Acct 101 project part 1 This project will be completed in two parts. The instructions and list of daily business transactions are listed in the Google Sheet titled "Project Instructions" link below. All answers should be submitted in the Excel template attached below. The video embedded below will provide you instructions on how to get started. Excel help Part 1 contains the following: a chart of accounts with opening account balances list of business transactions General journal (this include the adjusting entries) T-Account ledger First submission of Part 1 is due by the normal Module 3 deadline of the Connect assignments. You will complete part 2 of the project beginning in Module 5. Upon submission, your instructor will indicate which journal entries and/or T-Acct entries are incorrect. You may resubmit within this assignment your updated project with corrections. Full points will be added back for correct adjustments. Due date for your 2nd submission is the normal Module 5 due date 1. Project InstructionsLinks to an external site. This project will be completed in two parts. All answers should be submitted in the Excel template also attached to this module. Part 1 will contain a chart of accounts with opening account balances, list of business transactions, journaling all transactions into the general journal, and updating each account balance. Upon submission, your instructor will indicate which journal entries and/or T-Acct entries are incorrect. Part 2 will have you correct any mistakes and then complete the project. The remaining parts of the project will include preparing an adjusted trial balance, income statement, statement of retained earnings, balance sheet, closing entries, and post-closing trial balance. Dec. 1 st Collected $ 600 from Franklin from a previous engagement in Oct. Dec. 2 nd Paid $ 1,500 on Gustos Inc. invoice from a previously recorded transaction with check #1301. Dec 3 rd Paid December rent of $ 2,300 with check #1302. Dec 4 th Completed additional work for Washington, sent invoice #Y77P for $ 1,300 due in 1 month. Dec. 5 th Paid employee from work previously expensed in Nov. with payment due Dec. 5 th using check #1303. Dec. 8 th Purchased land on a note for $ 23,000 to be used for future construction of a new office building. Land and Notes payable will have account numbers of 150 and 240, respectively. Dec. 9 th Paid $ 1,400 to cover all utilities for the month of Dec using check #1304. Dec. 10 th - Completed $ 550 worth of work for a repeat customer who pays cash immediately upon completion. Dec. 11 th - Collected $ 800 from Washington from a previous engagement in Nov. Dec. 12 th Our employee earned two weeks of pay amounting to $ 1,700 , to be paid Dec. 23 rd . *employee took vacation from Dec. 15 th -Dec. 31 st . No pay will accrue* Dec. 15 th - Leah Tyler, the owner, withdrew $ 3,100 for personal use using check #1305. Dec. 16 th Completed a large job for Franklin for $ 12,000 . Sent invoice #Y78P due J.

1. Acct 101 project part 1
This project will be completed in two parts. The instructions and list of daily business
transactions are listed in the Google Sheet titled "Project Instructions" link below. All answers
should be submitted in the Excel template attached below. The video embedded below will
provide you instructions on how to get started.
Excel help
Part 1 contains the following:
a chart of accounts with opening account balances
list of business transactions
General journal (this include the adjusting entries)
T-Account ledger
First submission of Part 1 is due by the normal Module 3 deadline of the Connect assignments.
You will complete part 2 of the project beginning in Module 5.
Upon submission, your instructor will indicate which journal entries and/or T-Acct entries are
incorrect.
You may resubmit within this assignment your updated project with corrections. Full points
will be added back for correct adjustments. Due date for your 2nd submission is the normal
Module 5 due date
1. Project InstructionsLinks to an external site.
This project will be completed in two parts. All answers should be submitted in the Excel
template also attached to this
module. Part 1 will contain a chart of accounts with opening account balances, list of business
transactions, journaling
all transactions into the general journal, and updating each account balance. Upon submission,
your instructor will
indicate which journal entries and/or T-Acct entries are incorrect.
Part 2 will have you correct any mistakes and then complete the project. The remaining parts of
the project will include
preparing an adjusted trial balance, income statement, statement of retained earnings, balance
sheet, closing entries,
and post-closing trial balance.
Dec. 1
st Collected $ 600 from Franklin from a previous engagement in Oct.
Dec. 2

