Description Complete requirements 11 through 12 of the Jane's Skateboards for the third milestone o ...
Description Complete requirements 11 through 12 of the Jane's Skateboards for the third milestone of the course project.You will use the excel sheet that i uploaded and use the two videos that will help you fill out section 11 and 12. Ratio is for section 11 and breaking even is for section 12. 1 attachments Slide 1 of 1 attachment_1 attachment_1 UNFORMATTED ATTACHMENT PREVIEW Course Project Overview Scenario Requirements ACCT 105: Course Project Requirement 1 2 3 4 5 6 7 8 9 10 11 12 Guidelines se Project Overview The Course Project consists of 12 Requirements for you to complete. Part 1 of the Course Project is due at the end of Week 2 and Part 2 at the end of Week 4 and Part 3 is due at the end of week 7. See the Syllabus section ”Due Dates for Assignments & Exams” for due date information. All of the information you need to complete the Course Project is located in this Workbook. • There are ten (12) assignments in the workbook you will need to complete. • A list of July transactions • A Chart of Accounts - Tip: Make reference to this worksheet often to determine if a transaction should be recorded as a "Debit" or "Credit" • A Grading Rubric to help explain what is expected. You’ve just secured a new client in your accounting practice, Jane's Skateboards Inc., a brand new small business specializing in selling skate boards. The owner, Jane Jones, is good at selling skateboards, but she needs your help with accounting. You have decided to use the perpetual inventory method to account for inventory and Cost of Goods Sold. ACCT 105: Course Project Requirement Description Prepare the Journal Entries in the General Journal Post Journal Entries to the General Ledger Prepare a Trial Balance Prepare the Adjusting Entries Post Adjusting Entries to the General Ledger *** You have the Option to do this by completing the General Ledger worksheet or the Use T-Accounts Worksheet. Prepare an Adjusted Trial Balance Prepare the Financial Statements Prepare the Closing Entries Post Closing Entries to the General Ledger Prepare the Post Closing Trial Balance Prepare ratio analysis Prepare Break-Even Analysis Use the template, guidance in your textbook, and examples in the weekly lectures to complete this project. Should you have any questions contact your professor. Milestone 1 is due in Week 2 - This includes project requirements 1-3. Milestone 2 is due in Week 4 - This includes project requirements 4-10. Milestone 3 is due in Week 7- This includes project requirements 11-12. Worksheet Name 1 - Journal Entries 2 - General Ledger 3 - Trial Balance 4 &5 - Adjusting Entries 4 &5 -Adjusting Entries ( Use worksheet #2) 6- Adjusted TB 7 - Financial Statements 8&9 - Closing Entries ( use worksheet #2) 8&9- General Ledger 10 - Post Closing Trial Balance 11 -Ratio Analysis 12 - Break Even ***Make reference this worksheet often to determine if a transaction should b "Credit" Chart of Accounts Account Name Cash Store Supplies Prepaid Insurance Merchandise Inventory Store Fixtures Accumulated Depreciation -Fixtures Accounts Payable Income Tax Payable Common Stock Retained Earnings Dividends Sales Revenue Cost of Good Sold Store Rent Expense Telephone Expense Depreciation Expense Electric Expense Insurance Expense Supplies Expense Income Tax Expense Number 111 117 119 130 144 145 212 213 311 312 313 411 505 511 517 520 522 525 530 535 ne if a transaction should be recorded as a "Debit" or t of Accounts Account Type Asset Asset Asset Asset Asset Contra Asset Liability Liability Owners Equity Owners Equity Contra Owners Equity Revenue Expense Expense Expense Expense Expense Expense Expense Expense Increase with Decrease with Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Debit Credit Credit Debit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit During its first month of operation (July), Jane's Skateboards completed the following transacti Instructions: Record these transactions in the next worksheet titled "1 - Journal Entries". Note: These figures are different from the demo videos you watched under the Content Tab in the Onl Journal Entry # Date JE01 July 1 JE02 July 2 JE03 July 3 JE04 July 5 JE05 July 6 JE06 July 8 JE07 July 10 JE08 July 11 JE09 July 18 JE10 July 20 JE11 July 25 JE12 July 26 JE13 July 30 month of operation (July), Jane's Skateboards completed the following transactions: ns: Record these transactions in the next worksheet titled "1 - Journal Entries". different from the demo videos you watched under the Content Tab in the Online Classroom Transactions Begin business by making a $100,000 deposit into the company's bank account in exchange for 10,000 shares of common stock - Par value $10 Paid $16,000 for shelf fixtures for the Jane's Skateboard storefront Paid $6,000 for the premium on a 1-year insurance policy Paid $3,000 for the Jane's Skateboards storefront rent Purchased on Credit - 1000 skateboards costing $25 each from Acme MFG Purchased on Credit - Store supplies costing $600 from Mike's Supply Paid $200 for Jane's Skateboards July telephone bill Sold 24 skateboards for $50 each to a customer who paid cash Paid $300 for 1/2 of the Store Supplies purchased on July 8 from Mike's Supply Sold 140 skateboards for $50 each to a customer who paid cash Sold 100 skateboards for $50 each to a customer who paid cash Paid $500 for Jane's Skateboards July electric bill Paid $1,500 to Jane's Skateboards shareholder(s) for dividend declared on July 30 REQUIREMENT #1: Prepare journal entries to record the July transactions in the General Journal below. Remember that Debits must equal Credits—All of your Journal Entries should balance. General Journal Date Account Name 7/1/2022 Cash Common Stock 7/1/2022 Store Fixtures Cash 7/1/2022 Prepaid Insurance Cash 7/1/2022 Store Rent Expense Cash 7/6/2022 Merchandise Inventory Cash 7/8/2022 Store Supplies Accounts Payable 7/10/2022 Telephone Expense Cash 7/11/2022 Cash Sales Revenue 7/11/2022 Cost of Good Sold Merchandise Inventory 7/18/2022 Accounts Payable Cash 7/20/2022 Cash Sales Revenue 7/20/2022 Cost of Good Sold Merchandise Inventory 7/31/2022 Cash Sales Revenue 31/07.2022 Cost of Good Sold Merchandise Inventory 7/31/2022 Electric Expense Cash 7/31/2022 Dividends Account Number 111 311 144 111 119 111 511 111 130 111 117 212 511 111 111 411 505 130 212 111 111 411 505 130 111 411 505 130 517 111 313 Debit 100,000 Credit 100,000 16,000 16,000 6,000 6,000 3,000 3,000 25,000 25,000 600 600 200 200 1,200 1,200 300 300 300 300 7,000 7,000 3,500 3,500 5,000 5,000 2,500 2,500 500 500 1,500 Cash 1,500 111 Total: 172,600 172,600 Post Ref. JE01 JE01 JE02 JE02 JE03 JE03 JE04 JE04 JE05 JE05 JE06 JE06 JE07 JE07 JE08 JE08 JE08 JE09 JE09 JE10 JE10 JE10 JE10 JE11 JE11 JE11 JE11 JE12 JE12 JE13 JE13 n REQUIREMENT #2: Post the July journal entries to the following TAccounts and compute ending balances. General Ledger Account: Cash - 111 Balance Post Ref. 7/1/2022 JE#1 7/1/2022 7/1/2022 7/6/2022 7/10/2022 7/11/2022 7/18/2022 7/20/2022 7/31/2022 7/31/2022 Date Debit Credit 100,000 Debit Credit 100,000 16,000 6,000 3,000 25,000 200 600 300 7,000 5,000 500 Store Supplies - 117 Balance Date Post Ref. Debit Credit Debit Credit Prepaid Insurance - 119 Balance Date 7/6/2022 7/11/2022 7/20/2022 7/31/2022 Post Ref. Debit Credit Debit 25,000 Merchandise Inventory - 130 300 3,500 2,500 (3,500) (6,000) Credit Balance Date Post Ref. Debit Credit Debit Credit Store Fixtures - 144 Balance Date Post Ref. Debit Credit Debit Credit Accumulated Depreciation -Fixtures -145 Balance Date Post Ref. Debit Credit Debit Credit Accounts Payable - 212 Balance Date Post Ref. Debit 7/11/2022 7/18/2022 Credit Debit Credit 600 300 600 300 Income Tax Payable - 213 Balance Date Post Ref. Common Stock - 311 Debit Credit Debit Credit Balance Post Ref. 7/1/2022 JE#1 Date Debit Credit Debit 100,000 Credit 100,000 Retained Earnings - 312 Balance Date Post Ref. Debit Credit Debit Credit Dividends - 313 Balance Date Post Ref. Debit Credit Debit Credit Sales Revenue - 411 Balance Date Post Ref. Debit Credit Debit Credit Cost of Good Sold - 505 Balance Date Post Ref. Debit Credit Debit Credit Store Rent Expense - 511 Balance Date Post Ref. 7/1/2022 Debit Credit Debit Credit 3,000 Telephone Expense - 517 Balance Date Post Ref. Debit 7/31/2022 Credit Debit Credit 500 Depreciation Expense - 520 Balance Date Post Ref. Debit Credit Debit Credit Electric Expense - 522 Balance Date Post Ref. Debit Credit Debit Credit Insurance Expense - 525 Balance Date Post Ref. Debit Credit Debit Credit Supplies Expense - 530 Balance Date Post Ref. Debit Credit Debit Credit Income Tax Expense - 535 Balance Date Post Ref. Debit Credit Debit Credit Date Account Number 111 7/1/2022 Account Name Cash 100,000 Totals 100,000 Account Balance 100,000 117 Store Supplies Totals - Account Balance - 119 - - Prepaid Insurance Totals - Account Balance - - 130 Merchandise Inventory Totals - Account Balance - 144 Store Fixtures Totals - Account Balance - 145 Totals Account Balance Totals - Accounts Payable - Account Balance 213 - Accumulated Depreciation - 212 - - Income Tax Payable Totals - - Account Balance 311 Common Stock 7/1/2022 100,000 Totals - Account Balance 312 Totals 100,000 100,000 Retained Earnings - Account Balance 313 Dividends Totals - Account Balance - 411 - Sales Revenue - Totals - Account Balance 505 Cost of Goods Sold Totals - Account Balance - 511 - Account Balance - - Telephone Expense Totals - Account Balance - 520 - Store Rent Expense Totals 517 - Depreciation Expense - Totals - Account Balance - 522 Electric Expense Totals - Account Balance - 525 - Account Balance - - Account Balance - Totals Account Balance - Supplies Expense Totals 535 - Insurance Expense Totals 530 - - Income Tax Expense - - REQUIREMENT #3: Prepare a trial balance for July in the space below. Janes Skateboard Trial Balance For the Month Ended July 31, 20XX Account Number Cash 111 Store Supplies 117 Prepaid Insurance 119 Merchandise Inventory 130 Store Fixtures 144 Accumulated Depreciation -Fixtures 145 Accounts Payable 212 Income Tax Payable 213 Common Stock 311 Retained Earnings 312 Dividends 313 Sales Revenue 411 Cost of Good Sold 505 Store Rent Expense 511 Telephone Expense 517 Depreciation Expense 520 Electric Expense 522 Insurance Expense 525 Supplies Expense 530 Income Tax Expense 535 Total: Account Name Debit 119,100 1,200 6,000 25,000 16,000 6,300 3,000 500 - 177,100 e below. XX Credit 900 100,000 12,200 113,100 Requirement #4: Prepare adjusting entries using the following information in the General Journal below. Show your calculations using Excel formulas! 1) One month's insurance has expired. 2) The remaining inventory of store supplies is $250. 3) The estimated depreciation on store fixtures is $160. 4) The estimated income taxes are $295. Requirement #5: Post the adjusting entries on July 31 below to the General Ledger accounts (2 - General Ledger worksheet). Adjusting entries are referenced in the General Ledger as AE#1, AE#2, etc. Date Account Name 7/31/2023 Insurance Expense Account Number 119 Debit $500 Prepaid Insurance Store Supplies Expense 7/31/2023 Store Supplies $950 117 $160 Depreciation Expense Accumulated Depreciation 7/31/2023 Income Tax Expense Income Tax Payable 213 $295 n in the General eral Ledger nced in the General Credit $500 $950 $160 $295 REQUIREMENT #6: Prepare an Adjusted Trial Balance in the space below. Janes Skateboard Adjusted Trial Balance For the Month Ended July 31, 20XX Account Number Cash 111 Store Supplies 117 Prepaid Insurance 119 Merchandise Inventory 130 Store Fixtures 144 Accumulated Depreciation -Fixtures 145 Accounts Payable 212 Income Tax Payable 213 Common Stock 311 Retained Earnings 312 Dividends 313 Sales Revenue 411 Cost of Good Sold 505 Store Rent Expense 511 Telephone