MenuACCT 212: Course ProjectRequirementRequirement DescriptionWorksheet Name1Prepare the Journal Entries in the General Journal1 - Journal Entries2Post Journal Entries to the General Ledger2 - General Ledger3Prepare a Trial Balance3 - Trial Balance4Prepare the Adjusting Entries4 &5 - Adjusting Entries5Post Adjusting Entries to the General Ledger4 &5 -Adjusting Entries ( Use worksheet #2)6Prepare an Adjusted Trial Balance6- Adjusted TB7Prepare the Financial Statements7 - Financial Statements8Prepare the Closing Entries8&9 - Closing Entries ( use worksheet #2)9Post Closing Entries to the General Ledger8&9- General Ledger10Prepare the Post Closing Trial Balance10 - Post Closing Trial Balance11Compute Ratios11-Ratios12Interpret the Ratios12-Interpretation of Ratios Project InstructionsCourse Project OverviewThe Course Project consists of 10 Requirements for you to complete. The Course Project is due at the end of Week 6. See the Syllabus section ”Due Dates for Assignments & Exams” for due date information. All of the information you need to complete the Course Project is located in this Workbook. • There are eight worksheets in the workbook you will need to complete. • A list of March transactions • A Chart of Accounts reference sheet • A Grading Rubric to help explain what is expected. • Each worksheet has the Check Figures embedded as a comment. ScenarioYou’ve just secured a new client in your accounting practice, Bethany's Bicycle Corporation (BBC), a brand new small business specializing in bicycle repair. The owner, Bethany Beck, is a terrific cyclist and bike repair specialist, but definitely not an accountant. Your job is to helpBethany put his affairs in order. Luckily Bethany has only been in operation for a month and things have not gotten too out of hand yet! Bethany has to submit his financial statements to her investors and doesn’t know where to begin. It’s your job to go through the complete Accounting cycle to prepare the financial statements for the BBC.RequirementsGuidelinesUse the embedded assistance in the template, guidance in your textbook, and examples in the weekly lectures to complete this project. Should you have any questions contact your professor.Milestone 1 is due in Week 4 - This includes project requirements 1-3.Milestone 2 is due in Week 6 - This includes project requirements 4-10. Before You Begin:  Review the Week 2 Lecture prior to starting work on this project.  Print the Chart of Accounts and October Transactions worksheets for your reference. You will need to refer to both throughout the project.  Review the Grading Criteria.  SAVE your work frequently in this workbook. March TransactionsDuring its first month of operation, the Bethany's Bicycle Corporation, which specializes in bicycle repairs, completed the following transactions.March TransactionsDateTransaction DescriptionMarch 1Began business by making a deposit in a company bank account of $20,000, in exchange for 2,000 shares of $10 par value.

1. MenuACCT 212: Course ProjectRequirementRequirement
DescriptionWorksheet Name1Prepare the Journal Entries in the
General Journal1 - Journal Entries2Post Journal Entries to the
General Ledger2 - General Ledger3Prepare a Trial Balance3 -
Trial Balance4Prepare the Adjusting Entries4 &5 - Adjusting
Entries5Post Adjusting Entries to the General Ledger4 &5 -
Adjusting Entries ( Use worksheet #2)6Prepare an Adjusted
Trial Balance6- Adjusted TB7Prepare the Financial Statements7
- Financial Statements8Prepare the Closing Entries8&9 -
Closing Entries ( use worksheet #2)9Post Closing Entries to the
General Ledger8&9- General Ledger10Prepare the Post Closing
Trial Balance10 - Post Closing Trial Balance11Compute
Ratios11-Ratios12Interpret the Ratios12-Interpretation of
Ratios
Project InstructionsCourse Project OverviewThe Course Project
consists of 10 Requirements for you to complete. The Course
Project is due at the end of Week 6. See the Syllabus section
”Due Dates for Assignments & Exams” for due date
information. All of the information you need to complete the
Course Project is located in this Workbook.
• There are eight worksheets in the workbook you will need to
complete.
• A list of March transactions
• A Chart of Accounts reference sheet
• A Grading Rubric to help explain what is expected.
• Each worksheet has the Check Figures embedded as a
comment.
ScenarioYou’ve just secured a new client in your accounting
practice, Bethany's Bicycle Corporation (BBC), a brand new
small business specializing in bicycle repair. The owner,
Bethany Beck, is a terrific cyclist and bike repair specialist, but
definitely not an accountant. Your job is to helpBethany put his
affairs in order. Luckily Bethany has only been in operation for
a month and things have not gotten too out of hand yet! Bethany

