Accounting Cycle Problem For A Sole Proprietorship Using Excel
Skill Success
Summary
- Certificate of completion - Free
- Tutor is available to students
Overview
This course includes lifetime access so you can complete it at your own speed.
This course is designed for those interested to learn the basics of accounting cycle problem using preformatted Excel worksheets to enter normal financial transaction for a month of operations, recording debits and credits, or journalizing the financial transactions in the general journal, so that we can jump forward or go back and rework any component of the comprehensive problem.
Benefits of taking this course include:
- Unlimited and lifetime access to the course
- Learn the course at your own pace
- Course can be accessed on any platform
- 24/7 Customer support
Course media
Description
This course covers full accounting cycle comprehensive proprietorship problem where we will enter journal entries into the general journal related to setting up a proprietorship and to the first month of operations.
- Enter accounting transaction
- Enter journal entries into a general journal
- Post journal entries to the general ledger
- Create a trial balance from a general ledger
- Enter adjusting entries
- Create an adjusted trial balance
- Create financial statements from the trial balance
- Build a balance sheet
- Build an income statement
- Build a statement of owners' equity
- Navigate an Excel worksheet
- Enter standard Excel formulas
We will enter the normal financial transaction for a month of operations, recording debits and credits, or journalizing the financial transactions in the general journal. We will perform these tasks using preformatted Excel worksheets. Even though this is a comprehensive problem, each new step will have a new Excel worksheet so that we can jump forward or go back and rework any component of the comprehensive problem.
Each new step in the process will include an Excel worksheet with at least two tabs, one demonstrating the completed task, and one with a preformatted worksheets to complete the task in a step by step format with instructional videos. Once we have journalized the journal entries, we will post them to the general ledger and then create a trial balance from the general ledger.
After completing the accounting transactions for the month, we will enter adjusting journal entries for the month, using an adjusting entry worksheet, the result being an adjusted trial balance. We will use the adjusted trial balance to create the financial statements, to create the balance sheet, income statement, and statement of owners' equity.
Finally, we will enter the closing entries to prepare for the next accounting period, the next month of operations.
The Accounting Cycle Problem For A Sole Proprietorship Using Excel will cover the following topics:
Section 1 - Introduction
- Excel Sole Proprietorship Accounting Cycle Problem Overview
- Downloadable Materials – Accounting Cycle Problem For A Sole Proprietorship Using Excel
Section 2 - Financial Transactions
- Introduction
- Stock Purchase
- Equipment Purchase
- Supplies Purchase
- Revenue On Account
- Customer Payment Unearned Revenue
- Purchase Insurance
- Unhide and Hide Pains
- Pay Vendor One Account
- Receive Cash On Account
- Revenue For Cash
- Pay Expenses
- Draws
Section 3 - Adjusting Entries
- Insurance
- Supplies
- Depreciation
- Wages
Section 4 - Financial Statements
- Assets
- Liability And Equity
- Equity
- Net Income
- Statement Of Equity
Section 5 - Closing Entries
- Closing Entry One
- Closing Entry Two
- Closing Entry Three
- Closing Entry Four
Who is this course for?
This course is designed for those interested to learn the basics of accounting cycle problem using preformatted Excel worksheets to enter normal financial transaction for a month of operations, recording debits and credits, or journalizing the financial transactions in the general journal, so that we can jump forward or go back and rework any component of the comprehensive problem.
Requirements
No prior knowledge is required to take this course.
Career path
None
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Certificates
Certificate of completion
Digital certificate - Included
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This course is advertised on reed.co.uk by the Course Provider, whose terms and conditions apply. Purchases are made directly from the Course Provider, and as such, content and materials are supplied by the Course Provider directly. Reed is acting as agent and not reseller in relation to this course. Reed's only responsibility is to facilitate your payment for the course. It is your responsibility to review and agree to the Course Provider's terms and conditions and satisfy yourself as to the suitability of the course you intend to purchase. Reed will not have any responsibility for the content of the course and/or associated materials.
