Portfolio Project

ACT300_Portfolio_Project_Template_Option_01_Part_02_Module_08.xlsx

Montana Construction Company

ACT300 Principles of Accounting I
Module 8: Portfolio Project Template Option #1, Part 2								BE SURE TO CREATE A FINANCIAL STATEMENTS FROM THE ADJUSTED TRIAL BALANCE
Montana Construction Company
Montana Construction Co, Adjustments December 31, 20X7								[Company Name]
Adjust #	Account Names		Debit	Credit				Income Statement
1								[date]

2
								Revenues:
3								List names						$ -
4								Expenses:
								List names			0
5											0
											0
6											0
											0
7											0
											0
8								Total expenses						$ -
								Net income						-
Montana Construction Co, Adjustments December 31, 20X7
		Unadjusted Trial Balance		Adjustments		Adjusted Trial Balance
Acct #	Account Names	Debit	Credit	Debit	Credit	Debit	Credit
101	Cash	$7,000
126	Supplies	$16,000
128	Prepaid insurance	$12,600						[Company Name]
167	Equipment	$200,000						Statement of Stockholders' Equity
168	Accumulated depreciation - equipment		$14,000					[date]
201	Accounts payable		$6,800
251	Long-term notes payable		$30,000
301	Stockholders' equity		$86,900
302	Dividends	$12,000						Stockholders' Equity, [date]						$ - 0
401	Demolition fees earned		$187,000					Plus: Additional shareholder investment				0
623	Wage expense	$41,400						Net income				0
633	Interest expense	$3,300
640	Rent expense	$13,200						Less: Dividends						$ -
683	Property tax expense	$9,700						Stockholders' Equity, [date]						$ - 0
684	Repair expense	$4,700
690	Utilities expense	$4,800
								[Company Name]
								Balance Sheet
	TOTALS	$324,700	$324,700	$0	$0	$0	$0	[Date]

									Assets				Liabilities & Stockholders' Equity
										$ -					$ -
										-					-
										-					-
										-		Total Liabilities			-
										-
															$ -
															-
												Total stockholders' equity			$ -
								Total Assets		$ -		Total liabilities and stockholders' equity			$ -