Excel Assignment

Spreadsheet Applications Due Date: November 30, 2017 REQUIRED: Inc Use Excel to complete the requirements below for Food Lion, FOOD LION, INC. -EXCEL FINANCIAL STATEMENTS PREPARATION BACKGROUND Food Lion, Inc. operates a chain of retail food supermarkets in fourteen states, principally located in the Southeast. The company competes with national, regional, and local supermarket chains, supercenters, discount food stores, single unit stores, convenience stores and warehouse clubs. The company's stores sell a wide variety of groceries, produce, meats, diary products, seafood, frozen food, deli/bakery and non-food items such as health and beauty aids and other household and personal products. Warehousing and distribution facilities, including a transportation fleet, are also owned and operated by the company. On December 28, 1996, 1,112 Food Lion stores were in operation employing 27,924 full-time and 45,246 part-time workers. Afier a series of mergers and acquisitions, in 1999 the company was acquired by the Belgium company, Delhaize America, one of the nation's largest supermarket companies. Today, as the largest subsidiary of the Delhaize Group, Food Lion has more than 1,300 stores with 73,000 employees located across the southeast, but mainly in the Carolinas and Virginia. To begin this project, set up the Chart of Accounts in Excel, enter beginning balances fromm TRIAL BALANCE provided at December 30, 2005 into the Chart of Accounts. These ARE BEGINNING BALANCES FOR 2006. Asset and expense accounts should have debit balances while liabilities, stockholders' equity, and sales accounts should have credit balances. The income statement accounts should have $0 opening balances. All figures are in thousands of dollars. All transactions and adjusting journal entries that affect Income Statement accounts should be posted to the Income Statement accounts and then closed to the "Retained Earnings" account. Spreadsheet Applications Due Date: November 30, 2017 REQUIRED: Inc Use Excel to complete the requirements below for Food Lion, FOOD LION, INC. -EXCEL FINANCIAL STATEMENTS PREPARATION BACKGROUND Food Lion, Inc. operates a chain of retail food supermarkets in fourteen states, principally located in the Southeast. The company competes with national, regional, and local supermarket chains, supercenters, discount food stores, single unit stores, convenience stores and warehouse clubs. The company's stores sell a wide variety of groceries, produce, meats, diary products, seafood, frozen food, deli/bakery and non-food items such as health and beauty aids and other household and personal products. Warehousing and distribution facilities, including a transportation fleet, are also owned and operated by the company. On December 28, 1996, 1,112 Food Lion stores were in operation employing 27,924 full-time and 45,246 part-time workers. Afier a series of mergers and acquisitions, in 1999 the company was acquired by the Belgium company, Delhaize America, one of the nation's largest supermarket companies. Today, as the largest subsidiary of the Delhaize Group, Food Lion has more than 1,300 stores with 73,000 employees located across the southeast, but mainly in the Carolinas and Virginia. To begin this project, set up the Chart of Accounts in Excel, enter beginning balances fromm TRIAL BALANCE provided at December 30, 2005 into the Chart of Accounts. These ARE BEGINNING BALANCES FOR 2006. Asset and expense accounts should have debit balances while liabilities, stockholders' equity, and sales accounts should have credit balances. The income statement accounts should have $0 opening balances. All figures are in thousands of dollars. All transactions and adjusting journal entries that affect Income Statement accounts should be posted to the Income Statement accounts and then closed to the "Retained Earnings" account