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Follow the steps below to complete Comprehensive Problem 1 Part 1 using Cengage General Ledger. The problem is in three parts, each graded separately. When you begin the second and third parts, all account balances will be set correctly for the beginning of that part, in order to prevent any previous errors from compounding.

To access additional Help, click on the Help button that appears in the lower part of your screen (note that you may need to scroll down and over to see this button).

1. All account setups and opening balances required to begin this problem are loaded when you select the problem from the CengageNOW assignment menu. Click on the Save and Exit button at the bottom of your screen at any point to save your work if you need to stop working to continue later. Your work will automatically be restored when you return.
2. Set the System Date in the lower part of your screen to 5/3/16 (note that you may need to scroll down to see the System Date box).
3. Enter the journal entries for May 2016 in the General Journal using the information from the text problem, replicated in the frame to the left. Click on the General Ledger tab, and then select General Journal from the Tasks menu on the left menu bar. Enter journal entries by clicking on the Add New Entry button or pressing Ctrl-Y. Enter the date of each transaction. For each debit or credit entry, click on the Insert Debit/Credit button (or Ctrl-I). After each journal entry is entered, click on the Post button (or Ctrl-O) to post the entry to the General Ledger.
4. Display the journal entries. Click on the General Journal item under the Journal Reports menu on the left menu bar. If you have been asked to print the report, click on the Print button.
5. Make corrections to the journal entries, if necessary. In the General Journal window, click on the entry you wish to correct, then make the correction(s) to the journal entry, and click on the Post button to confirm your changes.
6. Display the Unadjusted Trial Balance report. Click on the Trial Balance item under the Ledger Reports menu on the left menu bar. To print the report, click on the Print button.
7. When you are comfortable that you have completed all steps of the problem correctly, click on theCheck My Work button near the bottom of your screen if it is available, orclick on the Submit Assignment for Grading button in the lower right of your screen. The program will then display the results of the grading, indicating accounts in error with a red X. Note that grading inCengage Learning General Ledger is based on getting each General Ledger account to its correct ending balance rather than grading journal transactions individually.This means that the order of transactions in the general journal is not graded, so you may add transactions and also delete or correct transactions without penalty if you run into difficulty with the assignment.

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