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138% 1 10:14 PM Mon Apr 25 SP22 Comprehensive Project 2 v1 XLSX - 47 KB Instructions Data Trial Balance Transactions ENTERANSWERS1 ENTERANSWERS ENTERANSWERS3 U ENTERANSWERS4 Comprehensive Project 2 Using Excel to journalize and post transactions, and to create financial statements Cougar Mountain Spers has recorded some transactions that occurred during August. In addition, adj.sting entries for month were recorded as wel, Recard al normal transactions and adjusting transactions at the same time and camolete ane adjusted Iria balance Requirements: 1. Cougar Mountain Sports employs three employees, and pays time-and-a-hal for overtime. Monthly paychecks are distributed on the Friday following the last day of the month. The company withholds federal income tax (18%), state income tax 175.), FICA- CASDI 6.2.xor wages up to $118.500, and FICA-Medicare (1.45%. The company also pays payroltaves for FICA-OSOI 16.2%) for wages up to $118.500. FICA--Medicare (1.45%), and state and federal unemployment (54% and 0.6% respectively for wages up to $7.00. August 2024 has 22 working days. The payrol data for the treeployees for the month ended August 31 folos Namo John Doe Muka Aer Smile Straight Hours Time Rad worked $34 184 16 186 21|_ 190 Beginning Cumulative Eaming S46.000 $3,200 $28,300 a. Complete re Payroll Register for the free employees for the week anded August 31, 2024. Format to two decimal places b. b. Complete the Payroll Tax Register Compute the total payrol expense for the month ended August 31. Format to two decimal places d. Record the payroll entries to accrue the payrol at the end of August for each of the following: use all references to the payrol and tax registers for the amounts Wage expense related to the three smacys an AUGUST 31 Employer payroles related to the three employees or August 31. 2. Use Excel to journalize in the ENTERANSWERS worksheet the payrol entries indicated above and the addisional transactions given in the transaction worksheet. Use the bike shaded are for irouts Adusong entregadh) 3. Peat the joumal entries to the T-accounts Use the blue shadedre for inges. The T-account toals will not be call automatically Beginning balances have already been possed to the l-accounts. Add your journal entries to the amounts already posted in the accounts. Do not delete or omiary of the amounts already Isted in the accounts. 4. Pol the account balances to the Trial Balance. Use the blue shaded areas for inputs. Taccount balances will not automatically populate the trial balance so cel references must be created in the trial balance to bring in those balances. 5. Prepare the income statement, statement of recained earnings and balance sheet for the company using the trial balance amounts. Each financial statement appears on a separate worksheet tal. Create bell references to populare information in the Francal stateme Filin the blue shaded areas in the financial statements using a formula or cel reference that reference the account balances in the trial balance or a prur financial statement Saving & Submitting Chapter Excel Assignments 1. Save the a. You may want to create folder en desktop and la COMPLETED EXCEL PROJECTS Name your Nos Assignment FirstNameliame log CP2 Robyn verdery). 