2. has to submit his financial statements to her investors and
doesn’t know where to begin. It’s your job to go through the
complete Accounting cycle to prepare the financial statements
for the BBC.RequirementsGuidelinesUse the embedded
assistance in the template, guidance in your textbook, and
examples in the weekly lectures to complete this project.
Should you have any questions contact your professor.Milestone
1 is due in Week 4 - This includes project requirements 1-
3.Milestone 2 is due in Week 6 - This includes project
requirements 4-10.
Before You Begin:
project.
worksheets for your reference. You will need to refer to both
throughout the project.
March TransactionsDuring its first month of operation, the
Bethany's Bicycle Corporation, which specializes in bicycle
repairs, completed the following transactions.March
TransactionsDateTransaction DescriptionMarch 1Began
business by making a deposit in a company bank account of
$20,000, in exchange for 2,000 shares of $10 par value common
stock.March 1Paid the premium on a 1-year insurance policy,
$2,400.March 1Paid the current month's store rent expense,
$1,900.March 3Purchased repair equipment from Andrew
Company, $5,800. Paid $1,000 down and the balance was placed
on account. Payments will be $400.00 per month for 12 months.
The first payment is due 4/1. Note: Use Accounts Payable for
the Balance Due.March 8Purchased repair supplies from
Jackson Company on credit, $650.March 10Paid telephone bill
for March, $340.March 11Cash bicycle repair revenue for the
first third of March, $1,650.March 18Made payment to Jackson
Company, $400.March 20Cash bicycle repair revenue for the

3. second third of March, $2,450.March 31Cash bicycle repair
revenue for the last third of March, $1,250.March 31Paid the
current month's electice bill, $250.March 31Declared and paid
cash dividend of $1,000.
Chart of AccountsUse the following account descriptions for
journal entries.Chart of AccountsAccount TypeAccount
NumberAccount TitleNormal BalanceAssets111Cash
Debit117Prepaid Insurance Debit119Repair
SuppliesDebit144Repair Equipment Debit145Accum Dep -
Repair Equipment CreditLiabilities212Accounts Payable
Credit213Income Tax PayableCreditStockholders
Equity311Common Stock Credit312Retained Earnings
Credit313Dividends DebitRevenue411Bicycle Repair
RevenueCreditExpenses511Store Rent Expense
Debit512Telephone Expense Debit513Insurance Expense
Debit514Repair Supplies Expense Debit515Dep Expense -
Repair Equipment Debit516Income Tax Expense
Debit517Electric ExpenseDebit
1 - Journal EntriesREQUIREMENT #1: Prepare journal entries
to record the March transactions in the General Journal below.
Remember that Debits must equal Credits—All of your Journal
Entries should balance.General JournalDateAccount Number
from Chart of Accounts tabAccount Title from Chart of
Accounts tabDebitCredit0
Harris, Nicole: Debits = $38,090
- 0
Harris, Nicole: Credits = $38,090
Journal Entries
Once you've completed this requirement print your General
Journal to complete Requirement #2 on the General Ledger
worksheet.
2 - General LedgerREQUIREMENT #2: Post the March journal

4. entries to the following T-Accounts and compute ending
balances.DateCash (111)
DeVry: The balance of the Cash account after posting journal
entries for Part A should be $18,060
.DateBicycle Repair Revenue (411)Prepaid Insurance (117)Store
Rent Expense (511)Repair Supplies (119)Telephone Expense
(512)Repair Equipment (144)Insurance Expense (513)Accum.
Depr.-Repair Equipment (145)Repair Supplies Expense
(514)Accounts Payable (212)Depr. Exp.-Repair Equipment
(515)Income Taxes Payable (213)Income Taxes Expense
(516)Common Stock (311)Electric Expense (517)Retained
Earnings (312)Dividends (313)
This worksheet will be used to complete Requirements #2, #5
and #9. Instructions for #5 can be found on the Adjusting
Entries Worksheet. Instructions for #9 can be found on the
Closing Entries Worksheet.
3 - Trial BalanceREQUIREMENT #3: Prepare a trial balance for
March in the space below.Bethany's Bicycle Corporation
Trial Balance
March 31AccountAccountBalanceNumber TitleDebitCredit0
User: Debit Balance = $30,400
0
User: Credit Balance = $30,400
Journal Entries
Only enter accounts that have a balance.
4&5 Adjusting EntriesRequirement #4: Prepare adjusting entries
using the following information in the General Journal below.
Show your calculations!
a) One month's insurance has expired.
b) The remaining inventory of repair supplies is $200.

