Reference no: EM131667426
Task requirements A:
1. Using the Summary of Transactions Nicholas has produced, prepare the required general journals in Excel worksheet 'General entries'. Narrations are required.
- You need to record transactions in the prescribed order so that your feedback will function properly (i.e. the transaction numbers must correspond to the Journal Reference numbers).
- Journals have been set up to accept only the correct:
- $ value of journal entries (for both debit & credit sides);
- Balancing of entries (i.e. Column Totals);
- Do not leave blank lines between your journal entries;
- Your description for each journal (i.e. the narration) & account choice for each journal will not be corrected;
- Take care with your journal entries. If you select the incorrect accounts for your transaction journals, then your T-Accounts will be wrong when you attempt to post your entries to them and your 10-Column Worksheet will not accept incorrect $values.
2. Once the journals have been prepared, post the journal entries to the T-Accounts in Excel worksheet 'T-Accounts'.
You must ensure that each T-Account is balanced (show this in the Totals).
3. Prepare the Unadjusted Trial Balance in the 10-column worksheet in Excel worksheet 'July Worksheet': The worksheet has been set up to accept only the correct values in the correct position within the worksheet. It is important to ensure all your entries are correct prior to proceed to the 10-Column worksheet.
Task requirements B:
1. Using the summary of adjustments that Nicholas has produced, prepare the required adjusting entries in Excel worksheet 'Adjusting'. Narrations are required.
- You need to prepare the adjusting entries in the prescribed order so that your feedback will function properly (i.e. the adjustment numbers must correspond to the Journal Reference numbers). Do not leave blank lines between your journal entries;
- Your description (i.e. the narration) and account choice for each journal will not be corrected;
- Take care with your journal entries. If you select the incorrect accounts for your adjusting journals, then your T-Accounts will be wrong when you attempt to post your entries to them and your 10-Column Worksheet will not accept incorrect $values.
2. After the adjusting entries have been prepared, post the adjusting entries to the T-Accounts in Excel worksheet 'T-Accounts':
- Post the journals in same order as instructed for the feedback to function properly;
- You must ensure that each T-Account is balanced (i.e. you will need to amend the totals for the T-Accounts to which you have posted the adjusting entries).
3. Complete the second 2 columns of the 10-column worksheet in Excel worksheet 'July Worksheet', for the adjusting entries and then generate the Adjusted Trial Balance using columns 5 and 6:
- The worksheet has been set up to accept only the correct values in the correct positions within the worksheet. It is important to ensure all your entries are correct prior to proceed to the 10-Column worksheet.
Attachment:- Assignment Files.rar