Building Blocks of Accounting .. A Financial Perspective
wei, when you are ready to have your work graded you will upload this file
WX8173.xls or WX8173.xlsx,
to the same screen that the project was downloaded from:
www.cybertext.com, The Book List, Building Blocks of Accounting .. A Financial Perspective, Enter
password, Upload Your Excel File.
Keep two copies of your spreadsheet in two separate places in case one does not work.
You may find it easier to work on this project if you print a hard copy of all the pages.
NOTE:
If there are any questions about the project e-mail [email protected] or call 305.284.6296.
Grade will be based upon answers entered into the shaded boxes.
F911
180809
Elf Village
Productions
50 Sheet
Legal Pad
Building Blocks of Accounting .. A Financial Perspective
Page 1
FAQ
FAQ 01
My file used to upload, why is it not uploading?
Answer:
Sometimes we unknowingly add items to a workbook that inhibits the upload process. The conversion to a Excel Binary
Workbook (*.xlsb) version generally fixes the problem. If the problem continues simple send your BINARY file
as an attachment with your username and password…[email protected]
Windows Operating System
Select File
Select Save As
Select Save As Type:
Select Excel Binary Workbook (*.xlsb)
Select Save
Select Continue or Yes if prompted or if it indicates that there is limited memory.
Upload the binary file at cybertext.com
Apple Operating System
Select File
Select Save As
Select Format:
Select Excel Binary Workbook (*.xlsb)
Select Save
MF1234.xlsx
Upload the binary file at cybertext.com
Excel
Binary Workbook (.xlsb)
Elf Village
Productions
50 Sheet
Legal Pad
Building Blocks of Accounting .. A Financial Perspective
Page 2
FAQ
FAQ 02
When I try to enter information in the General Journal why does an error appears indicating that the cell protected?
Answer:
The computer program is designed to save you time. Instead of requiring you to enter the description four
times the program automatically copies the description when you enter a new account number. This process
requires that the data entry is limited to those cells which contain unique information. The cells that you can
enter data into are the yellow filled cells.
FAQ 03
In the feedback section, what does it mean when I have points under reverse?
Answer:
If you pay a telephone expense of $100.00
Telephone Expense
100
Cash
100
If you debit cash and credit telephone expense you have reversed the whole entry.
Cash
100
Telephone Expense
100
If you debit cash and credit anything else you have reversed part of the entry.
Cash
100
Rent Expense
100
Elf Village
Productions
50 Sheet
Legal Pad
Building Blocks of Accounting .. A Financial Perspective
FAQ
FAQ 04
How does my instructor get my grade?
Answer:
Every time you upload your grade is recorded in a table. Your instructor can look at the table whenever they
want to, although only the last grade counts. Keep a hard copy of your last upload for documentation.
FAQ 05
I have entered all the transactions and have completed the worksheet however I get following
message on the financial statements: “You must finish the worksheet before you can complete the ….”
Answer:
The worksheet demonstrates that the accounting system is working. If all of your journal entries are
in balance then the Unadjusted Trial Balance and the Adjusting Entry columns will balance. The
Adjusted Trial Balance columns net the Unadjusted Trial Balance and the Adjusting Entry columns.
There are four steps to completing the worksheet:
1. Copy the account balances from the Adjusted Trial Balance into the either the Income Statement or the
Balance Sheet columns, (debits remain debits and credits remain credits).
2. Calculate the Net Income or Net Loss by finding the difference between the revenues and expenses.
3. Calculate the Net Income or Net Loss by finding the difference between the total of the debit balances and
the total of the credit balances of the accounts in the Balance Sheet columns of the worksheet.
4. Compare the two Net Incomes. If they are the same the financial statements will be displayed, otherwise
there is an error in the completion of the worksheet.
Page 3
Building Blocks of Accounting — A Financial Perspective
The instructions start on row 22 of this page.
FIRST
wei
LAST
xu
SS
8173
File
WX8173
Welcome to the world’s first ePractice case, an individualized, internet generated and graded case study that focuses on the
analytically portion of the accounting cycle while automating the repetitive posting cycle.
NOTE: If the program is not working e-mail [email protected], 305.284.6296.
Step I – The Chart of Accounts
The chart of accounts includes all of the accounts that you can use to solve your case. You may want to print the chart of
accounts and use it as an easy reference guide.
Step II – Journalizing the Transactions.
Using your unique transactions record the corresponding general journal entry, rounding to two decimal places.
