From the list of accounts provided on the Raw Data Prepare, using Excel: 1. A Trial Balance
Question:
From the list of accounts provided on the Raw Data Prepare, using Excel:
1. A Trial Balance for both years (each one on a separate tab) Refer to financial accounting text for order of accounts on a trial balance.
2. An Income Statement (including simple EPS calculation) for both years on the same worksheet tab,
3. Statement of Retained Earnings for both years on the same worksheet tab and
4. Balance Sheet for the end of each year on the same worksheet tab,
5. A Statement of Cash Flows for 2017 only and
6. Statement of Stockholders' Equity for 2017 only.
7. Be sure to include a heading on each financial statement in good form. Format the statements correctly. Refer to a financial accounting text or online resources for help. You should have a total of 8 worksheet tabs.
8. Use global (3D) formulas - in other words, refer to cells on other worksheets in your formulas. YOU MUST USE 3-D formulas throughout each worksheet. The ONLY worksheet that should have the hard-coded or typed financial information or words is the first one where the raw data is imported. Every other sheet MUST have ONLY text or formulas/functions. (Few Exceptions like names of subtotals and totals and the Cash Flow Statement)
In addition to the information above, you also need to know the following:
1) The long-term investments were purchased at cost.
2) The land that was sold had originally cost $325,000 and was sold for $490,000 Cash,
3) Treasury Stock, 5000 shares, were purchased in 2017 for $40,000
4) 20,000 shares of common stock were issued in 2017 at a price of $15 per share
College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker