• Use Excel to create a set of accounts with balances for 36 different numbered accounts (using the Accounting Chart of Accounts Principles) Assets (1000s) Liabilities (2000s).... Start with an initial investment by the partners and distribute the capital across several Asset, Liability and Capital accounts. Remember to satisfy the Golden Rule of Accounting
  • 6 Asset accounts
  • 4 Liabilities accounts
  • 4 Capital & Drawings (at least 1 for each partner)
  • 2 Revenue accounts
  • 8 Expense accounts
  • 10 Heading and Total accounts
• Export a .pdf format of the Opening Trial Balance
• Create 15 transactions using source documents which would represent situations that might occur in the normal course of a merchandising business. ONLY 1 REPEAT OF THE SAME TYPE OF TRANSACTION IS ALLOWED Use a Variety & Be Creative Save to original Word Doc
• Include 5 additional transactions (for a total of 20) that involve; purchasing inventory, purchase returns and sales returns and assume that the company uses a perpetual system of accounting