After examining and analyzing the information seen in the two (2) tables below, use Excel to...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
After examining and analyzing the information seen in the two (2) tables below, use Excel to perform the following exercise. Use a different tab on the worksheet to m requested. Carmen Ramos started a Perfect Cleaning business. The following transactions January 2020: Date January 1 January 3 January January 4 Transaction Invested $25,000 in effect pa start the business. Purchased a business vehicle for $12,000 of which $3,000 was cash and the rest how stamo 3 Bought cleaning products for a total of $1,500 on credit. Paid for an EPA insurance policy (prepayment insurance) for $2,000 for the Whole year. January 5 Performed a one-click service e (f armed) in the amount of $2,100. January 10 Paid a down payment on the vehicle purchased for $500 January 15 Paid salaries to employees of $1,800. January 16 Performed cleaning work on a building on credit for $3,000. January 18 Performed cleaning work in some offices and received cash for $2,500. January 20 The customer who had the work performed on January 16 paid him $1,200. January 21 Paid $80 for gasoline for the business vehicle. January 22 Performed office cleaning work for $1,000 in cash. January 25 He paid $20 for gasoline for the business vehicle. January 28 Paid advertising expense $500. January 29 You made a withdrawal for personal use in the amount of $500. January 30 Paid salaries to employees of $1,800. io course The following list of accounts (chart of accounts) is the one used for The accounting books of the Cleaning company Perfect: Account number 111 112 128 130 157 158 201 202 212 301 305 400 632 633 710 715 712 720 Cash Accounts receivable Cleaning materials (cleaning supp Prepaid insurance Vehicle Nombi Accounts payable Notes payable Salaries payable Accumulated vehicle depreciation Carmen Ramos, capital Carmen Ramos, retirement (drawing) Tarifa ganada (fee earned) Gasoline and oil expense cue 1 1 Cleaning supplies expense Depreciation expense Advertising expense Insurance expense Salaries expense muc start The course 400 632 633 710 715 712 720 Tarifa ganada (fee earned) Gasoline and oil expense (soilense) Expense of cleaning materials (clean supplies expense) Depreciation expense (deprec on ex nse) Advertising expense (advertisir xper) Insurance expense (insurance expe e) Salaries expense (salaries expens 1. Journalize the transactions for the month of January in gen I jou al 2. Make (post) the entries in the ledger. 3. Prepare the unadjusted trial balance as of January 31, 2020. 4. Make the following adjustments: a. The depreciation of the equipment for one month is $350. b. One month of prepaid insurance expired. c. The balance of cleaning supplies inventory at the end of the month is $1,200 d. Unpaid employee salary is $600. 5. Prepare an Adjusted Trial Balance, 6 Prepare the following reports in your corresponding spreadsheet: a. Income and expense report (income statement) b. Statement of owner equity c. Balance sheet After examining and analyzing the information seen in the two (2) tables below, use Excel to perform the following exercise. Use a different tab on the worksheet to m requested. Carmen Ramos started a Perfect Cleaning business. The following transactions January 2020: Date January 1 January 3 January January 4 Transaction Invested $25,000 in effect pa start the business. Purchased a business vehicle for $12,000 of which $3,000 was cash and the rest how stamo 3 Bought cleaning products for a total of $1,500 on credit. Paid for an EPA insurance policy (prepayment insurance) for $2,000 for the Whole year. January 5 Performed a one-click service e (f armed) in the amount of $2,100. January 10 Paid a down payment on the vehicle purchased for $500 January 15 Paid salaries to employees of $1,800. January 16 Performed cleaning work on a building on credit for $3,000. January 18 Performed cleaning work in some offices and received cash for $2,500. January 20 The customer who had the work performed on January 16 paid him $1,200. January 21 Paid $80 for gasoline for the business vehicle. January 22 Performed office cleaning work for $1,000 in cash. January 25 He paid $20 for gasoline for the business vehicle. January 28 Paid advertising expense $500. January 29 You made a withdrawal for personal use in the amount of $500. January 30 Paid salaries to employees of $1,800. io course The following list of accounts (chart of accounts) is the one used for The accounting books of the Cleaning company Perfect: Account number 111 112 128 130 157 158 201 202 212 301 305 400 632 633 710 715 712 720 Cash Accounts receivable Cleaning materials (cleaning supp Prepaid insurance Vehicle Nombi Accounts payable Notes payable Salaries payable Accumulated vehicle depreciation Carmen Ramos,(capital Carmen Ramos, retirement (drawing) Tarifa ganada (fee earned) Gasoline and oil expense cue 1 1 Cleaning supplies expense Depreciation expense Advertising expense Insurance expense Salaries expense muc start The course 400 632 633 710 715 712 720 Tarifa ganada (fee earned) Gasoline and oil expense (soilense) Expense of cleaning materials (clean supplies expense) Depreciation expense (deprec on ex nse) Advertising expense (advertisir xper) Insurance expense (insurance expe e) Salaries expense (salaries expens 1. Journalize the transactions for the month of January in gen I jou al 2. Make (post) the entries in the ledger. 