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Microsoft Excel File Edit View Insert Format Tools Data Window Help @ 0 0 AutoSave OFF * . Student fill - in template Final pt

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Student fill-in template Final pt 1 T Seitz graded
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1 The Equipment was purchased Jan. 1 two years ago It has a useful life of 5 years
2 The prepaid insurance was purchased Oct. 1st It is a 6 month policy. No adjustments have been made.
3 The unearned revenue was prepaid by Roman Inc. on Oct. 1st and covers 6 months of work. No adjustments have been made.
Student fill-in template Fin:
Accounting...
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Accounting 101 project
This project will be completed in two parts. All answers should be submitted in the Excel template attached to this module. Part 1 contains an opening trial balance, list of business transactions, journaling all transactions into the general journal (including the adjusting entries), and updating each account in the T-Accts (general ledger). Upon submission, your instructor will indicate which journal entries and/or T-Acct entries are incorrect.
Part 2 will have you correct any mistakes and then complete the project. The remaining parts of the project include preparing the adjusted tffial balance, income statement, statement of retained earnings, balance sheet, closing entries, and post-closing trial balance.
December business transactions
Dec. 1st- Collected $623 from Franklin from a previous engagement in Oct.
Dec. 2nd- Paid $1,590 on Gusto's Inc. invoice from a previously recorded transaction with check #1301.
Dec 3rd- Paid December rent of $2,250 with check #1302.
Dec 4th- Completed additional work for Washington, sent invoice #Y77P for $1,523 due in 1 month.
Dec. 5th- Paid employee from work previously expensed in Nov. with payment due Dec. 5th using check #1303.
Dec. 8th- Purchased land on a note for $23,945 to be used for future construction of a new office building.
Land and Notes payable will have account numbers of 150 and 240, respectively.
Dec. 9th- Paid $1,450 to cover all utilities for the month of Dec using check #1304.
Dec. 10th- Completed $630 worth of work for a repeat customer who pays cash immediately upon completion.
Accounting... (i)()
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Dec. 10th- Completed $630 worth of work for a repeat customer who pays cash immediately upon completion.
Dec. 11th- Collected $874 from Washington from a previous engagement in Nov.
Dec. 12th- Our employee earned two weeks of pay amounting to $1,694, to be paid Dec. 23rd.
Dec. 15th- Leah Tyler, the owner, withdrew $3,425 for personal use using check #1305.
Dec. 16th- Completed a large job for Franklin for $12,940. Sent invoice #Y78P due Jan. 31st.
Dec. 22nd- Franklin paid $2,473 to pay off some of his balance due.
Dec. 23rd- Paid our employee for the work expensed Dec. 12th.
Dec 24th- Dec. 31st- Owner took off the rest of the year.
Adjustments (due with Part 1)
The equipment was used for the third year.
Prepaid insurance was adjusted for Oct-Dec usage.
Unearned revenue was updated to show 3 months of work completed.
A final count of supplies showed $311 remaining.
Accounting...
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2. Prepaid insurance was adjusted for Oct-Dec usage.
3. Unearned revenue was updated to show 3 months of work completed.
4. A final count of supplies showed $311 remaining.
Part 1 instructions
Open the Excel attachment named "Student fill-in template".
Transfer the opening trial balance amounts to the T-Accts.
Journal and post to the T-Accts the December and adjusting transactions.
Total each T-Acct and provide the equation total at the top in the highlighted cells.
Check Figure - The cash T-Acct
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