Required information

[The following information applies to the questions displayed below.]

NOTE: Throughout this lab, every time a screenshot is requested, use your computer's screenshot tool, and paste each screenshot to the same Word document. Label each screenshot in accordance to what is noted in the lab. This document with all of the screenshots included should be uploaded through Connect as a Word or PDF document when you have reached the final step of the lab.

In this lab, you will:

Required:

Take the journal entries and create a trial balance.

Ask the Question: Can PivotTables be used to post journal entries and create a trial balance?

Master the Data: AttackID is formed to sell privacy and cybersecurity. AttackID begins business January 1, 2022, and has 52 journal entries in the first month, which we have now input into an Excel spreadsheet.

Software needed

• Excel
• Screen capture tool (Windows: Snipping Tool; Mac: Cmd+Shift+4)

Data: Excel File Lab 1-1 Alt Data.xlsx.

Perform the Analysis: Refer to Lab 1-1 Alternative in the text for instructions and Lab 1-1 steps for each of the lab parts.

Share the Story: Once we have completed the trial balance and it, in fact, balances, we are ready to publish the balance sheet and the income statement for all interested stakeholders.

Part 1: Upload Your Files Part 2: Assessment

Required:

1. What is the total credits for the final trial balance?

• 284,477

• 176,100

• Can not be calculated

2. How much is total liabilities in the trial balance?

• 76,200

• 32,300

• 26,200

• 176,100

3. In a trial balance, the total debits should equal total credits?

• True

• False

4. A trial balance includes accounts from the ___________ and _____________ .

• Income statement, balance sheet and statement of cash flows

• Income statement and balance sheet

• Balance sheet and statement of cash flows

• Income statement and statement of cash flows

5. What is the calculation for the Net Debits computation in the Calculated Fields, Items and Sets?

• IF(Credit>Debit, Credit Debit)

• IF(Credit>Debit, Debit Credit)

• IF(Debit>Credit, Debit Credit)

• IF(Debit>Credit, Credit Debit)