Project 3 – 40 points
ACTG 3000
This third project requires you to invent a merchandising business (your
company sells some kind of goods). You are required to prepare the financial
statements for its first year of operations:
1. Fill in the dollar amounts for your company’s Adjusted Trial Balance dated
12/31/2023, including the company name in the heading. I’ve left some
blank lines in case you want to include more assets, liabilities, or
expenses. Remember, the Debit and Credit column Totals must
match!
2. From the Adjusted Trial Balance you made, prepare your company’s
multi-step income statement for the year ended 12/31/23.
3. From the Adjusted Trial Balance you made, prepare the retained
earnings statement for the year ended 12/31/23.
4. From the Adjusted Trial Balance you made, prepare the classified
balance sheet dated 12/31/23.
5. Give me a simple sentence about what your business sells. It can be
stated before or after the financial statements.
Hints and reminders:
Make sure the statements ‘flow’ with each other.
Be sure to begin the income statement with Net Sales as the name for the Sales
Revenue account.
Be sure to include a line for Operating Income.
Be sure to include the Other Revenue/Expense section on the income
statement.
Be sure to label and total the current asset and current liability sections of your
classified balance sheet.
Be sure to present Depreciable Asset along with its Accumulated
Depreciation account on the balance sheet correctly.
You will be ‘making up’ amounts. Your business can be as successful as you
like. Just make sure your balance sheet balances!
Hand in:
1. The Adjusted Trial Balance
2. The three financial statements you prepared
3. The sentence describing what your company sells
Adjusted Trial Balance
12/31/2023
Debit
Cash
Accounts Receivable
Inventory
Supplies
Equipment
Accumulated Depreciation – Equipment
Accounts Payable
Unearned Revenue
Longterm Notes Payable
Common Stock
Retained Earnings
Dividends
Sales Revenue
Cost of goods sold
Wages & Salaries expense
Rent expense
Supplies expense
Depreciation expense – Equipment
Interest expense
Totals
Credit
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Achiever Papers is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Dissertation Writing Service Works
First, you will need to complete an order form. It's not difficult but, if anything is unclear, you may always chat with us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download