Record Journal Entries

Record Journal Entries
topic : Record Journal Entries
In this exercise, you will record four journal entries in Excel. The four transactions you will use, all of which took place during 2016, are as follows: • February 4: Purchased $1,100 of supplies on account • February 12: Received $2,600 of Service Revenue • February 17: Paid $3,100 for Rent Expense

• February 27: Recorded an adjusting journal entry for Supplies Expense after determining that the value of remaining supplies is $350 (the company had no supplies prior to February)

1. Create a Blank Workbook and save the file in your Chapter 01 folder as: EA1-A2-JournalEntries-[YourName]

2. In row 1, for the first transaction enter the date (including the year) in column A, the debited account in column B, and the debited amount in column D.

3. Ensure that the format for the date in cell A1 is Short Date.

4. In row 2, for the first transaction enter the credited account in column C and its amount in column E

5. Enter an explanation for the first transaction in cell B3. 6. Record the second journal entry on rows 4–6 and the third on rows 7–9. 7. Enter the fourth transaction as described:

In this cell: Cell A10 Cell B10 Cell D10 Cell C11 Cell E11 Cell B12

Enter the data for the: Date of the fourth transaction Debited account Debited amount Credited account Credited amount

Explanation for the fourth transaction

8. Highlight all amounts within the four journal entries and apply the accounting number format with zero decimal places.

9. Adjust the width of columns A–E by double-clicking the right border of column E. 10. Adjust the column width of column B to equal 5.

11. Use a keyboard shortcut to italicize the explanations for the first and second journal entries and use the Ribbon to italicize the explanation for the third journal entry.

12. Copy the formatting in cell B9 and paste it to cell B12. 13. Set the print area to encompass only the first two journal entries. 14. Save and close the file.

Write a 3000 words essay using APA/MLA/HAVARD/CHICAGO format and ensure strict adherence instructions

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A (4) B (3) C (2) D/F (1/0)
Focus: Purpose Purpose is clear Shows awareness of purpose Shows limited awareness of purpose No awareness
Main idea Clearly presents a There is a main idea Vague sense of a No main idea
main idea and supported throughout main idea, weakly
supports it most of the paper. supported
throughout the throughout the
paper. paper.
Organization: Well-planned and Good overall There is a sense of No sense of
Overall well-thought out. organization, includes organization, organization
Includes title, the main although some of the
introduction, organizational tools. organizational tools
statement of main are used weakly or
idea, transitions and missing
Organization: All paragraphs have Most paragraphs have Some paragraphs Para. lack clear ideas
Paragraphs clear ideas, are clear ideas, are have clear ideas,
supported with supported with some support from
examples and have examples and have examples may be
smooth transitions. transitions. missing and
transitions are weak.
Content Exceptionally well- Well-presented and Content is sound and Content is not sound
presented and argued; ideas are solid; ideas are
argued; ideas are detailed, developed present but not
detailed, well- and supported with particularly
developed, evidence and details, developed or
supported with mostly specific. supported; some
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facts, as well as usually of a
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specific details.
Research (if Sources are Sources are well Sources support The paper does not
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includes a integrated and they support the paper’s the paper, but might research or if it does,
research support claims claims. There may be not be integrated the sources are not
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very effectively. the sources and paper’s argument. They are not cited
Quotations and Works Cited conform There may be a few correctly according
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conform to MLA style.. listed correctly on
style sheet. the Works Cited
Style: Sentence Sentences are clear Sentences are clear Sentences are Sentences aren’t
structure and varied in but may lack generally clear but clear
pattern, from simple variation; a few may may have awkward
to complex, with be awkward and there structure or unclear
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