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KELLEY ENTERPRISES 2015 Trial Balance Account Title Cash and cash equivalents Short-term investments Accounts receivable Merchandise inventories
Assignment instructions are as follows: 1. Use the information in the provided trial balance to create the following financial statements: a. 2016 Income Statement b. 2016 Balance Sheet c. 2016 Cash Flow Statement 2. Create ONE Excel Workbook with the following tabs: a. Tab 1: Trial Balance for 2015 and 2016 provided b. Tab 2: Closing Entries for 2015 Income Statement c. Tab 3: 2016 Income Statement d. Tab 4: Closing entries for 2016 e. Tab 5: 2016 Balance Sheet post-closing entries (Use the 2015 Retained Earnings balance as your beginning 2016 balance) f. Tab 6: Cash Flow Statement 3. Formulas: a. Use Excel to setup the financial statements by linking the values from the trial balance. b. Use Excel formulas to calculate all totals and sub-totals. 4. Save your Excel workbook as last name _ Project1. (For example: Koss_Project1.xls). 5. Upload the completed assignment to BlackBoard using the link provided. GRADING RUBRIC: FORMATTING/ACCURACY/COMPLETENESS (15%) Excel spreadsheets should be formatted and easy to read/follow. This includes: Underlining totals and subtotals for financial statements. (Total Assets, Total Liabilities, Total Equity, Net Income, etc.) Consistency in formatting for dollar and percent cells. (i.e. if decimals are used, they should be consistently. Are dollar signs used consistently?) ACCURACY/COMPLETENESS (15%) All required financial statements were included and were accurately pulled from the Trial Balance. CLOSING JOURNAL ENTRIES (10%) All Income Statement accounts are properly closed. Retained Earnings balance is properly calculated. INCOME STATEMENT (20%) All sub-totals and totals are accurately calculated (using Excel formulas). Ensure that $ signs, and statement headings are correct. BALANCE SHEET (20%) All sub-totals and totals are accurately calculated (using Excel formulas). Ensure that $ signs, and statement headings are correct. CASH FLOW STATEMENT (20%) All sub-totals and totals are accurately calculated (using Excel formulas). Ensure that $ signs, and statement