Solved by verified expert :Hartford General Store, Inc.
Student
# 1:
Student
# 2:
Instructions
1. Using the Chart of Accounts provided,
record the transactions in the General Journal. Do not add new accounts.
Be sure to include a brief description
of the transaction.
2. Post the General Journal entries to the
General Ledger.
3. Prepare the Unadjusted Trial Balance in the
Trial Balance tab.
4. Journalize any adjusting entries in the
General Journal and post to the General Ledger.
Show your calculations for the
adjustments in the Adjustments tab.
5. Prepare the Adjusted Trial Balance in the
Trial Balances tab and complete the worksheet.
6. Prepare the Balance Sheet, Income
Statement, Statement of Shareholder’s Equity, and Statement of Cash
Flows (direct method) for the period
of July 1 – July 31, 20xx. Ignore the
effects of income tax.
7. Close the temporary accounts and record the
closing entries in the General Journal.
Post the closing entries in the
General Ledger.
IMPORTANT
NOTE: This case must be completed in
Excel or another spreadsheet program saved in an xls. format.
Submissions that are not in xls.
format will not be accepted.
See Blackboard and the syllabus for
additional information and due date.
Check
figures:
Unadjusted Trial Balance Totals =
$189,500.00
Adjusted Trial Balance Totals =
$194,397.50
Net Income = $802.50
