Financial Statements: Create financial statements using appropriate methods based on accepted accounting principles. Be sure to prepare these financial statements in the order listed, as there are important interdependencies among them.
- Income Statement: Prepare the income statement using the adjusted trial balance.
- Statement of Owners Equity: Prepare the statement of owners equity using the adjusted trial balance.
- Balance Sheet: Prepare the balance sheet using the adjusted trial balance.
- Closing Entries: Complete the Closing Entries tab of the company accounting workbook by closing all temporary income statement amounts to create closing entries.
- Post-Closing Trial Balance: Prepare the Post-Closing Trial Balance tab of the company accounting workbook in preparation for the next accounting period.
AutoSave Off H2 Workbook 2 - Search Phillips, Tyler PT 7 File Home Insert Page Layout Formulas Data Review View Help Share Comments Insert Calibri 11 - ' ' = = a Wrap Text Accounting WE 47 0 FO DX Delete Paste BIU Es Merge & Center $ %) Format Conditional Format as Cell Formatting Table Styles Styles Sort & Find & Filter Select Editing Analyze Sensitivity Data Clipboard Font Alignment Number Cells Analysis Sensitivity F8 X f 175.65 H I ! J J L M M N P 0 U T Y z 1 4 5 Account 6 Cash 7 Baking Supplies 8 Merchandise Inventory 9 Prepaid Rent 10 Prepaid Insurance 11 Baking Equipment 12 Accumulated Depreciation 13 Office Supplies 14 Accounts Receivable 15 Notes Payable 16 Interest Payable 17 Accounts Payable 18 Wages Payable 19 Common Stook 20 Dividends 21 Bakery Sales 22 Merchandise Sales 23 Baking Supplies Expense 24 Rent Expense 25 Interest Expense 26 Insurance Expense 27 Depreciation Expense 28 Miso. Expense 29 Office Supplies Expense 30 Business License Expense 31 Advertising Expense 32 Wages Expense 33 Telephone Expense 34 COGS 35 36 Total: B E E G A Company Trial Balance 20xx Unadjusted trial balan Adjusting entries Adjusted trial balance Debit Credit Debit Credit Debit Credit 51,436.75 51,436.75 20,500.00 19,400.00 1,100.00 175.65 175.65! 1,500.00 1,500.00 1,200.00 200.00 1,000.00 5,000.00 5,000.00 208.33 208.33 600.00 550.00 50.00 9,700.00 9,700.00 10,000.00 10,000.00 150.00 150.00 7,000.00 7,000.00 480.00 480.00 30,000.00 30,000.00 10,000.00 60,000.00 10,000.00 221.00 60,000.00 19,400.00 221.00 4,500.00 19,400.00 150.00 4,500.00 200.00 150.00 208.33 200.00 250.00 208.33 550.00 250.00 375.00 550.00 200.00 375.00 1,956.00 200.00 150.00 1,956.00 150.00 157.60 107.701.00 +++++++++++++ ###### 157.60 Trial Balance Adjusting Entries Income Statement Statement of Stockholder Equity Balance ... + u + 60% AutoSave Off H2 Workbook 2 - Search Phillips, Tyler PT 7 File Home Insert Page Layout Formulas Data Review View Help Share Comments Insert Calibri 11 - ' ' = = a Wrap Text Accounting WE 47 0 FO DX Delete Paste BIU Es Merge & Center $ %) Format Conditional Format as Cell Formatting Table Styles Styles Sort & Find & Filter Select Editing Analyze Sensitivity Data Clipboard Font Alignment Number Cells Analysis Sensitivity F8 X f 175.65 H I ! J J L M M N P 0 U T Y z 1 4 5 Account 6 Cash 7 Baking Supplies 8 Merchandise Inventory 9 Prepaid Rent 10 Prepaid Insurance 11 Baking Equipment 12 Accumulated Depreciation 13 Office Supplies 14 Accounts Receivable 15 Notes Payable 16 Interest Payable 17 Accounts Payable 18 Wages Payable 19 Common Stook 20 Dividends 21 Bakery Sales 22 Merchandise Sales 23 Baking Supplies Expense 24 Rent Expense 25 Interest Expense 26 Insurance Expense 27 Depreciation Expense 28 Miso. Expense 29 Office Supplies Expense 30 Business License Expense 31 Advertising Expense 32 Wages Expense 33 Telephone Expense 34 COGS 35 36 Total: B E E G A Company Trial Balance 20xx Unadjusted trial balan Adjusting entries Adjusted trial balance Debit Credit Debit Credit Debit Credit 51,436.75 51,436.75 20,500.00 19,400.00 1,100.00 175.65 175.65! 1,500.00 1,500.00 1,200.00 200.00 1,000.00 5,000.00 5,000.00 208.33 208.33 600.00 550.00 50.00 9,700.00 9,700.00 10,000.00 10,000.00 150.00 150.00 7,000.00 7,000.00 480.00 480.00 30,000.00 30,000.00 10,000.00 60,000.00 10,000.00 221.00 60,000.00 19,400.00 221.00 4,500.00 19,400.00 150.00 4,500.00 200.00 150.00 208.33 200.00 250.00 208.33 550.00 250.00 375.00 550.00 200.00 375.00 1,956.00 200.00 150.00 1,956.00 150.00 157.60 107.701.00 +++++++++++++ ###### 157.60 Trial Balance Adjusting Entries Income Statement Statement of Stockholder Equity Balance ... + u + 60%