5. c) The estimated depreciation on repair equipment is $120.
d) The estimated income taxes are $65. Requirement #5: Post
the adjusting entries on March 31 below to the General Ledger
T-accounts (Step 2) and compute adjusted balances. Just add to
the balances that are already listed. Requirement
#4DateAccount Number from Chart of Accounts tabAccount
Title from Chart of Accounts tabDebitCredit0
Bruce: Balance $ 835.00
0
Bruce: Balance $835.00
Journal Entries
6 - Adjusted TBREQUIREMENT #6: Prepare an Adjusted Trial
Balance in the space below.Bethany's BicycleCorporation
Adjusted Trial Balance
March 31AccountAccountBalanceNumber TitleDebitCredit0
User: Debit Balance = $30,585
0
User: Credit Balance = $30,585
Journal Entries
Only enter accounts that have a balance.
7 - Financial StatementsRequirement #7: Prepare the financial
statements for Bethany's Bicycle Corporation as of March 31 in
the space below.
You will only be preparing the Income Statement, Statement of
Retained Earning, and the Balance Sheet.
The Statement of Cash Flows is a required Financial Statement,
but is not required for this project.Bethany's Bicycle

6. CorporationBethany's Bicycle CorporationBethany's Bicycle
CorporationIncome StatementStatement of Retained
EarningsBalance SheetFor the Month Ending March 31For the
Month Ending March 31March 31Revenues:Retained Earnings,
March 1Assets:Bicycle Repair RevenueAdd: Net
IncomeCashTotal RevenueSubtotalPrepaid InsuranceLess:
DividendsRepair SuppliesExpenses:Retained Earnings, March
31
User: Retained Earnings = $1,025
Repair EquipmentStore Rent ExpenseLess: Accum.
Depr.Telephone ExpenseTotal AssetsInsurance ExpenseRepair
Supplies Exp.Liabilities and Stockholders' EquityDepreciation
Exp.Liabilities:Income Taxes ExpenseAccounts PayableElectric
ExpenseIncome Taxes Payable Total ExpensesTotal
LiabilitiesNet IncomeStockholders' Equity:Common
StockRetained EarningsTotal Stockholders' EquityTotal
Liabilities & Stockholders' Equity
User: $26,140
User: $26,140
User: Net Income = $2,025
8&9- Closing EntriesRequirement #8: Prepare the closing
entries at March 31 in the General Journal below. Hint:Use the
balances for each account which appear on the Adjusted
Trial Balance for your closing entries.
Requirement #9: Post the closing entries to the T-Accounts on
the General Ledger ( Step 2) worksheet and compute ending

7. balances. Just add to the adjusted balances already listed.
General JournalDateAccount Number from Chart of Accounts
tabAccount Title from Chart of Accounts tabDebitCredit0
Bruce: Debit $9,675
0
Bruce: Credit $9,675
Journal Entries
See the Week 2 Lecture for examples of how to complete
closing entries.
10- Post Closing Trial BalanceRequirement #10: Prepare a post-
closing trial balance as of March 31 in the space
below.Bethany's Bicycle Corporation
Post-Closing Trial Balance
March 31AccountAccountBalanceNumber TitleDebitCredit- 0
User: Debits = $26,260- 0
User: Credits = 26,260
Journal Entries
Grading Rubric (2)Course Project Grading Rubric -
StudentsCriteriaExcellentGoodFairPoorUnacceptable Points
AvailableMilestone 1Step 1 —Journal
EntriesJournal entries use accurate accounts and amounts; and
debits and credits are used correctly. Journal entries mostly use
accurate accounts and amounts; and debits and credits are used
correctly.Journal entries have some errors in use of accounts
and amounts; and debits and credits are only somewhat used
correctly.Journal entries have some errors in use of accounts
and amounts; and debits and credits are not used correctly.The
submission does not meet this requirement.Step 1 Grading
Scale30-2726-2423-2120-1817-030Milestone 1Step 2 Ledger

8. Posting and Balancing Posting is done in the correct accounts
and at the correct side (Dr./Cr.) and balances are correct.
Posting is done mostly in the correct accounts and mostly at the
correct side(Dr./Cr.) and balances are mostly correct. Posting
has errors with incorrect accounts and incorrect debits/credits
and incorrect balances. Listing of accounts is mostly incorrect
with most incorrect accounts and incorrect Dr./Cr. Most ledger
balances are incorrect. The submission does not meet this
requirement, or posting is not done at all. Step 2 Grading
Scale20-1817-1615-1413-1211-020Milestone 1Step 3 -
Unadjusted Trial Balance Accounts are listed correctly and in
the proper order leading to an accurate trial balance.Most
accounts are listed correctly leading to a mostly correct trial
balance. Listing of accounts has several errors leading to
incorrect trial balance. Listing of accounts is done poorly or not
at all, leading to inaccurate or no trial balance.The submission
does not meet this requirement.Step 3 Grading Scale21-1817-
1615-1413-1211-021Milestone 1CO2 - Given economic
transactions and events, analyze and record them leading to the
development and analysis of a trial balance and reports
important for decision-making. The student's submission fully
analyzes and records all transactions, and provides a complete
and accurate trial balance. The student's submission properly
analyzes and records the given transactions, and provides a trial
balance that is accurate based on the entries recorded.The
student's submission demonstrates analysis and recording of
transactions, although several analysis errors exist, leading to a
trial balance that is somewhat inaccurate.The student's
submission demonstrates limited analysis and recording of
transactions, and significant errors exist, leading to an
inaccurate or incomplete trial balance. The student's submission
does not meet the criteria of the outcome. CO 2 Grading
Scale432104Milestone 2Step 4 —Adjusting
Journal EntriesJournal entries use accurate accounts and
amounts; and debits and credits are used correctly. Journal
entries mostly use accurate accounts and amounts; and debits

