Do the following assignment using Microsoft Excel (handwritten projects will not be accepted)
This is an individual assignment, make sure you have included your name, Id and Section no on the printout. Submit in class on Tuesday Feb 23rd, 2016
Any signs of copy/paste and you will get a zero in the assignment, submit your own work only.
The adjusted account balances of the Fitness Center at July 31 are as follows:
Accounts Account Balances Accounts Account Balances
Cash $11,000 Service Revenue $100,000
Accounts Receivable 15,000 Interest Revenue 8,000
Supplies 4,000 Depreciation Expense 27,000
Prepaid Insurance 8,000 Insurance Expense 6,000
Buildings 300,000 Salaries and Wages Expense 35,000
Accumulated Depreciation- Supplies Expense 9,000
Buildings 120,000 Utilities Expense 12,000
Accounts Payable 19,000
Owner's Capital 195,000
Owner's Drawings 15,000
Instructions
A) Prepare the end of the period closing entries for the Fitness Center.
B) Prepare a post closing trial balance
C) Prepare an owner's equity statement, multi step income statement and a classified balance for the company