Project Problem
Instructions
Step I: Download the Guided Practice for Financial Statement template . Read the template carefully.
Step II: Using the data from the adjusted trial balance provided in the template workbook, populate the blue cells to create the following financial statements:
Income Statement:
a) Calculate the total expenses.
b) Compute net income.
Statement of Owner's Equity:
a) Key in the net income amount that goes into cell J17.
b) Calculate the J. Smith Capital balance as of June 30, 2017 in cell J9.
Balance Sheet:
a) Enter the equity balance from J9.
b) Calculate the balance for the total liabilities and equity.
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.