Your accounting analysis project contains 6 parts. The project must be completed in excel with separate excel sheets for each part.
1st – The first part is the most time consuming and includes journal entries and the general ledger. Please begin with the beginning trial balance (which will be provided to you in the email I will send) to make sure that the numbers are accurate. Don’t forget to add the beginning balance numbers to your general ledger accounts. Then, you should have an excel sheet for the General Journal and another excel sheet for the General Ledger (you can set this part up as T accounts) (this part of the project should include the adjusting entries and a separate excel sheet for the adjusted trial balance). All excel sheets should have formulas to populate the cells.
***Include all journal entries (general journal) for the month, the general ledger, a trial balance, adjusting entries and an adjusted trial balance. (Must be in excel, must have a separate sheet for each and have formulas to populate the sheets).***
2nd – The second part of the project will include the financial reports (populated from the adjusted trial balance).
***Financial reports should include Income Statement, Statement of Owner’s Equity (or Statement of Retained Earnings), and Balance Sheet.***
3rd – The third part of the project is the tax return. Please read the directions
***Find the forms for your company on the IRS website (either personal tax return for proprietorship/partnership or corporate tax return for a corporation) and use the information from the income statement to complete the tax return.***
4th – The fourth part of the project is the closing process. Be sure to include the post-closing trial balance.
***Closing Process should include journal entries, general ledger and a post-closing trial balance.***
5th – The fifth part of the project is the budget. Again, read the directions carefully.
**Use the General Ledger information to project a budget for the next year for your company. (Assume growth of revenue of 10% and growth of expenses of 13%) Be sure to cut any expense that will not be needed in the next budget year and include purchase of new equipment, if needed. (you should all need at least new computers or software for your company)**
6th – The last part of the project is the ratios for your particular company.
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