The document provides instructions for a course project involving completing the accounting cycle for a new small business called Rawls Repair Corporation. It includes a list of transactions from October, a chart of accounts, and 10 requirements to journalize transactions, prepare trial balances, adjusting and closing entries, and final financial statements. Students are graded based on accuracy of journal entries, posting, calculations, and proper formatting of required financial reports.
In Preparation for 2020 this slide deck has information on:
-Fiscal Year-End Close Process
Create Fiscal Year Reporting Periods
1099 Preparation and Processing
Perdisco (MYOB Based) Practice Set Solution. Perdisco is an online test which assess the students ability. After reading this, you will learn how to record transactions in Perdisco. For more information, please contact at https://myassignmentguru.com
In Preparation for 2020 this slide deck has information on:
-Fiscal Year-End Close Process
Create Fiscal Year Reporting Periods
1099 Preparation and Processing
Perdisco (MYOB Based) Practice Set Solution. Perdisco is an online test which assess the students ability. After reading this, you will learn how to record transactions in Perdisco. For more information, please contact at https://myassignmentguru.com
For more course tutorials visit
www.newtonhelp.com
CA1-1 (FASB and Standard-Setting)Presented below are four statements which you are to identify as true or false. If false, explain why the statement is false.
1. GAAP is the term used to indicate the whole body of FASB authoritative literature
This year-end webinar for Sage X3 processing covers:
Year-End Check List of tasks to perform before closing
Managerial Reports to run at YE & Tie to the GL
Closing Last Fiscal Period and Year
Run Financial Data Extraction or SEI Reports
Other Considerations
1099 Generation and Reporting
Updating Default Parameters
Acc 380 entire course accounting for not for-profit organizationsLeonaThomas54
ACC 380 Entire Course / Accounting for Not-for-Profit Organizations
To Purchase
http://homework-place.com/product-category/acc-380/
Accounting and Financial Reporting. From Chapter 1 complete Exercise 1-6 and Exercise 1-9. From chapter 2 complete Exercise 2-2 and post the answers to the discussion board. Do not forget to show all necessary steps and explain how you attained the outcome. Respond to at least two of your classmates’ postings.
GASB, CAFR ISSUES and Budgetary Comparison Schedule. From Chapter 2 complete Exercise 2-3 and from Chapter 3 complete Exercise 3-5 and Exercise 3-10 and post the answers to the discussion board. Do not forget to show all necessary steps and explain how you attained the outcome. Respond to at least two of your classmates’ postings.
Government-Wide Statements & Budgetary Comparison Schedule. Complete the following activities and submit your answers to your instructor in a Word document formatted to proper APA specifications. Include any relevant supporting computations and explanations.
Review the financial information pertaining to the City of Northern Pines in problem 2-8 on pages 52 and 53 of your text. Prepare, in good form, a Statement of Activities for the city of Northern Pines for the year ended June 30, 2012. Northern Pines has no component units.
Part Two:
Review the financial information pertaining to the city of Eastern Shores in problem 2-9 on page 53 of your text. From the information given, prepare in good form, a General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances for the city of Eastern Shores General Fund for the Year Ended September 30, 2012.
Part Three:
Review the financial transactions pertaining to the City of Springfield in problem 3-12 on pages 82 and 83.
1. Record the transactions using appropriate journal entries.
2. Prepare a budgetary comparison schedule for the General Fund.
Modified Accrual Accounting and General Fund Items. [Complete the following questions based on the Chapter 4 material:
a) Outline revenue recognition criteria under modified accrual accounting. Include specific requirements for property tax revenue.
b) Outline expenditure recognition criteria under modified accrual accounting. Include the general case, recognition of debt service expenditures, and recognition of expenditures for item such as compensated absences II. Distinguish between the (1) GAAP basis and (2) budgetary basis of reporting for the General Fund.
Do not forget to show all necessary steps and explain how you attained the outcome. Respond to at least two of your classmates’ postings.
Trust Activities and Fund Issues. From Chapter 5 complete Exercise 5-2 and Exercise 5-4 and post the answers to the discussion board. Do not forget to show all necessary steps and explain how you attained the outcome. Respond to at least two of your classmates’ postings.
