About This Course

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.

30 Day Money Back Guarantee. If you are unsatisfied for any reason, simply contact us and we’ll give you a full refund. No questions asked.

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

Course Curriculum

Section 1 - Introduction
Overview 00:00:00
Downloadable Materials 00:00:00
Section 2 - Financial Transactions
10 Partnership Comp Prob Introduction 00:00:00
20 Partnership Comp Prob Stock Purchase 00:00:00
30 Partnership Comp Prob Equipment Purchase 00:00:00
40 Partnership Comp Prob Supplies Purchase 00:00:00
50 Partnership Comp Prob Revenue On Account 00:00:00
60 Partnership Comp Prob Customer Payment Unearned Revenue 00:00:00
70 Partnership Comp Prob Purchase Insurance 00:00:00
80 Partnership Comp Prob Unhide And Hide pains 00:00:00
90 Partnership Comp Prob Pay Vendor One Account 00:00:00
100 Partnership Comp Prob Receive Cash On Account 00:00:00
110 Partnership Comp Prob Revenue For Cash 00:00:00
120 Partnership Comp Prob Pay Expenses 00:00:00
130 Partnership Comp Prob Draws 00:00:00
Section 3 - Adjusting Entries
140 Partnership Comp Prob Adj Entry Insurance 00:00:00
150 Partnership Comp Prob Adj Entry Supplies 00:00:00
160 Partnership Comp Prob Adj Entry Depreciation 00:00:00
170 Partnership Comp Prob Adj Entry Wages 00:00:00
180 Partnership Comp Prob Adj Entry Unearned Revenue 00:00:00
Section 4 - Financial Statements
190 Partnership Comp Prob Financial Statements Assets 00:00:00
200 Partnership Comp Prob Liability And Equity 00:00:00
210 Partnership Comp Prob Net Income 00:00:00
220 Partnership Comp Prob Statement Of Equity 00:00:00
Section 5 - Closing Entries
230 Partnership Comp Closing Entry One 00:00:00
240 Partnership Comp Closing Entry Two 00:00:00
250 Partnership Comp Closing Entry Three 00:00:00
260 Partnership Comp Closing Entry Four 00:00:00
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