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I need help with this excelaccounting project. I have attached theproject below. I would appreciate it, thank you! Date 1-Sep 2-Sep 3-Sep 5-Sep 8-Sep 15-Sep

I need help with this excelaccounting project. I have attached theproject below. I would appreciate it, thank you!

image text in transcribed Date 1-Sep 2-Sep 3-Sep 5-Sep 8-Sep 15-Sep 20-Sep 21-Sep 25-Sep 27-Sep 29-Sep 30-Sep 30-Sep 30-Sep 30-Sep 30-Sep 30-Sep 30-Sep 30-Sep 30-Sep 1 2 3 4 5 6 7 8 9 10 ACC 3010 PROJECT 1 WINTER 2017 DUE February 3 by 8pm submitted to the assignment link in Blackboard You have been hired as an accountant for FigMint Consulting Inc. This business was created when some friends decided to make use of their newly minted college degrees and go into business together. The business was created on September 1, 2016. The company will have a fiscal year end of August 31st. The initial formation transactions and early purchases for FigMint Consulting Inc. resulted in the balances that are included in the first 2 columns of the Worksheet. (see the worksheet tab) During September, the first month of operations, the following transactions occurred: Event Paid $10,800 for 12 months rent on office space Purchased office furniture for $11,650. Purchased $13,950 of additional office supplies on account. Signed a contract with Imagine Inc. for work to be done over the next 12 months Borrowed 40,000 from the bank for operating cash. The note has a 3% interest rate (simple interest) and is to be paid back in 4 years Received $26,400 from Imagine Inc. for the work to be performed over the next 12 months. Paid $1,560 for maintenance on the equipment. Performed services for various customers for $16,200 cash and another $20,100 on account. Paid $9,750 to suppliers for purchases previously made on account. Paid salaries to employees totaling $6,800 for services rendered for 1 week. Paid utility bill totaling $1,790. Collected $16,700 as payment for amounts previously billed. Dividends of $2,000 were declared and paid. At the end of September, the following additional information is available to help determine what adjustments are needed: One month of interest has accrued on the note payable for the bank loan. Salaries of $6,800 are paid every Friday (for a 5 day work week). September 30, 2016 was a Thursday. One month of the prepaid rent has been used up Supplies on hand are $10,300. Additional work for customers of $11,680 has been performed during the last week of September but not yet billed Depreciation expense for the computer equipment is $280 and for the office furniture is $190 One month of the services for the Imagine Inc. has been performed (see above). SUGGESTED STEPS FOR COMPLETION OF THE PROJECT: Prepare journal entries to record the September transactions given. Please refer to the Worksheet tab for Account Title Post the journal entries to ledger accounts using T-accounts to represent ledger accounts. Don't forget the opening balances from the information given on the Worksheet. There is a tab to use for T Accounts if you want Add the September journal entry information to the Worksheet in the September columns Prepare an unadjusted trial balance as of September 30, 2016. This will be part of the Worksheet you prepare. There i tab in this file that you will use for this. Excel formulas must be used throughout the project to obtain full credit. Prepare adjusting entries for the month of September given the information provided. Post the adjusting entries to the T-accounts and to the Adjusting entries columns on the worksheet Prepare an adjusted trial balance as of September 30, 2016. This will be part of the Worksheet you prepare. There is a tab in this file that you will use for this. Prepare financial statements for the month of September 30, 2016. (Income Statement, Statement of Retained Earning Classified Balance Sheet ). Formatting is important and will be graded so be sure you use dollar signs and underlines appropriate. Also be sure you have headings and proper column usage for all statements. There is a tab for these statements. Heading are PARTIALLY completed for the 3 statements. Prepare and post closing entries for the end of the period and to the T Accounts Copy the Worksheet from the Worksheet tab to the Worksheet formulas tab and the Financial Statements from the Financial Statements tab to the Financial Statements tab. Highlight the entire worksheet/financial statements area respecively and press the "ctrl" key and the "~" key. This will cause the formulas used to display instead of the numbers. Save your file with the formulas displayed. REQUIRED TO BE SUBMITTED - You must submit your excel file which must include all Journal entries, tr balances, the worksheet and the financial statements to the correct assignments link on the class Blackboard si by 8 pm Saturday February 3. Your file must be named - "Your name (first and last) Project 1". Failure to nam your file correctly will result in a 1 point deduction. Each student must submit an ORIGINAL excel file that is their own work. While students are encouraged to work together, each student must process and format his/her own set of excel worksheets. Duplicate submissio (format, not numbers) will result in the students receiving a 0 for the assignment. Submissions will NOT be accepted via email attachment. Submission to other than the correct link on BlackBoard will result in a 5 point deduction. NO LATE SUBMISSIONS WILL BE ACCEPTED. JOURNAL ENTRIES - FigMint Consulting Inc DATE ACCOUNT DEBIT Page 2 CREDIT Page 2 ADJUSTING JOURNAL ENTRIES - FigMint Consulting Inc DATE ACCOUNT DEBIT Page 3 CREDIT CLOSING JOURNAL ENTRIES -FigMint Consulting Inc DATE ACCOUNT DEBIT Page 4 CREDIT Page 4 ACCOUNT Cash BEGINNING NUMBERS September ENTRIES DEBIT CREDIT DEBIT CREDIT UNADJUSTED TRIAL BALANCE DEBIT CREDIT 303,500 Accounts Receivable Supplies 9,750 Prepaid Rent Land 50,000 Computer Equipment 46,500 Accumulated Depreciation, Comp Equip Office Furniture Accumulated Depreciation, Off Furn Accounts Payable 9,750 Salaries Payable Interest Payable Unearned Revenue Long-term Notes Payable Common Stock 400,000 Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Supplies Expense Maintenance Expense Utilities Expense Interest Expense Depreciation Expense, Comp Equip Depreciation Expense, Office Furniture Net Income 409,750 409,750 Page 9 ADJUSTMENTS DEBIT CREDIT ADJUSTED TRIAL BALANCE DEBIT CREDIT FigMint Consulting Inc Income Statement FigMint Consulting Inc Statement of Retained Earnings FigMint Consulting Inc Balance Sheet

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