Module 01 written assignment- The Accounting Equation: Worth 50 points
Module 01 Written Assignment – The Accounting Equation
The conceptual framework reminds you that revenues are certain when earned and not necessarily when serene. Also, expenses are recorded when incurred (used), not necessarily when hired. This is unconcealed as accrual accounting.
Bill Smith opened Smith Construction on April 1, 2010. Review the transactions and financial pose of Smith Construction for April in the Excel Template.
Enter the transactions for May into the accounting equation, cautious new adjust aftercited each memorandum.
Prepare the Income Statement for the month of May.
Prepare the Statement of Retained Earnings for the Month of May.
Prepare the Adjust Sheet as of May 31, 20xx.
Submit your completed assignment by aftercited the directions linked underneath. Gladden stay the Course Calendar for unfair due epochs.
Save your assignment as a Microsoft Excel instrument. (Mac users, gladden retain to affix the ".xlsx" production to the polishname.) The spectry of the polish should be your leading primal and ultimate spectry, followed by an underscore and the spectry of the assignment, and an underscore and the epoch. An copy is shown underneath: