Using excel file fill all fields in detail ourse grade

$$ Understand how accounting transactions are recorded in the

accounting books

$$ Understand changes in the balance sheet, income statement and job

cost ledger as the result of different transactions

Evaluation:

There are $5$ transactions to be recorded in the exercise. All the

transactions need to be recorded in order to receive full grade. Use the

excel file provided.

Task:

For each transaction, determine the changes that occur, as a result of

that transaction, on:

$1.$ Transaction registry $($one per transaction$)$

$2.$ Ledgers $($Balance Statemen, Income Statement, Job Cost$)$

$3.$ Balance sheet

$4.$ Income statement.

Note: The assignment will need to be submitted in an Excel file using

the Learning Hub. Activities. Assignments. Assignment #$1$

ABC Builders has been hired to build a home. The following is a list

of some of the las accounting transactions associated with the

project for the year $2023.$ For each transaction, determine the

changes that occur on the registry, ledgers, the balance sheet, and

the income statement.

 

All costs are billed to project code $1005.$The appropriate cost type

$($M$,$ L$,$ or E$)$ needs to be added to the job cost code.

$1.$ On Dec $13$th the labour time cards were entered into the

accounting system. The following costs were recorded: wages

due to employees $$32,445$; employee life insurance $$2,654$;

Medicare $($insurance$)$ $$652$; CPP $$456$; EI $$335$; workers$$

compensation $($insurance$)$ $$625\mathrm{.}92$; general liability

insurance $$645$; and employer$-$paid health insurance $$345.$

$2.$ On Dec $15$th the employees were paid for the time entered into

the accounting system on Dec $13$th$.$

$3.$ On December $31,$ the employee life insurance, Medicare, CPP$,$

EI$,$ workers$$ compensation, general liability, and employer$-$paid

health insurance premiums recorded on Dec $13$th were paid

$4.$ On December $24$ a bill for materials $($cement and sand$)$ in the

amount of $$5,760$ was entered into the accounting system.

$5.$ On December $31$st the project$$s client was billed $$659,000$ for

December$$s work.

Answer rating: 100% (QA)

To fill out the course grade details using the Excel file you would need to 1 Create a tr... View the full answer