This is a two part project (Directions file) and the submission for Part A should be saved for use in Part B. The application of the accounting content AND the use of Excel/Sheets functionality are BOTH important. Please read each requirement carefully, expanding columns/rows as needed. Use of the basic reference/linking function and math functionality in Excel/Sheets must be included to the fullest extent possible to earn full project points. Referencing 'answer' cells back to 'input' cells creates a functioning, effective worksheet.
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File Edit View Insert Format Data Tools Extensions Help Q Menus 100% View only A1:Q1 fX PROJECT \#1- PART B \begin{tabular}{|c|c|c|c|} \hline A & B & C \\ \hline PROJECT H1 & PART B \end{tabular} PROJECT \#1 - PART B 7 Prepare the 3 Financial statements in good form using the final ending T-account balances as of January 31, current year creates a functioning, effective worksheet. Making these connections allows the worksheet to be used for analyzing potential changes in the results. Financial statements must follow outline shown in the textbook and homework with titles and totals, and must be classified. You are creating the financial statements on this 'blank' worksheet. you are not meeting the requirements of the project. 'ou must make a copy before using this sheet. This is the master. File (right under the title) then make Project \#1 Two Part Accounting Cycle is File Edit View Insert Format Data Tools Extensions Help Q Menus - 100\% * View only A1:AE1 - fXX PROJECT H1 - PART A PROJECT \#1 - PART A 2 Create a T-account for every account used to date by MBC on the T-account tab. Correctly post any beginning balances. There are more than enough T-accounts. Post each of the journal entries to the correct T-account using linking/referencing functionality. See example video as needed. 3 Using the math functionality in Excel/Sheets, calculate the correct SUBTOTAL balance for each T-account. Adjusting journal entries for Part B will be posted after this subtotal. entries) creates a functioning, effective worksheet. PROJECT \#1 - PART B 5 Post each of the adjusting entries to the T-accounts (after the previous subtotals submitted for Part A) using the same linking/referencing function. Revenue Expenses Project \#1 Two Part Accounting Cycle is (4) File Edit View Insert Format Data Tools Extensions Help Menus 100% View only - fx general journal 1. Record journal entries for the transactions dated January 1-25 of the current year on the journal entry form. PROJECT \#1 - PART A Jan The following transactions occurred during January of the current year. 1 Paid 12 months insurance starting January 1,$5,100. 2 Paid 9 months rent starting January 1,$3,600. 3MBC borrows $36,000 cash from National State Bank at 6% annual interest; this note is payable in two years. 4 A new oven is purchased using cash. The total cost was $24,000. 5 Stockholders contribute $7,000 of additional cash to MBC for its common stock. 6 Additional supplies costing $1,100 are purchased on account and received. 7 Accounts receivable of $600 is collected from December sales. 8 Accounts payable of $200 is paid from December purchases. 9 Performed services for customers on account, sending invoices totaling $10,900. 10 Performed services for customers totaling $7,500 who paid in cash. 16 Salaries totaling $1,150 were recorded and paid for the first half of the month. 20MBC received $3,800 from a customer for an advance order for services to be provided later in Jan \& Feb. 25 Accounts receivable of $4,800 is collected from customer on account from January 9