9. and credits are used correctly.Journal entries have some errors
in use of accounts and amounts; and debits and credits are only
somewhat used correctly.Journal entries have some errors in use
of accounts and amounts; and debits and credits are not used
correctly.The submission does not meet this requirement.Step 4
Grading Scale25-2322-2019-1716-1413-025Milestone 2Steps 5
and 6 —Posted and Adjusted Trial Balance.
Posting is correct leading to an accurate trial balance.Posting is
mostly correct leading to a mostly correct trial balance.Posting
has several errors leading to a trial balance with several
errors.Posting is done poorly or not at all, leading to inaccurate
or no trial balance.The submission does not meet this
requirement.Steps 5/6 Grading Scale15-1413-1211-109-87-
015Milestone 2Step 7.1 - Income StatementThe income
statement is prepared completely and accurately. The income
statement is prepared accurately, but may have some minor
errors.The income statement is prepared with several errors.The
income statement is prepared with significant errors.The
submission does not meet this requirement.Step 7.1 Grading
Scale10-98765-010Milestone 2Step 7.2 -Retained Earnings
StatementThe retained earnings statement is prepared
completely and accurately.The retained earnings statement is
prepared accurately, but may have some minor errors.The
retained earnings statement is prepared with several errors.The
retained earnings statement is prepared with significant
errors.The submission does not meet this requirement.Step 7.2
Grading Scale65432-06Milestone 2Step 7.3 - Balance SheetThe
balance sheet is prepared completely and accurately.The
balance sheet is prepared accurately and mostly, but may have
some minor errors.The balance sheet is prepared with several
errors.The balance sheet is prepared with significant errors.The
submission does not meet this requirement.Step 7.3 Grading
Scale15-1413-1211-109-87-015Milestone 2Step 8
—Closing Journal EntriesJournal entries use accurate accounts
and amounts; and debits and credits are used correctly. Journal
entries mostly use accurate accounts and amounts; and debits

10. and credits are used correctly.Journal entries have some errors
in use of accounts and amounts; and debits and credits are only
somewhat used correctly.Journal entries have some errors in use
of accounts and amounts; and debits and credits are not used
correctly.The submission does not meet this requirement.Step 8
Grading Scale25-2322-2019-1716-1413-025Milestone 2Steps 9
and 10 —Posted and Post-closing Trial BalancePosting is
correct leading to an accurate trial balance. Posting is mostly
correct leading to a mostly correct trial balance.Posting has
several errors leading to a trial balance with several
errors.Posting is done poorly or not at all, leading to inaccurate
trial balance, or no trial balance was prepared.The submission
does not meet this requirement.Steps 9-10 Grading Scale25-
2322-2019-1716-1413-025Milestone 2CO 3 - Given a trial
balance sheet and economic financial information, analyze and
record adjusting and closing journal entries leading to the
creation and analysis of financial statements using the accrual
accounting method.The student's submission fully and properly
analyzes the adjusting information, resulting in an accurate
adjusted trial balance and financial statements. The submission
also contains closing entries that are fully and accurately
prepared, resulting in an accurate post-closing trial balance.The
student's submission analyzes the adjusting information,
resulting in a mostly accurate adjusted trial balance and
financial statements. The submission also contains closing
entries that are accurately prepared, resulting in a mostly
accurate post-closing trial balance.The student's submission
demonstrates analysis of the adjusting information and the
preparation of an adjusted trial balance and financial
statements, although several errors exist. The closing entries are
prepared with several errors, resulting in the completion of a
post-closing trial balance, that has limited accuracy. The
student's submission demonstrates limited analysis of the
adjusting information and the preparation of an adjusted trial
balance and financial statements, however significant errors
exist. The closing entries are prepared with significant errors,

11. resulting in an inaccurate post-closing trial balance. The
student's submission does not meet the criteria of the outcome.
CO 3 Grading Scale432104
RequirementRequirement DescriptionWorksheet Name
1
Prepare the Journal Entries in the General Journal1 - Journal
Entries
2
Post Journal Entries to the General Ledger2 - General Ledger
3
Prepare a Trial Balance3 - Trial Balance
4
Prepare the Adjusting Entries4 &5 - Adjusting Entries
5
Post Adjusting Entries to the General Ledger4 &5 -Adjusting
Entries ( Use worksheet #2)
6
Prepare an Adjusted Trial Balance6- Adjusted TB
7
Prepare the Financial Statements7 - Financial Statements
8
Prepare the Closing Entries8&9 - Closing Entries ( use
worksheet #2)
9
Post Closing Entries to the General Ledger8&9- General Ledger
10
Prepare the Post Closing Trial Balance10 - Post Closing Trial
Balance
11
Compute Ratios11-Ratios
12
Interpret the Ratios12-Interpretation of Ratios
ACCT 212: Course Project
MenuACCT 212: Course ProjectRequirementRequirement
DescriptionWorksheet Name1Prepare the Journal Entries in the