3. Prepare the unadjusted trial balance as of January 31, 2020. 4. Make the following adjustments: a. The depreciation of the equipment for one month is $350. b. One month of prepaid insurance expired. c. The balance of cleaning supplies inventory at the end of the month is $1,200 d. Unpaid employee salary is $600. 5. Prepare an Adjusted Trial Balance, 6 Prepare the following reports in your corresponding spreadsheet: a. Income and expense report (income statement) b. Statement of owner equity c. Balance sheet After examining and analyzing the information seen in the two (2) tables below, use Excel to perform the following exercise. Use a different tab on the worksheet to m requested. Carmen Ramos started a Perfect Cleaning business. The following transactions January 2020: Date January 1 January 3 January January 4 Transaction Invested $25,000 in effect pa start the business. Purchased a business vehicle for $12,000 of which $3,000 was cash and the rest how stamo 3 Bought cleaning products for a total of $1,500 on credit. Paid for an EPA insurance policy (prepayment insurance) for $2,000 for the Whole year. January 5 Performed a one-click service e (f armed) in the amount of $2,100. January 10 Paid a down payment on the vehicle purchased for $500 January 15 Paid salaries to employees of $1,800. January 16 Performed cleaning work on a building on credit for $3,000. January 18 Performed cleaning work in some offices and received cash for $2,500. January 20 The customer who had the work performed on January 16 paid him $1,200. January 21 Paid $80 for gasoline for the business vehicle. January 22 Performed office cleaning work for $1,000 in cash. January 25 He paid $20 for gasoline for the business vehicle. January 28 Paid advertising expense $500. January 29 You made a withdrawal for personal use in the amount of $500. January 30 Paid salaries to employees of $1,800. io course The following list of accounts (chart of accounts) is the one used for The accounting books of the Cleaning company Perfect: Account number 111 112 128 130 157 158 201 202 212 301 305 400 632 633 710 715 712 720 Cash Accounts receivable Cleaning materials (cleaning supp Prepaid insurance Vehicle Nombi Accounts payable Notes payable Salaries payable Accumulated vehicle depreciation Carmen Ramos, capital Carmen Ramos, retirement (drawing) Tarifa ganada (fee earned) Gasoline and oil expense cue 1 1 Cleaning supplies expense Depreciation expense Advertising expense Insurance expense Salaries expense muc start The course 400 632 633 710 715 712 720 Tarifa ganada (fee earned) Gasoline and oil expense (soilense) Expense of cleaning materials (clean supplies expense) Depreciation expense (deprec on ex nse) Advertising expense (advertisir xper) Insurance expense (insurance expe e) Salaries expense (salaries expens 1. Journalize the transactions for the month of January in gen I jou al 2. Make (post) the entries in the ledger. 3. Prepare the unadjusted trial balance as of January 31, 2020. 4. Make the following adjustments: a. The depreciation of the equipment for one month is $350. b. One month of prepaid insurance expired. c. The balance of cleaning supplies inventory at the end of the month is $1,200 d. Unpaid employee salary is $600. 5. Prepare an Adjusted Trial Balance, 6 Prepare the following reports in your corresponding spreadsheet: a. Income and expense report (income statement) b. Statement of owner equity c. Balance sheet After examining and analyzing the information seen in the two (2) tables below, use Excel to perform the following exercise. Use a different tab on the worksheet to m requested. Carmen Ramos started a Perfect Cleaning business. The following transactions January 2020: Date January 1 January 3 January January 4 Transaction Invested $25,000 in effect pa start the business. Purchased a business vehicle for $12,000 of which $3,000 was cash and the rest how stamo 3 Bought cleaning products for a total of $1,500 on credit. Paid for an EPA insurance policy (prepayment insurance) for $2,000 for the Whole year. January 5 Performed a one-click service e (f armed) in the amount of $2,100. January 10 Paid a down payment on the vehicle purchased for $500 January 15 Paid salaries to employees of $1,800. January 16 Performed cleaning work on a building on credit for $3,000. January 18 Performed cleaning work in some offices and received cash for $2,500. January 20 The customer who had the work performed on January 16 paid him $1,200. January 21 Paid $80 for gasoline for the business vehicle. January 22 Performed office cleaning work for $1,000 in cash. January 25 He paid $20 for gasoline for the business vehicle. January 28 Paid advertising expense $500. January 29 You made a withdrawal for personal use in the amount of $500. January 30 Paid salaries to employees of $1,800. io course The following list of accounts (chart of accounts) is the one used for The accounting books of the Cleaning company Perfect: Account number 111 112 128 130 157 158 201 202 212 301 305 400 632 633 710 715 712 720 Cash Accounts receivable Cleaning materials (cleaning supp Prepaid insurance Vehicle Nombi Accounts payable Notes payable Salaries payable Accumulated vehicle depreciation Carmen Ramos,(capital Carmen Ramos, retirement (drawing) Tarifa ganada (fee earned) Gasoline and oil expense cue 1 1 Cleaning supplies expense Depreciation expense Advertising expense Insurance expense Salaries expense muc start The course 400 632 633 710 715 712 720 Tarifa ganada (fee earned) Gasoline and oil expense (soilense) Expense of cleaning materials (clean supplies expense) Depreciation expense (deprec on ex nse) Advertising expense (advertisir xper) Insurance expense (insurance expe e) Salaries expense (salaries expens 1. Journalize the transactions for the month of January in gen I jou al 2. Make (post) the entries in the ledger. 