How to Write an Accounting Ledger Assignment

Assignment Task

Instructions

1. Save this file under a new name. I suggest adding your last name and first initial.

2. To begin the problem, click on the Journal tab. There you'll find a drop down menu for every line of every journal entry.

The Chart of Accounts links to the drop down menus. For each entry, select which acccounts best fit the entry.You will have to manually enter the amounts in the debit half of the entry. For your convenience, Ilinked the credit half of every entry to the debit cell, so the number will automatically appear. For example,when you enter 1,000 for advertising expense in the first entry, it will automatically show up on the credit side.

You will notice if you click on the cell that you can see the links between the credit and the debit. For example,the cash credit of the first journal entry, the cell says "E3"

3. Complete all journal entries and adjusting entries.

4. Every line of the Journal will have to be posted in the Ledger. I recommend using the formula function, which workslike this (if you understand formulas in spread sheets, skip the next paragraph):Cash101Click the two boxes above and you'll notice both are a formula.

All I did was, while in that box, press the "=" key then I clickedon the Chart of Accounts tab, clicked on the box that said "Cash" then hit enter.It now says Cash in that box. I did the same inthe adjacent box. Hit the "=" key, went to the Chart of Accounts, highlighted "101" then hit enter.While in the Ledger, say Cash, press the "=" key in the appropriate column, either Dr. or Cr., then tab overto the Journal, click on the number entered in the Journal then hit enter. The number is now part of Ledger.If you need to change the number in the Journal, it'll update automatically in the Ledger.I formatted the Ledger to include only needed lines. If there is not a line open, you have done the wrong account.

5. Once all the transactions in the Journal are transferred to the Ledger, you are done. The Financial Statements are automaticallygenerated. Please review that the check figures are accurate.

6. Once you have reviewed the financial statements, and they are accruate, complete the closing entries on theFinancial Statement tab. There is no need to post these entries. They just need to be there.

Points Allocated

1. All journal entries completed

2. All adjusting entries completed and accurate

3. All posting to Ledgers are completed and accurate

4. Financial Statements reviewed and accurate

5. Closing entries completed and accurate

This Accounting has been solved by our PHD Experts at My Uni Paper.