Part One Instructions

Record the January $2024$ transactions, as journal entries, in an Excel Spreadsheet. An example of an Excel spreadsheet follows the transactions below. No explanation is required for the journal entries. Instead of recording the names of the accounts use the corresponding account numbers in the chart of accounts. Prepare the journal entries as shown in an Excel Template Spreadsheet following the transactions below. Once you have written all the journal entries in the Excel Template Spreadsheet, you will use the template spreadsheet to enter the information into Blackboard for a grade. Once you are finished entering the journal entries into Blackboard, you will upload your Excel Template Spreadsheet into Blackboard. Here are the instructions to turn in the documents for each part of the practice set:

Step $1$: Enter the journal entries into the Excel Template spreadsheet and when completed print it out. Save your completed template to your computer where you can access it later to upload.

Step $2$: Use the Excel Template Spreadsheet to answer the questions in Blackboard for the corresponding week in the content folder.

Step $3$: Once you complete entering information into Blackboard, upload the template spreadsheet into Blackboard by clicking on the navigation pane then clicking on Practice Set.

Transactions

$\backslash$table$[[,$Date,$\backslash$table$[[$Deposit No$.],[/$ Check No$.]],$Description$],[1.,\frac{1}{02}\frac{?}{24},,\backslash$table$[[$Carla Cannel met with her lawyer and CPA for advice on starting the$],[$business$.$ They decided that Ms$.$ Cannel would organize the$],[$business as a corporation. The lawyer told Ms$.$ Cannel to register$],[$the company name, Carla's Candles, Inc., with the County of El Paso.$],[$In addition, Ms$.$ Cannel will get an employer identification number$],[($EIN$)$ from the Internal Revenue Service and get a sales tax permit$],[$from the state of Texas. The lawyer agreed to prepare the Articles$],[$of Incorporation to be filed with the Secretary of State of Texas.$],[$The CPA has agreed to help Ms$.$ Cannel set up her accounting$],[$system$.]]],[2.,\frac{1}{02}\frac{?}{24},$Deposit #$1,\backslash$table$[[$Ms$.$ Cannel opened a business checking account at Wells Fargo Bank$],[$by depositing the personal check she gave her company for$],[$$$40,000.$ The corporation issued her a stock certificate for $4,000],[$shares of common stock.$]]],[3.,\frac{1}{03}\frac{?}{24},$Ck #$1001,\backslash$table$[[$Ms$.$ Cannel signed a one$-$year rental agreement with Reynolds$],[$Realtors for shop space. She was required to pay $$3,000$ for rent for$],[$the months of January $1,2024-$ March $31,2024.]]]]$