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This first Application Assignment is to help you review and complete the Worksheet used by Accountants every day
order to complete a period end/closing process. Please see Appendix 3C in the text for information on using a wo
you need to review the purpose and presentation of a completed Worksheet.
The purpose of this assignment is also to make sure you are building/developing good Excel skills, which are critical
in a successful accounting career. Excel is a powerful tool to organize, calculate, verify, and present financial data
PROBLEM INFORMATION
Cooke Company has a fiscal year ending on September 30. Selected data from the September 30 worksheet is prov
The gray shaded columns are already completed. You will complete the unshaded columns. BE SURE to use Exce
(That is, do not hard enter totals or calculated cells - use calculation functions provided for in Excel)
Instructions
(a)
(b1)
(b2)
(b3)
(c)
(d)
(e)
Note that all worksheet templates for each instruction have been provided in this Excel workbook under the appropri
When you complete the assignment, rename your file as "Last name.First name_App1_Ch3" and submit the
Application Assignment #1
This first Application Assignment is to help you review and complete the Worksheet used by Accountants every day in
order to complete a period end/closing process. Please see Appendix 3C in the text for information on using a worksheet if
you need to review the purpose and presentation of a completed Worksheet.
The purpose of this assignment is also to make sure you are building/developing good Excel skills, which are critical
in a successful accounting career. Excel is a powerful tool to organize, calculate, verify, and present financial data.
PROBLEM INFORMATION
Cooke Company has a fiscal year ending on September 30. Selected data from the September 30 worksheet is provided in th
The gray shaded columns are already completed. You will complete the unshaded columns. BE SURE to use Excel formulas
(That is, do not hard enter totals or calculated cells - use calculation functions provided for in Excel)
Instructions
Prepare a completed worksheet. That includes all of the unshaded columns in the worksheet and the totals for each
will be calculating them from the data provided. For any account that has a different balance from the Trial Balance
column, calculate the difference and determine if the effect was a debit or credit. All total debits and credits will be e
Prepare a classified balance sheet. (Hint: $10,000 of the mortgage payable is due for payment in the next fiscal yea
Journalize the adjusting entries using the Worksheet as a basis. Provide descriptions of the entries.
Prepare a post-closing trial balance. Remember, this will only contain Permanent or Real accounts.
Note that all worksheet templates for each instruction have been provided in this Excel workbook under the appropriate tab titl
When you complete the assignment, rename your file as "Last name.First name_App1_Ch3" and submit the file throu
ed in the Worksheet tab.
rmulas where appropriate.
Revenues Debits
Admissions Revenue
Expenses
Totals Expenses
Net Income
Credits
275,000.00
500.00
275,500.00
236,800.00
38,700.00
(b1)
Cooke Company
Statement of Retained Earnings
For the year Ended 9/30/2016
Less: Dividends
38,700.00
42,700.00
15,000.00
27,700.00
(b)
Cooke Company
Balance Sheet
September 30, 2016
Assets
Cash
Supplies
Prepaid Insurance
Land
Equipment 115,000.00
Less Accumalted Equipment Depreciation 40,000.00
Total Assets
75,000.00
208,100.00
72,700.00
150,400.00
223,100.00
(c) and (d)
30
30
30
30
30
30
30
30
**Provide descriptions of each entry
Credit
(e)
Cooke Company
Post-Closing Trial Balance
September 30, 2016
Account Titles Debit
Credit