3. Prepare the unadjusted trial balance as of January 31, 2020. 4. Make the following adjustments: a. The depreciation of the equipment for one month is $350. b. One month of prepaid insurance expired. c. The balance of cleaning supplies inventory at the end of the month is $1,200 d. Unpaid employee salary is $600. 5. Prepare an Adjusted Trial Balance, 6 Prepare the following reports in your corresponding spreadsheet: a. Income and expense report (income statement) b. Statement of owner equity c. Balance sheet
Expert Answer:
Answer rating: 100% (QA)
To perform the exercise using Excel you can follow these steps 1 Open a new Excel worksheet and create separate tabs for the general journal ledger trial balance adjustments adjusted trial balance inc... View the full answer
Related Book For
Essentials Of Business Statistics
ISBN: 9780078020537
5th Edition
Authors: Bruce Bowerman, Richard Connell, Emily Murphree, Burdeane Or
Posted Date:
Students also viewed these accounting questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Judy Baker is a new employee of Farnsdel and Babcock, LLP. Which of the following will provide proof of employment authorization for the completion of the I-9? 1. U.S. passport 2. U.S. military...
-
You have just accepted your first job out of college, which requires you to evaluate loan requests at Beach Front National Bank. The first loan request you receive is from Surfer Dude Enterprises, a...
-
Within a spaceship moving at 99% the speed of light, what do you notice about the onboard clocks?
-
For approximately 20 months, Robert E. McDonald perpetrated a scheme to solicit millions of dollars purportedly for a \($100\) million purchase by the RAI Entities and certain other related corporate...
-
Use the information in Exercise 5-6A to complete the following requirements. In Exercise 5-6A, Terry Industries produces two electronic decoders, P and Q. Decoder P is more sophisticated and requires...
-
Vanessa went to Florida and purchased a laptop for US$920.00 by converting his Canadian money at an exchange rate of C$1 = US$0.9254. After a month, he returned to Vancouver but the exchange rate...
-
What factors are involved in cash flow management as they relate to various payment methods? What kinds of payment terms might the business venture have with its vendor to help manage its cash flow?...
-
For each of the following, determine whether the item is a private good, impure public good or a pure public good. Explain your response based on the items characteristics. [2] Wilderness areas...
-
An accounting firm (ML) is having Nazri, Najib and Gan as its partners. The business of ML has been badly impacted during the Covid-19 pandemic. Advise all the partners in respect of the following...
-
If you could control any element of supply or demand in a health economy - (workers, services, ....open/ restrict/ etc) what would you do and why? Explaijn
-
A motel in New Orleans charges $90 per day for double occupancy and $80 per day for single occupancy during off-season. If 80 rooms are occupied for a total of $6930, how many rooms of each kind are...
-
Consider a monopolist with the (inverse) demand function: Pb = 372 - 8 Qb. Given an increasing marginal cost: mc = 69 + 7 Q, how much profit does the monopolist earn ? (Assume fixed costs = 68 .)
-
70 logerithen natural Sa [P] In %3D il
-
1A. If the researcher is concerned about the number of variables, the nature of the analysis, and completion rates, then, he/she is at which stage of the sampling design process (Figure 11.1 in the...
-
Consider three stock funds, which we will call Stock Funds 1, 2, and 3. Suppose that Stock Fund 1 has a mean yearly return of 10.93 percent with a standard deviation of 41.96 percent, Stock Fund 2...
-
A product is assembled using 10 different components, each of which must meet specifications for five different quality characteristics. Suppose that there is a .9973 probability that each individual...
-
A companys manager is considering simplification of a travel voucher form. In order to assess the costs associated with erroneous travel vouchers, the manager must estimate the total number of such...
-
Avon Technical Institute has used the following budgeted amounts for its controllable costs during 2020. Required (a) Prepare a budget performance report for 2020 by preparing a budget for each cost...
-
Hua Chang Resort has prepared the following budgeted amounts for its costs for 2020. Hua Chang has 32 luxury rooms available in the resort. It operates 365 days of the year. Required (a) Prepare a...
-
The Cloudlands Spa Resort has 100 residential villas to accommodate guests. The accountant for the resort has asked you, the marketing manager, to prepare a budget for expected relaxation treatment...
Study smarter with the SolutionInn App