Milestone 1_CourseProject_ACCT212_Danny Diaz (1) - Excel Danny Diaz DD - 0 x Draw P age Layout Formulas Data Review View Help Tell me what you want to do Share General Oyn E a Wrap Text Merge & Center - General 7 1 Autosum AT SSR- File Home Insert Cut e Copy Paste Format Painter Clipboard D6 - X O E $ - % , 8.09 Insert Delete Format Century Gothic v 11 VA A === BIU. D. A, EEE Font El for Conditional Format as Cell Formatting Table Styles Styles AutoSum-A Fill- Sort & Find & Clear Filter - Select Editing Alignment Number Cells The Course Project consists of 10 Requirements for you to complete. Part 1 of the Course Project is due at the end of Week 4 and Part 2 at the end of Week 6. See the Syllabus section "Due Dates for Assignments & Exams" for due date information. All of the information you need to complete the Course Project is located in this Workbook. . There are eight worksheets in the workbook you will need to complete. A list of July transactions A Chart of Accounts reference sheet A Grading Rubric to help explain what is expected. Each worksheet has the Check Figures embedded as a comment. UN Scenario You've just secured a new client in your accounting practice, Peter's Pool Corporation (PPC), a brand new small business specializing in pool service. The owner, Peter Peck, is a terrific swimmer and pool repair specialist, but definitely not an accountant. Your job is to help Peter put his affairs in order. Luckily, Peter has only been in operation for a month and things have not gotten too out of hand yet! Peter has to submit his financial statements to his investors and doesn't know where to begin. It's your job to go through the complete Accounting cycle to prepare the financial statements for the PPC. Requirements ... Project Instructions July Transactions Chart of Accounts 1 - Journal Entries 2 - General Ledger 3 - Trial Balance 4&5 Adjusting Entries 6 - Adjusted TB @ J Ready she ... - A W + 100% Type here to search o e __ 2:22 PM 4/5/2020 @ w 9x A A 4 Milestone 1 Course Project_ACCT212_DannyDiaz (1) - Excel Table Tools Danny Diaz DD - SR File Home Insert Cut X Share Draw Page Layout Formulas Data Review View Help Design Tell me what you want to do on General y General D x Century Gothic V 11 VA A B I U - D- A p | === E S S ab Wrap Text Merge & Center - 4 AutoSum Ee Copy 47 0 Paste E Format Painter $ - % , 8.09 Conditional Format as Cell Formatting* Table Styles Insert Delete Format AutoSum-A Fill- Sort & Find & Clear Filter - Select Editing Clipboard Font Alignment Number Cells Purchased repair equipment from Paul's Pool Equipment Company, $7,800. Paid $600 down and the balance was placed on account. Date July 1 July 1 July 1 July 6 Transaction Description Began business by making a deposit in a company bank account of $40,000, in exchange for 4,000 shares of $10 par value common stock. Paid the premium on a l-year insurance policy. $4,800. Paid the current month's store rent expense, $3,600 Purchased repair equipment from Paul's Pool Equipment Company, $7,800. Paid $600 down and the balance was placed on account. Purchased repair supplies from Mary's Repair Company on credit, $450. Paid telephone bill, $300. Cash pool service revenue for the first third of July, $2,650. July 8 July 10 July 11 July 18 July 20 Made payment to Mary's Repair Company, $300. Cash pool service revenue for the second third of July, $4,000. Cash pool service revenue for the last third of July, $2,250. July 31 July 31 July 31 Paid the current month's electric bill, $500. Declared and paid cash dividend of $1,100. ... Project Instructions July Transactions Chart of Accounts 1 - Journal Entries 2 - General Ledger 3 - Trial Balance 48.5 Adjusting Entries I D 6 - Adjusted TB @ J Sh... - Ready + 100% Type here to search o e w 9x 2:22 PM 4/5/2020 4 Milestone 1_CourseProject_ACCT212_Danny Diaz (1) - Excel Danny Diaz DD - 0 x Review View Help Tell me what you want to do Share ESSE File Home Insert Draw P age Layout Formulas Data Cut Arial v10 VA A === e Copy Paste B IU , D - - A- Format Painter E E Clipboard Font General Oyn EEE a Wrap Text Merge & Center - General v H D * * Autosum As $ - % , 8.09 Insert Delete Format Conditional Format as Cell Formatting Table Styles Styles AutoSum-A Fill- Sort & Find & Clear Filter - Select Editing Alignment Number Cells P14 4 A C / D REQUIREMENT #6: Prepare an Adjusted Trial Balance in the space below. E F G H I J K L M N O LA Peter's Pool Corporation Adjusted Trial Balance July 31 Account Title Only enter accounts that have a balance. 3 Account 4 Number Balance Debit Credit 18 19 20 ... Project Instructions July Transactions Chart of Accounts 1 - Journal Entries 2 - General Ledger 3 - Trial Balance 4&5 Adjusting Entries 6 - Adjusted TB She ... Ready + -_ 2:24 PM 4/5/2020 + 100% Type here to search o e @ w 9x 4 Danny Diaz DD - 0 x Share General v H D * * Autosum As Insert Delete Format Sofia Milestone 1_CourseProject_ACCT212_Danny Diaz (1) - Excel File Home Insert Draw P age Layout Formulas Data Review View Help Tell me what you want to do Cut Century Gothie V 10 V A A === Wrap Text General e Copy Paste B IU , D - - A- EEE EEE Merge & Center - $ - % Format Painter , 8.09 Conditional Format as Cell Formatting Table Styles Clipboard Font B Alignment 5 Number E17 - X fic A B C D Requirement #7: Prepare the financial statements for Peter's Pool Corporation as of July 31 in the space below. You will only be preparing the Income Statement, Statement of Retained Earnings, and the Balance Sheet. 1 The Statement of Cash Flows is a required Financial Statement, but is not required for this project. AutoSum-A Fill- Sort & Find & Clear Filter - Select Editing Cells I J K L M N A Peter's Pool Corporation Income Statement For the Month Ending July 31 Peter's Pool Corporation Statement of Retained Earnings For the Month Ending July 31 Peter's Pool Corporation Balance Sheet July 31 Retained Earnings, July 1 Add: Net Income Subtotal Less : Dividends Retained Earnings, July 31 Assets: Cash Repair Supplies Prepaid Insurance Repair Equipment Less: Accum. Dep - Repair Equipment. Total Assets 8 Revenues: 9 Pool Repair Revenue 10 Total Revenue 11 12 Expenses: 13 Store Rent Expense 14 Telephone Expense 15 Insurance Expense 16 Repair Supplies Exp. 17 Depreciation Exp. 18 Income Tax Expense 19 Electric Expense 20 Total Expenses 21 22 Net Income Liabilities and Stockholders' Equity Liabilities: Accounts Payable Income Taxes Payable Total Liabilities Stockholders' Equity: ... Chart of Accounts 1 - Journal Entries | 2 - General Ledger 3 - Trial Balance 4&5 Adjusting Entries 6 - Adjusted TB 7 - Financial Statements 8&9- Closing Entries ... Ready + 100% __ 2:24 PM 4/5/2020 Type here to search w ox Milestone 1_CourseProject_ACCT212_Danny Diaz (1) - Excel Danny Diaz DD - 0 x Data Review View Help Tell me what you want to do Share Sofia File Home Insert Draw P age Layout Formulas Cut Century Gothie V 10 V A A e Copy Paste BIU . P. Format Painter A. Clipboard Font General === E Wrap Text Merge & Center - General 7 1 Autosum AT O E E $ -% 8. Insert Delete Format Conditional Format as Cell Formatting Table Styles Styles