For example,
01
June 1: Hudson Bloom made a $40,000 cash investment in his business, Byte of Accounting.
01
Description
Cr
ed
it
Name
De
bi
t
Ac
co
un
t
Da
te
Tr
an
sa
ct
io
n
In the date field enter the date of the transaction. If you do not enter a date value an error message will appear.
Jun 01
01
Jun 01
Description
Cr
ed
it
Name
De
bi
t
Ac
co
un
t
Da
te
Tr
an
sa
ct
io
n
In the account field enter the account number that corresponds to the account in the chart of accounts.
You can also use the pull down list to find the appropriate account number. If you use a number that
is not on the chart of accounts an error message will appear.
1110 Cash
The name of the account will automatically appear in the name column. If it is the wrong
account renter the correct account number.
01
Jun 01
1110 Cash
Enter the amount in the debit field.
Description
Hudson’s investment
Cr
ed
it
Name
De
bi
t
Ac
co
un
t
Da
te
Tr
an
sa
ct
io
n
Enter the description in the description field.
Cr
ed
it
Description
De
bi
t
Ac
co
un
t
Da
te
Tr
an
sa
ct
io
n
Name
Transaction # 1 Not in Balance by $40,000.
01
Jun 01
1110 Cash
Hudson’s investment
40,000.00
Description
Cr
ed
it
Name
De
bi
t
Ac
co
un
t
Da
te
Tr
an
sa
ct
io
n
Enter the second account number.
Transaction # 1 Not in Balance by $40,000.
01
Jun 01
1110
3100
Cash
Hudson’s investment
Capital Stock
Hudson’s investment
40,000.00
01
Jun 01
1110
3100
Description
Cash
Hudson’s investment
Capital Stock
Hudson’s investment
Cr
ed
it
Name
De
bi
t
Ac
co
un
t
Da
te
Tr
an
sa
ct
io
n
Enter the amount in the credit field.
40,000.00
40,000.00
Step III – Worksheet
Although not graded, you need to complete the Worksheet. If each of your journal entries are in balance then your
Unadjusted Trial Balance, the Adjusting Entry and Adjusted Trial Balance columns will be in balance.
1. Copy the account balances from the Adjusted Trial Balance into the either the Income Statement or the
Balance Sheet columns, (debits remain debits and credits remain credits).
2. Calculate the Net Income or Net Loss by finding the difference between the revenues and expenses.
3. Calculate the Net Income or Net Loss by finding the difference between the total of the debit balances and
the total of the credit balances of the accounts in the Balance Sheet columns of the worksheet.
4. Compare the two Net Incomes. If they are the same the financial statements will be displayed, otherwise
there is an error in the completion of the worksheet.
Press Here To Create The
Step IV – Prepare the Financial Statements.
After you have entered all of the transactions and prepared the Worksheet, you are to prepare the Income Statement,
Shareholder’s Equity Statement and Balance Sheet using the forms provided.
Step V – Prepare the Closing Entries.
Based upon the information from your Worksheet or from your Financial Statements, prepare the closing entries.
Step VI – Upload the File.
Whenever you want to have cybertext.com grade your work submit it to them on the bottom of the screen that you
downloaded the file.
Grading:
You will be graded on the Journal Entries and the three financial statement. The case will be computer graded,
therefore make sure all numbers are in the appropriate cells. The computer will evaluate your transactions when
grading your financial statements.
Note:
Save and make backup copies regularly.
Number
1110
1120
1121
1130
1140
1150
1211
1212
1311
1312
1411
1412
1510
2101
2102
2103
2105
2106
2201
2202
3100
3110
3200
3300
3400
4100
5010
5020
5030
5040
5050
5080
5090
5100
5110
5120
5130
5140
5150
Name
Cash
Accounts Receivable
Allowance for Doubtful Accounts
Prepaid Insurance
Prepaid Rent
Office Supplies
Office Equip.
Accum. Depr.-Office Equip.
Computer Equip.
Accum. Depr.-Computer Equip.
