Overview
Step 1
Download the Guided Practice for Financial Statement template Download Guided Practice for Financial Statement template. Read the template carefully.
Step 2
Using the data from the adjusted trial balance provided in the template workbook, populate the blue cells to create the following financial statements:
Income Statement
- Calculate the total expenses.
- Compute net income.
Statement of Owner’s Equity
- Please key in the net income amount that goes into cell J17.
- Calculate the J. Smith Capital balance as of June 30, 2017, in cell J9.
Balance Sheet
- Enter the equity balance from J9.
- Calculate the balance for the total liabilities and equity
___________________________________________________________________________________________________4.5 Course Project Submission
This week, you will finish working on the course project. For your project, you are required to prepare and submit the following financial statements for the Tybalt Company:
- The income statement
- The statement of owner’s equity
- The balance sheet (using the given Adjusted Trial Balance)Use the Microsoft Excel Project templat Download Microsoft Excel Project template, provided for you.
- Be sure to review the Project Overview page for complete project requirements.
- Please note that your weekly concept check assignments are designed to help you successfully complete your project.Save your file and submit it using the upload instructions below.