The assignment encompasses two files:Project DirectionsandTransactions (thisWorddocument) andForms (a separateExcelworkbook).Your solution shouldbe workedin Exceland thecompletedExcelworkbook submittedfor grading.
You shoulduse Excelformula where appropriate andcellreferences to carryforwardvalues andnumbersbetween worksheets within the workbook.Simply typing values in Excel willresultin a reducedscore,evenif thecorrectsolutionisprovided. Youshould useformulawherever possible.

1. Analyze thenarrative to prepare andrecord the transactionsfor December to the GeneralJournal.

2. Post the journal entries to ledger accounts using T-accounts (Don't forget the opening balances from the information given on the post-closing trial balance on Nov. 30th.)

3. Complete the trialbalance on theworksheet.

4. Analyze thenarrative to prepareAdjusting Entries and record themto the T-accountsandtheworksheet.

5. Prepare the Adjusted TrialBalance on theworksheet.

6. Carry forwardthe appropriate balances to the IncomeStatement andBalance Sheet columnsonthe worksheet.

7. Prepare IncomeStatementandtheRetained Earnings Statement for the month endedDecember 31,2015and Balance Sheet asofDecember 31,2015in goodforms.Use the multi-step format for the Income Statement.

8. Close the income statement accounts, posting any net income or loss to retained earnings. Post the closing entry to the general journal and the T-accounts.