2. Upcad and submt your fe to be graded. a. Cick on "Assessments located on the navigation bar at the top of the page to open the cropdown manu 5. Cick on "Assignments Select the appropriate assignment d. Ulead your Double check you uploaded the night los. 1. Submit them. Open Office Instructions Data Trial Balance Transactions ENTERANSWERS1 ENTERANSWERS2 ENTERANSWE Cougar Mountain Sports Adjusted Trial Balance July 31, 2024 Credit Bulance Debit 168.178 13,490 2.491 556 450 700 3,333.333 ol 45.000 2.700 6.500 2,200 10.000 Account Title Cash Accounts Receivable Merchandise Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Prepaid Rent I and Building Accumulated Depreciation Building Equipment Accumulated Depreciation Equipment Truck Accumulated Depreciation-Truck Accounts Payable Salaries Payable Interest Payable Refund Payable Uncamed Revenue Notes Payable Common Stock Retained Earnings Dividends Service Revenue Sales Revenue Sales Discounts Forfeited Cost of Goods Sold Salaries Expense Rent Expense Utilities Expense Depreciation Expense - Building Depreciation Expense - Equipment Depreciation Expense - Truck Advertising Expense Delivery Expense Supplies Expense Insurance Expense Tunterest Experte Income Tax Expense 133 15,870 3,500 2,610 1,300 20 1.700 43,500 110,000 67,192 250,705,333 250, 705 1938% 10:15 PM Mon Apr 25 SP22 Comprehensive Project 2 v1 XLSX - 47 KB Instructions Data Trial Balance Transactions ENTERANSWERS1 ENTERANSWERS2 1 ENTERANSWE Transactions for August 2024 1 Paid $785 cash for office supplies . 2 Purchased merchandise on account for $835 4 Collected $5,700 cash from customers on account 7 Received a S600 invoice for radio advertising on account 8 Established a petty cash fund for S250. 11 Received $7,350 cash for performing coaching services, 15 Paid previous month's salarios 17 Collected $2,000 in advance for coaching services to be performed later. 20 Completed a large coaching job and billed the customer for $6,575. 22 Received the electric bill and cell phone bill for the business totaling $725. (Credit Accounts Payable) 25 Collected $2,500 cash from customers on account. 27 Sold merchandise to customers for $3,900 on account. The merchandise cost $1,680. . 30 Paid $3,350 on account. 31 Cash dividends of S2,700 were paid to stockholders. a b Adjusting Entries Depreciation method on the truck was changed to the units of production method in August. Depreciation was recorded assuming a useful life of five years, salvage value of $3,000 and estimated miles of 100,000. The truck was used 2,400 miles in August Prepaid Insurance for the month has expired Office Supplies on hand, S545 Unearned Revenue eamed during the month, $1,100. Another month of rent has expired The company records bad debt using the percent of receivables method estimating that 2% of receivables will not be collected. Bad debt is calculated after all regular entries are recorded. Accrued payroll expense for August Accrued payroll tax expense for August d e f 9 h Open Office Instructions Data Trial Balance Transactions ENTERANSWERS1 ENTERANSWERS2 ENTERANSWERS3 ENTERANSWERS4 EN Requirement 1 Complete the Payroll Register for the three employees for the week ended August 31, 2024. Payroll Register Earnings Withholdings Employee Name Medicare OASDI Net Pay Beginning Cumulative Earnings Check No Pay Rate Hours Worked Current Period Earnings Federal State Income Tax Income Tax Regular Pay Overtime Pay Ending Cumulative Earnings Other Totul Withholdings Wages Expense 1.45% 18.00% 7.00% John Dee Mark Hall Alex Smith Tocal 2203 2204 2205 Requirement 2 Complete the Payroll Tax Register for the week ended August 31, 2024. Payroll Tax Register OASDI SUTA Employee Name Earnings Current Beginning Period Cumulative Earnings Earnings Emplover Payroll Taxes Medicare FUTA 1.45% 0.60% Ending Cumulative Earnings 5.40% Total Taxes John Doe Mark Hall Alex Smith Total Requirement 3 Compute the total payroll expense for the week ended August 31 Description Amount Total Gross Pay Payroll Tax Expense Tocal 0 10:15 PM Mon Apr 25 le 1938% SP22 Comprehensive Project 2 v1 XLSX - 47 KB U Instructions Data Trial Balance Transactions ENTERANSWERS1 ENTERANSWERS2 