22 Sep ACCOUNTING 211
| Elf Village Productions | 50 Sheet Legal Pad |
| Building Blocks of Accounting .. A Financial Perspective | |
| Introduction | |
| hanlin, when you are ready to have your work graded you will upload your file | |
| HW7882.xls or HW7882.xlsx, to the same screen that the project was downloaded from: | |
| www.cybertext.com, The Book List, Building Blocks of Accounting .. A Financial Perspective | |
| Enter password, Upload Your Excel File. | |
| Keep two copies of your spreadsheet in two separate places in case one does not work | |
| You may find it easier to work on this project if you print a hard copy of all the pages | |
| NOTE: | |
| If there are any questions about the project e-mail friedman@cybertext.com or call 305.284.6296 | |
| Your grade will be based upon answers entered into the shaded boxes | |
| F1311 | 190827 |
FAQ
| Elf Village Productions | 50 Sheet Legal Pad |
| Building Blocks of Accounting .. A Financial Perspective | |
| FAQ | Page 1 |
| FAQ 01 | My file used to upload, why is it not uploading? |
| Answer: | Sometimes we unknowingly add items to a workbook that inhibits the upload process. The conversion to a Excel Binary |
| Workbook (*.xlsb) version generally fixes the problem. If the problem continues simple send your BINARY file | |
| as an attachment with your username and password…friedman@cybertext.com | |
| Windows Operating System | |
| Select | File |
| Select | Save As |
| Select | Save As Type: |
| Select | Excel Binary Workbook (*.xlsb) |
| Select | Save |
| Upload the binary file at cybertext.com | |
| Apple Operating System | |
| Select | File |
| Select | Save As |
| Select | Format: |
| Select | Excel Binary Workbook (*.xlsb) |
| Select | Save |
| Upload the binary file at cybertext.com | |
| Elf Village Productions | 50 Sheet Legal Pad |
| Building Blocks of Accounting .. A Financial Perspective | |
| FAQ | Page 2 |
| FAQ 02 | When I try to enter information in the General Journal why does an error appears indicating that the cell protected? |
| Answer: | The computer program is designed to save you time. Instead of requiring you to enter the description four |
| times the program automatically copies the description when you enter a new account number. This process | |
| requires that the data entry is limited to those cells which contain unique information. The cells that you can | |
| enter data into are the yellow filled cells. | |
| FAQ 03 | In the feedback section, what does it mean when I have points under reverse? |
| Answer: | If you pay a telephone expense of $100.00 |
| Telephone Expense | 100 |
| Cash | 100 |
| If you debit cash and credit telephone expense you have reversed the whole entry. | |
| Cash | 100 |
| Telephone Expense | 100 |
| If you debit cash and credit anything else you have reversed part of the entry. | |
| Cash | 100 |
| Rent Expense | 100 |
| Elf Village Productions | 50 Sheet Legal Pad |
| Building Blocks of Accounting .. A Financial Perspective | |
| FAQ | Page 3 |
| FAQ 04 | How does my instructor get my grade? |
| Answer: | Every time you upload your grade is recorded in a table. Your instructor can look at the table whenever they |
| want to, although only the last grade counts. Keep a hard copy of your last upload for documentation. | |
| FAQ 05 | I have entered all the transactions and have completed the worksheet however I get following |
| message on the financial statements: “You must finish the worksheet before you can complete the ….” | |
| Answer: | The worksheet demonstrates that the accounting system is working. If all of your journal entries are |
| in balance then the Unadjusted Trial Balance and the Adjusting Entry columns will balance. The | |
| Adjusted Trial Balance columns net the Unadjusted Trial Balance and the Adjusting Entry columns. | |
| There are four steps to completing the worksheet: | |
| 1. Copy the account balances from the Adjusted Trial Balance into the either the Income Statement or the | |
| Balance Sheet columns, (debits remain debits and credits remain credits). | |
| 2. Calculate the Net Income or Net Loss by finding the difference between the revenues and expenses. | |
| 3. Calculate the Net Income or Net Loss by finding the difference between the total of the debit balances and | |
| the total of the credit balances of the accounts in the Balance Sheet columns of the worksheet. | |
| 4. Compare the two Net Incomes. If they are the same the financial statements will be displayed, otherwise | |
| there is an error in the completion of the worksheet. |
Excel Binary Workbook (.xlsb)
Welcome
| Building Blocks of Accounting — A Financial Perspective | |||||||
| The instructions start on row 28 of this page. | |||||||
| Version | FIRST | LAST | SS | File | DATE | ||
| 1311 | hanlin | wang | 7882 | HW7882 | 9/4/19 | 40909 | 2,803 |
| Elf Village Productions | 50 Sheet Legal Pad | ||||||
| Building Blocks of Accounting .. A Financial Perspective | |||||||
| Welcome | Page 1 | ||||||
| Welcome to the world’s first ePractice case, an individualized, internet generated and | |||||||
| and graded case study that focuses on the analytically portion of the accounting cycle. | |||||||
| Step 1 | The Chart of Accounts includes all of the accounts that you can use to solve your case. | ||||||
| You may want to print the chart of accounts and use it as an easy reference guide. | |||||||
| Step 2 | Journalizing the Transactions | ||||||
| Using your unique transactions record the corresponding general journal entry, rounding to | |||||||
| two decimal places, =Round(value,2). | |||||||
| Step 3 | Using the Worksheet for the Period Ending December 31st as a reference, prepare the | ||||||
| Income Statement, Statement of Changes in retained Earnings and the Balance Sheet. | |||||||
| Step 4 | Record the closing entries to Retained Earnings in the general journal. | ||||||
| Step 5 | Upload the File. | ||||||
| Whenever you want to have cybertext.com grade your work submit it to them on the bottom | |||||||
| of the screen that you downloaded the file. If you have a problem uploading see FAQ 01. | |||||||
| Step 6 | You will be graded on the Journal Entries and the four financial statements and the ratio analysis. The | ||||||
| case will be computer graded, therefore make sure all numbers are in the appropriate cells. The | |||||||
| computer will evaluate your transactions when grading your financial statements. | |||||||
| Step 7 | Note: Save and make backup copies regular |
Step IV – Prepare the Financial Statements. After you have entered all of the transactions and prepared the Worksheet, you are to prepare the Income Statement, Shareholder’s Equity Statement and Balance Sheet using the forms provided.
Step III – Worksheet Although not graded, you need to complete the Worksheet. If each of your journal entries are in balance then your Unadjusted Trial Balance and the Adjusting Entry columns will be in balance. Your Adjusted Trial Balance will balance when you place each of the account balances into the correct debit or credit position in the Adjusted Trial Balance section of the Worksheet. .
Grading: You will be graded on the Journal Entries and the three financial statement. The case will be computer graded, therefore make sure all numbers are in the appropriate cells. The computer will evaluate your transactions when grading your financial statements.
Step VI – Upload the File. Whenever you want to have cybertext.com grade your work submit it to them on the bottom of the screen that you downloaded the file.
Step V – Prepare the Closing Entries. Based upon the information from your Worksheet or from your Financial Statements, prepare the closing entries.
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