AutoSum-A Fill- Sort & Find & Clear Filter - Select Editing Alignment Number Cells F17 C I I J K L M N A 1 B . Peter's Pool Corporation Income Statement For the Month Ending July 31 E Peter's Pool Corporation Statement of Retained Earnings For the Month Ending July 31 Peter's Pool Corporation Balance Sheet July 31 Retained Earnings, July 1 Add: Net Income Subtotal Less : Dividends Retained Earnings, July 31 Assets: Cash Repair Supplies Prepaid Insurance Repair Equipment Less: Accum. Dep - Repair Equipment. Total Assets 8 Revenues: 9 Pool Repair Revenue 10 Total Revenue 11 12 Expenses: 13 Store Rent Expense 14 Telephone Expense 15 Insurance Expense 16 Repair Supplies Exp. 17 Depreciation Exp. 18 Income Tax Expense 19 Electric Expense 20 Total Expenses 21 Net Income Liabilities and Stockholders' Equity Liabilities: Accounts Payable Income Taxes Payable Total Liabilities Stockholders' Equity: Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders' Equity ... Chart of Accounts 1 - Journal Entries 2 - General Ledger | 3 - Trial Balance 4&5 Adjusting Entries 16 - Adjusted TB 7 - Financial Statements - Ready 8&9- Closing Entries ... @ -- + 100% - 2:24 PM 4/5/2020 Type here to search E4 SSR Milestone 1 Course Project_ACCT212_DannyDiaz (1) - Excel Table Tools Danny Diaz DD - X Share Draw Page Layout Formulas Data Review View Help Design Tell me what you want to do Din File Home Insert Cut e Copy Paste Format Painter Clipboard General y 1 p x * Autosum ab Wrap Text Merge & Center - A Century Gothic v 10 B I U - - Font VA A A B E S E General $ - % , Number 8.09 Insert Delete Format Conditional Format as Cell Formatting Table Styles Styles AutoSum-A Fill- Sort & Find & Clear Filter Select Editing Alignment Cells F G H I J K L M N LA C15 X for 4 D E Requirement #8: Prepare the closing entries at July 31 in the General Journal below. Hint: Use the balances for each account which appear on the Adjusted Trial Balance for your closing entries. Requirement #9: Post the closing entries to the T-Accounts on the General Ledger (Step 2) worksheet and compute ending balances. Just add to the adjusted balances already listed. General Journal Account Number from Chart of Accounts | tab Date Account Title from Chart of Accounts tab Debit Credit 12 See the Week 2 Lecture for how to complete closing entries. 7 - Financial Statements 889. Closing Entries 12 1 - Journal Entries 2 - General Ledger | 3 - Trial Balance 4&5 Adjusting Entries 6 - Adjusted TB Ready 10- Post Closing ... + 0 -_ _ + 100% 2:24 PM 4/5/20204 Type here to search SSR Milestone 1 Course Project_ACCT212_DannyDiaz (1) - Excel Table Tools Danny Diaz DD - X Share File Home Insert Draw Page Layout Formulas Data Review View Help Design Tell me what you want to do Cut e Copy Paste Din Custom Custom v x Century Gothic v 10 VA A BI U - 19 - DA p * ab Wrap Text Merge & Center - Autosum A Insert Delete Format Format Painter Clipboard $ - % , 99 Numbers AutoSum-A Fill- Sort & Find & Clear Filter - Select Editing Conditional Format as Cell Formatting Table Styles Styles Font Alignment Cells D5 x for | C D Requirement #10: Prepare a post-closing trial balance as of July 31 in the space below. E F G H I J K L M N O A 2 Peter's Pool Corporation Post-Closing Trial Balance July 31 Account Title 3 Account 4 Number Balance Debit Credit 19 20 ... 