2. nd Paid $ 1,500 on Gustos Inc. invoice from a previously recorded transaction with check
#1301.
Dec 3
rd Paid December rent of $ 2,300 with check #1302.
Dec 4
th Completed additional work for Washington, sent invoice #Y77P for $ 1,300 due in 1 month.
Dec. 5
th Paid employee from work previously expensed in Nov. with payment due Dec. 5
th using check #1303.
Dec. 8
th Purchased land on a note for $ 23,000 to be used for future construction of a new office
building.
Land and Notes payable will have account numbers of 150 and 240, respectively.
Dec. 9
th Paid $ 1,400 to cover all utilities for the month of Dec using check #1304.
Dec. 10
th
- Completed $ 550 worth of work for a repeat customer who pays cash immediately upon
completion.
Dec. 11
th
- Collected $ 800 from Washington from a previous engagement in Nov.
Dec. 12
th Our employee earned two weeks of pay amounting to $ 1,700 , to be paid Dec. 23
rd
.
*employee took vacation from Dec. 15
th
-Dec. 31
st
. No pay will accrue*
Dec. 15
th
- Leah Tyler, the owner, withdrew $ 3,100 for personal use using check #1305.
Dec. 16
th Completed a large job for Franklin for $ 12,000 . Sent invoice #Y78P due Jan. 31

3. st
.
Dec. 22
nd Franklin paid $ 1,500 to pay off some of his balance due.
Dec. 23
rd Paid our employee for the work expensed Dec. 12
th
.
Dec 24
th
-Dec. 31
st Owner took off the rest of the year.
Adjustments
1. The equipment was used for the third year.
2. Prepaid insurance was adjusted for Oct-Dec usage.
3. Unearned revenue was updated to show 3 months of work completed.
4. A final count of supplies showed $ 300 remaining.
Part 1 instructions
1. Open the Excel attachment named Student fill-in template
2. Transfer the opening trial balance amounts to the T-Accts
3. Journal and post to the T-Accts the December and adjusting transactions
4. Total each T-Acct and provide the equation total at the top in the highlighted cells.
Check Figure The cash T-Acct final balance should be $ 27,950
Part 2 instructions
1. Using the feedback provided from your instructor in the gradebook, update any incorrect
items.
2. Prepare the Adjusted trial balance
3. Prepare the Income Statement, Statement of Retained Earnings, and the Balance Sheet.
4. Prepare the Closing journal entries and Post-closing trial balance
2. Excel template
Tyler's Consulting Services
Trial Balance
Month Ended Nov 30, 20XX
ACCOUNT NAME DEBIT CREDIT
100 Cash 36,100

4. 110 Accounts Receivable-Franklin 1,900
115 Accounts Receivable-Washington 1,400
120 Supplies 900
130 *Prepaid Insurance 2,400 * Notes
140 *Equipment 5,000 1 The Equipment was purchased Jan. 1 two years ago
141 Accumulated Depreciation - Equipment 2,000 It has a useful life of 5 years
200 Accounts Payable-Gusto Inc. 3,200
210 Wages Payable 1,600 2 The prepaid insurance was purchased Oct. 1st
220 *Unearned Revenue 3,000 It is a 6 month policy. No adjustments have been made.
300 Leah Tyler, Capital 34,200
302 Leah Tyler, Drawing 40,100 3 The unearned revenue was prepaid by Roman Inc.
310 Retained Earnings 9,600 on Oct. 1st and covers 6 months of work.
400 Revenue earned 104,000 No adjustments have been made.
500 Wages Expense 35,200
501 Utilities Expense 8,800
502 Supplies Expense 1,600
503 Rent Expense 24,200
504 Depreciation Expense
505 Insurance Expense
TOTAL 157,600 157,600
Part 2 (of 2) Acct 101 Project
Part 2 of the project picks up where part 1 left off. Use the graded feedback from part 1 and
correct any mistakes. To check your work before beginning, I will provide the journal entry
answers in the following module 5 item at the beginning of week 6 time frame. Thus
resubmissions to Part 1 must be completed by the Module 5 normal due date. For any items still
incorrect, use these entries to correct your T-Accts. To help ensure you are on the correct path,
Total Assets should equal $68,150.
The same instructions from Module 3 are recopied below. Scroll down to page 2 for the
remaining items to complete. All answers should be submitted in the same Excel template as
part 1.
Part 2 contains the following
Adjusted trial balance
Income statement
Statement of owners equity
Balance sheet
General journal (for journalizing closing entries)