ENTERANSWERS3 ENTERANSWERS4 EN Dale Account and Explanation DR CR Open Office Le 10:15 PM Mon Apr 25 le 1938%. x SP22 Comprehensive Project 2 v1 XLSX - 47 KB Transactions ENTERANSWERS1 ENTERANSWERS2 Instructions Data Trial Balance ENTERANSWERS3 ENTERANSWERS4 E ASSETS LIABILITIES EQUITY Contributed Capital Retained Earnings Debit Credit Check DR CR 2 Cash Accounts Payable Common Stock + Dividends Service Revenue Cost of Goods Sold 0 Salaries Payable Retained Earnings Sales Revenue Saluries Expense 0 Petty Cash Employee Federal Income Taxes Payable Sules Discounts Forfeited Payroll Tax Expense 0 0 Accounts Receivable Employee State Income Taxes Payable Rent Expense Allowance for Bad Debt Federal Unemployment Taxes Payable Utilities Expense D Merchandise Inventory FICA-Medicare Taxes Payable Depreciation Expense Building D FICA--OASDI Taxes Payable Depreciation Expense Equipment Estimated Returns Inventory State Unemployment Tunes Payable Depreciation Expense Truck Office Supplies 0 Open Office 0 Interest Payable Advertising expense Prepaid Insurance FICA-OASDI Taxes Payable Depreciation Expense Equipment Estimated Returns Inventory State Unemployment Taxes Payable Depreciation Expense Truck Office Supplies Interest Payable Advertising Expense Prepaid Insurance Refunds Payable Delivery Expense Prepaid Rent L'oearned Revenus Supplies Expense Land Insurance Expense Building Notes Payable Bad Debt Expense Accumulated Depreciation Building Interest Expense Equipment Income Tax Expense Accumulated Depreciation Equipment Truck Accumulated Depreciation Truck 10:16 PM Mon Apr 25 137% SP22 Comprehensive Project 2 v1 XLSX - 47 KB - Transactions ENTERANSWERS1 ENTERANSWERS2 Instructions Data Trial Balance ENTERANSWERS3 ENTERANSWERS4 E Adjusted Trial Balance Balance Credit Debit Account Title Cash Petly Cash Accounts Receivabla Allowance for Bad Debu Merchandise Inventory Estimated Returns Inventary Office Supplies Prepaid Insurance Prepaid Rem Land Building Accumulated Depreciation Building Equipment Accumulated Depreciation Equipment Track Accumulated Depreciation Truck Avuunts Payable Salaries Payable Employee Federal lacome Txos Payable Employee State Income Taxes Payable Fachtal Umploymsal Taxos Payable FICA Medicare Taxes Payable FICA-OASDI Taxes lavable State Unemployment Taxes Payable Interest Payable Refund Payable Uncanned Rover Notes Payable Common Stock Retained varnings Dividends Service Revenue Sales Revenge Sales Discounts Forfeita Cast of Goods Sold Salas Expense Payroll Tax Expense Rent Expende Utilities Fixpense Deploaie Expense Building Depreciation Expense. Tquipment Deprecation Expense - Truck Advertising Expertise Delivery Expo Supplies Expense Insurance Experts Bad Dalvt Expense erest Expense Income Tax Expense Open Office Le 10:16 PM Mon Apr 25 1937% SP22 Comprehensive Project 2 v1 XLSX - 47 KB U Instructions Data Trial Balance Transactions ENTERANSWERS1 ENTERANSWERS2 ENTERANSWERS3 ENTERANS Income Statement Revenues Total Revenue Operating Expenses: Selling and Administrative Expenses: Total Selling and Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses) Total Other Income and (Expenses) Income Before Income Tax Expense Open Office Le Instructions Data Trial Balance Transactions ENTERANSWERS1 ENTERANSWERS2 ENTERANSWERS3 ENTERANSI Statement of Retnined Earnings 10:16 PM Mon Apr 25 le 1937% U SP22 Comprehensive Project 2 v1 XLSX - 47 KB Transactions ENTERANSWERS1 ENTERANSWERS2 Instructions Data Trial Balance ENTERANSWERS3 ENTERANSI Balance Sheet Liabilities Assets Current Assets Total Current Assets Property, Plant and Equipment Tatal Liabilities Stockholder's Equity Total Property, Plant & Equipment Total Stockholder's Equity Total Asist Total Liabilities and