Expense 517 Depreciation Expense 520 Electric Expense 522 Insurance Expense 525 Supplies Expense 530 Income Tax Expense 535 Total: Account Name Debit $77,500 $300 $5,500 $21,700 $16,000 $160 $300 $295 $1,500 $6,300 $3,000 $200 $160 $500 $500 $300 $295 $134,510 pace below. XX Credit $100,000 $13,200 $113,200 Requirement #7: Prepare the financial statements for Jane's Skateboard's as of July 31 in the s You will only be preparing the Income Statement, Statement of Retained Earnings, and the Bala The Statement of Cash Flows is a required Financial Statement, but is not required for this proje Jane's Skateboards Inc. Income Statement For the Month Ending July 31 Revenues: Sales Revenue Total Revenue Expenses: Cost of Goods Sold Store Rent Expense Telephone Expense Insurance Expense Store Supplies Exp. Depreciation Exp. Income Tax Expense Electric Expense Total Expenses Net Income $13,200 $13,200 $6,300 $3,000 $200 $500 $300 $160 $295 $500 $11,255 $1,945 ane's Skateboard's as of July 31 in the space below. ment of Retained Earnings, and the Balance Sheet. tement, but is not required for this project. Jane's Skateboards Inc. Statement of Retained Earnings For the Month Ending July 31 Retained Earnings, July 1 Add: Net Income Subtotal Less : Dividends Retained Earnings, July 31 $1,945 $1,945 $1,945 Jane's Skateboards Inc. Balance Sheet July 31 Assets Assets: Cash Store supplies Prepaid Insurance Merchandise Inventory Store fixtures Less: Accum. Dep - Fixtures. Total Assets Liabilities and Stockholders' Equity Liabilities: Accounts Payable Income Taxes Payable Total Liabilities $77,500 $300 $5,500 $21,700 $16,000 $160 $120,840 $300 $295 $595 Stockholders' Equity: Common Stock Retained Earnings Total Stockholders' Equity $1,945 $1,945 Total Liabilities & Stockholders' Equity $2,540 Requirement #8: Prepare the closing entries at July 31 in the General Journal below. Hint: Use the balances for each account which appear on the Adjusted Trial Balance for your closing entries. Requirement #9: Post the closing entries to the Accounts on the "2 - General Ledger" worksheet and compute ending balances. Closing entries are referenced in the General Ledger as CE#1, CE#2, etc. Date Account Name Account Number Cash 111 Store Supplies 117 Prepaid Insurance 119 Merchandise Inventory 130 Store Fixtures 144 Accumulated Depreciation -Fixtures 145 Accounts Payable 212 Income Tax Payable 213 Common Stock 311 Retained Earnings 312 Dividends 313 Sales Revenue 411 Cost of Good Sold 505 Store Rent Expense 511 Telephone Expense 517 Depreciation Expense 520 Electric Expense 522 Insurance Expense 525 Supplies Expense 530 Income Tax Expense 535 Total: Debit $77,500 $300 $5,500 $21,700 $16,000 $160 $300 $295 $445 $6,300 $3,000 $200 $160 $500 $500 $300 $295 $133,455 al Journal below. Hint: l Balance for your General Ledger" ced in the General Credit $110,000 $10,255 $13,200 $133,455 Requirement #10: Prepare a post-closing trial balance as of July 31 in the space below. Janes Skateboard Post Closing Trial Balance For the Month Ended July 31, 20XX Account Number Cash 111 Store Supplies 117 Prepaid Insurance 119 Merchandise Inventory 130 Store Fixtures 144 Accumulated Depreciation -Fixtures 145 Accounts Payable 212 Income Tax Payable 213 Common Stock 311 Retained Earnings 312 Dividends 313 Sales Revenue 411 Cost of Good Sold 505 Store Rent Expense 511 Telephone Expense 517 Depreciation Expense 520 Electric Expense 522 Insurance Expense 525 Supplies Expense 530 Income Tax Expense 535 Total: Account Name Debit $77,500 $300 $5,500 $21,700 $16,000 $160 $300 $295 $445 $6,300 $3,000 $200 $160 $500 $500 $300 $295 133,455 y 31 in the space below. XX Credit $110,000 $10,255 $13,200 133,455 Instructions: Ensure your Excel solutions below are rounded to nearest hundredth place (i.e. 5 Ratio Analysis Compute the Following: Current Ratio Debt to Total Assets Gross Profit Percentage Net Income by Net Sales Earnings per Common Share (EPS) Payout