This is for an accounting project. The first five pages are the instructions for the project.

Application Guide - Se x Q gooogle - Search X P Job Details - My Perfer X Bb Review Submission His X Question 3 - W5: ONE X * Dashboard X + X C https://mybsc.bryantstratton.edu/webapps/assignment/uploadAssignment?action=showHistory&course_id=_92413_1&outcome_d... A G DOO 2/ 13 THONLOT ATTEMPT General Journal 10/1/22 11:38 PM 90.00% Date Account PR Dr T Cr Week 2 1-Jul Cash $100,000 SBK's capital $100,000 SUBMISSION 2-Jul Equipment $10,100 Accounts Payable ACCT205 - Portfolio Project Week 4.xIsx $10,100 5-JulInventories $1,000 COMMENTS Accounts Payable $1,000 9-Jul Inventories $200 Feedback to Learner Cash $200 10/3/22 2:34 PM 11-Jul| Inventories $600 Accounts Payable $600 Thank you for your week fourportfolio project submission. 15-Jul Rent expense The grade breakdown can be found on the first tab of the $2,000 Cash $2,000 excel template. I have made notes on your submission. You 15-Jul Accounts Receivable $1,000 have two more attempts. You may resubmit. Sales Revenue $1,000 15-Jul Cost of Goods sold $120 Update the depreciation amount and ledger account Inventories $120 balances 16-Jul Accounts Receivable $2,000 Sales Revenues $2,000 16-Jul Cost of Goods Sold $240 Inventories $240 22-Jul Accounts Receivable $3.500 Sales Revenue $3,500 24-Jul Sales return & Allowances Account Receivable $500 62F Sunny O a W X 11:34 AM 10/7/2022Application Guide - Se x Q gooogle - Search X P Job Details - My Perfer X Bb Review Submission His X Question 3 - W5: ONE( X * Dashboard X + X C https://mybsc.bryantstratton.edu/webapps/assignment/uploadAssignment?action=showHistory&course_id=_92413_1&outcome_d... A G THONLOT DOO 3 / 13 Account Receivable 53,004 ATTEMPT 31-Jul Electricity Expense $100 10/1/22 11:38 PM 90.00% Cash $100 SUBMISSION ACCT205 - Portfolio Project Week 4.xIsx COMMENTS Week 4 7/31/2022 Cost of Good sold 780.00 Feedback to Learner Inventory 780.00 10/3/22 2:34 PM 7/31/2022 Bad debt expense 1000.00 Accounts receivable 1000.00 Thank you for your week fourportfolio project submission. 7/31/2022 Depreciation expense round to The grade breakdown can be found on the first tab of the Accumulated depreciation WO decimals excel template. I have made notes on your submission. You Week 5 have two more attempts. You may resubmit. Update the depreciation amount and ledger account Week 7 balances 62F Sunny O a W X 11:34 AM 10/7/2022Application Guide - Se x Q gooogle - Search X P Job Details - My Perfer X Bb Review Submission His X Question 3 - W5: ONE( X * Dashboard X + X C https://mybsc.bryantstratton.edu/webapps/assignment/uploadAssignment?action=showHistory&course_id=_92413_1&outcome_d... A G DOO 4 / 13 THONLOT ATTEMPT Cash Act.# 101 10/1/22 11:38 PM 90.00% Date item |PR Debit Credit Balance 1-Jul $100,000 9-Jul $200 15-Jul J15 $2,000 26-Jul 126 SUBMISSION $2,940 31-Jul 131 $100 Total 102.940 ACCT205 - Portfolio Project Week 4.xIsx 2300.00 100640.00 COMMENTS Feedback to Learner Accounts Receivable Act. # 105 10/3/22 2:34 PM Date Item PR Debit Credit Balance 15-Ju J15 $1,000 16-Jul J16 $2,000 Thank you for your week fourportfolio project submission. 22-Jul 122 $3,500 The grade breakdown can be found on the first tab of the 24-Jul 124 $500 26-Ju 126 $3,000 $3,000 excel template. I have made notes on your submission. You 7/31/2022 131 1000.00 TOTAL 6500 4500.00 have two more attempts. You may resubmit. 2000.00 Equipment Act. 150 Date item Update the depreciation amount and ledger account PR Debit Credit Balance 2-Jul $10,100 $10,100 balances Accumulated Depreciation-Equipment Act. 150.1 Date Item PR Debit Credit Balance 7/31/2022 210.00 TOTAL 210 Inventory Act. 170 Date Item PR Debit Credit Balance 5-Jul $1,000 q-lul $200 62'F Sunny O a W X 11:34 AM 10/7/2022Application Guide - Se x Q gooogle - Search X P Job Details - My Perfer X Bb Review Submission His X Question 3 - W5: ONE( X * Dashboard X + X https://mybsc.bryantstratton.edu/webapps/assignment/uploadAssignment?action=showHistory&course_id=_92413_1&outcome_d... A G THONLOT DOO 5 / 13 Inventory Act. 170 ATTEMPT Date Item PR Debit Credit Balance 10/1/22 