At the end of each module, you will apply the module?s concepts by completing comprehensive assignments from the textbook.
Complete problems P3-43 (p. 185) and P4-38 (p. 252) in your text book.
Present your analysis of the assigned problems in Excel format. Enter non-numerical responses in the same worksheet using textboxes.
By Wednesday, October 26, 2016 deliver your assignment to the M2: Assignment 3 Dropbox.
Create the file with the following name: LastnameFirstInitial_M2A3.Excel.xls.
Assignment 3 Grading Criteria
Open addition T accounts
Journalize transactions December 21-30
Post to T-accounts
Prepare trial balance
Adjusting entries made in adjustments column
Journalize and post adjusting entries and denoted adjusting amounts
Prepare income statement and retained earnings
Complete accounting worksheet at 12/31
Journalize and post closing entries at 12/31
Prepare classified balance sheet
Accuracy and timeliness
P4-38 This problem continues the Haupt Consulting situation from Problem 3-43 of
Chapter 3. Start from the posted T-accounts and the adjusted trial balance that
Haupt Consulting prepared for the company at December 31:
Adjusted Trial Balance
December 31, 2010
Account Title Debit Credit
Cash $ 7,700
Accounts receivable 1,500
Accumulated depreciation-equipment $ 33
Accumulated depreciation-furniture 60
Accounts payable 3,600
Salary payable 700
Unearned service revenue 600
Carl Haupt, Capital 10,000
Carl Haupt, Withdrawals 1,600
Service revenue 3,200
Rent expense 500
Utilities expense 200
Salary expense 700
Depreciation expense-equipment 33
Depreciation expense-furniture 60
Supplies expense 200
Total $18,193 $18,193
1. Complete the accounting work sheet at December 31.
2. Journalize and post the closing entries at December 31. Denote each closing
amount as C10 and an account balance as Ba].
3. Prepare a classified balance sheet at December 31. V