2 - General Ledger 3 - Trial Balance 4&5 Adjusting Entries 6 - Adjusted TB 7 - Financial Statements 8&9- Closing Entries D 10- Post Closing Trial Balance @ J Gradi ... - Ready + C _ 2:24 PM 4/5/2020 + 100% Type here to search o e @ w 9x E4 Milestone 1_CourseProject_ACCT212_Danny Diaz (1) - Excel Danny Diaz DD - 0 x Draw P age Layout Formulas Data Review View Help Tell me what you want to do Share General Oyn E a Wrap Text Merge & Center - General 7 1 Autosum AT SSR- File Home Insert Cut e Copy Paste Format Painter Clipboard D6 - X O E $ - % , 8.09 Insert Delete Format Century Gothic v 11 VA A === BIU. D. A, EEE Font El for Conditional Format as Cell Formatting Table Styles Styles AutoSum-A Fill- Sort & Find & Clear Filter - Select Editing Alignment Number Cells The Course Project consists of 10 Requirements for you to complete. Part 1 of the Course Project is due at the end of Week 4 and Part 2 at the end of Week 6. See the Syllabus section "Due Dates for Assignments & Exams" for due date information. All of the information you need to complete the Course Project is located in this Workbook. . There are eight worksheets in the workbook you will need to complete. A list of July transactions A Chart of Accounts reference sheet A Grading Rubric to help explain what is expected. Each worksheet has the Check Figures embedded as a comment. UN Scenario You've just secured a new client in your accounting practice, Peter's Pool Corporation (PPC), a brand new small business specializing in pool service. The owner, Peter Peck, is a terrific swimmer and pool repair specialist, but definitely not an accountant. Your job is to help Peter put his affairs in order. Luckily, Peter has only been in operation for a month and things have not gotten too out of hand yet! Peter has to submit his financial statements to his investors and doesn't know where to begin. It's your job to go through the complete Accounting cycle to prepare the financial statements for the PPC. Requirements ... Project Instructions July Transactions Chart of Accounts 1 - Journal Entries 2 - General Ledger 3 - Trial Balance 4&5 Adjusting Entries 6 - Adjusted TB @ J Ready she ... - A W + 100% Type here to search o e __ 2:22 PM 4/5/2020 @ w 9x A A 4 Milestone 1 Course Project_ACCT212_DannyDiaz (1) - Excel Table Tools Danny Diaz DD - SR File Home Insert Cut X Share Draw Page Layout Formulas Data Review View Help Design Tell me what you want to do on General y General D x Century Gothic V 11 VA A B I U - D- A p | === E S S ab Wrap Text Merge & Center - 4 AutoSum Ee Copy 47 0 Paste E Format Painter $ - % , 8.09 Conditional Format as Cell Formatting* Table Styles Insert Delete Format AutoSum-A Fill- Sort & Find & Clear Filter - Select Editing Clipboard Font Alignment Number Cells Purchased repair equipment from Paul's Pool Equipment Company, $7,800. Paid $600 down and the balance was placed on account. Date July 1 July 1 July 1 July 6 Transaction Description Began business by making a deposit in a company bank account of $40,000, in exchange for 4,000 shares of $10 par value common stock. Paid the premium on a l-year insurance policy. $4,800. Paid the current month's store rent expense, $3,600 Purchased repair equipment from Paul's Pool Equipment Company, $7,800. Paid $600 down and the balance was placed on account. Purchased repair supplies from Mary's Repair Company on credit, $450. Paid telephone bill, $300. Cash pool service revenue for the first third of July, $2,650. July 8 July 10 July 11 July 18 July 20 Made payment to Mary's Repair Company, $300. Cash pool service revenue for the second third of July, $4,000. Cash pool service revenue for the last third of July, $2,250. July 31 July 31 July 31 Paid the current month's electric bill, $500. Declared and paid cash dividend of $1,100. ... Project Instructions July Transactions Chart of Accounts 1 - Journal Entries 2 - General Ledger 3 - Trial Balance 48.5 Adjusting Entries I D 6 - Adjusted TB @ J Sh... - Ready + 100% Type here to search o e w 9x 2:22 PM 4/5/2020 4 Milestone 1_CourseProject_ACCT212_Danny Diaz (1) - Excel Danny Diaz DD - 0 x Review View Help Tell me what you want to do Share ESSE File Home Insert Draw P age Layout Formulas Data Cut Arial v10 VA A === e Copy Paste B IU , D - - A- Format Painter E E Clipboard Font General Oyn EEE a Wrap Text Merge & Center - General v H D * * Autosum As $ - % , 8.09 Insert Delete Format Conditional Format as Cell Formatting Table Styles Styles AutoSum-A Fill- Sort & Find & Clear Filter - Select Editing Alignment Number Cells P14 4 A C / D REQUIREMENT #6: Prepare an Adjusted Trial Balance in the space below. E F G H I J K L M N O LA Peter's Pool Corporation Adjusted Trial Balance July 31 Account Title Only enter accounts that have a balance. 3 Account 4 Number Balance Debit Credit 18 19 20 ... Project Instructions July Transactions Chart of Accounts 1 - Journal Entries 2 - General Ledger 3 - Trial Balance 4&5 Adjusting Entries 6 - Adjusted TB She ... Ready + -_ 2:24 PM 4/5/2020 + 100% Type here to search o e @ w 9x 4 Danny Diaz DD - 0 x Share General v H D * * Autosum As Insert Delete Format Sofia Milestone 1_CourseProject_ACCT212_Danny Diaz (1) - Excel File Home Insert Draw P age Layout Formulas Data Review View Help Tell me what you want to do Cut Century Gothie V 10 V A A === Wrap Text General e Copy Paste B IU , D - - A- EEE EEE Merge & Center - $ - % Format Painter , 8.09 Conditional Format as Cell Formatting Table Styles Clipboard Font B Alignment 5 Number E17 - X fic A B C D Requirement #7: Prepare the financial statements for Peter's Pool Corporation as of July 31 in the space below. You will only be preparing the Income Statement, Statement of Retained Earnings, and the Balance Sheet. 1 The Statement of Cash Flows is a required Financial Statement, but is not required for this project. AutoSum-A Fill- Sort & Find & Clear Filter - Select Editing Cells I J K L M N A Peter's Pool Corporation Income Statement For the Month Ending July 31 Peter's Pool Corporation Statement of Retained Earnings For the Month Ending July 31 Peter's Pool Corporation Balance Sheet July 31 Retained Earnings, July 1 Add: Net Income Subtotal Less : Dividends Retained Earnings, July 31 Assets: Cash Repair Supplies Prepaid Insurance Repair Equipment Less: Accum. Dep - Repair Equipment. Total Assets 8 Revenues: 9 Pool Repair Revenue 10 Total Revenue 11 12 Expenses: 13 Store Rent Expense 14 Telephone Expense 15 Insurance Expense 16 Repair Supplies Exp. 17 Depreciation Exp. 18 Income Tax Expense 19 Electric Expense 20 Total Expenses 21 22 Net Income Liabilities and Stockholders' Equity Liabilities: Accounts Payable Income Taxes Payable Total Liabilities Stockholders' Equity: ... Chart of Accounts 1 - Journal Entries | 2 - General Ledger 3 - Trial Balance 4&5 Adjusting Entries 6 - Adjusted TB 7 - Financial Statements 8&9- Closing Entries ... Ready + 100% __ 2:24 PM 4/5/2020 Type here to search w ox Milestone 1_CourseProject_ACCT212_Danny Diaz (1) - Excel Danny Diaz DD - 0 x Data Review View Help Tell me what you want to do Share Sofia File Home Insert Draw P age Layout Formulas Cut Century Gothie V 10 V A A e Copy Paste BIU . P. Format Painter A. Clipboard Font General === E Wrap Text Merge & Center - General 7 1 Autosum AT O E E $ -% 8. Insert Delete Format Conditional Format as Cell Formatting Table Styles Styles