12. General Journal1 - Journal Entries2Post Journal Entries to the
General Ledger2 - General Ledger3Prepare a Trial Balance3 -
Trial Balance4Prepare the Adjusting Entries4 &5 - Adjusting
Entries5Post Adjusting Entries to the General Ledger4 &5 -
Adjusting Entries ( Use worksheet #2)6Prepare an Adjusted
Trial Balance6- Adjusted TB7Prepare the Financial Statements7
- Financial Statements8Prepare the Closing Entries8&9 -
Closing Entries ( use worksheet #2)9Post Closing Entries to the
General Ledger8&9- General Ledger10Prepare the Post Closing
Trial Balance10 - Post Closing Trial Balance11Compute
Ratios11-Ratios12Interpret the Ratios12-Interpretation of
Ratios
Project InstructionsCourse Project OverviewThe Course Project
consists of 10 Requirements for you to complete. The Course
Project is due at the end of Week 6. See the Syllabus section
”Due Dates for Assignments & Exams” for due date
information. All of the information you need to complete the
Course Project is located in this Workbook.
• There are eight worksheets in the workbook you will need to
complete.
• A list of March transactions
• A Chart of Accounts reference sheet
• A Grading Rubric to help explain what is expected.
• Each worksheet has the Check Figures embedded as a
comment.
ScenarioYou’ve just secured a new client in your accounting
practice, Bethany's Bicycle Corporation (BBC), a brand new
small business specializing in bicycle repair. The owner,
Bethany Beck, is a terrific cyclist and bike repair specialist, but
definitely not an accountant. Your job is to helpBethany put his
affairs in order. Luckily Bethany has only been in operation for
a month and things have not gotten too out of hand yet! Bethany
has to submit his financial statements to her investors and
doesn’t know where to begin. It’s your job to go through the
complete Accounting cycle to prepare the financial statements
for the BBC.RequirementsGuidelinesUse the embedded

13. assistance in the template, guidance in your textbook, and
examples in the weekly lectures to complete this project.
Should you have any questions contact your professor.Milestone
1 is due in Week 4 - This includes project requirements 1-
3.Milestone 2 is due in Week 6 - This includes project
requirements 4-10.
Before You Begin:
project.
Accounts and October Transactions
worksheets for your reference. You will need to refer to both
throughout the project.
March TransactionsDuring its first month of operation, the
Bethany's Bicycle Corporation, which specializes in bicycle
repairs, completed the following transactions.March
TransactionsDateTransaction DescriptionMarch 1Began
business by making a deposit in a company bank account of
$20,000, in exchange for 2,000 shares of $10 par value common
stock.March 1Paid the premium on a 1-year insurance policy,
$2,400.March 1Paid the current month's store rent expense,
$1,900.March 3Purchased repair equipment from Andrew
Company, $5,800. Paid $1,000 down and the balance was placed
on account. Payments will be $400.00 per month for 12 months.
The first payment is due 4/1. Note: Use Accounts Payable for
the Balance Due.March 8Purchased repair supplies from
Jackson Company on credit, $650.March 10Paid telephone bill
for March, $340.March 11Cash bicycle repair revenue for the
first third of March, $1,650.March 18Made payment to Jackson
Company, $400.March 20Cash bicycle repair revenue for the
second third of March, $2,450.March 31Cash bicycle repair
revenue for the last third of March, $1,250.March 31Paid the
current month's electice bill, $250.March 31Declared and paid
cash dividend of $1,000.

