ACC 307 SNHU Peyton Approved Income Statement Final Project

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Pbbyx12

Business Finance

Southern New Hampshire University

Description

Part I: Final Project Workbook A. Demonstrate the year-end adjustment process: 1. Prepare the adjusting journal entries in the Adjusting Entries tab in the provided workbook. [ACC-307-01] 2. Transfer the values from the Adjusting Entries tab to the proper cells of the Adjusting Entries columns in the Worksheet tab. [ACC-307- 01] 3. Create the adjusted trial balance by computing the Adjusted Trial Balance columns using the Worksheet tab. [ACC-307-01] 4. Close temporary accounts by completing the Closing Entries tab. [ACC-307-01] 2 B. Prepare the financial statements: 1. Prepare an income statement for the provided company by completing the Income Statement tab in your workbook. [ACC-307-03] 2. Prepare a statement of retained earnings by completing the Statement of Retained Earnings tab. [ACC-307-03] 3. Prepare a balance sheet by completing the Balance Sheets tab. [ACC-307-03

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Explanation & Answer

I have reviewed the entire excel and I have also included formulas in the rations for 2017. Please let me know in case you have any concerns whatsoever. Thank you

Asset Accounts
Cash
Baking Supplies
Prepaid Rent
Prepaid Insurance
Baking Equipment
Office Supplies
Accounts Receivable
Accumulated Depreciation
Trademark
Leasehold Improvements
Accumulated Amortization

Acct #
101
102
103
104
105
106
107
108
109
110
111

This chart of accounts should help you identify the appropriate accounts to record to as you are analyzing
and journaling transactions for this workbook. There is nothing to complete on this page; this is simply a
resource for you.

Liability Accounts
Notes Payable
Accounts Payable
Wages Payable
Interest Payable
Loans Payable

the appropriate accounts to record to as you are analyzing
There is nothing to complete on this page; this is simply a
ource for you.

Acct #
201
202
203
204
205

Equity Accounts
Acct #
301
302

Common Stock
Dividends

Revenue Accounts
Acct #
401
402

Bakery Sales
Merchandise Sales

Expense Accounts
Baking Cost of Goods Sold
Merchandise Cost of Goods Sold
Rent Expense
Insurance Expense
Misc. Expense
Business License Expense
Advertising Expense
Wages Expense
Telephone Expense
Interest Expense
Depre...


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