AutoSum-A Fill- Sort & Find & Clear Filter - Select Editing Alignment Number Cells F17 C I I J K L M N A 1 B . Peter's Pool Corporation Income Statement For the Month Ending July 31 E Peter's Pool Corporation Statement of Retained Earnings For the Month Ending July 31 Peter's Pool Corporation Balance Sheet July 31 Retained Earnings, July 1 Add: Net Income Subtotal Less : Dividends Retained Earnings, July 31 Assets: Cash Repair Supplies Prepaid Insurance Repair Equipment Less: Accum. Dep - Repair Equipment. Total Assets 8 Revenues: 9 Pool Repair Revenue 10 Total Revenue 11 12 Expenses: 13 Store Rent Expense 14 Telephone Expense 15 Insurance Expense 16 Repair Supplies Exp. 17 Depreciation Exp. 18 Income Tax Expense 19 Electric Expense 20 Total Expenses 21 Net Income Liabilities and Stockholders' Equity Liabilities: Accounts Payable Income Taxes Payable Total Liabilities Stockholders' Equity: Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders' Equity ... Chart of Accounts 1 - Journal Entries 2 - General Ledger | 3 - Trial Balance 4&5 Adjusting Entries 16 - Adjusted TB 7 - Financial Statements - Ready 8&9- Closing Entries ... @ -- + 100% - 2:24 PM 4/5/2020 Type here to search E4 SSR Milestone 1 Course Project_ACCT212_DannyDiaz (1) - Excel Table Tools Danny Diaz DD - X Share Draw Page Layout Formulas Data Review View Help Design Tell me what you want to do Din File Home Insert Cut e Copy Paste Format Painter Clipboard General y 1 p x * Autosum ab Wrap Text Merge & Center - A Century Gothic v 10 B I U - - Font VA A A B E S E General $ - % , Number 8.09 Insert Delete Format Conditional Format as Cell Formatting Table Styles Styles AutoSum-A Fill- Sort & Find & Clear Filter Select Editing Alignment Cells F G H I J K L M N LA C15 X for 4 D E Requirement #8: Prepare the closing entries at July 31 in the General Journal below. Hint: Use the balances for each account which appear on the Adjusted Trial Balance for your closing entries. Requirement #9: Post the closing entries to the T-Accounts on the General Ledger (Step 2) worksheet and compute ending balances. Just add to the adjusted balances already listed. General Journal Account Number from Chart of Accounts | tab Date Account Title from Chart of Accounts tab Debit Credit 12 See the Week 2 Lecture for how to complete closing entries. 7 - Financial Statements 889. Closing Entries 12 1 - Journal Entries 2 - General Ledger | 3 - Trial Balance 4&5 Adjusting Entries 6 - Adjusted TB Ready 10- Post Closing ... + 0 -_ _ + 100% 2:24 PM 4/5/20204 Type here to search SSR Milestone 1 Course Project_ACCT212_DannyDiaz (1) - Excel Table Tools Danny Diaz DD - X Share File Home Insert Draw Page Layout Formulas Data Review View Help Design Tell me what you want to do Cut e Copy Paste Din Custom Custom v x Century Gothic v 10 VA A BI U - 19 - DA p * ab Wrap Text Merge & Center - Autosum A Insert Delete Format Format Painter Clipboard $ - % , 99 Numbers AutoSum-A Fill- Sort & Find & Clear Filter - Select Editing Conditional Format as Cell Formatting Table Styles Styles Font Alignment Cells D5 x for | C D Requirement #10: Prepare a post-closing trial balance as of July 31 in the space below. E F G H I J K L M N O A 2 Peter's Pool Corporation Post-Closing Trial Balance July 31 Account Title 3 Account 4 Number Balance Debit Credit 19 20 ... 2 - General Ledger 3 - Trial Balance 4&5 Adjusting Entries 6 - Adjusted TB 7 - Financial Statements 8&9- Closing Entries D 10- Post Closing Trial Balance @ J Gradi ... - Ready + C _ 2:24 PM 4/5/2020 + 100% Type here to search o e @ w 9x E4