G.A.S.B. Visit the website of the Governmental Accounting Standards Board (G.A.S.B.) at htt
MenuACCT 212: Course Project 1RequirementRequirement DescriptionWorksheetPart A1Prepare the Journal Entries in the General JournalJournal Entries2Post Journal Entries to the General LedgerGeneral Ledger3Prepare a Trial BalanceTrial BalancePart B4Prepare the Adjusting EntriesAdjusting Entries5Post Adjusting Entries to the General LedgerGeneral Ledger6Prepare an Adjusted Trial BalanceAdjusted TB7Prepare the Financial StatementsFinancial Statements8Prepare the Closing EntriesClosing Entries9Post Closing Entries to the General LedgerGeneral Ledger10Prepare the Post Closing Trial BalancePost Closing TB
Click on the worksheet link to complete the corresponding Requirement or the Project Instructions button below for an overview.
Project Instructions/xl/drawings/drawing1.xml#'Project%20Instructions'!A1
Project InstructionsCourse Project #1 OverviewCourse Project #1 consists of two parts, A and B, respectively. There are 10 Requirements for you to complete in this exercise, Part A has 1-3 and Part B has 4-10. Part A is due at the end of Week 3. Part B is due at the end of Week 5. See Syllabus/”Due Dates for Assignments & Exams” for due date information. All of the information you need to complete Course Project #1 is located in this Workbook.
• There are 8 worksheets in the workbook you will need to complete for Parts A & B.
• A list of October 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, the Rawls Repair Corporation, (RRC) a brand new small business specializing in bicycle repair. The owner, Rob Rawls, is a terrific cyclist and bike repair specialist, but definitely not an accountant. Your job is to help Rob put his affairs in order. Luckily Rob has only been in operation for a month and things have not gotten too out of hand yet! Rob has to submit his financial statements to his 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 RRC.RequirementsGuidelines For Part A:• Complete Requirements 1-3 on the Journal Entries, General Ledger, and Trial Balance worksheets.• Type your work directly into the worksheets.• Save your workbook as “CourseProject1A_ ACCT212_YourLastName”.• Submit the workbook to the DropBox under “Course Project 1-Part A” by the end of Week 3.For Part B:• Using feedback from your instructor and Part A, complete Requirements 4-10.• Type your work directly into the worksheets.• Save your workbook as “CourseProject1B_ACCT212_YourLastName”.• Submit the workbook to the DropBox under “Course Project 1-Part B” by the end of Week 5.
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 you ...
Portfolio Project Option 1 Student Template
Option #1: Venture Consultants, Power and Demolition Company, and Warnerwood Accounting Cases
PART 1:
Venture Consultants
The month of March transactions
Date
Account Names
Debit
Credit
1-Mar
2-Mar
3-Mar
6-Mar
9-Mar
12-Mar
19-Mar
22-Mar
25-Mar
29-Mar
30-Mar
30-Apr
$221,000
$221,000
PART 2A
Power and Demolition Co, Adjustment April 30, 2015
Adjust #
Account Names
Debit
Credit
1
2
3
4
5
6
7
8
PART 2B
Power and Demolition Co, Adjustment April 30, 2015
Continued
UTB
ADJUSTMENT
Acct #
Account Names
Debit
Credit
Debit
Credit
Debit
101
Cash
$7,000
$7,000
126
Supplies
$16,000
128
Pre-paid insurance
$12,600
167
Equipment
$200,000
Accumulated. Depreciation
$14,000
201
Account payable
$6,800
Utilities payable
Wages payable
Rent Payable
PropertyTxPayable
Interest payable
251
Long-term notes payable
$30,000
301
Bonn, Equity
$86,900
302
Bonn, Withdrawals
$12,000
401
Demolition fees earned
$187,000
623
Wage expense
$41,400
633
Interest expense
$3,300
640
Rent expense
$13,200
683
Property tax expense
$9,700
684
Repairs expense
$4,700
690
Utilities expense
$4,800
Supply expense
Insurance expense
Depreciation expense
TOTALS
$324,700
$324,700
PART 3
Warnerwood Company
Column->
A
B
C
D
E
F
G
Date
Activities
# Units Buy
Cost/unit
#Units Sold
Price/unit
Cost GAS
Sales
1-Mar
BI
5-Mar
TI
9-Mar
TO
18-Mar
TI
25-Mar
TI
29-Mar
TO
TOTAL
Q1. Units in Available for Sales is BI + TI (Column B)=
Units (BI + TI) =
Q2. BI + TI - TO = EI=
820
minus
580
equals
240
Q3. FIFO
Q3. LIFO
Q3. Weighted Average
Weighted cost/unit=
Cost EI=
Q.4
Sales
COGS/Method
Gross Profit
Q4. FIFO
Q4. LIFO
Q4. WtAvg
Portfolio
Project Option 1 Student Template
Option #1
:
Venture Consultants, Power and Demolition Company, and Warnerwood
Accounting Cases
PART 1:
Venture Consultants
The month of March transactions
Date
Account
Names
Debit
Credit
1
-
Mar
2
-
Mar
3
-
Mar
6
-
Mar
9
-
Mar
12
-
Mar
19
-
Mar
22
-
Mar
25
-
Mar
29
-
Mar
30
-
Mar
.