11:38 PM 90.00% 5-Jul $1,00 9-Jul 19 $200 11-Ju J11 $600 31-Jul 131 $780 SUBMISSION TOTAL $1,800 780 $1,020 Accounts Payable Act. # 210 ACCT205 - Portfolio Project Week 4.xIsx COMMENTS Feedback to Learner 10/3/22 2:34 PM Thank you for your week fourportfolio project submission. Date Item PR Debit Credit Balance The grade breakdown can be found on the first tab of the 2-Jul $10,100 5 - Jul $1,000 excel template. I have made notes on your submission. You 11-Jul $600 TOTAL 11700.00 have two more attempts. You may resubmit. Update the depreciation amount and ledger account SBK, Capital Act. 301 balances Date item PR Debit Credi Balance 1-Jul 100000.0 TOTAL 100,000 Income Summary Act. 310 Date item PR Debit Credi Balance Common Stock Act.# 320 Date litem PR Debit Credit Balance 63.F a W X 11:34 AM Sunny 10/7/2022Application Guide - Se x Q gooogle - Search X P Job Details - My Perfer X Bb Review Submission His X Question 3 - W5: ONE( X * Dashboard X + X C https://mybsc.bryantstratton.edu/webapps/assignment/uploadAssignment?action=showHistory&course_id=_92413_1&outcome_d... A G THONLOT DOO 6 / 13 Sales Act. 410 ATTEMPT Date item PR Debit Credit Balance 10/1/22 11:38 PM 90.00% 15-Jul J15 1000.00 16-Jul 16 2000.00 22-Jul 122 3500.00 TOTAL 6500.00 SUBMISSION ACCT205 - Portfolio Project Week 4.xIsx COMMENTS Feedback to Learner 10/3/22 2:34 PM Thank you for your week fourportfolio project submission. The grade breakdown can be found on the first tab of the Sales returns & allowances Act. # 410.1 Date Item PR Debit Credit Balance excel template. I have made notes on your submission. You 24-Jul 124 $50O TOTAL 500 have two more attempts. You may resubmit. Sales discounts Act.# 410.2 Update the depreciation amount and ledger account Date Item PR Debit Credit Balance balances 26-Jul 126 $60 TOTAL 60 COGS Act. # 530 Date Item PR Debit Credit Balance 31-Jul $780 TOTAL $780 Electric Expense Act. 540 Date item PR Debit Credit Balance 63.F a W X 11:35 AM Sunny 10/7/2022Application Guide - Se x Q gooogle - Search X P Job Details - My Perfer X Bb Review Submission His X Question 3 - W5: ONE( X * Dashboard X + X C https://mybsc.bryantstratton.edu/webapps/assignment/uploadAssignment?action=showHistory&course_id=_92413_1&outcome_d... A G THONLOT DOO 7 / 13 ATTEMPT Depreciation Expense Act. # 550 10/1/22 11:38 PM 90.00% Date Item PR Debit Credit Palance Total goes here 7/31/2022 210.00 TOTAL 210 SUBMISSION Bad Debts Expense Act. # 560 Date Item PR Debit Credit Palance Total goes here ACCT205 - Portfolio Project Week 4.xIsx 7/31/2022 1000.00 TOTAL 1000 COMMENTS Shipping Expense Act. # 570 Feedback to Learner Date item PR Debit Credit Balance 10/3/22 2:34 PM Thank you for your week fourportfolio project submission. The grade breakdown can be found on the first tab of the excel template. I have made notes on your submission. You have two more attempts. You may resubmit. Update the depreciation amount and ledger account balances Rent Expense Act.# 580 Date Item PR Debit Credit Balance 15-Jul $2,000 TOTAL 2000 63.F O a W X 11:35 AM Sunny 10/7/2022Application Guide - Se x Q gooogle - Search X P Job Details - My Perfer X Bb Review Submission His X Question 3 - W5: ONE X * Dashboard X + X C https://mybsc.bryantstratton.edu/webapps/assignment/uploadAssignment?action=showHistory&course_id=_92413_1&outcome_d... A @ G SBK Unadjusted Trial Balance 7/31/2022 Account Act. # Debit Credit Cash 101 100460.00 Account Receivable 105 2000.00 1000 Equipment 150 10100.00 Accumulated depreciation 210 Iventory 170 1020.00 Account payable 210 11700.00 SBK, Capital 301 100000.00 Sales 410 6500.00 Sales returns & allowances 410.1 500 Sales Discounts $10.2 60.00 Cost of Goods sold 530 780.00 Electric expense 540 100.00 Depreciation expense 210.00 Rent expense 580 2000.00 bad debt expense 1000.00 total 118410.00 118,410 OK 63.F Sunny a W X ()) O 11:35 AM 10/7/2022Application Guide - Se x Q gooogle - Search X P Job Details - My Perfer X Bb Review Submission His X Question 3 - W5: ONE X * Dashboard X + X C https://mybsc.bryantstratton.edu/webapps/assignment/uploadAssignment?action=showHistory&course_id=_92413_1&outcome_d... A @ G ACCOUNTS