Edgar Co Excel Project Part 2 Assignment

Edgar Co Excel Project Part 2 Assignment - Excel Project 1,...

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Excel Project 1, Using the Horizonatal Model Accrual Accounting: Edgar Company Part 1 Instructions: Transactions for 2011: Edgar Company, Inc was formed on January 1, 2011 Fiscal year end is December 31. Events affecting the 2011 period 1. Acquired cash of $150,000 from the issue of common stock. 2. Borrowed $130,000 cash from the bank on May 1, 2011. 3. Incurred $106,000 of operating expenses on account during the year. 4. Paid $49,500 cash for other operating expenses 5. Recognized revenue on account of $230,400 6. Paid owners $7,500 of dividends 7. Collected $205,200 cash on the accounts receivable. 8. Paid $185,000 with cash to purchase a land and building. The land was valued at $50,000 and the building wa 9. Paid $94,500 on the accounts payable during the year. Information for adjusting entries 10. Incurred accrued salaries of $17,400 on December 31, 2011. 11. Accrued interest expense for loan in # 2. Terms: interest rate 6%, due and payable in one year. On this Excel workbook there are 4 tabs. The instruction tab you are currently reading. The second tab is the 2011 Horizontal Model Tab, the third tab is the 2011 Income Statement and Statement of Stockholders Equity and the final tab is the Balance Sheet and Statement of Cash Flows. Please post the transactions to the Horizontal Model and Complete all four financial statements for the year ended December 31, 2011.
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as valued for $135,000
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Student Name: WORKSHEETS FOR EXCEL Project EDGAR COMPANY, INC Accounting Equation for 2011 Assets = Liabilities + Stockholder's Equity Income Statement Event Cash Accts. Rec. Land Buildings = Accts. Pay. Note Payable + Revenue Expense Net Income 1. F
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Edgar Co Excel Project Part 2 Assignment - Excel Project 1,...

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