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.
MenuACCT 212: Course Project 1RequirementRequirement DescriptionWorksheetPart A1Prepare the Journal Entries in the General JournalJournal Entries2Post Journal Entries to the General LedgerGeneral Ledger3Prepare a Trial BalanceTrial BalancePart B4Prepare the Adjusting EntriesAdjusting Entries5Post Adjusting Entries to the General LedgerGeneral Ledger6Prepare an Adjusted Trial BalanceAdjusted TB7Prepare the Financial StatementsFinancial Statements8Prepare the Closing EntriesClosing Entries9Post Closing Entries to the General LedgerGeneral Ledger10Prepare the Post Closing Trial BalancePost Closing TB
Click on the worksheet link to complete the corresponding Requirement or the Project Instructions button below for an overview.
Project Instructions/xl/drawings/drawing1.xml#'Project%20Instructions'!A1
Project InstructionsCourse Project #1 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 October 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, the Rawls Repair Corporation (RRC), a brand new small business specializing in bicycle repair. The owner, Rob Rawls, is a terrific cyclist and bike repair specialist, but definitely not an accountant. Your job is to help Rob put his affairs in order. Luckily Rob has only been in operation for a month and things have not gotten too out of hand yet! Rob has to submit his financial statements to his 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 RRC.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.
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.
October TransactionsDuring its first month of operation, the Rawls Repair Corporation, which specializes in bicycle repairs, completed the following transactions.October TransactionsDateTransaction DescriptionOct. 1Began business by making a deposit in a company bank account of $12,000, in exchange for 1,200 shares of $10 par value common stock.Oct. 1Paid the premium on a 1-year insurance policy, $1,200.Oct. 1Paid the current month's store rent ex ...
ACC 205 OUTLET Education for Service--acc205outlet.comkopiko55
FOR MORE CLASSES VISIT
www.acc205outlet.com
Final Paper
Focus of the Final Paper
Write a five to seven page financial statement analysis of a public company, and formatted according to APA style as outlined in the Ashford Writing Center. In this analysis
ACC 205 OUTLET Become Exceptional--acc205outlet.comkopiko119
FOR MORE CLASSES VISIT
www.acc205outlet.com
Final Paper
Focus of the Final Paper
Write a five to seven page financial statement analysis of a public company, and formatted according to APA style as outlined in the Ashford Writing Center. In this analysis
FOR MORE CLASSES VISIT
www.acc205outlet.com
Final Paper
Focus of the Final Paper
Write a five to seven page financial statement analysis of a public company, and formatted according to APA style as outlined in the Ashford Writing Center.
FOR MORE CLASSES VISIT
www.acc205outlet.com
Final Paper
Focus of the Final Paper
Write a five to seven page financial statement analysis of a public company, and formatted according to APA style as outlined in the Ashford Writing Center. In this analysis you will discuss the financial
FOR MORE CLASSES VISIT
www.acc205outlet.com
Final Paper
Focus of the Final Paper
Write a five to seven page financial statement analysis of a public company, and formatted according to APA style as outlined in the Ashford Writing Center. In this analysis you will discuss the financial health of this company with the ultimate goal of making a recommendation to other investors. Your paper should consist of the following sections: introduction, company overview, horizontal analysis, ratio analysis, final recommendation, and conclusions.