DEBIT CREDIT Cash 100,640 Accounts Receivable 2,000 inventory 1020 Equipment 10,100 Accumulated Depreciation 210 Accounts Payable 11,700 Common Stocks 75,000 Share Premium 26,850 OK 63.F a W X ()) O 11:35 AM Sunny 10/7/2022W AutoSave Off ACCT205 - Portfolio Project Directions and Rubrics . Saved to this PC Search (Alt+Q) A on.duquene.miarlynn 0 X File Home Insert Draw Design Layout References Mailings Review View Help Comments Share Book Antiqua 12 ~ A" A Aa A O Paste E Normal No Spacing Heading 1 B IU~ab Editing Dictate Sensitivity Editor Reuse Files Undo Clipboard Font Paragraph Styles Voice Sensitivity Editor | Reuse Files Directions You will first have to figure out what accounts you are going to need and how to classify them. Once you have figured out what general ledger accounts you need, do the journal entries. Next, you will use an inventory ledger using LIFO to compute the cost of goods sold, put those numbers into the journal, and post to the general ledgers. At month-end, you have received information about a customer that has gone bankrupt and will have to be written off via direct write-off. Remember to post. Now that it is the end of the month, you have to compute the depreciation for the equipment you purchased at the beginning of the month using straight- line for the month. The owner has become concerned about liability, so the company is ACCT205 - Portfolio Project Directions and Rubric 2 converting from a sole proprietorship to a corporation. You, therefore, have to do the required entries. Once you have completed that, you will finish the month-end accounting activities. You will do your trial balance to check your work. Once your trial balance has balanced, you are now to create the three financial statements for the month. You will complete, in good form, an Income Statement, Retained Earnings Statement, and Balance Sheet Finally, you will now have to set up the records for next month by closing the journals and the Page 1 of 14 3300 words DX Text Predictions: On Accessibility: Investigate Focus + 100% 63'F a 11:38 AM ()) O Sunny 10/7/2022W AutoSave Off ACCT205 - Portfolio Project Directions and Rubrics . Saved to this PC Search (Alt+Q) A on.duquene.miarlynn 0 X File Home Insert Draw Design Layout References Mailings Review View Help Comments Share Book Antiqua 12 ~ A" A Aa Ap Paste E Normal No Spacing Heading 1 B IU~ab X2 X' A LA Editing Dictate Sensitivity Editor Reuse Files Undo Clipboard Font Paragraph Styles Voice Sensitivity Editor | Reuse Files Once you have completed that, you will finish the month-end accounting activities. You will do your trial balance to check your work. Once your trial balance has balanced, you are now to create the three financial statements for the month. You will complete, in good form, an Income Statement, Retained Earnings Statement, and Balance Sheet Finally, you will now have to set up the records for next month by closing the journals and the ledgers. You are also to check if you're still in balance by doing a post-closing trial balance. Be sure to double-check that all temporary accounts are properly closed and not reflected on the post-closing trial balance. Requirements and Formatting Your Portfolio Project must be formatted as follows: . Use the word templates provided for the classification exercise. . Use the excel templates provided for the remaining sections of the project. Deadline Deliverable items for the Portfolio Project will be required at different points during the course. Details for each submission are included below in the Deliverable Descriptions. Deliverable Descriptions Week 1: Classification Exercise . Due by the end of Week 1 at 11:59 pm, ET. In order for you to understand what accounts you will need in the company, you will - . Page 2 of 14 3300 words DX Text Predictions: On Accessibility: Investigate Focus + 100% 63'F a 11:38 AM ()) O Sunny 10/7/2022W AutoSave Off ACCT205 - Portfolio Project Directions and Rubrics . Saved to this PC Search (Alt+Q) A on.duquene.miarlynn 0 X File Home Insert Draw Design Layout References Mailings Review View Help Comments Share Book Antiqua 12 ~ A" A Aa Ap O E Normal No Spacing Heading 1 Paste B X X A LA Editing IU~ab Dictate Sensitivity Editor Reuse Files Undo Clipboard Font Paragraph Styles Voice Sensitivity Editor | Reuse Files Week 1: Classification Exercise . Due by the end of Week 1 at 11:59 pm, ET. In order for you to understand what accounts you will need in the company, you will complete the classification exercise on the separate Classification Word document provided. Included in this document, you will also do a trial balance to help with this classification process. Week 2: Journalization . Due by the end of Week 2 at 11:59 pm, ET. Using the information from your classification, you now have figured out which accounts you will need. Using the information listed below, put the transactions in pro forma by doing the required journal entries and general ledger posting. Remember to compute account balances as you post. Excel templates are provided in blackboard. NOTE: You will determine the COGS amounts in week 3, make sure to put the entries in without the amounts. Page 2 of 14 3300 words DX Text Predictions: On 1% Accessibility: Investigate [ Focus + 100% 63'F a W X 11:38 AM ()) O Sunny 10/7/2022W AutoSave Off ACCT205 - Portfolio Project Directions and Rubrics . Saved to this PC Search (Alt+Q) A on.duquene.miarlynn 0 X File Home Insert Draw Design Layout References Mailings Review View Help Comments Share Book Antiqua 12 ~ A" A Aa A O Paste Normal No Spacing Heading 1 B IU~b X X' A DAY Editing Dictate Sensitivity Editor Reuse Files Undo Clipboard Font Paragraph Styles Voice Sensitivity Editor | Reuse Files Date Transaction July 1 Owner invested $100,000 cash into the business July 2 Purchased equipment on account for $10,000 plus $100 installation. It has a life of 4 years with zero residual value. July 5 Purchased 20 coats at $50 each terms 2/10, n/30. July 9 Paid $200 for the shipping of the coats on July 5th. July 11 Purchased another 10 coats at $60 each term 2/10, n/30. July 15 Paid the rent of $2000. July 15 Sold 2 coats to Argus at $500 each, terms 2/10, n/30. At this point remember to do the COGS entry without the dollar value (LIFO). You will compute that amount in the next step of the project. July 16 Sold 4 coats to James at $500 each, terms 2/10, n/30. You will compute that amount in the next step of the project. July 22 Sold 7 coats to Bob at $500 each, terms 2/10, n/30. You will compute that amount in the next step of the project. July 24 Bob returned 1 coat that was damaged and we gave hin credit on his account. Could not be restocked. July 26 Bob paid his bill within the discount period July 31 Paid electric bill $100. Week 3: Inventory . Due by the end of Week 3 at 11:59 pm, ET. After completing the inurnal entries. vou will now compute the COGS for the purchasing and Page 3 of 14 3300 words DX Text Predictions: On Accessibility: Investigate Focus + 100% 63'F a 11:38 AM ()) O Sunny 10/7/2022W AutoSave Off ACCT205 - Portfolio Project Directions and Rubrics . Saved to this PC Search (Alt+Q) A on.duquene.miarlynn 0 X File Home Insert Draw Design Layout References Mailings Review View Help Comments Share Book Antiqua 12 ~ A" A Aa* A O E Normal No Spacing Heading 1 Paste B I U~x x A LA- Editing Dictate Sensitivity Editor Reuse Files Undo Clipboard Font Paragraph Styles Voice Sensitivity Editor | Reuse Files Week 3: Inventory . Due by the end of Week 3 at 11:59 pm, ET. After completing the journal entries, you will now compute the COGS for the purchasing and sales of the coats. You have been given an inventory ledger in the excel templates to post to. Use LIFO (last in first out) to do your computations. Remember to take the numbers you computed and put them in the journal. After putting in all the required numbers, post to the appropriate ledger. Week 4: Bad Debts & Depreciation . Due by the end of Week 4 at 11:59 pm, ET. You have found out that Argus has gone bankrupt. Using the direct write-off method, you are to write him off on July 31st. Do the appropriate journal entry and post to correct ledgers. It's also the end of the month, so you are to compute the depreciation on the asset purchased on the 2nd. Use the straight-line