For you second assignment, you will find an Excel Spreadsheet in Week 2. Please use the spreadsheet provided to you to complete the assignment. Detailed instructions are in the spreadsheet.
The instructions are as follows:
Using the transactions provided to you in the spreadsheet, complete the simplified balance sheet. Do not change any of the formulas; make sure your total assets equal your total liabilities. If it doesn’t add up, you entered the transactions incorrectly!!! Again, do not change the formulas provided to you!
You must use the spreadsheet provided to you – do not create your own spreadsheet; do not submit a PDF file!
Not following instructions will earn you an automatic zero on the assignment!
|Assignment 2: Using the transactions below, complete the simplified Balance Sheet for the month of April. Use the template provided here; do not change the formulas. Make sure your total assets equal your total liabilities. Save and submit this file in the designated area in week 2.|
|April 1, 2020:||You invested $10,000 to start your new business.|
|April 2, 2020:||You paid $900 in cash for supplies.|
|April 3, 2020:||You paid $800 rent for the month of April for your storefront.|
|April 4, 2020:||You bought $400 worth of office equipment (1 desk and 1 chair).|
|April 28, 2020:||You sold $2,200 worth of product.|
|April 29, 2020:||You bought material to produce your product worth $1,500 on credit payable in 90 days.|
|April 30, 2020:||You took inventory at the end of the month and you found that you had $1,800 worth of product material (supplies) remaining.|
|Student’s New Business – Month of April, 2020|
|Total Assets||0||Total Liabilities||0|