Building
Accum. Depr.-Building
Land
Accounts Payable
Advanced Payments
Interest Payable
Salaries Payable
Income Taxes Payable
Mortgage Payable
Notes Payable
Capital Stock
Paid-in Capital in Excess of Par Value
Retained Earnings
Dividends
Income Summary
Computer & Consulting Revenue
Rent Expense
Salary Expense
Advertising Expense
Repairs & Maint. Expense
Oil & Gas Expense
Supplies Expense
Interest Expense
Insurance Expense
Depreciation Expense
Bad Debt Expense
Bank Expense
Telephone Expense
Income Tax Expense
Normal Balance
Debit
Debit
Credit
Debit
Debit
Debit
Debit
Credit
Debit
Credit
Debit
Credit
Debit
Credit
Credit
Credit
Credit
Credit
Credit
Credit
Credit
Credit
Credit
Debit
Credit
Credit
Debit
Debit
Debit
Debit
Debit
Debit
Debit
Debit
Debit
Debit
Debit
Debit
Debit
Error #
1
2
4
8
16
32
64
128
256
512
1024
Message
Debit And Credit On Same Line
Debit Before Credit
Need An Account Number
Round To Two Decimal Places
Need a Description
Need a Date
Byte of Accounting
wei xu 8348
Transaction
Description of transaction
June 1: Jeremy made an investment in Byte of Accounting, Inc., by purchasing 2,640 shares of its
01. common stock paying $35,200 in cash and by contributing computer equipment with a fair market value
of $49,280. The par value of the common stock was $28 per share.
02.
June 1: Courtney made an investment in Byte of Accounting, Inc., by purchasing 504 shares of its
common stock by contributing computer equipment with a fair market value of $14,720 and office
equipment with a fair value of $1,408. The par value of the common stock was $28 per share.
03.
June 1: wei xu made an investment in Byte of Accounting, Inc. by purchasing 5,250 shares of its
common stock for $168,000 cash. The par value of the common stock was $28 per share.
04.
June 2: Check # 5002 was used to make a down payment of $32,000.00 on additional computer
equipment that was purchased from Royce Computers, invoice number 76542. The full price of the
computer was $160,000.00. A five-year note was executed by Byte for the balance.
05.
June 4: Additional office equipment costing $500.00 was purchased on credit from Discount Computer
Corporation. The invoice number was 98432.
06.
June 8: Unsatisfactory office equipment costing $100.00 from invoice number 98432 was returned to
Discount Computer for credit to be applied against the outstanding balance owed by Byte.
07.
June 10: Check # 5003 was used to make a $24,500.00 payment reducing the principal owed on the June
2 purchase of computer equipment from Royce Computers.
08.
June 10: Purchased office supplies for $1,900.00 from Staples on account. The invoice number was
61298. Included in the purchase was 10 units of Super RoutePro at a cost of $45.00 each.
09.
June 14: Check # 5004 was used to purchase a one-year insurance policy covering its computer
equipment for $6,312.00 from Seth’s Insurance. The effective date of the policy was June 16 and the
invoice number was 2387.
10.
June 16: Checks in the amount of $8,760.00 was received for services performed for cash customers.
June 16: Byte purchased a building and the land it is on for $95,000.00 to house its repair facilities and
to store computer equipment. The lot on which the building is located is valued at $15,000.00. The
11. balance of the cost is to be allocated to the building. Check # 5005 was used to make the down payment
of $9,500.00. A thirty year mortgage with an inital payement due on August 1st, was established for the
balance.
12.
June 17: Check # 5006 for $6,000.00 was paid for rent of the office space for June, July and August.
13.
June 17: Received invoice number 26354 in the amount of $475.00 from the local newspaper for
advertising.
14.
June 21: Billed various miscellaneous local customers $4,800.00 for consulting services performed.
15.
June 21: Check # 5007 was used to purchase a fax machine for the office from Office Machines Express
for $875.00. The invoice number was 975-328.
16.
June 21: Accounts payable in the amount of $400.00 were paid with Check # 5008.
17.
June 22: Check # 5009 was used to pay the advertising bill that was received on June 17.
18.
June 22: Received a bill for $1,315.00 from Computer Parts and Repair Co. for repairs to the computer
equipment. The invoice number was 43254.
19.
June 22: Check # 5010 was used to pay salaries of $935.00 to equipment operators for the week ending
June 18. Ignore payroll taxes.
20.
June 23: Cash in the amount of $3,845.00 was received on billings.
21.
June 23: Purchased office supplies for $950.00 from Staples on account. The invoice number was
65498. Included in the purchase was 10 units of Super RoutePro at a cost of $49.00 each.
22.
June 28: Billed $5,280.00 to miscellaneous customers for services performed to June 25.
23.
June 29: Cash in the amount of $5,001.00 was received for billings.
24.
June 29: Paid the bill received on June 22, from Computer Parts and Repairs Co with Check # 5011.
25.
