Excel Problems At The End Of Each Module You Will Apply The

Excel Problemsat The End Of Each Module You Will Apply the Module

Complete the assigned problems from your textbook: (P1-44B page 47 & P2-46B page 111) related to transaction analysis, journal entries for typical business transactions, adjusting entries, and preparation of the trial balance and adjusted trial balance. Present your analysis of the assigned problems in Excel format, entering non-numerical responses using textboxes on the same worksheet. Submit your completed assignment to the M1: Assignment 4 Dropbox by Wednesday, February 12, 2014. Name your file LastnameFirstInitial_M1A4.Excel.xls.

Paper For Above instruction

This assignment requires a comprehensive application of accounting concepts including transaction analysis, journal entries, adjustments, and financial statement preparation using Excel. The goal is to demonstrate understanding and accurate execution of core accounting procedures in an Excel environment.

The problems designated are P1-44B on page 47 and P2-46B on page 111 of the textbook. Problem P1-44B involves preparing an income statement, a statement of retained earnings, and a balance sheet based on given financial data. The task demands careful analysis of business transactions to accurately prepare financial statements that reflect the company’s financial position at the end of the period.

Problem P2-46B focuses on journalizing business transactions, posting these transactions to T-accounts, and subsequently preparing both the trial balance and the adjusted trial balance. This sequence tests the student's ability to record and organize financial data properly, ensuring the ledgers are balanced and accurate.

To approach this assignment, begin by reviewing the specific details and data provided for each problem in the textbook. For P1-44B, use the provided financial data such as revenue, expenses, assets, liabilities, and equity figures to compile the financial statements you are asked to prepare. Pay close attention to the proper classification of accounts and the consistent application of accounting principles.

For P2-46B, carefully journalize each business transaction as described. Ensure each entry adheres to standard accounting notation, debiting and crediting accounts appropriately. After journalizing, post the transactions to their respective T-accounts, verifying that the debits equal credits in the ledger. Use Excel’s cell formulas or manual calculations to prepare the trial balance, confirming that the sum of debit balances equals the sum of credit balances.

The accuracy of these entries and calculations is fundamental, and timeliness in completing the work ensures readiness for submission before the deadline. As instructed, responses should be entered directly into the Excel worksheet, with non-numerical explanations and labels provided via textboxes to maintain clarity and organization.

In terms of presentation, ensure that the Excel workbook is well-structured, with labeled sections for each step of the process (transactions, journal entries, T-accounts, trial balance, and financial statements). Use clear headings, consistent formatting, and include all necessary calculations for transparency and ease of understanding.

In summary, this assignment is a practical exercise in applying textbook accounting principles through detailed and accurate record-keeping, analysis, and reporting within Excel. Focus on precision, clarity, and adherence to standard accounting formats to produce a professional and complete set of financial documents.

References:

- Wild, J. J., Shaw, K. W., & Chiapetta, B. (2020). Financial Accounting (11th ed.). McGraw-Hill Education.

- Horngren, C. T., Sundem, G. L., Elliott, J. A., & Philbrick, D. R. (2019). Introduction to Financial Accounting (11th ed.). Pearson.

- Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2019). Intermediate Accounting (16th ed.). Wiley.

- Warren, C. S., Reeve, J. M., & Duchac, J. (2020). Financial & Managerial Accounting (15th ed.). Cengage Learning.

- Libby, R., Libby, P. A., & Short, D. G. (2019). Financial Accounting (11th ed.). McGraw-Hill Education.

- Epstein, L., & Jermakowicz, E. (2018). IFRS: Policies and Procedures. Wiley.

- Nobes, C., & Parker, R. (2016). Comparative International Accounting. Pearson.

- Hanlon, M., & Heitzman, S. (2018). Financial Accounting: An Introduction. McGraw-Hill Education.

- Boynton, W. C., Johnson, R. N., & Kell, W. G. (2018). Modern Accounting. Cengage Learning.

- Fraser, L. M., & Ormiston, A. (2019). Understanding Financial Statements. Pearson.