Ratio on Common Stock utions below are rounded to nearest hundredth place (i.e. 55.476, should round to 55.48) Using Words, Show Formula (i.e. Owner's Equity = Assets - Liabilities) hould round to 55.48) Show Calculations Using an Excel Formula Explain What the Ratio Means, as it relates to Jane's Skateboards Instructions: Complete the income statement below then us it to compute Break-Even analysis. Jane's Skateboards Inc. Income Statement For the Month Ending July 31 Revenues: Sales Revenue Less: Variable Expenses Contribution Margin Less: Fixed Expenses Operating Income Break-Even in Sales Dollars = Break-Even in Units = Course Project Grading Rubric - Students Criteria Excellent Good Step 1 —Journal Entries Journal entries use Journal entries mostly accurate accounts and accurate accounts an amounts; and debits and amounts; and debits a credits are used correctly. credits are used corre Step 1 Grading Scale Step 2 Ledger Posting and Balancing 24-22 21-19 Posting is done in the Posting is done mostly correct accounts and at the correct accounts the correct side (Dr./Cr.) mostly at the correct and balances are correct. side(Dr./Cr.) and bala are mostly correct. Step 2 Grading Scale Step 3 - Unadjusted Trial Balance 16-15 14-13 Accounts are listed Most accounts are list correctly and in the correctly leading to a proper order leading to mostly correct trial an accurate trial balance. balance. 16-15 14-13 The student's submission The student's submissio fully analyzes and records properly analyzes and all transactions, and records the given provides a complete and transactions, and prov accurate trial balance. a trial balance that is accurate based on th entries recorded. Milestone 1 Milestone 1 Milestone 1 Step 3 Grading Scale Milestone 1 CO2 - Given economic transactions and events, analyze and record them leading to the development and analysis of a trial balance and reports important for decision-making. CO 2 Grading Scale Step 4 —Adjusting Journal Entries Milestone 2 4 3 Journal entries use Journal entries mostly accurate accounts and accurate accounts an amounts; and debits and amounts; and debits a credits are used correctly. credits are used corre Step 4 —Adjusting Journal Entries Journal entries use Journal entries mostly accurate accounts and accurate accounts an amounts; and debits and amounts; and debits a credits are used correctly. credits are used corre Step 4 Grading Scale Steps 5 and 6 —Posted and Adjusted Trial Balance. 15-14 Posting is correct leading to an accurate trial balance. Steps 5/6 Grading Scale 15-14 Milestone 2 13-12 Posting is mostly corre leading to a mostly co trial balance. Milestone 2 Step 7.1 - Income Statement Milestone 2 Step 7.1 Grading Scale Step 7.2 -Retained Earnings Statement Milestone 2 Step 7.2 Grading Scale Step 7.3 - Balance Sheet Milestone 2 Step 7.3 Grading Scale Step 8 —Closing Journal Entries 13-12 The income statement is The income statemen prepared completely and prepared accurately, accurately. may have some mino errors. 10-9 8 The retained earnings statement is prepared completely and accurately. 6 The retained earnings statement is prepared accurately, but may some minor errors. 5 The balance sheet is prepared completely and accurately. The balance sheet is prepared accurately mostly, but may have some minor errors. 15-14 13-12 Journal entries use Journal entries mostly accurate accounts and accurate accounts an amounts; and debits and amounts; and debits a credits are used correctly. credits are used corre Milestone 2 Step 8 Grading Scale Steps 9 and 10 —Posted and Post-closing Trial Balance 20-18 Posting is correct leading to an accurate trial balance. 17-16 Posting is mostly corre leading to a mostly co trial balance. Milestone 2 Steps 9-10 Grading Scale Milestone 2 15-14 13-12 CO 3 - Given a trial The student's submission The student's submissio balance sheet and fully and properly analyzes the adjusting economic financial analyzes the adjusting information, resulting information, analyze and information, resulting in an mostly accurate adju record adjusting and accurate adjusted trial trial balance and fina closing journal entries statements. The subm leading to the creation and balance and financial analysis of financial statements. The also contains closing statements using the submission also contains entries that are accur accrual accounting closing entries that are prepared, resulting in method. fully and accurately mostly accurate postprepared, resulting in an closing trial balance. accurate adjusted trial closing journal entries leading to the creation and balance and financial analysis of financial statements. The statements using the submission also contains accrual accounting closing entries that are method. CO 3 Grading Scale fully and accurately prepared, resulting in an accurate post-closing trial balance. 4 trial balance and fina statements. The subm also contains closing entries that are accur prepared, resulting in mostly accurate postclosing trial balance. 3 Good Journal entries mostly use accurate accounts and amounts; and debits and y. credits are used correctly. Fair Poor Unacceptable Journal entries have some errors in use of accounts and amounts; and debits and credits are only somewhat used correctly. Journal entries have some errors in use of accounts and amounts; and debits and credits are not used correctly. The submission does not meet this requirement. 16-15 Listing of accounts is mostly incorrect with most incorrect accounts and incorrect Dr./Cr. Most ledger balances are incorrect. 10-9 Listing of accounts is done poorly or not at all, leading to inaccurate or no trial balance. 14-0 The submission does not meet this requirement, or posting is not done a all. 21-19 18-17 Posting is done mostly in Posting has errors with the correct accounts and incorrect accounts and mostly at the correct incorrect debits/credits t. side(Dr./Cr.) and balances and incorrect balances. are mostly correct. 14-13 Most accounts are listed correctly leading to a mostly correct trial balance. 14-13 The student's submission s properly analyzes and records the given d transactions, and provides a trial balance that is accurate based on the entries recorded. 3 Journal entries mostly use accurate accounts and amounts; and debits and y. credits are used correctly. 12-11 Listing of accounts has several errors leading to incorrect trial balance. 8-0 The submission does not meet this requirement. 12-11 10-9 8-0 The student's submission The student's submission The student's demonstrates analysis and demonstrates limited submission does not recording of transactions, analysis and recording of meet the criteria of although several analysis transactions, and significant the outcome. errors exist, leading to a errors exist, leading to an trial balance that is inaccurate or incomplete somewhat inaccurate. trial balance. 2 1 0 Journal entries have some errors in use of accounts and amounts; and debits and credits are only somewhat used correctly. Journal entries have some errors in use of accounts and amounts; and debits and credits are not used correctly. The submission does not meet this requirement. Journal entries mostly use accurate accounts and amounts; and debits and y. credits are used correctly. Journal entries have some errors in use of accounts and amounts; and debits and credits are only somewhat used correctly. 13-12 11-10 Posting is mostly correct Posting has several errors leading to a mostly correct leading to a trial balance trial balance. with several errors. 13-12 The income statement is d prepared accurately, but may have some minor errors. 8 11-10 The income statement is prepared with several errors. 7 Journal entries have some errors in use of accounts and amounts; and debits and credits are not used correctly. 9-8 7-0 Posting is done poorly or not The submission does at all, leading to inaccurate not meet this or no trial balance. requirement. 