Sare H AC 321 Int1 - FA20 Comprehensive Problem-Hammond (2).xlsx - Excel Search File Home Insert Draw Page Layout Formulas Data Review View Help Calib X Cur LL Copy - Paste Famat Painter - 12 - AA== S.A 9 Wran Text BIV- SET Merge Center General $ -% -28 HILA F Conditional Fomale Cell Formatting Table Styles Sytes thwyt Delete for Chord Font F Alignment Number H37 Calle C D E G H 19 REQUIREMENTS: 20 Part 1 Post the Unadjusted Trial Balance totals to the Accounts on the sheet labeled "T Accounts." These numbers will represent your beginning balances. 22 Part 2 Record the adjusting journal entries required for items AND post them to the l-accounts. Add or extend lines on any Accounts if necessary a 24 Part 3 Prepare an Adjusted Trial Balance for Gatsby, Inc. using the updated Accounts. 2 Adjusted to check figure $1,277,600 26 Part 4 Prepare, in good form, financial statements on each specified sheet in the following order: 27 Multi-Step Income Statement and prepare a bar AND a pie chart for a visual representation of expenses Statement of Stockholders' Equity 29 Classified Balance Sheet Total Assets checke gure $871,950 3 Part 5 Using the financial statements, calculate the following ratios on the specified sheet and brily 2 or 3 sentences) interpret the ratios for Gatsby, Inc Be sure to compare them to the industry averages which are given on the specified sheet 31 Working Capital 34 Current Ratio Chuck Ratio (Acid Test) detto Equity Times est med Pants Houd closing journal entries AND post them to the accounts. Purt Prepare Post Closing Trial Balance in the updated accounts. 41 Totul debit check w $935,950 Project marine Adjusting Journal Entries Accounts Adjusted Trance 122 AutoSave @ OH AC 321 Intl - FA20 - Comprehensive Problem-Hammon (1) (2).xlsx - Excel File Home Insert Draw Page Layout Formulas Data Review View Help Calibri 11 == ab Wrap Text ' ' a. A- Number X Cut Lo Copy Format Painter Clipboard Paste BIU Merge & Center $ % Font Alignment Numbe D31 B D E F G . 160,000 8,000 160,500 0 0 45,000 150,000 310,000 124,750 13 Equipment 14 Accumlated Depreciation Equipment 15 Accounts Payable 16 Interest Payable 17 Wages Payable 18 Unearned Revenue - Alarm Systems 19 Long-Term Bank Note Payable 20 Common Stock 21 Retained Earnings 22 Dividends 23 Revenue 24 Cost of the Goods Sold 25 Depreciation Expense 25 26 Insurance Expense 27 Interest Expense 28 Rent Expense 29 Supplies Expense 30 Utilities Expense 31 Wage Expense 32 Totals 33 34 35 7,000 381,000 146,000 0 15,000 0 54,000 0 23,300 67,900 $1,219 250 $1,219 250 37 38 39 40 41 Project Instructions Unadjusted Trial Balance Adjusting lournal Entries Accounts Adjusted Tralalang Autosave AC 321 int -FA20 - Comprehensive Problem. Hammon(1) (23.xix - Excel O Search File Home Insert Draw Page Layout Formulas Data Review View Help Calibri 11 - A A General X Cat Paste la Copy - 3 Format Painter Clipboard B TUBE SA Wrap Text Meege & Center $ - % * - PH Conditional Format as Cell Formatting Table Styles Insert De Font 15 Alignment Number fi A B D D E F G H H K M N 16 17 18 D On October 1st of the current year the company purchased a 12 month insurance policy for $24,000. The transaction was recorded with a debit to the Prepaid Insurance account. Insurance expense has not been recorded for November nor December D. 20 E. On December 30 of the current year the company completed an $38,000 job that has not been billed/invoiced and therefore has not been recorded E 23 A $150,000 long-term nate payable was signed on August 1st of the current year. It is a five year note with 26% interest rate. Interest expense as not been accrued for this year F. 27 Supplies at the beginning of the current year had a balance of $ 300. Supplies valued at $4,200 were purchased thoughout the year. The