Sole Proprietorship Company Accounting Assignment Help With Solution
Final Project Instructions
Your company is a sole proprietorship that sells various specialty parts to other companies. As the company’s chief accounting officer, your assignment is to finish the year-end closing and prepare financial statements for the year.
1. Using these instructions, and the assumptions, accounting policies, chart of accounts and transaction descriptions provided in the template, perform the following steps using the Excel template provided:
Part 1 – Review the template, complete the bank reconciliation and post the trial balance.
a. Download the Excel template from Shared Files and review it in detail. If you have any questions, be sure to ask your instructor.
b. Then click on the Bank Reconciliation tab, and complete the bank reconciliation for the month of December, using the information and reconciliation form provided. If there are any transactions that are identified that will require adjustment in your general ledger, make note of them for use when preparing adjusting entries in Week 6.
c. The General Ledger page contains all the general ledger accounts and unadjusted balances for December 31. Transfer all the account balances to the Preliminary Trial Balance columns on the Trial Balance page. Be sure your trial balance is in balance before proceeding.
How it Works
How It works ?
Step 1:- Click on Submit your Assignment here or shown in left side corner of every page and fill the quotation form with all the details. In the comment section, please mention product code mentioned in end of every Q&A Page. You can also send us your details through our email id firstname.lastname@example.org with product code in the email body. Product code is essential to locate your questions so please mentioned that in your email or submit your quotes form comment section.
Step 2:- While filling submit your quotes form please fill all details like deadline date, expected budget, topic , your comments in addition to product code . The date is asked to provide deadline.
Step 3:- Once we received your assignments through submit your quotes form or email, we will review the Questions and notify our price through our email id. Kindly ensure that our email id email@example.com and firstname.lastname@example.org must not go into your spam folders. We request you to provide your expected budget as it will help us in negotiating with our experts.
Step 4:- Once you agreed with our price, kindly pay by clicking on Pay Now and please ensure that while entering your credit card details for making payment, it must be done correctly and address should be your credit card billing address. You can also request for invoice to our live chat representatives.
Step 5:- Once we received the payment we will notify through our email and will deliver the Q&A solution through mail as per agreed upon deadline.
Step 6:-You can also call us in our phone no. as given in the top of the home page or chat with our customer service representatives by clicking on chat now given in the bottom right corner.
Features for Assignment Help
We believe in providing no plagiarism work to the students. All are our works are unique and we provide Free Plagiarism report too on requests.
We believe in providing perfect, relevant and 100% accurate solutions to the student as per questions asked. All our experts are perfect in providing that so as to give unique experience to the students.
We are the only service providers boasting of providing original, relevant and accurate solutions. Our three stage quality process help students to get perfect solutions.
All our works are kept as confidential as we respect the integrity and privacy of our clients.
- Physics Assignment Help
- Chemistry Assignment Help
- Engineering Assignment Help
- Psychology Assignment Help
- Online exam Help
- Marketing Assignment Help
- Arts Assignment Help
- Sociology Assignment Help
- Project Management Assignment
- Case Study Help
- Nursing Assignment Help
- Research Assignment Help
- Operations Management Assignment help
- Accounting Assignment Help
- Biology Assignment Help
- Mathematics Assignment Help
- English Assignment Help
- Business Plan Help
- Essay Writing Help
- Human Resource Assignment Help
- Accounting Homework Help
- Computer Science Assignment Help
- Finance Assignment Help
- Economics Assignment Help
- Statistics Homework Help
- Management Assignment Help
- Strategy Management Assignment Help
- Auditing Assignment Help
- Information Management Assignment Help
- Online Assignment Writing help
- Best Assignment Help
- Humanities Assignment help
Part 2 – Complete the inventory pricing analysis and depreciation schedule.
a. Click on the Inventory Calculation tab, and use the worksheet provided to determine the December 31 inventory cost. Your company uses the average cost method and a perpetual costing system. Compare your final cost with the cost in the general ledger, and note any differences for use when preparing adjusting entries in Week 6.
b. Click on the Equipment Schedule tab and use the worksheet provided to calculate depreciation on the company’s equipment for the year. You will use the depreciation amount when preparing adjusting entries in Week 6.
Part 3 – Prepare adjusting entries, post to the trial balance and complete the trial balance.
a. Click on the transactions tab, and review the descriptions for the eight adjusting entries you will prepare. Click on the General Journal tab and use the journal form provided to prepare your adjusting entries. Be sure to provide a brief description for each entry.
b. Post your adjusting entries in the Adjustments column of the Trial Balance, and calculate new balances for each account in the Adjusted Trial Balance columns. Make sure your trial balance is still in balance.
c Extend all the adjusted balances to either the Income Statement or Balance sheet columns, as appropriate. At this point both the Income Statement and Balance Sheet columns will not balance by the amount of net income for the year.
Part 4: Prepare financial statements and closing entries.
a. Using the information in the Trial Balance, and the Income Statement, Owner’s Capital and Balance Sheet pages, prepare these three financial statements for the year. You will need to prepare them in that order. Be sure that the Balance Sheet does balance before you finish.
b. Using the journal form on the Closing Entries page, prepare all necessary closing entries for the year.
Product Code : Acc14
To get answer for this question, kindly click here (Note: Don’t forget to write the product code in comment section)
You can also email us at email@example.com but please mentioned product code in the mail body while sending emails.You can browse more questions to get answer in our Q&A sections here.