June 29: Check # 5012 was used to pay salaries of $935.00 to equipment operators for the week ending
June 25. Ignore payroll taxes.
26.
June 30: Received a bill for the amount of $990.00 from O & G Oil and Gas Co. The invoice number
was 784537.
27.
June 30: Check # 5013 was used to pay for a cash dividend of $0.15 per share to Jeremy, a shareholder
of Byte.
28.
June 30: Check # 5014 was used to pay for a cash dividend of $0.15 per share to wei xu a shareholder of
Byte.
29.
June 30: Check # 5015 was used to pay for a cash dividend of $0.15 per share to Courtney, a shareholder
of Byte.
Adjusting Entries – Round to two decimal places.
30.
The rent payment made on June 17 was for June, July and August. Expense the amount associated with
one month’s rent.
31.
A physical inventory showed that only $403.00 worth of general office supplies remained on hand as of
June 30. This did not include any of the Super RoutePro. There were 5 units of Super RoutePro on
hand. We use FIFO to determine the valuation of the supplies.
32.
The annual interest rate on the mortgage payable was 7.00 percent. Interest expense for one-half month
should be computed because the building and land were purchased and the liability incurred on June 16.
33.
Record a journal entry to reflect that one half month’s insurance has expired.
34.
A review of Byte’s job worksheets show that there are unbilled revenues in the amount of $15,250 for
the period of June 28-30.
The fixed assets have estimated useful lives as follows:
35.
The Building and the Office Equipment have the following estimated useful lives:
Building – 31.5 years
Office Equipment – 7.0 years
Management has decided that assets purchased during a month are treated as if purchased on the first day
of the month. The building’s salvage value is $7,500.00. The office equipment has a salvage value of
$450.00. Calculate the depreciation for one month using the straight-line method of depreciation.
The Computer Equipment has an estimated useful life of 5.00 years.
Management has decided that assets purchased during a month are treated as if purchased on the first day
36. of the month. The computer equipment’s scrap value is $20,000.00. Calculate the depreciation for one
month using the double declining method of depreciation.
37.
A review of the payroll records show that unpaid salaries in the amount of $561.00 are owed by Byte for
three days, June 28 – 30. Ignore payroll taxes.
The note payable to Royce Computers (transactions 04 and 07) is a five-year note, with interest at the rate
of 12 percent annually. Interest expense should be computed based on a 360 day year.
[IMPORTANT NOTE: The original note on the computer equipment purchased on June 2 was
38.
$128,000.00. On June 10, eight days later, $24,500.00 was repaid. Interest expense must be
calculated on the $128,000.00 for eight days. In addition, interest expense on the $103,500.00 balance of
the loan ($128,000.00 less $24,500.00 = $103,500.00) must be calculated for the 20 days remaining in
the month of June.]
39.
Based on the information on the “Bank Reconciliation” sheet prepare the journal entry required to
increases cash.
40.
Based on the information on the “Bank Reconciliation” sheet prepare the journal entry required to
decreases cash.
41.
Our CPA has informed us to estimate that 2.00% of Computer & Consulting Revenue will be
uncollectable.
42.
Income taxes are to be computed at the rate of 25 percent of net income before taxes.
[IMPORTANT NOTE: Since the income taxes are a percent of the net income you will want to prepare
the Income Statements through the Net Income Before Tax line. The worksheet contains all of the
accounts and their balances which you can then transfer to the appropriate financial statement.]
Closing Entries
43.
Close the revenue accounts.
44.
Close the expense accounts.
45. Close the income summary account.
46.
Close the dividends account.
A Byte of Accounting
General Journal
To
ta
lB
al
an
ce
Description
C
re
di
t
Name
D
eb
it
A
cc
ou
nt
Tr
an
sa
ct
io
n
D
at
e
Note: You can only enter data into the yellow filled cells.
01
0
0
0
0
0
0
0
0
02
0
0
0
0
0
0
0
0
03
0
0
0
0
0
0
0
0
04
0
0
0
0
0
0
0
0
05
0
0
0
0
0
0
0
0
06
0
0
0
0
0
0
0
0
07
0
0
0
0
0
0
0
0
08
0
0
0
0
0
0
0
0
09
0
0
0
0
0
0
0
0
10
0
0
0
0
0
0
0
0
11
0
0
0
0
0
0
0
0
12
0
0
0
0
0
0
0
0
13
0
0
0
0
0
0
0
0
14
0
0
0
0
0
0
0
0
15
0
0
0
0
0
0
0
0
16
0
0
0
0
0
0
0
0
17
0
0
0
0
0
0
0
0
18
0
0
0
0
A Byte of Accounting
General Journal
To
ta
lB
al
an
ce
Description
C
re
di
t
Name
D
eb
it
A
cc
ou
nt
Tr
an
sa
ct
io
n
D
at
e
Note: You can only enter data into the yellow filled cells.
