A140/ACG1022 Section 14 Financial Accounting I – Winter 2013 Module 3

assignment_mod.xlsx
 

Review the accounts and their balances for Smith Construction as of May 31 in the 

Excel Template

.

Requirements:

1. Prepare the trial balance as of May 31 listing the accounts in the proper order.
2. Prepare the Income Statement for the period ending May.
3. Prepare the Statement of Retained Earnings for the Month of May.
4. Prepare the Balance Sheet as of May 31.

2

>M

3

Assignment

, 2

10 for

.

, Statement of retained earnings and balance sheet for Smith Construction as of May 31.

7,240

0

0

1

Smith Construction

-10

2

Smith Construction

Income Statement
3

for Smith Construction for the Month of May.

Smith Construction

Statement of Retained Earnings

For the period Ended March 1 through May 31

4

for Smith Construction as of May 31.

Smith Construction

Balance Sheet
31-May

Module 3 Assignment:

The following are the accounts and their balances as of May 3

1

0

Smith Construction

Prepare the trial balance for Smith Construction as of May 31, 2010 listing the accounts in the proper order.

Prepare the

Income Statement

These statements are for the period March, April, and May. Assume retained earnings starts at a 0 blance

Account

Balance

Repair expense

1,000

cash

4

Tools

1,200

Accounts Payable

Supplies

1,500

Common Stock

41,000

Rent Expense

2,000

Equipment

24,000

Dividends

3,900

Accounts receivable

1,080

Salary Expense

10,780

Service Revenue

51,700

Retained Earnings

Prepare the trial balance for Smith Construction as of May 31 listing the accounts in the proper order.

Trial Balance

31-May

ACCOUNT

DEBIT

CREDIT

Prepare the Income Statement for the period ending May 31 for Smith Construction.

For the period Ended March 1 through May 31

Prepare the

Statement of Retained Earnings

Prepare the

Balance Sheet

ASSETS

Liabilities

STOCKHOLDER’S EQUITY