Stockholder's Equity Open Office 138% 1 10:14 PM Mon Apr 25 SP22 Comprehensive Project 2 v1 XLSX - 47 KB Instructions Data Trial Balance Transactions ENTERANSWERS1 ENTERANSWERS ENTERANSWERS3 U ENTERANSWERS4 Comprehensive Project 2 Using Excel to journalize and post transactions, and to create financial statements Cougar Mountain Spers has recorded some transactions that occurred during August. In addition, adj.sting entries for month were recorded as wel, Recard al normal transactions and adjusting transactions at the same time and camolete ane adjusted Iria balance Requirements: 1. Cougar Mountain Sports employs three employees, and pays time-and-a-hal for overtime. Monthly paychecks are distributed on the Friday following the last day of the month. The company withholds federal income tax (18%), state income tax 175.), FICA- CASDI 6.2.xor wages up to $118.500, and FICA-Medicare (1.45%. The company also pays payroltaves for FICA-OSOI 16.2%) for wages up to $118.500. FICA--Medicare (1.45%), and state and federal unemployment (54% and 0.6% respectively for wages up to $7.00. August 2024 has 22 working days. The payrol data for the treeployees for the month ended August 31 folos Namo John Doe Muka Aer Smile Straight Hours Time Rad worked $34 184 16 186 21|_ 190 Beginning Cumulative Eaming S46.000 $3,200 $28,300 a. Complete re Payroll Register for the free employees for the week anded August 31, 2024. Format to two decimal places b. b. Complete the Payroll Tax Register Compute the total payrol expense for the month ended August 31. Format to two decimal places d. Record the payroll entries to accrue the payrol at the end of August for each of the following: use all references to the payrol and tax registers for the amounts Wage expense related to the three smacys an AUGUST 31 Employer payroles related to the three employees or August 31. 2. Use Excel to journalize in the ENTERANSWERS worksheet the payrol entries indicated above and the addisional transactions given in the transaction worksheet. Use the bike shaded are for irouts Adusong entregadh) 3. Peat the joumal entries to the T-accounts Use the blue shadedre for inges. The T-account toals will not be call automatically Beginning balances have already been possed to the l-accounts. Add your journal entries to the amounts already posted in the accounts. Do not delete or omiary of the amounts already Isted in the accounts. 4. Pol the account balances to the Trial Balance. Use the blue shaded areas for inputs. Taccount balances will not automatically populate the trial balance so cel references must be created in the trial balance to bring in those balances. 5. Prepare the income statement, statement of recained earnings and balance sheet for the company using the trial balance amounts. Each financial statement appears on a separate worksheet tal. Create bell references to populare information in the Francal stateme Filin the blue shaded areas in the financial statements using a formula or cel reference that reference the account balances in the trial balance or a prur financial statement Saving & Submitting Chapter Excel Assignments 1. Save the a. You may want to create folder en desktop and la COMPLETED EXCEL PROJECTS Name your Nos Assignment FirstNameliame log CP2 Robyn verdery). 