5. Post-closing trial balance
Part 2 is due by the normal Module 6 deadline.
This project will be completed in two parts. All answers should be submitted in the Excel
template also attached to this
module. Part 1 will contain a chart of accounts with opening account balances, list of business
transactions, journaling
all transactions into the general journal, and updating each account balance. Upon submission,
your instructor will
indicate which journal entries and/or T-Acct entries are incorrect.
Part 2 will have you correct any mistakes and then complete the project. The remaining parts of
the project will include
preparing an adjusted trial balance, income statement, statement of retained earnings, balance
sheet, closing entries,
and post-closing trial balance.
Dec. 1
st Collected $ 600 from Franklin from a previous engagement in Oct.
Dec. 2
nd Paid $ 1,500 on Gustos Inc. invoice from a previously recorded transaction with check
#1301.
Dec 3
rd Paid December rent of $ 2,300 with check #1302.
Dec 4
th Completed additional work for Washington, sent invoice #Y77P for $ 1,300 due in 1 month.
Dec. 5
th Paid employee from work previously expensed in Nov. with payment due Dec. 5
th using check #1303.
Dec. 8
th Purchased land on a note for $ 23,000 to be used for future construction of a new office
building.
Land and Notes payable will have account numbers of 150 and 240, respectively.
Dec. 9
th Paid $ 1,400 to cover all utilities for the month of Dec using check #1304.
Dec. 10
th
- Completed $ 550 worth of work for a repeat customer who pays cash immediately upon
completion.

6. Dec. 11
th
- Collected $ 800 from Washington from a previous engagement in Nov.
Dec. 12
th Our employee earned two weeks of pay amounting to $ 1,700 , to be paid Dec. 23
rd
.
*employee took vacation from Dec. 15
th
-Dec. 31
st
. No pay will accrue*
Dec. 15
th
- Leah Tyler, the owner, withdrew $ 3,100 for personal use using check #1305.
Dec. 16
th Completed a large job for Franklin for $ 12,000 . Sent invoice #Y78P due Jan. 31
st
.
Dec. 22
nd Franklin paid $ 1,500 to pay off some of his balance due.
Dec. 23
rd Paid our employee for the work expensed Dec. 12
th
.
Dec 24
th
-Dec. 31
st Owner took off the rest of the year.
Adjustments
1. The equipment was used for the third year.
2. Prepaid insurance was adjusted for Oct-Dec usage.
3. Unearned revenue was updated to show 3 months of work completed.
4. A final count of supplies showed $ 300 remaining.
Part 1 instructions
1. Open the Excel attachment named Student fill-in template

7. 2. Transfer the opening trial balance amounts to the T-Accts
3. Journal and post to the T-Accts the December and adjusting transactions
4. Total each T-Acct and provide the equation total at the top in the highlighted cells.
Check Figure The cash T-Acct final balance should be $ 27,950
Part 2 instructions
1. Using the feedback provided from your instructor in the gradebook, update any incorrect
items.
2. Prepare the Adjusted trial balance
3. Prepare the Income Statement, Statement of Retained Earnings, and the Balance Sheet.
4. Prepare the Closing journal entries and Post-closing trial balance