FOR MORE CLASSES VISIT
www.acc205outlet.com
Final Paper
Focus of the Final Paper
Write a five to seven page financial statement analysis of a public company, and formatted according to APA style as outlined in the Ashford Writing Center. In this analysis you will discuss the financial health of this company with the ultimate goal of making a recommendation to other investors. Your paper should consist of the following sections: introduction, company overview, horizontal analysis, ratio analysis, final recommendation, and conclusions.
Here is a breakdown of the sections within the body of the assignment:
Company Overview
For more course tutorials visit
www.newtonhelp.com
CA1-1 (FASB and Standard-Setting)Presented below are four statements which you are to identify as true or false. If false, explain why the statement is false.
1. GAAP is the term used to indicate the whole body of FASB authoritative literature
This year-end webinar for Sage X3 processing covers:
Year-End Check List of tasks to perform before closing
Managerial Reports to run at YE & Tie to the GL
Closing Last Fiscal Period and Year
Run Financial Data Extraction or SEI Reports
Other Considerations
1099 Generation and Reporting
Updating Default Parameters
Acc 380 entire course accounting for not for-profit organizationsLeonaThomas54
ACC 380 Entire Course / Accounting for Not-for-Profit Organizations
To Purchase
http://homework-place.com/product-category/acc-380/
Accounting and Financial Reporting. From Chapter 1 complete Exercise 1-6 and Exercise 1-9. From chapter 2 complete Exercise 2-2 and post the answers to the discussion board. Do not forget to show all necessary steps and explain how you attained the outcome. Respond to at least two of your classmates’ postings.
GASB, CAFR ISSUES and Budgetary Comparison Schedule. From Chapter 2 complete Exercise 2-3 and from Chapter 3 complete Exercise 3-5 and Exercise 3-10 and post the answers to the discussion board. Do not forget to show all necessary steps and explain how you attained the outcome. Respond to at least two of your classmates’ postings.
Government-Wide Statements & Budgetary Comparison Schedule. Complete the following activities and submit your answers to your instructor in a Word document formatted to proper APA specifications. Include any relevant supporting computations and explanations.
Review the financial information pertaining to the City of Northern Pines in problem 2-8 on pages 52 and 53 of your text. Prepare, in good form, a Statement of Activities for the city of Northern Pines for the year ended June 30, 2012. Northern Pines has no component units.
Part Two:
Review the financial information pertaining to the city of Eastern Shores in problem 2-9 on page 53 of your text. From the information given, prepare in good form, a General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances for the city of Eastern Shores General Fund for the Year Ended September 30, 2012.
Part Three:
Review the financial transactions pertaining to the City of Springfield in problem 3-12 on pages 82 and 83.
1. Record the transactions using appropriate journal entries.
2. Prepare a budgetary comparison schedule for the General Fund.
Modified Accrual Accounting and General Fund Items. [Complete the following questions based on the Chapter 4 material:
a) Outline revenue recognition criteria under modified accrual accounting. Include specific requirements for property tax revenue.
b) Outline expenditure recognition criteria under modified accrual accounting. Include the general case, recognition of debt service expenditures, and recognition of expenditures for item such as compensated absences II. Distinguish between the (1) GAAP basis and (2) budgetary basis of reporting for the General Fund.
Do not forget to show all necessary steps and explain how you attained the outcome. Respond to at least two of your classmates’ postings.
Trust Activities and Fund Issues. From Chapter 5 complete Exercise 5-2 and Exercise 5-4 and post the answers to the discussion board. Do not forget to show all necessary steps and explain how you attained the outcome. Respond to at least two of your classmates’ postings.
G.A.S.B. Visit the website of the Governmental Accounting Standards Board (G.A.S.B.) at htt
MenuACCT 212: Course Project 1RequirementRequirement DescriptionWorksheetPart A1Prepare the Journal Entries in the General JournalJournal Entries2Post Journal Entries to the General LedgerGeneral Ledger3Prepare a Trial BalanceTrial BalancePart B4Prepare the Adjusting EntriesAdjusting Entries5Post Adjusting Entries to the General LedgerGeneral Ledger6Prepare an Adjusted Trial BalanceAdjusted TB7Prepare the Financial StatementsFinancial Statements8Prepare the Closing EntriesClosing Entries9Post Closing Entries to the General LedgerGeneral Ledger10Prepare the Post Closing Trial BalancePost Closing TB
Click on the worksheet link to complete the corresponding Requirement or the Project Instructions button below for an overview.
