Overview
Complete this assignment in word or excel. This needs to be submitted as one file.
Please ensure that all deliverables are included.
Scenario:
You’re Aunt Rita is so proud of your progress in accounting class. She tells all her friends
that you are an accountant. Aunt Rita’s friend Samantha calls to offer you a job as her CFO
with a $200,000 yearly salary. Congratulations! You’ve just been hired as the Chief
Financial Officer (CFO) of a brand-new startup called Viteri, a tech company developing
eco-friendly portable solar charging stations.
Your new boss, the CEO, is preparing to meet with investors and needs your help to
present the company's financial picture. She handed you a list of transactions for the
company's first month of operations. She expects you to journalize the transactions and
prepare:
Tasks:
Use the list of business transactions provided (below) to create proper journal entries
using correct formatting (date, debit/credit, accounts, and amounts).
2. General Ledger or T-Accounts
Post each journal entry to a general ledger or create T-accounts to show how each
transaction affects account balances.
3. Trial Balance
Prepare a trial balance at the end of the month to ensure your debits equal credits.
4. Financial Statements
Using the information from your trial balance, prepare:
(e.g., cash, equipment, accounts receivable)
ETC...)
5. Reflection
Write a short reflection on what you learned from this project. What challenged you the
most? What surprised you? Can you continue to work for this company comfortably?
Highlight every 0 in red.
Transactions for Viteri – April 2026
1. April 1: Owner invests $50,000 in cash to start the business.
2. April 2: Purchased office equipment for $15,000, paying $5,000 in cash and
financing the rest with a note payable.
3. April 5: Paid $1,200 for the first month’s rent.
4. April 6: Bought inventory (solar parts) for $7,000 on account.
5. April 10: Made a sale of $4,000 in solar chargers. The customer paid $2,500 in cash;
the rest is on account.
6. April 12: Paid $500 for advertising.
7. April 14: Paid $2,000 in employee salaries.
8. April 18: Collected $1,000 from customers on account.
9. April 21: Paid $3,500 to suppliers for inventory purchased earlier.
10. April 25: Owner withdrew $2,000 for personal use.
11. April 27: Received a $3,000 advance from a customer for an upcoming project.
12. April 30: Adjusted for depreciation: $500 on office equipment.
Deliverables Checklist (Submit as One Packet):
Category Description of Task Criteria Points
1. Journal
Entries
Create proper journal
entries for the provided
transactions.
- Correct accounts used (10 pts)
- Proper debit/credit structure (5 pts)
- Correct formatting and dates (3 pts)
- Mathematical accuracy (2 pts)
20 pts
2. General
Ledger / T-
Accounts
Post each journal entry
accurately to T-
accounts or a general
ledger.
- All journal entries posted (5 pts)
- Correct account balances
calculated (5 pts)
- Clearly labeled and organized layout
(5 pts)
- Correct running totals (5 pts)
20 pts
3. Trial
Balance
Prepare an accurate
trial balance.
- All accounts included (5 pts)
- Correct balances transferred (5 pts)
- Debits equal credits (5 pts)
- Professional formatting (5 pts)
20 pts
4. Financial
Statements
Prepare complete
financial statements
using the trial balance.
- Income Statement (6 pts) —
correct format and net income
- Balance Sheet (6 pts) — correctly
balanced and properly categorized
- Asset Sheet (4 pts) — detailed
breakdown of asset components
- List of Accounts (4 pts) — correct
classification (assets, liabilities,
revenue, expenses, contra, etc.)
20 pts
5. Reflection Write a brief reflection
on learning outcomes.
- Thoughtful discussion of what was
learned (4 pts)
- Identification of challenges and
surprises (3 pts)
- Reflection on comfort level with the
company/project (3 pts)
10 pts
Presentation
&
Professionali
sm
Overall quality
submissions.
- Neat, organized, labeled work (5
pts)
- Logical flow between sections (2
pts)
- Grammar/spelling and clarity (3 pts)
10