current balance in the account is $400. G G. HL 11 Depreciation on the building is calculated using the straight-line depreciation method. Gatsby estimates depreciation mtw building over 25 year period and a sera salvape/residual value H. M Praction Unted Trace Adjusting Journal Entries Account Adjuste trattande AC 121 A20 Comprehensive Problem. Har) 21 - Excel File Home Insert Draw Page Layout Formulas Data Review View Help Calib -11 Number he Copy X cu IT - Terma Punter Behand - AA Wrap Text -A3 Merge Center - BIU-- Zhu $ % 9.99 Canctional located Formatting Table Styles Insert Delete for Aliment Numb M12 Cels C D E F H 1 K 2 M N 0 P g 1 2 ASSETS 3 Cash 4 Land LIABILITIES Accounts Payable Unearned Rey. Alarnas EQUITY Common Stock 6 Building Interest Payable Long Term Note Payable Retained Earnings Accum Depre Building Wages Payable 5 Accounts Receivable 10 11 12 13 Prepaid insurance 14 15 16 T 10 Supplies 15 20 Dividende Equipment 22 OY Accum Depre Equipment RS REVENUE EXPENSES Las the first Danciation Project instructions Unadjusted Trial Balance Adjusting ournal Entries T-Accounts Rentne Adjusted Trial Balance Intl AC 321 FA20Competensive Problem. Hammond - Excel File Home Insert Drow Page Layout Formulas Data Review View Help 11 X Cut LE Paste Format Printer Copy - Witap test EEEE Merge Center - Number BTU 0.A ER EI $ - % 9 M Conditionat Tomata Formatting Table Styles - seit Deformat DIE 10 Algement 5 Number MIZ Style 6 D E F G G H M N O P A 26 27 28 REVENUE 29 Revenue 10 37 EXPENSES Cost of the Goods Sold Depreciation Expense Rent Expense Utilities Expense 33 14 315 36 insurance Expense Interest Expenser Suplies Expense Waves Expense 36 43 46 41 10 Poction Unded the balance Adjusting Journals TAccounts Adjusted to Balance in Autoane AC 321 int -FA20 Comprehensive Problem Harmon(1) Excel Draw Page Layout Formulas Data Review View Help Calib 11 - E Home Insert PLX Xcut Paste [ Copy - 3 Format Painter Cabeant General BIU ED Wrap Text Merge Center $ % 99 % Conditional Formats Cell Formatting - Table Styles truert ette Agent Number 125 G H 1 K M N 0 P 8 1 Prepare the Adjusted Trail Balance on this sheet 2 3 4 5 6 7 10 11 12 13 16 15 36 TE 21 ..nadjusted To Malance Adjusting hours Entiles Account Adjusted Trial Balance income Statement Sta + SOR 8 - AC 221 in 1 - FAZO. Comprehensive Problem Hammont) x2 Excel o search File Home Insert Draw Page Layout Formulas Data Review View Held Gerial Xcut la Copy - Paste Format Painter Coband Call 11 AA EE 25 Wrap Text BIU- - A Merge Center Agns - $ - % 91843 Conditional Fomatas Cell Formatting Table Styles - Intert Delete Formu 14 For Cle ND les AI Prepare a MULTI-STEP Income Statement HERE 3 D Prepare a MULTI-STEP Income Statement HERE E G HI K L M Properes Bar Chart AND Pie Chart showing a presentation of HERE N 4 1 2 3 4 4 5 5 6 7 9 10 11 12 1 3 14 15 15 17 10 19 21 22 22 - United Trial Balance Aigoumel Entries Account Add Tra5. Adjusted Trial Balance Income Statements Autosure Fide Home Insert Draw LF X CH Copy - Paste - Format Painter beard 8-= 1221 K-FA20 - Comprehensive Problem Hammont - Excal Page Layout Formulas Review View Help -11 - A A EP 13 Wrap To 5 - % Ton G M N A B C D E 1 Prepare the Statement of Shareholders' Equity HERE 2 3 4 5 6 7 91 10 11 12 13 14 15 17 10 15 20 21 22 2 25 26 20 20 Trondjusted Trial balance income Statement Statement Shareholders' Equity AutoSave GF AC 321 in I-FA20 - Comprehensive Problem Hammon 1) ( 2x - Excel File Home Insert Sem Draw Page Layout Formulas Data Review View Help IT SEE Paste X Cut In Copy 3 format Printer deboard 15 Calibri - 11-AA BIU - OA 23 Wrap Test General 3Merge & Center $ - % * Font Conditional Formats Cell Formatting Table Styles - Insert Delete Alignment 15 Number E F G A B D 1 Prepare a CLASSIFIED Balance