0
0
0
0
19
0
0
0
0
0
0
0
0
20
0
0
0
0
0
0
0
0
21
0
0
0
0
0
0
0
0
22
0
0
0
0
0
0
0
0
23
0
0
0
0
0
0
0
0
24
0
0
0
0
0
0
0
0
25
0
0
0
0
0
0
0
0
26
0
0
0
0
0
0
0
0
27
0
0
0
0
0
0
0
0
28
0
0
0
0
0
0
0
0
29
0
0
0
0
0
0
0
0
30
0
0
0
0
0
0
0
0
31
0
0
0
0
0
0
0
0
32
0
0
0
0
0
0
0
0
33
0
0
0
0
0
0
0
0
34
0
0
0
0
0
0
0
0
35
0
0
0
0
0
0
0
0
A Byte of Accounting
General Journal
To
ta
lB
al
an
ce
Description
C
re
di
t
Name
D
eb
it
A
cc
ou
nt
Tr
an
sa
ct
io
n
D
at
e
Note: You can only enter data into the yellow filled cells.
36
0
0
0
0
0
0
0
0
37
0
0
0
0
0
0
0
0
38
0
0
0
0
0
0
0
0
39
0
0
0
0
0
0
0
0
40
0
0
0
0
0
0
0
0
41
0
0
0
0
0
0
0
0
42
0
0
0
0
0
0
0
0
43
0
0
0
0
0
0
0
0
44
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
45
0
0
0
0
0
0
0
0
46
0
0
0
0
0
0
0
0
0
PublicBank
Byte of Accounting
P.O. Box 5551212, Miami, Florida 33999
Ph # (305) 555-1212
123 Speed Lane
Miami, Florida 33999
Previous Balance
Deposits/Credits
Checks/Debits
Ending Balance
Activity in date order
Date
Jun 01
Jun 07
4
Jun 15
7
Jun 16
10
Jun 21
11
Jun 22
Jun 22
Jun 22
12
Jun 23
20
Jun 24
Jun 26
15
Jun 26
16
Jun 27
17
Jun 27
Jun 27
19
Jun 29
4,780.00
(4,780.00)
(4,780.00)
Description
Deposit
Paid check # 5002
Paid check # 5003
Deposit
Paid check # 5005
NSF
NSF service charge
Paid check # 5006
Deposit
Paid check # 306
Paid check # 5007
Paid check # 5008
Paid check # 5009
Elec Remit AT&T Telephone
Paid check # 5010
Service Charge- Checks
Account Number
Statement Date
33999999
6/30/200x
Amount
0.00
Complete JE 4
Complete JE 7
0.00
Complete JE 11
-2,900.00
-25.00
Complete JE 12
Complete JE 20
-1,600.00
Complete JE 15
Complete JE 16
Complete JE 17
-195.00
Complete JE 19
-60.00
Balance
0.00
0.00
0.00
0.00
0.00
-2,900.00
-2,925.00
-2,925.00
-2,925.00
-4,525.00
-4,525.00
-4,525.00
-4,525.00
-4,720.00
-4,720.00
-4,780.00
-4,780.00
1
1
1
1
1
1
1
1
0
0
0
0
0
0
-2900
-25
150
-1600
1
195
9
60
Check # 306 is not our check
Our policy is to charge the customer for any charges related to NSF checks
The Deposit on Jun 16 was incorrectly recorded by the bank.
The Deposit on Jun 23 was correctly recorded by the bank. We do not modify the original journal entry.
Company’s Books
Ending Balance per books
Additions
1. Add to Books
2. Add to Bank
Bank Statement
0.00
Ending balance per bank
Additions
Total
Total
Deductions
Deductions
Ending Correct cash balance
Ending Correct cash balance
3. Deduct from Books
4. Deduct from bank
-4,780.00
A Byte of Accounting, Inc.
