Accounting Project (Excel)

Students are required to prepare Excel Spreadsheets with tabs for Journal Entries, T Accounts, Trial Balances, and Financial Statements.

Record all transactions and prepare financial statements within the Excel Spreadsheet

Requirements:

1) Using the Balance Sheet information, enter the beginning balances in the T-Accounts.

2) On the following sheet, use the Transaction Information to journalize entries, 1 – 10.

3) Post each entry into the T-Accounts. When finished journalizing, calculate the account balance for each T-Account.

4) Create an Unadjusted Trial Balance.

5) Journalize adjusting journal entries 1 – 4

6) Post Adjusting Journal entries to T-accounts

7) Prepare Adjusted Trial Balance

8) Prepare:

a. Income Statement

b. Statement of Owner’s Equity

c. Balance Sheet

9) Write the four closing entries, post them to the T-Accounts and determine the ending balance for each account.

10) Create the Post Closing Trial Balance from the T-accounts.

Transaction Information

Entry #

1. Supplies are purchased on account for $1,000.

2. One year of insurance is purchased for cash, costing $3,600.

3. Paid rent expense of $2,000 for current month.

4. The receivables from the prior month are collected.

5. The account payables from the prior month are paid.

6. Paid $750 of wage expenses to employees, of which $50 is accrued from the prior month.

7. Received $1,500 from a customer in advance of providing the services.

8. A $450 utility bill for the current month is received. Payment is due next month on the 15th.

9. Services are performed for customers on account. Invoices totaling $5,600 are mailed to the customers.

10. The owner withdrew $750 for personal use.

Additional information for adjusting entries (to be used after unadjusted trial balance is prepared):

1. Supplies on hand at the end of the month are $400.

2. Record one month of insurance expense.

3. Accrue $100 wages

4. The December 31 balance in Unearned Revenue is $1,000

Speedy Delivery Company  

Balance Sheet

November 30, 2017

Assets Liabilities

Cash 7,000 Accounts Payable 290

Accounts Rec 3,000 Wages Payable 50

Supplies 100 Owner’s Equity

Speedy, Capital 9,760

Total Assets 10,100 Total Liab. & O.E. 10,100

Company MNO generates between 11000 and 15000 million dollars revenue per year. Suppose that the company's revenue stays within this range. Use an interest rate of 9.75% per year compounded continuously. Fill in the blanks in the paragraph below, rounding your answers to the nearest tenth.

The present value of MNO's revenue over a five year period is between _______________ and ______________ million dollars.

Over a twenty-five year period, the present value falls between ____________ and _____________ million dollars

7aresh company has these accounts on 31st december 2019:

• Cash of $9,380
• Wage Expense of $300
• Accounts Payable of $8,900
• Cost of Goods Sold of $5,900
• Unearned Revenue of $1,170
• Gain on Sale of Equipment of $120
• Inventory of $6,230
• Sales Revenue of $7,510
• Interest Expense of $1,280
• Common Stock (no par value) of $4,610
• Rent Revenue of $1,230
• Retained Earnings of $2,030
• Depreciation Expense of $365
• Prepaid Insurance of $2,100

as of december 31st 2019, provide 7aresh's journal entry

A banking executive studying the role of trust in creating customer advocates has determined that 41 % of banking customers have complete​ trust, 45 % of banking customers have moderate​ trust, and 14 % have minimal or no trust in their primary financial institution. Of the banking customers that have complete​ trust, 69 % are very likely to recommend their primary financial​ institution; of the banking customers that have moderate​ trust, 18 % are very likely to recommend their primary financial​ institution; and of the banking customers that have minimal or no​ trust, 3 % are very likely to recommend their primary financial institution. Complete parts​ (a) and​ (b) below. a. Compute the probability that if a customer indicates he or she is very likely to recommend his or her primary financial​ institution, the banking customer also has complete trust.

Write and run SQL statements to complete the following tasks

1. Show the details of the employees who are located in area code 901 and their manager employee number is 108.
2. Show the details of the employees who are also mangers.
3. Show the details of the customers whose balance is greater than 220 but less than 500.
4. Show the details of the customers whose balance is highest.
5. Show customer 10014’s name and the product’s descriptions which he/she purchased and the number of units of each.
6. List the names of customers and the number of invoices each customer has generated.
7. Show the codes and names of the customers who have not generated any invoice.
8. Add a new attribute (column) engaged varchar(3) to the customer table and update the engaged attribute for the customers who have not generated any invoice to ‘No’.

The number of female customers arriving to a coffee shop follow a Poisson process with a mean rate of 3 per hour. The number of male customers arriving to the same coffee shop also follow a Poisson process with a mean rate of 6 per hour and their arrival is independent of the arrivals of female customers.

a) What is the probability that the next customer will arrive within 5 minutes?

b) What is the probability that exactly thee customers will arrive in the next 5 minutes?

c) What is the probability of exactly two male and exactly one female customer will arrive in the next 5 minutes?

d). Parts b) and c) ask for the probability of exactly three arrivals in the next 5 minutes. Are they identical? Explain why?

e) What is the probability of exactly five customers will arrive between 6 and 7 hours from now?

Two shops A and B attract two types of customers: price-sensitive customers, who shop at the lower-priced shop, and time-sensitive customers, who shop at whichever shop is on their side of the street. A customer of either type purchases on average 10 goods. Assume there are 800 price-sensitive customers and 500 time-sensitive customers buying goods on any given day. The wholesale price the shop pay per good is $3. For simplicity, assume that they can charge $3.50, $4.00, or $4.50 per good.

a. Complete the matrix depicting each station’s profit given the possible strategy profiles.

b. Are there any dominant strategies or dominated strategies? Explain briefly.

c. Are there any pure-strategy Nash equilibrium? If so, give the strategy profiles and corresponding outcomes.