Accounting Project Assignment

Please assist with the below assignment. Ity is extensive. So please free to bid on higher price. I really need an A on this assignment. I have attached all the documents that are needed for you. 

Scenario

You area certified public accountant (CPA) who is working with a small bakery toprepare their financial statements for three months of the current fiscal year.Because the company is a startup and so small, the accounting is done manuallyin Microsoft Excel. You have been given the accounts and information you needto prepare their financial statements, but you will need to use the accountingcycle to report accurate information to the finance department. The businessowners have also asked you to summarize the companys performance based on thefinancial statements.

Directions

Company AccountingWorkbook

Useaccepted accounting principles to follow and record your business transactionsfor a three-month period from the first step of the accounting cycle throughthe reporting process. You will build on your work from Milestones One and Twoto complete your workbook using the Company Accounting WorkbookTemplate (linked in the What to Submit section).

Yourcompleted accounting workbook will consist of journal entries for eachtransaction and postings of transactions to account ledgers. You will develop atrial balance from ledger balances and adjust revenue and expense accounts, asnecessary, to ensure that revenues and expenses are reported in the appropriateperiod under the accrual accounting method. The adjusted trial balance will beused to prepare the income statement, the statement of owners equity, and thebalance sheet. After the preparation of the financial statements, closingentries will be entered to transfer earnings to equity and prepare temporaryaccounts for the new accounting period.

Use theinstructions below to complete your workbook.

1.    Record Financial Data: Useaccepted accounting principles to accurately capture business transactions forOctober, November, and December using the data provided in the accounting dataappendix (linked in the Supporting Materials section). You will need to addressthe following:

A.   Accuracy: Prepare entries thatare accurate in that they fully reflect the appropriate information.

B.   Completeness: Prepare entries thatare complete for each month, including transferring posted entries to Taccounts.

C.   Inventory Valuation:Prepare entries for the month of December to reflect the new line of productsoffered by the company, which includes using the data from the InventoryValuation tab of the company accounting workbook.

2.    Accrual Basis: Applythe accrual basis of accounting and prepare adjusting entries to ensureaccurate accounting for expenses that lack transactions in the current period.

A.   Unadjusted Trial Balance:Prepare the unadjusted trial balance portion of the Trial Balance tab of thecompany accounting workbook, ensuring that the total debits and credits match.

B.   Adjusting Entries:Prepare the Adjusting Entries tab of the company accounting workbook.

C.   Adjusted Trial Balance:Prepare the adjusted trial balance on the Trial Balance tab, ensuring thatthe debit and credit totals match.

3.    Financial Statements:Create financial statements using appropriate methods based on acceptedaccounting principles. Be sure to prepare these financial statements in theorder listed, as there are important interdependencies among them.

A.   Income Statement:Prepare the income statement using the adjusted trial balance.

B.   Statement of Owners Equity:Prepare the statement of owners equity using the adjusted trial balance.

C.   Balance Sheet:Prepare the balance sheet using the adjusted trial balance.

D.  Closing Entries:Complete the Closing Entries tab of the company accounting workbook byclosing all temporary income statement amounts to create closing entries.

E.    Post-Closing Trial Balance:Prepare the Post-Closing Trial Balance tab of the company accounting workbookin preparation for the next accounting period.

Summary Report

Afteryou have completed preparing all the financial statements, analyze thestatements and write a short report summarizing your findings. Use the templateprovided in the What to Submit section to complete your report.

4.    Summary: Write a summary of whatthe financial statements indicate about the companys financial health andperformance.

A.   Purpose: What kind ofinformation would these financial statements provide to various aspects of thebusiness?

B.   Analysis: What is the companyscash position, its net income as a percentage of sales, and its currentliabilities to current assets position?

What to Submit

Tocomplete this project, you must submit the following:

Your workbook should be completed and submitted as a Microsoft Excel file basedon the template provided.

Use this template to submit a 1- to 2-page Word document summarizing thefinancial statements you created.

Supporting Materials

Thefollowing resources support your work on the project:

Resource: 
This resource includes all of the existing financial information needed tocomplete your project.

Tutorial: 
This tutorial from Infobase provides helpful information on how to use thebasic features of Microsoft Excel. Use the table of contents to select thetutorials that best suit your needs.

 

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