Project Instructions/xl/drawings/drawing1.xml#'Project%20Instructions'!A1
Project InstructionsCourse Project #1 OverviewCourse Project #1 consists of two parts, A and B, respectively. There are 10 Requirements for you to complete in this exercise, Part A has 1-3 and Part B has 4-10. Part A is due at the end of Week 3. Part B is due at the end of Week 5. See Syllabus/”Due Dates for Assignments & Exams” for due date information. All of the information you need to complete Course Project #1 is located in this Workbook.
• There are 8 worksheets in the workbook you will need to complete for Parts A & B.
• A list of October 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, the Rawls Repair Corporation, (RRC) a brand new small business specializing in bicycle repair. The owner, Rob Rawls, is a terrific cyclist and bike repair specialist, but definitely not an accountant. Your job is to help Rob put his affairs in order. Luckily Rob has only been in operation for a month and things have not gotten too out of hand yet! Rob has to submit his financial statements to his 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 RRC.RequirementsGuidelines For Part A:• Complete Requirements 1-3 on the Journal Entries, General Ledger, and Trial Balance worksheets.• Type your work directly into the worksheets.• Save your workbook as “CourseProject1A_ ACCT212_YourLastName”.• Submit the workbook to the DropBox under “Course Project 1-Part A” by the end of Week 3.For Part B:• Using feedback from your instructor and Part A, complete Requirements 4-10.• Type your work directly into the worksheets.• Save your workbook as “CourseProject1B_ACCT212_YourLastName”.• Submit the workbook to the DropBox under “Course Project 1-Part B” by the end of Week 5.
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 you ...
Portfolio Project Option 1 Student Template
Option #1: Venture Consultants, Power and Demolition Company, and Warnerwood Accounting Cases
PART 1:
Venture Consultants
The month of March transactions
Date
Account Names
Debit
Credit
1-Mar
2-Mar
3-Mar
6-Mar
9-Mar
12-Mar
19-Mar
22-Mar
25-Mar
29-Mar
30-Mar
30-Apr
$221,000
$221,000
PART 2A
Power and Demolition Co, Adjustment April 30, 2015
Adjust #
Account Names
Debit
Credit
1
2
3
4
5
6
7
8
PART 2B
Power and Demolition Co, Adjustment April 30, 2015
Continued
UTB
ADJUSTMENT
Acct #
Account Names
Debit
Credit
Debit
Credit
Debit
101
Cash
$7,000
$7,000
126
Supplies
$16,000
128
Pre-paid insurance
$12,600
167
Equipment
$200,000
Accumulated. Depreciation
$14,000
201
Account payable
$6,800
Utilities payable
Wages payable
Rent Payable
PropertyTxPayable
Interest payable
251
Long-term notes payable
$30,000
301
Bonn, Equity
$86,900
302
Bonn, Withdrawals
$12,000
401
Demolition fees earned
$187,000
623
Wage expense
$41,400
633
Interest expense
$3,300
640
Rent expense
$13,200
683
Property tax expense
$9,700
684
Repairs expense
$4,700
690
Utilities expense
$4,800
Supply expense
Insurance expense
Depreciation expense
TOTALS
$324,700
$324,700
PART 3
Warnerwood Company
Column->
A
B
C
D
E
F
G
Date
Activities
# Units Buy
Cost/unit
#Units Sold
Price/unit
Cost GAS
Sales
1-Mar
BI
5-Mar
TI
9-Mar
TO
18-Mar
TI
25-Mar
TI
29-Mar
TO
TOTAL
Q1. Units in Available for Sales is BI + TI (Column B)=
Units (BI + TI) =
Q2. BI + TI - TO = EI=
820
minus
580
equals
240
Q3. FIFO
Q3. LIFO
Q3. Weighted Average
Weighted cost/unit=
Cost EI=
Q.4
Sales
COGS/Method
Gross Profit
Q4. FIFO
Q4. LIFO
Q4. WtAvg
Portfolio
Project Option 1 Student Template
Option #1
:
Venture Consultants, Power and Demolition Company, and Warnerwood
Accounting Cases
PART 1:
Venture Consultants
The month of March transactions
Date
Account
Names
Debit
Credit
1
-
Mar
2
-
Mar
3
-
Mar
6
-
Mar
9
-
Mar
12
-
Mar
19
-
Mar
22
-
Mar
25
-
Mar
29
-
Mar
30
-
Mar
.
