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

assignment_mod.xlsx
 

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

Excel Template

.

Requirements:

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  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

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