Sheet HERE 2 3 H 1 K M N 0 P 5 6 7 D D 9 TO 11 12 13 74 15 16 17 10 20 21 23 24 AT Aco Adjusted Trance Income Statement Statement holder Equity Balance Sheet Finance BAC TEA20 - Comprehensive Piece-Hammon - Excel Page Layout Formula Data Ree View Help FR Home insert Searth lachen Canin -11 XC Copy - format - Phone Gerval BIU-- Wap Test Bege Comer- GA $ -% 9 et Delete Conditional Consell For the Sites S Autosum - 99 Sort Clear 111 6 Nu D E 1 Call the five specified financie HERE F H G INDUSTRY AVERAGES for comparison Curi Hati 2.51 Quick Acid Ratio 2.0:1 Dette Equity Ratio DS Turint and 30 IN THIS AREA: Use the INDUSTRY AVERAGES given on the sheet to compare there from the ratis you computed and briefly discuss your findings 4 5 0 11 11 21 cel Mare here it lance Short Financial ratione AutoSave OH AC 321 Int -FA20 - Comprehensive Problem-Hammon(I) (2xlsx - Excel File Home Insert Draw Page Layout Formulas Data Review View Help Paste Copy X Cut In - Format Painter Clipboard Calibri - 11 AA 25 Wrap Text BIU OA-Merge & Center General $ % 8-98 Condition Formatting Font 15 Alignment Number K15 1 2 f F G H 1 K L M A B D E 1 Prepare all necessary closing journal entries HERE 2 3 4 5 6 7 8 9 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 . . Income Statement Staternent Shareholders' Equity Balance Sheet Financial Ratios Closing Journal Entries to DNI AutoSave OOM AC 321 int 1-FA20 - Comprehensive Problem-Hammon (1) (2).xlsx File Excel Home Insert Draw Page Layout Formulas Data Review View X Cut Help Calibri - 11 Paste Copy - A AA - A 2 29 Wrap Text BIU General v Format Painter Clipboard Merge & Center $ % 9 Font Alignment 16 Number fr F F G H 1 A B D 1 Prepare the Post-Closing Trial Balance HERE 2 3 4 5 6 7 8 | 9 10 11 12 13 14 15 16 17 18 19 20 21 22 24 25 26 27 28 29 Balance Sheet Financial Ratios Closing Journal Entries Post Closing Trial Balanceading Rubin Sare H AC 321 Int1 - FA20 Comprehensive Problem-Hammond (2).xlsx - Excel Search File Home Insert Draw Page Layout Formulas Data Review View Help Calib X Cur LL Copy - Paste Famat Painter - 12 - AA== S.A 9 Wran Text BIV- SET Merge Center General $ -% -28 HILA F Conditional Fomale Cell Formatting Table Styles Sytes thwyt Delete for Chord Font F Alignment Number H37 Calle C D E G H 19 REQUIREMENTS: 20 Part 1 Post the Unadjusted Trial Balance totals to the Accounts on the sheet labeled "T Accounts." These numbers will represent your beginning balances. 22 Part 2 Record the adjusting journal entries required for items AND post them to the l-accounts. Add or extend lines on any Accounts if necessary a 24 Part 3 Prepare an Adjusted Trial Balance for Gatsby, Inc. using the updated Accounts. 2 Adjusted to check figure $1,277,600 26 Part 4 Prepare, in good form, financial statements on each specified sheet in the following order: 27 Multi-Step Income Statement and prepare a bar AND a pie chart for a visual representation of expenses Statement of Stockholders' Equity 29 Classified Balance Sheet Total Assets checke gure $871,950 3 Part 5 Using the financial statements, calculate the following ratios on the specified sheet and brily 2 or 3 sentences) interpret the ratios for Gatsby, Inc Be sure to compare them to the industry averages which are given on the specified sheet 31 Working Capital 34 Current Ratio Chuck Ratio (Acid Test) detto Equity Times est med Pants Houd closing journal entries AND post them to the accounts. Purt Prepare Post Closing Trial Balance in the updated accounts. 41 Totul debit check w $935,950 Project marine Adjusting Journal Entries Accounts Adjusted Trance 122 AutoSave @ OH AC 321 Intl - FA20 - Comprehensive Problem-Hammon (1) (2).xlsx - Excel File Home Insert Draw Page Layout Formulas Data Review View Help Calibri 11 == ab Wrap Text ' ' a. A- Number X Cut Lo Copy Format Painter Clipboard Paste BIU Merge & Center $ % Font Alignment Numbe D31 B D E F G . 