Worksheet
For Period Ending January 0, 1900
Account
Unadjusted Trial Balance
Number Name
Debit
Credit
1110 Cash
0.00
0.00
1120 Accounts Receivable
0.00
0.00
1121 Allowance for Doubtful Accounts
0.00
0.00
1130 Prepaid Insurance
0.00
0.00
1140 Prepaid Rent
0.00
0.00
1150 Office Supplies
0.00
0.00
1211 Office Equip.
0.00
0.00
1212 Accum. Depr.-Office Equip.
0.00
0.00
1311 Computer Equip.
0.00
0.00
1312 Accum. Depr.-Computer Equip.
0.00
0.00
1411 Building Cost
0.00
0.00
1412 Accum. Depr.-Building
0.00
0.00
1510 Land
0.00
0.00
2101 Accounts Payable
0.00
0.00
2102 Advanced Payments
0.00
0.00
2103 Interest Payable
0.00
0.00
2105 Salaries Payable
0.00
0.00
2106 Income Taxes Payable
0.00
0.00
2201 Mortgage Payable
0.00
0.00
2202 Notes Payable
0.00
0.00
3100 Capital Stock
0.00
0.00
3110 Paid-in Capital in Excess of Par Value
0.00
0.00
3200 Retained Earnings
0.00
0.00
3300 Dividends
0.00
0.00
0.00
0.00
4100 Computer & Consulting Revenue
0.00
0.00
5010 Rent Expense
0.00
0.00
5020 Salary Expense
0.00
0.00
5030 Advertising Expense
0.00
0.00
5040 Repairs & Maint. Expense
0.00
0.00
5050 Oil & Gas Expense
0.00
0.00
5080 Supplies Expense
0.00
0.00
5090 Interest Expense
0.00
0.00
5100 Insurance Expense
0.00
0.00
5110 Depreciation Expense
0.00
0.00
5120 Bad Debt Expense
0.00
0.00
5130 Bank Expense
0.00
0.00
5140 Telephone Expense
0.00
0.00
5150 Income Taxes Expense
0.00
0.00
Total
NET INCOME
Balance
`
0.00
0.00
Adjusting Entries
Debit
Credit
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Adjusted Trial Balance
Debit
Credit
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Income Statement
Debit
Credit
Balance Sheet
Debit
Credit
0
0
0
A Byte of Accounting
Income Statement
For Month Ending January 0, 1900
You must finish the worksheet before you can complete the Income Statement, see FAQ 05.
4100
Revenues
Computer Revenue
Expenses
Rent Expense
Salary Expense
Advertising Expense
Repairs & Maint. Expense
Oil & Gas Expense
Supplies Expense
Interest Expense
Insurance Expense
Depreciation Expense
Bad Debt Expense
Bank Expense
5110 Telephone Expense
Total
5010
5020
5030
5040
5050
5080
5090
5100
5110
5120
Net Income Before Tax
Income Tax Expense (Round to two decimal places)
Net Income After Tax
Round to two places
Worksheet!I49
Worksheet!L49
Worksheet!G50
0
0
0
A Byte of Accounting, Inc.
Statement of Changes in Retained Earnings
For Month Ending January 0, 1900
You must finish the worksheet before you can complete the Changes in Retained Earnings,see FAQ 05.
Total
Balance, Beginning of Period
Net Income
Dividends
Balance, End of Period
0
d
A Byte of Accounting
Balance Sheet
As of January 0, 1900
You must finish the worksheet before you can complete the Balance Sheet, see FAQ 05.
Assets
1110
1120
1121
1130
1140
1150
1211
1212
Current Assets
Cash
Accounts Receivable
Allowance for Doubtful Accounts
Prepaid Insurance
Prepaid Rent
Office Supplies
Total
Long-Term Assets
Office Equip.
Accum. Depr.-Office Equip.
1311
1312
Computer Equip.
Accum. Depr.-Computer Equip.
1411
1412
Building Cost
Accum. Depr.-Building
1510
Land
Total
Total Assets
Liabilities
2101
2102
2103
2105
2105
2201
2202
Current Liabilities
Accounts Payable
Advanced Payment
Interest Payable
Salaries Payable
Income Taxes Payable
Total
Long-Term Liabilities
Mortgage Payable
Notes Payable
Total
Total Liabilities
Stockholder’s Equity
Paid-in Capital
Capital Stock
Paid-in Capital in Excess of Par Value
Total Paid-in Capital
Retained Earnings
Total Sockholder’s Equity
Total Liabilities and Stockholder’s Equity
How to Create a Pivot Table
1. Log in
2. Download the pdf instructions

Purchase answer to see full
attachment