14. Chart of AccountsUse the following account descriptions for
journal entries.Chart of AccountsAccount TypeAccount
NumberAccount TitleNormal BalanceAssets111Cash
Debit117Prepaid Insurance Debit119Repair
SuppliesDebit144Repair Equipment Debit145Accum Dep -
Repair Equipment CreditLiabilities212Accounts Payable
Credit213Income Tax PayableCreditStockholders
Equity311Common Stock Credit312Retained Earnings
Credit313Dividends DebitRevenue411Bicycle Repair
RevenueCreditExpenses511Store Rent Expense
Debit512Telephone Expense Debit513Insurance Expense
Debit514Repair Supplies Expense Debit515Dep Expense -
Repair Equipment Debit516Income Tax Expense
Debit517Electric ExpenseDebit
1 - Journal EntriesREQUIREMENT #1: Prepare journal entries
to record the March transactions in the General Journal below.
Remember that Debits must equal Credits—All of your Journal
Entries should balance.General JournalDateAccount Number
from Chart of Accounts tabAccount Title from Chart of
Accounts tabDebitCreditColumn11-
Mar111Cash20,000311Common Stock (equity)20,0001-
Mar117Prepaid Insurance 2,400111Cash2,4001-Mar511Store
Rent Expenses 1,900111Cash1,9003-Mar144Repair Equipment
5,800212Accounts Payable 4,800111Cash1,0008-Mar119Repair
Supplies 650212accounts Payable 65010-Mar512Telephone
Expenses 340111Cash34011-Mar411Bicycle Repair
Revenue1,650The debit account is always on top and credits
below111Cash 1,65018-Mar212accounts Payable 400111Cash
40020-Mar411Bicycle Repair Revenue2,450The debit account is
always on top and credits below111Cash 2,45031-
Mar411Bicycle Repair Revenue1,250111Cash 1,25031-
Mar517Electric Expense250111Cash 25031-Mar313Dividends
1,000111Cash 1,00038,090
Harris, Nicole: Debits = $38,090
38,090

15. Harris, Nicole: Credits = $38,090
Journal Entries
Once you've completed this requirement print your General
Journal to complete Requirement #2 on the General Ledger
worksheet.
2 - General LedgerREQUIREMENT #2: Post the March journal
entries to the following T-Accounts and compute ending
balances.DateCash (111)
DeVry: The balance of the Cash account after posting journal
entries for Part A should be $18,060
.DateBicycle Repair Revenue (411)1-Mar20,00011-Mar1,6501-
Mar2,40020-Mar2,4501-Mar1,90031-Mar1,2503-
Mar1,000bal5,35010-Mar34011-Mar1,65018-Mar40020-
Mar2,45031-Mar1,25031-Mar25031-Mar1,000Bal
18,06018,060This is how excel would be usedPrepaid Insurance
(117)Store Rent Expense (511)March 1March 1. 2,400March
1 1900Trial Balancebal. 2,400bal 1,900Repair
Supplies (119)Telephone Expense (512)March 8march 8
650march 10. 340Trial Balancebal 650bal 340Repair
Equipment (144)Insurance Expense (513)march 3 5,8001-
Mar2,400I don’t see this entry in the Journal entriesbal.
5,800bal 2,400Accum. Depr.-Repair Equipment
(145)Repair Supplies Expense (514)Accounts Payable
(212)Depr. Exp.-Repair Equipment (515)March 3
4,800march 8 650march 18. 400bal. 5050Income
Taxes Payable (213)Income Taxes Expense (516)Common Stock
(311)Electric Expense (517)march 1 20,000march 31 250bal.
20,00bal 250Retained Earnings (312)Dividends
(313)March 31. 1000bal 1,000
This worksheet will be used to complete Requirements #2, #5
and #9. Instructions for #5 can be found on the Adjusting

16. Entries Worksheet. Instructions for #9 can be found on the
Closing Entries Worksheet.
3 - Trial BalanceREQUIREMENT #3: Prepare a trial balance for
March in the space below.Bethany's Bicycle Corporation
Trial Balance
March 31AccountAccountBalanceNumber
TitleDebitCredit111Cash18,060119Repair
Supplies650144Repair Equipment5,800117prepaid insurance
2,400212acounts payable 5,050311common
stock20,000313dividends1,000411bicycle repair
revenue5,350511store rent expenses1,900512telephone
expense340517electric expense250These should be in numerical
order30,400
User: Debit Balance = $30,400
30,400
User: Credit Balance = $30,400
Journal Entries
Only enter accounts that have a balance.
4&5 Adjusting EntriesRequirement #4: Prepare adjusting entries
using the following information in the General Journal below.
Show your calculations!
a) One month's insurance has expired.
b) The remaining inventory of repair supplies is $200.
c) The estimated depreciation on repair equipment is $120.
d) The estimated income taxes are $65. Requirement #5: Post
the adjusting entries on March 31 below to the General Ledger
T-accounts (Step 2) and compute adjusted balances. Just add to
the balances that are already listed. Requirement
#4DateAccount Number from Chart of Accounts tabAccount
Title from Chart of Accounts tabDebitCredit0
Bruce: Balance $ 835.00