160,000 8,000 160,500 0 0 45,000 150,000 310,000 124,750 13 Equipment 14 Accumlated Depreciation Equipment 15 Accounts Payable 16 Interest Payable 17 Wages Payable 18 Unearned Revenue - Alarm Systems 19 Long-Term Bank Note Payable 20 Common Stock 21 Retained Earnings 22 Dividends 23 Revenue 24 Cost of the Goods Sold 25 Depreciation Expense 25 26 Insurance Expense 27 Interest Expense 28 Rent Expense 29 Supplies Expense 30 Utilities Expense 31 Wage Expense 32 Totals 33 34 35 7,000 381,000 146,000 0 15,000 0 54,000 0 23,300 67,900 $1,219 250 $1,219 250 37 38 39 40 41 Project Instructions Unadjusted Trial Balance Adjusting lournal Entries Accounts Adjusted Tralalang Autosave AC 321 int -FA20 - Comprehensive Problem. Hammon(1) (23.xix - Excel O Search File Home Insert Draw Page Layout Formulas Data Review View Help Calibri 11 - A A General X Cat Paste la Copy - 3 Format Painter Clipboard B TUBE SA Wrap Text Meege & Center $ - % * - PH Conditional Format as Cell Formatting Table Styles Insert De Font 15 Alignment Number fi A B D D E F G H H K M N 16 17 18 D On October 1st of the current year the company purchased a 12 month insurance policy for $24,000. The transaction was recorded with a debit to the Prepaid Insurance account. Insurance expense has not been recorded for November nor December D. 20 E. On December 30 of the current year the company completed an $38,000 job that has not been billed/invoiced and therefore has not been recorded E 23 A $150,000 long-term nate payable was signed on August 1st of the current year. It is a five year note with 26% interest rate. Interest expense as not been accrued for this year F. 27 Supplies at the beginning of the current year had a balance of $ 300. Supplies valued at $4,200 were purchased thoughout the year. The current balance in the account is $400. G G. HL 11 Depreciation on the building is calculated using the straight-line depreciation method. Gatsby estimates depreciation mtw building over 25 year period and a sera salvape/residual value H. M Praction Unted Trace Adjusting Journal Entries Account Adjuste trattande AC 121 A20 Comprehensive Problem. Har) 21 - Excel File Home Insert Draw Page Layout Formulas Data Review View Help Calib -11 Number he Copy X cu IT - Terma Punter Behand - AA Wrap Text -A3 Merge Center - BIU-- Zhu $ % 9.99 Canctional located Formatting Table Styles Insert Delete for Aliment Numb M12 Cels C D E F H 1 K 2 M N 0 P g 1 2 ASSETS 3 Cash 4 Land LIABILITIES Accounts Payable Unearned Rey. Alarnas EQUITY Common Stock 6 Building Interest Payable Long Term Note Payable Retained Earnings Accum Depre Building Wages Payable 5 Accounts Receivable 10 11 12 13 Prepaid insurance 14 15 16 T 10 Supplies 15 20 Dividende Equipment 22 OY Accum Depre Equipment RS REVENUE EXPENSES Las the first Danciation Project instructions Unadjusted Trial Balance Adjusting ournal Entries T-Accounts Rentne Adjusted Trial Balance Intl AC 321 FA20Competensive Problem. Hammond - Excel File Home Insert Drow Page Layout Formulas Data Review View Help 11 X Cut LE Paste Format Printer Copy - Witap test EEEE Merge Center - Number BTU 0.A ER EI $ - % 9 M Conditionat Tomata Formatting Table Styles - seit Deformat DIE 10 Algement 5 Number MIZ Style 6 D E F G G H M N O P A 26 27 28 REVENUE 29 Revenue 10 37 EXPENSES Cost of the Goods Sold Depreciation Expense Rent Expense Utilities Expense 33 14 315 36 insurance Expense Interest Expenser Suplies Expense Waves Expense 36 43 46 41 10 Poction Unded the balance Adjusting Journals TAccounts Adjusted to Balance in Autoane AC 321 int -FA20 Comprehensive Problem Harmon(1) Excel Draw Page Layout Formulas Data Review View Help Calib 11 - E