9-8 The income statement is prepared with significant errors. 6 The retained earnings The retained earnings The retained earnings statement is prepared statement is prepared with statement is prepared with accurately, but may have several errors. significant errors. some minor errors. 5 4 3 The balance sheet is prepared accurately and mostly, but may have some minor errors. 13-12 Journal entries mostly use accurate accounts and amounts; and debits and y. credits are used correctly. The balance sheet is prepared with several errors. 11-10 Journal entries have some errors in use of accounts and amounts; and debits and credits are only somewhat used correctly. 17-16 15-14 Posting is mostly correct Posting has several errors leading to a mostly correct leading to a trial balance trial balance. with several errors. The submission does not meet this requirement. The balance sheet is prepared with significant errors. 7-0 The submission does not meet this requirement. 5-0 The submission does not meet this requirement. 2-0 The submission does not meet this requirement. 9-8 7-0 Journal entries have some The submission does errors in use of accounts not meet this and amounts; and debits requirement. and credits are not used correctly. 13-12 11-0 Posting is done poorly or not The submission does at all, leading to inaccurate not meet this trial balance, or no trial requirement. balance was prepared. 13-12 11-10 9-8 7-0 The student's submission The student's submission The student's submission The student's analyzes the adjusting demonstrates analysis of demonstrates limited submission does not information, resulting in a the adjusting information analysis of the adjusting meet the criteria of n mostly accurate adjusted and the preparation of an information and the the outcome. trial balance and financial adjusted trial balance and preparation of an adjusted statements. The submission financial statements, trial balance and financial also contains closing although several errors statements, however entries that are accurately exist. The closing entries significant errors exist. The prepared, resulting in a are prepared with several closing entries are prepared mostly accurate posterrors, resulting in the with significant errors, closing trial balance. completion of a postresulting in an inaccurate trial balance and financial adjusted trial balance and preparation of an adjusted statements. The submission financial statements, trial balance and financial also contains closing although several errors statements, however entries that are accurately exist. The closing entries significant errors exist. The prepared, resulting in a are prepared with several closing entries are prepared mostly accurate posterrors, resulting in the with significant errors, closing trial balance. completion of a postresulting in an inaccurate al closing trial balance, that post-closing trial balance. has limited accuracy. 3 2 1 0 Unacceptable e Points Available The submission does not meet this requirement. 14-0 y The submission does not meet this requirement, or posting is not done at all. 24 8-0 e The submission does g not meet this requirement. 16 8-0 The student's submission does not meet the criteria of nt the outcome. 16 e 0 The submission does not meet this requirement. 4 e The submission does not meet this requirement. 7-0 not The submission does ate not meet this requirement. h 7-0 15 15 The submission does not meet this requirement. 5-0 10 The submission does not meet this requirement. 2-0 6 The submission does not meet this requirement. 7-0 The submission does not meet this requirement. 15 11-0 not The submission does ate not meet this requirement. 20 7-0 The student's submission does not meet the criteria of the outcome. 15 e d al ed d al ed 0 4 Purchase answer to see full attachment Explanation & Answer: 1 Excel Sheet User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.
