Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please complete the following 1.worksheet 2.income statement 3.statement of retained earnings 4.balance sheet You must uar Microsoft Excel. You cannot use other spreadsheet software. If

please complete the following
1.worksheet
2.income statement
3.statement of retained earnings
4.balance sheet
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
You must uar Microsoft Excel. You cannot use other spreadsheet software. If you do not have Excel on your computer, download the free version at the link above. Assignments submitted in a format other than Excel will receive a grade of zero. Requirement 1 Complete Myer's Home Supply Company's worksheet, In the first worksheet tab, at the bottom of the Excel workbook, is the beginning of a worksheet. You are given the trial balance portion. You need to enter the adjustments below in the adjustment columns and then complete the remainder of the worksheet through the adjusting trial balance columns. Adjustments: 1. After doing the year-end count of office supplies, Myers found that $300 of office supplies remained. 2. After doing the year-end count of inventory, Myers determined that there was $53,200 in ending inventory. 3. $1,400 of the prepaid insurance has expired at year end. 4. Depreciation of the office equipment for the year was $12,500. 5. Depreciation of the store equipment for the year was $15,000. 6. The $34,000 in unearned revenue was for orders that were paid for in advance. At year end, 1/2 of the prepaid orders were fulfilled. 7. Wages that have accrued for the year but have not been paid yet totaled $12,000. This should be split evenly between Sales Salaries and Office Salaries. Excel Specific Requirements: - When completing the adjusted trial balance, all numbers need to be brought over using formulas. In the adjusted trial balance columns, no number should be entered manually. Also the totals of the adjusted trial balance should be formulas using the SUM function. The spreadsheet needs to be set up so if there is a change in one of the adjustments, all balances in the adjusted trial balance will be correct. - When inputting the adjusting entries, the Salaries Payable account is not listed on the trial balance. You need to insert a row below Accounts Payable and add in a row for Salaries Payable. - Be sure that all of the numbers are formatted the same. The numbers should not show any cents, Remember to have a dollar sign on the first number in the column and on the total of the column, Just like the trial balance columns. - Use the thick underline border underneath the last item of the column and Use the double underline border underneath the total of the column. - Format the worksheet so that it prints out onto one page. Be sure the worksheet prints in a landscape format. Hints: - If you do not know how to format numbers in Excel, google "formatting numbers in excel" Zoom Add Category Pivot Table Insert Ta + Instructions Worksheet Income Statement Statement of Retained E \begin{tabular}{|l|l|l|l|l|} \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Continuous Auditing Theory And Application

Authors: David Y. Chan, Victoria Chiu

1st Edition

1787434141, 978-1787434141

More Books

Students also viewed these Accounting questions