Accounting Cycle Problem For A Sole Proprietorship Using Excel
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.
About This CourseBeginner
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.
Our Promise to You
By the end of this course, you will have learned the accounting cycle for a sole proprietorship with the use of Excel.
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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
Revenue On Account
Customer Payment Unearned Revenue
Unhide and Hide Pains
Pay Vendor One Account
Receive Cash On Account
Revenue For Cash
Section 3 - Adjusting Entries
Section 4 - Financial Statements
Liability And Equity
Statement Of Equity
Section 5 - Closing Entries
Closing Entry One
Closing Entry Two
Closing Entry Three
Closing Entry Four
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