QuickHelper

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About QuickHelper

Levels Tought:
Elementary,High School,College,University,PHD

Expertise:
Accounting,Applied Sciences See all
Accounting,Applied Sciences,Business & Finance,Chemistry,Engineering,Health & Medical Hide all
Teaching Since: May 2017
Last Sign in: 353 Weeks Ago, 4 Days Ago
Questions Answered: 20103
Tutorials Posted: 20155

Education

  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

Experience

  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Accounting Posted 13 Jul 2017 My Price 10.00

Excel Worksheet- Accounting

The conceptual framework reminds you that revenues are recognized when earned and not necessarily when collected. Also, expenses are recorded when incurred (used), not necessarily when paid. This is known as accrual accounting.

Bill Smith opened Smith Construction on April 1, 2010. Review the transactions and financial position of Smith Construction for April in the attached Excel worksheet.

Requirements:

  1. Enter the transactions for May into the accounting equation, calculating new balance after each entry.
  2. Prepare the Income Statement for the month of May.
  3. Prepare the Statement of Retained Earnings for the Month of May.
  4. Prepare the Balance Sheet as of May 31, 2010.

Save your assignment as a Microsoft Excel document.

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Answers

QuickHelper
(10)
Status NEW Posted 13 Jul 2017 08:07 AM My Price 10.00

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