Answered step by step
Verified Expert Solution
Question
1 Approved Answer
We are asked to fill in the Excel spreadsheet and create a balance sheet, an income statement, and a statement of cash flows using the
We are asked to fill in the Excel spreadsheet and create a balance sheet, an income statement, and a statement of cash flows using the information in the left column of the Excel spreadsheet.
All of the information required is in the left column of the Excel spreadsheet. This is the only information given and it looks to be complete.
Are you anable to see the attached screenshots? I can see them on my end and all of the information is included in the left column of the Excel spreadsheet.
I enlarged the screenshot to be more legible.
AutoSave ofm ACCT 2100 Excel Project worksheet- blank [1)sx Excel Randy ParksG X File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do A . t D l@ln width Automatic. Gridiines Headings ' -B ..dia l Height: AutomaticView View Margins Orientation Size Print Breaks Background Print Ares Bring Print Print Foward Backward Pane Send Selection Align Group Rotate Effects- Titles Scale |100% Page Setup Scale to Fit Sheet Options During the year: Assets Liabilities Unearn Re Acc. Dep. AP 2 9 During the year: AR Allowance Inventory Prepaid Equip On April 1, borrowed $10,000 at 3% interest 10 per year. Interest is payable semi-annually 11 Purchased inventory on account, $82,000 12 Sold inventory for $90,000 on account 13 The inventory had cost $62,000 14 Collected $81,000 of the sales on account. 15 Paid $82,000 on accounts payable 16 Purchased inventory on account, $96,000 17 Paid $70,000 of the accounts payable 18 Paid salaries of $20,000 Estimated that 2% of sales on account will be 19 uncollectible Depreciated equipment using SL, 5-year life 20 $5,000 estimated salvage Recorded interest on the loan - first semi- 21 annual payment Recorded interest on the loan year-end 22 adjustment (3 months) Received notice of a lawsuit from a customer 23 The attorneys believe there is no legal basis 24 Rent expense 25 Earned Revenue 26 Ending Balance 27 28 Total Assets 29 Total Liabilities and Equity Sheet3 Sheet1 Ready count 4 148% 1:41 PM 7/18/2018 4 O Type here to searchStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started