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.
MenuACCT 212: Course Project 1RequirementRequirement DescriptionWorksheetPart A1Prepare the Journal Entries in the General JournalJournal Entries2Post Journal Entries to the General LedgerGeneral Ledger3Prepare a Trial BalanceTrial BalancePart B4Prepare the Adjusting EntriesAdjusting Entries5Post Adjusting Entries to the General LedgerGeneral Ledger6Prepare an Adjusted Trial BalanceAdjusted TB7Prepare the Financial StatementsFinancial Statements8Prepare the Closing EntriesClosing Entries9Post Closing Entries to the General LedgerGeneral Ledger10Prepare the Post Closing Trial BalancePost Closing TB
Click on the worksheet link to complete the corresponding Requirement or the Project Instructions button below for an overview.
Project Instructions/xl/drawings/drawing1.xml#'Project%20Instructions'!A1
Project InstructionsCourse Project #1 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 October 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, the Rawls Repair Corporation (RRC), a brand new small business specializing in bicycle repair. The owner, Rob Rawls, is a terrific cyclist and bike repair specialist, but definitely not an accountant. Your job is to help Rob put his affairs in order. Luckily Rob has only been in operation for a month and things have not gotten too out of hand yet! Rob has to submit his financial statements to his 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 RRC.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.
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.
October TransactionsDuring its first month of operation, the Rawls Repair Corporation, which specializes in bicycle repairs, completed the following transactions.October TransactionsDateTransaction DescriptionOct. 1Began business by making a deposit in a company bank account of $12,000, in exchange for 1,200 shares of $10 par value common stock.Oct. 1Paid the premium on a 1-year insurance policy, $1,200.Oct. 1Paid the current month's store rent ex ...
ACC 205 OUTLET Education for Service--acc205outlet.comkopiko55
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Final Paper
Focus of the Final Paper
Write a five to seven page financial statement analysis of a public company, and formatted according to APA style as outlined in the Ashford Writing Center. In this analysis
ACC 205 OUTLET Become Exceptional--acc205outlet.comkopiko119
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Final Paper
Focus of the Final Paper
Write a five to seven page financial statement analysis of a public company, and formatted according to APA style as outlined in the Ashford Writing Center. In this analysis
FOR MORE CLASSES VISIT
www.acc205outlet.com
Final Paper
Focus of the Final Paper
Write a five to seven page financial statement analysis of a public company, and formatted according to APA style as outlined in the Ashford Writing Center.
FOR MORE CLASSES VISIT
www.acc205outlet.com
Final Paper
Focus of the Final Paper
Write a five to seven page financial statement analysis of a public company, and formatted according to APA style as outlined in the Ashford Writing Center. In this analysis you will discuss the financial
FOR MORE CLASSES VISIT
www.acc205outlet.com
Final Paper
Focus of the Final Paper
Write a five to seven page financial statement analysis of a public company, and formatted according to APA style as outlined in the Ashford Writing Center. In this analysis you will discuss the financial health of this company with the ultimate goal of making a recommendation to other investors. Your paper should consist of the following sections: introduction, company overview, horizontal analysis, ratio analysis, final recommendation, and conclusions.
FOR MORE CLASSES VISIT
www.acc205outlet.com
Final Paper
Focus of the Final Paper
Write a five to seven page financial statement analysis of a public company, and formatted according to APA style as outlined in the Ashford Writing Center. In this analysis you will discuss the financial health of this company with the ultimate goal of making a recommendation to other investors. Your paper should consist of the following sections: introduction, company overview, horizontal analysis, ratio analysis, final recommendation, and conclusions.