method and take only one month's depreciation (zero residual value). Do the appropriate journal entry and post to correct ledgers. Week 5: Corporations . Due by the end of Week 5 at 11:59 pm, ET. Page 3 of 14 3300 words DX Text Predictions: On 1% Accessibility: Investigate [ Focus + 100% 63'F a W X 11:38 AM ()) O Sunny 10/7/2022W AutoSave Off ACCT205 - Portfolio Project Directions and Rubrics . Saved to this PC Search (Alt+Q) A on.duquene.miarlynn 0 X File Home Insert Draw Design Layout References Mailings Review View Help Comments Share Book Antiqua 12 ~ A" A Aa Ap O Normal No Spacing Heading 1 Paste B I U ~x x ADA. Editing Dictate Sensitivity Editor Reuse Files Undo Clipboard Font Paragraph Styles Voice Sensitivity Editor | Reuse Files Week 5: Corporations . Due by the end of Week 5 at 11:59 pm, ET. ACCT205 - Portfolio Project Directions and Rubric 4 It's the end of the month, and the owner is concerned about unlimited liability being a sole proprietorship. Therefore, the company is converting to a corporation. The owner will receive 1,000 shares of $75 par common stock for the original investment. Do the required entry and post to the general ledger using the excel templates provided. Once you updated the general ledger, create a Trial Balance to ensure that your debits equal your credits. Week 6: Financial Statements Creation and Analysis . Due by the end of Week 6 at 11:59 pm, ET. Once you have completed and checked your work with a trial balance from the previous Page 3 of 14 3300 words DX Text Predictions: On Accessibility: Investigate [ Focus + 100% 63'F 11:39 AM a Sunny 10/7/2022\" AutoSave if. on) [E accoos , Portfolio Project Directions ano Ruhrirs v y Search wito. A onauouonomiariynn a 9' lfll X File Home insert Draw Design Layout References Mailings ReView View Help F Comments K) V [an BuokAntiqua v 12 v AA AV Aav 15') e: a: ,O Q) g E 0 Paste igi I U V ale x A V g V A V ' Normal N0 Spacing Headmgl 7 Editing Dictate Editor Reuse V {3 i. 7 3 V ZAi Ti ' ' Files Undo Clipboard Er Font 5 Paragraph 5 Styles 5 Voice Sensitivity Editor Reuse Files V ledger, create a Trial Balance to ensure that your debits equal your credits. ' 'Week 6: Financial Statements Creation and Analysis I Due by the end of Week 6 at 11:59 pm, ET. Once you have completed and checked your work Wit a trial balance om the previous weeks, your employer has asked you to create Financial Statements. Be sure to do the income statement, retained earnings statement, and balance sheet for the company. Make sure you do . each Financial Statement in good form, including the appropriate Title Information for each statement. E} Text Predictions: 0n 'Week 7: Closing Entries and PostClosing Trial Balance and Final Submission to ePorttolio 0 Due by the end of Week 7 at 11:59 pm, ET. It is the final step in. the accounting cycle. You are at the end of the month, and you have to reset the temporary accounts prior to the new period starting. You must do the closing whales 1.11 order to complete this. Please close the appropriate accounts using le journal and ledgers again. Make sure to do a postdosing trial balance to ensure you are still in balance after the closing is finished. Continue to use the Excel templates provided. This is the final submission of your Portfolio Project. Incorporate instructor feedback, make any additional corrections, and submit to your ePorttolio. Upload your Portfolio Project to the Program Outcome in your ePorttolio listed below. Use the following naming convention: ACCTZUS Portfolio Project. if; Accessibility: Investigate CZD Focus 1'l:-15 AM 10i'7f2022 -- 0'. if sedans)- Application Guide - Se X Q google - Search X P Job Details - My Perfer X Bb Review Submission His X C Question 3 - W5: ONE( X * Dashboard X + X https://mybsc.bryantstratton.edu/webapps/assignment/uploadAssignment?action=showHistory&course_id=_92413_1&outcome_d... A @ G Coats 5-Ju call cost 9-Ju $1,000 $1,000 $200 11.Ju $1,200 $50 $1,200 15-Ju $1,000 51,20 22 -14 scoot 24-Ju $1,0 $1,10 $1,100 table for Sale ast of Goods Sold 11 -Ju 15 -Ju 16-Ju 22 -Ju 31,480 24-14 $1,05 $1, 10 $1,10 OK 63.F Sunny a W X 11:55 AM 10/7/2022