17. 0
Bruce: Balance $835.00
Journal Entries
6 - Adjusted TBREQUIREMENT #6: Prepare an Adjusted Trial
Balance in the space below.Bethany's BicycleCorporation
Adjusted Trial Balance
March 31AccountAccountBalanceNumber TitleDebitCredit0
User: Debit Balance = $30,585
0
User: Credit Balance = $30,585
Journal Entries
Only enter accounts that have a balance.
7 - Financial StatementsRequirement #7: Prepare the financial
statements for Bethany's Bicycle Corporation as of March 31 in
the space below.
You will only be preparing the Income Statement, Statement of
Retained Earning, and the Balance Sheet.
The Statement of Cash Flows is a required Financial Statement,
but is not required for this project.Bethany's Bicycle
CorporationBethany's Bicycle CorporationBethany's Bicycle
CorporationIncome StatementStatement of Retained
EarningsBalance SheetFor the Month Ending March 31For the
Month Ending March 31March 31Revenues:Retained Earnings,
March 1Assets:Bicycle Repair RevenueAdd: Net
IncomeCashTotal RevenueSubtotalPrepaid InsuranceLess:
DividendsRepair SuppliesExpenses:Retained Earnings, March
31

18. User: Retained Earnings = $1,025
Repair EquipmentStore Rent ExpenseLess: Accum.
Depr.Telephone ExpenseTotal AssetsInsurance ExpenseRepair
Supplies Exp.Liabilities and Stockholders' EquityDepreciation
Exp.Liabilities:Income Taxes ExpenseAccounts PayableElectric
ExpenseIncome Taxes Payable Total ExpensesTotal
LiabilitiesNet IncomeStockholders' Equity:Common
StockRetained EarningsTotal Stockholders' EquityTotal
Liabilities & Stockholders' Equity
User: $26,140
User: $26,140
User: Net Income = $2,025
8&9- Closing EntriesRequirement #8: Prepare the closing
entries at March 31 in the General Journal below. Hint:Use the
balances for each account which appear on the Adjusted
Trial Balance for your closing entries.
Requirement #9: Post the closing entries to the T-Accounts on
the General Ledger ( Step 2) worksheet and compute ending
balances. Just add to the adjusted balances already listed.
General JournalDateAccount Number from Chart of Accounts
tabAccount Title from Chart of Accounts tabDebitCredit0
Bruce: Debit $9,675
0
Bruce: Credit $9,675

19. Journal Entries
See the Week 2 Lecture for examples of how to complete
closing entries.
10- Post Closing Trial BalanceRequirement #10: Prepare a post-
closing trial balance as of March 31 in the space
below.Bethany's Bicycle Corporation
Post-Closing Trial Balance
March 31AccountAccountBalanceNumber TitleDebitCredit- 0
User: Debits = $26,260- 0
User: Credits = 26,260
Journal Entries
Grading Rubric (2)Course Project Grading Rubric -
StudentsCriteriaExcellentGoodFairPoorUnacceptable Points
AvailableMilestone 1Step 1 —Journal
EntriesJournal entries use accurate accounts and amounts; and
debits and credits are used correctly. Journal entries mostly use
accurate accounts and amounts; and debits and credits are used
correctly.Journal entries have some errors in use of accounts
and amounts; and debits and credits are only somewhat used
correctly.Journal entries have some errors in use of accounts
and amounts; and debits and credits are not used correctly.The
submission does not meet this requirement.Step 1 Grading
Scale30-2726-2423-2120-1817-030Milestone 1Step 2 Ledger
Posting and Balancing Posting is done in the correct accounts
and at the correct side (Dr./Cr.) and balances are correct.
Posting is done mostly in the correct accounts and mostly at the
correct side(Dr./Cr.) and balances are mostly correct. Posting
has errors with incorrect accounts and incorrect debits/credits
and incorrect balances. Listing of accounts is mostly incorrect
with most incorrect accounts and incorrect Dr./Cr. Most ledger
balances are incorrect. The submission does not meet this
requirement, or posting is not done at all. Step 2 Grading

20. Scale20-1817-1615-1413-1211-020Milestone 1Step 3 -
Unadjusted Trial Balance Accounts are listed correctly and in
the proper order leading to an accurate trial balance.Most
accounts are listed correctly leading to a mostly correct trial
balance. Listing of accounts has several errors leading to
incorrect trial balance. Listing of accounts is done poorly or not
at all, leading to inaccurate or no trial balance.The submission
does not meet this requirement.Step 3 Grading Scale21-1817-
1615-1413-1211-021Milestone 1CO2 - Given economic
transactions and events, analyze and record them leading to the
development and analysis of a trial balance and reports
important for decision-making. The student's submission fully
analyzes and records all transactions, and provides a complete
and accurate trial balance. The student's submission properly
analyzes and records the given transactions, and provides a trial
balance that is accurate based on the entries recorded.The
student's submission demonstrates analysis and recording of
transactions, although several analysis errors exist, leading to a
trial balance that is somewhat inaccurate.The student's
submission demonstrates limited analysis and recording of
transactions, and significant errors exist, leading to an
inaccurate or incomplete trial balance. The student's submission
does not meet the criteria of the outcome. CO 2 Grading
Scale432104Milestone 2Step 4 —Adjusting
Journal EntriesJournal entries use accurate accounts and
amounts; and debits and credits are used correctly. Journal
entries mostly use accurate accounts and amounts; and debits
and credits are used correctly.Journal entries have some errors
in use of accounts and amounts; and debits and credits are only
somewhat used correctly.Journal entries have some errors in use
of accounts and amounts; and debits and credits are not used
correctly.The submission does not meet this requirement.Step 4
Grading Scale25-2322-2019-1716-1413-025Milestone 2Steps 5
and 6 —Posted and Adjusted Trial Balance.
Posting is correct leading to an accurate trial balance.Posting is
mostly correct leading to a mostly correct trial balance.Posting