Here is a breakdown of the sections within the body of the assignment:
Company Overview
For more course tutorials visit
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Case Study 1 (Part A)
Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions:
June
For more course tutorials visit
www.newtonhelp.com
Case Study 1 (Part A)
Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books;
For more course tutorials visit
www.tutorialrank.com
Case Study 1 (Part A)
Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions:
June
For more course tutorials visit
www.tutorialrank.com
Case Study 1 (Part A)
Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions:
June
For more course tutorials visit
www.acct504.com
Case Study 1 (Part A)
Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions:
Palestine last event orientationfvgnh .pptxRaedMohamed3
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The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
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MARUTI SUZUKI- A Successful Joint Venture in India.pptx
Acct 212 course project 1
1. ACCT 212: Course Project 1
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Part A
1
Prepare the Journal Entries in the General Journal
Journal Entries
2
Post Journal Entries to the General Ledger
General Ledger
3
Prepare a Trial Balance
Trial Balance
Part B
4
Prepare the Adjusting Entries
Adjusting Entries
5
Post Adjusting Entries to the General Ledger
2. General Ledger
6
Prepare an Adjusted Trial Balance
Adjusted TB
7
Prepare the Financial Statements
Financial Statements
8
Prepare the Closing Entries
Closing Entries
9
Post Closing Entries to the General Ledger
General Ledger
Prepare the Post Closing Trial Balance
Post Closing TB
Click on the worksheet
link to complete the
corresponding
Requirement or the
Project Instructions
button below for an
overview.
10
Project Instructions
Course Project #1 Overview
The 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
3. 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 October 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.
Scenario
You’ve just secured a new client in your accounting practice, the Rawls Repair Corporation
(RRC), a brand new
small business specializing in bicycle repair. The owner, Rob Rawls, is a terrific cyclist and bike
repair specialist, but
definitely not an accountant. Your job is to help Rob put his affairs in order. Luckily Rob has
only been in operation
for a month and things have not gotten too out of hand yet! Rob has to submit his financial
statements to his
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 RRC.
Requirements
Guidelines
Use 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.
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.
During its first month of operation, the Rawls Repair Corporation, which
specializes in bicycle repairs, completed the following transactions.
4. October Transactions
Date
Oct. 1
Transaction Description
Began business by making a deposit in a company bank
account of $12,000, in exchange for 1,200 shares of $10 par
value common stock.
Oct. 1
Oct. 1
Oct. 3
Paid the premium on a 1-year insurance policy, $1,200.
Paid the current month’s store rent expense, $1,040.
Purchased repair equipment from Conklin Company, $4,400.
Paid $600 down and the balance was placed on account.
Payments will be $200.00 per month for 19 months. The first
payment is due 11/1. Note: Use Accounts Payable for the
Balance Due.
Oct. 8
Purchased repair supplies from McKenna Company on credit,
$390.
Oct. 12
Oct. 16
Paid utility bill for October, $154.
Cash bicycle repair revenue for the first half of October,
$1,362.
Oct. 19
Oct. 31
Made payment to McKenna Company, $200.
Cash bicycle repair revenue for the last half of October,
$1,350.
Oct. 31
Declared and paid cash dividend of $800.
Use the following account descriptions for journal entries.
5. Chart of Accounts
Account
Number
Account Title
Normal Balance
111
117
119
144
145
Cash
Prepaid Insurance
Repair Supplies
Repair Equipment
Accum Dep -Repair Equipment
Debit
Debit
Debit
Debit
Credit
212
213
Accounts Payable
Income Tax Payable
Credit
Credit
311
312
313
Common Stock
Retained Earnings
Dividends
Credit
Credit
Debit
6. 411
Account Type
Assets
Bicycle Repair Revenue
Credit
511
512
513
514
515
516
Store Rent Expense
Utility Expense
Insurance Expense
Repair Supplies Expense
Dep Expense – Repair Equipment
Income Tax Expense
Debit
Debit
Debit
Debit
Debit
Debit
Liabilities
Stockholders Equity
Revenue
Expenses
Review Chapter
2, p. 90 for more
information on the
Chart of Accounts
REQUIREMENT #1: Prepare journal entries to record the October transactions in the
General Journal below. Remember that Debits must equal Credits—All of your Journal
Entries should balance.
7. General Journal
Date
Description (Account Name)
Debit
Credit
0
Once you’ve completed
this requirement print
your General Journal to
complete Requirement
#2 on the General
Ledger worksheet.
–
REQUIREMENT #2: Post the October journal entries to the following T-Accounts and compute
ending balances.
Cash (111)
Bicycle Repair Revenue (411)
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.
Prepaid Insurance (117)
Store Rent Expense (511)
Repair Supplies (119)
Utility Expense (512)
Repair Equipment (144)
8. 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)
Retained Earnings (312)
Dividends (313)
REQUIREMENT #3: Prepare a trial balance for October in the space
below.
Rawls Repair Corporation
Trial Balance
October 31
Account
Title
Only enter
accounts that
have a
balance.
