stock holders ’ equity tabclassified balance sheet tabpost B u s i n e s s F i n a n c e
I’ll provide all files from professor: Project Excel template (Attached – Click on the “Project” tab in the Excel file for the Journal entries)
I’ll provide the following additional files: Bank Statement, Service invoice July 12, Service invoice July 20, Service invoice July 31, and Stock certificate.
These are your Accounting Cycle steps:
T-accounts are located in General Ledger (GL) in three tabs: General Ledger-Asset, General Ledger-Liability, and General Ledger-Equity.
1. Journalize daily transactions and Post Journal entries to T-accounts
2. Prepare Bank reconciliation.
3. Journalize and Post Adjusting bank recon entries
4. Prepare Trial balance, then post Trial balance into Worksheet, then finish the worksheet to the end.
5. Use the worksheet to do adjusting entries and then post them to T-accounts
6. Prepare Financial Statements like Income Statement, Retained Earnings, and Balance Sheet
7. Close Temporary Accounts and post to T-Accounts
8. Prepare Post-closing TB
After your Excel file is ready. Prepare a Memorandum on a Word document. (See below)
To receive full credit, you must build the spreadsheet using the Excel template provided.
You will complete a Problem as your project on a multi-page, formulated, interconnected Excel sheet including the following tabs:
General Journal Tab
General Ledger – Asset Tab
General Ledger – Liability Tab
General Ledger – Equity Tab
Income statement and Stock Holders’ Equity Tab
Classified Balance Sheet Tab
Post-Closing Trial Balance Tab
The Excel project of “Group X Consulting Inc.” must be submitted with a Business Memorandum.
A memorandum—usually known as a memo—is a document which is most commonly used for internal communication between coworkers or members of a department. In our case, the Board of Directors is concerned about this year profitability. Each issue in a memorandum needs one paragraph plus you should start with one introduction at the beginning and finish with one conclusion at the end of the memorandum. You do not write unnecessary information in the memorandum. You should write only about requested issues. You need to write a memo to the board of director about their concern based on your prepared financial reports.
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