Category Pivot Table Chart of Accounts Journal-December + + Directions Unadjusted Trial Balance Adjusted Trial Balance Financial Statements b Based on an analysis of A/R, ABC Company anticipates 3% of A/R to be uncollectible. Buildings are depreciated using the straight line method with no salvage value for 30 years. Round to the nearest dollar. d Store Fixtures are depreciated using the straight-line method with no salvage value for 5 years. Round to the nearest dollar. Directions: 1 Journalize the routine transactions above on the Journal-December tab. Use the Unadjusted Trial Balance and adjusting information provided above to journalize the 4 adjusting entries on the Journal - December tab (below the routine entries). 2 Use the Adjusted Trial Balance provided to prepare financial statments for ABC Corporation. You are only responsible for preparing the Income Statement, Statement of Retained Eamings, and classified Balance Sheet. These should be completed on the Financial Statements tab. 3 You should complete your final project in this Excel workbook using the following tabs: Journal- December and Financial Statements. You may use another spreadsheet program as long as Excel can open the file. 125% R 69 A Text View Zoom Add Category Pivot Table Insert Table Chart Collaborate Shape Media Comment Adjusted Trial Balance + Directions Chart of Accounts Journal-December Unadjusted Trial Balance Financial Statements ABC Corporation Statement of Retained Earnings For the month ended December 31, 20xx ABC Corporation Balance Sheet December 31, 20xx 125% de , A View Zoom Add Category Pivot Table Insert Table Chart Text o e Shape Media Comment Adjusted Trial Balance Collaborat + Directions Chart of Accounts Journal-December Unadjusted Trial Balance Financial Statements ABC Corporation Adjusted Trial Balance December 31, 20xx $ $ $ $ $ $ $ $ Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory land Land Building Accumulated Depreciation - Building Store Fixtures Accumulated Depreciation - Store Fixtures Accounts Payable Cash Dividends Payable Common Stock, $5 Par Value Paid-in Capital in Excess of Par - Common Stock Paid-in Capital - Treasury Stock Retained Earnings Cash Dividends Treasury Stock Sales Cost of Merchandise Sold Advertising Expense Depreciation Expense - Building Depreciation Expense - Store Fixtures Utilities Expense Bad Debt Expense Debits Credits 162,850 73,500 $ 2,205 148,500 100,000 75,000 $ 208 12,000 S 200 $ 102,000 S $ 125,000 $ 325,000 S 1,250 $ 32,000 4,500 $ 122,500 56,500 10,000 208 200 900 2.205 $ $ $ $ S $ $ $ S $ $ 678,363 IS 678,363 125% 29 View Zoom Insert Table Chart Text Shape Media Comment Collaborate Add Category Pivot Table Chart of Accounts Journal-December + Directions Unadjusted Trial Balance Adjusted Trial Balance Financial Statements Name ABC Corporation Financial Statements ABC Corporation Income Statement For the month ended December 31, 20xx ABC Corporation Statement of Retained Earnings For the month ended December 31, 20xx ABC Corporation
