How do you do this?

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copy_of_week_4_assignment_abby_s_emplyment_agency2.xls
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Problem Description

MONROE COLLEGE
In March, Abby's Employment Agency had the following transactions:
20XX
March 1 Abby Todd invested $5,000 in the new employment agency.
4 Bought equipment for cash $200.
5 Earned employment fee for $200, but payment from Blue Co. will not be
received until June.
6 Paid wages expenses of $300.
7 Abby Todd paid her home utility bill from the company checkbook, $74.
9 Placed Rick Wool at VCR Corporation, receiving $1,200 cash.
15 Paid cash for supplies, $200.
28 Telephone bill received but not paid, $180.
29 Advertising bill received but not paid, $400.
The Chart of Accounts includes: Cash 111, Accounts Receivable 112, Supplies 131, Equipment 141
Accounts Payable 211 A. Todd Capital 311, A. Todd Withdrawal 321, Employment Fees
Earned 411, Wages Expense 511, Telephone Expense 521, Advertising Expense 531.
Instructions: (Click on tabs below for different accounting records.) Your task is to:
1) Journalize. Record the transactions in the General Journal in date order.
2) Set up T-accounts in a ledger (already done)..
3) Record transactions amounts in the individual T-accounts ( Place the date of the transaction
next to the entry. DR column entries, put date on left - CR column entries, put date on right).
3) Foot the T-accounts where appropriate and get the net balance for each account.
4) Prepare a Trial Balance and ensure that Total debits = Total credits.
Note re: Excel spreadsheet:
General Journal
Input dates in date column as labels and input transaction amounts in DR/CR
columns as numeric values
General ledger T Accounts
Input the dollar amounts as numeric values
and input formulas to calculate column totals. Enter dates in the columns
to the right and left of the entries in the T accounts.
Trial Balance
Input net balances from the T accounts in to Trial Balance as numeric values
and use a formula to get the total DR's and total CR's

T-Accounts

ABBY'S EMPLOYMENT AGENCY
GENERAL LEDGER T ACCOUNTS
Cash 111 Equipment 141 Withdrawals 321 Wages expense 511
4/1 7,000 2,000 4/4 4/4 2,000 4/7
4/9 1,500 400 4/6
100 4/7
300 4/15
Accounts receivable 112 Accounts payable 211 Employment fees earned 411 Telephone expense 521
Supplies 131 Capital 311 Advertising expense 531

Trial Balance

ABBY'S EMPLOYMENT AGENCY
TRIAL BALANCE
MARCH 31, 20XX DEBIT CREDIT
Cash
Accounts receivable
Supplies
Equipment
Accounts payable
Capital
Withdrawals
Employment fees earned
Wages expense
Telephone expense
Advertising expense
Totals

Income Statement

INCOME STATEMENT
SUB-TOTAL TOTAL

Statement of Owners Equity

STATEMENT OF OWNER'S EQUITY
SUB-TOTAL TOTAL

Balance Sheet

BALANCE SHEET
LIABILITIES (PLUS)
ASSETS SUB-TOTAL TOTAL OWNER'S EQUITY SUB-TOTAL TOTAL

General Journal

ABBY'S EMPLOYMENT AGENCY
GENERAL JOURNAL
(Acct #)
DATE (letter) Acct Title and Explanation LP Dr Cr
40
35

Sheet2

PETE'S DELIVERY SERVICE
GENERAL JOURNAL
DATE(Letter) ACCOUNT TITLES AND EXPLANATION REF. DEBIT CREDIT