Need accounting homework help | ACCT350
Prepare financial statements using the attached excel file. All data is in the excel file.
Computer Depot is a major computer store chain with locations across North America, Europe, and Africa. The company is preparing to report on business transactions that occurred during January.
Download the Excel spreadsheet for Computer Depot in the module folder. The spreadsheet includes the following tabs:
- Transactions – Details the transactions that occurred in the month of January
- Journal – General journal for the company
- Ledger – General ledger for relevant accounts
- Trial Balance – Template for unadjusted and adjusted trial balances
- IS – Income Statement template
- SE – Statement of Stockholders’ Equity template
- BS – Balance Sheet template
- CF – Statement of Cash Flows template.
Required:
Part A
- Prepare journal entries for all the transactions occurring in January
- Post entries to the general ledger
- Prepare the unadjusted trial balance as of January 31st
- Prepare adjusting entries at January 31st
- Post adjusting entries to the general ledger
- Prepare the adjusted trial balance as January 31st
- Prepare and post closing entries and prepare trial balance at February 1st
- Prepare the four primary financial statements on January 31st
- Include a ratio analysis of your company and include the industry averages. Calculate at least one ratio from each category listed: Liquidity, Solvency, and Profitability, and provide an explanation on what it means to the company.
Part B
In your current position as financial accounting manager, it is your turn to present the financial statements at the monthly leadership meeting. Prepare a PowerPoint presentation (at least four slides but) analyzing the company’s financial performance for the month of January.