2. Upcad and submt your fe to be graded. a. Cick on "Assessments located on the navigation bar at the top of the page to open the cropdown manu 5. Cick on "Assignments Select the appropriate assignment d. Ulead your Double check you uploaded the night los. 1. Submit them. Open Office Instructions Data Trial Balance Transactions ENTERANSWERS1 ENTERANSWERS2 ENTERANSWE Cougar Mountain Sports Adjusted Trial Balance July 31, 2024 Credit Bulance Debit 168.178 13,490 2.491 556 450 700 3,333.333 ol 45.000 2.700 6.500 2,200 10.000 Account Title Cash Accounts Receivable Merchandise Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Prepaid Rent I and Building Accumulated Depreciation Building Equipment Accumulated Depreciation Equipment Truck Accumulated Depreciation-Truck Accounts Payable Salaries Payable Interest Payable Refund Payable Uncamed Revenue Notes Payable Common Stock Retained Earnings Dividends Service Revenue Sales Revenue Sales Discounts Forfeited Cost of Goods Sold Salaries Expense Rent Expense Utilities Expense Depreciation Expense - Building Depreciation Expense - Equipment Depreciation Expense - Truck Advertising Expense Delivery Expense Supplies Expense Insurance Expense Tunterest Experte Income Tax Expense 133 15,870 3,500 2,610 1,300 20 1.700 43,500 110,000 67,192 250,705,333 250, 705 1938% 10:15 PM Mon Apr 25 SP22 Comprehensive Project 2 v1 XLSX - 47 KB Instructions Data Trial Balance Transactions ENTERANSWERS1 ENTERANSWERS2 1 ENTERANSWE Transactions for August 2024 1 Paid $785 cash for office supplies . 2 Purchased merchandise on account for $835 4 Collected $5,700 cash from customers on account 7 Received a S600 invoice for radio advertising on account 8 Established a petty cash fund for S250. 11 Received $7,350 cash for performing coaching services, 15 Paid previous month's salarios 17 Collected $2,000 in advance for coaching services to be performed later. 20 Completed a large coaching job and billed the customer for $6,575. 22 Received the electric bill and cell phone bill for the business totaling $725. (Credit Accounts Payable) 25 Collected $2,500 cash from customers on account. 27 Sold merchandise to customers for $3,900 on account. The merchandise cost $1,680. . 30 Paid $3,350 on account. 31 Cash dividends of S2,700 were paid to stockholders. a b Adjusting Entries Depreciation method on the truck was changed to the units of production method in August. Depreciation was recorded assuming a useful life of five years, salvage value of $3,000 and estimated miles of 100,000. The truck was used 2,400 miles in August Prepaid Insurance for the month has expired Office Supplies on hand, S545 Unearned Revenue eamed during the month, $1,100. Another month of rent has expired The company records bad debt using the percent of receivables method estimating that 2% of receivables will not be collected. Bad debt is calculated after all regular entries are recorded. Accrued payroll expense for August Accrued payroll tax expense for August d e f 9 h Open Office Instructions Data Trial Balance Transactions ENTERANSWERS1 ENTERANSWERS2 ENTERANSWERS3 ENTERANSWERS4 EN Requirement 1 Complete the Payroll Register for the three employees for the week ended August 31, 2024. Payroll Register Earnings Withholdings Employee Name Medicare OASDI Net Pay Beginning Cumulative Earnings Check No Pay Rate Hours Worked Current Period Earnings Federal State Income Tax Income Tax Regular Pay Overtime Pay Ending Cumulative Earnings Other Totul Withholdings Wages Expense 1.45% 18.00% 7.00% John Dee Mark Hall Alex Smith Tocal 2203 2204 2205 Requirement 2 Complete the Payroll Tax Register for the week ended August 31, 2024. Payroll Tax Register OASDI SUTA Employee Name Earnings Current Beginning Period Cumulative Earnings Earnings Emplover Payroll Taxes Medicare FUTA 1.45% 0.60% Ending Cumulative Earnings 5.40% Total Taxes John Doe Mark Hall Alex Smith Total Requirement 3 Compute the total payroll expense for the week ended August 31 Description Amount Total Gross Pay Payroll Tax Expense Tocal 0 10:15 PM Mon Apr 25 le 1938% SP22 Comprehensive Project 2 v1 XLSX - 47 KB U Instructions Data Trial Balance Transactions ENTERANSWERS1 ENTERANSWERS2 ENTERANSWERS3 