Balance
Debit
Credit
0
0
Requirement #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 $194.
9. c) The estimated depreciation on repair equipment is $70.
d) The estimated income taxes are $40.
Requirement #5: Post the adjusting entries on October 31 below to the General Ledger
T-accounts and compute adjusted balances. Just add to the balances that are already
listed.
General Journal
Date
Description (Account Name)
Debit
Credit
0
0
Click here to go to the
General Ledger worksheet
to complete Requirement
#5.
REQUIREMENT #6: Prepare an Adjusted Trial Balance in the space below.
Rawls Repair Corporation
Adjusted Trial Balance
October 31
Account
Title
Only enter
accounts that
have a
balance.
Balance
Debit
Credit
0
0
10. Requirement #7: Prepare the financial statements for Rawls Repair Corporation as of October 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.
Rawls Repair Corporation
Income Statement
For the Month Ending October 31
Revenues:
Bicycle Repair Revenue
Total Revenue
Rawls Repair Corporation
Statement of Retained Earnings
For the Month Ending October 31
0
Expenses:
Store Rent Expense
Utility Expense
Insurance Expense
Repair Supplies Exp.
Depreciation Exp.
Income Taxes Exp.
Total Expenses
0
Net Income
Retained Earnings, October 1
Add: Net Income
Subtotal
Less: Dividends
Retained Earnings, October 3
Rawls Repair Corporation
Balance Sheet
October 31
0
0
11. Assets:
Cash
Prepaid Insurance
Repair Supplies
Repair Equipment
Less: Accum. Depr.
Total Assets
0
0
Liabilities and Stockholders’ Equity
Liabilities:
Accounts Payable
Income Taxes Payable
Total Liabilities
0
Stockholders’ Equity:
Common Stock
Retained Earnings
Total Stockholders’ Equity
0
Total Liabilities &
Stockholders’ Equity
0
Requirement #8: Prepare the closing entries at October 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
worksheet and compute ending balances. Just add to the adjusted balances already
listed.
Click here to go to the
General Ledger worksheet
General Ledger worksheet
to complete Requirement
#9.
General Journal
Date
12. Description (Account Name)
Debit
Credit
See the Week 2
Lecture for examples
of how to complete
closing entries.
0
0
Requirement #10: Prepare a post-closing trial balance as of October 31
in the space below.
Rawls Repair Corporation
Post-Closing Trial Balance
October 31
Account
Title
Balance
Debit
Credit
0
0
Project 1 Grading Rubric – Students
Criteria
Parts:
Excellent
Good
Poor
90% to 100%
Step 1
Journal entries use
—Journal accurate accounts
13. Entries (20
and amounts; and
points)
debits and credits
are used correctly.
70% to 89%
Journal entries
mostly use
accurate accounts
and amounts; and
debits and credits
are used correctly.
50% to 69%
Journal entries
have some errors
in use of accounts
and amounts; and
debits and credits
are only somewhat
used correctly.
Less than 50%
Journal entries
have some errors
in use of accounts
and amounts; and
debits and credits
are not used
correctly.
Steps 2 and 3 Posting is correct
leading to an
—Posted and accurate trial
Unadjusted
balance.
Trial Balance.
(10 points)
Posting is mostly
correct leading to
a mostly correct
trial balance.
14. 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.
Step 4
—
Adjusting
Journal
Entries (10
points)
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.
Steps 5 and 6 Posting is correct
leading to an
—Posted and accurate trial
Adjusted Trial balance.
15. Balance. (10
points)
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.
Step 7
Journal entries use
accurate accounts
and amounts; and
debits and credits
are used correctly.
Very Poor
—
Financial
Statements
(10 points)
All four financial
statements are
prepared
accurately and in
an appropriate
format.
Three of four
financial
statements are
prepared
accurately and
16. mostly in an
appropriate
format, one
statement has
some errors.
Two of four
financial
statements are
prepared
accurately and
mostly in an
appropriate format,
two statements
have some errors.
One or fewer of
four financial
statements are
prepared
accurately and
mostly in an
appropriate format,
three or all
statements have
some errors.
Step 8
—Closing
Journal
Entries (10
points)
Journal 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.
17. 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.
Steps 9 and
10
—Posted
and PostclosingTrial
Balance. (10
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.