80.2K

Verified Solution

Link Copied!

Hi, please post so i can see all the figures please. Thank you :)

KELLEY ENTERPRISES Debit 2019 Trial Balance Account Title Cash and cash equivalents Short-term investments Accounts receivable Merchandise inventories Prepaid expenses and other current assets Property and Equipment Accumulated depreciation Long-term investments Goodwill Intangible assets Accumulated amortion of intangibles Other stets Short-term notes payable Account payable Credit $ 364 $ 155 $ 218 $ SOO $ 307 $ 3.363 $ 200 $ 63 $ 710 $ 99 5 20 $ 182 5 3 5 295 $ 216 $ 45 $ 473 $ 62 5 658 $ 2.904 $ 1152 5 1.521 45 $ 15,89 59.923 $4,400 $ $ 17 3 142 2020 Trial Balance Account Title Cash and cash equivalents Short-term investments Accounts receivable Merchandise inventories Prepaid expenses and other current assets Property and Equipment Accumulated depreciation Long-term investments Goodwill Intangible sets Accumulated amortization of intangible assets Other assets Short-term notes payable Accounts payable Accrued payroll, bonus and other benefits due team members Dividends payable Other current Babies Long term notes payable Other long term biles Common Stock Treasury Stock Related earnings Dividends Sales Cost of Goods Sold Seine end administrative expenses Interesten Investment and other income Income teense Debit Credit $ 713 $ 200 $ 363 5 792 $ 170 5 4,762 5 375 $ 143 5 710 5 99 5 30 5 182 $ 5 5 473 5 457 $ 45 5 5 65 $ 1,300 $ 3,194 5 1.214 $ 2,017 $ 45 516184 310415 4,632 5 GR 5 TS 401 51724319324012 Accrued payroll, bonus and other benefits due team members Dividends peable Other currenties Lone temnotes payable Other long term tatilities Common Stock Treaty Stock Retained earnings benning of year) Didonds Cost of Goods Sold Seine Beneral and administrative expenses Interest expert viwment and other income Income tax expense Additional Womation The company purchased new equipment for 51.4, but there were no dia of property The company purchased 12 in winstens including both short and long term and son investments during the year The company made aynants of all, and incurred a new payable of The correny de parents on its one bites Any change in this reflectinewone mobilities incuren The company in the year, and there were notional actions affecting the cock The company purchased tremur stock in the year, there were notional transactions were the treure court The contraddvidends of S457000 Assignment instructions are as follows: 1. Use the information in the provided trial balance to create the following financial statements: a. 2020 Income Statement b. 2020 Balance Sheet c. 2020 Cash Flow Statement 2. Create ONE Excel Workbook with the following tabs: a. Tab 1: Trial Balance for 2019 and 2020 provided b. Tab 2: Closing Entries for 2019 Income Statement C Tab 3: 2020 Income Statement d. Tab 4: Closing entries for 2020 e Tab 5: 2020 Balance Sheet post-closing entries (Use the 2019 Retained Earnings balance as your beginning 2019 balance) 1. Tab 6: 2020 Cash Flow Statement 1. Formulas a Vse Excel to setup the financial statements by linking the values from the trial balance b. Vse Excel formulas to calculate all totals and sub-totals. 4. Save your Excel Workbook as last name _Project 1 (For example: Koss Project) 5. Upload the completed assignment to Canvas using the link provided KELLEY ENTERPRISES Debit 2019 Trial Balance Account Title Cash and cash equivalents Short-term investments Accounts receivable Merchandise inventories Prepaid expenses and other current assets Property and Equipment Accumulated depreciation Long-term investments Goodwill Intangible assets Accumulated amortion of intangibles Other stets Short-term notes payable Account payable Credit $ 364 $ 155 $ 218 $ SOO $ 307 $ 3.363 $ 200 $ 63 $ 710 $ 99 5 20 $ 182 5 3 5 295 $ 216 $ 45 $ 473 $ 62 5 658 $ 2.904 $ 1152 5 1.521 45 $ 15,89 59.923 $4,400 $ $ 17 3 142 2020 Trial Balance Account Title Cash and cash equivalents Short-term investments Accounts receivable Merchandise inventories Prepaid expenses and other current assets Property and Equipment Accumulated depreciation Long-term investments Goodwill Intangible sets Accumulated amortization of intangible assets Other assets Short-term notes payable Accounts payable Accrued payroll, bonus and other benefits due team members Dividends payable Other current Babies Long term notes payable Other long term biles Common Stock Treasury Stock Related earnings Dividends Sales Cost of Goods Sold Seine end administrative expenses Interesten Investment and other income Income teense Debit Credit $ 713 $ 200 $ 363 5 792 $ 170 5 4,762 5 375 $ 143 5 710 5 99 5 30 5 182 $ 5 5 473 5 457 $ 45 5 5 65 $ 1,300 $ 3,194 5 1.214 $ 2,017 $ 45 516184 310415 4,632 5 GR 5 TS 401 51724319324012 Accrued payroll, bonus and other benefits due team members Dividends peable Other currenties Lone temnotes payable Other long term tatilities Common Stock Treaty Stock Retained earnings benning of year) Didonds Cost of Goods Sold Seine Beneral and administrative expenses Interest expert viwment and other income Income tax expense Additional Womation The company purchased new equipment for 51.4, but there were no dia of property The company purchased 12 in winstens including both short and long term and son investments during the year The company made aynants of all, and incurred a new payable of The correny de parents on its one bites Any change in this reflectinewone mobilities incuren The company in the year, and there were notional actions affecting the cock The company purchased tremur stock in the year, there were notional transactions were the treure court The contraddvidends of S457000 Assignment instructions are as follows: 1. Use the information in the provided trial balance to create the following financial statements: a. 2020 Income Statement b. 2020 Balance Sheet c. 2020 Cash Flow Statement 2. Create ONE Excel Workbook with the following tabs: a. Tab 1: Trial Balance for 2019 and 2020 provided b. Tab 2: Closing Entries for 2019 Income Statement C Tab 3: 2020 Income Statement d. Tab 4: Closing entries for 2020 e Tab 5: 2020 Balance Sheet post-closing entries (Use the 2019 Retained Earnings balance as your beginning 2019 balance) 1. Tab 6: 2020 Cash Flow Statement 1. Formulas a Vse Excel to setup the financial statements by linking the values from the trial balance b. Vse Excel formulas to calculate all totals and sub-totals. 4. Save your Excel Workbook as last name _Project 1 (For example: Koss Project) 5. Upload the completed assignment to Canvas using the link provided

Answer & Explanation Solved by verified expert

See Answer