ENTERANSWERS4 EN Dale Account and Explanation DR CR Open Office Le 10:15 PM Mon Apr 25 le 1938%. x SP22 Comprehensive Project 2 v1 XLSX - 47 KB Transactions ENTERANSWERS1 ENTERANSWERS2 Instructions Data Trial Balance ENTERANSWERS3 ENTERANSWERS4 E ASSETS LIABILITIES EQUITY Contributed Capital Retained Earnings Debit Credit Check DR CR 2 Cash Accounts Payable Common Stock + Dividends Service Revenue Cost of Goods Sold 0 Salaries Payable Retained Earnings Sales Revenue Saluries Expense 0 Petty Cash Employee Federal Income Taxes Payable Sules Discounts Forfeited Payroll Tax Expense 0 0 Accounts Receivable Employee State Income Taxes Payable Rent Expense Allowance for Bad Debt Federal Unemployment Taxes Payable Utilities Expense D Merchandise Inventory FICA-Medicare Taxes Payable Depreciation Expense Building D FICA--OASDI Taxes Payable Depreciation Expense Equipment Estimated Returns Inventory State Unemployment Tunes Payable Depreciation Expense Truck Office Supplies 0 Open Office 0 Interest Payable Advertising expense Prepaid Insurance FICA-OASDI Taxes Payable Depreciation Expense Equipment Estimated Returns Inventory State Unemployment Taxes Payable Depreciation Expense Truck Office Supplies Interest Payable Advertising Expense Prepaid Insurance Refunds Payable Delivery Expense Prepaid Rent L'oearned Revenus Supplies Expense Land Insurance Expense Building Notes Payable Bad Debt Expense Accumulated Depreciation Building Interest Expense Equipment Income Tax Expense Accumulated Depreciation Equipment Truck Accumulated Depreciation Truck 10:16 PM Mon Apr 25 137% SP22 Comprehensive Project 2 v1 XLSX - 47 KB - Transactions ENTERANSWERS1 ENTERANSWERS2 Instructions Data Trial Balance ENTERANSWERS3 ENTERANSWERS4 E Adjusted Trial Balance Balance Credit Debit Account Title Cash Petly Cash Accounts Receivabla Allowance for Bad Debu Merchandise Inventory Estimated Returns Inventary Office Supplies Prepaid Insurance Prepaid Rem Land Building Accumulated Depreciation Building Equipment Accumulated Depreciation Equipment Track Accumulated Depreciation Truck Avuunts Payable Salaries Payable Employee Federal lacome Txos Payable Employee State Income Taxes Payable Fachtal Umploymsal Taxos Payable FICA Medicare Taxes Payable FICA-OASDI Taxes lavable State Unemployment Taxes Payable Interest Payable Refund Payable Uncanned Rover Notes Payable Common Stock Retained varnings Dividends Service Revenue Sales Revenge Sales Discounts Forfeita Cast of Goods Sold Salas Expense Payroll Tax Expense Rent Expende Utilities Fixpense Deploaie Expense Building Depreciation Expense. Tquipment Deprecation Expense - Truck Advertising Expertise Delivery Expo Supplies Expense Insurance Experts Bad Dalvt Expense erest Expense Income Tax Expense Open Office Le 10:16 PM Mon Apr 25 1937% SP22 Comprehensive Project 2 v1 XLSX - 47 KB U Instructions Data Trial Balance Transactions ENTERANSWERS1 ENTERANSWERS2 ENTERANSWERS3 ENTERANS Income Statement Revenues Total Revenue Operating Expenses: Selling and Administrative Expenses: Total Selling and Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses) Total Other Income and (Expenses) Income Before Income Tax Expense Open Office Le Instructions Data Trial Balance Transactions ENTERANSWERS1 ENTERANSWERS2 ENTERANSWERS3 ENTERANSI Statement of Retnined Earnings 10:16 PM Mon Apr 25 le 1937% U SP22 Comprehensive Project 2 v1 XLSX - 47 KB Transactions ENTERANSWERS1 ENTERANSWERS2 Instructions Data Trial Balance ENTERANSWERS3 ENTERANSI Balance Sheet Liabilities Assets Current Assets Total Current Assets Property, Plant and Equipment Tatal Liabilities Stockholder's Equity Total Property, Plant & Equipment Total Stockholder's Equity Total Asist Total Liabilities and Stockholder's Equity Open Office