21. has several errors leading to a trial balance with several
errors.Posting is done poorly or not at all, leading to inaccurate
or no trial balance.The submission does not meet this
requirement.Steps 5/6 Grading Scale15-1413-1211-109-87-
015Milestone 2Step 7.1 - Income StatementThe income
statement is prepared completely and accurately. The income
statement is prepared accurately, but may have some minor
errors.The income statement is prepared with several errors.The
income statement is prepared with significant errors.The
submission does not meet this requirement.Step 7.1 Grading
Scale10-98765-010Milestone 2Step 7.2 -Retained Earnings
StatementThe retained earnings statement is prepared
completely and accurately.The retained earnings statement is
prepared accurately, but may have some minor errors.The
retained earnings statement is prepared with several errors.The
retained earnings statement is prepared with significant
errors.The submission does not meet this requirement.Step 7.2
Grading Scale65432-06Milestone 2Step 7.3 - Balance SheetThe
balance sheet is prepared completely and accurately.The
balance sheet is prepared accurately and mostly, but may have
some minor errors.The balance sheet is prepared with several
errors.The balance sheet is prepared with significant errors.The
submission does not meet this requirement.Step 7.3 Grading
Scale15-1413-1211-109-87-015Milestone 2Step 8
—Closing Journal EntriesJournal entries use accurate accounts
and amounts; and debits and credits are used correctly. Journal
entries mostly use accurate accounts and amounts; and debits
and credits are used correctly.Journal entries have some errors
in use of accounts and amounts; and debits and credits are only
somewhat used correctly.Journal entries have some errors in use
of accounts and amounts; and debits and credits are not used
correctly.The submission does not meet this requirement.Step 8
Grading Scale25-2322-2019-1716-1413-025Milestone 2Steps 9
and 10 —Posted and Post-closing Trial BalancePosting is
correct leading to an accurate trial balance. Posting is mostly
correct leading to a mostly correct trial balance.Posting has

22. several errors leading to a trial balance with several
errors.Posting is done poorly or not at all, leading to inaccurate
trial balance, or no trial balance was prepared.The submission
does not meet this requirement.Steps 9-10 Grading Scale25-
2322-2019-1716-1413-025Milestone 2CO 3 - Given a trial
balance sheet and economic financial information, analyze and
record adjusting and closing journal entries leading to the
creation and analysis of financial statements using the accrual
accounting method.The student's submission fully and properly
analyzes the adjusting information, resulting in an accurate
adjusted trial balance and financial statements. The submission
also contains closing entries that are fully and accurately
prepared, resulting in an accurate post-closing trial balance.The
student's submission analyzes the adjusting information,
resulting in a mostly accurate adjusted trial balance and
financial statements. The submission also contains closing
entries that are accurately prepared, resulting in a mostly
accurate post-closing trial balance.The student's submission
demonstrates analysis of the adjusting information and the
preparation of an adjusted trial balance and financial
statements, although several errors exist. The closing entries are
prepared with several errors, resulting in the completion of a
post-closing trial balance, that has limited accuracy. The
student's submission demonstrates limited analysis of the
adjusting information and the preparation of an adjusted trial
balance and financial statements, however significant errors
exist. The closing entries are prepared with significant errors,
resulting in an inaccurate post-closing trial balance. The
student's submission does not meet the criteria of the outcome.
CO 3 Grading Scale432104
RequirementRequirement DescriptionWorksheet Name
1
Prepare the Journal Entries in the General Journal1 - Journal
Entries
2
Post Journal Entries to the General Ledger2 - General Ledger

23. 3
Prepare a Trial Balance3 - Trial Balance
4
Prepare the Adjusting Entries4 &5 - Adjusting Entries
5
Post Adjusting Entries to the General Ledger4 &5 -Adjusting
Entries ( Use worksheet #2)
6
Prepare an Adjusted Trial Balance6- Adjusted TB
7
Prepare the Financial Statements7 - Financial Statements
8
Prepare the Closing Entries8&9 - Closing Entries ( use
worksheet #2)
9
Post Closing Entries to the General Ledger8&9- General Ledger
10
Prepare the Post Closing Trial Balance10 - Post Closing Trial
Balance
11
Compute Ratios11-Ratios
12
Interpret the Ratios12-Interpretation of Ratios
ACCT 212: Course Project