Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.

QUESTION

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 

Show more
LEARN MORE EFFECTIVELY AND GET BETTER GRADES!
Ask a Question