Financial Statement (Income statement, retained earnings, and balance sheet)

: Excel File Edit View Insert Format Tools Data Window Help Classroom Accounting Cycle Exercise AutoSave OFF Data View Home Draw Formulas Review Tell me Insert Page Layout & A A V 11 = = = General Calibri (Body) ab Wrap Text a Av Merge & Center Paste $ %) B25 X Vfx NOVA Services pays $400 cash to attend an event to promote business at a convention in January C A B 1-Jan NOVA Services was incorporated in the state of VA. The company will provide management consulting services to business and governmental clients. 2-Jan Tom M. contributed $275,000 of personal funds to the business in exchange for shares of common stock 3-Jan NOVA Services signed a contract to provide consulting services for $100,000 to ABC client 4-Jan NOVA Services received $100,000 from ABC for work to be performed half in January and half in February 5-Jan NOVA Services bought $600 of office supplies on account 6-Jan NOVA Services bought $50,000 of office equipment using cash 7 7-Jan NOVA Services hired 2 consultants 8 8.Jan NOVA Services purchased a 12 month insurance contract for $12,000 9 9-Jan NOVA Services paid $1750 cash for rental of office space for January 10 10-Jan NOVA Services paid $910 on account for advertising during January 11 11-Jan NOVA Services was paid $10,750 from Fed Corp to perform services during January 12 12-Jan NOVA Services purchased $450 of supplies using cash NOVA Services signed a contract to provide consulting services for $54,000 to DMV client Services to be provided equally over the next 12 months. Client will be 13 13-Jan billed at end of each month. 14 14-Jan NOVA Services pays employees $3,000 in salaries 15 15-Jan NOVA Services borrowed $450,000 on a 5% note payable. 16 16-Jan NOVA Services purchased Land for $300,000 cash with plans to build an office building within the next year 17 17-Jan NOVA Services paid $2000 cash for repairs and maintenace to equipment 18 20-Jan NOVA Services loans $24,000 to G Corp on a 10% (interest) note receivable 19 21-Jan NOVA Services pays employees $3,000 in salaries 20 22-Jan NOVA Services gets paid $12,850 for services performed to Vector Corp 21 23-Jan NOVA Services purchases $150,000 in stock investments 22 24-Jan NOVA Services gets a $5375 bill for utilities used in January 23 25-Jan NOVA Services pays $1750 in office rent for month of February 24 26 Jan NOVA Services pays $70,000 in dividends 25 27-Jan NOVA Services pays $400 cash to attend an event to promote business at a convention in January 26 28-Jan NOVA Services pays $490 cash for taxes 27 29-Jan NOVA Services pays employees $3,000 in salaries 28 30-Jan NOVA Services paid for $500 office supplies previously purchased on account 29 31-Jan NOVA Services has to prepare financial statements for the owner and the bank from which the funds were borrowed. 30 January Month End Adjustments 31 31-Jan NOVA Services calculated $550 in depreciation 32 31-Jan NOVA Services owes January interest on the loan 33 31-Jan NOVA Services counted $500 in remaining supplies (on hand supplies) 34 31-Jan NOVA Services owes employees $1,500 in salaries for work performed in January 35 Are there any other accounts that need adjusting?!! 36 37 38 39 40 + Transactions Journal Entries Ledger Balances Trial Balance Adjusting Entries Adjusted Ledger ... o Send a chat : Excel File Edit View Insert Format Tools Data Window Help Classroom Accounting Cycle Exercise AutoSave OFF Data View Home Draw Formulas Review Tell me Insert Page Layout & A A V 11 = = = General Calibri (Body) ab Wrap Text a Av Merge & Center Paste $ %) B25 X Vfx NOVA Services pays $400 cash to attend an event to promote business at a convention in January C A B 1-Jan NOVA Services was incorporated in the state of VA. The company will provide management consulting services to business and governmental clients. 2-Jan Tom M. contributed $275,000 of personal funds to the business in exchange for shares of common stock 3-Jan NOVA Services signed a contract to provide consulting services for $100,000 to ABC client 4-Jan NOVA Services received $100,000 from ABC for work to be performed half in January and half in February 5-Jan NOVA Services bought $600 of office supplies on account 6-Jan NOVA Services bought $50,000 of office equipment using cash 7 7-Jan NOVA Services hired 2 consultants 8 8.Jan NOVA Services purchased a 12 month insurance contract for $12,000 9 9-Jan NOVA Services paid $1750 cash for rental of office space for January 10 10-Jan NOVA Services paid $910 on account for advertising during January 11 11-Jan NOVA Services was paid $10,750 from Fed Corp to perform services during January 12 12-Jan NOVA Services purchased $450 of supplies using cash NOVA Services signed a contract to provide consulting services for $54,000 to DMV client Services to be provided equally over the next 12 months. Client will be 13 13-Jan billed at end of each month. 14 14-Jan NOVA Services pays employees $3,000 in salaries 15 15-Jan NOVA Services borrowed $450,000 on a 5% note payable. 16 16-Jan NOVA Services purchased Land for $300,000 cash with plans to build an office building within the next year 17 17-Jan NOVA Services paid $2000 cash for repairs and maintenace to equipment 18 20-Jan NOVA Services loans $24,000 to G Corp on a 10% (interest) note receivable 19 21-Jan NOVA Services pays employees $3,000 in salaries 20 22-Jan NOVA Services gets paid $12,850 for services performed to Vector Corp 21 23-Jan NOVA Services purchases $150,000 in stock investments 22 24-Jan NOVA Services gets a $5375 bill for utilities used in January 23 25-Jan NOVA Services pays $1750 in office rent for month of February 24 26 Jan NOVA Services pays $70,000 in dividends 25 27-Jan NOVA Services pays $400 cash to attend an event to promote business at a convention in January 26 28-Jan NOVA Services pays $490 cash for taxes 27 29-Jan NOVA Services pays employees $3,000 in salaries 28 30-Jan NOVA Services paid for $500 office supplies previously purchased on account 29 31-Jan NOVA Services has to prepare financial statements for the owner and the bank from which the funds were borrowed. 30 January Month End Adjustments 31 31-Jan NOVA Services calculated $550 in depreciation 32 31-Jan NOVA Services owes January interest on the loan 33 31-Jan NOVA Services counted $500 in remaining supplies (on hand supplies) 34 31-Jan NOVA Services owes employees $1,500 in salaries for work performed in January 35 Are there any other accounts that need adjusting?!! 36 37 38 39 40 + Transactions Journal Entries Ledger Balances Trial Balance Adjusting Entries Adjusted Ledger ... o Send a chat