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.
Read more.Instructor
Robert (Bob) Steele CPA, CGMA, M.S. Tax, CPI
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Who this course is for:
- Accountants
- Bookkeepers
What you’ll learn:Â
- Enter journal entries into the general journal related to setting up a partnership and to the first month of operations
- Recording debits and credits
- Create a trial balance from the general ledger
- Enter the closing entries to prepare for the next accounting period
Requirements:Â
- No prior knowledge is required to take 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.Â
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
| 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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