Financial Accounting

Note: This is a two part assignment; both parts need to be submitted for grading.

Adjusting Entries and the Trial Balance

Review the unadjusted trial balance for Smith Construction and the information needed for the month-end adjustments in the Excel Template.

Requirements:

• Prepare the adjusting entries for the period ending May 31.
• Prepare the adjusted trial balance for the period ending May 31.

Closing Entries and the Post Closing Trial Balance

Review the adjusted trial balance for Smith Construction for the period ending May 31 2010 in the Excel Template.

Requirements:

• Prepare the Income Statement.
• Prepare the Statement of Retained Earnings.
• Prepare the Balance Sheet.
• Prepare the three closing entries.
• Prepare the Post Closing Trial Balance.

Submit your completed assignment to the drop box below. Please check the Course Calendar for specific due dates.

Save your assignment as an Excel document. (Mac users, please remember to append the ".xlsx" extension to the filename.) The name of the file should be your first initial and last name, followed by an underscore and the name of the assignment, and an underscore and the date. An example is shown below:

Jstudent_exampleproblem_101504

Need Help? Click here for complete drop box instructions.