Home Insert PLX Xcut Paste [ Copy - 3 Format Painter Cabeant General BIU ED Wrap Text Merge Center $ % 99 % Conditional Formats Cell Formatting - Table Styles truert ette Agent Number 125 G H 1 K M N 0 P 8 1 Prepare the Adjusted Trail Balance on this sheet 2 3 4 5 6 7 10 11 12 13 16 15 36 TE 21 ..nadjusted To Malance Adjusting hours Entiles Account Adjusted Trial Balance income Statement Sta + SOR 8 - AC 221 in 1 - FAZO. Comprehensive Problem Hammont) x2 Excel o search File Home Insert Draw Page Layout Formulas Data Review View Held Gerial Xcut la Copy - Paste Format Painter Coband Call 11 AA EE 25 Wrap Text BIU- - A Merge Center Agns - $ - % 91843 Conditional Fomatas Cell Formatting Table Styles - Intert Delete Formu 14 For Cle ND les AI Prepare a MULTI-STEP Income Statement HERE 3 D Prepare a MULTI-STEP Income Statement HERE E G HI K L M Properes Bar Chart AND Pie Chart showing a presentation of HERE N 4 1 2 3 4 4 5 5 6 7 9 10 11 12 1 3 14 15 15 17 10 19 21 22 22 - United Trial Balance Aigoumel Entries Account Add Tra5. Adjusted Trial Balance Income Statements Autosure Fide Home Insert Draw LF X CH Copy - Paste - Format Painter beard 8-= 1221 K-FA20 - Comprehensive Problem Hammont - Excal Page Layout Formulas Review View Help -11 - A A EP 13 Wrap To 5 - % Ton G M N A B C D E 1 Prepare the Statement of Shareholders' Equity HERE 2 3 4 5 6 7 91 10 11 12 13 14 15 17 10 15 20 21 22 2 25 26 20 20 Trondjusted Trial balance income Statement Statement Shareholders' Equity AutoSave GF AC 321 in I-FA20 - Comprehensive Problem Hammon 1) ( 2x - Excel File Home Insert Sem Draw Page Layout Formulas Data Review View Help IT SEE Paste X Cut In Copy 3 format Printer deboard 15 Calibri - 11-AA BIU - OA 23 Wrap Test General 3Merge & Center $ - % * Font Conditional Formats Cell Formatting Table Styles - Insert Delete Alignment 15 Number E F G A B D 1 Prepare a CLASSIFIED Balance Sheet HERE 2 3 H 1 K M N 0 P 5 6 7 D D 9 TO 11 12 13 74 15 16 17 10 20 21 23 24 AT Aco Adjusted Trance Income Statement Statement holder Equity Balance Sheet Finance BAC TEA20 - Comprehensive Piece-Hammon - Excel Page Layout Formula Data Ree View Help FR Home insert Searth lachen Canin -11 XC Copy - format - Phone Gerval BIU-- Wap Test Bege Comer- GA $ -% 9 et Delete Conditional Consell For the Sites S Autosum - 99 Sort Clear 111 6 Nu D E 1 Call the five specified financie HERE F H G INDUSTRY AVERAGES for comparison Curi Hati 2.51 Quick Acid Ratio 2.0:1 Dette Equity Ratio DS Turint and 30 IN THIS AREA: Use the INDUSTRY AVERAGES given on the sheet to compare there from the ratis you computed and briefly discuss your findings 4 5 0 11 11 21 cel Mare here it lance Short Financial ratione AutoSave OH AC 321 Int -FA20 - Comprehensive Problem-Hammon(I) (2xlsx - Excel File Home Insert Draw Page Layout Formulas Data Review View Help Paste Copy X Cut In - Format Painter Clipboard Calibri - 11 AA 25 Wrap Text BIU OA-Merge & Center General $ % 8-98 Condition Formatting Font 15 Alignment Number K15 1 2 f F G H 1 K L M A B D E 1 Prepare all necessary closing journal entries HERE 2 3 4 5 6 7 8 9 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 . . Income Statement Staternent Shareholders' Equity Balance Sheet Financial Ratios Closing Journal Entries to DNI AutoSave OOM AC 321 int 1-FA20 - Comprehensive Problem-Hammon (1) (2).xlsx File Excel Home Insert Draw Page Layout Formulas Data Review View X Cut Help Calibri - 11 Paste Copy - A AA - A 2 29 Wrap Text BIU General v Format Painter Clipboard Merge & Center $ % 9 Font Alignment 16 Number fr F F G H 1 A B D 1 Prepare the Post-Closing Trial Balance HERE 2 3 4 5 6 7 8 | 9 10 11 12 13 14 15 16 17 18 19 20 21 22 24 25 26 27 28 29 Balance Sheet Financial Ratios Closing Journal Entries Post Closing Trial Balanceading Rubin