Assignment:

In this assignment, you will provide T-charts, journal entries, and trial balances for the transactions listed below.

The T-charts can be performed in Excel or by hand on a piece of paper then added as a pdf file.

Journal entries and trail balances must be performed in Excel using the financial statement you submitted for your previous Financial Statements Assignment. You will update these financial statements each unit so save this file somewhere you can easily reference it.

Journal entries and trail balances must be performed in Excel using the financial statements below. You will update these financial statements each unit so save this file somewhere you can easily reference it.

Trial balances will be for all financial statements (income statement, balance sheet, job cost ledger, and equipment ledger).

Journal entries will be for the BALANCE SHEET only and will include:

Date of transaction

Account(s) affected

Debit and credit amounts for each transaction and account

Net change for each transaction and account

In Excel, you must include:

Data validation - list feature - for each transaction

Pivot table on a separate sheet

Net change for each account listed

Slicers for dates

Slicers for accounts

Transactions:

On Oct. 3, you take $400 worth of rebar out of inventory and take to the Kolegraff Residence Remodel.

On Oct. 13, your superintendent visits the project site to look at a problem with the framing. The superintendent is there for four hours. You record her time (but do not pay it) on Oct. 14. Her time will be charged to the project, and her hourly rate is as follows:

Salary: $55

Taxes: $2.50

Benefits, insurance, etc.: $6

During the week of October 9, your project engineer is busy at work getting trades on board for the project. The project engineer charges 20 hours of their time that week to the project, which you record (but do not pay) on Oct. 14. Their hourly rate is as follows:

Salary: $35

Taxes: $2

Benefits, insurance, etc.: $5

During the week of Oct. 9, your 4-person framing (1 foreperson, 3 laborers) crew worked exclusively on the Kolegraff Residence Remodel (8-hour days, 5 day of the week). You record their time on Oct. 14 (but do not pay them yet). Their wages are as follows : Foreperson

Wages: $29 per hour

Taxes: $140 per week

Benefits, insurance, etc.: $70.42 per week

Laborer (cost per laborer)

Wages: $24 per hour

Taxes: $115.68 per week

Benefits, insurance, etc.: $58.30 per week

During the week of Oct. 9, the foreperson of your crew uses Truck 1, which has all the small tools and supplies needed for the framing. The time for Truck 1 will be charged to the project. The truck is charged to the job for the days your crews worked on the project (time recorded on August 11), at a daily rate of $55.

On Oct. 21, you pay your superintendent, project engineer, and demolition crew for the work recorded in numbers 1, 2, and 3 above. All taxes and benefits, insurance, etc. are also paid at that time.