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The ledger of AISExperts Inc. showed the given balances after adjustment, although before closing, on December 31, 2012, the end of the current year:

2007_articulation of statements.jpg

The president of AISExperts Inc., has asked you to make a flexible financial statement package (call the file yourlastnameyourfirstnameFinState12), by using Excel that comprises:

• A data entry sheet (must include the information above)
• A trial balance (link to the data entry sheet),
• A single-step income statement,
• A multi-step income statement,
• A statement of retained earnings, 
• A classified balance sheet, and
• A post-close trial balance (a trial balance with only accounts not ‘closed’)

Each statement should be on one sheet in the file and this file must permit the financial statements to be prepared quickly by entering account balances in the suitable cells on the first sheet of the file (book) – data entry sheet.

Include percentages in the Income Statement (vertical analysis) that is, gross profit percentage, % of selling expenses to sales, and so on (common sizing and vertical analysis are fundamentally the same analysis methods – every number in the multi-step income statement is divided by sales).

Your file should contain documentation with comments (Excel commands: REVIEW, NEW COMMENT). The comments must be comprised where you think explanation is required that is, earnings per share on the bottom of the income statement must probably be describeed or retained earnings (starting and ending balances) might need some additional comments.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M91810
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