Accounting Cycle Problem For Partnerships Using Excel

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This course is designed for those interested to learn the basics of using Excel in the accounting cycle for partnership problem including accounting transactions, general journal entries, trial balance, general ledger, balance sheets, financial and income statements, equity and adjusting entries.

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About This Coursebeginner

This course is where we will enter journal entries into the general journal related to setting up a partnership and to the first month of operations. 

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 partners’ equity. Finally, we will enter the closing entries to prepare for the next accounting period, the next month of operations.

Our Promise to You

By the end of this course, you will have learned accounting cycle entries using Excel.

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Get started today and learn more about the accounting cycle problem for  partnerships with the use of Excel.

Course Curriculum

Course Sections

Overview

Downloadable Materials

10 Partnership Comp Prob Introduction

20 Partnership Comp Prob Stock Purchase

30 Partnership Comp Prob Equipment Purchase

40 Partnership Comp Prob Supplies Purchase

50 Partnership Comp Prob Revenue On Account

60 Partnership Comp Prob Customer Payment Unearned Revenue

70 Partnership Comp Prob Purchase Insurance

80 Partnership Comp Prob Unhide And Hide pains

90 Partnership Comp Prob Pay Vendor One Account

100 Partnership Comp Prob Receive Cash On Account

110 Partnership Comp Prob Revenue For Cash

120 Partnership Comp Prob Pay Expenses

130 Partnership Comp Prob Draws

140 Partnership Comp Prob Adj Entry Insurance

150 Partnership Comp Prob Adj Entry Supplies

160 Partnership Comp Prob Adj Entry Depreciation

170 Partnership Comp Prob Adj Entry Wages

180 Partnership Comp Prob Adj Entry Unearned Revenue

190 Partnership Comp Prob Financial Statements Assets

200 Partnership Comp Prob Liability And Equity

210 Partnership Comp Prob Net Income

220 Partnership Comp Prob Statement Of Equity

230 Partnership Comp Closing Entry One

240 Partnership Comp Closing Entry Two

250 Partnership Comp Closing Entry Three

260 Partnership Comp Closing Entry Four

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